Document:

PROMISSORY NOTE

 

	$100,000.00	As of May 20, 2013

 

Andina Acquisition
Corporation (“Maker”) promises to pay to the order of The A. Lorne Weil 2006 Irrevocable Trust – Family Investment
Trust or its successors or assigns (“Payee”) the principal sum of One Hundred Thousand Dollars and No Cents ($100,000.00)
in lawful money of the United States of America, on the terms and conditions described below.

 

1.          Principal.
The principal balance of this Note shall be repayable on the consummation of the Maker’s initial share exchange, asset acquisition,
share purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities
(a “Business Combination”).

 

2.          Interest.
No interest shall accrue on the unpaid principal balance of this Note.

 

3.          Application
of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due
under this Note, including (without limitation) reasonable attorneys’ fees, then to the payment in full of any late charges
and finally to the reduction of the unpaid principal balance of this Note.

 

4.          Events
of Default. The following shall constitute Events of Default:

 

(a)          Failure
to Make Required Payments. Failure by Maker to pay the principal of this Note within five (5) business days following the date
when due.

 

(b)          Voluntary
Bankruptcy, Etc. The commencement by Maker of a voluntary case under the Federal Bankruptcy Code, as now constituted or hereafter
amended, or any other applicable federal, state or foreign bankruptcy, insolvency, reorganization, rehabilitation or other similar
law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator
(or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment for the
benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action
by Maker in furtherance of any of the foregoing.

 

(c)          Involuntary
Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of maker
in an involuntary case under the Federal Bankruptcy Code, as now or hereafter constituted, or any other applicable federal, state
or foreign bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator
(or similar official) of Maker or for 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 unstayed and in effect for a period of 60 consecutive days.

 

    	 

    	 

    

 

5.          Remedies.

 

(a)          Upon
the occurrence of an Event of Default specified in Section 4(a), Payee may, by written notice to Maker, declare this Note to be
due and payable, whereupon the principal amount of this Note, and all other amounts payable thereunder, shall become immediately
due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything
contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b)          Upon
the occurrence of an Event of Default specified in Sections 4(b) or 4(c), the unpaid principal balance of, and all other sums payable
with regard to, this Note shall automatically and immediately become due and payable, in all cases without any action on the part
of Payee.

 

6.          Conversion.
Upon consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert the principal
balance of this Note, in whole or in part at the option of the Payee, into warrants (“Warrants”) of the Maker at a
price of $0.50 per Warrant; provided, however, that the Payee shall be permitted to convert this Note only if the stockholders
of the Company have approved the issuance of the Warrants to the Payee if such approval is necessary under applicable rules. The
Warrants will be identical to the “insider warrants” (as such term is defined in the Maker’s final prospectus
for its initial public offering (“IPO”), dated March 16, 2012). As promptly after notice by Payee to Maker to convert
the principal balance of this Note, which must be made at least 24 hours prior to the consummation of the Business Combination,
as reasonably practicable and after Payee’s surrender of this Note, Maker shall have issued and delivered to Payee, without
any charge to Payee, a certificate or certificates (issued in the name(s) requested by Payee) for the number of Warrants of Maker
issuable upon the conversion of this Note.

 

7.          Trust
Fund Waiver. Payee understands that if a Business Combination is not consummated, this Note will not be repaid and all amounts
owed hereunder will be forgiven. The Payee hereby waives any and all right, title, interest or claim of any kind in or to any distribution
of the trust account (“Trust Account”) established by Maker in connection with the IPO (“Claim”) except
in the event Maker consummates a Business Combination.

 

8.          Waivers.
Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor,
protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by
Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting
any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or
sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and
Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution
issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

    	 

    	 

    

 

9.          Unconditional
Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other
party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted
by Payee with respect to the payment or other provisions of this Note, and agree that additional makers, endorsers, guarantors,
or sureties may become parties hereto without notice to them or affecting their liability hereunder.

 

10.         Notices.
Any notice called for hereunder shall be deemed properly given if (i) sent by certified mail, return receipt requested, (ii) personally
delivered or (iii) dispatched by any form of private or governmental express mail or delivery service providing receipted delivery,
to the following addresses or to such other address as either party may designate by notice in accordance with this Section:

 

If to Maker:

 

Andina Acquisition Corporation

Carrera 10 No. 28-49

Torre A. Oficina 20-05

Bogota, Colombia

 

If to Payee:

 

The A. Lorne Weil 2006 Irrevocable
Trust – Family Investment Trust

c/o Neuberger Berman Trust Company
of Delaware N.A.

919 Market Street, Suite 506

Wilmington, Delaware 19800

Attn: David Herrman

 

Notice shall be deemed
given on the earlier of (i) actual receipt by the receiving party, (ii) the date reflected on a signed delivery receipt, or (iii)
two (2) Business Days following tender of delivery or dispatch by express mail or delivery service as provided above.

 

11.         Construction.
This Note shall be construed and enforced in accordance with the domestic, internal law, but not the law of conflict of laws, of
the State of New York.

 

12.         Severability.
Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
Maker, intending to be legally bound hereby, has caused this Note to be duly executed by its Chief Executive Officer the day and
year first above written.

 

	 	ANDINA ACQUISITION CORPORATION
	 	 	 
	 	By:	/s/ B. Luke Weil
	 	 	Name:  B. Luke Weil
	 	 	Title: Chief Executive OfficerExhibit 4.1

EXECUTION VERSION

 

LEXINGTON REALTY TRUST,

as Issuer,

 

CERTAIN SUBSIDIARIES OF LEXINGTON REALTY
TRUST,

 

as Guarantors,

 

and

 

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 

INDENTURE

Dated as of June 10, 2013

 

4.25%
Senior Notes due 2023

 

    	 

    	 

    

 

Table
of Contents

 

	 	 	 	 	Page
	 	 	 	 	 
	ARTICLE 1
	 
	DEFINITIONS
	 	 	 	 	 
	Section 1.01.	 	Definitions	 	1
	 	 	 	 	 
	ARTICLE 2
	 
	ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES
	 	 	 	 	 
	Section 2.01.	 	Designation Amount and Issue of Notes	 	10
	 	 	 	 	 
	Section 2.02.	 	Form of Notes	 	10
	 	 	 	 	 
	Section 2.03.	 	Date and Denomination of Notes; Payments of Interest	 	11
	 	 	 	 	 
	Section 2.04.	 	Execution of Notes	 	12
	 	 	 	 	 
	Section 2.05.	 	Note Registrar and Paying Agent	 	12
	 	 	 	 	 
	Section 2.06.	 	Exchange and Registration of Transfer of Notes; Restrictions on Transfer	 	13
	 	 	 	 	 
	Section 2.07.	 	Mutilated, Destroyed, Lost or Stolen Notes	 	25
	 	 	 	 	 
	Section 2.08.	 	Temporary Notes	 	25
	 	 	 	 	 
	Section 2.09.	 	Cancellation of Notes	 	26
	 	 	 	 	 
	Section 2.10.	 	CUSIP Numbers	 	26
	 	 	 	 	 
	Section 2.11.	 	Issuance of Additional Notes	 	26
	 	 	 	 	 
	ARTICLE 3
	 
	REDEMPTION OF NOTES
	 	 	 	 	 
	Section 3.01.	 	Optional Redemption of Notes	 	27
	 	 	 	 	 
	Section 3.02.	 	Notice of Optional Redemption; Selection of Notes	 	27
	 	 	 	 	 
	Section 3.03.	 	Payment of Notes Called for Redemption by the Issuer	 	28
	 	 	 	 	 
	Section 3.04.	 	Sinking Fund	 	28
	 	 	 	 	 
	ARTICLE 4
	 
	CERTAIN COVENANTS OF THE ISSUER
	 	 	 	 	 
	Section 4.01.	 	Payment of Principal, Premium and Interest	 	29
	 	 	 	 	 
	Section 4.02.	 	Maintenance of Office or Agency	 	29
	 	 	 	 	 
	Section 4.03.	 	Appointments to Fill Vacancies in Trustee's Office	 	29
	 	 	 	 	 
	Section 4.04.	 	Provisions as to Paying Agent	 	29
	 	 	 	 	 
	Section 4.05.	 	Existence	 	30

 

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Table
of Contents

(continued)

 

	 	 	 	 	Page
	 	 	 	 	 
	Section 4.06.	 	Provision of Financial Information	 	30
	 	 	 	 	 
	Section 4.07.	 	Stay, Extension and Usury Laws	 	31
	 	 	 	 	 
	Section 4.08.	 	Compliance Certificate	 	31
	 	 	 	 	 
	Section 4.09.	 	Limitations on Incurrence of Debt	 	32
	 	 	 	 	 
	Section 4.10.	 	Insurance	 	33
	 	 	 	 	 
	Section 4.11.	 	Maintenance of Properties	 	33
	 	 	 	 	 
	Section 4.12.	 	Payment of Taxes and Other Claims	 	34
	 	 	 	 	 
	Section 4.13.	 	Additional Interest Notice	 	34
	 	 	 	 	 
	ARTICLE 5
	 
	NOTEHOLDERS' LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE
	 	 	 	 	 
	Section 5.01.	 	Noteholders' Lists	 	34
	 	 	 	 	 
	Section 5.02.	 	Preservation and Disclosure of Lists	 	34
	 	 	 	 	 
	Section 5.03.	 	Reports by Trustee	 	34
	 	 	 	 	 
	ARTICLE 6
	 
	REMEDIES OF THE TRUSTEE AND NOTEHOLDERS ON AN EVENT OF DEFAULT
	 	 	 	 	 
	Section 6.01.	 	Events of Default	 	35
	 	 	 	 	 
	Section 6.02.	 	Payments of Notes on Default; Suit Therefor	 	37
	 	 	 	 	 
	Section 6.03.	 	Application of Monies Collected by Trustee	 	38
	 	 	 	 	 
	Section 6.04.	 	Proceedings by Noteholders	 	39
	 	 	 	 	 
	Section 6.05.	 	Proceedings by Trustee	 	39
	 	 	 	 	 
	Section 6.06.	 	Remedies Cumulative and Continuing	 	39
	 	 	 	 	 
	Section 6.07.	 	Direction of Proceedings and Waiver of Defaults by Majority of Noteholders	 	40
	 	 	 	 	 
	Section 6.08.	 	Notice of Defaults	 	40
	 	 	 	 	 
	Section 6.09.	 	Undertaking to Pay Costs	 	40
	 	 	 	 	 
	ARTICLE 7
	 
	THE TRUSTEE
	 	 	 	 	 
	Section 7.01.	 	Duties and Responsibilities of Trustee	 	41
	 	 	 	 	 
	Section 7.02.	 	Reliance on Documents, Opinions, etc	 	42
	 	 	 	 	 
	Section 7.03.	 	No Responsibility for Recitals, etc	 	43

 

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Table
of Contents

(continued)

 

	 	 	 	 	Page
	 	 	 	 	 
	Section 7.04.	 	Trustee, Paying Agents or Registrar May Own Notes	 	43
	 	 	 	 	 
	Section 7.05.	 	Monies to Be Held in Trust	 	44
	 	 	 	 	 
	Section 7.06.	 	Compensation and Expenses of Trustee	 	44
	 	 	 	 	 
	Section 7.07.	 	Officers' Certificate as Evidence	 	44
	 	 	 	 	 
	Section 7.08.	 	Conflicting Interests of Trustee	 	44
	 	 	 	 	 
	Section 7.09.	 	Eligibility of Trustee	 	45
	 	 	 	 	 
	Section 7.10.	 	Resignation or Removal of Trustee	 	45
	 	 	 	 	 
	Section 7.11.	 	Acceptance by Successor Trustee	 	46
	 	 	 	 	 
	Section 7.12.	 	Succession by Merger	 	46
	 	 	 	 	 
	Section 7.13.	 	Preferential Collection of Claims	 	47
	 	 	 	 	 
	Section 7.14.	 	United States Patriot Act	 	47
	 	 	 	 	 
	ARTICLE 8
	 
	THE NOTEHOLDERS
	 	 	 	 	 
	Section 8.01.	 	Action by Noteholders	 	47
	 	 	 	 	 
	Section 8.02.	 	Proof of Execution by Noteholders	 	47
	 	 	 	 	 
	Section 8.03.	 	Absolute Owners	 	47
	 	 	 	 	 
	Section 8.04.	 	the Issuer-owned Notes Disregarded	 	48
	 	 	 	 	 
	Section 8.05.	 	Revocation of Consents; Future Holders Bound	 	48
	 	 	 	 	 
	ARTICLE 9
	 
	SUPPLEMENTAL INDENTURES
	 	 	 	 	 
	Section 9.01.	 	Supplemental Indentures Without Consent of Noteholders	 	48
	 	 	 	 	 
	Section 9.02.	 	Supplemental Indenture With Consent of Noteholders	 	49
	 	 	 	 	 
	Section 9.03.	 	Effect of Supplemental Indenture	 	50
	 	 	 	 	 
	Section 9.04.	 	Notation on Notes	 	51
	 	 	 	 	 
	Section 9.05.	 	Evidence of Compliance of Supplemental Indenture to Be Furnished to Trustee	 	51
	 	 	 	 	 
	ARTICLE 10
	 
	CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE
	 	 	 	 	 
	Section 10.01.	 	The Issuer May Consolidate on Certain Terms	 	51
	 	 	 	 	 
	Section 10.02.	 	The Issuer Successor to Be Substituted	 	51

 

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Table
of Contents

(continued)

 

	 	 	 	 	Page
	 	 	 	 	 
	Section 10.03.	 	Guarantor May Consolidate on Certain Terms	 	52
	 	 	 	 	 
	ARTICLE 11
	 
	SATISFACTION AND DISCHARGE OF INDENTURE
	 	 	 	 	 
	Section 11.01.	 	Discharge of Indenture	 	53
	 	 	 	 	 
	Section 11.02.	 	Deposited Monies to Be Held in Trust by Trustee	 	53
	 	 	 	 	 
	Section 11.03.	 	Paying Agent to Repay Monies Held	 	53
	 	 	 	 	 
	Section 11.04.	 	Return of Unclaimed Monies	 	54
	 	 	 	 	 
	Section 11.05.	 	Reinstatement	 	54
	 	 	 	 	 
	ARTICLE 12
	 
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	 	 	 	 	 
	Section 12.01.	 	Option to Effect Legal Defeasance or Covenant Defeasance	 	54
	 	 	 	 	 
	Section 12.02.	 	Legal Defeasance and Discharge	 	54
	 	 	 	 	 
	Section 12.03.	 	Covenant Defeasance	 	55
	 	 	 	 	 
	Section 12.04.	 	Conditions to Legal or Covenant Defeasance	 	55
	 	 	 	 	 
	Section 12.05.	 	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	 	56
	 	 	 	 	 
	Section 12.06.	 	Repayment to the Issuer	 	57
	 	 	 	 	 
	Section 12.07.	 	Reinstatement	 	57
	 	 	 	 	 
	ARTICLE 13
	 
	IMMUNITY OF ORGANIZERS, SHAREHOLDERS, OFFICERS, TRUSTEES, DIRECTORS AND PARTNERS
	 	 	 	 	 
	Section 13.01.	 	Indenture and Notes Solely Trust Obligations	 	57
	 	 	 	 	 
	ARTICLE 14
	 
	MEETINGS OF HOLDERS OF NOTES
	 	 	 	 	 
	Section 14.01.	 	Purposes for Which Meetings May Be Called	 	57
	 	 	 	 	 
	Section 14.02.	 	Call, Notice and Place of Meetings	 	58
	 	 	 	 	 
	Section 14.03.	 	Persons Entitled to Vote at Meetings	 	58
	 	 	 	 	 
	Section 14.04.	 	Quorum; Action	 	58

 

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Table
of Contents

(continued)

  

	 	 	 	 	Page
	 	 	 	 	 
	Section 14.05.	 	Determination of Voting Rights; Conduct and Adjournment of Meetings	 	59
	 	 	 	 	 
	Section 14.06.	 	Counting Votes and Recording Action of Meetings	 	59
	 	 	 	 	 
	ARTICLE 15
	 
	GUARANTEE
	 	 	 	 	 
	Section 15.01.	 	Guarantee	 	60
	 	 	 	 	 
	Section 15.02.	 	Execution and Delivery of Guarantee	 	61
	 	 	 	 	 
	Section 15.03.	 	Release of a Guarantor	 	61
	 	 	 	 	 
	Section 15.04.	 	Future Guarantors	 	62
	 	 	 	 	 
	Section 15.05.	 	Limitation of Guarantor’s Liability; Certain Bankruptcy Events	 	62
	 	 	 	 	 
	ARTICLE 16
	 
	MISCELLANEOUS PROVISIONS
	 	 	 	 	 
	Section 16.01.	 	Provisions Binding on the Issuer's and Guarantors's Successors	 	62
	 	 	 	 	 
	Section 16.02.	 	Official Acts by Successor Entity	 	62
	 	 	 	 	 
	Section 16.03.	 	Addresses for Notices, etc	 	62
	 	 	 	 	 
	Section 16.04.	 	Governing Law	 	64
	 	 	 	 	 
	Section 16.05.	 	Evidence of Compliance with Conditions Precedent, Certificates to Trustee	 	64
	 	 	 	 	 
	Section 16.06.	 	Legal Holidays	 	64
	 	 	 	 	 
	Section 16.07.	 	Trust Indenture Act	 	64
	 	 	 	 	 
	Section 16.08.	 	No Security Interest Created	 	65
	 	 	 	 	 
	Section 16.09.	 	Benefits of Indenture	 	65
	 	 	 	 	 
	Section 16.10.	 	Table of Contents, Headings, etc	 	65
	 	 	 	 	 
	Section 16.11.	 	Authenticating Agent	 	65
	 	 	 	 	 
	Section 16.12.	 	Execution in Counterparts	 	66
	 	 	 	 	 
	Section 16.13.	 	Severability	 	66
	 	 	 	 	 
	Section 16.14.	 	Force Majeure	 	66

 

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Table
of Contents

(continued)

 

	 	 	Page
	EXHIBITS:	 	 
	Exhibit A — Form of Note	 	A-1
	 	 	 
	Exhibit B — Form of Certificate of Transfer	 	B-1
	 	 	 
	Exhibit C — Form of Certificate of Exchange	 	C-1
	 	 	 
	Exhibit D — Form of Guarantee   	 	D-1

 

    	-vi-

    	 

    

 

CROSS REFERENCE TABLE*

 

	Trust Indenture Act Section	 	Indenture Section
	310(a)(1)	 	7.09
	(a)(2)	 	7.09
	(a)(3)	 	N.A.
	(a)(4)	 	N.A.
	(a)(5)	 	N.A.
	(b)	 	7.08,  7.10
	(c)	 	N.A.
	311(a)	 	7.13
	(b)	 	7.13
	(c)	 	N.A.
	312(a)	 	5.01
	(b)	 	5.02
	(c)	 	5.02
	313(a)	 	5.03
	(b)	 	5.03
	(c)	 	5.03
	(d)	 	5.03
	314(a)	 	4.06,  4.08
	(b)	 	N.A.
	(c)(1)	 	16.05
	(c)(2)	 	16.05
	(c)(3)	 	N.A.
	(d)	 	N.A.
	(e)	 	16.05
	(f)	 	N.A.
	315(a)	 	7.01
	(b)	 	6.08
	(c)	 	7.01
	(d)	 	7.01
	(e)	 	6.09
	316(a)(1)(A)	 	6.07
	(a)(1)(B)	 	6.07
	(a)(2)	 	N.A.
	(b)	 	N.A.
	(c)	 	N.A.
	317(a)(1)	 	6.02
	(a)(2)	 	6.02
	(b)	 	11.03
	318(a)	 	N.A.

 

 

N.A. means not applicable.

 

* This Cross-Reference Table
is not part of the Indenture.

 

    	-vii-

    	 

    

 

INDENTURE

 

INDENTURE, dated as
of June 10, 2013, among LEXINGTON REALTY TRUST, a Maryland real estate investment trust (the "Issuer"), CERTAIN
SUBSIDIARIES OF THE ISSUER SIGNATORIES HERETO (including subsidiaries of the Issuer subsequently becoming guarantors, and excluding
subsidiaries that are released from their Guarantee (as defined herein) pursuant to the terms hereof, the "Guarantors")
and U.S. BANK NATIONAL ASSOCIATION, a national banking association duly organized and existing under the laws of the United States,
as trustee hereunder (the "Trustee"), having its Corporate Trust Office as of the date hereof at 100 Wall Street,
Suite 1600, New York, New York 10005.

 

Each party agrees as
follows for the benefit of the other parties and for the equal and ratable benefit of the holders of the Issuer's 4.25% Senior
Notes due 2023 (hereinafter called the "Notes") guaranteed by the Guarantors.

 

Article
1

DEFINITIONS

 

Section
1.01.         Definitions. The terms defined in this Section 1.01 (except
as herein otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any
indenture supplemental hereto shall have the respective meanings specified in this Section 1.01. All other terms used in this Indenture
that are defined in the Trust Indenture Act (as defined below) or which are by reference therein defined in the Securities Act
(as defined below) (except as herein otherwise expressly provided or unless the context otherwise requires) shall have the respective
meanings assigned to such terms in the Trust Indenture Act and in the Securities Act as in force at the date of the execution of
this Indenture. The words "herein," "hereof," "hereunder" and words of similar
import refer to this Indenture as a whole and not to any particular Article, Section or other Subdivision. The terms defined in
this Article include the plural as well as the singular.

 

"144A Global
Note" means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the Private
Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be
issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A.

 

"Acquired Debt"
means Debt of a Person (1) existing at the time such Person is merged or consolidated with or into the Issuer or any of its
Subsidiaries or becomes a Subsidiary of the Issuer; or (2) assumed by the Issuer or any of its Subsidiaries in connection
with the acquisition of assets from such Person. Acquired Debt shall be deemed to be incurred on the date the acquired Person is
merged or consolidated with or into the Issuer or any of its Subsidiaries or becomes a Subsidiary of the Issuer or the date of
the related acquisition, as the case may be.

 

"Additional
Interest" has the meaning specified for Registration Default Damages in Section 2(d) of the Registration Rights Agreement.

 

"Additional
Interest Notice" has the meaning specified in Section 4.13 hereof.

 

"Additional
Notes" means additional Notes (other than the Initial Notes) issued under this Indenture in accordance with Sections 2.04,
2.11 and 4.09 hereof, as part of the same series as the Initial Notes.

 

    	-1-

    	 

    

 

"Adjusted Treasury
Rate" means, with respect to any Redemption Date, the rate per year equal to the semi-annual equivalent yield to maturity
(computed on the third Business Day immediately preceding the Redemption Date) of the Comparable Treasury Issue, assuming a price
for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such Redemption Date.

 

"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 or cause the direction of 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.

 

"Agent"
means any Note Registrar, co-registrar, Paying Agent or additional paying agent.

 

"Annual Debt
Service Charge" means, for any period, the interest expense of the Issuer and its Subsidiaries for such period, determined
on a consolidated basis in accordance with United States generally accepted accounting principles.

 

"Applicable
Procedures" means, with respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules
and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange.

 

"Authentication
Order" has the meaning specified in Section 2.01 hereof.

 

"Bankruptcy
Law" means Title 11, U.S. Code or any similar federal, state, or foreign law for the relief of debtors.

 

"Benefited
Party" has the meaning specified in Section 15.01 hereof.

 

"Board of Trustees"
means the board of trustees of the Issuer or a committee of such board duly authorized to act for it hereunder.

 

"Broker-Dealer"
means any broker or dealer registered as such under the Exchange Act.

 

"Business Day"
means, with respect to any Note, any day, other than a Saturday, Sunday or any other day on which banking institutions in New York,
New York are authorized or obligated by law or executive order to close.

 

"Clearstream"
means Clearstream Banking, S.A.

 

"Commission"
means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time
after the execution of this Indenture 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.

 

"Comparable
Treasury Issue" means the United States Treasury security selected by the Quotation Agent as having an actual or interpolated
maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance
with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term
of such Notes.

 

    	-2-

    	 

    

 

"Comparable
Treasury Price" means, with respect to any Redemption Date, (1) the average of the Reference Treasury Dealer Quotations
for such Redemption Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, (2) if the
Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such Quotations or (3) if only one
Reference Treasury Dealer Quotation is received, such quotation.

 

"Consolidated
Income Available for Debt Service" means, for any period, Consolidated Net Income of the Issuer and its Subsidiaries for
such period, plus amounts which have been deducted and minus amounts which have been added for, without duplication: (1) interest
expense on Debt, (2) provision for taxes based on income, (3) amortization of debt discount, premium and deferred financing
costs, (4) impairment losses and gains on sales or other dispositions of properties and other investments, (5) real estate
related depreciation and amortization, (6) the effect of any non-recurring non-cash items, and (7) amortization of deferred
charges, (8) gains or losses on early extinguishment of debt, and (9) acquisition expenses, all determined on a consolidated
basis in accordance with United States generally accepted accounting principles.

 

"Consolidated
Net Income" means, for any period, the amount of net income (or loss) of the Issuer and its Subsidiaries for such period,
excluding, without duplication: (1) extraordinary items, and (2) the portion of net income (but not losses) of the Issuer
and its Subsidiaries allocable to minority interests in unconsolidated persons to the extent that cash dividends or distributions
have not actually been received by the Issuer or one of its Subsidiaries, all determined on a consolidated basis in accordance
with United States generally accepted accounting principles.

 

"Corporate
Trust Office" or other similar term, means the designated office of the Trustee at which, at any particular time, its
corporate trust business as it relates to this Indenture shall be administered, which office is, at the date as of which this Indenture
is dated, located at the address set forth in Section 16.03 hereof.

 

"Covenant Defeasance"
has the meaning specified in Section 12.03 hereof.

 

"CUSIP"
means the Committee on Uniform Securities Identification Procedures.

 

"Custodian"
means U.S. Bank National Association, as custodian for the Depositary with respect to the Notes in global form, or any successor
entity thereto.

 

"Debt"
means, with respect to any Person, any indebtedness of such Person in respect of, without duplication, (1) such Person’s
borrowed money or such Person’s indebtedness evidenced by bonds, notes, debentures or similar instruments, in each case,
whether or not such Debt is secured by any Lien existing on any property or assets owned by such Person; (2) any other indebtedness
secured by any Lien on any property or asset owned by such Person, but only to the extent of the lesser of (a) the amount of indebtedness
so secured and (b) the fair market value (determined in good faith by the board of trustees of such Person or, in the case of a
Guarantor, by the Issuer’s Board of Trustees) of the property subject to such Lien; (3) reimbursement obligations, contingent
or otherwise, in connection with any letters of credit actually issued or amounts 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 (4) any
lease of property by such Person as lessee which is required to be reflected on such Person’s balance sheet as a capitalized
lease in accordance with United States generally accepted accounting principles, other than any operating lease that is re-characterized
as an indebtedness or a liability due to a change in accounting treatment pursuant to United States generally accepted accounting
principles. The term "Debt" also includes, to the extent not otherwise included, any non-contingent obligation of such
Person to be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes of collection in the ordinary course
of business), Debt of the types referred to above of another Person (it being understood that Debt shall be deemed to be incurred
by such Person whenever such Person shall create, assume, guarantee (on a non-contingent basis) or otherwise become liable in respect
thereof).

 

    	-3-

    	 

    

 

"Default"
means any event which, after notice or the lapse of time, or both, would become, an Event of Default.

 

"Defaulted
Interest" has the meaning specified in Section 2.03 hereof.

 

"Definitive
Note" means a certificated Note registered in the name of the Holder thereof and issued in accordance with Section 2.06
hereof, substantially in the form of Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not
have the "Schedule of Exchanges of Interests in the Global Note" attached thereto.

 

"Depositary"
means the clearing agency registered under the Exchange Act that is designated to act as the Depositary for the Global Notes. DTC
shall be the initial Depositary, until a successor shall have been appointed and become such pursuant to the applicable provisions
of this Indenture, and thereafter, "Depositary" shall mean or include such successor.

 

"DTC"
means The Depository Trust Company.

 

"EDGAR"
has the meaning specified in Section 4.06(a) hereof.

 

"Euroclear"
means Euroclear Bank, S.A./N.V., as operator of the Euroclear system.

 

"Event of Default"
means any event specified in Section 6.01 hereof as an Event of Default.

 

"Exchange Act"
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, as in effect from
time to time.

 

"Exchange Notes"
means the Notes issued in the Exchange Offer pursuant to Section 2.06(f) hereof.

 

"Exchange Offer"
has the meaning set forth in the Registration Rights Agreement.

 

"Exchange Offer
Registration Statement" has the meaning set forth in the Registration Rights Agreement.

 

"Global Note
Legend" means the legend set forth in Section 2.06(g)(2) hereof, which is required to be placed on all Global Notes
issued under this Indenture.

 

"Global Notes"
means, individually and collectively, each of the Restricted Global Notes and the Unrestricted Global Notes deposited with or on
behalf of and registered in the name of the Depositary or its nominee, substantially in the form of Exhibit A hereto and that bears
the Global Note Legend and that has the "Schedule of Exchanges of Interests in the Global Note" attached thereto, issued
in accordance with this Indenture.

 

"Government
Securities" means direct obligations of, or obligations guaranteed by, the United States of America, and the payment for
which the United States pledges its full faith and credit.

 

"Guarantee"
means the full and unconditional guarantee provided by the Guarantors in respect of the Notes as made applicable to the Notes in
accordance with the provisions of Section 15.01 hereof.

 

    	-4-

    	 

    

 

"Guarantee
Obligations" has the meaning specified in Section 15.01 hereof.

 

“Guarantor”
means (i) each Subsidiary of the Issuer on the date hereof that is a Principal Credit Agreement Obligor and (ii) each other Subsidiary
that becomes a Principal Credit Agreement Obligor by the terms of this Indenture after the date hereof, in each case, until such
Person is no longer a Principal Credit Agreement Obligor and is released from its Guarantee of the Notes in accordance with the
terms hereof.

 

"Indenture"
means this instrument as originally executed or, if amended or supplemented as herein provided, as so amended or supplemented.

 

"Indirect Participant"
means a Person who holds a beneficial interest in a Global Note through a Participant.

 

"Initial Notes"
means the first $250,000,000 aggregate principal amount of Notes issued under this Indenture on the date hereof.

 

"Initial Purchasers"
means each of Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., Merrill Lynch, Pierce, Fenner &
Smith Incorporated, KeyBanc Capital Markets Inc., Capital One Southcoast, Inc., PNC Capital Markets LLC, Regions Securities LLC,
TD Securities (USA) LLC, Fifth Third Securities, Inc., RBS Securities Inc., U.S. Bancorp Investments, Inc. and BB&T Capital
Markets, a division of BB&T Securities, LLC.

 

"interest"
means, when used with reference to the Notes, any interest payable under the terms of the Notes, including Additional Interest,
if any, payable under the terms of the Registration Rights Agreement.

 

"Issuer"
means the real estate investment trust named as the "Issuer" in the first paragraph of this Indenture, and, subject
to the provisions of Article 10 hereof, shall include its successors and assigns.

 

"Legal Defeasance"
has the meaning specified in Section 12.02 hereof.

 

"Letter of
Transmittal" means the letter of transmittal to be prepared by the Issuer and sent to all Holders of the Notes for use
by such Holders in connection with the Exchange Offer.

 

"Lien"
means any mortgage, deed of trust, lien, charge, pledge, security interest, security agreement, or other encumbrance of any kind.

 

"Material Subsidiary"
means any Subsidiary that meets either of the following conditions: (1) the Issuer’s and its Subsidiaries’ investments
in and advances to such Subsidiary exceed 10% of the Issuer’s and its Subsidiaries’ total assets consolidated (determined
in accordance with United States generally accepted accounting principles) as of the end of the most recent fiscal quarter for
which a periodic report has been filed under the Exchange Act; or (2) the Issuer’s and its Subsidiaries’ proportionate
share of the total assets (after intercompany eliminations) of such Subsidiary exceeds 10% of the Issuer’s and its Subsidiaries’
total assets consolidated (determined in accordance with United States generally accepted accounting principles) as of the end
of the most recent fiscal quarter for which a periodic report has been filed under the Exchange Act.

 

"Maturity Date"
means June 15, 2023.

