Document:

EX-4.4

 Exhibit 4.4 

SUBORDINATED INDENTURE 
 Dated as
of        , 20     
 Among 

ROYALTY PHARMA PLC, 
 ROYALTY
PHARMA HOLDINGS LTD. 
 and 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Trustee 
  

 TABLE OF CONTENTS 

 
  

 

							
	 	 	 	  	PAGE	 
	ARTICLE I	  			
		
	 DEFINITIONS AND OTHER
PROVISIONS OF GENERAL APPLICATION
	  	 	1	 
			
	 Section 101.
	 	Definitions	  	 	1	 
	 Section 102.
	 	Compliance Certificates and Opinions	  	 	9	 
	 Section 103.
	 	Form of Documents Delivered to Trustee	  	 	9	 
	 Section 104.
	 	Acts of Holders; Record Dates	  	 	10	 
	 Section 105.
	 	Notices, Etc., to Trustee, Company and Guarantors	  	 	11	 
	 Section 106.
	 	Notice to Holders; Waiver	  	 	12	 
	 Section 107.
	 	Reserved	  	 	12	 
	 Section 108.
	 	Effect of Headings and Table of Contents	  	 	12	 
	 Section 109.
	 	Successors and Assigns	  	 	13	 
	 Section 110.
	 	Separability Clause	  	 	13	 
	 Section 111.
	 	Benefits of Indenture	  	 	13	 
	 Section 112.
	 	Governing Law, Jurisdiction, Venue	  	 	13	 
	 Section 113.
	 	Legal Holidays	  	 	13	 
	 Section 114.
	 	No Recourse Against Others	  	 	14	 
	 Section 115.
	 	Waiver of Jury Trial	  	 	14	 
	 Section 116.
	 	Compliance with Applicable Law	  	 	14	 
	 Section 117.
	 	Submission to Jurisdiction	  	 	14	 
	 Section 118.
	 	Waiver of Immunity	  	 	15	 
		
	ARTICLE II	  			
		
	 SECURITY FORMS
	  	 	15	 
			
	 Section 201.
	 	Forms Generally	  	 	15	 
	 Section 202.
	 	Form of Legend for Global Securities	  	 	15	 
	 Section 203.
	 	Form of Trustee’s Certificate of Authentication	  	 	16	 
		
	ARTICLE III	  			
		
	 THE SECURITIES 
	  	 	16	 
			
	 Section 301.
	 	Amount Unlimited; Issuable in Series	  	 	16	 
	 Section 302.
	 	Denominations	  	 	19	 
	 Section 303.
	 	Execution, Authentication, Delivery and Dating	  	 	19	 
	 Section 304.
	 	Temporary Securities	  	 	20	 
	 Section 305.
	 	Registration, Registration of Transfer and Exchange	  	 	21	 
	 Section 306.
	 	Mutilated, Destroyed, Lost and Stolen Securities	  	 	22	 
	 Section 307.
	 	Payment of Interest; Interest Rights Preserved	  	 	23	 
	 Section 308.
	 	Persons Deemed Owners	  	 	24	 
	 Section 309.
	 	Cancellation	  	 	24	 
	 Section 310.
	 	Computation of Interest	  	 	25	 
	 Section 311.
	 	CUSIP Numbers	  	 	25	 
	 Section 312.
	 	Original Issue Discount	  	 	25	 
	 Section 313.
	 	General Provisions Relating to Global Securities	  	 	25	 

  
 i 

							
	ARTICLE IV	  			
		
	 SATISFACTION AND DISCHARGE
	  	 	26	 
			
	 Section 401.
	 	Satisfaction and Discharge of Indenture	  	 	26	 
	 Section 402.
	 	Application of Trust Money	  	 	27	 
		
	ARTICLE V	  			
		
	 REMEDIES
	  	 	27	 
			
	 Section 501.
	 	Events of Default	  	 	27	 
	 Section 502.
	 	Acceleration of Maturity; Rescission and Annulment	  	 	29	 
	 Section 503.
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	30	 
	 Section 504.
	 	Trustee May File Proofs of Claim	  	 	31	 
	 Section 505.
	 	Trustee May Enforce Claims Without Possession of Securities	  	 	31	 
	 Section 506.
	 	Application of Money Collected	  	 	31	 
	 Section 507.
	 	Limitation on Suits	  	 	32	 
	 Section 508.
	 	Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert Securities	  	 	32	 
	 Section 509.
	 	Rights and Remedies Cumulative	  	 	33	 
	 Section 510.
	 	Delay or Omission Not Waiver	  	 	33	 
	 Section 511.
	 	Control by Holders	  	 	33	 
	 Section 512.
	 	Waiver of Past Defaults	  	 	33	 
	 Section 513.
	 	Undertaking for Costs	  	 	34	 
	 Section 514.
	 	Waiver of Usury, Stay or Extension Laws	  	 	34	 
	 Section 515.
	 	Restoration of Rights and Remedies	  	 	34	 
		
	ARTICLE VI	  			
		
	 THE TRUSTEE
	  	 	34	 
			
	 Section 601.
	 	Certain Duties and Responsibilities of Trustee	  	 	34	 
	 Section 602.
	 	Notice of Defaults	  	 	35	 
	 Section 603.
	 	Certain Rights of Trustee	  	 	36	 
	 Section 604.
	 	Not Responsible for Recitals or Issuance of Securities	  	 	37	 
	 Section 605.
	 	May Hold Securities	  	 	38	 
	 Section 606.
	 	Money Held in Trust	  	 	38	 
	 Section 607.
	 	Compensation and Reimbursement	  	 	38	 
	 Section 608.
	 	Conflicting Interests	  	 	39	 
	 Section 609.
	 	Corporate Trustee Required; Eligibility	  	 	39	 
	 Section 610.
	 	Resignation and Removal; Appointment of Successor	  	 	39	 
	 Section 611.
	 	Acceptance of Appointment by Successor	  	 	41	 
	 Section 612.
	 	Merger, Conversion, Consolidation or Succession to Business	  	 	42	 
	 Section 613.
	 	Preferential Collection of Claims Against Company	  	 	42	 
	 Section 614.
	 	Trustee’s Application for Instructions from the Company	  	 	42	 
		
	ARTICLE VII	  			
		
	 HOLDERS’ LISTS AND
REPORTS BY THE TRUSTEE, THE COMPANY AND THE GUARANTORS
	  	 	42	 
			
	 Section 701.
	 	Company to Furnish Trustee Names and Addresses of Holders	  	 	42	 
	 Section 702.
	 	Preservation of Information; Communications to Holders	  	 	43	 
	 Section 703.
	 	Reports by Trustee	  	 	43	 
	 Section 704.
	 	Reports by the Company and the Guarantors	  	 	43	 

  
 ii 

							
	ARTICLE VIII	  			
		
	 CONSOLIDATION, MERGER, SALE
OF ASSETS AND OTHER TRANSACTIONS
	  	 	43	 
			
	 Section 801.
	 	Company and Guarantors May Merge or Transfer Assets on Certain Terms	  	 	43	 
	 Section 802.
	 	Successor Person Substituted	  	 	44	 
		
	ARTICLE IX	  			
		
	 SUPPLEMENTAL INDENTURES
	  	 	44	 
			
	 Section 901.
	 	Supplemental Indentures Without Consent of Holders	  	 	44	 
	 Section 902.
	 	Supplemental Indentures With Consent of Holders	  	 	45	 
	 Section 903.
	 	Execution of Supplemental Indentures	  	 	47	 
	 Section 904.
	 	Effect of Supplemental Indentures	  	 	47	 
	 Section 905.
	 	Notice of Supplemental Indenture; Reference in Securities to Supplemental Indentures	  	 	47	 
		