 

"Non-U.S. Person"
means a Person who is not a U.S. Person.

 

    	-5-

    	 

    

 

"Note"
or "Notes" means any Note or Notes, as the case may be, authenticated and delivered under this Indenture, including
the Initial Notes, any Additional Notes and any Global Note.

 

"Note Register"
has the meaning specified in Section 2.05 hereof.

 

"Note Registrar"
has the meaning specified in Section 2.05 hereof.

 

"Noteholder"
or "Holder" as applied to any Note, or other similar terms (but excluding the term "beneficial holder"),
means any Person in whose name at the time a particular Note is registered on the Note Registrar's books.

 

"Offering Memorandum"
means the Issuer's offering memorandum, dated June 3, 2013, relating to the Initial Notes unconditionally guaranteed by the Guarantors.

 

"Officer"
means, with respect to any Person, any person holding any of the following positions with such Person, in the case of a Person
that is a partnership, the general partner of such Person, or, in the case of a Person that is a limited liability company, the
manager of such Person: the Chairman of the Board, the Chief Executive Officer, the President, any Vice President (whether or not
designated by a number or numbers or word or words added before or after the title "Vice President"), the Chief
Financial Officer, the Treasurer and the Secretary.

 

"Officers'
Certificate" means, with respect to any Person, a certificate signed by any two Officers or by one such Officer and any
Assistant Treasurer or Assistant Secretary of such Person, in the case of a Person that is a partnership, the general partner of
such Person, or, in the case of a Person that is a limited liability company, the manager of such Person.

 

"Opinion of
Counsel" means, with respect to any Person, an opinion in writing signed by legal counsel, who may be an employee of or
counsel to such Person, or other counsel reasonably acceptable to the Trustee.

 

"outstanding"
when used with reference to Notes and subject to the provisions of Section 8.04 hereof, means, as of any particular time, all Notes
authenticated and delivered by the Trustee under this Indenture, except:

 

(1)
         Notes theretofore cancelled by the Trustee or delivered to the Trustee
for cancellation;

 

(2)
         Notes, or portions thereof, (i) for the redemption of which monies
in the necessary amount shall have been deposited in trust with the Trustee or with any Paying Agent (other than the Issuer or
a Guarantor) or (ii) which shall have been otherwise discharged in accordance with Article 11 hereof;

 

(3)
         Notes in lieu of which, or in substitution for which, other Notes
shall have been authenticated and delivered pursuant to the terms of Section 2.07 hereof; and

 

(4)
         Notes paid or redeemed pursuant to Article 3 hereof.

 

"Participant"
means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or
Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream).

 

    	-6-

    	 

    

 

"Paying Agent"
has the meaning specified in Section 2.05 hereof.

 

"Person"
means a corporation, an association, a partnership, a limited liability company, an individual, a joint venture, a joint stock
company, a trust, an unincorporated organization or a government or an agency or a political subdivision thereof.

 

"Predecessor
Note" of any particular Note means every previous Note evidencing all or a portion of the same debt as that evidenced
by such particular Note, and, for the purposes of this definition, any Note authenticated and delivered under Section 2.07 hereof
in lieu of a lost, destroyed or stolen Note shall be deemed to evidence the same debt as the lost, destroyed or stolen Note that
it replaces.

 

"premium"
means any premium payable under the terms of the Notes.

 

"Primary Treasury
Dealer" means a primary U.S. Government securities dealer.

 

"Principal
Credit Agreement" means the Second Amended and Restated Credit Agreement, dated as of February 12, 2013, among the Issuer,
Lepercq Corporate Income Fund L.P. and Lepercq Corporate Income Fund II L.P., collectively as borrowers, each of the lenders party
thereto, and KeyBank National Association, as agent, as the same may be amended, supplemented or otherwise modified from time to
time, and any successor credit agreement thereto (whether by renewal, replacement, refinancing or otherwise) that the Issuer in
good faith designates to be the Issuer’s principal credit agreement (taking into account the maximum principal amount of
the credit facility provided thereunder, the recourse nature of the agreement and such other factors as the Issuer deems reasonable
in light of the circumstances), such designation (or the designation that at a given time there is no principal credit agreement)
to be made by an Officers’ Certificate delivered to the Trustee.

 

"Principal
Credit Agreement Obligor" means every Subsidiary of the Issuer that is a borrower or guarantor under the Principal Credit
Agreement from time to time; provided that, to the extent that any or all of such Subsidiaries cease to be borrowers or guarantors
under the Principal Credit Agreement, such Subsidiaries shall cease to be Principal Credit Agreement Obligors.

 

"Private Placement
Legend" means the legend set forth in Section 2.06(g)(1) hereof to be placed on all Notes issued under this Indenture
except where otherwise permitted by the provisions of this Indenture.

 

"QIB"
means a "qualified institutional buyer" as defined in Rule 144A.

 

"Quotation
Agent" means the Reference Treasury Dealer appointed by the Issuer.

 

"Record Date"
has the meaning specified in Section 2.03 hereof.

 

"Redemption
Date" means, with respect to any Note or portion thereof to be redeemed in accordance with the provisions of Section 3.01
hereof, the date fixed for such redemption in accordance with the provisions of Section 3.01 hereof.

 

"Redemption
Price" has the meaning provided in Section 3.01 hereof.

 

"Reference
Treasury Dealer" means (1) a Primary Treasury Dealer selected by Wells Fargo Securities LLC or its successor, (2) J.P.
Morgan Securities LLC or its successor and (3) any one other Primary Treasury Dealer selected by the Issuer; provided, however,
that if any of the Reference Treasury Dealers referred to in clause (1), (2) or (3) above ceases to be a Primary Treasury Dealer,
the Issuer will substitute therefor another Primary Treasury Dealer.

 

    	-7-

    	 

    

 

"Reference
Treasury Dealer Quotations" means, with respect to each Reference Treasury Dealer and any Redemption Date, the average,
as determined by the Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on
the third Business Day preceding such Redemption Date.

 

"Registration
Rights Agreement" means the Registration Rights Agreement, dated as of June 10, 2013, among the Issuer, the Guarantors
and the Initial Purchasers, as amended from time to time in accordance with its terms.

 

"Regulation
S" means Regulation S promulgated under the Securities Act, as it may be amended from time to time hereafter.

 

"Regulation
S Global Note" means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the
Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued
in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 903 of Regulation S.

 

"Responsible
Officer" shall mean, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee
with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust
matter, any other officer to whom such matter is referred because of such person's knowledge of or familiarity with the particular
subject.

 

"Restricted
Definitive Note" means a Definitive Note bearing the Private Placement Legend.

 

"Restricted
Global Note" means a Global Note bearing the Private Placement Legend.

 

"Restricted
Period" means the 40-day distribution compliance period as defined in Regulation S.

 

"Rule 144"
means Rule 144 promulgated under the Securities Act as it may be amended from time to time hereafter.

 

"Rule 144A"
means Rule 144A promulgated under the Securities Act as it may be amended from time to time hereafter.

 

"Rule 903"
means Rule 903 promulgated under the Securities Act as it may be amended from time to time hereafter.

 

"Rule 904"
means Rule 904 promulgated under the Securities Act as it may be amended from time to time hereafter.

 

"Securities
Act" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, as in effect
from time to time.

 

"Shelf Registration
Statement" has the meaning set forth in the Registration Rights Agreement.

 

"Stated Maturity,"
with respect to any Note or any installment of principal thereof or interest thereon, means the date established by or pursuant
to this Indenture or such Note as the fixed date on which the principal of such Note or such installment of principal or interest
is due and payable, whether at maturity or pursuant to redemption or otherwise.

 

    	-8-

    	 

    

 

"Subsidiary"
means, with respect to the Issuer, any Person (as defined herein but excluding an individual) a majority of the outstanding voting
stock, partnership interests, membership interests or other equity interest, as the case may be, of which is owned or controlled,
directly or indirectly, by the Issuer or by one or more other Subsidiaries of the Issuer. For the purposes of this definition,
"voting stock" means stock having voting power for the election of directors, trustees or managers, as the case may be,
whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency.

 

"Total Assets"
means the sum of, without duplication (1) Undepreciated Real Estate Assets and (2) all other assets (excluding accounts
receivable and non-real estate intangibles) of the Issuer and its Subsidiaries, all determined on a consolidated basis in accordance
with United States generally accepted accounting principles.

 

"Total Unencumbered
Assets" means, as of any date, the Total Assets of the Issuer and its Subsidiaries, which are not subject to a Lien securing
Debt, all determined on a consolidated basis in accordance with United States generally accepted accounting principles; provided,
however, that, in determining Total Unencumbered Assets as a percentage of outstanding Unsecured Debt for purposes of the covenant
set forth in Section 4.09(d) hereof entitled "Maintenance of Total Unencumbered Assets," all investments in unconsolidated
limited partnerships, unconsolidated limited liability companies and other unconsolidated entities shall be excluded from Total
Unencumbered Assets.

 

"Trust Indenture
Act" means the Trust Indenture Act of 1939, as amended, as it was in force at the date of this Indenture; provided,
that if the Trust Indenture Act of 1939 is amended after the date hereof, the term "Trust Indenture Act"
shall mean, to the extent required by such amendment, the Trust Indenture Act of 1939 as so amended.

 

"Trustee"
means U.S. Bank National Association, and its successors and any corporation or association resulting from or surviving any consolidation
or merger to which it or its successors may be a party and any successor trustee at the time serving as successor trustee hereunder.

 

"Undepreciated
Real Estate Assets" means, as of any date, the cost (original cost plus capital improvements) of real estate assets and
related intangibles of the Issuer and its Subsidiaries on such date, before depreciation and amortization, all determined on a
consolidated basis in accordance with United States generally accepted accounting principles.

 

"Unrestricted
Definitive Note" means a Definitive Note that does not bear and is not required to bear the Private Placement Legend.

 

"Unrestricted
Global Note" means a Global Note that does not bear and is not required to bear the Private Placement Legend.

 

"Unsecured
Debt" means Debt of the Issuer or any of its Subsidiaries which is not secured by a Lien on any property or assets of
the Issuer or any of its Subsidiaries.

 

"U.S. Person"
means a U.S. Person as defined in Rule 902(k) promulgated under the Securities Act.

 

    	-9-

    	 

    

 

Article
2

ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES

 

Section
2.01.         Designation Amount and Issue of Notes. The Notes shall
be designated as "4.25% Senior Notes due 2023." Upon the execution of this Indenture, and from time to time thereafter,
Notes may be executed by the Issuer and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate
and deliver Notes upon a written order of the Issuer (an "Authentication Order"), such order signed on behalf
of the Issuer by two Officers of the Issuer or by an Officer of the Issuer and either an Assistant Treasurer or any Assistant Secretary
of the Issuer, without any further action by the Issuer hereunder.

 

The aggregate principal
amount of Notes which may be authenticated and delivered under this Indenture is unlimited. The Issuer may, without the consent
of the Holders of Notes, issue Additional Notes from time to time in the future in an unlimited principal amount, subject to compliance
with the terms of this Indenture, including Section 2.11 hereof.

 

Section
2.02.         Form of Notes. Notes issued in global form will be substantially
in the form of Exhibit A hereto (including the Global Note Legend thereon and the "Schedule of Exchanges of Interests in the
Global Note" attached thereto). Notes issued in definitive form will be substantially in the form of Exhibit A hereto (but
without the Global Note Legend thereon and without the "Schedule of Exchanges of Interests in the Global Note" attached
thereto). Each Global Note will represent such of the outstanding Notes as will be specified therein and each shall provide that
it represents the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal
amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges
and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal
amount of outstanding Notes represented thereby will be made by the Trustee or the Custodian, at the direction of the Trustee.
The terms and provisions contained in the form of Note attached as Exhibit A hereto shall constitute, and are hereby expressly
made, a part of this Indenture and, to the extent applicable, the Issuer and the Trustee, by their execution and delivery of this
Indenture, expressly agree to such terms and provisions and to be bound thereby.

 

Any of the Notes may
have such letters, numbers or other marks of identification and such notations, legends, endorsements or changes as the officers
executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with
the provisions of this Indenture, or as may be required by the Custodian, the Depositary or as may be required for the Notes to
be tradable on any market existing or developed for trading of securities pursuant to Rule 144A or as may be required to comply
with any applicable law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange
or automated quotation system on which the Notes may be listed, or to conform to usage, or to indicate any special limitations
or restrictions to which any particular Notes are subject.

 

So long as the Notes
are eligible for book-entry settlement with the Depositary, or unless otherwise required by law, or otherwise contemplated by Section
2.06(b) hereof, all of the Notes will be represented by one or more Global Notes. The transfer and exchange of beneficial
interests in any such Global Note shall be effected through the Depositary in accordance with this Indenture and the applicable
procedures of the Depositary. Except as provided in Section 2.06(b) hereof, beneficial owners of a Global Note shall not be
entitled to have certificates registered in their names, will not receive or be entitled to receive physical delivery of certificates
in definitive form and will not be considered Holders of such Global Note.

 

    	-10-

    	 

    

 

Section
2.03.         Date and Denomination of Notes; Payments of Interest.
The Notes shall be issuable in registered form without coupons in denominations of $2,000 principal amount and integral multiples
of $1,000 in excess thereof. Each Note shall be dated the date of its authentication and shall bear interest from the date specified
on the face of the form of Note attached as Exhibit A hereto. Interest on the Notes shall be computed on the basis of a 360-day
year consisting of twelve 30-day months.

 

The Person in whose
name any Note (or its Predecessor Note) is registered on the Note Register at 5:00 p.m., New York City time, on any Record Date
with respect to any interest payment date shall be entitled to receive the interest payable on such interest payment date. Interest
shall be payable at the office of the Issuer maintained by the Issuer for such purposes in New York, New York, which shall initially
be an office or agency of the Trustee. The Issuer shall pay interest (i) on any Notes in certificated form by wire transfer
of immediately available funds to the account specified by the Noteholder or if no such account is specified, by check mailed to
the registered address of the Person entitled thereto as it appears in the Note Register on the Record Date (whether or not a Business
Day), or (ii) on any Global Note by wire transfer of immediately available funds to the account of the Depositary or its nominee.
If a payment date is not a Business Day, payment shall be made on the next succeeding Business Day, and no additional interest
shall accrue thereon. The term "Record Date" with respect to any interest payment date shall mean the June 1 or
December 1 preceding the applicable June 15 or December 15 interest payment date, respectively, beginning with December 15, 2013.

 

No other payment or
adjustment will be made for accrued interest on an exchanged Note.

 

Any interest on any
Note which is payable, but is not punctually paid or duly provided for, on any June 15 or December 15, beginning with December
15, 2013 (herein called "Defaulted Interest"), shall forthwith cease to be payable to the Noteholder registered
as such on the relevant Record Date, and such Defaulted Interest shall be paid by the Issuer, at its election in each case, as
provided in clause (1) or (2) below:

 

(1)         The
Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Notes (or their respective Predecessor
Notes) are registered at 5:00 p.m., New York City time, on a special record date for the payment of such Defaulted Interest, which
shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed
to be paid on each Note and the date of the proposed payment (which shall be not less than ten (10) calendar days after the receipt
by the Trustee of such notice, unless the Trustee shall consent to an earlier date), and at the same time the Issuer shall deposit
with the Trustee an amount of monies equal to the aggregate amount to be paid in respect of such Defaulted Interest or shall make
arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such monies 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 ten (10) calendar
days and not less than five (5) calendar days prior to the date of the proposed payment, and not less than five (5) calendar
days after the receipt by the Trustee of the notice of the proposed payment (unless, the Trustee shall consent to an earlier date).
The Trustee shall promptly notify the Issuer of such special record date and, in the name and at the expense of the Issuer, shall
cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed (or sent by electronic
transmission), first-class postage prepaid, to each Holder at its address as it appears in the Note Register, not less than ten (10) calendar
days prior to such special record date (unless, the Trustee shall consent to an earlier 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 the Notes (or their respective Predecessor Notes) are registered at 5:00 p.m., New York City time, on such
special record date and shall no longer be payable pursuant to the following clause (2) of this Section 2.03.

 

    	-11-

    	 

    

 

(2)         The
Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities
exchange or automated quotation system on which the Notes may be listed or designated for issuance, and upon such notice as may
be required by such exchange or automated quotation system, if, after notice given by the Issuer to the Trustee of the proposed
payment pursuant to this clause, such manner of payment shall be deemed reasonably practicable by the Trustee.

 

Section
2.04.         Execution of Notes. The Notes shall be signed, in the
name and on behalf of the Issuer, manually or by facsimile or other electronic imaging means by an Officer of the Issuer. The Trustee
will, upon receipt of an Authentication Order, authenticate Notes for issue under this Indenture, including any Additional Notes.
The aggregate principal amount of Notes outstanding at any time may not exceed the aggregate principal amount of Notes authorized
for issuance by the Issuer pursuant to one or more Authentication Orders, except as provided in Sections 2.07 and 2.08 hereof.

 

Only such Notes as
shall bear thereon a certificate of authentication substantially in the form set forth on the form of Note attached as Exhibit
A hereto, executed manually by the Trustee (or an authenticating agent appointed by the Trustee as provided by Section 16.11 hereof),
shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee
(or such an authenticating agent) upon any Note executed by the Issuer shall be conclusive evidence that the Note so authenticated
has been duly authenticated and delivered hereunder and that the Holder is entitled to the benefits of this Indenture.

 

In case any Officer
of the Issuer who shall have signed any of the Notes shall cease to be such Officer of the Issuer before the Notes so signed shall
have been authenticated and delivered by the Trustee, or disposed of by the Issuer, such Notes nevertheless may be authenticated
and delivered or disposed of as though the person who signed such Notes had not ceased to be such Officer of the Issuer, and any
Note may be signed on behalf of the Issuer by such persons as, at the actual date of the execution of such Note, shall be the proper
Officers of the Issuer, although at the date of the execution of this Indenture any such person was not such an Officer of the
Issuer.

 

Section
2.05.         Note Registrar and Paying Agent. The Issuer will maintain
an office or agency where Notes may be presented for registration of transfer or for exchange ("Note Registrar")
and an office or agency where Notes may be presented for payment ("Paying Agent"). The Note Registrar will keep
a register of the Notes and of their transfer and exchange (the "Note Register"). The Issuer may appoint one or
more co-registrars and one or more additional paying agents. The term "Note Registrar" includes any co-registrar
and the term "Paying Agent" includes any additional paying agent. The Issuer may change any Paying Agent or Note
Registrar without notice to any Holder. The Issuer will notify the Trustee in writing of the name and address of any Paying Agent
not a party to this Indenture. If the Issuer fails to appoint or maintain another entity as Note Registrar or Paying Agent, the
Trustee shall act as such. The Issuer or any of its Subsidiaries may act as Paying Agent or Note Registrar.

 

The Issuer initially
appoints the DTC to act as Depositary with respect to the Global Notes.

 

The Issuer initially
appoints the Trustee to act as the Note Registrar and Paying Agent and to act as Custodian with respect to the Global Notes.

 

    	-12-

    	 

    

 

The Issuer will require
each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the benefit of Holders
or the Trustee all money held by the Paying Agent for the payment of principal, premium or Additional Interest, if any, or interest
on the Notes, and will notify the Trustee of any default by the Issuer in making any such payment. While any such default continues,
the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying
Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer
or its Subsidiary) will have no further liability for the money. If the Issuer or a Subsidiary of the Issuer acts as Paying Agent,
it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any
bankruptcy or reorganization proceedings relating to the Issuer, the Trustee will serve as Paying Agent for the Notes.

 

Section
2.06.         Exchange and Registration of Transfer of Notes; Restrictions
on Transfer.

 

(a)          Transfer
and Exchange of Global Notes. A Global Note may not be transferred except as a whole by the Depositary to a nominee of the
Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any
such nominee to a successor Depositary or a nominee of such successor Depositary. All Global Notes will be exchanged by the Issuer
for Definitive Notes if:

 

(1)         the
Depositary (a) notifies the Issuer that it is unwilling or unable to continue as Depositary for the Global Notes or (b) has ceased
to be a clearing agency registered under the Exchange Act and, in either case, the Issuer fails to appoint a successor Depositary;

 

(2)         the
Issuer, at its option, notifies the Trustee in writing that the Issuer elects to cause the issuance of the Definitive Notes; or

 

(3)         upon
request from the Depositary if there has occurred and is continuing a Default or Event of Default with respect to the Notes.

 

Upon the occurrence of either of the preceding
events in (1) or (2) above, Definitive Notes shall be issued in such names as the Depositary shall instruct the Trustee.
Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.08 hereof. Every Note authenticated
and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 or Section 2.07
or 2.08 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged
for another Note other than as provided in this Section 2.06(a), however, beneficial interests in a Global Note may be transferred
and exchanged as provided in Section 2.06(b), (c) or (f) hereof.

 

(b)          Transfer
and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global Notes
will be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial
interests in the Restricted Global Notes will be subject to restrictions on transfer comparable to those set forth herein to the
extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also will require compliance with
either subparagraph (1) or (2) below, as applicable, as well as one or more of the other following subparagraphs, as
applicable:

 

(1)         Transfer
of Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons
who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer
restrictions set forth in the Private Placement Legend; provided, however, that prior to the expiration of the Restricted Period,
transfers of beneficial interests in the Regulation S Global Note may not be made to a U.S. Person or for the account or benefit
of a U.S. Person (other than an Initial Purchaser). Beneficial interests in any Unrestricted Global Note may be transferred to
Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions
shall be required to be delivered to the Note Registrar to effect the transfers described in this Section 2.06(b)(1).

 

    	-13-

    	 

    

 

(2)         All
Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges of beneficial
interests that are not subject to Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver to the
Note Registrar either:

 

(A)         both:

 

(i)          a
written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures
directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the
beneficial interest to be transferred or exchanged; and

 

(ii)         instructions
given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with
such increase; or

 

(B)         both:

 

(i)          a
written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures
directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred
or exchanged; and

 

(ii)         instructions
given by the Depositary to the Note Registrar containing information regarding the Person in whose name such Definitive Note shall
be registered to effect the transfer or exchange referred to in (1) above.

 

Upon consummation of
an Exchange Offer by the Issuer in accordance with Section 2.06(f) hereof, the requirements of this Section 2.06(b)(2) shall
be deemed to have been satisfied upon receipt by the Note Registrar of the instructions contained in the Letter of Transmittal
delivered by the Holder of such beneficial interests in the Restricted Global Notes. Upon satisfaction of all of the requirements
for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable
under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 2.06(h)
hereof.

 

(3)         Transfer
of Beneficial Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global Note may be
transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the
transfer complies with the requirements of Section 2.06(b)(2) above and the Note Registrar receives the following:

 

(A)         if
the transferee will take delivery in the form of a beneficial interest in the 144A Global Note, then the transferor must deliver
a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; and

 

    	-14-

    	 

    

 

(B)         if
the transferee will take delivery in the form of a beneficial interest in the Regulation S Global Note, then the transferor must
deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof.

 

(4)         Transfer
and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted Global Note. A
beneficial interest in any Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted
Global Note or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global
Note if the exchange or transfer complies with the requirements of Section 2.06(b)(2) above and:

 

(A)         such
exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the holder
of the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a transfer, certifies
in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution
of the Exchange Notes or (iii) a Person who is an affiliate (as Definitive in Rule 144) of the Issuer;

 

(B)         such
transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement;

 

(C)         such
transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration
Rights Agreement; or

 

(D)         the
Note Registrar receives the following:

 

(i)          if
the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a beneficial
interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications
in item (1)(a) thereof; or

 

(ii)         if
the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a Person who
shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder
in the form of Exhibit B hereto, including the certifications in item (4) thereof;

 

and, in each
such case set forth in this subparagraph (D), if the Note Registrar so requests or if the Applicable Procedures so require, an
Opinion of Counsel in form reasonably acceptable to the Note Registrar to the effect that such exchange or transfer is in compliance
with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act.

 

If any such transfer
is effected at a time when an Unrestricted Global Note has not yet been issued, the Issuer shall issue and, upon receipt of an
Authentication Order in accordance with Section 2.04 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes
in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred.

 

    	-15-

    	 

    

 

Beneficial interests
in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial
interest in a Restricted Global Note.

 

(c)          Transfer
or Exchange of Beneficial Interests for Definitive Notes.

 

(1)         Beneficial
Interests in Restricted Global Notes to Restricted Definitive Notes. If any holder of a beneficial interest in a Restricted
Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest
to a Person who takes delivery thereof in the form of a Restricted Definitive Note, then, upon receipt by the Note Registrar of
the following documentation:

 

(A)         if
the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted
Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (2)(a) thereof;

 

(B)         if
such beneficial interest is being transferred to a QIB in accordance with Rule 144A, a certificate to the effect set forth in Exhibit
B hereto, including the certifications in item (1) thereof;

 

(C)         if
such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule
904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof;

 

(D)         if
such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the Securities Act
in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof;

 

(E)         if
such beneficial interest is being transferred to the Issuer or any of its Subsidiaries, a certificate to the effect set forth in
Exhibit B hereto, including the certifications in item (3)(b) thereof; or

 

(F)         if
such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a certificate
to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof,

 

the Trustee shall
cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(h) hereof,
and the Issuer shall execute and the Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive
Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global
Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations
as the holder of such beneficial interest shall instruct the Note Registrar through instructions from the Depositary and the Participant
or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such Notes are so registered.
Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c)(1) shall
bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein.

 

    	-16-

    	 

    

 

(2)         Beneficial
Interests in Restricted Global Notes to Unrestricted Definitive Notes. A holder of a beneficial interest in a Restricted Global
Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person
who takes delivery thereof in the form of an Unrestricted Definitive Note only if:

 

(A)         such
exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the holder
of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable
Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange
Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Issuer;

 

(B)         such
transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement;

 

(C)         such
transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration
Rights Agreement; or

 

(D)         the
Note Registrar receives the following:

 

(i)          if
the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for an Unrestricted
Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof;
or

 

(ii)         if
the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a Person who
shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit
B hereto, including the certifications in item (4) thereof;

 

and, in each
such case set forth in this subparagraph (D), if the Note Registrar so requests or if the Applicable Procedures so require, an
Opinion of Counsel in form reasonably acceptable to the Note Registrar to the effect that such exchange or transfer is in compliance
with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act.

 

(3)         Beneficial
Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. If any holder of a beneficial interest in an Unrestricted
Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person
who takes delivery thereof in the form of a Definitive Note, then, the Trustee will cause the aggregate principal amount of the
applicable Global Note to be reduced accordingly pursuant to Section 2.06(h) hereof, and the Issuer will execute and the Trustee
will authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount.
Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(3) will be registered in
such name or names and in such authorized denomination or denominations as the holder of such beneficial interest requests through
instructions to the Note Registrar from or through the Depositary and the Participant or Indirect Participant. The Trustee will
deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange
for a beneficial interest pursuant to this Section 2.06(c)(3) will not bear the Private Placement Legend.

 

    	-17-

    	 

    

 

(d)          Transfer
and Exchange of Definitive Notes for Beneficial Interests.

 

(1)         Restricted
Definitive Notes to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted Definitive Note proposes
to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to
a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon receipt by the
Note Registrar of the following documentation:

 

(A)         if
the Holder of such Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note,
a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof;

 

(B)         if
such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A, a certificate to the effect set forth
in Exhibit B hereto, including the certifications in item (1) thereof;

 

(C)         if
such Restricted Definitive Note is being transferred to a Non- U.S. Person in an offshore transaction in accordance with Rule 903
or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof;

 

(D)         if
such Restricted Definitive Note is being transferred pursuant to an exemption from the registration requirements of the Securities
Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item
(3)(a) thereof;

 

(E)         if
such Restricted Definitive Note is being transferred to the Issuer or any of its Subsidiaries, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or

 

(F)         if
such Restricted Definitive Note is being transferred pursuant to an effective registration statement under the Securities Act,
a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof,

 

the Trustee will
cancel the Restricted Definitive Note, increase or cause to be increased the aggregate principal amount of, in the case of clause
(A) above, the appropriate Restricted Global Note, in the case of clause (B) above, the 144A Global Note and, in the case of clause
(C) above, the Regulation S Global Note.

 

(2)         Restricted
Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of a Restricted Definitive Note may exchange
such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who
takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note only if:

 

    	-18-

    	 

    

 

(A)         such
exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the Holder,
in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that
it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a
Person who is an affiliate (as defined in Rule 144) of the Issuer;

 

(B)         such
transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement;

 

(C)         such
transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration
Rights Agreement; or

 

(D)         the
Note Registrar receives the following:

 

(i)          if
the Holder of such Definitive Notes proposes to exchange such Notes for a beneficial interest in the Unrestricted Global Note,
a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or

 

(ii)         if
the Holder of such Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the form of
a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including
the certifications in item (4) thereof;

 

and, in each
such case set forth in this subparagraph (D), if the Note Registrar so requests or if the Applicable Procedures so require, an
Opinion of Counsel in form reasonably acceptable to the Note Registrar to the effect that such exchange or transfer is in compliance
with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act.

 

Upon satisfaction of
the conditions of any of the subparagraphs in this Section 2.06(d)(2), the Trustee will cancel the Definitive Notes and increase
or cause to be increased the aggregate principal amount of the Unrestricted Global Note.

 

(3)         Unrestricted
Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted Definitive Note may exchange
such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery
thereof in the form of a beneficial interest in an Unrestricted Global Note at any time. Upon receipt of a request for such an
exchange or transfer, the Trustee will cancel the applicable Unrestricted Definitive Note and increase or cause to be increased
the aggregate principal amount of one of the Unrestricted Global Notes.

 

If any such
exchange or transfer from a Definitive Note to a beneficial interest is effected at a time when an Unrestricted Global Note has
not yet been issued, the Issuer will issue and, upon receipt of an Authentication Order in accordance with Section 2.04 hereof,
the Trustee will authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount
of Definitive Notes so transferred.

 

    	-19-

    	 

    

 

(e)          Transfer
and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder's compliance
with the provisions of this Section 2.06(e), the Note Registrar will register the transfer or exchange of Definitive Notes. Prior
to such registration of transfer or exchange, the requesting Holder must present or surrender to the Note Registrar the Definitive
Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Note Registrar duly executed
by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder must provide any additional certifications,
documents and information, as applicable, required pursuant to the following provisions of this Section 2.06(e).

 

(1)         Restricted
Definitive Notes to Restricted Definitive Notes. Any Restricted Definitive Note may be transferred to and registered in the
name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Note Registrar receives the following:

 

(A)         if
the transfer will be made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of Exhibit B hereto,
including the certifications in item (1) thereof;

 

(B)         if
the transfer will be made pursuant to Rule 903 or Rule 904, then the transferor must deliver a certificate in the form of Exhibit
B hereto, including the certifications in item (2) thereof; and

 

(C)         if
the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required
by item (3) thereof, if applicable.

 

(2)         Restricted
Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the Holder thereof for
an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted
Definitive Note if:

 

(A)         such
exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the Holder,
in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that
it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a
Person who is an affiliate (as defined in Rule 144) of the Issuer;

 

(B)         any
such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement;

 

(C)         any
such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration
Rights Agreement; or

 

(D)         the
Note Registrar receives the following:

 

(i)          if
the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted Definitive Note, a certificate
from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or

 

    	-20-

    	 

    

 

(ii)         if
the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the
form of an Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications
in item (4) thereof;

 

and, in each such case
set forth in this subparagraph (D), if the Note Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the
Note Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions
on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the
Securities Act.

 

(3)         Unrestricted
Definitive Notes to Unrestricted Definitive Notes. A Holder of Unrestricted Definitive Notes may transfer such Notes to a Person
who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer,
the Note Registrar shall register the Unrestricted Definitive Notes pursuant to the instructions from the Holder thereof.

 

(f)          Exchange
Offer. Upon the occurrence of the Exchange Offer in accordance with the Registration Rights Agreement, the Issuer will issue
and, upon receipt of an Authentication Order in accordance with Section 2.04 hereof, the Trustee will authenticate:

 

(1)         one
or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of the beneficial interests in
the Restricted Global Notes accepted for exchange in the Exchange Offer by Persons that certify in the applicable Letters of Transmittal
that (A) they are not Broker-Dealers, (B) they are not participating in a distribution of the Exchange Notes and (C) they are not
affiliates (as defined in Rule 144) of the Issuer; and

 

(2)         Unrestricted
Definitive Notes in an aggregate principal amount equal to the principal amount of the Restricted Definitive Notes accepted for
exchange in the Exchange Offer by Persons that certify in the applicable Letters of Transmittal that (A) they are not Broker- Dealers,
(B) they are not participating in a distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144)
of the Issuer.

 

Concurrently with the
issuance of such Notes, the Trustee will cause the aggregate principal amount of the applicable Restricted Global Notes to be reduced
accordingly, and the Issuer will execute and the Trustee will authenticate and deliver to the Persons designated by the Holders
of Definitive Notes so accepted Unrestricted Definitive Notes in the appropriate principal amount.

 

(g)          Legends.
The following legends will appear on the face of all Global Notes and Definitive Notes issued under this Indenture unless specifically
stated otherwise in the applicable provisions of this Indenture.

 

(1)         Private
Placement Legend.

 

(A)         Except
as permitted by subparagraph (B) below, each Global Note and each Definitive Note (and all Notes issued in exchange therefor or
substitution thereof) shall bear the legend in substantially the following form:

 

    	-21-

    	 

    

 

"THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES
LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD,
ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION
IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN
BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY,
PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR IN THE CASE OF RULE 144A NOTES, AND
40 DAYS IN THE CASE OF REGULATION S NOTES AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER
OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE ISSUER OR
ANY OF ITS SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C)
FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS
OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE
ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE
SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT
TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND
WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE"

 

(B)         Notwithstanding
the foregoing, any Global Note or Definitive Note issued pursuant to subparagraphs (b)(4), (c)(2), (c)(3), (d)(2), (d)(3), (e)(2),
(e)(3) or (f) of this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof) will not bear
the Private Placement Legend.

 

(2)         Global
Note Legend. Each Global Note will bear a legend in substantially the following form:

 

"THIS
GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT
OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE
MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.02 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED
IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE
FOR CANCELLATION PURSUANT TO SECTION 2.09 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY
WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER.

 

    	-22-

    	 

    

 

UNLESS AND
UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY
OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) ("DTC"),
TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
HAS AN INTEREST HEREIN."

 

(h)          Cancellation
and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged
for Definitive Notes or a particular Global Note has been redeemed or canceled in whole and not in part, each such Global Note
will be returned to or retained and canceled by the Trustee in accordance with Section 2.09 hereof. At any time prior to such cancellation,
if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form
of a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global
Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the
direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person
who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note will be increased
accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee
to reflect such increase.

 

(i)          General
Provisions Relating to Transfers and Exchanges.

 

(1)         To
permit registrations of transfers and exchanges, the Issuer will execute and the Trustee will authenticate Global Notes and Definitive
Notes upon receipt of an Authentication Order in accordance with Section 2.04 hereof or at the Note Registrar's request.

 

(2)         No
service charge will be made to a Holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration
of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax or similar governmental
charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange
or transfer pursuant to Sections 2.08, 3.03 and 9.04 hereof).

 

(3)         The
Note Registrar will not be required to register the transfer of or exchange of any Note selected for redemption in whole or in
part, except the unredeemed portion of any Note being redeemed in part.

 

    	-23-

    	 

    

 

(4)         All
Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes will
be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the
Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

 

(5)         Neither
the Note Registrar nor the Issuer will be required:

 

(A)         to
issue, register the transfer of or to exchange any Note during a period beginning at the opening of business fifteen (15)
days before the mailing of a notice of redemption of the Notes selected for redemption and ending at the close of business on the
day of such mailing; or

 

(B)         to
register the transfer or exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any
Note being redeemed in part.

 

(6)         Prior
to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Issuer may deem and treat the
Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal
of and interest on such Notes and for all other purposes, and none of the Trustee, any Agent or the Issuer shall be affected by
notice to the contrary.

 

(7)         The
Trustee will authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.04 hereof.

 

(8)         All
certifications, certificates and Opinions of Counsel required to be submitted to the Note Registrar pursuant to this Section 2.06
to effect a registration of transfer or exchange may be submitted by facsimile or other electronic imaging means.

 

(9)         The
Trustee shall have no responsibility or obligation to any Participants, Indirect Participants or any other Person with respect
to the accuracy of the books or records, or the acts or omissions, of the Depositary or its nominee or of any participant or member
thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any Participants, Indirect Participants
or other Person (other than the Depositary) of any notice (including any notice of redemption) or the payment of any amount, under
or with respect to such Notes. All notices and communications to be given to the Noteholders and all payments to be made to Noteholders
under the Notes shall be given or made only to or upon the order of the registered Noteholders (which shall be the Depositary or
its nominee in the case of a Global Note). The rights of beneficial owners in any Global Note shall be exercised only through the
Depositary subject to the customary procedures of the Depositary. The Trustee may rely and shall be fully protected in relying
upon information furnished by the Depositary with respect to its Participants.

 

The Trustee
shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under
this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between
or among Participants in any Global Note) other than to require delivery of such certificates and other documentation or evidence
as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same
to determine substantial compliance as to form with the express requirements hereof.

 

    	-24-

    	 

    

 

Section
2.07.         Mutilated, Destroyed, Lost or Stolen Notes. In case any
Note shall become mutilated or be destroyed, lost or stolen, the Issuer in its discretion may execute, and upon its written request
the Trustee or an authenticating agent appointed by the Trustee shall authenticate and make available for delivery, a new Note,
bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Note, or in lieu of and in substitution
for the Note so destroyed, lost or stolen. In every case, the applicant for a substituted Note shall furnish to the Issuer on behalf
of the Issuer and the Guarantors and to the Trustee and, if applicable, to such authenticating agent such security or indemnity
as may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or connected with such
substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Issuer on behalf of the
Issuer and the Guarantors, and to the Trustee and, if applicable, to such authenticating agent evidence to their satisfaction of
the destruction, loss or theft of such Note and of the ownership thereof.

 

Following receipt by
the Trustee or such authenticating agent, as the case may be, of satisfactory security or indemnity and evidence, as described
in the preceding paragraph, the Trustee or such authenticating agent may authenticate any such substituted Note and make available
for delivery such Note. Upon the issuance of any substituted Note, the Issuer and the Guarantors may require the payment by the
Holder of a sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in relation thereto and
any other expenses connected therewith. In case any Note which has matured or is about to mature or has been called for redemption,
as the case may be, shall become mutilated or be destroyed, lost or stolen, the Issuer may, instead of issuing a substitute Note,
pay or authorize the payment of, as the case may be, if the applicant for such payment shall furnish to the Issuer on behalf of
the Issuer and the Guarantors, and to the Trustee and, if applicable, to such authenticating agent such security or indemnity as
may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or in connection with
such substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Issuer, the Trustee
and, if applicable, any Paying Agent evidence to their satisfaction of the destruction, loss or theft of such Note and of the ownership
thereof.

 

Every substitute Note
issued pursuant to the provisions of this Section 2.07 by virtue of the fact that any Note is destroyed, lost or stolen shall constitute
an additional contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Note shall be found at any time,
and shall be entitled to all the benefits of (but shall be subject to all the limitations set forth in) this Indenture equally
and proportionately with any and all other Notes duly issued hereunder. To the extent permitted by law, all Notes shall be held
and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment or
exchange or redemption of mutilated, destroyed, lost or stolen Notes and shall preclude any and all other rights or remedies notwithstanding
any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment or redemption of negotiable
instruments or other securities without their surrender.

 

Section
2.08.         Temporary Notes. Pending the preparation of Notes in certificated
form, the Issuer may execute and the Trustee or an authenticating agent appointed by the Trustee shall, upon the written request
of the Issuer, authenticate and deliver temporary Notes (printed or lithographed). Temporary Notes shall be issuable in any authorized
denomination, and substantially in the form of the Notes in certificated form, but with such omissions, insertions and variations
as may be appropriate for temporary Notes, all as may be determined by the Issuer. Every such temporary Note shall be executed
by the Issuer and authenticated by the Trustee or such authenticating agent upon the same conditions and in substantially the same
manner, and with the same effect, as the Notes in certificated form. Without unreasonable delay, the Issuer will execute and deliver
to the Trustee or such authenticating agent, Notes in certificated form and thereupon any or all temporary Notes may be surrendered
in exchange therefor, at each office or agency maintained by the Issuer pursuant to Section 4.02 hereof and the Trustee or such
authenticating agent shall authenticate and make available for delivery in exchange for such temporary Notes an equal aggregate
principal amount of Notes in certificated form. Such exchange shall be made by the Issuer at its own expense and without any charge
therefor. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits and subject to the same
limitations under this Indenture as Notes in certificated form authenticated and delivered hereunder.

 

    	-25-

    	 

    

 

Section
2.09.         Cancellation of Notes. All Notes surrendered for the purpose
of payment, redemption or registration of transfer or exchange shall, if surrendered to the Issuer or any Paying Agent, which shall
initially be the Trustee, or any Note Registrar, be surrendered to the Trustee and promptly canceled by it or, if surrendered to
the Trustee, shall be promptly canceled by it and no Notes shall be issued in lieu thereof except as expressly permitted by any
of the provisions of this Indenture. The Trustee shall dispose of such canceled Notes in accordance with its customary procedures,
with copies of such cancelled Notes and related documentation provided to the Issuer. If the Issuer shall acquire any of the Notes,
such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Notes unless and until
the same are delivered to the Trustee for cancellation.

 

Section
2.10.         CUSIP Numbers. The Issuer in issuing the Notes 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 Noteholders; provided, that any such notice may state that no representation
is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption and
that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption shall not be
affected by any defect in or omission of such numbers. The Issuer will promptly notify the Trustee of any change in the "CUSIP"
numbers.

 

Section
2.11.         Issuance of Additional Notes. The Issuer will be entitled,
upon delivery of an Officers' Certificate, Opinion of Counsel and Authentication Order, subject to its compliance with Section
4.09 hereof, to issue Additional Notes under the Indenture that will have identical terms to and the same CUSIP number as the Initial
Notes issued on the date of this Indenture other than with respect to the date of issuance, issue price, the date from which interest
accrues on such Additional Notes, and if applicable, the first interest payment date. The Initial Notes and any such Additional
Notes will constitute a single series of debt securities, and in circumstances in which this Indenture provides for the Holders
of Notes to vote or take any action, the Holders of Initial Notes and the Holders of any such Additional Notes will vote or take
the action as a single class.

 

With respect to any
Additional Notes, the Issuer will set forth in a resolution of its Board of Trustees and an Officers' Certificate, a copy of each
of which will be delivered to the Trustee, the following information:

 

(1)         the
aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture;

 

(2)         the
issue price, the issue date and the CUSIP number of such Additional

 

Notes; and

 

(3)         whether
such Additional Notes shall be transfer restricted Notes and issued in the form of Initial Notes as set forth in Section 2.04 hereof
or shall be issued in the form of Exchange Notes.

 

    	-26-

    	 

    

 

Article
3

REDEMPTION OF NOTES

 

Section
3.01.         Optional Redemption of Notes. (a) The Issuer shall
have the right to redeem the Notes at its option and in its sole discretion at any time or from time to time prior to the Maturity
Date, in whole or in part. The redemption price ("Redemption Price") will equal the greater of (i) 100% of
the principal amount of the Notes to be redeemed or (ii) as determined by the Quotation Agent, the sum of the present values
of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued
as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the Adjusted Treasury Rate plus 35 basis points (0.35% or thirty-five one-hundredths of one percent), plus, in
each case, accrued and unpaid interest thereon to the applicable Redemption Date; provided, however, that
if the Redemption Date falls after a Record Date and on or prior to the corresponding interest payment date, the Issuer will pay
the full amount of accrued and unpaid interest, if any (plus Additional Interest, if applicable), on such interest payment date
to the Holder of record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Notes
for redemption). Notwithstanding the foregoing, if the Notes are redeemed on or after March 15, 2023, the Redemption Price will
be equal to 100% of the principal amount of the Notes being redeemed plus unpaid interest, if any, accrued thereon to, but excluding,
the Redemption Date.

 

(a)           The
Issuer shall not redeem the Notes pursuant to Section 3.01(a) hereof on any date if the principal amount of the Notes has
been accelerated, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an acceleration
resulting from a default by the Issuer in the payment of the Redemption Price with respect to the Notes to be redeemed).

 

Section
3.02.         Notice of Optional Redemption; Selection of Notes. In
case the Issuer shall desire to exercise the right to redeem all or, as the case may be, any part of the Notes pursuant to Section
3.01 hereof, it shall fix a date for redemption and it or, at its written request received by the Trustee not fewer than five (5) Business
Days prior (or such shorter period of time as may be acceptable to the Trustee) to the date the notice of redemption is to be mailed
(or sent by electronic transmission), the Trustee in the name of and at the expense of the Issuer, shall mail (or send by electronic
transmission) or cause to be mailed (or sent by electronic transmission) a notice of such redemption not fewer than thirty (30)
calendar days nor more than sixty (60) calendar days prior to the Redemption Date to each Holder of Notes so to be redeemed
in whole or in part at its last address as the same appears on the Note Register; provided, that if the Issuer makes such
request of the Trustee, it shall, together with such request, also give written notice of the Redemption Date to the Trustee; provided
further that the text of the notice shall be prepared by the Issuer. Such mailing shall be by first class mail (unless sent
by electronic transmission). The notice, if mailed in the manner herein provided, shall be conclusively presumed to have been duly
given, whether or not the Holder receives such notice. In any case, failure to give such notice by mail or any defect in the notice
to the Holder of any Note designated for redemption as a whole or in part shall not affect the validity of the proceedings for
the redemption of any other Note.

 

Each such notice of
redemption shall specify: (i) the aggregate principal amount of Notes to be redeemed, (ii) the CUSIP number or numbers,
if any, of the Notes being redeemed, (iii) the Redemption Date (which shall be a Business Day), (iv) the Redemption Price
at which Notes are to be redeemed, (v) the place or places of payment and that payment will be made upon presentation and
surrender of such Notes and (vi) that interest accrued and unpaid to, but excluding, the Redemption Date will be paid as specified
in said notice, and that on and after said date interest thereon or on the portion thereof to be redeemed will cease to accrue.
If fewer than all the Notes are to be redeemed, the notice of redemption shall identify the Notes to be redeemed (including CUSIP
numbers, if any). In case any Note is to be redeemed in part only, the notice of redemption shall state the portion of the principal
amount thereof to be redeemed and shall state that, on and after the Redemption Date, upon surrender of such Note, a new Note or
Notes in principal amount equal to the unredeemed portion thereof will be issued.

 

    	-27-

    	 

    

 

Whenever any Notes
are to be redeemed, the Issuer will give the Trustee written notice of the Redemption Date, together with an Officers' Certificate
as to the aggregate principal amount of Notes to be redeemed not fewer than thirty-five (35) calendar days (or such shorter period
of time as may be acceptable to the Trustee) prior to the Redemption Date.

 

On or prior to the
Redemption Date specified in the notice of redemption given as provided in this Section 3.02, the Issuer will deposit with the
Paying Agent (or, if the Issuer is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in Section
4.04 hereof) an amount of monies in immediately available funds sufficient to redeem on the Redemption Date all the Notes (or portions
thereof) so called for redemption at the appropriate Redemption Price; provided, that if such payment is made on the Redemption
Date, it must be received by the Paying Agent, by 11:00 a.m., New York City time, on such date. The Issuer shall be entitled to
retain any interest, yield or gain on amounts deposited with the Paying Agent pursuant to this Section 3.02 in excess of amounts
required hereunder to pay the Redemption Price.

 

If less than all of
the outstanding Notes are to be redeemed, the Trustee shall select the Notes or portions thereof of the Global Note or the Notes
in certificated form to be redeemed (in principal amounts of $2,000 and integral multiples of $1,000 in excess thereof), on a pro
rata basis or such other method the Trustee deems fair and appropriate or is required by the Depositary. The Notes (or portions
thereof) so selected for redemption shall be deemed duly selected for redemption for all purposes hereof.

 

Section
3.03.         Payment of Notes Called for Redemption by the Issuer.
If notice of redemption has been given as provided in Section 3.02 hereof, the Notes or portion of Notes with respect to which
such notice has been given shall become due and payable on the Redemption Date and at the place or places stated in such notice
at the Redemption Price, and unless the Issuer shall default in the payment of such Notes at the Redemption Price, so long as Paying
Agent holds funds sufficient to pay the Redemption Price of the Notes to be redeemed on the Redemption Date, then (a) such
Notes will cease to be outstanding on and after the Redemption Date, (b) interest on the Notes or portion of Notes so called
for redemption shall cease to accrue on and after the Redemption Date, (c) after 5:00 p.m., New York City time, on the second
Business Day immediately preceding the Redemption Date (unless the Issuer shall default in the payment of the Redemption Price)
and, except as provided in Section 7.05 and Section 11.02 hereof, such Notes will cease to be entitled to any benefit or security
under this Indenture, and (d) the Holders of the Notes shall have no right in respect of such Notes except the right to receive
the Redemption Price thereof. On presentation and surrender of such Notes at a place of payment in said notice specified, the said
Notes or the specified portions thereof shall be paid and redeemed by the Issuer at the Redemption Price, together with interest
accrued thereon to, but excluding, the Redemption Date.

 

Upon presentation of
any Note redeemed in part only, the Issuer shall execute and the Trustee shall authenticate and make available for delivery to
the Holder thereof, at the expense of the Issuer, a new Note or Notes, of authorized denominations, in principal amount equal to
the unredeemed portion of the Notes so presented.

 

Section
3.04.         Sinking Fund. There shall be no sinking fund provided
for the Notes.

 

    	-28-

    	 

    

 

Article
4

CERTAIN COVENANTS OF THE ISSUER

 

Section
4.01.         Payment of Principal, Premium and Interest. The Issuer
covenants and agrees that it will duly and punctually pay or cause to be paid when due the principal of (including the Redemption
Price upon redemption pursuant to Article 3 hereof), and premium, if any, and interest on each of the Notes at the places, at the
respective times and in the manner provided herein and in the Notes; provided, that the Issuer or Paying Agent may withhold from
payments of interest and upon redemption pursuant to Article 3 hereof, maturity or otherwise, any amounts the Issuer or Paying
Agent is required to withhold by law.

 

Section
4.02.         Maintenance of Office or Agency. The Issuer will maintain
an office or agency, where the Notes may be surrendered for registration of transfer or exchange or for presentation for payment
or redemption and where notices and demands to or upon the Issuer in respect of the Notes and this Indenture may be served. As
of the date of this Indenture, such office shall be the Corporate Trust Office and, at any other time, at such other address as
the Trustee may designate from time to time by notice to the Issuer. The Issuer will give prompt written notice to the Trustee
of the location, and any change in the location, of such office or agency not designated or appointed by the Trustee. If at any
time the Issuer 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.

 

The Issuer may also
from time to time designate co-registrars and one or more offices or agencies where the Notes may be presented or surrendered for
any or all such purposes and may from time to time rescind such designations. The Issuer 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.

 

The Issuer hereby initially
designates the Trustee as Paying Agent, Note Registrar and Custodian, and the Corporate Trust Office shall be considered as one
such office or agency of the Issuer for each of the aforesaid purposes.

 

So long as the Trustee
is the Note Registrar, the Trustee agrees to mail (or send by electronic transmission), or cause to be mailed, the notices set
forth in Section 7.10 and the third paragraph of Section 7.11 hereof. If co-registrars have been appointed in accordance with this
Section 4.02, the Trustee shall mail such notices only to the Issuer and the Holders of Notes it can identify from its records.

 

Section
4.03.         Appointments to Fill Vacancies in Trustee's Office. The
Issuer, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, upon the terms and conditions and
otherwise as provided in Section 7.10 hereof, a Trustee, so that there shall at all times be a Trustee hereunder.

 

Section
4.04.         Provisions as to Paying Agent.

 

(a)           If
the Issuer shall appoint a Paying Agent other than the Trustee, or if the Trustee shall appoint such a Paying Agent, the Issuer
will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee,
subject to the provisions of this Section 4.04:

 

(1)         that
it will hold all sums held by it as such agent for the payment of the principal of and premium, if any, or interest on the Notes
(whether such sums have been paid to it by the Issuer or by any other obligor on the Notes) in trust for the benefit of the Holders
of the Notes;

 

    	-29-

    	 

    

 

(2)         that
it will give the Trustee notice of any failure by the Issuer (or by any other obligor on the Notes) to make any payment of the
principal of and premium, if any, or interest on the Notes when the same shall be due and payable; and

  

(3)         that
at any time during the continuance of an Event of Default, upon request of the Trustee, it will forthwith pay to the Trustee all
sums so held in trust.

 

The Issuer shall, on
or before each due date of the principal of, premium, if any, or interest on the Notes, deposit with the Paying Agent a sum (in
funds which are immediately available on the due date for such payment) sufficient to pay such principal, premium, if any, or interest
and (unless such Paying Agent is the Trustee) the Issuer will promptly notify the Trustee of any failure to take such action; provided,
that if such deposit is made on the due date, such deposit shall be received by the Paying Agent by 11:00 a m. New York
City time, on such date.

 

(b)           If
the Issuer shall act as its own Paying Agent, it will, on or before each due date of the principal of, premium, if any, or interest
on the Notes, set aside, segregate and hold in trust for the benefit of the Holders of the Notes a sum sufficient to pay such principal,
premium, if any, and interest so becoming due and will promptly notify the Trustee of any failure to take such action and of any
failure by the Issuer (or any other obligor under the Notes) to make any payment of the principal of, premium, if any, or interest
on the Notes when the same shall become due and payable.

 

(c)           Anything
in this Section 4.04 to the contrary notwithstanding, the Issuer may, at any time, for the purpose of obtaining a satisfaction
and discharge of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by the
Issuer or any Paying Agent hereunder as required by this Section 4.04, such sums to be held by the Trustee upon the trusts herein
contained and upon such payment by the Issuer or any Paying Agent to the Trustee, the Issuer or such Paying Agent shall be released
from all further liability with respect to such sums.

 

(d)          Anything
in this Section 4.04 to the contrary notwithstanding, the agreement to hold sums in trust as provided in this Section 4.04 is subject
to Section 11.02 and Section 11.03 hereof.

 

The Trustee shall not
be responsible for the actions of any other Paying Agents (including the Issuer if acting as its own Paying Agent) and shall have
no control of any funds held by such other Paying Agents.

 

Section
4.05.         Existence. Subject to Article 10 hereof, each of the Issuer
and the Guarantors will do or cause to be done all things necessary to preserve and keep in full force and effect its existence,
rights (charter and statutory) and franchises; provided, that neither the Issuer nor any Guarntor shall not be required
to preserve any such right or franchise if the Board of Trustees of the Issuer, as applicable, as applicable, shall determine that
the preservation thereof is no longer desirable in the conduct of the business of the Issuer or any Guarantor.

 

Section
4.06.         Provision of Financial Information. (a) Whether or
not required by the rules and regulations of the Commission, so long as any Notes are outstanding, the Issuer will furnish to the
Trustee:

 

(1)         all
quarterly and annual reports that would be required to be filed with the Commission on Forms 10-Q and 10-K if the Issuer were required
to file such reports; and

 

(2)         all
current reports that would be required to be filed with the Commission on Form 8-K if the Issuer were required to file such reports,

 

    	-30-

    	 

    

 

in each case within fifteen (15) days
after the Issuer files such reports with the Commission or would be required to file such reports with the Commission pursuant
to the applicable rules and regulations of the Commission, whichever is earlier. Reports, information and documents filed with
the Commission via the Commission's Electronic Data Gathering, Analysis and Retrieval system ("EDGAR") will be
deemed to be delivered to the Trustee as of the time of such filing via EDGAR for purposes of this covenant; provided, however,
that the Trustee shall have no obligation whatsoever to determine whether or not such information, documents or reports have
been filed via EDGAR and it being understood that such are delivered to the Trustee for informational purposes only and the Trustee
has no liability or responsibility for the timeliness or content of any such report.

 

All such reports will
be prepared in all material respects in accordance with all of the rules and regulations applicable to such reports. Each annual
report on Form 10-K will include a report on the Issuer's consolidated financial statements by its independent registered public
accounting firm, unless otherwise permitted by the Commission. Following the consummation of the Exchange Offer contemplated by
the Registration Rights Agreement, the Issuer will file a copy of each of the reports referred to in clauses (1) and (2) above
with the Commission for public availability within the time periods specified in the rules and regulations applicable to such reports
(unless the Commission will not accept such a filing) and will make the reports available on its website within fifteen (15)
days after it files such reports with the Commission.

 

If, at any time after
consummation of the Exchange Offer contemplated by the Registration Rights Agreement, the Issuer is no longer subject to the periodic
reporting requirements of the Exchange Act for any reason, the Issuer will nevertheless continue filing the reports specified in
clauses (1) and (2) above with the Commission within the time periods specified above unless the Commission will not
accept such a filing. The Issuer will not take any action for the purpose of causing the Commission not to accept any such filings.
If, notwithstanding the foregoing, the Commission will not accept the Issuer's filings for any reason, the Issuer will make the
reports referred to in clauses (1) and (2) above available on its website within fifteen (15) days after the Issuer
would be required to file such reports with the Commission.

 

(b)          For
so long as any Notes remain outstanding, if at any time it is not required to file with the Commission the reports required by
paragraphs (a) of this Section 4.06, the Issuer will furnish to the Holders and to prospective investors, upon their request,
the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.

 

Section
4.07.        Stay, Extension and Usury Laws. The Issuer covenants (to
the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take
the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Issuer from paying
all or any portion of the principal, premium, if any, or interest on the Notes as contemplated herein, wherever enacted, now or
at any time hereafter in force, or which may affect the covenants or the performance of this Indenture and the Issuer (to the extent
it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort
to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the
execution of every such power as though no such law had been enacted.

 

Section
4.08.        Compliance Certificate. Within one hundred twenty (120)
calendar days after the end of each fiscal year of the Issuer, the Issuer shall deliver to the Trustee a certificate signed by
any Officers of the Issuer stating whether or not the signer has knowledge of any Default under this Indenture, and, if so, specifying
each Default and the nature and the status thereof.

 

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The Issuer will deliver
to the Trustee, within thirty (30) calendar days of becoming aware of (i) any default in the performance or observance
of any covenant, agreement or condition contained in this Indenture, or (ii) any Event of Default, an Officers' Certificate
specifying with particularity such default or Event of Default and further stating what action the Issuer has taken, is taking
or proposes to take with respect thereto.

 

Any notice required
to be given under this Section 4.08 shall be delivered to a Responsible Officer of the Trustee at its Corporate Trust Office.

 

Section
4.09.        Limitations on Incurrence of Debt.

 

(a)          Limitation
on Total Outstanding Debt. The Issuer will not, and will not permit any of its Subsidiaries to, incur any Debt (including,
without limitation, Acquired Debt) if, immediately after giving effect to the incurrence of such Debt and the application of the
proceeds from such Debt on a pro forma basis, the aggregate principal amount of all of the Issuer's and its Subsidiaries' outstanding
Debt (determined on a consolidated basis in accordance with United States generally accepted accounting principles) is greater
than 60% of the sum of the following (without duplication): (1) the Issuer's and its Subsidiaries' Total Assets as of the
last day of the then most recently ended fiscal quarter and (2) the aggregate purchase price of any real estate assets or
mortgages receivable acquired, and the aggregate amount of any securities offering proceeds received (to the extent such proceeds
were not used to acquire real estate assets or mortgages receivable or used to reduce Debt), by the Issuer or any Subsidiary of
the Issuer since the end of such fiscal quarter, including the proceeds obtained from the incurrence of such additional Debt.

 

(b)          Limitation
on Secured Debt. The Issuer will not, and will not permit any of its Subsidiaries to, incur any Debt (including, without limitation,
Acquired Debt) secured by any Lien on any of the Issuer's or any of its Subsidiaries' property or assets, whether owned on the
date of this Indenture or subsequently acquired, if, immediately after giving effect to the incurrence of such Debt and the application
of the proceeds from such Debt on a pro forma basis, the aggregate principal amount of all of the Issuer's and its Subsidiaries'
outstanding Debt (determined on a consolidated basis in accordance with United States generally accepted accounting principles)
which is secured by a Lien on any of the Issuer's or its Subsidiaries' property or assets is greater than 40% of the sum of (without
duplication): (1) the Issuer's and its Subsidiaries' Total Assets as of the last day of the then most recently ended fiscal
quarter; and (2) the aggregate purchase price of any real estate assets or mortgages receivable acquired, and the aggregate
amount of any securities offering proceeds received (to the extent such proceeds were not used to acquire real estate assets or
mortgages receivable or used to reduce Debt), by the Issuer or any of its Subsidiaries since the end of such fiscal quarter, including
the proceeds obtained from the incurrence of such additional Debt.

 

(c)          Debt
Service Test.

 

(1)         The
Issuer will not, and will not permit any of its Subsidiaries to, incur any Debt (including, without limitation, Acquired Debt)
if the ratio of Consolidated Income Available for Debt Service to Annual Debt Service Charge for the period consisting of the four
consecutive fiscal quarters most recently ended prior to the date on which such additional Debt is to be incurred shall have been
less than 1.5:1 on a pro forma basis after giving effect to the incurrence of such Debt and the application of the proceeds from
such Debt (determined on a consolidated basis in accordance with United States generally accepted accounting principles), and calculated
on the following assumptions:

 

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(A)         such
Debt and any other Debt (including, without limitation, Acquired Debt) incurred by the Issuer or any of its Subsidiaries since
the first day of such four- quarter period had been incurred, and the application of the proceeds from such Debt (including to
repay or retire other Debt) had occurred, on the first day of such period;

 

(B)         the
repayment or retirement of any other Debt of the Issuer or any of its Subsidiaries since the first day of such four-quarter period
had occurred on the first day of such period (except that, in making this computation, the amount of Debt under any revolving credit
facility, line of credit or similar facility will be computed based upon the average daily balance of such Debt during such period);
and

 

(C)         in
the case of any acquisition or disposition by the Issuer or any of its Subsidiaries of any asset or group of assets with a fair
market value in excess of $1.0 million since the first day of such four-quarter period, whether by merger, stock purchase or sale
or asset purchase or sale or otherwise, such acquisition or disposition had occurred as of the first day of such period with the
appropriate adjustments with respect to such acquisition or disposition being included in such pro forma calculation.

 

(2)           If
the Debt giving rise to the need to make the calculation described in Section 4.09(c)(1) or any other Debt incurred after
the first day of the relevant four-quarter period bears interest at a floating rate, then, for purposes of calculating the Annual
Debt Service Charge, the interest rate on such Debt will be computed on a pro forma basis by applying the average daily rate which
would have been in effect during the entire four-quarter period to the greater of the amount of such Debt outstanding at the end
of such period or the average amount of such Debt outstanding during such period. For purposes of this Section 4.09(c), Debt will
be deemed to be incurred by the Issuer or any of its Subsidiaries whenever the Issuer or any of its Subsidiaries shall create,
assume, guarantee (on a non-contingent basis) or otherwise become liable in respect thereof.

 

(d)          Maintenance
of Total Unencumbered Assets. The Issuer and its Subsidiaries will not have at any time Total Unencumbered Assets of less than
150% of the aggregate principal amount of all of the Issuer's and its Subsidiaries' outstanding Unsecured Debt determined on a
consolidated basis in accordance with United States generally accepted accounting principles.

 

Section
4.10.         Insurance. The Issuer will, and will cause of each of
its Subsidiaries to, keep in force upon all of the Issuer's and each of its Subsidiaries' properties and operations insurance policies
carried with responsible insurance companies in such amounts and covering all such risks as is customary in the industry in which
the Issuer and its Subsidiaries do businesses in accordance with prevailing market conditions and availability.

 

Section
4.11.         Maintenance of Properties. The Issuer will cause all of
its and its Subsidiaries’ properties used or useful in the conduct of the business of the Issuer or any of its Subsidiaries
to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and the Issuer
will cause all necessary repairs, renewals, replacements, betterments and improvements to be made, all as in the Issuer's judgment
may be necessary in order for the Issuer to at all times properly and advantageously conduct its business carried on in connection
with such properties.