	ARTICLE X	  			
		
	 COVENANTS
	  	 	47	 
			
	 Section 1001.
	 	Payment of Principal, Premium, if any, and Interest	  	 	47	 
	 Section 1002.
	 	Maintenance of Office or Agency	  	 	48	 
	 Section 1003.
	 	Money for Securities Payments to Be Held in Trust	  	 	48	 
	 Section 1004.
	 	Statement by Officers as to Default	  	 	49	 
	 Section 1005.
	 	Waiver of Certain Covenants	  	 	50	 
		
	ARTICLE XI	  			
		
	 REDEMPTION OF SECURITIES
	  	 	50	 
			
	 Section 1101.
	 	Applicability of Article	  	 	50	 
	 Section 1102.
	 	Election to Redeem; Notice to Trustee	  	 	50	 
	 Section 1103.
	 	Selection by Trustee of Securities to Be Redeemed	  	 	50	 
	 Section 1104.
	 	Notice of Redemption	  	 	51	 
	 Section 1105.
	 	Deposit of Redemption Price	  	 	52	 
	 Section 1106.
	 	Securities Payable on Redemption Date	  	 	52	 
	 Section 1107.
	 	Securities Redeemed in Part	  	 	53	 
		
	ARTICLE XII	  			
		
	 SINKING FUNDS
	  	 	53	 
			
	 Section 1201.
	 	Applicability of Article	  	 	53	 
	 Section 1202.
	 	Satisfaction of Sinking Fund Payments with Securities	  	 	53	 
	 Section 1203.
	 	Redemption of Securities for Sinking Fund	  	 	53	 
		
	ARTICLE XIII	  			
		
	 DEFEASANCE AND COVENANT DEFEASANCE
	  	 	54	 
			
	 Section 1301.
	 	Company’s Option to Effect Defeasance or Covenant Defeasance	  	 	54	 
	 Section 1302.
	 	Defeasance	  	 	54	 
	 Section 1303.
	 	Covenant Defeasance	  	 	55	 
	 Section 1304.
	 	Conditions to Defeasance or Covenant Defeasance	  	 	55	 

  
 iii 

							
	 Section 1305.
	 	Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions	  	 	56	 
	 Section 1306.
	 	Reinstatement	  	 	57	 
		
	ARTICLE XIV	  			
		
	 GUARANTEE OF SECURITIES
	  	 	57	 
			
	 Section 1401.
	 	Guarantee	  	 	57	 
	 Section 1402.
	 	Additional Guarantors	  	 	58	 
	 Section 1403.
	 	Waiver	  	 	58	 
	 Section 1404.
	 	Guarantee of Payment	  	 	58	 
	 Section 1405.
	 	No Discharge or Diminishment of Guarantee	  	 	58	 
	 Section 1406.
	 	Defenses of Company Waived	  	 	59	 
	 Section 1407.
	 	Continued Effectiveness	  	 	59	 
	 Section 1408.
	 	Subrogation	  	 	59	 
	 Section 1409.
	 	Subordination	  	 	60	 
	 Section 1410.
	 	Release of Guarantor and Termination of Guarantee	  	 	60	 
	 Section 1411.
	 	Limitation of Guarantors’ Liability	  	 	60	 
	 Section 1412.
	 	No Obligation to Take Action Against the Company	  	 	61	 
	 Section 1413.
	 	Execution and Delivery	  	 	61	 
		
	ARTICLE XV	  			
		
	 SUBORDINATION OF SECURITIES
	  	 	61	 
			
	 Section 1501.
	 	Agreement to Subordinate	  	 	61	 
	 Section 1502.
	 	Payments to Holder of Securities	  	 	61	 
	 Section 1503.
	 	Subrogation of Securities	  	 	63	 
	 Section 1504.
	 	Authorization by Holder of Securities	  	 	64	 
	 Section 1505.
	 	Notice to Trustee	  	 	64	 
	 Section 1506.
	 	Trustee’s Relation to Senior Indebtedness	  	 	65	 
	 Section 1507.
	 	No Impairment of Subordination	  	 	65	 

  
 iv 

 CROSS-REFERENCE TABLE* 

 

			
	 Section of
 Trust Indenture Act

of 1939, as amended
	  	Section of
Indenture
	 310(a)
	  	609
	 310(b)
	  	608
		  	610
	 311(a)
	  	613
	 311(b)
	  	613
	 312(a)
	  	701
		  	702
	 312(b)
	  	702
	 312(c)
	  	702
	 313(a)
	  	703
	 313(b)
	  	703
	 313(c)
	  	703
		  	703
	 313(d)
	  	703
	 314(a)
	  	704
	 314(b)
	  	Inapplicable
	 314(c)
	  	Inapplicable
	 314(d)
	  	Inapplicable
	 314(e)
	  	Inapplicable
	 314(f)
	  	Inapplicable
	 315(a)
	  	601(2)
		  	603
	 315(b)
	  	501
	 315(c)
	  	601
	 315(d)
	  	601(3)
	 315(e)
	  	Inapplicable
	 316(a)
	  	511
	 316(b)
	  	507
	 316(c)
	  	Inapplicable
	 317(a)
	  	503
	 317(b)
	  	1003
	 318(a)
	  	102

  

	*	 This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the
interpretation of any of its terms or provisions. 

 SUBORDINATED INDENTURE, dated as
of            , 20    , among Royalty Pharma plc, an English public limited company incorporated under the laws of England and Wales (herein called the
“Company”), Royalty Pharma Holdings Ltd. , an English limited liability company incorporated under the laws of England and Wales (the “Initial Guarantor”) and Wilmington Trust, National Association, as Trustee
(herein called the “Trustee”). 
 RECITALS 

The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its subordinated
unsecured debt securities (herein called the “Securities”), to be issued in one or more series as provided in this Indenture. 

The Initial Guarantor has duly authorized its guarantee of the Company’s obligations under this Indenture and the Securities (a
“Guarantee”) and to provide therefor the Initial Guarantor has duly authorized the execution and delivery of this Indenture. 

All things necessary to make this Indenture a valid agreement of each of the Company and the Initial Guarantor, in accordance with its terms,
have been done. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders (as defined herein) thereof, it is mutually agreed,
for the equal and proportionate benefit of all Holders of the Securities or of any series thereof, as follows: 
 ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL
APPLICATION 
 Section 101. Definitions. 

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

(1) the terms defined in this Article I have the meanings assigned to them in this Article I and include the plural as well as the singular;

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

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

(5) “including” means including without limitation; 

(6) when used with respect to any Security, the words “convert,” “converted” and “conversion” are intended to
refer to the right of the Holder, the Company or the Guarantors to convert or exchange such Security into or for securities or other property in accordance with such terms, if any, as may hereafter be specified for such Security as contemplated by
Section 301, and these words are not 

 
intended to refer to any right of the Holder, the Company or the Guarantors to exchange such Security for other Securities of the same series and of like tenor pursuant to Section 304, 305,
306, 905 or 1107 or another similar provisions of this Indenture, unless the context otherwise requires; and references herein to the terms of any Security that may be converted mean such terms as may be specified for such Security as contemplated
in Section 301; 
 (7) unless otherwise provided, references to agreements and other instruments shall be deemed to include all
amendments and other modifications to such agreements and instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Indenture; and 

(8) unless otherwise provided in this Indenture or in any Security, the words “execute,” “execution,” “signed”
and “signature” and words of similar import used in or related to any document to be signed in connection with this Indenture, any Security or any of the transactions contemplated hereby (including amendments, waivers, consents and other
modifications) shall be deemed to include electronic signatures and the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature in ink or the use of a
paper-based recordkeeping system, as applicable, to the fullest extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act and any other similar state laws based on the Uniform Electronic Transactions Act; provided that, notwithstanding anything herein to the contrary, the Trustee is not under any obligation to agree to accept electronic signatures in any form or in
any format unless expressly agreed to by the Trustee pursuant to procedures approved by the Trustee. 
 “Act,” when used
with respect to any Holder, has the meaning specified in Section 104. 
 “Affiliate” means, with respect to any
specified Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any
specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. “Applicable Law” has the meaning specified in Section 116. 