 

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Section
4.12.        Payment of Taxes and Other Claims. The Issuer will pay
or discharge or cause to be paid or discharged before it becomes delinquent: (i) all taxes, assessments and governmental charges
levied or imposed on the Issuer or any of its Subsidiaries or on its or any such Subsidiary's income, profits or property; and
(ii) all lawful claims for labor, materials and supplies that, if unpaid, might by law become a Lien upon its property or
the property of any of its Subsidiaries; provided, however, that the Issuer will not be required to pay or discharge
or cause to be paid or discharged any tax, assessment, charge or claim the amount, applicability or validity of which is being
contested in good faith.

 

Section
4.13.        Additional Interest Notice. In the event that the Issuer
is required to pay Additional Interest to Holders of Notes pursuant to the Registration Rights Agreement or this Indenture, the
Issuer will provide written notice ("Additional Interest Notice") to the Trustee of its obligation to pay Additional
Interest no later than fifteen (15) calendar days prior to the proposed interest payment date for Additional Interest, and
the Additional Interest Notice shall set forth the amount of Additional Interest to be paid by the Issuer on such interest payment
date. The Trustee shall not at any time be under any duty or responsibility to any Holder of Notes to determine the Additional
Interest, or with respect to the nature, extent or calculation of the amount of Additional Interest when made, or with respect
to the method employed in such calculation of the Additional Interest.

 

Article
5

NOTEHOLDERS' LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE

 

Section
5.01.        Noteholders' Lists. The Issuer covenants and agrees that
it will furnish or cause to be furnished to the Trustee, semiannually, not more than fifteen (15) calendar days after each
June 15 and December 15 of each year beginning with December 15, 2013, and at such other times as the Trustee may reasonably request
in writing, within thirty (30) calendar days after receipt by the Issuer of any such request (or such lesser time as the Trustee
may reasonably request in order to enable it to timely provide any notice to be provided by it hereunder), a list in such form
as the Trustee may reasonably require of the names and addresses of the Holders of Notes as of a date not more than fifteen (15)
calendar days (or such other date as the Trustee may reasonably request in order to so provide any such notices) prior to the time
such information is furnished, except that no such list need be furnished by the Issuer to the Trustee so long as the Trustee is
acting as the sole Note Registrar.

 

Section
5.02.        Preservation and Disclosure of Lists. (a) The Note Registrar
shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the Holders
of Notes contained in the most recent list furnished to it as provided in Section 5.01 hereof or maintained by the Trustee in its
capacity as Note Registrar or co-registrar in respect of the Notes, if so acting. The Trustee may destroy any list furnished to
it as provided in Section 5.01 hereof upon receipt of a new list so furnished.

 

(b)          The
rights of Noteholders to communicate with other Holders of Notes with respect to their rights under this Indenture or under the
Notes, and the corresponding rights and duties of the Trustee, shall be as provided by the Trust Indenture Act.

 

(c)          Every
Noteholder agrees with the Issuer and the Trustee that neither the Issuer 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 of Notes made pursuant to the
Trust Indenture Act.

 

Section
5.03.        Reports by Trustee. (a) On or before June 15 of each year
beginning with June 15, 2013, the Trustee shall transmit to Holders of Notes such reports dated as of June 15 of the year
in which such reports are made 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. In the event that no events have occurred under the applicable
Sections of the Trust Indenture Act, the Trustee shall be under no duty or obligation to provide such reports.

 

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(b)          A
copy of any such report shall, at the time of such transmission to Holders of Notes, be filed by the Trustee with each stock exchange
and automated quotation system, if any, upon which the Notes are listed and with the Issuer. The Issuer will promptly notify the
Trustee in writing if the Notes are listed on any stock exchange or automated quotation system or delisted therefrom, and in the
absence of such notice, the Trustee shall have no responsibility to make any such filing.

 

Article
6

REMEDIES OF THE TRUSTEE AND NOTEHOLDERS ON AN EVENT OF DEFAULT

 

Section
6.01.        Events of Default. In case one or more of the following
(each an "Event of Default") (whatever the reason for such Event of Default and whether it shall be voluntary
or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule
or regulation of any administrative or governmental body) shall have occurred and be continuing:

 

(a)          default
for thirty (30) days in the payment of any installment of interest under the Notes; or

 

(b)          default
in the payment of the principal amount or Redemption Price due with respect to the Notes, when the same becomes due and payable;
or

 

(c)          the
Issuer or any Guarantor fails to comply with any of the Issuer's or such Guarantor’s other agreements contained in the Notes
or this Indenture upon receipt by the Issuer of notice of such default from the Trustee or from Holders of not less than twenty
five percent (25%) in aggregate principal amount of the Notes then outstanding and the Issuer or such Guarantor fails to cure (or
obtain a waiver of) such default within sixty (60) days after the Issuer receives such notice; or

 

(d)          the
Guarantee of any Guarantor required to guarantee the Notes ceases to be in full force and effect or such Guarantor denies or disaffirms
in writing its obligations under the Indenture or its Guarantee; or

 

(e)          failure
to pay any recourse indebtedness for money borrowed by the Issuer or any Subsidiary of the Issuer in an outstanding principal amount
in excess of $35,000,000 at final maturity or upon acceleration after the expiration of any applicable grace period, which recourse
indebtedness is not discharged, or such default in payment or acceleration is not cured or rescinded, within thirty (30) days after
written notice to the Issuer from the Trustee (or to the Issuer and the Trustee from Holders of at least twenty-five percent (25%)
in principal amount of the outstanding Notes); or

 

(f)           the Issuer or any of its Material Subsidiaries pursuant to or under or within the
meaning of any Bankruptcy Law:

 

(i)          commences
a voluntary case or proceeding seeking liquidation, reorganization or other relief with respect to the Issuer or any of its Material
Subsidiaries or their debts or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official
of the Issuer or any of its Material Subsidiaries or any substantial part of the property of the Issuer or any of its Material
Subsidiaries; or

 

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(ii)         consents
to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding
commenced against the Issuer or any of its Material Subsidiaries; or

 

(iii)        consents
to the appointment of a custodian of it or for all or substantially all of its property; or

 

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

 

(g)          an
involuntary case or other proceeding shall be commenced against the Issuer or any of its Material Subsidiaries seeking liquidation,
reorganization or other relief with respect to the Issuer or any of its Material Subsidiaries or their debts under any bankruptcy,
insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian
or other similar official of the Issuer or any of its Material Subsidiaries or any substantial part of the property of the Issuer
or any of its Material Subsidiaries, and such involuntary case or other proceeding shall remain undismissed and unstayed for a
period of thirty (30) calendar days; or

 

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

 

(i)          is
for relief against the Issuer or any of its Material Subsidiaries in an involuntary case or proceeding; or

 

(ii)         appoints
a trustee, receiver, liquidator, custodian or other similar official of the Issuer or any of its Material Subsidiaries or any substantial
part of the property of the Issuer or any of its Material Subsidiaries; or

 

(iii)        orders
the liquidation of the Issuer or any of its Material Subsidiaries;

 

and, in each case in this clause (g), the order or
decree remains unstayed and in effect for thirty (30) calendar days,

 

then, in each and every such case (other
than an Event of Default specified in Section 6.01(f), 6.01(g) or 6.01(h) hereof with respect to the Issuer), unless
the principal of all of the Notes shall have already become due and payable, either the Trustee or the Holders of at least twenty
five percent (25%) in aggregate principal amount of the Notes then outstanding, by notice in writing to the Issuer (and to the
Trustee if given by Noteholders), may declare the principal amount of and premium, if any, and interest accrued and unpaid on all
the Notes to be immediately due and payable, and upon any such declaration the same shall be immediately due and payable.

 

If an Event of Default
specified in Section 6.01(f), 6.01(g) or 6.01(h) hereof occurs with respect to the Issuer, the principal amount of and
premium, if any, and interest accrued and unpaid on all the Notes shall be immediately and automatically due and payable without
necessity of further action.

 

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If, at any time after
the principal amount of and premium, if any, and interest on the Notes shall have been so declared due and payable, and before
any judgment or decree for the payment of the monies due shall have been obtained or entered as hereinafter provided, Holders of
a majority in aggregate principal amount of the Notes then outstanding on behalf of the Holders of all of the Notes then outstanding,
by written notice to the Issuer and to the Trustee, may waive all defaults or Events of Default and rescind and annul such declaration
and its consequences, subject in all respects to Section 6.07 hereof, if all Events of Default, other than the nonpayment of the
principal amount and any accrued and unpaid interest that have become due solely because of such acceleration, have been cured
or waived. No such rescission and annulment shall extend to or shall affect any subsequent Default or Event of Default, or shall
impair any right consequent thereon. The Issuer shall notify in writing a Responsible Officer of the Trustee, within thirty (30)
calendar days of upon becoming aware thereof, of any Event of Default, as provided in Section 4.08 hereof.

 

In case the Trustee
shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because
of such waiver or rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then
and in every such case the Issuer, the Guarantors, the Holders of Notes, and the Trustee shall be restored respectively to their
several positions and rights hereunder, and all rights, remedies and powers of the Issuer, the Guarantors, the Holders of Notes,
and the Trustee shall continue as though no such proceeding had been taken.

 

Section
6.02.        Payments of Notes on Default; Suit Therefor. The Issuer
covenants that in the case of an Event of Default pursuant to Section 6.01(a) or 6.01(b) hereof, upon demand of the Trustee,
the Issuer will pay to the Trustee, for the benefit of the Holders of the Notes, (i) the whole amount that then shall be due
and payable on all such Notes for principal and premium, if any, or interest, as the case may be, with interest upon the overdue
principal and premium, if any, and (to the extent that payment of such interest is enforceable under applicable law) upon the overdue
installments of accrued and unpaid interest at the rate borne by the Notes, plus 1%, from the required payment date and, (ii) in
addition thereto, any amounts due the Trustee hereunder. Until such demand by the Trustee, the Issuer may pay the principal of
and premium, if any, and interest on the Notes to the registered Holders, whether or not the Notes are overdue.

 

In case the Issuer
shall fail forthwith to pay such amounts upon such demand, the Trustee, in its own name and as trustee of an express trust, shall
be entitled and empowered to institute any actions or proceedings at law or in equity for the collection of the sums so due and
unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final
decree against the Issuer or any other obligor on the Notes and collect in the manner provided by law out of the property of the
Issuer or any other obligor on the Notes wherever situated the monies adjudged or decreed to be payable.

 

In case there shall
be pending proceedings for the bankruptcy or for the reorganization of the Issuer or any other obligor on the Notes under any Bankruptcy
Law, or any other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator
or similar official shall have been appointed for or taken possession of the Issuer or such other obligor, the property of the
Issuer or such other obligor, or in the case of any other judicial proceedings relative to the Issuer or such other obligor upon
the Notes, or to the creditors or property of the Issuer or such other obligor, the Trustee, irrespective of whether the principal
of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the
Trustee shall have made any demand pursuant to the provisions of this Section 6.02 hereof, shall be entitled and empowered, by
intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal, premium,
if any, accrued and unpaid interest in respect of the Notes, and, in case of any judicial proceedings, to file such proofs of claim
and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and of the Noteholders
allowed in such judicial proceedings relative to the Issuer or any other obligor on the Notes, its or their creditors, or its or
their property, and to collect and receive any monies or other property payable or deliverable on any such claims, and to distribute
the same after the deduction of any amounts due the Trustee hereunder, and to take any other action with respect to such claims,
including participating as a member of any official committee of creditors, as it reasonably deems necessary or advisable, unless
prohibited by law or applicable regulations, and any receiver, assignee or trustee in bankruptcy or reorganization, liquidator,
custodian or similar official is hereby authorized by each of the Noteholders 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 Noteholders, to pay to the Trustee any amount
due it for reasonable compensation, expenses, advances and disbursements, including counsel fees and expenses incurred by it up
to the date of such distribution. To the extent that such payment of reasonable compensation, expenses, advances and disbursements
out of the estate in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and
shall be paid out of, any and all distributions, dividends, monies, securities and other property which the Holders of the Notes
may be entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise.

 

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All rights of action
and of asserting claims under this Indenture, or under any of the Notes, may be enforced by the Trustee without the possession
of any of the Notes, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding
instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall,
after provision for 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 Notes.

 

In any proceedings
brought by the Trustee (and in any proceedings involving the interpretation of any provision of this Indenture to which the Trustee
shall be a party) the Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any
Holder of the Notes parties to any such proceedings.

 

Section
6.03.        Application of Monies Collected by Trustee. Any monies
collected by the Trustee pursuant to this Article 6, shall be applied, in the following order, at the date or dates fixed by the
Trustee for the distribution of such monies, upon presentation of the several Notes, and stamping thereon the payment, if only
partially paid, and upon surrender thereof, if fully paid:

 

FIRST:  To
the payment of all amounts due the Trustee hereunder (acting in any capacity);

 

SECOND: In case the
principal of the outstanding Notes shall not have become due and be unpaid, to the payment of accrued and unpaid interest, if any,
on the Notes in default in the order of the maturity of the installments of such interest, with interest (to the extent that such
interest has been collected by the Trustee) as provided in Section 6.02 hereof upon the overdue installments of interest at the
annual rate of 1% above then applicable interest rate, such payments to be made ratably to the Persons entitled thereto;

 

THIRD:  In
case the principal of the outstanding Notes shall have become due, by declaration or otherwise, and be unpaid, to the payment of
the whole amount then owing and unpaid upon the Notes for principal and premium, if any, and interest, with interest on the overdue
principal and premium, if any, and (to the extent that such interest has been collected by the Trustee) upon overdue installments
of accrued and unpaid interest, as provided in Section 6.02 hereof, and in case such monies shall be insufficient to pay in full
the whole amounts so due and unpaid upon the Notes, then to the payment of such principal and premium, if any, and interest without
preference or priority of principal and premium, if any, over interest, or of interest over principal and premium, if any, or of
any installment of interest over any other installment of interest, or of any Note over any other Note, ratably to the aggregate
of such principal and premium, if any, and accrued and unpaid interest; and

 

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FOURTH:  To
the payment of the remainder, if any, to the Issuer or any other Person lawfully entitled thereto.

 

Section
6.04.        Proceedings by Noteholders. No Holder of any Note shall
have any right by virtue of or by reference to any provision of this Indenture to institute any suit, action or proceeding in equity
or at law upon or under or with respect to this Indenture, or for the appointment of a receiver, trustee, liquidator, custodian
or other similar official, or for any other remedy hereunder, except in the case of a default in the payment of principal, premium,
if any, or interest on the Notes, unless (a) such Holder previously shall have given to the Trustee written notice of an Event
of Default and of the continuance thereof, as hereinbefore provided, (b) the Holders of at least twenty five percent (25%)
in aggregate principal amount of the Notes then outstanding shall have made written request upon the Trustee to institute such
action, suit or proceeding in its own name as Trustee hereunder and shall have offered to the Trustee such security or indemnity
as it may require against the costs, liabilities or expenses to be incurred therein or thereby, (c) the Trustee for ninety (90)
calendar days after its receipt of such notice, request and offer of indemnity, shall have neglected or refused to institute any
such action, suit or proceeding and (d) no direction inconsistent with such written request shall have been given to the Trustee
pursuant to Section 6.07 hereof; it being understood and intended, and being expressly covenanted by the taker and Holder of every
Note with every other taker and Holder and the Trustee, that no one or more Holders of Notes shall have any right in any manner
whatever by virtue of or by reference to any provision of this Indenture to affect, disturb or prejudice the rights of any other
Holder of Notes, or to obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any right under
this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Holders of Notes (except
as otherwise provided herein). For the protection and enforcement of this Section 6.04, each and every Noteholder and the Trustee
shall be entitled to such relief as can be given either at law or in equity.

 

Notwithstanding any
other provision of this Indenture and any provision of any Note, the right of any Holder of any Note to receive payment of the
principal of (including the Redemption Price upon redemption pursuant to Article 3 hereof) and premium, if any, and accrued interest
on such Note, on or after the respective due dates expressed in such Note or in the event of redemption, or to institute suit for
the enforcement of any such payment on or after such respective dates against the Issuer shall not be impaired or affected without
the consent of such Holder.

 

Section
6.05.        Proceedings by Trustee. In case of an Event of Default,
the Trustee may proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings
as are necessary to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy
or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise
of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture
or by law.

 

Section
6.06.        Remedies Cumulative and Continuing. All powers and remedies
given by this Article 6 to the Trustee or to the Noteholders shall, to the extent permitted by law, be deemed cumulative and not
exclusive of any thereof or of any other powers and remedies available to the Trustee or the Holders of the Notes, by judicial
proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture,
and no delay or omission of the Trustee or of any Holder of any of the Notes to exercise any right or power accruing upon any Default
or Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver
of any such Default or any acquiescence therein, and, subject to the provisions of Section 6.04 hereof, every power and remedy
given by this Article 6 or by law to the Trustee or to the Noteholders may be exercised from time to time, and as often as shall
be deemed expedient, by the Trustee or by the Noteholders.

 

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Section
6.07.        Direction of Proceedings and Waiver of Defaults by Majority
of Noteholders. The Holders of not less than a majority in aggregate principal amount of the Notes at the time outstanding
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; provided, that (a) such direction shall not be in conflict
with any rule of law or with this Indenture, (b) the Trustee may take any other action which is not inconsistent with such
direction, (c) the Trustee may decline to take any action that would benefit some Noteholders to the detriment of other Noteholders
or otherwise be unduly prejudicial to the Noteholders not joining therein and (d) the Trustee may decline to take any action
that would involve the Trustee in personal liability or violate any law or provision hereof. Prior to taking any such action hereunder,
the Trustee shall be entitled to indemnification reasonably satisfactory to it in its sole discretion against all losses and expenses
caused by taking or not taking such action.

 

The Holders of a majority
in aggregate principal amount of the Notes at the time outstanding may, on behalf of the Holders of all of the Notes, waive any
past Default or Event of Default hereunder and its consequences except (i) a default in the payment of the principal of (including
the Redemption Price upon redemption pursuant to Article 3 hereof), premium, if any, or interest on the Notes, unless such default
has been cured and the Issuer or any Guarantor has deposited with the Trustee all required payments of the principal of, premium,
if any, and interest on the Notes (provided, however, that the Holders of a majority in aggregate principal amount of the
Notes then outstanding may rescind an acceleration and its consequences, including any related payment default that resulted from
such acceleration) or (ii) a default in respect of a covenant or provisions hereof which under Article 9 hereof cannot be
modified or amended without the consent of the Holders of all Notes then outstanding or each Note affected thereby.

 

Upon any such waiver,
the Issuer, the Guarantors, the Trustee and the Holders of the Notes shall be restored to their former positions and rights hereunder;
but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon.
Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 6.07, said Default or Event
of Default shall for all purposes of the Notes and this Indenture be deemed to have been cured and to be not continuing; but no
such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon.

 

Section
6.08.        Notice of Defaults. The Trustee shall, within ninety (90)
calendar days after a Responsible Officer of the Trustee has actual knowledge of the occurrence of a Default, mail (or send by
electronic transmission) to all Noteholders, as the names and addresses of such Holders appear upon the Note Register, notice of
all Defaults known to a Responsible Officer, unless such Defaults shall have been cured or waived before the giving of such notice;
provided, that except in the case of default in the payment of the principal of (including the Redemption Price upon
redemption pursuant to Article 3 hereof), or interest on any of the Notes, the Trustee shall be protected in withholding such notice
if and so long as it in good faith determines that the withholding of such notice is in the interest of the Noteholders.

 

Section
6.09.        Undertaking to Pay Costs. All parties to this Indenture
agree, and each Holder of any Note by its acceptance thereof shall be deemed to have agreed, that any court may, in its discretion,
require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such
suit and that such court may in its discretion assess reasonable costs, including reasonable attorneys' fees and expenses, against
any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant;
provided, that the provisions of this Section 6.09 (to the extent permitted by law) shall not apply to any suit instituted
by the Issuer or the Guarantors, to any suit instituted by the Trustee, to any suit instituted by any Noteholder, or group of Noteholders,
holding in the aggregate more than ten percent (10%) in principal amount of the Notes at the time outstanding determined in accordance
with Section 8.04 hereof, or to any suit instituted by any Noteholder for the enforcement of the payment of the principal of (including
the Redemption Price upon redemption pursuant to Article 3 hereof), or interest on any Note on or after the due date expressed
in such Note.

 

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Article
7

THE TRUSTEE

 

Section
7.01.        Duties and Responsibilities of Trustee. The Trustee, prior
to the occurrence of an Event of Default and after the curing or waiver of all Events of Default which may have occurred, undertakes
to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default has occurred
(which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture,
and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances
in the conduct of its own affairs.

 

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

 

(a)          prior
to the occurrence of an Event of Default and after the curing or waiving of all Events of Default which may have occurred:

 

(i)          the
duties and obligations of the Trustee shall be determined solely by the express provisions of this Indenture and the Trust Indenture
Act, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth
in this Indenture and no implied covenants or obligations shall be read into this Indenture and the Trust Indenture Act against
the Trustee; and

 

(ii)         in
the absence of gross negligence, bad faith and willful misconduct on the part of the Trustee, the Trustee may conclusively rely
as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished
to the Trustee and conforming to the requirements of this Indenture; but, in the case of any such certificates or opinions which
by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine
the same to determine whether or not they conform to the requirements of this Indenture;

 

(b)          the
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Officers of the Trustee, unless
the Trustee was grossly negligent in ascertaining the pertinent facts;

 

(c)          the
Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the
written direction of the Holders of not less than a majority in principal amount of the Notes at the time outstanding determined
as provided in Section 8.04 hereof relating to the time, method and place of conducting any proceeding for any remedy available
to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture;

 

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(d)          whether
or not therein 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 7.01;

 

(e)          the
Trustee shall not be liable in respect of any payment (as to the correctness of amount, entitlement to receive or any other matters
relating to payment) or notice effected by the Issuer or any Paying Agent (other than the Trustee) or any records maintained by
any co-registrar (other than the Trustee) with respect to the Notes;

 

(f)          if
any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires notice to be sent
to the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred;
and

 

(g)          the
Trustee shall not be deemed to have knowledge of any Event of Default hereunder unless a Responsible Officer of the Trustee has
been notified in writing of such Event of Default by the Issuer or a Holder of Notes.

 

None of the provisions
contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal financial liability
in the performance of any of its duties or in the exercise of any of its rights or powers, if there is reasonable ground for believing
that the repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

 

Except as explicitly
specified otherwise herein, the Issuer will be responsible for making all calculations required under this Indenture and the Notes.
The Issuer will make such calculations in good faith and, absent manifest error, the Issuer's calculations will be final and binding
on Holders of the Notes. The Issuer will provide a schedule of its calculations to the Trustee, and the Trustee is entitled to
rely upon the accuracy of the Issuer's calculations without independent verification. The Trustee will forward the Issuer's calculations
to any Holder of the Notes upon request.

 

Section
7.02.        Reliance on Documents, Opinions, etc. Except as otherwise
provided in Section 7.01 hereof:

 

(a)          the
Trustee may conclusively rely and shall be protected in acting upon any resolution, certificate, statement, instrument, opinion,
report, notice, request, consent, order, bond, debenture, Note, coupon or other paper or document (whether in its original, facsimile
or electronic form) believed by it in good faith to be genuine and to have been signed or presented by the proper party or parties;

 

(b)          any
request, direction, order or demand of the Issuer mentioned herein shall be sufficiently evidenced by an Officers' Certificate
(unless other evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Trustees of the
Issuer may be evidenced to the Trustee by a copy thereof certified by the Secretary or an Assistant Secretary of the Issuer;

 

(c)          the
Trustee may consult with counsel of its own selection and any advice or Opinion of Counsel shall be full and complete authorization
and protection in respect of any action taken or omitted by it hereunder in good faith and in reliance on and in accordance with
such advice or Opinion of Counsel;

 

(d)          the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order
or direction of any of the Noteholders pursuant to the provisions of this Indenture, unless such Noteholders shall have offered
to the Trustee security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which may be incurred
therein or thereby;

 

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(e)          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 or other paper or document, but the Trustee
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 Issuer, personally
or by agent or attorney;

 

(f)          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
by it with due care hereunder;

 

(g)          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;

 

(h)          the
rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified,
are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other
Person employed to act hereunder;

 

(i)          the
Trustee may request that the Issuer deliver an Officers' Certificate setting forth the names of individuals and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture, which Officers' Certificate may be signed by any
person authorized to sign an Officers' Certificate, including any person specified as so authorized in any such certificate previously
delivered and not superseded;

 

(j)          any
permissive right or authority granted to the Trustee shall not be construed as a mandatory duty;

 

(k)          in
no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action; and

 

(l)          the
Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder.

 

Section
7.03.        No Responsibility for Recitals, etc. The recitals contained
herein and in the Notes (except in the Trustee's certificate of authentication) shall be taken as the statements of the Issuer,
and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity
or sufficiency of this Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Issuer
of any Notes or the proceeds of any Notes authenticated and delivered by the Trustee in conformity with the provisions of this
Indenture.

 

Section
7.04.        Trustee, Paying Agents or Registrar May Own Notes.
The Trustee, any Paying Agent or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes
with the same rights it would have if it were not Trustee, Paying Agent or Note Registrar.

 

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Section
7.05.        Monies to Be Held in Trust. Subject to the provisions
of Section 11.02 hereof, all monies received by the Trustee shall, until used or applied as herein provided, be held in trust for
the purposes for which they were received. Monies held by the Trustee in trust hereunder need not be segregated from other funds
except to the extent required by law. Except as otherwise provided herein, the Trustee shall be under no liability for interest
on any monies received by it hereunder except as may be agreed in writing from time to time by the Issuer and the Trustee.

 

Section
7.06.        Compensation and Expenses of Trustee. The Issuer covenants
and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation for all services rendered
by it hereunder in any capacity (which shall not be limited by any provision of law in regard to the compensation of a trustee
of an express trust) as mutually agreed to from time to time in writing between the Issuer and the Trustee, and the Issuer will
pay or reimburse the Trustee upon its request for all reasonable out-of-pocket expenses, disbursements and advances reasonably
incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable out-of-pocket
compensation and the reasonable out-of-pocket expenses and disbursements of its counsel and of all Persons not regularly in its
employ) except any such expense, disbursement or advance as may arise from its negligence, willful misconduct, recklessness or
bad faith. The Issuer also covenants to indemnify and hold harmless the Trustee and any predecessor Trustee (or any officer, director
or employee of the Trustee), in any capacity under this Indenture and any authenticating agent for, and to hold them harmless against,
any and all loss, liability, damage, claim or reasonable out-of-pocket expense including taxes (other than taxes based on the income
of the Trustee) and the reasonable out-of-pocket compensation and the reasonable out-of-pocket expenses and disbursements of its
counsel incurred without gross negligence, willful misconduct, recklessness or bad faith on the part of the Trustee or such officers,
directors, employees or authenticating agent, as the case may be, and arising out of or in connection with the acceptance or administration
of this trust or in any other capacity hereunder, including the reasonable out-of-pocket costs and expenses of defending themselves
against any claim (whether asserted by the Issuer, any Holder or any other Person) of liability in the premises. The obligations
of the Issuer under this Section 7.06 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for reasonable
out-of-pocket expenses, disbursements and advances shall be secured by a lien prior to that of the Notes upon all property and
funds held or collected by the Trustee as such, except funds held in trust for the benefit of the Holders of particular Notes.
The obligation of the Issuer under this Section 7.06 shall survive the satisfaction and discharge of this Indenture, and/or removal
or resignation of the Trustee.

 

Trustee shall have
no liability or responsibility for the action or inaction of any Depositary, Quotation Agent or any other such party acting in
connection herewith.

 

When the Trustee (in
any capacity) and its agents and any authenticating agent incur expenses or render services after an Event of Default specified
in Section 6.01(f), 6.01(g) or 6.01(h) hereof with respect to the Issuer occurs, the expenses and the compensation for
the services are intended to constitute reasonable expenses of administration under any bankruptcy, insolvency or similar laws.

 

Section
7.07.        Officers' Certificate as Evidence. Except as otherwise
provided in Section 7.01 hereof, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary
or desirable that a matter be proved or established prior to taking or omitting any action hereunder, such matter (unless other
evidence in respect thereof be herein specifically prescribed) may, in the absence of gross negligence, bad faith, recklessness
or willful misconduct on the part of the Trustee, be deemed to be conclusively proved and established by an Officers' Certificate
delivered to the Trustee.

 

Section
7.08.        Conflicting Interests of Trustee. 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.

 

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Section
7.09.        Eligibility of Trustee. There shall at all times be a
Trustee hereunder which shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a combined
capital and surplus of at least $50,000,000 (or if such Person is a member of a bank holding company system, its bank holding company
shall have a combined capital and surplus of at least $50,000,000). If such Person publishes reports of condition at least annually,
pursuant to law or to the requirements of any supervising or examining authority, then for the purposes of this Section 7.09 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 shall cease to be eligible in accordance with the provisions of this
Section 7.09, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

 

Section
7.10.        Resignation or Removal of Trustee. (a) The Trustee may
at any time resign by giving written notice of such resignation to the Issuer and to the Holders of Notes. Upon receiving such
notice of resignation, the Issuer shall promptly appoint a successor trustee by written instrument, in duplicate, one copy of which
instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have
been so appointed and have accepted appointment sixty (60) calendar days after the mailing of such notice of resignation to
the Noteholders, the resigning Trustee may, upon ten (10) Business Days' notice to the Issuer and the Noteholders, appoint
a successor identified in such notice or may petition, at the expense of the Issuer, any court of competent jurisdiction for the
appointment of a successor trustee, or, if any Noteholder who has been a bona fide holder of a Note or Notes for at least six months
may, subject to the provisions of Section 6.09 hereof, on behalf of itself and all others similarly situated, petition any such
court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and
prescribe, appoint a successor trustee.

 

(b)          In
case at any time any of the following shall occur:

 

(i)          the
Trustee shall fail to comply with Section 7.08 hereof after written request therefor by the Issuer or by any Noteholder who has
been a bona fide holder of a Note or Notes for at least six months; or

 

(ii)         the
Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 hereof and shall fail to resign after written
request therefor by the Issuer or by any such Noteholder; or

 

(iii)        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, the Issuer may
remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered
to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 6.09 hereof, any Noteholder
who has been a bona fide holder of a Note or Notes for at least six months may, on behalf of itself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided,
that if no successor Trustee shall have been appointed and have accepted appointment sixty (60) calendar days after
either the Issuer or the Noteholders have removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at
the expense of the Issuer, any court of competent jurisdiction for an appointment of a successor trustee. Such court may thereupon,
after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.

 

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(c)          Any
resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section
7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11 hereof.

 

(d)          Notwithstanding
the replacement of the Trustee pursuant to this Section 7.10, the Issuer's obligations under Section 7.06 hereof shall continue
for the benefit of the retiring Trustee.

 

Section
7.11.        Acceptance by Successor Trustee. Any successor trustee
appointed as provided in Section 7.10 hereof shall execute, acknowledge and deliver to the Issuer and to its predecessor trustee
an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become
effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers,
duties and obligations of its predecessor hereunder, with like effect as if originally named as trustee herein; but, nevertheless,
on the written request of the Issuer or of the successor trustee, the trustee ceasing to act shall, upon payment of any amount
then due it pursuant to the provisions of Section 7.06 hereof, execute and deliver an instrument transferring to such successor
trustee all the rights and powers of the trustee so ceasing to act. Upon request of any such successor trustee, the Issuer shall
execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all
such rights and powers. Any trustee ceasing to act shall, nevertheless, retain a lien upon all property and funds held or collected
by such trustee as such, except for funds held in trust for the benefit of Holders of particular Notes, to secure any amounts then
due it pursuant to the provisions of Section 7.06 hereof.

 

No successor trustee
shall accept appointment as provided in this Section 7.11 unless, at the time of such acceptance, such successor trustee shall
be qualified under the provisions of Section 7.08 hereof and be eligible under the provisions of Section 7.09 hereof. The removed
or resigning Trustee shall have no liability or responsibility for the action or inaction of any successor Trustee.

 

Upon acceptance of
appointment by a successor trustee as provided in this Section 7.11, the Issuer (or the former trustee, at the written direction
of the Issuer) shall mail (or send by electronic transmission) or cause to be mailed (or sent by electronic transmission) notice
of the succession of such trustee hereunder to the Holders of Notes at their addresses as they shall appear on the Note Register.
If the Issuer fails to mail such notice within ten (10) calendar days after acceptance of appointment by the successor
trustee, the successor trustee shall cause such notice to be mailed at the expense of the Issuer.

 

Section
7.12.        Succession by Merger. Any corporation into which the Trustee
may be merged or exchanged or with which it may be consolidated, or any corporation resulting from any merger, exchange or consolidation
to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business
of the Trustee (including any trust created by this Indenture), shall be the successor to the Trustee hereunder without the execution
or filing of any paper or any further act on the part of any of the parties hereto, provided, that in the case of
any corporation succeeding to all or substantially all of the corporate trust business of the Trustee, such corporation shall be
qualified under the provisions of Section 7.08 hereof and eligible under the provisions of Section 7.09 hereof.

 

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In case at the time
such successor to the Trustee shall succeed to the trusts created by this Indenture, any of the Notes shall have been authenticated
but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee or
authenticating agent appointed by such predecessor trustee, and deliver such Notes so authenticated; and in case at that time any
of the Notes shall not have been authenticated, any successor to the Trustee or any authenticating agent appointed by such successor
trustee may authenticate such Notes in the name of the successor trustee; and in all such cases such certificates shall have the
full force that is provided in the Notes or in this Indenture; provided, that the right to adopt the certificate of authentication
of any predecessor Trustee or authenticate Notes in the name of any predecessor Trustee shall apply only to its successor or successors
by merger, exchange or consolidation.

 

Section
7.13.        Preferential Collection of Claims. If and when the Trustee
shall be or become a creditor of the Issuer (or any other obligor upon the Notes), the Trustee shall be subject to the provisions
of the Trust Indenture Act regarding the collection of the claims against the Issuer (or any such other obligor).

 

Section
7.14.        United States Patriot Act. To help the government fight
the funding of terrorism and money laundering activities, the federal law of the United States requires all financial institutions
to obtain, verify, and record information that identifies each person who opens an account. For a non-individual person such as
a business entity, a charity, a trust, or other legal entity, the Trustee may ask for documentation to verify its formation and
existence as a legal entity. The Trustee may also ask to see financial statements, licenses, identification and authorization documents
from individuals claiming authority to represent the entity or other relevant documentation.

 

Article
8

THE NOTEHOLDERS

 

Section
8.01.        Action by Noteholders. Whenever in this Indenture it is
provided that the Holders of a specified percentage in aggregate principal amount of the Notes may take any action (including the
making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that
at the time of taking any such action, the Holders of such specified percentage have joined therein may be evidenced (a) by
any instrument or any number of instruments of similar tenor executed by Noteholders in person or by agent or proxy appointed in
writing, or (b) by the record of the Holders of Notes voting in favor thereof at any meeting of Noteholders, or (c) by
a combination of such instrument or instruments and any such record of such a meeting of Noteholders. Whenever the Issuer or the
Trustee solicits the taking of any action by the Holders of the Notes, the Issuer or the Trustee may fix in advance of such solicitation
a date as the Record Date for determining Holders entitled to take such action. The Record Date, if any, shall be not more than
fifteen (15) calendar days prior to the date of commencement of solicitation of such action.

 

Section
8.02.        Proof of Execution by Noteholders. Subject to the provisions
of Sections 7.01 and 7.02 hereof, proof of the execution of any instrument by a Noteholder or its agent or proxy shall be sufficient
if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall
be satisfactory to the Trustee. The holding of Notes shall be proved by the registry of such Notes or by a certificate of the Note
Registrar.

 

Section
8.03.        Absolute Owners. The Issuer, the Trustee, any Paying Agent
and any Note Registrar may deem the Person in whose name such Note shall be registered upon the Note Register to be, and may treat
it as, the absolute owner of such Note (whether or not such Note shall be overdue and notwithstanding any notation of ownership
or other writing thereon made by any Person other than the Issuer or any Note Registrar) for the purpose of receiving payment of
or on account of the principal of (including the Redemption Price upon redemption pursuant to Article 3 hereof), premium, if any,
and interest on such Note and for all other purposes; and neither the Issuer nor the Trustee nor any Paying Agent nor any Note
Registrar shall be affected by any notice to the contrary. All such payments so made to any Holder for the time being, or upon
its order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for
monies payable upon any such Note.

 

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Section
8.04.        Issuer-owned Notes Disregarded. In determining whether
the Holders of the requisite aggregate principal amount of Notes have concurred in any direction, consent, waiver or other action
under this Indenture or whether a quorum is present at a meeting of the Holders of the Notes, Notes which are owned by the Issuer
or any other obligor on the Notes or any Affiliate of the Issuer or any other obligor on the Notes shall be disregarded and deemed
not to be outstanding for the purpose of any such determination; provided, that for the purposes of determining whether
the Trustee shall be protected in relying on any such direction, consent, waiver or other action, only Notes which a Responsible
Officer knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as outstanding
for the purposes of this Section 8.04 if the pledgee shall establish to the satisfaction of the Trustee the pledgee's right to
vote such Notes and that the pledgee is not the Issuer, any other obligor on the Notes or any Affiliate of the Issuer or any such
other obligor. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be
full protection to the Trustee. Upon request of the Trustee, the Issuer shall furnish to the Trustee promptly an Officers' Certificate
listing and identifying all Notes, if any, known by the Issuer to be owned or held by or for the account of any of the above described
Persons, and, subject to Section 7.01 hereof, the Trustee shall be entitled to accept such Officers' Certificate as conclusive
evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any
such determination.

 

Section
8.05.        Revocation of Consents; Future Holders Bound. At any time
prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01 hereof, of the taking of any action by the
Holders of the percentage in aggregate principal amount of the Notes specified in this Indenture in connection with such action,
any Holder of a Note which is shown by the evidence to be included in the Notes the Holders of which have consented to such action
may, by filing written notice with the Trustee at its Corporate Trust Office and upon proof of holding as provided in Section 8.02
hereof, revoke such action so far as it concerns such Note. Except as aforesaid, any such action taken by the Holder of any Note
shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Note and of any Notes issued in
exchange or substitution therefor, irrespective of whether any notation in regard thereto is made upon such Note or any Note issued
in exchange or substitution therefor.

 

Article
9

SUPPLEMENTAL INDENTURES

 

Section
9.01.        Supplemental Indentures Without Consent of Noteholders.
The Issuer, the Guarantors and the Trustee may, from time to time, and at any time enter into an indenture or indentures supplemental
to this Indenture without the consent of the Holders of the Notes hereto for one or more of the following purposes:

 

(a)          to
evidence a successor to the Issuer as obligor or to the Guarantors as guarantors under this Indenture;

 

(b)          to
add to the covenants of the Issuer or the Guarantors for the benefit of the Holders of the Notes or to surrender any right or power
conferred upon the Issuer or the Guarantors in this Indenture or in the Notes;

 

(c)          to
add Events of Default for the benefit of the Holders of the Notes;

 

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(d)          to
amend or supplement any provisions of this Indenture; provided, that no amendment or supplement shall materially
adversely affect the interests of the Holders of any Notes then outstanding;

 

(e)          to
secure the Notes;

 

(f)          to
provide for the acceptance of appointment of a successor Trustee or facilitate the administration of the trusts under this Indenture
by more than one Trustee;

 

(g)          to
provide for rights of Holders of Notes if any consolidation, merger or sale of all or substantially all of property or assets of
the Issuer and the Guarantors occurs;

 

(h)          to
cure any ambiguity, defect or inconsistency in this Indenture; provided, that this action shall not adversely affect the
interests of the Holders of the Notes in any material respect;

 

(i)          to
provide for the issuance of Additional Notes in accordance with the limitations set forth in this Indenture;

 

(j)          to
supplement any of the provisions of this Indenture to the extent necessary to permit or facilitate defeasance and discharge of
any of the Notes; provided, that the action shall not adversely affect the interests of the Holders of the Notes
in any material respect; or

 

(k)          to
conform the text of this Indenture, the Guarantee or the Notes to any provision of the description thereof set forth in the Offering
Memorandum to the extent that such provision in the Offering Memorandum was intended to be a verbatim recitation of a provision
in this Indenture, the Guarantee or the Notes.

 

Upon the written request
of the Issuer, accompanied by a copy of the resolutions of the Issuer authorizing the execution of any supplemental indenture,
the Trustee is hereby authorized to join with the Issuer and the Guarantors in the execution of any such supplemental indenture,
to make any further appropriate agreements and stipulations that may be therein contained and to accept the conveyance, transfer
and assignment of any property thereunder, but the Trustee shall not be obligated to, but may in reliance on an Opinion of Counsel,
enter into any supplemental indenture that affects the Trustee's own rights, duties or immunities under this Indenture or otherwise.
The Trustee may rely on an Opinion of Counsel and Officers’ Certificate that such supplemental indenture is permitted by
this Indenture.

 

Any supplemental indenture
authorized by the provisions of this Section 9.01 may be executed by the Issuer, the Guarantors and the Trustee without the consent
of the Holders of any of the Notes at the time outstanding, notwithstanding any of the provisions of Section 9.02 hereof.

 

Section
9.02.        Supplemental Indenture With Consent of Noteholders. With
the consent (evidenced as provided in Article 8 hereof) of the Holders of not less than a majority in aggregate principal
amount of the Notes at the time outstanding, the Issuer, the Guarantors and the Trustee may, from time to time and at any time,
enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of this Indenture or any supplemental indenture or modifying in any manner the rights of the
Holders of the Notes; provided, that no such supplemental indenture shall, without the consent of the Holder of each Note
affected thereby:

 

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(a)          change
the Stated Maturity of the principal of or any installment of interest on the Notes, reduce the principal amount of, or the rate
or amount of interest on, or any premium payable on redemption of, the Notes, or adversely affect any right of repayment of the
Holder of the Notes, change the place of payment, or the coin or currency, for payment of principal of or interest on any Note
or impair the right to institute suit for the enforcement of any payment on or with respect to the Notes;

 

(b)          reduce
the percentage in principal amount of the outstanding Notes necessary to modify or amend this Indenture, to waive compliance with
certain provisions of this Indenture or certain defaults and their consequences provided in this Indenture, or to reduce the requirements
of quorum or change voting requirements set forth in this Indenture;

 

(c)          modify
or affect in any manner adverse to the Holders the terms and conditions of the obligations of the Issuer or the Guarantors in respect
of the due and punctual payments of principal and interest; or

 

(d)          modify
any of this Section 9.02 or Section 6.07 hereof or any of the provisions relating to the waiver of certain past Defaults or certain
covenants, except to increase the required percentage to effect the action or to provide that certain other provisions may not
be modified or waived without the consent of the Holders of the Notes.

 

Upon the written request
of the Issuer, accompanied by a copy of the resolutions of the Issuer authorizing the execution of any supplemental indenture,
and upon the filing with the Trustee of evidence of the consent of Noteholders as aforesaid, the Trustee shall join with the Issuer
and the Guarantors in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee's own
rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not
be obligated to, enter into such supplemental indenture. The Trustee may rely on an Opinion of Counsel and Officers’ Certificate
that such supplemental indenture is permitted by this Indenture.

 

It shall not be necessary
for the consent of the Noteholders under this Section 9.02 to approve the particular form of any proposed supplemental indenture,
but it shall be sufficient if such consent shall approve the substance thereof.

 

Section
9.03.        Effect of Supplemental Indenture. Any supplemental indenture
executed pursuant to the provisions of this Article 9 shall comply with the Trust Indenture Act, as then in effect, provided that
this Section 9.03 shall not require such supplemental indenture or the Trustee to be qualified under the Trust Indenture Act prior
to the time, if ever, such qualification is in fact required under the terms of the Trust Indenture Act or the Indenture has been
qualified under the Trust Indenture Act, nor shall it constitute any admission or acknowledgment by any party to such supplemental
indenture that any such qualification is required prior to the time, if ever, such qualification is in fact required under the
terms of the Trust Indenture Act or the Indenture has been qualified under the Trust Indenture Act. Upon the execution of any supplemental
indenture pursuant to the provisions of this Article 9, this Indenture shall be and be deemed to be modified and amended in accordance
therewith and the respective rights, limitation of rights, obligations, duties and immunities under this Indenture of the Trustee,
the Issuer, the Guarantors and the Holders of Notes shall thereafter be determined, exercised and enforced hereunder, subject in
all respects to such modifications and amendments and all the terms and conditions of any such supplemental indenture shall be
and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.

 

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Section
9.04.        Notation on Notes. Notes authenticated and delivered after
the execution of any supplemental indenture pursuant to the provisions of this Article 9 may bear a notation in form approved by
the Trustee as to any matter provided for in such supplemental indenture. If the Issuer or the Trustee shall so determine, new
Notes so modified as to conform, in the opinion of the Trustee and the Issuer, to any modification of this Indenture contained
in any such supplemental indenture may, at the Issuer's expense, be prepared and executed by the Issuer, authenticated by the Trustee
(or an authenticating agent duly appointed by the Trustee pursuant to Section 16.11 hereof) and delivered in exchange for the Notes
then outstanding, upon surrender of such Notes then outstanding.

 

Section
9.05.        Evidence of Compliance of Supplemental Indenture to Be Furnished
to Trustee. Prior to entering into any supplemental indenture pursuant to this Article 9, the Trustee shall be provided with
an Officers' Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant hereto
complies with the requirements of this Article 9 and is otherwise authorized or permitted by this Indenture.

 

Article
10

CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE

 

Section
10.01.      The Issuer May Consolidate on Certain Terms. Nothing
contained in this Indenture or in the Notes shall prevent any consolidation or merger of the Issuer with or into any other Person
or Persons (whether or not affiliated with the Issuer), or successive consolidations or mergers in which either the Issuer will
be the continuing entity or the Issuer or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance,
transfer or lease of all or substantially all of the property of the Issuer, to any other Person (whether or not affiliated with
the Issuer); provided, however, that the following conditions are met:

 

(a)          (1)
the Issuer shall be the continuing entity, or (2) the successor entity (if other than the Issuer) formed by or resulting from any
consolidation or merger or which shall have received the transfer of assets shall be domiciled in the United States, any state
thereof or the District of Columbia and shall expressly assume payment of the principal of and interest on all of the Notes and
the due and punctual performance and observance of all of the covenants and conditions in the Indenture;

 

(b)          immediately
after giving effect on a pro forma basis to such transaction, no Default and no Event of Default shall have occurred and be continuing;
and

 

(c)          either
the Issuer or the successor Person, in either case, shall have delivered to the Trustee an Officers' Certificate and an Opinion
of Counsel, each stating that such consolidation, merger, sale, conveyance, transfer or lease and, if a supplemental indenture
is required in connection with such transaction, such supplemental indenture, comply with this Article 10 and that all conditions
precedent herein provided for relating to such transaction have been complied with.

 

No such consolidation,
merger, sale, conveyance, transfer or lease shall be permitted by this Section 10.01 unless prior thereto the Issuer shall have
delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that the Issuer's obligations hereunder
shall remain in full force and effect thereafter.

 

Section
10.02.      The Issuer Successor to Be Substituted. Upon any consolidation
by the Issuer with or merger of the Issuer into any other Person or any sale, conveyance, transfer or lease of all or substantially
all of the properties and assets of the Issuer to any Person in accordance with Section 10.01 hereof, the successor Person formed
by such consolidation or into which the Issuer is merged or to which such sale, conveyance, transfer or lease is made shall succeed
to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as
if such successor Person had been named as the Issuer herein, and thereafter, except in the case of a lease, the predecessor Person
shall be released and discharged from all obligations and covenants under this Indenture, the Notes and the Registration Rights
Agreement.

 

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In case of any such
consolidation, merger, sale, conveyance, transfer or lease, such changes in phraseology and form (but not in substance) may be
made in the Notes thereafter to be issued as may be appropriate.

 

Section
10.03.      Guarantor May Consolidate on Certain Terms. Nothing
contained in this Indenture or in the Notes shall prevent any consolidation or merger of any Guarantor with or into any other Person
or Persons (whether or not affiliated with such Guarantor), or successive consolidations or mergers in which either such Guarantor
will be the continuing entity or such Guarantor or its successor or successors shall be a party or parties, or shall prevent any
sale, conveyance, transfer or lease of all or substantially all of the property of such Guarantor, to any other Person (whether
or not affiliated with such Guarantor); provided, however, that the following conditions are met:

 

(a)          (1)
such Guarantor shall be the continuing entity, or (2) the successor entity (if not such Guarantor) formed by or resulting from
any consolidation or merger or which shall have received the transfer of assets shall be domiciled in the United States, any state
thereof or the District of Columbia and shall expressly assume, by a supplemental indenture, all the obligations of such Guarantor,
if any, under the Notes or its Guarantee, as applicable; provided, however, that the foregoing requirement will not apply in the
case of a Guarantor (x) that has been disposed of in its entirety to another Person (other than to the Issuer or an Affiliate of
the Issuer), whether through a merger, consolidation or sale of capital stock or has sold, leased or conveyed all or substantially
all of its assets or (y) that, as a result of the disposition of all or a portion of its capital stock, ceases to be the Issuer’s
Subsidiary;

 

(b)          immediately
after giving effect on a pro forma basis to such transaction, no Default and no Event of Default shall have occurred and be continuing;
and

 

(c)          either
such Guarantor or the successor Person, in either case, shall have delivered to the Trustee an Officers' Certificate of such Guarantor
and an Opinion of Counsel, each stating that such consolidation, sale, merger, conveyance, transfer or lease and such supplemental
indenture comply with this Article 10 and that all conditions precedent herein provided for relating to such transaction have been
complied with.

 

In the event of any
transaction described in and complying with the conditions listed this Section 10.03 in which such Guarantor is not the continuing
entity and the successor entity formed by or resulting from such consolidation or merger or which shall have received the transfer
of assets is required to execute a supplemental indenture, such successor entity shall succeed, and be substituted for, and may
exercise every right and power of such Guarantor and assume all the duties and obligations under this Indenture and the Guarantee,
and such Guarantor shall be discharged from its obligations under this Indenture and the Guarantee. In the event of any transaction
described in and complying with the conditions listed in this Section 10.03 in which such Guarantor is the continuing entity, no
such consolidation, merger, sale, conveyance, transfer or lease shall be permitted by this Section 10.03 unless prior thereto such
Guarantor shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such
Guarantor’s obligations hereunder shall remain in full force and effect thereafter unless in connection with such consolidation,
merger, sale, conveyance, transfer or lease such Guarantor is released from its obligations under its Guarantee and its obligations
under this Indenture pursuant to Section 15.03.

 

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In case of any such
consolidation, merger, sale, conveyance, transfer or lease, such changes in phraseology and form (but not in substance) may be
made in the Notes thereafter to be issued as may be appropriate.

 

Article
11

SATISFACTION AND DISCHARGE OF INDENTURE

 

Section
11.01.     Discharge of Indenture. This Indenture shall cease to be of further effect (except
as to any surviving rights of registration of transfer or exchange of Notes herein expressly provided for and except as further
provided below), and the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture, when (a) either: (1) all Notes theretofore authenticated and delivered
(other than (i) Notes which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section
11.04 hereof and (ii) Notes for whose payment monies have theretofore been deposited in trust and thereafter repaid to the
Issuer as provided in Section 11.04 hereof) have been delivered to the Trustee for cancellation; or (2) all such Notes not
theretofore delivered to the Trustee for cancellation (i) have become due and payable, whether at the Maturity Date, or otherwise,
or (ii) are to be called for redemption 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 Issuer, and the Issuer, in the case of clause (1) or (2) above,
has irrevocably deposited or caused to be irrevocably deposited with the Trustee or a Paying Agent (other than the Issuer or any
of its Affiliates), as applicable, as trust funds in trust cash in an amount sufficient to pay and discharge the entire indebtedness
on such Notes not theretofore delivered to the Trustee for cancellation, for principal and interest to the date of such deposit
(in the case of Notes which have become due and payable) or to the Maturity Date or Redemption Date, as the case may be; provided,
however, that there shall not exist, on the date of such deposit, a Default or Event of Default; provided,
further, that such deposit shall not result in a breach or violation of, or constitute a Default under, this Indenture
or any other agreement or instrument to which the Issuer is a party or to which the Issuer is bound; (b) the Issuer has paid
or caused to be paid all other sums payable hereunder by the Issuer; and (c) the Issuer 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 Issuer to the Trustee under Section 7.06 hereof shall survive
and, if monies shall have been deposited with the Trustee pursuant to subclause (2) of clause (a) of this Section 11.01,
the provisions of Sections 2.06, 2.07, 2.08, 5.01 hereof and this Article 11, shall survive until the Notes have been paid in full.

 

Section
11.02.     Deposited Monies to Be Held in Trust by Trustee. Subject to Section 11.04 hereof,
all monies deposited with the Trustee pursuant to Section 7.05 hereof shall be held in trust for the sole benefit of the Noteholders,
and such monies shall be applied by the Trustee to the payment, either directly or through any Paying Agent (including the Issuer
if acting as its own Paying Agent), to the Holders of the particular Notes for the payment or redemption of which such monies have
been deposited with the Trustee, of all sums due and to become due thereon for principal, premium, if any, and interest. The Trustee
is not responsible to anyone for interest on any deposited funds except as agreed in writing.

 

Section
11.03.     Paying Agent to Repay Monies Held. Subject to the provisions of Section 11.04
hereof, the Trustee or a Paying Agent shall hold in trust, for the benefit of the Noteholders, all monies deposited with it pursuant
to Section 11.01 hereof and shall apply the deposited monies in accordance with this Indenture and the Notes to the payment of
the principal of (including the Redemption Price upon redemption pursuant to Article 3 hereof) and interest on the Notes.

 

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Section
11.04.     Return of Unclaimed Monies. The Trustee and each Paying Agent shall pay to the
Issuer upon request any monies held by them for the payment of principal or interest that remains unclaimed for two years after
a right to such monies have matured; provided, however, that the Trustee or such Paying Agent, before being
required to make any such payment, may, at the expense of the Issuer, either publish in a newspaper of general circulation in The
City of New York, or cause to be mailed (or sent by electronic transmission) to each Holder entitled to such monies, notice that
such monies remain unclaimed and that after a date specified therein, which shall be at least thirty (30) calendar days from
the date of such mailing or publication, any unclaimed balance of such monies then remaining will be repaid to the Issuer. After
payment to the Issuer, Holders entitled to monies must look to the Issuer for payment as general creditors unless an applicable
abandoned property law designates another person, and the Trustee and each Paying Agent shall be relieved of all liability with
respect to such monies.

 

Section
11.05.     Reinstatement. If the Trustee or the Paying Agent is unable to apply any
monies in accordance with Section 11.02 hereof by reason of any order or judgment of any court or governmental authority
enjoining, restraining or otherwise prohibiting such application, the Issuer's obligations under this Indenture and the Notes
shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.01 hereof until such time as the
Trustee or the Paying Agent is permitted to apply all such monies in accordance with Section 11.02 hereof; provided, that
if the Issuer or any Guarantor makes any payment of principal of or interest on any Note or Guarantee following the
reinstatement of its obligations, the Issuer or such Guarantor shall be subrogated to the rights of the Holders of such Notes
to receive such payment from the monies held by the Trustee or Paying Agent.

 

Article
12

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

Section
12.01.     Option to Effect Legal Defeasance or Covenant Defeasance. The Issuer may, at
its option and at any time, elect to have either Section 12.02 or 12.03 hereof be applied to all outstanding Notes upon compliance
with the conditions set forth below in this Article 12.

 

Section
12.02.     Legal Defeasance and Discharge. Upon the Issuer's exercise under Section 12.01
hereof of the option applicable to this Section 12.02, the Issuer and the Guarantors will, subject to the satisfaction of the conditions
set forth in Section 12.04 hereof, be deemed to have been discharged from their obligations with respect to all outstanding Notes
and Guarantee on the date the conditions set forth below are satisfied (hereinafter, "Legal Defeasance"). For
this purpose, Legal Defeasance means that the Issuer and the Guarantors will be deemed to have paid and discharged the entire Debt
represented by the outstanding Notes and Guarantees, which will thereafter be deemed to be "outstanding" only for the
purposes of Section 12.05 hereof and the other sections of this Indenture referred to in clauses (1) and (2) of Section
12.04(b) below, and to have satisfied all their other obligations under such Notes, the Guarantees and this Indenture (and
the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging the same), except for
the following provisions which will survive until otherwise terminated or discharged hereunder:

 

(a)     the
rights of Holders of outstanding Notes to receive payments in respect of the principal of, or interest or premium and Additional
Interest, if any, on, such Notes when such payments are due from the trust referred to in Section 12.04 hereof;

 

(b)     the
Issuer’s and the Guarantors' obligations with respect to such Notes under Article 2 and Section 4.02 hereof;

 

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(c)     the
rights, powers, trusts, duties and immunities of the Trustee hereunder and the Issuer's and the Guarantors' obligations in connection
therewith; and

 

(d)     this
Article 12.

 

Subject to compliance
with this Article 12, the Issuer may exercise its option under this Section 12.02 notwithstanding the prior exercise of its option
under Section 12.03 hereof.

 

Section
12.03.     Covenant Defeasance. Upon the Issuer's exercise under Section 12.01 hereof of
the option applicable to this Section 12.03, the Issuer and the Guarantors will, subject to the satisfaction of the conditions
set forth in Section 12.04 hereof, be released from each of their obligations under the covenants contained in Sections 4.05, 4.06,
4.08, 4.09, 4.10, 4.11, 4.12 and 4.13 and Article X hereof with respect to the outstanding Notes on and after the date the conditions
set forth in Section 12.04 hereof are satisfied (hereinafter, "Covenant Defeasance"), and the Notes and Guarantees
will thereafter be deemed not "outstanding" for the purposes of any direction, waiver, consent or declaration or act
of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed "outstanding"
for all other purposes hereunder (it being understood that such Notes will not be deemed outstanding for accounting purposes).
For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes and Guarantee, the Issuer and the Guarantors
may omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant,
whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference
in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default
or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes
and Guarantee will be unaffected thereby. In addition, upon the Issuer's exercise under Section 12.01 hereof of the option applicable
to this Section 12.03, subject to the satisfaction of the conditions set forth in Section 12.04 hereof, Sections 6.01(c) and
6.01(e) hereof will not constitute Events of Default.

 

Section
12.04.     Conditions to Legal or Covenant Defeasance. In order to exercise either Legal
Defeasance or Covenant Defeasance under either Section 12.02 or 12.03 hereof:

 

(a)          the
Issuer must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, non-callable
Government Securities, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized
investment bank, appraisal firm, or firm of independent public accountants, to pay the principal of, premium and Additional Interest,
if any, and interest on, the outstanding Notes on the stated date for payment thereof or on the applicable Redemption Date, as
the case may be, and the Issuer must specify whether the Notes are being defeased to such stated date for payment or to a particular
Redemption Date;

 

(b)          in
the case of an election under Section 12.02 hereof, the Issuer must deliver to the Trustee an Opinion of Counsel confirming that:

 

(1)     the
Issuer has received from, or there has been published by, the Internal Revenue Service a ruling; or

 

(2)     since
the date of this Indenture, there has been a change in the applicable federal income tax law, in either case to the effect that,
and based thereon such Opinion of Counsel shall confirm that, the Holders of the outstanding Notes will not recognize income, gain
or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same
amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred;

 

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(c)        in
the case of an election under Section 12.03 hereof, the Issuer must deliver to the Trustee an Opinion of Counsel confirming that
the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such
Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as
would have been the case if such Covenant Defeasance had not occurred;

 

(d)        no
Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or Event of
Default resulting from the borrowing of funds to be applied to such deposit (and any similar concurrent deposit relating to other
indebtedness being defeased, discharged or replaced), and the granting of liens to secure such borrowings);

 

(e)        such
Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material
agreement or instrument (other than this Indenture and the agreements governing any other indebtedness being defeased, discharged
or replaced) to which the Issuer or the Guarantors is a party or by which the Issuer or the Guarantors is bound;

 

(f)        the
Issuer must deliver to the Trustee an Officers' Certificate stating that the deposit was not made by the Issuer with the intent
of preferring the Holders of Notes over the other creditors of the Issuer with the intent of defeating, hindering, delaying or
defrauding any creditors of the Issuer or others; and

 

(g)        the
Issuer must deliver to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent
relating to the Legal Defeasance or the Covenant Defeasance have been complied with.

 

Section
12.05.     Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous
Provisions. Subject to Section 12.06 hereof, all money and non-callable Government Securities (including the proceeds thereof)
deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 12.05, the "Trustee")
pursuant to Section 12.04 hereof in respect of the outstanding Notes will be held in trust and applied by the Trustee, in accordance
with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the
Issuer acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon
in respect of principal, premium and Additional Interest, if any, and interest, but such money need not be segregated from other
funds except to the extent required by law.

 

the Issuer will pay
and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government
Securities deposited pursuant to Section 12.04 hereof 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 the outstanding Notes.

 

Notwithstanding anything
in this Article 12 to the contrary, the Trustee will deliver or pay to the Issuer from time to time upon the request of the Issuer
any money or non-callable Government Securities held by it as provided in Section 12.04 hereof which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which
may be the opinion delivered under Section 12.04(a) hereof), are in excess of the amount thereof that would then be required
to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

 

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Section
12.06.     Repayment to the Issuer. Any money deposited with the Trustee or any Paying Agent,
or then held by the Issuer, in trust for the payment of the principal of, premium or Additional Interest, if any, or interest on,
any Note and remaining unclaimed for two years after such principal, premium or Additional Interest, if any, or interest has become
due and payable shall be paid to the Issuer on its request or (if then held by the Issuer) will be discharged from such trust;
and the Holder of such Note will thereafter be permitted to look only to the Issuer for payment thereof, and all liability of the
Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer as trustee thereof, will 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 Issuer cause to be published once, in The New York Times and The Wall Street Journal (national
edition), notice that such money remains unclaimed and that, after a date specified therein, which will not be less than 30 days
from the date of such notification or publication, any unclaimed balance of such money then remaining will be repaid to the Issuer.

 

Section
12.07.     Reinstatement. If the Trustee or Paying Agent is unable to apply any
U.S. dollars or non-callable Government Securities in accordance with Section 12.02 or 12.03 hereof, as the case may be,
by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, then the Issuer's and the Guarantors' obligations under this Indenture and the Notes and the Guarantees
will be revived and reinstated as though no deposit had occurred pursuant to Section 12.02 or 12.03 hereof until such time as
the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 12.02 or 12.03 hereof, as the
case may be; provided, however, that, if the Issuer or any Guarantor makes any payment of principal of, premium or
Additional Interest, if any, or interest on, any Note following the reinstatement of its obligations, the Issuer or such
Guarantor will be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the
Trustee or Paying Agent.

 

Article
13

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, PARTNERS, MEMBERS, MANAGERS, EMPLOYEES, AGENTS,
OFFICERS, TRUSTEES AND DIRECTORS 

 

Section
13.01.     Indenture and Notes Solely Trust Obligations. Except as otherwise expressly provided
in Article 15 hereof, no recourse for the payment of the principal of (including the Redemption Price upon redemption pursuant
to Article 3 hereof) or, premium, if any, or interest on any Note, or for any claim based thereon or otherwise in respect thereof,
and no recourse under or upon any obligation, covenant or agreement of the Issuer in this Indenture or in any supplemental indenture
or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder,
partner, member, manager, employee, agent, officer, trustee, director or Subsidiary, as such, past, present or future, of the Guarantors,
the Issuer or any of the Issuer’s Subsidiaries of any successor thereto, whether by virtue of any constitution, statute or
rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability
is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the
issue of the Notes.

 

Article
14

MEETINGS OF HOLDERS OF NOTES

 

Section
14.01.     Purposes for Which Meetings May Be Called. A meeting of Holders of Notes
may be called at any time and from time to time pursuant to this Article 14 to make, give or take any request, demand, authorization,
direction, notice, consent, waiver or other act provided by this Indenture to be made, given or taken by Holders of Notes.