“Additional Guarantors” means any Subsidiary of a Credit Party that becomes a guarantor or an obligor in respect of
Triggering Indebtedness, within 20 Business Days of such event and provides a Guarantee pursuant to this Indenture. 
 “Applicable
Procedures” means, with respect to a Depositary, as to any matter at any time, the policies and procedures of such Depositary, if any, that are applicable to such matter at such time. 

“Authorized Agent” has the meaning specified in Section 112. 

“Bank Credit Agreement” means the Revolving Credit Agreement (as amended, restated or otherwise modified from time to time),
dated as of September 18, 2020, by and among Royalty Pharma Holdings Ltd., as the Borrower, Royalty Pharma Plc., as Holdings, the financial institutions from time to time party thereto and Bank of America, N.A., as such Agreement may be
amended, restated, supplemented or otherwise modified from time to time, and includes any agreement extending the maturity of, or restructuring (including, but not limited to, the inclusion of additional borrowers thereunder that are Subsidiaries of
the Company and whose obligations are guaranteed by the Company thereunder) all or any portion of, the Indebtedness under such Agreement or any successor agreements and includes any agreement with one or more banks or other lending institutions
refinancing all or any portion of the Indebtedness under such Agreement or any successor agreements. 

  
 2 

 “Bankruptcy Law” has the meaning specified in Section 501. 

“Business Day” means any day, other than a Saturday or Sunday, that is not a day on which banking institutions or trust
companies in New York, New York are authorized or obligated by law, regulation or executive order to close. 
 “Capital
Lease” means, with respect to any Person, any lease of any property which, in conformity with GAAP, is required to be capitalized on the balance sheet of such Person. 

“Commission” means the U.S. Securities and Exchange Commission, 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. 

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

“Company Request” or “Company Order” means a written request or order signed by or on behalf of the Company
by any Officer, manager, member or partner thereof (or any Person designated in writing as authorized to execute and deliver Company Requests and Company Orders), and delivered to the Trustee. 

“Company Resolution” means a copy of one or more resolutions certified by the Secretary or an Assistant Secretary of the
Company to have been duly adopted by the member or members of the Company or board of directors of the Company, as the case may be, and to be in full force and effect on the date of such certification and delivered to the Trustee. 

“Corporate Trust Office” means the principal office of the Trustee at which, at any particular time, its corporate trust
business shall be conducted, which office is located as of the date of this Indenture at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, Attention: Royalty Pharma Notes Administrator, or at any other time at such other
address as the Trustee may designate from time to time by notice to the Company, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the
Company). 
 “Covenant Defeasance” has the meaning specified in Section 1303. 

“Code” shall mean the U.S. Internal Revenue Code of 1986, as amended from time to time. 

“Credit Parties” means the Company and the Guarantors. 

“Currency Agreement” means, with respect to any Person, any foreign exchange contract, currency swap agreement or other
similar agreement or arrangement designed to protect such Person or any of its Subsidiaries against fluctuations in currency values to or under which such Person or any of its Subsidiaries is a party or a beneficiary on the date hereof or becomes a
party or a beneficiary thereafter. 
 “Custodian” has the meaning specified in Section 501. 

“Default” means any event which is, or after notice or passage of time or both would be, an Event of Default. 

  
 3 

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

“Defeasance” has the meaning specified in Section 1302. 

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

“Designated Senior Indebtedness” means (i) Indebtedness under the Bank Credit Agreement and (ii) Indebtedness
constituting Senior Indebtedness which, at the time of its determination, (A) has an aggregate principal amount of at least $                 and (B) is
specifically designated in the instrument evidencing such Senior Indebtedness as “Designated Senior Indebtedness” by the Company. 

“Event of Default” has the meaning specified in Section 501. 

“Exchange Act” means the U.S. Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended from
time to time. 
 “Expiration Date” has the meaning specified in Section 104. 

“FATCA Withholding Tax” shall mean any withholding or deduction required pursuant to an agreement described in
Section 1471(b) of the Code or otherwise imposed pursuant to Sections 1471 through 1474 of the Code (or any regulations or agreements thereunder or official interpretations thereof) or any intergovernmental agreement between the United States
and another jurisdiction facilitating the implementation thereof (or any law implementing such an intergovernmental agreement). 

“GAAP” means generally accepted accounting principles in the United States (including, if applicable, International Financial
Reporting Standards) as in effect from time to time. 
 “Global Security” means a Security that evidences all or part of
the Securities of any series registered in the name of a Depositary or its nominee and that bears the legend set forth in Section 202 (or such legend as may be specified as contemplated by Section 301 for such Securities). 

“Guarantees” has the meaning specified in the second recital of this Indenture and more particularly means any Guarantee made
by each of the Guarantors as set forth in Article XIV hereof. 
 “Guarantors” means the Initial Guarantor and any
Additional Guarantors, but in each case excluding Persons who cease to be Guarantors in accordance with this Indenture. 

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

“Indebtedness” means, with respect to any Person at any date of determination (without duplication), (i) all indebtedness of
such Person for borrowed money, (ii) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person in respect of letters of credit or bankers’ acceptance or
other similar instruments (or reimbursement obligations with respect thereto), (iv) all obligations of such Person to pay the deferred purchase price of property or services, except Trade Payables, (v) all obligations of such Person as lessee
under Capital Leases, (vi) all Indebtedness of others secured by a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person; provided that, for purposes of determining the amount of any Indebtedness of the
type described in this clause, if recourse with respect to such Indebtedness is limited to such asset, the amount of such Indebtedness shall be limited to the lesser of the fair market value of 

  
 4 

 
such asset or the amount of such Indebtedness, (vii) all Indebtedness of others Guaranteed by such Person to the extent such Indebtedness is Guaranteed by such Person, (viii) all
redeemable shares valued at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends and (ix) to the extent not otherwise included in this definition, all obligations of such Person under Currency
Agreements and Interest Rate Agreements. 
 “Indenture” means this Indenture as originally executed and as it may from time
to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof. The term “Indenture” shall also include the terms of particular series of Securities established as
contemplated by Section 301. 
 “interest” means, when used with respect to an Original Issue Discount Security which
by its terms bears interest only after Maturity, interest payable after Maturity. 
 “Interest Payment Date” means, when
used with respect to any Security, the Stated Maturity of an installment of interest on such Security. 
 “Interest Rate
Agreement” means, with respect to any Person, any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement,
interest rate hedge agreement or other similar agreement or arrangement designed to protect such Person or any of its Subsidiaries against fluctuations in interest rates to or under which such Person or any of its Subsidiaries is a party or a
beneficiary on the date hereof or becomes a party or a beneficiary thereafter. 
 “Lien” means, with respect to any
property, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such property. For purposes of this Indenture, the Company shall be deemed to own subject to a Lien any property which it has acquired or holds
subject to the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to such property. 

“Maturity” means, when used with respect to any Security, the date on which the principal of such Security or an installment
of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

“Notice of Default” means a written notice of the kind specified in Section 501. 

“Obligations” has the meaning specified in Section 1401. 

“Obligor” has the meaning given to such term in the Trust Indenture Act. 

“Officer” means any Chairman, any Vice Chairman, any Chief Executive Officer, the President, the Chief Operating Officer, the
Treasurer, any Vice President, any Assistant Treasurer, the Principal Accounting Officer, the Chief Financial Officer, the Chief Accounting Officer, the General Counsel, the Secretary or any Assistant Secretary of the Company or any Guarantor (or
any sole or managing member or general partner of the Company or any Guarantor), as the case may be, or, in the case of the Company or the Guarantors’ general partners, any Person designated as an officer pursuant to the organizational
documents of the Company or the Guarantors and identified in writing to the Trustee. 
 “Officers’ Certificate” means
a certificate signed by two Officers of the Company or any Guarantor (or any sole or managing member or general partner of the Company or any Guarantor), as the case may be, and delivered to the Trustee. 