 

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Section
14.02.     Call, Notice and Place of Meetings. (a) The Trustee may at any time call a meeting
of Holders of Notes for any purpose specified in Section 14.01 hereof, to be held at such time and at such place in The City of
New York, New York as the Trustee shall determine. Notice of every meeting of Holders of Notes, setting forth the time and the
place of such meeting and in general terms the action proposed to be taken at such meeting, shall be given, in the manner provided
in Section 16.03 hereof, not less than twenty-one (21) nor more than 180 days prior to the date fixed for the meeting.

 

(a)       In
case at any time the Issuer, any Guarantor or the Holders of at least 10% in principal amount of the outstanding Notes shall have
requested the Trustee to call a meeting of the Holders of Notes for any purpose specified in Section 14.01 hereof, by written request
setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have mailed notice
of or made the first publication of the notice of such meeting within twenty-one (21) days after receipt of such request or shall
not thereafter proceed to cause the meeting to be held as provided herein, then the Issuer, any Guarantor or the Holders of Notes
in the amount above specified, as the case may be, may determine the time and the place in the City of New York, New York, for
such meeting and may call such meeting for such purposes by giving notice thereof as provided in clause (a) of this Section
14.02.

 

Section
14.03.     Persons Entitled to Vote at Meetings. To be entitled to vote at any meeting
of Holders of Notes, a Person shall be (a) a Holder of one or more outstanding Notes, or (b) a Person appointed by an
instrument in writing as proxy for a Holder or Holders of one or more outstanding Notes by such Holder or Holders. The only Persons
who shall be entitled to be present or to speak at any meeting of Holders of Notes shall be the Persons entitled to vote at such
meeting and their counsel, any representatives of the Trustee and its counsel, any representatives of the Issuer and its counsel
and any representatives of any Guarantor and their counsel. 

 

Section
14.04.     Quorum; Action. The Persons entitled to vote a majority in principal amount of
the outstanding Notes shall constitute a quorum for a meeting of Holders of Notes; provided, however, that if any action
is to be taken at the meeting with respect to any request, demand, authorization, direction, notice, consent, waiver or other action
which may be made, given or taken by the Holders of not less than a specified percentage in principal amount of the outstanding
Notes, the Persons holding or representing the specified percentage in principal amount of the outstanding Notes will constitute
a quorum. In the absence of a quorum within 30 minutes after the time appointed for any such meeting, the meeting shall, if convened
at the request of Holders of Notes, be dissolved. In any other case the meeting may be adjourned for a period of not less than
ten (10) days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of
a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than ten (10) days
as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of any
adjourned meeting shall be given as provided in Section 14.02 hereof, except that such notice need be given only once not less
than five days prior to the date on which the meeting is scheduled to be reconvened. Notice of the reconvening of an adjourned
meeting shall state expressly the percentage, as provided above, of the principal amount of the outstanding Notes which shall constitute
a quorum.

 

Except as limited by
the proviso to Section 9.02 hereof, any resolution presented to a meeting or adjourned meeting duly reconvened at which a quorum
is present as aforesaid may be adopted only by the affirmative vote of the Holders of a majority in principal amount of the outstanding
Notes; provided, however, that, except as limited by the proviso to Section 9.02 hereof, any resolution with respect to
any request, demand, authorization, direction, notice, consent, waiver or other action which this Indenture expressly provides
may be made, given or taken by the Holders of a specified percentage, which is less than a majority, in principal amount of the
outstanding Notes may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid
by the affirmative vote of the Holders of such specified percentage in principal amount of the outstanding Notes.

 

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Any resolution passed
or decision taken at any meeting of Holders of Notes duly held in accordance with this Section 14.04 shall be binding on all the
Holders of Notes, whether or not such Holders were present or represented at the meeting.

 

Section
14.05.     Determination of Voting Rights; Conduct and Adjournment of Meetings. Notwithstanding
any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting
of Holders of Notes in regard to proof of the holding of Notes and of the appointment of proxies and in regard to the appointment
and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote,
and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise permitted or required
by any such regulations, the holding of Notes shall be proved in the manner specified in Section 8.03 hereof and the appointment
of any proxy shall be proved in the manner specified in Section 8.01 hereof.

 

(a)        The
Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called
by the Issuer or a Guarantor or by Holders of Notes as provided in Section 14.02(b) hereof, in which case the Issuer, any
such Guarantor or the Holders of Notes calling the meeting, as the case may be, shall in like manner appoint a temporary chairman.
A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority
in principal amount of the outstanding Notes of such series represented at the meeting. 

 

(b)        At
any meeting, each Holder of a Note or proxy shall be entitled to one vote for each $1,000 principal amount of Notes held or represented
by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Note challenged as not outstanding
and ruled by the chairman of the meeting to be not outstanding. The chairman of the meeting shall have no right to vote, except
as a Holder of a Note or proxy.

 

(c)        Any
meeting of Holders of Notes duly called pursuant to Section 14.02 hereof at which a quorum is present may be adjourned from time
to time by Persons entitled to vote a majority in principal amount of the outstanding Notes represented at the meeting; and the
meeting may be held as so adjourned without further notice.

 

Section
14.06.     Counting Votes and Recording Action of Meetings. The vote upon any resolution
submitted to any meeting of Holders of Notes shall be by written ballots on which shall be subscribed the signatures of the Holders
of Notes or of their representatives by proxy and the principal amounts and serial numbers of the outstanding Notes held or represented
by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting
for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in triplicate
of all votes cast at the meeting. A record, at least in triplicate, of the proceedings of each meeting of Holders of Notes shall
be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of
votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy
of the notice of the meeting and showing that said notice was given as provided in Section 14.02 hereof and, if applicable, Section
14.04 hereof. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and
one such copy shall be delivered to the Issuer and the Guarantors, and another to the Trustee to be preserved by the Trustee, the
latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence
of the matters therein stated.

 

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Article
15

GUARANTEE

 

Section
15.01.     Guarantee. By its execution hereof, each of the Guarantors acknowledges and
agrees that it receives substantial benefits from the Issuer and that each Guarantor is providing its Guarantee for good and valuable
consideration, including, without limitation, such substantial benefits.  The obligations of any Guarantor in connection
herewith shall not be affected in any way if such Guarantor fails to execute the Guarantee attached to each Note. Accordingly,
subject to the provisions of this Article 15, each of the Guarantors hereby, jointly and severally, unconditionally guarantees
on a senior unsecured basis to each Holder of a Note authenticated and delivered by the Trustee and its successors and assigns
that: (i) the principal of (including the Redemption Price upon redemption pursuant to Article 3 hereof), premium, if
any, and interest and Additional Interest, if any, on the Notes shall be duly and punctually paid in full when due, whether at
the Maturity Date, upon acceleration, upon redemption or otherwise, and interest on overdue principal, premium, if any, Additional
Interest, if any, and (to the extent permitted by law) interest on any interest, if any, on the Notes and all other obligations
of the Issuer to the Holders or the Trustee hereunder or under the Notes (including fees, expenses or other) shall be promptly
paid in full or performed, all in accordance with the terms hereof; and (ii) in case of any extension of time of payment
or renewal of any Notes or any of such other obligations, the same shall be promptly paid in full when due or performed in accordance
with the terms of the extension or renewal, whether at the Maturity Date, by acceleration, call for redemption or otherwise, subject,
however, in the case of clauses (i) and (ii) above, to the limitations set forth in Section 15.03 hereof (collectively,
the "Guarantee Obligations"). Failing payment when due of any amount so guaranteed or any performance so guaranteed
for whatever reason, the Guarantors shall be jointly and severally obligated to pay the same immediately. Each Guarantor agrees
that this is a guarantee of payment and not a guarantee of collection. 

 

Subject to the provisions
of this Article 15, each of the Guarantors hereby agrees that its Guarantee hereunder shall be unconditional, irrespective
of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any
waiver or consent by any Holder of the Notes with respect to any thereof, the entry of any judgment against the Issuer, any action
to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of such
Guarantor.  Each of the Guarantors hereby waives and relinquishes: (a) any right to require the Trustee, the Holders
or the Issuer (each, a "Benefited Party") to proceed against the Issuer or any other Person or to proceed against
or exhaust any security held by a Benefited Party at any time or to pursue any other remedy in any secured party’s power
before proceeding against the Guarantor; (b) any defense that may arise by reason of the incapacity, lack of authority, death
or disability of any other Person or Persons or the failure of a Benefited Party to file or enforce a claim against the estate
(in administration, bankruptcy or any other proceeding) of any other Person or Persons; (c) demand, protest and notice of
any kind (except as expressly required by this Indenture), including but not limited to notice of the existence, creation or incurring
of any new or additional indebtedness or obligation or of any action or non-action on the part of a Guarantor, the Issuer, any
Benefited Party, any creditor of a Guarantor or the Issuer or on the part of any other Person whomsoever in connection with any
obligations the performance of which are hereby guaranteed; (d) any defense based upon an election of remedies by a Benefited
Party, including but not limited to an election to proceed against the Guarantors for reimbursement; (e) any defense based
upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor in other
respects more burdensome than that of the principal; (f) any defense arising because of a Benefited Party’s election,
in any proceeding instituted under the Bankruptcy Law, of the application of Section 1111(b)(2) of the Bankruptcy Law;
and (g) any defense based on any borrowing or grant of a security interest under Section 364 of the Bankruptcy Law. 
The Guarantors hereby covenant that, except as otherwise provided therein, the Guarantees shall not be discharged except by payment
in full of all Guarantee Obligations, including the principal, premium, if any, and interest on the Notes and all other costs provided
for under this Indenture or as provided in Article 7 hereof.

 

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If any Holder or the
Trustee is required by any court or otherwise to return to either the Issuer or the Guarantors, or any trustee or similar official
acting in relation to either the Issuer or the Guarantors, any amount paid by the Issuer or the Guarantors to the Trustee or such
Holder, the Guarantees, to the extent theretofore discharged, shall be reinstated in full force and effect.  The Guarantors
agree that they shall not be entitled to any right of subrogation in relation to the Holders in respect of any Guarantee Obligations
hereby until payment in full of all such obligations guaranteed hereby.  The Guarantors agree that, as between them, on the
one hand, and the Holders of Notes and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby
may be accelerated as provided in Article 6 hereof for the purposes hereof, notwithstanding any stay, injunction or other
prohibition preventing such acceleration in respect of the Guarantee Obligations, and (y) in the event of any acceleration
of such obligations as provided in Article 6 hereof, such Guarantee Obligations (whether or not due and payable) shall forthwith
become due and payable by the Guarantors for the purpose of the Guarantees.

 

Section
15.02.     Execution and Delivery of Guarantee. To evidence its Guarantee set forth in
Section 15.01 hereof, each of the Guarantors agrees that a notation of the Guarantee substantially in the form included in
Exhibit D hereto shall be endorsed on each Note authenticated and delivered by the Trustee and that this Indenture shall
be executed on behalf of such Guarantor by an Officer of such Guarantor.

 

Each of the Guarantors
agrees that its Guarantee set forth in this Article 15 shall remain in full force and effect and apply to all the Notes notwithstanding
any failure to endorse on each Note a notation of such Guarantee.

 

If an officer whose
signature is on a Note or a notation of Guarantee no longer holds that office at the time the Trustee authenticates the Note on
which the Guarantee is endorsed, the Guarantee shall be valid nevertheless.

 

The delivery of any
Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Guarantee set forth in this
Indenture on behalf of the Guarantor.\

 

Section
15.03.     Release of a Guarantor. A Guarantor shall be automatically and unconditionally
released from its obligations under its Guarantee and its obligations under this Indenture and the Registration Rights Agreement
upon termination for any reason of all of the obligations of such Guarantor under the Principal Credit Agreement and the delivery
of the Issuer to the Trustee of an Officers’ Certificate, upon which the Trustee may rely conclusively, with respect to the
foregoing matters, such Guarantor shall be deemed released from all its obligations under this Indenture and its Guarantee and
such Guarantee shall terminate. In addition, a Guarantor’s Guarantee will also terminate and such Guarantor will be deemed
released from all of its Obligations under this Indenture with respect to the Notes in connection if, such Subsidiary ceases to
be a Subsidiary of the Issuer as a result of the disposition of all or a portion of its Capital Stock or assets by the Issuer.
The Trustee shall receive an Officers’ Certificate advising of such automatic release.

 

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Section
15.04.     Future Guarantors. The Issuer will cause each Subsidiary of the Issuer that is
not a Guarantor that is a Principal Credit Agreement Obligor on the Issue Date, and any domestic Subsidiary of the Issuer that
becomes a Principal Credit Agreement Obligor thereafter, to, within 60 days of becoming a Principal Credit Agreement Obligor, execute
and deliver to the Trustee a supplemental indenture pursuant to which such Subsidiary will unconditionally Guarantee, on a joint
and several basis, the full and prompt payment of the principal of, premium, if any, and interest in respect of the Notes on a
senior unsecured basis and all other obligations under this Indenture.

 

Section
15.05.     Limitation of Guarantor’s Liability; Certain Bankruptcy Events. Each Guarantor,
and by its acceptance hereof each Holder, hereby confirms that it is the intention of all such parties that the Guarantee Obligations
of such Guarantor pursuant to its Guarantee not constitute a fraudulent transfer or conveyance for purposes of any Bankruptcy Law,
the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law.  To effectuate
the foregoing intention, the Holders and each Guarantor hereby irrevocably agree that the Guarantee Obligations of each Guarantor
under this Article 15 shall be limited to the maximum amount as shall, after giving effect to all other contingent and fixed
liabilities of the such Guarantor, result in the Guarantee Obligations of such Guarantor under the Guarantee not constituting a
fraudulent transfer or conveyance.

 

Section
15.06.     Each Guarantor hereby covenants and agrees, to the fullest extent that it may do so
under applicable law, that in the event of the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Issuer,
the Guarantor shall not file (or join in any filing of), or otherwise seek to participate in the filing of, any motion or request
seeking to stay or to prohibit (even temporarily) execution on the Guarantee and hereby waives and agrees not to take the benefit
of any such stay of execution, whether under Section 362 or 105 of the Bankruptcy Law or otherwise..

 

Article
16

MISCELLANEOUS PROVISIONS

 

Section
16.01.     Provisions Binding on the Issuer's and Guarantors’ Successors. All the
covenants, stipulations, promises and agreements by the Issuer or Guarantors contained in this Indenture shall bind their respective
successors and assigns whether so expressed or not.

 

Section
16.02.     Official Acts by Successor Entity. Any act or proceeding by any provision of
this Indenture authorized or required to be done or performed by any board, committee or officer of the Issuer or any Guarantor
shall and may be done and performed with like force and effect by the like board, committee or officer of any Person that shall
at the time be the lawful sole successor of the Issuer or such Guarantor.

 

Section
16.03.     Addresses for Notices, etc. Any notice or demand which by any provision of this
Indenture is required or permitted to be given or served by the Trustee or by the Holders of Notes on the Issuer or Guarantors
shall be in writing and shall be deemed to have been sufficiently given or made, for all purposes, if given or served by being
deposited postage prepaid by registered or certified mail in a post office letter box, or sent by overnight courier, or sent by
telecopier transmission addressed as follows:

 

To the Issuer:

Lexington Realty Trust

One Penn Plaza, Suite 4015

New York, New York 10019-4015

Facsimile No.: (212) 594-6600

Attention: Chief Financial Officer

 

    	-62-

    	 

    

 

With a copy to:

Lexington Realty Trust

One Penn Plaza, Suite 4015

New York, New York 10019-4015

Facsimile No.: (212) 594-6600

Attention: General Counsel

 

And a copy to:

Paul Hastings LLP

75 East 55th Street

New York, New York 10022

Facsimile No.: (212) 319-4090

Attention: Scott R. Saks, Esq.

 

To the Guarantors:

Lexington Realty Trust

One Penn Plaza, Suite 4015

New York, New York 10019-4015

Facsimile No.: (212) 594-6600

Attention: Chief Financial Officer

 

With a copy to:

Lexington Realty Trust

One Penn Plaza, Suite 4015

New York, New York 10019-4015

Facsimile No.: (212) 594-6600

Attention: General Counsel

 

And a copy to:

Paul Hastings LLP

75 East 55th Street

New York, New York 10022

Facsimile No.: (212) 319-4090

Attention: Scott R. Saks, Esq.

 

Any notice, direction,
request or demand hereunder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if
given or served by being deposited, postage prepaid, by registered or certified mail in a post office letter box, or sent by overnight
courier, or sent by telecopier transmission addressed as follows:

 

    	-63-

    	 

    

 

U.S. Bank National Association

100 Wall Street, 16th Floor

New York, NY 10005

Phone (212) 951-8501

Fax (212) 514-6841

Attention: William G. Keenan

   Vice President

   Lexington Realty Trust

   4.25% Senior Notes due 2023

 

The Trustee, by notice
to the Issuer, may designate additional or different addresses for subsequent notices or communications.

 

Any notice or communication
mailed to a Noteholder shall be mailed by first class mail, postage prepaid, at such Noteholder's address as it appears on the
Note Register and shall be sufficiently given to such Noteholder if so mailed within the time prescribed.

 

Failure to mail a notice
or communication to a Noteholder or any defect in it shall not affect its sufficiency with respect to other Noteholders. If a notice
or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it.

 

Section
16.04.     Governing Law. This Indenture shall be governed by, and construed in accordance
with, the laws of the State of New York without regard to conflict of law principles that would result in the application of any
laws other than the laws of the State of New York. 

 

Section
16.05.     Evidence of Compliance with Conditions Precedent, Certificates to Trustee. Upon
any application or demand by the Issuer or Guarantors to the Trustee to take any action under any of the provisions of this Indenture,
the Issuer or Guarantors shall furnish to the Trustee an Officers' Certificate stating that all conditions precedent, if any, provided
for in this Indenture relating to the proposed action have been complied with, and, if requested by the Trustee, an Opinion of
Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

 

Each certificate or
opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant provided
for in this Indenture shall include: (1) a statement that the person making such certificate or opinion has read such covenant
or condition; (2) a brief statement as to the nature and scope of the examination or investigation upon which the statement
or opinion contained in such certificate or opinion is based; (3) a statement that, in the opinion of such person, such person
has made such examination or investigation as is necessary to enable such person to express an informed opinion as to whether or
not such covenant or condition has been complied with; and (4) a statement as to whether or not, in the opinion of such person,
such condition or covenant has been complied with; provided, however, that with respect to matters of fact an Opinion of
Counsel may rely on an Officers' Certificate or certificates of public officials.

 

Section
16.06.     Legal Holidays. In any case in which the Stated Maturity of interest on or principal
of the Notes or the Redemption Date of any Note will not be a Business Day, then payment of such interest on or principal of the
Notes need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made
on the Stated Maturity or the Redemption Date, and no interest shall accrue for the period from and after such date.

 

Section
16.07.     Trust Indenture Act. This Indenture is hereby made subject to, and shall
be governed by, the provisions of the Trust Indenture Act required to be part of and to govern indentures qualified under the
Trust Indenture Act; provided, that this Section 16.07 shall not require this Indenture or the Trustee to be qualified
under the Trust Indenture Act prior to the time such qualification is in fact required under the terms of the Trust Indenture
Act, nor shall it constitute any admission or acknowledgment by any party to the Indenture that any such qualification is required
prior to the time such qualification is in fact required under the terms of the Trust Indenture Act. If any provision hereof limits,
qualifies or conflicts with another provision hereof which is required to be included in an indenture qualified under the Trust
Indenture Act, such required provision shall control. 

 

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Section
16.08.     No Security Interest Created. Nothing in this Indenture or in the Notes, expressed
or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now
or hereafter enacted and in effect, in any jurisdiction in which property of the Issuer, the Guarantors or their subsidiaries is
located.

 

Section
16.09.     Benefits of Indenture. Nothing in this Indenture or in the Notes or Guarantees,
express or implied, shall give to any Person, other than the parties hereto, any Paying Agent, any authenticating agent, any Note
Registrar and their successors hereunder and the Holders of Notes any benefit or any legal or equitable right, remedy or claim
under this Indenture.

 

Section
16.10.     Table of Contents, Headings, etc. The table of contents and the titles and headings
of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a
part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

 

Section
16.11.     Authenticating Agent. The Trustee may appoint an authenticating agent that shall
be authorized to act on its behalf, and subject to its direction, in the authentication and delivery of Notes in connection with
the original issuance thereof and transfers and exchanges of Notes hereunder, including under Sections 2.04, 2.06, 2.07, 2.08 and
3.03 hereof, as fully to all intents and purposes as though the authenticating agent had been expressly authorized by this Indenture
and those Sections to authenticate and deliver Notes. For all purposes of this Indenture, the authentication and delivery of Notes
by the authenticating agent shall be deemed to be authentication and delivery of such Notes "by the Trustee" and a certificate
of authentication executed on behalf of the Trustee by an authenticating agent shall be deemed to satisfy any requirement hereunder
or in the Notes for the Trustee's certificate of authentication. Such authenticating agent shall at all times be a Person eligible
to serve as trustee hereunder pursuant to Section 7.09 hereof.

 

Any corporation into
which any authenticating agent may be merged or exchanged or with which it may be consolidated, or any corporation resulting from
any merger, consolidation or exchange to which any authenticating agent shall be a party, or any corporation succeeding to the
corporate trust business of any authenticating agent, shall be the successor of the authenticating agent hereunder, if such successor
corporation is otherwise eligible under this Section 16.11, without the execution or filing of any paper or any further act on
the part of the parties hereto or the authenticating agent or such successor corporation.

 

Any authenticating
agent may at any time resign by giving written notice of resignation to the Trustee and to the Issuer. The Trustee may at any time
terminate the agency of any authenticating agent by giving written notice of termination to such authenticating agent and to the
Issuer. Upon receiving such a notice of resignation or upon such a termination, or in case at any time any authenticating agent
shall cease to be eligible under this Section 16.11, the Trustee shall either promptly appoint a successor authenticating agent
or itself assume the duties and obligations of the former authenticating agent under this Indenture and, upon such appointment
of a successor authenticating agent, if made, shall give written notice of such appointment of a successor authenticating agent
to the Issuer and shall mail notice of such appointment of a successor authenticating agent to all Holders of Notes as the names
and addresses of such Holders appear on the Note Register.

 

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the Issuer agrees to
pay to the authenticating agent from time to time such reasonable compensation for its services as shall be agreed upon in writing
between the Issuer and the authenticating agent.

 

The provisions of Sections
7.02, 7.03, 7.04 and 8.03 hereof and this Section 16.11 shall be applicable to any authenticating agent.

 

Section
16.12.     Execution in Counterparts. This Indenture may be executed in any number of counterparts,
each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. Delivery of
an executed counterpart of a signature page of this Indenture by facsimile or other electronic imaging means shall be effective
as delivery of a manually executed counterpart of this Indenture.

 

Section
16.13.     Severability. In case any provision in this Indenture or in the Notes shall be
invalid, illegal or unenforceable, then (to the extent permitted by law) the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

  

Section
16.14.     Force Majeure. In no event shall the Trustee be responsible or liable for any
failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond
its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer
(software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted
practices in the banking industry to resume performance as soon as practicable under the circumstances.

 

U.S. Bank National
Association hereby accepts the trusts in this Indenture declared and provided, upon the terms and conditions herein above set forth.

 

    	-66-

    	 

    

 

IN WITNESS Whereof,
the parties hereto have caused this Indenture to be duly executed.

 

	 	ISSUER:
	 	 
	 	LEXINGTON REALTY TRUST, a Maryland real estate investment trust, as Issuer of the Notes
	 	 	 
	 	By:	/s/ Joseph S. Bonventre
	 		Name:  Joseph S. Bonventre
	 	 	Title:  Executive Vice President    
	 	 	 
	 	SUBSIDIARY GUARANTORS:
	 	 	 
	 	LEPERCQ CORPORATE INCOME FUND L.P.,
	 	a Delaware limited partnership, as a Subsidiary Guarantor
	 	 	 
	 	By:	Lex GP-1 Trust, its general partner, a Delaware statutory trust
	 	 	 
	 	 	By:	/s/ Joseph S. Bonventre
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President
	 	 	 	 
	 	LEPERCQ CORPORATE INCOME FUND II L.P.,
	 	a Delaware limited partnership, as a Subsidiary Guarantor
	 	 
	 	By:	Lex GP-1 Trust, its general partner, a Delaware statutory trust
	 	 	 
	 	 	By:	/s/ Joseph S. Bonventre
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President
	 	 	 	 
	 	Lex GP-1 Trust, a Delaware statutory trust,
	 	as a Subsidiary Guarantor
	 	 	 	 
	 	 	By:	/s/ Joseph S. Bonventre
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President
	 	 	 	 
	 	Lex LP-1 Trust, a Delaware statutory trust,
	 	as a Subsidiary Guarantor
	 	 	 
	 	By:	/s/ Joseph S. Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

  

    	 

    	 

    

  

	 	Lexington Realty Advisors, Inc., a Delaware corporation, as a Subsidiary Guarantor
	 	 
	 	By:	/s/ Joseph S. Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President
	 	 
	 	lsac operating partnership l.p., a Delaware limited partnership, as a Subsidiary Guarantor
	 	 	 	 
	 	By: 	LSAC General Partner LLC, a Delaware limited liability company, its general partner
	 	 	 	 
	 	 	By:	LRA Manager Corp., a Delaware corporation, its manager
	 	 	 	 
	 	 	 	By:	/s/ Joseph S. Bonventre
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President
	 	 	 	 
	 	MLP Unit pledge l.p., a Delaware limited partnership, as a Subsidiary Guarantor
	 	 	 	 
	 	By: 	MLP Unit Pledge GP LLC, a Delaware limited liability company, its general partner
	 	 	 	 
	 	 	By:	LRA Manager Corp., a Delaware corporation, its manager
	 	 	 	 
	 	 	 	By:	/s/ Joseph S. Bonventre
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President

 

    	 

    	 

    

 

	 	PHOENIX HOTEL ASSOCIATES LIMITED PARTNERSHIP, a Delaware limited partnership, as a Subsidiary Guarantor
	 	 	 	 
	 	By: 	Lepercq Corporate Income Fund II L.P., a Delaware limited partnership, its general partner
	 	 	 
	 	 	By:	Lex GP-1 Trust, its general partner, a Delaware statutory trust
	 	 	 	 	 
	 	 	 	By:	/s/ Joseph S. Bonventre
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President
	 	 	 	 
	 	LEXINGTON/LION VENTURE L.P., a Delaware limited partnership, as a Subsidiary Guarantor
	 	 	 
	 	By:	LXP GP, LLC, a Delaware limited liability company, its general partner
	 	 	 	 
	 	 	By:	LRA Manager Corp., a Delaware corporation, its manager
	 	 	 	 	 
	 	 	 	By:	/s/ Joseph S. Bonventre
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President
	 	 	 	 
	 	LRA MANAGER CORP. a Delaware corporation, as a Subsidiary Guarantor
	 	 	 
	 	By:	/s/ Joseph S. Bonventre
	 	 	Name: Joseph S. Bonventre
	 	 	Title: Vice President
	 	 	 	 
	 	Lexington Tennessee Holdings L.P., a Delaware limited partnership, as a Subsidiary Guarantor
	 	 	 	 
	 	By:	Lex GP-1 Trust, its general partner, a Delaware statutory trust
	 	 	 	 
	 	 	By:	/s/ Joseph S. Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

                     

    	 

    	 

    

  

	 	Lex Chillicothe GP LLC 
	 	Lexington Lakewood Manager LLC 
	 	Lexington Millington Manager LLC 
	 	Lexington Columbus GP LLC 
	 	Lex Shreveport GP LLC 
	 	Lex St. Joseph GP LLC 
	 	Lexington Acquiport Company, LLC 
	 	Acquiport Winchester Manager LLC 
	 	Acquiport 600 Manager LLC 
	 	Acquiport 550 Manager LLC 
	 	Lexington Waxahachie Manager LLC 
	 	Lexington Acquiport Sierra LLC 
	 	Lexington Southfield LLC 
	 	Lexington TNI Westlake Manager LLC 
	 	Lexington Bristol GP LLC 
	 	Lexington Dulles Manager LLC 
	 	Lexington Tampa GP LLC 
	 	Lexington Bulverde Manager LLC 
	 	Lexington Shelby GP LLC 
	 	Lexington Olive Branch Manager LLC 
	 	Lexington Florence Manager LLC 
	 	Lexington Toy Trustee LLC 
	 	Lexington Wallingford Manager LLC 
	 	Lexington High Point Manager LLC 
	 	Lex-Property Holdings LLC 
	 	Lex GP Holding LLC 
	 	Lex Westerville GP LLC 
	 	Lexington Duncan Manager LLC 
	 	Lexington Mlp Westerville Manager LLC 
	 	LXP GP, LLC 
	 	NK-ODW/Columbus Property Manager LLC 
	 	NK-Lumberton Property Manager LLC 
	 	NK-Cinn Hamilton Property Manager LLC 
	 	Newkirk Gersant GP LLC
	 	Lex Phoenix GP LLC 
	 	 
	 	Each, a Delaware limited liability company, as Subsidiary Guarantors
	 	 	 
	 	By:	LRA Manager Corp., their Manager
	 	 	 
	 	By:	/s/ Joseph S. Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	 

    	 

    

 

 

	 	Newkirk Jacway GP LLC
	 	Newkirk Liroc GP LLC 
	 	Newkirk Avrem GP LLC 
	 	Newkirk Walando GP LLC 
	 	Lexington Allen Manager LLC 
	 	Lex Rock Hill GP LLC 
	 	Lexington Lion Cary GP LLC 
	 	Lexington Lion Plymouth GP LLC 
	 	Lexington Collierville Manager LLC 
	 	Lexington Louisville Manager LLC 
	 	Lexington Lake Forest Manager LLC 
	 	Lexington Centennial Manager LLC 
	 	Newkirk MLP Unit LLC 
	 	MLP Unit Pledge GP LLC 
	 	LSAC General Partner LLC 
	 	LSAC Crossville Manager LLC 
	 	Lex Jessup GP LLC 
	 	Newkirk Clifmar GP LLC 
	 	Newkirk Salistown GP LLC 
	 	Newkirk Dalhill GP LLC 
	 	Newkirk Carolion GP LLC 
	 	Newkirk Superwest GP LLC 
	 	Newkirk Elway GP LLC 
	 	Newkirk Johab GP LLC 
	 	Newkirk Washtex GP LLC 
	 	Newkirk Basot GP LLC 
	 	Newkirk Lanmar GP LLC 
	 	Newkirk JLE Way GP LLC 
	 	Newkirk Altenn GP LLC 
	 	Lexington Durham LLC 
	 	 
	 	Each, a Delaware limited liability company, as Subsidiary Guarantors
	 	 	 
	 	By:	LRA Manager Corp., their Manager
	 	 	 
	 	By:	/s/ Joseph S. Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	 

    	 

    

 

	 	Lex Missouri City GP LLC 
	 	Lex Opelika GP LLC 
	 	Lex Valdosta GP LLC 
	 	Lexington American Way LLC 
	 	Lexington Antioch Manager LLC 
	 	Lexington Hampton LLC 
	 	LSAC Oklahoma City Manager LLC 
	 	LSAC Woodlands Manager LLC 
	 	LMLP GP LLC 
	 	Newkirk Croydon GP LLC 
	 	Newkirk Denport GP LLC 
	 	Newkirk Skoob GP LLC 
	 	Newkirk Spokmont GP LLC 
	 	NLSAF Mcdonough Manager LLC 
	 	Triple Net Investment Company LLC 
	 	Xel Florence GP LLC 
	 	Acquiport Temperance LLC 
	 	Acquiport Milford LLC 
	 	Lexington Marshall LLC 
	 	Lexington Palm Beach LLC 
	 	Lexington OC LLC
	 	Net 1 Phoenix L.L.C. 
	 	Lexington Canton LLC 
	 	Net 2 Hampton LLC 
	 	Net 1 Henderson LLC 
	 	Savannah Waterfront Hotel LLC
	 	Lexington Fort Mill Manager LLC 
	 	Acquiport Laurens LLC 
	 	LSAC Eau Claire Manager LLC 
	 	NLSAF Marshall GP LLC 
	 	Lexington Minneapolis LLC 
	 	Net 2 Cox LLC 
	 	Lexington Livonia L.L.C. 
	 	 
	 	Each, a Delaware limited liability company, as Subsidiary Guarantors
	 	 	 
	 	By: 	LRA Manager Corp., their Manager
	 	 	 
	 	By:	/s/ Joseph S. Bonventre
	 	Name:  Joseph S. Bonventre
	 	Title:  Vice President 

 

    	 

    	 

    

 

	 	Lexington Glendale Manager LLC
	 	Lexington TNI Des Moines Manager LLC
	 	Lexington Foxboro I LLC
	 	Newkirk Elport GP LLC
	 	Newkirk Syrcar GP LLC
	 	NLSAF Jacksonville GP LLC
	 	Newkirk Bluff GP LLC
	 	Lex-Eastgar GP LLC
	 	LSAC Pascagoula Manager LLC
	 	NLSAF Tampa GP LLC
	 	Lex Eugene GP LLC
	 	 
	 	Each, a Delaware limited liability
    company, as Subsidiary Guarantors
	 	 
	 	By: LRA Manager Corp., their Manager
	 	 
	 	By:	/s/ Joseph
    S. Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President
	 	 
	 	Lex Chillicothe L.P.
	 	By: Lex Chillicothe GP LLC, its general partner
	 	 
	 	Lexington Lakewood L.P.
	 	By: Lexington Lakewood Manager LLC, its general
    partner
	 	 
	 	Lexington Millington L.P.
	 	By:  Lexington Millington Manager LLC,
    its general partner
	 	 
	 	Lexington Columbus L.P.
	 	By:  Lexington Columbus GP LLC, its general
    partner
	 	 
	 	Each, a Delaware limited partnership,
    as Subsidiary Guarantors
	 	 
	 	By: LRA Manager Corp., Manager of the
    general partners
	 	 
	 	By:	/s/ Joseph S. Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	 

    	 

    

	 	 
	 	Lex Shreveport L.P.
	 	By: Lex Shreveport GP LLC, its general partner
	 	 
	 	Lex St. Joseph L.P.
	 	By: Lex St. Joseph GP LLC, its general partner
	 	Lexington Waxahachie L.P.
	 	By:  Lexington Waxahachie Manager LLC,
    its general partner
	 	 
	 	Lexington Acquiport Colinas L.P.
	 	By: Lexington Acquiport Sierra LLC, its general partner
	 	 
	 	Federal Southfield Limited Partnership
	 	By: Lexington Southfield LLC, its general partner
	 	 
	 	Lexington TNI Westlake L.P.
	 	By: Lexington TNI Westlake Manager LLC, its general
    partner
	 	 
	 	Lexington Bristol L.P.
	 	By: Lexington Bristol GP LLC, its general partner
	 	 
	 	Lexington Tampa L.P.
	 	By: Lexington Tampa GP LLC, its general partner
	 	 
	 	Lexington Bulverde L.P.
	 	By: Lexington Bulverde Manager LLC, its general partner
	 	 
	 	Lexington Shelby L.P.
	 	By: Lexington Shelby GP LLC, its general partner
	 	 
	 	Each, a Delaware limited partnership,
    as Subsidiary Guarantors
	 	 
	 	By: LRA Manager Corp., Manager of the
    general partners
	 	 
	 	By:	/s/ Joseph
    S. Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	 

    	 

    

 

	 	Lexington Toy Lynwood L.P.
	 	Lexington Toy Clackamas L.P.
	 	Lexington Toy Tulsa L.P.
	 	Each By: Lexington Toys Trustee LLC, its general partner
	 	 
	 	Lex Westerville L.P.
	 	By: Lex Westerville GP LLC, its general partner
	 	 
	 	Lexington Duncan L.P.
	 	By: Lexington Duncan Manager LLC, its general partner
	 	 
	 	Lexington MLP Westerville L.P.
	 	By:  Lexington MLP Westerville Manager LLC,
    its general partner
	 	 
	 	Newkirk Gersant L.P.
	 	By: Newkirk Gersant GP LLC, its general partner
	 	 
	 	Newkirk Jacway L.P.
	 	By: Newkirk Jacway GP LLC, its general partner
	 	 
	 	Newkirk Liroc L.P.
	 	By: Newkirk Liroc GP LLC, its general partner
	 	 
	 	Newkirk Avrem L.P.
	 	By: Newkirk Avrem GP LLC, its general partner
	 	 
	 	Newkirk Walando L.P.
	 	By: Newkirk Walando GP LLC, its general partner
	 	 
	 	Lex Phoenix L.P.
	 	 
	 	By:  Lex Phoenix GP LLC, its
    general partner
	 	 
	 	Each, a Delaware limited partnership,
    as Subsidiary Guarantors
	 	 
	 	By: LRA Manager Corp., Manager of the
    general partners
	 	 
	 	By:	/s/ Joseph S.
    Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	 

    	 

    

 

	 	Lexington Allen L.P.   
	 	By: Lexington Allen Manager LLC, its general partner
      
	 	 
	 	Lex Rock Hill L.P.   
	 	By: Lex Rock Hill GP LLC, its general partner   
	 	 
	 	Lexington Lion Cary L.P.   
	 	By: Lexington Lion Cary GP LLC, its general partner
      
	 	 
	 	Lexington Lion Plymouth L.P.   
	 	By: Lexington Lion Plymouth GP LLC, its general partner
      
	 	 
	 	Lexington Collierville L.P.   
	 	By:  Lexington Collierville Manager LLC,
    its general partner   
	 	Lexington Louisville L.P.   
	 	By:  Lexington Louisville Manager LLC, its
    general partner   
	 	 
	 	Lexington Lake Forest L.P.   
	 	By: Lexington Lake Forest Manager LLC, its general
    partner   
	 	LSAC Crossville L.P.   
	 	By: LSAC Crossville Manager LLC, its general partner
      
	 	 
	 	Lex Jessup L.P.   
	 	By: Lex Jessup GP LLC, its general partner   
	 	 
	 	Each, a Delaware limited partnership,
    as Subsidiary Guarantors  
	 	 
	 	By: LRA Manager Corp., Manager of the
    general partners  
	 	 
	 	By:	/s/ Joseph S.
    Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	 

    	 

    

 

	 	Newkirk Clifmar L.P.   
	 	By: Newkirk Clifmar GP LLC, its general partner   
	 	 
	 	Newkirk Salistown L.P.   
	 	By: Newkirk Salistown GP LLC, its general partner   
	 	 
	 	Newkirk Dalhill L.P.   
	 	By: Newkirk Dalhill GP LLC, its general partner   
	 	 
	 	Newkirk Carolion L.P.   
	 	By: Newkirk Carolion GP LLC, its general partner   
	 	 
	 	Newkirk Superwest L.P.   
	 	By: Newkirk Superwest GP LLC, its general partner   
	 	 
	 	Newkirk Elway L.P.   
	 	By: Newkirk Elway GP LLC, its general partner  
	 	
	 	Newkirk Johab L.P.   
	 	By: Newkirk Johab GP LLC, its general partner   
	 	 
	 	Newkirk Washtex L.P.   
	 	By: Newkirk Washtex GP LLC, its general partner   
	 	 
	 	Newkirk Basot L.P.   
	 	By: Newkirk Basot GP LLC, its general partner   
	 	 
	 	Newkirk Lanmar L.P.   
	 	By: Newkirk Lanmar GP LLC, its general partner   
	 	 
	 	Newkirk JLE Way L.P.   
	 	By: Newkirk JLE Way GP LLC, its general partner   
	 	 
	 	Each, a Delaware limited partnership,
    as Subsidiary Guarantors  
	 	 
	 	By: LRA Manager Corp., Manager of the
    general partners  
	 	 
	 	By:	/s/ Joseph S.
    Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	 

    	 

    

 

	 	Newkirk Altenn L.P.   
	 	By: Newkirk Altenn GP LLC, its general partner   
	 	 
	 	LSAC Eau Claire L.P.   
	 	By: LSAC Eau Claire Manager LLC, its general partner
      
	 	 
	 	NLSAF Marshall L.P.   
	 	By: NLSAF Marshall GP LLC, its general partner   
	 	 
	 	Lexington TNI Des Moines L.P.   
	 	By: Lexington TNI Des Moines Manager LLC, its general
    partner   
	 	 
	 	Newkirk Elport L.P.   
	 	By: Newkirk Elport GP LLC, its general partner   
	 	 
	 	Newkirk Syrcar L.P.   
	 	By: Newkirk Syrcar GP LLC, its general partner   
	 	 
	 	NLSAF Jacksonville L.P.   
	 	By: NLSAF Jacksonville GP LLC, its general partner
      
	 	 
	 	Newkirk Bluff L.P.   
	 	By: Newkirk Bluff GP LLC, its general partner   
	 	 
	 	Lex-Eastgar L.P.   
	 	By: Lex-Eastgar GP LLC, its general partner   
	 	 
	 	LSAC Pascagoula L.P.   
	 	By: LSAC Pascagoula Manager LLC, its general partner
      
	 	 
	 	NLSAF Tampa L.P.   
	 	By: NLSAF Tampa GP LLC, its general partner   
	 	 
	 	Each, a Delaware limited partnership,
    as Subsidiary Guarantors  
	 	 
	 	By: LRA Manager Corp., Manager of the
    general partners  
	 	 
	 	By:	/s/ Joseph S.
    Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	 

    	 

    

 

	 	Lexington Durham Limited Partnership   
	 	By: Lexington Durham LLC, its sole general partner
      
	 	 
	 	Lex Eugene L.P.   
	 	By: Lex Eugene GP LLC, its general partner   
	 	 
	 	Lex Missouri City L.P.   
	 	By: Lex Missouri City GP LLC, its general partner   
	 	 
	 	Lex Opelika L.P.   
	 	By: Lex Opelika GP LLC, its general partner   
	 	 
	 	Lex Valdosta L.P.   
	 	By: Lex Valdosta GP LLC, its general partner   
	 	 
	 	LSAC Oklahoma City L.P.   
	 	By: LSAC Oklahoma City Manager LLC, its general partner
      
	 	 
	 	LSAC Woodlands L.P.   
	 	By: LSAC Woodlands Manager LLC, its general partner
      
	 	 
	 	Newkirk Croydon L.P.   
	 	By: Newkirk Croydon GP LLC, its general partner   
	 	 
	 	Newkirk Denport L.P.   
	 	By: Newkirk Denport GP LLC, its general partner   
	 	 
	 	Newkirk Skoob L.P.   
	 	By: Newkirk Skoob GP LLC, its general partner   
	 	 
	 	Each, a Delaware limited partnership,
    as Subsidiary Guarantors  
	 	 
	 	By: LRA Manager Corp., Manager of the
    general partners  
	 	 
	 	By:	/s/ Joseph S.
    Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	 

    	 

    

 

	 	Newkirk Spokmont L.P.   
	 	By: Newkirk Spokmont GP LLC, its general partner   
	 	 
	 	NLSAF Mcdonough L.P.   
	 	By: NLSAF McDonough Manager LLC, its general partner
      
	 	 
	 	Xel Florence L.P.   
	 	By: Xel Florence GP LLC, its general partner   
	 	 
	 	Net Lease Strategic Assets Fund L.P.   
	 	By: LMLP GP LLC, its general partner  
	 	 
	 	Each, a Delaware limited partnership,
    as Subsidiary Guarantors  
	 	 
	 	By: LRA Manager Corp., Manager of the
    general partners  
	 	 
	 	By:	/s/ Joseph S.
    Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President
	 	 
	 	Acquiport Winchester LLC   
	 	By: Acquiport Winchester Manager LLC, its sole member
      
	 	 
	 	Acquiport Lake Mary 600 LLC   
	 	By: Acquiport 600 Manager LLC, its sole member   
	 	 
	 	Acquiport Lake Mary 550 LLC   
	 	By: Acquiport 550 Manager LLC, its sole member   
	 	 
	 	Each, a Delaware limited liability company,
    as Subsidiary Guarantors  
	 	 
	 	By: LRA Manager Corp., Manager of the
    general partners  
	 	 
	 	By:	/s/ Joseph S. Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	 

    	 

    

 

	 	Lexington Dulles LLC   
	 	By: Lexington Dulles Manager LLC, its sole member   
	 	 
	 	Lexington Olive Branch LLC   
	 	By:  Lexington Olive Branch Manager LLC,
    its sole member   
	 	 
	 	Lexington Florence LLC   
	 	By:  Lexington Florence Manager LLC, its
    sole member   
	 	 
	 	Lexington Wallingford LLC   
	 	By:  Lexington Wallingford Manager LLC, its
    sole member   
	 	 
	 	Lexington High Point LLC   
	 	By: Lexington High Point Manager LLC, its sole member
      
	 	 
	 	Lexington Fort Mill LLC   
	 	By:  Lexington Fort Mill Manager LLC, its
    sole member   
	 	 
	 	NK-ODW/Columbus Property LLC   
	 	By:  NK-ODW/Columbus Property Manager LLC,
    its sole member   
	 	 
	 	NK-Lumberton Property LLC   
	 	By:  NK-Lumberton Property Manager LLC, its
    sole member   
	 	 
	 	NK-Cinn Hamilton Property LLC   
	 	By: NK-CINN Hamilton Property Manager LLC, its sole
    member  
	 	 
	 	Each, a Delaware limited liability company,
    as Subsidiary Guarantors  
	 	 
	 	By: LRA Manager Corp., Manager of the
    general partners  
	 	 
	 	By:	/s/ Joseph S.
    Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

  

    	 

    	 

    

 

	 	Lexington Centennial LLC   
	 	By: Lexington Centennial Manager LLC, its general partner
      
	 	 
	 	Lexington Glendale LLC   
	 	By: Lexington Glendale Manager LLC, its sole member
      
	 	 
	 	Lexington Antioch LLC   
	 	By: Lexington Antioch Manager LLC, its sole member
     
	 	 
	 	Each, a Delaware limited liability company,
    as Subsidiary Guarantors  
	 	 
	 	By: LRA Manager Corp., Manager of the
    general partners  
	 	 
	 	By:	/s/ Joseph S.
    Bonventre
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President
	 	 
	 	Acquiport Brea Manager LLC  
	 	Lexington TNI Irving Manager LLC  
	 	Lexington Gears Manager LLC  
	 	Lexington Tempe Manager LLC  
	 	Lexington Memphis (JVF) Manager LLC  
	 	Lexington Las Vegas (VEGPOW) Manager LLC  
	 	Lexington Columbus (Jackson Street) Manager LLC  
	 	Lex Houston GP LLC  
	 	Lexington Knoxville Manager LLC  
	 	Lexington Foxboro II LLC  
	 	 
	 	Each, a Delaware limited liability company, as Subsidiary
    Guarantor  
	 	 
	 	By:  LRA Manager Corp., a Delaware corporation,
    their manager  
	 	 
	 		By:	/s/ Joseph S.
    Bonventre
	 	 		Name:  Joseph S. Bonventre
	 	 		Title:  Vice President

 

    	 

    	 

    

 

 

	 	Acquiport Brea L.P.
	 	By:	Acquiport Brea Manager LLC, its general partner
	 	 	 
	 	Lexington TNI Irving L.P.
	 	By:	Lexington TNI Irving Manager LLC, its general partner
	 	 	 
	 	Lexington Gears L.P.
	 	By:	Lexington Gears Manager LLC, its general partner
	 	 	 
	 	Lexington Tempe L.P.
	 	By:	Lexington Tempe Manager LLC, its general partner
	 	 	 
	 	Lex Houston L.P.
	 	By:	Lex Houston GP LLC, its general partner
	 	 	 
	 	Lexington Columbus (Jackson Street) L.P.
	 	By:	Lexington Columbus (Jackson Street)  Manager LLC, its general partner
	 	 	 
	 	Lexington Las Vegas (VEGPOW) L.P.
	 	By:	Lexington Las Vegas (VEGPOW) Manager LLC, its general partner
	 	 	 
	 	Lexington Memphis (JVF) L.P.
	 	By:	Lexington Memphis (JVF) Manager LLC, its general partner
	 	 	 
	 	Each, a Delaware limited partnership, as Subsidiary Guarantor
	 	 	 
	 	By:	LRA Manager Corp., a Delaware corporation, manager of the general partners

 

	 	 	By:	/s/ Joseph S. Bonventre
	 	 	 	Joseph S. Bonventre
	 	 	 	Vice President

 

    	 

    	 

    

 

	 	Lexington Knoxville LLC, a Delaware limited liability company, as a Subsidiary Guarantor
	 	By:	Lexington Knoxville Manager LLC, its member
	 	 	 	 
	 	 	By:	LRA Manager Corp., a Delaware corporation, manager of the member
	 	 	 	 
	 	 	By:	/s/ Joseph S. Bonventre
	 	 	 	Joseph S. Bonventre
	 	 	 	Vice President
	 	 	 	 
	 	Lexington Acquiport Fishers LLC
	 	Lexington Arlington Manager LLC
	 	Lexington Redmond Manager LLC
	 	Lexington Moody LLC,
	 	Lexington Fort Mill II Manager LLC,
	 	 
	 	Each, a Delaware limited liability company, as a Subsidiary Guarantor
	 	 	 
	 	By:   	LRA Manager Corp., a Delaware corporation, their manager
	 	 	 	 
	 	 	By:	/s/ Joseph S. Bonventre
	 	 	 	Joseph S. Bonventre
	 	 	 	Vice President

 

    	 

    	 

    

 

	 	LEXINGTON ARLINGTON L.P.,
	 	By:  	Lexington Arlington Manager LLC, its general partner
	 	 	 	 
	 	LEXINGTON MOODY L.P.
	 	By:  	Lexington Moody LLC, its general partner
	 	 	 	 
	 	LEXINGTON FORT MILL II LLC,
	 	By:  	Lexington Fort Mill II Manager LLC, a Delaware limited liability company, its member
	 	 	 	 
	 	LEXINGTON REDMOND LLC,
	 	By:  	Lexington Redmond LLC, its member
	 	 	 	 
	 	Each, a Delaware limited partnership, as a Subsidiary Guarantor
	 	 	 	 
	 	By:  	LRA Manager Corp., a Delaware corporation, manager of the general partners
	 	 	 	 
	 	 	By:	/s/ Joseph S. Bonventre
	 	 	 	Joseph S. Bonventre
	 	 	 	Vice President

 

    	 

    	 

    

 

	 	TRUSTEE:
	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,
	 	as Trustee
	 	 	 
	 	By:	/s/ William G. Keenan
	 	Name: 	William G. Keenan
	 	Title: 	Vice President

 

    	 

    	 

    

 

EXHIBIT A

 

[Include only for Global
Notes]

 

THIS GLOBAL NOTE IS
HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS
HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.02 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT
IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION
PURSUANT TO SECTION 2.09 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR
WRITTEN CONSENT OF THE ISSUER.

 

UNLESS AND UNTIL IT
IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY
TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”),
TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
HAS AN INTEREST HEREIN.

 

[Include only for Notes
that are Restricted Securities]

 

THIS SECURITY HAS NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY
STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED,
PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR
NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF
OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE
DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR IN THE CASE OF RULE 144A NOTES, AND 40 DAYS IN THE
CASE OF REGULATION S NOTES AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE
OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE ISSUER OR ANY OF ITS SUBSIDIARIES,
(B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES
ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED
INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT
OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT
TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR (E) PURSUANT
TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE
TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION
OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF
THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

 

    	Exh. A-1

    	 

    

  

LEXINGTON REALTY TRUST

4.25% SENIOR NOTES DUE 2023

 

No. [·]

 

		CUSIP No.:	[      ]

 

		ISIN:	[      ]

 

$[        ]

 

Lexington Realty Trust,
a Maryland real estate investment trust (herein called the “the Issuer,” which term includes any successor entity
under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to Cede & Co., or its
registered assigns, the principal sum of [   ] ($[    ]), or such lesser amount as is set forth in the Schedule of Increases or Decreases
In Note on the other side of this Note, on June 15, 2023 at the office or agency of the Issuer maintained for that purpose in accordance
with the terms of the Indenture, in such coin or currency of the United States of America as at the time of payment shall be legal
tender for the payment of public and private debts, and to pay interest, semi-annually on June 15 and December 15 of each year,
commencing December 15, 2013, on said principal sum at said office or agency, in like coin or currency, at the rate per annum of
4.25%, from the June 15 or December 15, as the case may be, next preceding the date to which interest has been paid or duly provided
for, unless no interest has been paid or duly provided for on the Notes, in which case from [     ] until payment of said principal
sum has been made or duly provided for. The Issuer shall pay interest on any Notes in certificated form by check mailed to the
address of the Person entitled thereto as it appears in the Note Register, or on any Global Note by wire transfer of immediately
available funds to the account of the Depositary or its nominee. The Issuer shall pay interest to Holders of record on the June
1 or December 1 preceding the applicable June 15 or December 15 interest payment date, respectively, in accordance with the terms
of the Indenture.

 

The Issuer promises
to pay interest on overdue principal, premium, if any, and (to the extent that payment of such interest is enforceable under applicable
law) interest at the rate of 1% per annum above the rate borne by the Notes.

 

Reference is made to
the further provisions of this Note set forth on the reverse hereof and the Indenture governing this Note. Such further provisions
shall for all purposes have the same effect as though fully set forth at this place.

 

This Note shall not be
valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed manually or by
facsimile or other electronic imaging means by the Trustee or a duly authorized authenticating agent under the Indenture.

 

    	Exh. A-2

    	 

    

 

IN WITNESS WHEREOF,
the Issuer has caused this Note to be duly executed.

 

Dated: [    ]

 

	 	LEXINGTON REALTY TRUST
	 	 	 
	 	By: 	 
	 	 	Name:	Joseph S. Bonventre 
	 	 	Title:	Executive Vice President 

 

    	Exh. A-3

    	 

    

 

TRUSTEE'S CERTIFICATE OF AUTHENTICATION

 

This is one of the
Notes described in the within-named Indenture.

 

Dated: [     ]

 

	 	U.S. BANK NATIONAL ASSOCIATION, 
	 	as Trustee
	 	 	 
	 	By:	 
	 	 	Authorized Signatory 

 

    	Exh. A-4

    	 

    

  

[FORM OF REVERSE SIDE OF NOTE]

 

Lexington Realty Trust

4.25% SENIOR NOTES DUE 2023

 

This Note is one of
a duly authorized issue of Notes of the Issuer, designated as its 4.25% Senior Notes due 2023 (herein called the “Notes”),
issued under and pursuant to an Indenture, dated as of June 10, 2013 (herein called the “Indenture”), among
the Issuer, the Guarantors and U.S. Bank National Association, as trustee (herein called the “Trustee”), to
which Indenture and any indentures supplemental thereto reference is hereby made for a description of the rights, limitations of
rights, obligations, duties and immunities thereunder of the Trustee, the Issuer, the Guarantors and the Holders of the Notes.
Defined terms used but not otherwise defined in this Note shall have the respective meanings ascribed thereto in the Indenture.

 

If an Event of Default
(other than an Event of Default specified in Section 6.01(f), 6.01(g) or 6.01(h) with respect to the Issuer) occurs and
is continuing, the principal of, premium, if any, and accrued and unpaid interest on all Notes may be declared to be due and payable
by either the Trustee or the Holders of at least twenty five percent (25%) in aggregate principal amount of the Notes then outstanding,
and, upon said declaration the same shall be immediately due and payable. If an Event of Default specified in Section 6.01(f),
6.01(g) or 6.01(h) of the Indenture occurs with respect to the Issuer, the principal of and premium, if any, and interest
accrued and unpaid on all the Notes shall be immediately and automatically due and payable without necessity of further action.

 

The Indenture contains
provisions permitting the Issuer and the Trustee, with the consent of the Holders of not less than a majority in aggregate principal
amount of the Notes at the time outstanding, to execute supplemental indentures adding any provisions to or changing in any manner
or eliminating any of the provisions of the Indenture or of any supplemental indenture or modifying in any manner the rights of
the Holders of the Notes, subject to exceptions set forth in Section 9.02 of the Indenture. Subject to the provisions of the Indenture,
the Holders of not less than a majority in aggregate principal amount of the Notes at the time outstanding may, on behalf of the
Holders of all of the Notes, waive any past Default or Event of Default, subject to exceptions set forth in the Indenture.

 

No reference herein
to the Indenture and no provision of this Note or of the Indenture shall impair, as among the Issuer and the Holder of the Notes,
the obligation of the Issuer, which is absolute and unconditional, to pay the principal of, premium, if any, on and interest on
this Note at the place, at the respective times, at the rate and in the coin or currency herein and in the Indenture prescribed.

 

Interest on the Notes
shall be computed on the basis of a 360-day year of twelve 30-day months.

 

The Notes are issuable
in fully registered form, without coupons, in denominations of $2,000 principal amount and any multiple of $1,000. At the office
or agency of the Issuer referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture,
without payment of any service charge but with payment of a sum sufficient to cover any tax, assessment or other governmental charge
that may be imposed in connection with any registration or exchange of Notes, Notes may be exchanged for a like aggregate principal
amount of Notes of any other authorized denominations.

 

The Issuer shall have
the right to redeem the Notes under certain circumstances as set forth in Section 3.01, Section 3.02 and Section 3.03 of the Indenture.

 

The Notes are not subject
to redemption through the operation of any sinking fund.

 

    	Exh. A-5

    	 

    

 

 

Except as expressly
provided in Article 15 of the Indenture, no recourse for the payment of the principal of or any premium or interest on this Note,
or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant or agreement
of the Issuer in the Indenture or any supplemental indenture or in any Note, or because of the creation of any indebtedness represented
thereby, shall be had against any incorporator, stockholder, partner, member, manager, employee, agent, officer, trustee, director
or subsidiary, as such, past, present or future, of the Guarantors, the Issuer or any of the Issuer’s Subsidiaries or of
any successor thereto, either directly or through the Guarantors, the Issuer or any of the Issuer’s subsidiaries or of any
successor thereto, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty
or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of,
and as consideration for, the execution of the Indenture and the issue of this Note.

 

In addition to
the rights provided to Holders of Notes under the Indenture, Holders shall have all the rights set forth in the Registration Rights
Agreement.

 

    	Exh. A-6

    	 

    

 

ASSIGNMENT FORM

 

To assign this Note,
fill in the form below:

 

	(I) or (we) assign and transfer this Note to:	 
	 	(Insert assignee’s legal name)

 

	 
	(Insert assignee’s soc. sec. or tax I D. no.)
	 
	 
	 
	 
	(Print or type assignee’s name, address and zip code)

 

and irrevocably appointto __________________
transfer this Note on the books of the Issuer. The agent may substitute another to act for him.

 

Date: _____________

 

	Your Signature:	 
	 	(Sign exactly as your name appears
	 	on the face of this Note)

 

Signature Guarantee*:___________________________

 

 

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

 

    	Exh. A-7

    	 

    

 

SCHEDULE OF EXCHANGES OF INTERESTS IN
THE GLOBAL NOTE *

 

The following exchanges
of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another
Global Note or Definitive Note for an interest in this Global Note, have been made:

 

	
        Date
        of Exchange
	 	
        Amount
        of

        decrease in

        Principal 

Amount

        at maturity of

        this Global Note
	 	
        Amount
        of

        increase in

        Principal 

Amount

        at maturity of

        this Global Note
	 	
        Principal
        

Amount

        at maturity of

        this Global Note

        following such

        decrease (or

        increase)
	 	
        Signature
        of

        authorized 

signatory

        of Trustee or

        Custodian

 

___________

*This schedule should be included only if the Note is issued in global form.

 

    	Exh. A-8

    	 

    

 

EXHIBIT B

 

FORM OF CERTIFICATE OF TRANSFER

 

Lexington Realty Trust

One Penn Plaza, Suite 4015

New York, New York 10019-4015

Facsimile No.: (212) 594-6600

	Attention:	Mr. Joseph S. Bonventre, Esq., General Counsel

 

U.S. Bank National Association

100 Wall Street, 16th Floor

New York, NY 10005

Phone (212) 951-8501

Fax (212) 514-6841

	Attention:  	William G. Keenan
	 	Vice President
	 	Lexington Realty Trust
	 	4.25% Senior Notes due 2023

 

Re: 4.25% Senior Notes
due 2023

 

Reference is hereby
made to the Indenture, dated as of June 10, 2013 (the "Indenture"), among Lexington Realty Trust, a Maryland real
estate investment trust, as the Issuer (the "the Issuer"), the Guarantors party thereto and U.S. Bank National
Association, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.

 

, (the "Transferor")
owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $
             in such Note[s] or interests (the "Transfer"),
to                    (the
"Transferee"), as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby
certifies that:

 

[CHECK ALL THAT APPLY]

 

1.           ̈
Check if Transferee will take delivery of a beneficial interest in the 144A Global Note or a Restricted Definitive Note pursuant
to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933,
as amended (the "Securities Act"), and, accordingly, the Transferor hereby further certifies that the beneficial
interest or Definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial
interest or Definitive Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment
discretion, and such Person and each such account is a "qualified institutional buyer" within the meaning of Rule 144A
in a transaction meeting the requirements of Rule 144A, and such Transfer is in compliance with any applicable blue sky securities
laws of any state of the United States and other jurisdictions. Upon consummation of the proposed Transfer in accordance with the
terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted Definitive Note and in the Indenture
and the Securities Act.

 

    	Exh. B-1

    	 

    

 

2.           ̈
Check if Transferee will take delivery of a beneficial interest in the Regulation S Global Note or a Restricted Definitive Note
pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the
Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a Person
in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such
Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States
or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither
such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States,
(ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of
Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements
of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the Restricted Period, the
transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser) and
the interest transferred will be held immediately thereafter through Euroclear or Clearstream. Upon consummation of the proposed
transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject
to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Restricted
Definitive Note and in the Indenture and the Securities Act.

 

3.           ̈
Check and complete if Transferee will take delivery of a Restricted Definitive Note pursuant to any provision of the Securities
Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable
to beneficial interests in Restricted Global Notes and Restricted Definitive Notes and pursuant to and in accordance with the Securities
Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further
certifies that (check one):

 

(a)           ̈
such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act;

 

or

 

(b)           ̈
such Transfer is being effected to the Issuer or a Subsidiary thereof;

 

or

 

(c)           ̈
such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with
the prospectus delivery requirements of the Securities Act;

 

or

 

(d)           ̈
such Transfer is being effected to pursuant to an exemption from the registration requirements of the Securities Act other than
Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further certifies that it has not engaged in any general solicitation
within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable
to beneficial interests in a Restricted Global Note or Restricted Definitive Notes and the requirements of the exemption claimed,
which certification is supported by an Opinion of Counsel provided by the Transferor or the Transferee (a copy of which the Transferor
has attached to this certification), to the effect that such Transfer is in compliance with the Securities Act. Upon consummation
of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note
will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive
Notes and in the Indenture and the Securities Act.

 

    	Exh. B-2

    	 

    

 

4.           ̈
Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global Note or of an Unrestricted Definitive
Note.

 

(a)           ̈
Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and in accordance with Rule
144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue
sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and
the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the
proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no
longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes
or Restricted Definitive Notes and in the Indenture.

 

(b)           ̈
Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with
Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation
of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note
will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted
Global Notes or Restricted Definitive Notes and in the Indenture.

 

(c)           ̈
Check if Transfer is Pursuant to Other Exemption or Registration. (i) The Transfer is being effected pursuant to and
in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 903 or Rule
904 and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of
any State of the United States or pursuant to an effective registration statement under the Securities Act and in compliance with
the prospectus delivery requirements of the Securities Act and (ii) the restrictions on transfer contained in the Indenture
and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of
the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will
not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes
or Restricted Definitive Notes and in the Indenture.

 

    	Exh. B-3

    	 

    

 

This certificate and
the statements contained herein are made for your benefit and the benefit of the Issuer.

 

	 	 
	 	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	Dated:  	 	 

 

    	Exh. B-4

    	 

    

 

ANNEX A TO CERTIFICATE OF TRANSFER

 

1.          The
Transferor owns and proposes to transfer the following:

 

[CHECK ONE OF (a) OR (b)]

 

(a)           ̈
a beneficial interest in the:

 

(i)           ̈
144A Global Note (CUSIP             ), or

 

(ii)          ̈
Regulation S Global Note (CUSIP                     ),
or

 

(b)           ̈
a Restricted Definitive Note.