  
 5 

 “Opinion of Counsel” means a written opinion of counsel (who may be counsel
for, including an employee of, the Company or for any Guarantor) and who shall be reasonably acceptable to the Trustee. 
 “Original
Issue Discount Security” means any Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 

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

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

(4) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been
authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a protected purchaser in whose hands
such Securities are valid obligations of the Company; and 
 (5) Securities as to which any property deliverable upon conversion thereof has
been delivered (or such delivery has been made available), or as to which any other particular conditions have been satisfied, in each case as may be provided for such Securities as contemplated in Section 301; 

provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made or
taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount
of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 502, (B) if, as of such date, the principal amount payable at the Stated Maturity of a Security
is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by Section 301, (C) the principal amount of a Security denominated in one or more
foreign currencies, composite currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in the manner provided as contemplated by Section 301, of the principal amount of
such Security (or, in the case of a Security described in clause (A) or (B) above, of the amount determined as provided in such clause), and (D) Securities owned by the Company, any Guarantor or any other obligor upon the Securities or any
Affiliate of the Company, any Guarantor or such other obligor shall be disregarded and deemed not to be Outstanding (except in the case where the 100% of the applicable Securities are owned by the Company or any Guarantor or any Affiliate of the
Company or a Guarantor), except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or other action, only Securities which a Responsible Officer
actually knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the 

  
 6 

 
satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company, any Guarantor or any other obligor upon the Securities or
any Affiliate of the Company, any Guarantor or such other obligor. 
 “Paying Agent” means any Person authorized by the
Company to pay the principal of or premium, if any, or interest on any Securities on behalf of the Company or any Guarantor. 

“Permitted Jurisdictions” has the meaning specified in Section 801(a)(1). 

“Person” means an individual, a corporation, a partnership, a limited liability company, an association, a trust, or any
other entity including government or political subdivision or an agency or instrumentality thereof. 
 “Place of Payment”
means, when used with respect to the Securities of any series, the place or places where the principal of and premium, if any, and interest on the Securities of such series are payable as specified as contemplated by Section 301. 

“Predecessor Security” means, with respect to any particular Security, every previous Security evidencing all or a portion of
the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security
shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Redemption Date” means,
when used with respect to any Security to be redeemed, the date fixed for such redemption by or pursuant to this Indenture. 

“Redemption Price” means, when used with respect to any Security to be redeemed, the price at which it is to be redeemed
pursuant to this Indenture. 
 “Regular Record Date” means, for the interest payable on any Interest Payment Date on the
Securities of any series, the date specified for that purpose as contemplated by Section 301. 
 “Repayment Date”
means, with used with respect to a Security to be repaid at the option of a Holder, the date fixed for such repayment by or pursuant to this Indenture. 

“Responsible Officer” means with respect to the Trustee, any officer assigned to the corporate finance group (or any
successor division or unit) of the Trustee located at the Corporate Trust Office of the Trustee, who shall have direct responsibility for the administration of this Indenture and, for the purposes of Section 601(3)(B) and the second sentence of
Section 602, shall also include any other officer of the Trustee to whom any corporate trust matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Securities” has the meaning specified in the first recital of this Indenture and more particularly means any Securities
authenticated and delivered under this Indenture. 
 “Securities Act” means the U.S. Securities Act of 1933 and any statute
successor thereto, in each case as amended from time to time. 
 “Security Register” and “Security
Registrar” have the respective meanings specified in Section 305. 

  
 7 

 “Senior Indebtedness” means the principal of (and premium, if any) and
interest on all Indebtedness of the Company whether created, incurred or assumed before, on or after the date of this Indenture; provided that such Senior Indebtedness shall not include (i) Indebtedness of the Company that, when incurred and
without respect to any election under Section 1111(b) of Title 11, U.S. Code, was without recourse, (ii) any other Indebtedness of the Company which by the terms of the instrument creating or evidencing the same are specifically designated
as not being senior in right of payment to the Securities, and in particular the Securities shall rank pari passu with all other debt securities and guarantees issued to any trust, partnership or other entity affiliated with the Company which is a
financing vehicle of the Company in connection with an issuance of preferred securities by such financing entity and (iii) redeemable shares of the Company. 

“Significant Subsidiary” means a Subsidiary of the Company that meets the definition of “significant subsidiary” in
Article 1, Rule 1-02(w) of Regulation S-X under the Exchange Act (or any successor provision). 

“Special Record Date” means, for the payment of any Defaulted Interest, a date fixed by the Trustee pursuant to
Section 307. 
 “Stated Maturity” means, when used with respect to any Security or any installment of principal
thereof or interest thereon, the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Subsidiary” means any subsidiary of a Person that is or would be consolidated with such Person in the preparation of segment
information (or, in the absence of segment information, comparable non-GAAP information) with respect to the combined financial statements of such Person. 

“Trade Payables” means, with respect to any Person, any accounts payable or any other indebtedness or monetary obligation to
trade creditors created, assumed or Guaranteed by such Person or any of its Subsidiaries arising in the ordinary course of business in connection with the acquisition of goods or services. 

“Triggering Indebtedness” means Indebtedness of a Credit Party (or Indebtedness guaranteed by a Credit Party) owed to one or
more Persons, other than a Credit Party or any Subsidiary of a Credit Party, that has an aggregate principal amount and/or committed amount at any one time outstanding and/or committed in excess of $1.0 billion. 

“Trust Indenture Act” means the U.S. Trust Indenture Act of 1939 as in force at the date as of which this Indenture was
executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so
amended. 
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture until a
successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such
Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of such series. 

“U.S. Government Obligation” has the meaning specified in Section 1304(1). 

“Vice President” means, when used with respect to the Company or any Guarantor (or any sole or managing member or general
partner of the Company or any Guarantor) or the Trustee, any vice 

  
 8 

 
president, whether or not designated by a number or a word or words added before or after the title “vice president.” 

Section 102. Compliance Certificates and Opinions. 

Upon any application or request by the Company or any Guarantor to the Trustee to take any action under any provision of this Indenture, the
Company or such Guarantor, as the case may be, shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an
Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically
required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (except for certificates
provided for in Section 1004) shall include: 
 (1) a statement that each individual signing such certificate or opinion has read such
covenant or condition and the definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a statement that, in the
opinion of each such individual, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

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

Section 103. Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that
all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other
such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any
certificate or opinion of an Officer may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such Officer knows, or in the exercise of reasonable care should know, that the
certificate or opinion or representations with respect to the matters upon which such Officer’s certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters,
upon a certificate or opinion of, or representations by, an Officer or Officers stating that the information with respect to such factual matters is in the possession of the Company or a Guarantor, as the case may be, unless such counsel knows, or
in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 

  
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 Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

Section 104. Acts of Holders; Record Dates. 

Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given,
made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company or the Guarantors. Such instrument or instruments (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any
purpose of this Indenture and, subject to Section 601, conclusive in favor of the Trustee, the Company and the Guarantors, if made in the manner provided in this Section 104. 

The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a Person acting in a capacity other than such Person’s individual capacity, such certificate or affidavit shall also constitute sufficient proof of such Person’s authority. The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

The ownership of Securities shall be proved by the Security Register. 

Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future
Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee, any Security
Registrar, any Paying Agent, the Company, any Guarantor or any of their respective agents in reliance thereon, whether or not notation of such action is made upon such Security. 

The Company or any Guarantor may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any
series entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of Securities of such series; provided
that none of the Company or any Guarantor may set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred to in the next paragraph. If
any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders
after such record date; provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record
date. Nothing in this paragraph shall be construed to prevent the Company or any Guarantor from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously
set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the 

  
 10 

 
requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company or any
Guarantor, at its own expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set
forth in Section 106. 
 The Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding
Securities of any series entitled to join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to institute proceedings referred to in
Section 507(2) or (iv) any direction referred to in Section 511, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of such series on
such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder
unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Trustee from setting a
new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in
this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant
to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company and the Guarantors in writing and to each Holder of
Securities of the relevant series in the manner set forth in Section 106. 
 With respect to any record date set pursuant to this
Section 104, the party hereto which sets such record dates may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no such change
shall be effective unless notice of the proposed new Expiration Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 106, on or prior to the existing
Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section 104, the party hereto which set such record date shall be deemed to have initially designated the 180th day after such record
date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. 

Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so with
regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any part of such principal amount. 

Section 105. Notices, Etc., to Trustee, Company and Guarantors. 

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with, 
 (1) the Trustee by any Holder or by the Company or a Guarantor shall be
sufficient for every purpose hereunder if made, given, furnished or filed in writing (which may be by facsimile) to or with the Trustee at its Corporate Trust Office at the location specified in Section 101; or 

(2) the Company or a Guarantor by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein
expressly provided) if in writing and mailed, first-class 

  
 11 

 
postage prepaid or delivered via electronic transmission, to the Company or any Guarantor addressed to the attention of the Secretary of the Company or such Guarantor at 110 East 59th Street, New
York, NY 10022, fax number: (212) 883-2260, Attention: General Counsel or at such other address as may be specified in writing to the Trustee by the Company. 

The Trustee shall have the right, but shall not be required, to rely upon and comply with instructions and directions sent by e-mail, facsimile and other similar unsecured electronic methods by persons believed by the Trustee to be authorized to give instructions and directions on behalf of the Company or a Guarantor. The Trustee shall
have no duty or obligation to verify or confirm that the person who sent such instructions or directions is, in fact, a person authorized to give instructions or directions on behalf of the Company or such Guarantor; and the Trustee shall have no
liability for any losses, liabilities, costs or expenses incurred or sustained by the Company or such Guarantor as a result of such reliance upon or compliance with such instructions or directions. The Company and each Guarantor agrees to assume all
risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk of interception and misuse by third
parties. 
 Section 106. Notice to Holders; Waiver. 

Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly
provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at such Holder’s address as it appears in the Security Register, not later than the latest date, if any, and not earlier than the earliest
date, if any, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of
such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the
equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 

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

Where this Indenture provides for notice of any event to a Holder of a Global Security, such notice shall be sufficiently given if given to
the Depositary for such Security (or its designee), pursuant to the Applicable Procedures of the Depositary, not later than the latest date, if any, and not earlier than the earliest date, if any, prescribed for the giving of such notice. 

Section 107. Reserved. 

Section 108. Effect of Headings and Table of Contents. 

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

  
 12 

 Section 109. Successors and Assigns. 

All covenants and agreements in this Indenture by the Company and the Guarantors shall bind their respective successors and assigns, whether so
expressed or not. All agreements of the Trustee in this Indenture shall bind its successors and assigns, whether so expressed or not. 

Section 110. Separability Clause. 

In case any provision in this Indenture, any Guarantee or in the Securities shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 111. Benefits of
Indenture. 
 Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto
and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 112. Governing Law, Jurisdiction, Venue. 

This Indenture, the Securities and the Guarantees shall be governed by, and construed in accordance with, the law of the State of New York. The
Company, the Guarantors and the Trustee agree that any legal suit, action or proceeding arising out of or relating to this Indenture, and the Company and the Guarantors agree that any legal suit, action or proceeding arising out of or relating to
the Securities, may be instituted in any federal or state court in the Borough of Manhattan, The City of New York, in respect of actions brought against each such party as a defendant, and each waives any objection which it may now or hereafter have
to the laying of the venue of any such legal suit, action or proceeding, waives any immunity, to the extent permitted by law, from jurisdiction or to service of process in respect of any such suit, action or proceeding, waives any right to which it
may be entitled on account of place of residence or domicile and irrevocably submits to the jurisdiction of any such court in any such suit, action or proceeding. 

Section 113. Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity of any Security, or any date on which a Holder
has the right to convert such Holder’s Security, shall not be a Business Day, then (notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security which specifically states that such provision
shall apply in lieu of this Section 113)) payment of principal and premium, if any, or interest, or the Redemption Price or conversion of such Security, 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 Interest Payment Date, Redemption Date or Repayment Date or at the Stated Maturity, or on such conversion date. In the case, however, of Securities of a series bearing interest at a floating rate, if any
Interest Payment Date (other than the Redemption Date, Repayment Date or Stated Maturity) would otherwise be a date that is not a Business Day, then the Interest Payment Date shall be postponed to the following date which is a Business Day, unless
that Business Day falls in the next succeeding calendar month, in which case the Interest Payment Date will be the immediately preceding Business Day. No interest shall accrue for the period from and after any such Interest Payment Date, Redemption
Date, Repayment Date, Stated Maturity or conversion date, as the case may be, to the date of such payment. 

  
 13 

 Section 114. No Recourse Against Others. 

A director, partner, officer, employee, member, manager or stockholder as such of the Company or any Guarantor shall not have any liability for
any obligations of the Company under the Securities, the Guarantees or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Holder shall waive and release all such
liability. The waiver and release shall be part of the consideration for the issue of the Securities. 
 Section 115. Waiver of Jury
Trial. 
 EACH OF THE COMPANY, THE GUARANTORS, THE TRUSTEE AND THE HOLDERS, BY THEIR ACCEPTANCE OF THE SECURITIES, HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE GUARANTEES. 

Section 116. Compliance with Applicable Law. 

In order to comply with applicable tax laws, rules and regulations (inclusive of directives, guidelines and interpretations promulgated by
competent authorities) in effect from time to time (“Applicable Law”), the Trustee shall be entitled to make any withholding or deduction from payments under this Indenture to the extent necessary to comply with Applicable Law (and
shall timely pay the amounts so withheld or deducted to the applicable governmental authority) for which Wilmington Trust, National Association shall not have any liability, except in cases of gross negligence or willful misconduct. Each of the
Company, the Guarantor and the Trustee agrees to reasonably cooperate and, at the reasonable request of the others, to provide the others with such information as each may have in its possession that is necessary to enable the determination of
whether any payments hereunder are subject to FATCA Withholding Tax. 
 Section 117. Submission to Jurisdiction.  

The Company and the Guarantors hereby submit to the exclusive jurisdiction of the U.S. federal and New York state courts in the Borough of
Manhattan in The City of New York in any suit or proceeding arising out of or relating to this Indenture, the Securities, the Guarantees or the transactions contemplated hereby. The Company and the Guarantors waive any objection which it may now or
hereafter have to the laying of venue of any such suit or proceeding in such courts. Each of the Company and the Guarantors agrees that final judgment in any such suit, action or proceeding brought in such court shall be conclusive and binding upon
the Company and each Guarantor, as applicable, and may be enforced in any court to the jurisdiction of which Company or the Guarantor is subject by a suit upon such judgment. The Company and the Guarantors irrevocably appoint CSC North America, with
its principal office as of the date of this Indenture located at 251 Little Falls Drive, Wilmington, DE 19808, as its authorized agent in the Borough of Manhattan in The City of New York upon which process may be served in any such suit or
proceeding, and agrees that service of process upon such authorized agent, and written notice of such service to the Company or any such Guarantor, as the case may be, by the person serving the same to the address provided in Section 105, shall
be deemed in every respect effective service of process upon the Company and such Guarantor in any such suit or proceeding. The Company and the Guarantors hereby represent and warrant that such authorized agent has accepted such appointment and has
agreed to act as such authorized agent for service of process. The Company and the Guarantors further agree to take any and all action as may be necessary to maintain such designation and appointment of such authorized agent in full force and effect
until at least one year after all of the Securities are no longer Outstanding. 