 

2.          After
the Transfer the Transferee will hold:

 

[CHECK ONE]

 

(a)           ̈
a beneficial interest in the:

 

(i)           ̈
144A Global Note (CUSIP             ), or

 

(ii)          ̈
Regulation S Global Note (CUSIP             ), or

 

(iii)         ̈
Unrestricted Global Note (CUSIP             ); or

 

(b)           ̈
a Restricted Definitive Note; or

 

(c)           ̈
an Unrestricted Definitive Note,

 

in accordance with the terms
of the Indenture.

 

    	Exh. B-5

    	 

    

 

EXHIBIT C

 

FORM OF CERTIFICATE OF EXCHANGE

 

Lexington Realty Trust

One Penn Plaza, Suite 4015

New York, New York 10019-4015

Facsimile No.: (212) 594-6600

	Attention:	Mr. Joseph S. Bonventre, Esq., General Counsel

 

U.S. Bank National Association

100 Wall Street, 16th Floor

New York, NY 10005

Phone (212) 951-8501

Fax (212) 514-6841

	Attention:	William G. Keenan
	 	Vice President
	 	Lexington Realty Trust
	 	4.25% Senior Notes due 2023

 

Re: 4.25% Senior Notes
due 2023

 

Reference is hereby
made to the Indenture, dated as of June 10, 2013 (the "Indenture"), among Lexington Realty Trust, a Maryland real
estate investment trust, as the Issuer (the "the Issuer"), the Guarantors party thereto and U.S. Bank National
Association, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.

 

(the "Owner")
owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $in such
Note[s] or interests (the "Exchange"). In connection with the Exchange, the Owner hereby certifies that:

 

1.          Exchange
of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Definitive Notes or Beneficial
Interests in an Unrestricted Global Note.

 

(a)           ̈
Check if Exchange is from beneficial interest in a Restricted Global Note to beneficial interest in an Unrestricted Global Note.
In connection with the Exchange of the Owner's beneficial interest in a Restricted Global Note for a beneficial interest in an
Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired
for the Owner's own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to the Global Notes and pursuant to and in accordance with the Securities Act of 1933, as amended (the "Securities
Act"), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required
in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is
being acquired in compliance with any applicable blue sky securities laws of any state of the United States and other jurisdictions.

 

(b)           ̈
Check if Exchange is from beneficial interest in a Restricted Global Note to Unrestricted Definitive Note. In connection
with the Exchange of the Owner's beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner
hereby certifies (i) the Definitive Note is being acquired for the Owner's own account without transfer, (ii) such Exchange
has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement
Legend are not required in order to maintain compliance with the Securities Act and (iv) the Definitive Note is being acquired
in compliance with any applicable blue sky securities laws of any state of the United States.

 

    	Exh. C-1

    	 

    

 

(c)           ̈
Check if Exchange is from Restricted Definitive Note to beneficial interest in an Unrestricted Global Note. In connection
with the Owner's Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby
certifies (i) he beneficial interest is being acquired for the Owner's own account without transfer, (ii) such Exchange
has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement
Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being
acquired in compliance with any applicable blue sky securities laws of any state of the United States.

 

(d)           ̈
Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note. In connection with the Owner's Exchange
of a Restricted Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive
Note is being acquired for the Owner's own account without transfer, (ii) such Exchange has been effected in compliance with
the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act,
(iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with
any applicable blue sky securities laws of any state of the United States.

 

2.          Exchange
of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or Beneficial
Interests in Restricted Global Notes.

 

(a)           ̈
Check if Exchange is from beneficial interest in a Restricted Global Note to Restricted Definitive Note. In connection with
the Exchange of the Owner's beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal
amount, the Owner hereby certifies that the Restricted Definitive Note is being acquired for the Owner's own account without transfer.
Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued
will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted
Definitive Note and in the Indenture and the Securities Act.

 

(b)           ̈
Check if Exchange is from Restricted Definitive Note to beneficial interest in a Restricted Global Note. In connection with
the Exchange of the Owner's Restricted Definitive Note for a beneficial interest in the [CHECK ONE] 144A Global Note, Regulation
S Global Note, with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for
the Owner's own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in compliance with any
applicable blue sky securities laws of any state of the United States and other jurisdictions. Upon consummation of the proposed
Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities
Act.

 

    	Exh. C-2

    	 

    

 

This certificate and
the statements contained herein are made for your benefit and the benefit of the Issuer.

 

	 	 
	 	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	Dated:	 	 

 

    	Exh. C-3

    	 

    

 

EXHIBIT D 

 

FORM OF GUARANTEE

 

The Guarantors listed
below (hereinafter referred to as the "Guarantors," which term includes any successors or assigns under the Indenture,
dated June 10, 2013, among the Guarantors, the Issuer (as defined below) and U.S. Bank National Association, as trustee (the "Indenture")),
has irrevocably and unconditionally, jointly and severally, guaranteed on a senior unsecured basis the Guarantee Obligations (as
defined in Section 15.01 of the Indenture), which include (i) the due and punctual payment of the principal of, premium, if
any, and interest and Additional Interest, if any, on the 4.25% Senior Notes due 2023 (the "Notes") of Lexington
Realty Trust, a Maryland real estate investment trust (the "the Issuer"), whether at maturity, by acceleration,
call for redemption or otherwise, the due and punctual payment of interest on the overdue principal and premium, if any, and (to
the extent permitted by law) interest on any interest on the Notes, and the due and punctual performance of all other obligations
of the Issuer, to the Holders of the Notes or the Trustee all in accordance with the terms set forth in Article 15 of the Indenture,
and (ii) in case of any extension of time of payment or renewal of any Notes or any such other obligations, that the same
shall be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at maturity,
by acceleration, call for redemption or otherwise.

 

The obligations of
the Guarantors to the Holders of the Notes and to the Trustee pursuant to this Guarantee and the Indenture are expressly set forth
in Article 15 of the Indenture and reference is hereby made to such Indenture for the precise terms of this Guarantee.

 

No past, present or
future director, trustee, officer, employee, incorporator, partner, member or stockholder (direct or indirect) of the Guarantors
(or any such successor entity), as such, shall have any liability for any obligations of the Guarantors under this Guarantee or
the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation.

 

The Guarantors hereby
waive diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Issuer,
any right to require a proceeding first against the Issuer, the benefit of discussion, protest or notice with respect to the Notes
and all demands whatsoever.

  

This is a continuing
Guarantee and shall remain in full force and effect and shall be binding upon the Guarantors and their successors and assigns until
full and final payment of all of the Issuer's obligations under the Notes and Indenture or until legally discharged in accordance
with the Indenture and shall inure to the benefit of the successors and assigns of the Trustee and the Holders of the Notes, and,
in the event of any transfer or assignment of rights by any Holder of the Notes or the Trustee, the rights and privileges herein
conferred upon that party shall automatically extend to and be vested in such transferee or assignee, all subject to the terms
and conditions hereof. This is a Guarantee of payment and performance and not of collectability.

 

This Guarantee shall
not be valid or obligatory for any purpose until the certificate of authentication on the Note upon which this Guarantee is noted
shall have been signed, in the name and on behalf of the Trustee under the Indenture, manually or by facsimile or other electronic
imaging means by one of the authorized officers of the Trustee under the Indenture or as otherwise permitted under the Indenture.

 

The obligations of
the Guarantors under this Guarantee shall be limited to the extent necessary to insure that it does not constitute a fraudulent
conveyance under applicable law.

 

    	Exh. D-1

    	 

    

 

THE TERMS OF ARTICLE
15 OF THE INDENTURE ARE INCORPORATED HEREIN BY REFERENCE.

 

Capitalized terms used
herein have the same meanings given in the Indenture unless otherwise indicated.

 

    	Exh. D-2

    	 

    

 

   

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

 

	 	ISSUER:
	 	 
	 	LEXINGTON REALTY TRUST, a Maryland real estate investment
    trust, as Issuer of the Notes
	 	 	 
	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Executive Vice President
	 	 	 
	 	SUBSIDIARY GUARANTORS:
	 	 
	 	LEPERCQ CORPORATE INCOME FUND L.P.,

a Delaware limited partnership, as a Subsidiary Guarantor
	 	 	 
	 	By:	Lex GP-1 Trust, its general partner, a Delaware statutory
    trust
	 	 	 
	 	 	By:	 
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President
	 	 
	 	LEPERCQ CORPORATE INCOME FUND II L.P.,

a Delaware limited partnership, as a Subsidiary Guarantor
	 	 
	 	By:	Lex GP-1 Trust, its general partner, a Delaware statutory
    trust
	 	 	 
	 	 	By:	 
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President
	 	 	 
	 	Lex GP-1 Trust, a
    Delaware statutory trust, as a Subsidiary Guarantor
	 	 	 
	 	 	By:	 
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President

 

    	Exh. D-3

    	 

    

 

	 	Lex LP-1 Trust,
    a Delaware statutory trust, as a Subsidiary Guarantor
	 	 	 
	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President
	 	 	 
	 	Lexington Realty Advisors,
    Inc., a Delaware corporation, as a Subsidiary Guarantor
	 	 	 
	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President
	 	 	 
	 	lsac operating partnership
    l.p., a Delaware limited partnership, as a Subsidiary Guarantor
	 	 	 
	 	By:	LSAC General Partner LLC, a Delaware limited liability
    company, its general partner
	 	 	 	 
	 	 	By:	LRA Manager Corp., a Delaware corporation, its manager
	 	 	 	 
	 	 	 	By:	 
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President
	 	 	 	 
	 	MLP Unit pledge l.p.,
    a Delaware limited partnership, as a Subsidiary Guarantor
	 	 	 
	 	By:	MLP Unit Pledge GP LLC, a Delaware limited liability
    company, its general partner
	 	 	 
	 	 	By:	LRA Manager Corp., a Delaware corporation, its manager
	 	 	 	 
	 	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

  

    	Exh. D-4

    	 

    

 

	 	PHOENIX HOTEL ASSOCIATES LIMITED PARTNERSHIP, a Delaware
    limited partnership, as a Subsidiary Guarantor
	 	 	 
	 	By:
     	Lepercq Corporate Income Fund II L.P.,
    a Delaware limited partnership, its general partner
	 	 	 	 
	 	 	By:  	Lex GP-1 Trust, its general partner, a Delaware statutory
    trust
	 	 	 	 
	 	 	 	By:	 
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President

 

	 	LEXINGTON/LION VENTURE L.P., a Delaware limited partnership,
    as a Subsidiary Guarantor
	 	 
	 	By:  	LXP GP, LLC, a Delaware limited liability company,
    its general partner
	 	 
	 	 	By:  	LRA Manager Corp., a Delaware corporation, its manager
	 	 	 	 
	 	 	 	By:	 
	 	 	 	Name:  Joseph S. Bonventre
	 	 	 	Title:  Vice President

  

	 	LRA MANAGER CORP. a Delaware corporation, as a Subsidiary
    Guarantor
	 	 
	 	By:	 
	 	 	Name: Joseph S. Bonventre
	 	 	Title: Vice President
	 	 
	 	Lexington Tennessee Holdings L.P.,
    a Delaware limited partnership, as a Subsidiary Guarantor
	 	 
	 	By:  	Lex GP-1 Trust, its general partner, a Delaware statutory
    trust
	 	 
	 	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	Exh. D-5

    	 

    

 

	 	Lex Chillicothe GP LLC
	 	Lexington Lakewood Manager LLC
	 	Lexington Millington Manager LLC
	 	Lexington Columbus GP LLC
	 	Lex Shreveport GP LLC
	 	Lex St. Joseph GP LLC
	 	Lexington Acquiport Company, LLC
	 	Acquiport Winchester Manager LLC
	 	Acquiport 600 Manager LLC
	 	Acquiport 550 Manager LLC
	 	Lexington Waxahachie Manager LLC
	 	Lexington Acquiport Sierra LLC
	 	Lexington Southfield LLC
	 	Lexington TNI Westlake Manager LLC
	 	Lexington Bristol GP LLC
	 	Lexington Dulles Manager LLC
	 	Lexington Tampa GP LLC
	 	Lexington Bulverde Manager LLC
	 	Lexington Shelby GP LLC
	 	Lexington Olive Branch Manager LLC
	 	Lexington Florence Manager LLC
	 	Lexington Toy Trustee LLC
	 	Lexington Wallingford Manager LLC
	 	Lexington High Point Manager LLC
	 	Lex-Property Holdings LLC
	 	Lex GP Holding LLC
	 	Lex Westerville GP LLC
	 	Lexington Duncan Manager LLC
	 	Lexington Mlp Westerville Manager LLC
	 	LXP GP, LLC
	 	NK-ODW/Columbus Property Manager LLC
	 	NK-Lumberton Property Manager LLC
	 	NK-Cinn Hamilton Property Manager LLC
	 	Newkirk Gersant GP LLC
	 	Lex Phoenix GP LLC
	 	 
	 	Each, a Delaware limited liability
    company, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., their Manager
	 	 
	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	Exh. D-6

    	 

    

 

	 	Newkirk Jacway GP LLC
	 	Newkirk Liroc GP LLC
	 	Newkirk Avrem GP LLC
	 	Newkirk Walando GP LLC
	 	Lexington Allen Manager LLC
	 	Lex Rock Hill GP LLC
	 	Lexington Lion Cary GP LLC
	 	Lexington Lion Plymouth GP LLC
	 	Lexington Collierville Manager LLC
	 	Lexington Louisville Manager LLC
	 	Lexington Lake Forest Manager LLC
	 	Lexington Centennial Manager LLC
	 	Newkirk MLP Unit LLC
	 	MLP Unit Pledge GP LLC
	 	LSAC General Partner LLC
	 	LSAC Crossville Manager LLC
	 	Lex Jessup GP LLC
	 	Newkirk Clifmar GP LLC
	 	Newkirk Salistown GP LLC
	 	Newkirk Dalhill GP LLC
	 	Newkirk Carolion GP LLC
	 	Newkirk Superwest GP LLC
	 	Newkirk Elway GP LLC
	 	Newkirk Johab GP LLC
	 	Newkirk Washtex GP LLC
	 	Newkirk Basot GP LLC
	 	Newkirk Lanmar GP LLC
	 	Newkirk JLE Way GP LLC
	 	Newkirk Altenn GP LLC
	 	Lexington Durham LLC
	 	 
	 	Each, a Delaware limited liability
    company, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., their Manager
	 	 
	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	Exh. D-7

    	 

    

 

	 	Lex Missouri City GP LLC
	 	Lex Opelika GP LLC
	 	Lex Valdosta GP LLC
	 	Lexington American Way LLC
	 	Lexington Antioch Manager LLC
	 	Lexington Hampton LLC
	 	LSAC Oklahoma City Manager LLC
	 	LSAC Woodlands Manager LLC
	 	LMLP GP LLC
	 	Newkirk Croydon GP LLC
	 	Newkirk Denport GP LLC
	 	Newkirk Skoob GP LLC
	 	Newkirk Spokmont GP LLC
	 	NLSAF Mcdonough Manager LLC
	 	Triple Net Investment Company LLC
	 	Xel Florence GP LLC
	 	Acquiport Temperance LLC
	 	Acquiport Milford LLC
	 	Lexington Marshall LLC
	 	Lexington Palm Beach LLC
	 	Lexington OC LLC
	 	Net 1 Phoenix L.L.C.
	 	Lexington Canton LLC
	 	Net 2 Hampton LLC
	 	Net 1 Henderson LLC
	 	Savannah Waterfront Hotel LLC
	 	Lexington Fort Mill Manager LLC
	 	Acquiport Laurens LLC
	 	LSAC Eau Claire Manager LLC
	 	NLSAF Marshall GP LLC
	 	Lexington Minneapolis LLC
	 	Net 2 Cox LLC
	 	Lexington Livonia L.L.C.
	 	 
	 	Each, a Delaware limited liability
    company, as Subsidiary Guarantors
	 	 
	 	By:	LRA Manager Corp., their Manager
	 	 
	 	By:	 
	 	Name:  Joseph S. Bonventre
	 	Title:  Vice President
    

 

    	Exh. D-8

    	 

    

 

	 	Lexington Glendale Manager LLC
	 	Lexington TNI Des Moines Manager LLC
	 	Lexington Foxboro I LLC
	 	Newkirk Elport GP LLC
	 	Newkirk Syrcar GP LLC
	 	NLSAF Jacksonville GP LLC
	 	Newkirk Bluff GP LLC
	 	Lex-Eastgar GP LLC
	 	LSAC Pascagoula Manager LLC
	 	NLSAF Tampa GP LLC
	 	Lex Eugene GP LLC
	 	 
	 	Each, a Delaware limited liability
    company, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., their Manager
	 	 	 
	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President
	 	 	 
	 	Lex Chillicothe L.P.
	 	By:	Lex Chillicothe GP LLC, its general partner
	 	 
	 	Lexington Lakewood L.P.
	 	By:	Lexington Lakewood Manager LLC, its general partner
	 	 
	 	Lexington Millington L.P.
	 	By:  	Lexington Millington Manager LLC, its general partner
	 	 
	 	Lexington Columbus L.P.
	 	By:  	Lexington Columbus GP LLC, its general partner
	 	 
	 	Each, a Delaware limited partnership,
    as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., Manager of the general partners
	 	 
	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	Exh. D-9

    	 

    

 

 

	 	Lex Shreveport L.P. 
	 	By: 	Lex Shreveport GP LLC, its general partner
	 	 
	 	Lex St. Joseph L.P. 
	 	By: 	Lex St. Joseph GP LLC, its general partner
	 	Lexington Waxahachie L.P. 
	 	By: 	Lexington Waxahachie Manager LLC, its general partner
	 	 
	 	Lexington Acquiport Colinas L.P. 
	 	By: 	 Lexington Acquiport Sierra LLC, its general partner
	 	 
	 	Federal Southfield Limited Partnership 
	 	By:  	Lexington Southfield LLC, its general partner
	 	 
	 	Lexington TNI Westlake L.P. 
	 	By: 	Lexington TNI Westlake Manager LLC, its general partner
	 	 
	 	Lexington Bristol L.P. 
	 	By: 	Lexington Bristol GP LLC, its general partner
	 	 
	 	Lexington Tampa L.P. 
	 	By:	 Lexington Tampa GP LLC, its general partner
	 	 
	 	Lexington Bulverde L.P. 
	 	By: 	Lexington Bulverde Manager LLC, its general partner
	 	 
	 	Lexington Shelby L.P. 
	 	By: 	Lexington Shelby GP LLC, its general partner
	 	 
	 	Each, a Delaware limited partnership, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., Manager of the general partners

 

	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	Exh. D-10

    	 

    

  

	 	Lexington Toy Lynwood L.P. 
	 	Lexington Toy Clackamas L.P. 
	 	Lexington Toy Tulsa L.P. 
	 	Each By: Lexington Toys Trustee LLC, its general partner 
	 	 
	 	Lex Westerville L.P. 
	 	By: 	Lex Westerville GP LLC, its general partner
	 	 
	 	Lexington Duncan L.P. 
	 	By: 	Lexington Duncan Manager LLC, its general partner
	 	 
	 	Lexington MLP Westerville L.P. 
	 	By: 	Lexington MLP Westerville Manager LLC, its general partner
	 	 
	 	Newkirk Gersant L.P. 
	 	By: 	Newkirk Gersant GP LLC, its general partner
	 	 
	 	Newkirk Jacway L.P. 
	 	By: 	Newkirk Jacway GP LLC, its general partner
	 	 
	 	Newkirk Liroc L.P. 
	 	By: 	Newkirk Liroc GP LLC, its general partner
	 	 
	 	Newkirk Avrem L.P. 
	 	By: 	Newkirk Avrem GP LLC, its general partner
	 	 
	 	Newkirk Walando L.P. 
	 	By: 	Newkirk Walando GP LLC, its general partner
	 	 
	 	Lex Phoenix L.P.
	 	By:  	Lex Phoenix GP LLC, its general partner
	 	 
	 	Each, a Delaware limited partnership, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., Manager of the general partners

  

	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	Exh. D-11

    	 

    

 

	 	Lexington Allen L.P. 
	 	By: 	Lexington Allen Manager LLC, its general partner
	 	 
	 	Lex Rock Hill L.P. 
	 	By: 	Lex Rock Hill GP LLC, its general partner
	 	 
	 	Lexington Lion Cary L.P. 
	 	By:  	Lexington Lion Cary GP LLC, its general partner
	 	 
	 	Lexington Lion Plymouth L.P. 
	 	By: 	Lexington Lion Plymouth GP LLC, its general partner
	 	 
	 	Lexington Collierville L.P. 
	 	By:  	Lexington Collierville Manager LLC, its general partner
	 	 
	 	Lexington Louisville L.P. 
	 	By:  	Lexington Louisville Manager LLC, its general partner
	 	 
	 	Lexington Lake Forest L.P. 
	 	By: 	Lexington Lake Forest Manager LLC, its general partner
	 	 
	 	LSAC Crossville L.P. 
	 	By: 	LSAC Crossville Manager LLC, its general partner
	 	 
	 	Lex Jessup L.P. 
	 	By: 	Lex Jessup GP LLC, its general partner
	 	 
	 	Each, a Delaware limited partnership, as Subsidiary Guarantors
	 	 
	 	By: LRA Manager Corp., Manager of the general partners

  

	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	Exh. D-12

    	 

    

 

	 	Newkirk Clifmar L.P. 
	 	By: 	Newkirk Clifmar GP LLC, its general partner
	 	 
	 	Newkirk Salistown L.P. 
	 	By: 	Newkirk Salistown GP LLC, its general partner
	 	 
	 	Newkirk Dalhill L.P. 
	 	By: 	Newkirk Dalhill GP LLC, its general partner
	 	 
	 	Newkirk Carolion L.P. 
	 	By: 	Newkirk Carolion GP LLC, its general partner
	 	 
	 	Newkirk Superwest L.P. 
	 	By: 	Newkirk Superwest GP LLC, its general partner
	 	 
	 	Newkirk Elway L.P. 
	 	By: 	Newkirk Elway GP LLC, its general partner
	 	 
	 	Newkirk Johab L.P. 
	 	By: 	Newkirk Johab GP LLC, its general partner
	 	 
	 	Newkirk Washtex L.P. 
	 	By: 	Newkirk Washtex GP LLC, its general partner
	 	 
	 	Newkirk Basot L.P. 
	 	By: 	Newkirk Basot GP LLC, its general partner
	 	 
	 	Newkirk Lanmar L.P. 
	 	By: 	Newkirk Lanmar GP LLC, its general partner
	 	 
	 	Newkirk JLE Way L.P. 
	 	By: 	Newkirk JLE Way GP LLC, its general partner
	 	 
	 	Each, a Delaware limited partnership, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., Manager of the general partners

  

	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	Exh. D-13

    	 

    

  

	 	Newkirk Altenn L.P. 
	 	By: 	Newkirk Altenn GP LLC, its general partner
	 	 
	 	LSAC Eau Claire L.P. 
	 	By: 	LSAC Eau Claire Manager LLC, its general partner
	 	 
	 	NLSAF Marshall L.P. 
	 	By: 	NLSAF Marshall GP LLC, its general partner
	 	 
	 	Lexington TNI Des Moines L.P. 
	 	By: 	Lexington TNI Des Moines Manager LLC, its general partner
	 	 
	 	Newkirk Elport L.P. 
	 	By: 	Newkirk Elport GP LLC, its general partner
	 	 
	 	Newkirk Syrcar L.P. 
	 	By: 	Newkirk Syrcar GP LLC, its general partner
	 	 
	 	NLSAF Jacksonville L.P. 
	 	By: 	NLSAF Jacksonville GP LLC, its general partner
	 	 
	 	Newkirk Bluff L.P. 
	 	By: 	Newkirk Bluff GP LLC, its general partner
	 	 
	 	Lex-Eastgar L.P. 
	 	By: 	Lex-Eastgar GP LLC, its general partner
	 	 
	 	LSAC Pascagoula L.P. 
	 	By: 	LSAC Pascagoula Manager LLC, its general partner
	 	 
	 	NLSAF Tampa L.P. 
	 	By: 	NLSAF Tampa GP LLC, its general partner
	 	 
	 	Each, a Delaware limited partnership, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., Manager of the general partners

  

	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

  

    	Exh. D-14

    	 

    

 

	 	Lexington Durham Limited Partnership 
	 	By: Lexington Durham LLC, its sole general partner 
	 	 
	 	Lex Eugene L.P. 
	 	By: 	Lex Eugene GP LLC, its general partner
	 	 
	 	Lex Missouri City L.P. 
	 	By: 	Lex Missouri City GP LLC, its general partner
	 	 
	 	Lex Opelika L.P. 
	 	By: 	Lex Opelika GP LLC, its general partner
	 	 
	 	Lex Valdosta L.P. 
	 	By: 	Lex Valdosta GP LLC, its general partner
	 	 
	 	LSAC Oklahoma City L.P. 
	 	By: 	LSAC Oklahoma City Manager LLC, its general partner
	 	 
	 	LSAC Woodlands L.P. 
	 	By: 	LSAC Woodlands Manager LLC, its general partner
	 	 
	 	Newkirk Croydon L.P. 
	 	By: 	Newkirk Croydon GP LLC, its general partner
	 	 
	 	Newkirk Denport L.P. 
	 	By: 	Newkirk Denport GP LLC, its general partner
	 	 
	 	Newkirk Skoob L.P. 
	 	By: 	Newkirk Skoob GP LLC, its general partner
	 	 
	 	Each, a Delaware limited partnership, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., Manager of the general partners

  

	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	Exh. D-15

    	 

    

 

	 	Newkirk Spokmont L.P. 
	 	By: 	Newkirk Spokmont GP LLC, its general partner
	 	 
	 	NLSAF Mcdonough L.P. 
	 	By: 	NLSAF McDonough Manager LLC, its general partner
	 	 
	 	Xel Florence L.P. 
	 	By: 	Xel Florence GP LLC, its general partner
	 	 
	 	Net Lease Strategic Assets Fund L.P. 
	 	By: 	LMLP GP LLC, its general partner
	 	 
	 	Each, a Delaware limited partnership, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., Manager of the general partners

  

	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

	 	Acquiport Winchester LLC 
	 	By: 	Acquiport Winchester Manager LLC, its sole member
	 	 
	 	Acquiport Lake Mary 600 LLC 
	 	By: 	Acquiport 600 Manager LLC, its sole member
	 	 
	 	Acquiport Lake Mary 550 LLC 
	 	By: 	Acquiport 550 Manager LLC, its sole member
	 	 
	 	Each, a Delaware limited liability company, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., Manager of the general partners

  

	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

  

    	Exh. D-16

    	 

    

 

	 	Lexington Dulles LLC 
	 	By: 	Lexington Dulles Manager LLC, its sole member
	 	 
	 	Lexington Olive Branch LLC 
	 	By:  	Lexington Olive Branch Manager LLC, its sole member
	 	 
	 	Lexington Florence LLC 
	 	By:  	Lexington Florence Manager LLC, its sole member
	 	 
	 	Lexington Wallingford LLC 
	 	By:  	Lexington Wallingford Manager LLC, its sole member
	 	 
	 	Lexington High Point LLC 
	 	By: 	Lexington High Point Manager LLC, its sole member
	 	 
	 	Lexington Fort Mill LLC 
	 	By:  	Lexington Fort Mill Manager LLC, its sole member
	 	 
	 	NK-ODW/Columbus Property LLC 
	 	By:  	NK-ODW/Columbus Property Manager LLC, its sole member
	 	 
	 	NK-Lumberton Property LLC 
	 	By:  	NK-Lumberton Property Manager LLC, its sole member
	 	 
	 	NK-Cinn Hamilton Property LLC 
	 	By: 	NK-CINN Hamilton Property Manager LLC, its sole member
	 	 
	 	Each, a Delaware limited liability company, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., Manager of the general partners

  

	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

	 	Lexington Centennial LLC 
	 	By: 	Lexington Centennial Manager LLC, its general partner
	 	 
	 	Lexington Glendale LLC 
	 	By: 	Lexington Glendale Manager LLC, its sole member
	 	 
	 	Lexington Antioch LLC 
	 	By: 	Lexington Antioch Manager LLC, its sole member
	 	 
	 	Each, a Delaware limited liability company, as Subsidiary Guarantors
	 	 
	 	By: 	LRA Manager Corp., Manager of the general partners

  

	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	 	 	Title:  Vice President

 

    	Exh. D-17

    	 

    

 

	 	Acquiport Brea Manager LLC
	 	Lexington TNI Irving Manager LLC
	 	Lexington Gears Manager LLC
	 	Lexington Tempe Manager LLC
	 	Lexington Memphis (JVF) Manager LLC
	 	Lexington Las Vegas (VEGPOW) Manager LLC
	 	Lexington Columbus (Jackson Street) Manager LLC
	 	Lex Houston GP LLC
	 	Lexington Knoxville Manager LLC
	 	Lexington Foxboro II LLC
	 	 
	 	Each, a Delaware limited liability company, as Subsidiary Guarantor
	 	 
	 	By:  	LRA Manager Corp., a Delaware corporation, their manager

 

	 	By:	 
	 	 	Name:  Joseph S. Bonventre
	  
	 	Title:  Vice President

 

    	Exh. D-18

    	 

    

 

	 	Acquiport Brea L.P.
	 	By:  	Acquiport Brea Manager LLC, its general partner
	 	 
	 	Lexington TNI Irving L.P.
	 	By:  	Lexington TNI Irving Manager LLC, its general partner
	 	 
	 	Lexington Gears L.P.
	 	By:  	Lexington Gears Manager LLC, its general partner
	 	 
	 	Lexington Tempe L.P.
	 	By: 	Lexington Tempe Manager LLC, its general partner
	 	 
	 	Lex Houston L.P.
	 	By:  	Lex Houston GP LLC, its general partner
	 	 
	 	Lexington Columbus (Jackson Street) L.P.
	 	By: 	Lexington Columbus (Jackson Street)  Manager LLC, its general partner
	 	 
	 	Lexington Las Vegas (VEGPOW) L.P.
	 	By: 	Lexington Las Vegas (VEGPOW) Manager LLC, its general partner
	 	 
	 	Lexington Memphis (JVF) L.P.
	 	By: 	Lexington Memphis (JVF) Manager LLC, its general partner
	 	 
	 	Each, a Delaware limited partnership, as Subsidiary Guarantor
	 	 
	 	By:  	LRA Manager Corp., a Delaware corporation, manager of the general partners

 

	 	By:	 
	 	 	Joseph S. Bonventre
	 	 	Vice President

 

    	Exh. D-19

    	 

    

 

	 	Lexington Knoxville LLC, a Delaware limited liability company, as a Subsidiary Guarantor
	 	By:  	Lexington Knoxville Manager LLC, its member

 

	 	By:  	LRA Manager Corp., a Delaware corporation, manager of the member

 

	 	By:	 
	 	 	Joseph S. Bonventre
	 	 	Vice President

  

	 	Lexington Acquiport Fishers LLC
	 	Lexington Arlington Manager LLC
	 	Lexington Redmond Manager LLC
	 	Lexington Moody LLC,
	 	Lexington Fort Mill II Manager LLC,
	 	 
	 	Each, a Delaware limited liability company, as a Subsidiary Guarantor

 

	 	By:	LRA Manager Corp., a Delaware corporation, their manager

 

	 	By:	 
	 	 	Joseph S. Bonventre
	 	 	Vice President

 

    	Exh. D-20

    	 

    

 

	 	LEXINGTON ARLINGTON L.P.,
	 	By:  	Lexington Arlington Manager LLC, its general partner
	 	 
	 	LEXINGTON MOODY L.P.
	 	By:  	Lexington Moody LLC, its general partner
	 	 
	 	LEXINGTON FORT MILL II LLC,
	 	By:  	Lexington Fort Mill II Manager LLC, a Delaware limited liability company, its member
	 	 
	 	LEXINGTON REDMOND LLC,
	 	By:  	Lexington Redmond LLC, its member
	 	 
	 	Each, a Delaware limited partnership, as a Subsidiary Guarantor
	 	 
	 	By:  	LRA Manager Corp., a Delaware corporation, manager of the general partners

 

	 	By:	 
	 	 	Joseph S. Bonventre
	 	 	Vice President

 

    	Exh. D-21

    	 

    

 

	 	TRUSTEE:
	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,
	 	as Trustee
	 	 
	 	By:	 
	 	Name: William G. Keenan
	 	Title: Vice President

 

    	Exh. D-22

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