  
 14 

 Section 118. Waiver of Immunity. 

To the extent that the Company and the Guarantors may acquire any immunity (sovereign or otherwise) from jurisdiction of any court of
(i) England and Wales, (ii) the United States or the State of New York, (iii) any jurisdiction in which it owns or leases property or assets or from any legal process (whether through service of notice, attachment prior to judgment,
attachment in aid of execution, execution, set-off or otherwise) with respect to themselves or their respective property and assets or this Indenture, the Securities or the Guarantees, each of the Company and
the Guarantors hereby irrevocably waives such immunity in respect of its obligations under this Indenture, the Securities and the Guarantees to the fullest extent permitted by applicable law. 

ARTICLE II 

SECURITY FORMS 

Section 201. Forms Generally. 

The Securities of each series shall be in substantially such form or forms as shall be established by or pursuant to a Company Resolution or,
subject to Section 303, set forth in, or determined in the manner provided in, an Officers’ Certificate of the Company pursuant to a Company Resolution, or in one or more indentures supplemental hereto, in each case with such appropriate
insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to
comply with applicable tax laws or the rules of any securities exchange or Depositary therefor or as may, consistently herewith, be determined by the Officer executing such Securities, as evidenced by their execution thereof. If the form of
Securities of any series is established by action taken pursuant to a Company Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or
prior to the delivery of the Company Order contemplated by Section 303 for the authentication and delivery of such Securities. If all of the Securities of any series established by action taken pursuant to a Company Resolution are not to be
issued at one time, it shall not be necessary to deliver a record of such action at the time of issuance of each Security of such series, but an appropriate record of such action shall be delivered at or before the time of issuance of the first
Security of such series. 
 The definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be
produced in any other manner, all as determined by the Officers of the Company executing such Securities, as evidenced by their execution of such Securities. 

Section 202. Form of Legend for Global Securities. 

Unless otherwise specified as contemplated by Section 301 for the Securities evidenced thereby, every Global Security authenticated and
delivered hereunder shall bear a legend in substantially the following form: 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE

  
 15 

 
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. TRANSFERS OF THIS GLOBAL SECURITY
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH
THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 Section 203. Form of Trustee’s
Certificate of Authentication. 
 The Trustee’s certificates of authentication shall be in substantially the following form: 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated: 
  

			
	 Wilmington Trust, National Association, as Trustee

		
	By:	 	  

		 	 Authorized Signatory

 ARTICLE III 

THE SECURITIES 

Section 301. Amount Unlimited; Issuable in Series. 

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

The Securities may be issued in one or more series and shall be subordinated to the Senior Indebtedness pursuant to the provisions of Article
XV hereof. There shall be established in or pursuant to (a) a Company Resolution or pursuant to authority granted by a Company Resolution and, subject to Section 303, set forth, or determined in the manner provided, in an Officers’
Certificate of the Company, or (b) one or more indentures supplemental hereto, prior to the issuance of Securities of any series: 
 (1)
the title of the Securities of the series (which shall distinguish the Securities of the series from Securities of any other series); 
 (2)
the limit, if any, on the aggregate principal amount of the Securities of the series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, other Securities of the series pursuant to Section 304, 305, 306, 905 or 1107 and except for any Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder); 

  
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 (3) the Person to whom any interest on a Security of the series shall be payable, if other
than the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 

(4) the date or dates on which the principal of any Securities of the series is payable or the method used to determine or extend those dates;

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

(6) the place or places where the principal of and premium, if any, and interest on any Securities of the series shall be payable and the
manner in which any payment may be made; 
 (7) the period or periods within which, the price or prices at which and the terms and conditions
upon which any Securities of the series may be redeemed, in whole or in part, at the option of the Company and, if other than by a Company Resolution, the manner in which any election by the Company to redeem the Securities shall be evidenced; 

(8) the obligation or the right, if any, of the Company to redeem or purchase any Securities of the series pursuant to any sinking fund or at
the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such
obligation; 
 (9) if other than minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof, the denominations in
which any Securities of the series shall be issuable; 
 (10) if the amount of principal of or premium, if any, or interest on any Securities
of the series may be determined with reference to a financial or economic measure or index or pursuant to a formula, the manner in which such amounts shall be determined; 

(11) if other than the currency of the United States of America, the currency, currencies or currency units in which the principal of or
premium, if any, or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United States of America for any purpose, including for purposes of the definition of
“Outstanding” in Section 101; 
 (12) if the principal of or premium, if any, or interest on any Securities of the series is
to be payable, at the election of the Company or the Holder thereof, in one or more currencies or currency units other than that or those in which such Securities are stated to be payable, the currency, currencies or currency units in which the
principal of or premium, if any, or interest on such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon which such election is to be made and the amount so payable (or the manner
in which such amount shall be determined); 
 (13) if other than the entire principal amount thereof, the portion of the principal amount of
any Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502; 

(14) if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more
dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or 

  
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hereunder, including the principal amount thereof which shall be due and payable upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior
to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined); 
 (15)
if other than by a Company Resolution, the manner in which any election by the Company to defease any Securities of the series pursuant to Section 1302 or Section 1303 shall be evidenced; whether any Securities of the series other than
Securities denominated in U.S. dollars and bearing interest at a fixed rate are to be subject to Section 1302 or Section 1303; or, in the case of Securities denominated in U.S. dollars and bearing interest at a fixed rate, if applicable,
that the Securities of the series, in whole or any specified part, shall not be defeasible pursuant to Section 1302 or Section 1303 or both such Sections; 

(16) if applicable, that any Securities of the series shall be issuable in whole or in part in the form of one or more Global Securities and,
in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 202 and any circumstances in
addition to or in lieu of those set forth in clause (2) of the penultimate paragraph of Section 305 in which any such Global Security may be exchanged in whole or in part for Securities registered, and any transfer of such Global Security
in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof and any other provisions governing exchanges or transfers of such Global Security; 

(17) any addition to, deletion from or change in the Events of Default which applies to any Securities of the series and any change in the
right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 502; 

(18) any addition to, deletion from or change in the covenants set forth in Article X which applies to Securities of the series; 

(19) if the Securities of the series are to be convertible into or exchangeable for cash and/or any securities or other property of any Person
(including the Company), the terms and conditions upon which such Securities will be so convertible or exchangeable; 
 (20) whether the
Securities of the series will be guaranteed by any Person or Persons other than the Guarantors and, if so, the identity of such Person or Persons, the terms and conditions upon which such Securities shall be guaranteed and, if applicable, the terms
and conditions upon which such guarantees may be subordinated to other indebtedness of the respective guarantors; 
 (21) whether the
Securities of the series will be secured by any collateral and, if so, the terms and conditions upon which such Securities shall be secured and, if applicable, upon which such liens may be subordinated to other liens securing other indebtedness of
the Company or any Guarantor; 
 (22) if applicable, any interest rate calculation agents, exchange rate calculation agents or other agents
with respect to the Securities of such series, if the trustee, paying agent or security registrar of that series is other than the Trustee initially named in this Indenture or any successor thereto, the trustee, paying agent or security registrar of
that series; and 
 (23) any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture, except
as permitted by Section 901(12)). 

  
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 All Securities of any one series shall be substantially identical except as to denomination
and except as may otherwise be provided in or pursuant to the Company Resolution referred to above or pursuant to authority granted by one or more Company Resolutions and, subject to Section 303, set forth, or determined in the manner provided,
in the Officers’ Certificate of the Company referred to above or in any such indenture supplemental hereto. 
 All Securities of any
one series need not be issued at one time and, unless otherwise provided in or pursuant to the Company Resolution referred to above and, subject to Section 303, set forth, or determined in the manner provided, in the Officers’ Certificate
of the Company referred to above or pursuant to authority granted by one or more Company Resolutions or in any such indenture supplemental hereto with respect to a series of Securities, additional Securities of a series may be issued, at the option
of the Company, without the consent of any Holder, at any time and from time to time. 
 If any of the terms of the series are established
by action taken pursuant to a Company Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the
Officers’ Certificate of the Company setting forth the terms of the series. 
 Section 302. Denominations. 

The Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall be specified as
contemplated by Section 301. In the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in minimum denominations of $2,000 and any integral multiple of $1,000
in excess thereof. 
 Section 303. Execution, Authentication, Delivery and Dating. 

The Securities shall be executed on behalf of the Company by one of its Officers. The signature on the Securities may be manual, facsimile or
electronic. 
 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper Officers of the Company
shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities. In
accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and, subject to Section 601, shall be fully protected in relying upon, an Opinion of Counsel stating, 

(1) that such form has been established in conformity with the provisions of this Indenture; 

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

(3) that such Securities and the related Guarantees, when the Securities are authenticated by the Trustee and issued and delivered by the
Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the 

  
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Company and each Guarantor, respectively, enforceable against the Company and each Guarantor, respectively, in accordance with their terms, subject to (i) the effects of bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, (ii) general equitable principles and (iii) an implied covenant of good faith and fair dealing.

 If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such
Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee. 

Notwithstanding the provisions of Section 301 and of the preceding paragraph of this Section 303, if all Securities of a series are
not to be originally issued at one time, except in the event that the aggregate principal amount of a series of Outstanding Securities is increased as contemplated by Section 301, it shall not be necessary to deliver the Opinion of Counsel of
the Company otherwise required pursuant to the preceding paragraph at or prior to the authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of
such series to be issued. 
 Each Security shall be dated the date of its authentication. 

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

Section 304. Temporary Securities. 

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

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

  
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 Section 305. Registration, Registration of Transfer and Exchange. 

The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office or in any
other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide
for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of maintaining the Security Register and registering Securities and transfers of Securities as herein
provided. 
 Upon surrender for registration of transfer of any Security of a series at the office or agency of the Company in a Place of
Payment for such series, the Company shall execute, and, upon Company Order, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any authorized
denominations and of like tenor and aggregate principal amount. 
 At the option of the Holder, Securities of any series may be exchanged
for other Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for
exchange, the Company shall execute, and, upon Company Order, the Trustee shall authenticate and deliver, the Securities, which the Holder making the exchange is entitled to receive. 

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

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

No service charge shall be made for any registration of transfer or exchange of Securities, but the Company or the Trustee may require payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304, 905 or 1107 not involving any
transfer. 
 If the Securities of any series (or of any series and specified tenor) are to be redeemed in whole or in part, the Company
shall not be required (A) to issue, register the transfer of or exchange any Securities of such series (or of such series and specified tenor, as the case may be) during a period beginning at the opening of business 15 days before the day of a
notice of redemption of any such Securities under Section 1103 and ending at the close of business on the day of such notice, or (B) to register the transfer of or exchange any Security so selected for redemption in whole or in part,
except the unredeemed portion of any Security being redeemed in part. 
 Notwithstanding the foregoing, neither the Trustee nor any other
agent appointed pursuant to this Indenture shall have any obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any
interest in any Security (including any transfers between or among Depositary participants or beneficial owners of interests in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are
expressly required by, and to do so if and when expressly 

  
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required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

The provisions of clauses (1), (2), (3) and (4) of this paragraph shall apply only to Global Securities: 

(1) Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary designated for such Global
Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all purposes of this Indenture. 

(2) Notwithstanding any other provision in this Indenture, and subject to such applicable provisions, if any, as may be specified as
contemplated by Section 301, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other than the Depositary for
such Global Security or a nominee thereof unless (A) such Depositary has notified the Company that it is unwilling or unable or no longer permitted under applicable law to continue as Depositary for such Global Security and a successor
Depositary is not appointed within 90 days, (B) there shall have occurred and be continuing an Event of Default with respect to such Global Security, (C) subject to the Applicable Procedures, the Company so directs the Trustee by a Company
Order or (D) there shall exist such circumstances, if any, in addition to or in lieu of the foregoing as have been specified for this purpose as contemplated by Section 301. 

(3) Subject to clause (2) above and to such applicable provisions, if any, as may be specified as contemplated by Section 301, any
exchange of a Global Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion thereof shall be registered in such names as the Depositary for such Global Security shall
direct. 
 (4) Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global
Security or any portion thereof, whether pursuant to this Section 305, Section 304, 306, 905 or 1107 or otherwise, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such Security is registered in
the name of a Person other than the Depositary for such Global Security or a nominee thereof. 
 Every Person who takes or holds any beneficial interest in
a Global Security agrees that: 
 (1) the Company and the Trustee may deal with the Depositary as sole owner of the Global Security and as
the authorized representative of such Person; 
 (2) such Person’s rights in the Global Security shall be exercised only through the
Depositary and shall be limited to those established by law and agreement between such Person and the Depositary and/or direct and indirect participants of the Depositary; and 

(3) the Depositary and its participants make book entry transfers of beneficial ownership among, and receive and transmit distributions of
principal and interest on the Global Securities to, such Persons in accordance with the Applicable Procedures of the Depositary. 

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

If any mutilated Security is surrendered to the Trustee, the Company shall execute, and, upon Company Order the Trustee shall authenticate and
deliver in exchange therefor a new Security of the 

  
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same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

If there shall be delivered to the Company and the Trustee (1) evidence to their satisfaction of the destruction, loss or theft of any
Security and (2) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a
protected purchaser, the Company shall execute and the Trustee shall, upon Company Order, authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and of like tenor and principal amount, and
bearing a number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about
to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of
any new Security under this Section 306, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of
counsel to the Company and the fees and expenses of the Trustee and its counsel) connected therewith. 
 Every new Security of any series
issued pursuant to this Section 306 in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company and the respective Guarantors, whether or not the mutilated,
destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of such series and Guarantees duly issued
hereunder. 
 The provisions of this Section 306 are exclusive and shall preclude (to the extent lawful) all other rights and remedies
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 307. Payment of Interest;
Interest Rights Preserved. 
 Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities,
interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of
business on the Regular Record Date for such interest. 
 Any interest on any Security of any series which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such
Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: 
 (1) The Company
may elect to make payment of any Defaulted Interest payable on Securities of a series to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the
date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the
Trustee for such deposit prior to the date of the proposed 

  
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payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special
Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed
payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be
given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor
having been so given, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no
longer be payable pursuant to the following clause (2). The Trustee shall have no responsibility for the calculation of the Defaulted Interest. 

(2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the
requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such
manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section 307, each Security
delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 

In the case of any Security which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date
(other than any Security whose Maturity is prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion, and such interest
(whether or not punctually paid or made available for payment) shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on such Regular Record Date. Except as otherwise
expressly provided in the immediately preceding sentence, in the case of any Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security shall not be payable. Notwithstanding the foregoing, the terms
of any Security that may be converted may provide that the provisions of this paragraph do not apply, or apply with such additions, changes or omissions as may be provided thereby, to such Security. 

Section 308. Persons Deemed Owners. 

Prior to due presentment of a Security for registration of transfer, the Company, the Guarantors, the Trustee and any agent of the Company, a
Guarantor or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and premium, if any, and, subject to Section 307, any interest on such
Security and for all other purposes whatsoever, whether or not such Security be overdue, and none of the Company, the Guarantors, the Trustee nor any agent of the Company, a Guarantor or the Trustee shall be affected by notice to the contrary. 

Section 309. Cancellation. 

All Securities surrendered for payment, redemption, registration of transfer or exchange or conversion or for credit against any sinking fund
payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company or any 

  
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Guarantor may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company or such Guarantor may have acquired in any
manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered
shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section 309, except as expressly permitted by this Indenture. All cancelled Securities
held by the Trustee shall be disposed of in accordance with its customary procedures. The Trustee shall provide the Company or any Guarantor a list of all Securities that have been cancelled from time to time as requested, in writing, by the Company
or such Guarantor. 
 Section 310. Computation of Interest. 

Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall
be computed on the basis of a 360-day year of twelve 30-day months. 

Section 311. CUSIP Numbers. 

The Company in issuing any series of the Securities may use “CUSIP” or “ISIN” numbers and/or other similar numbers, if then
generally in use, and thereafter with respect to such series, the Trustee may use such numbers in any notice of redemption with respect to such series; provided that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Securities of such series or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities of such series, and any
such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly give the Trustee written notice of any changes to the “CUSIP” or “ISIN” numbers. 

Section 312. Original Issue Discount. 

If any of the Securities is an Original Issue Discount Security, the Company shall deliver an Officers’ Certificate to the Trustee
promptly at the end of each calendar year (1) specifying the amount of original issue discount (including daily rates and accrual periods) accrued on such Outstanding Original Issue Discount Securities as of the end of such year and
(2) including such other specific information relating to such original issue discount as may then be relevant under the Code. 

Section 313. General Provisions Relating to Global Securities. 

Owners of beneficial interests in the Securities evidenced by a Global Security will not be entitled to any rights under this Indenture with
respect to such Global Security, and the Depositary or its nominee may be treated by the Company, the Guarantors, and the Trustee and any agent of the Company, the Guarantors or the Trustee, including any Security Registrar or Paying Agent as the
owner and Holder of such Global Security for all purposes whatsoever. None of the Company, the Guarantors, the Trustee, the Security Registrar, the Paying Agent or any other agent of the Company, the Guarantors or of the Trustee shall have any
responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership
interests. None of the Company, the Guarantors, the Trustee, the Security Registrar, the Paying Agent or any other agent of the Company, the Guarantors or of the Trustee shall have any responsibility or liability to any person for any acts or
omissions of the Depositary or its nominee in respect of a Global Security, for the records of any such Depositary, including records in respect of beneficial ownership interests in respect of such Global

  
 25 

 
Security, for any transactions between such Depositary and any participant or indirect participant in such Depositary or between or among such Depositary, any participant or indirect participant
in such Depositary and/or any Holder or owner of a beneficial interest in such Global Security, or for any transfers of beneficial interests in any such Global Security. Notwithstanding the foregoing, nothing herein shall prevent the Company, the
Trustee, the Security Registrar or the Paying Agent or such agent from giving effect to any written certification, proxy or other authorization furnished by the Depositary or its nominee or impair, as between the Depositary or its nominee and such
owners of beneficial interests, the operation of customary practices governing the exercise of the rights of the Depositary or its nominee as Holder of any Global Security. 

ARTICLE IV 

SATISFACTION AND DISCHARGE 

Section 401. Satisfaction and Discharge of Indenture. 

This Indenture shall, upon Company Request, cease to be of further effect with respect to any series of Securities specified in such Company
Request (except as to any surviving rights of registration of transfer or exchange of Securities of such series expressly provided for herein or in the terms of such Security), and the Trustee, at the expense of the Company, shall execute such
instruments acknowledging satisfaction and discharge of this Indenture as to such series, when: 
 (1) either 

(A) all Securities of such series theretofore authenticated and delivered (other than (i) Securities which have been
mutilated, destroyed, lost or stolen and which have been replaced or paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 

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

(i) have become due and payable, or 

(ii) will become due and payable at their Stated Maturity within one year of the date of deposit, or 

(iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice
of redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company, in the case of (i), (ii) or
(iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose an amount of money or U.S. Government Obligations, or a combination thereof (such amount to be certified pursuant to an Officers’
Certificate in the case of U.S. Government Obligations) in an amount sufficient to pay and discharge the entire Indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and premium, if any, and
interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 

  
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 (2) the Company has paid or caused to be paid all other sums payable hereunder by the
Company; and 
 (3) the Company has delivered to the Trustee an Officers’ Certificate of the Company and an Opinion of Counsel, each
stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture as to such series have been complied with. 

In the event there are Securities of two or more series hereunder, the Trustee shall be required to execute an instrument acknowledging
satisfaction and discharge of this Indenture only if requested to do so with respect to Securities of such series as to which it is Trustee and if the other conditions thereto are met. 

Notwithstanding the satisfaction and discharge of this Indenture with respect to Securities of any series, the obligations of the Company and
the Guarantors to the Trustee under Section 607 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section 401 with respect to such Securities, the obligations of the Company
with respect to such series of Securities under Section 1002 and the obligations of the Trustee under Section 402 and the last paragraph of Section 1003 shall survive such satisfaction and discharge. 

Section 402. Application of Trust Money. 

Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401 shall
be held in trust and applied by it, in accordance with the provisions of the applicable series of Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the
Trustee may determine, to the Persons entitled thereto, of the principal and premium, if any, and interest for whose payment such money has been deposited with the Trustee. Funds held in trust under Section 401 and 1305 shall not be subject to
the claims of the holders of Senior Indebtedness under Article XV. All money deposited with the Trustee pursuant to Section 401 (and held by it or any Paying Agent) for the payment of Securities subsequently converted into other property shall
be returned to the Company upon Company Request. 
 ARTICLE V 

REMEDIES 

Section 501. Events of Default. 

Except as may be otherwise provided pursuant to Section 301 for Securities of any series, an “Event of Default” means, whenever
used herein or in a Security issued hereunder with respect to Securities of any series, any one of the following events (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): 

(1) the Company defaults in the payment of any installment of interest on any Security of such series, and such default continues for a period
of 30 consecutive days after such payment becomes due and payable; 
 (2) the Company defaults in the payment of the principal of or premium,
if any, on any Security of such series when the same becomes due and payable, regardless of whether such payment 

  
 27 

 
became due and payable at its Stated Maturity, upon redemption, upon declaration of acceleration or otherwise; 

(3) the Company defaults in the deposit of any sinking fund payment, when and as due by the terms of a Security of such series; 

(4) any Credit Party defaults in the performance of, or breaches, any of its covenants and agreements in respect of any Security of such series
contained in this Indenture or in the Securities of such series (other than those referred to in (1), (2) or (3) above), and such default or breach continues for a period of 90 days after the notice specified below; 

(5) the Company or any Guarantor, pursuant to or within the meaning of the Bankruptcy Law: 

(A) commences a voluntary case or proceeding; 

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

(C) consents to the appointment of a Custodian (as defined below) of it or for all or substantially all of its property; 

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

(E) files a petition in bankruptcy or answer or consent seeking reorganization or relief; 

(F) consents to the filing of such petition or the appointment of or taking possession by a Custodian; or 

(G) takes any comparable action under any foreign laws relating to insolvency; 

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

(A) is for relief against the Company or any Guarantor in an involuntary case, or adjudicates the Company or any Guarantor
insolvent or bankrupt; 
 (B) appoints a Custodian of the Company or any Guarantor or for all or substantially all of the
property of the Company or any Guarantor; or 
 (C) orders the winding-up or
liquidation of the Company or any Guarantor (or any similar relief is granted under any foreign laws), 
 and the order or decree remains
unstayed and in effect for 90 days; 
 (7) except as otherwise provided herein, a Guarantee of any Guarantor ceases to be in full force and
effect or is declared to be null and void and unenforceable or such Guarantee is found to be invalid or a Guarantor denies its liability under its Guarantee (other than by reason of release of such Guarantee in accordance with the terms of this
Indenture); 
 (8) one or more defaults shall have occurred under any of the agreements, indentures or instruments under which the Company or
any of its Significant Subsidiaries has outstanding Indebtedness in excess of $250.0 million, individually or in the aggregate, and either (a) such default results from the 

  
 28 

 
failure to pay such Indebtedness at its stated final maturity and such default has not been cured or the Indebtedness repaid in full within 20 days of the default or (b) such default or
defaults have resulted in the acceleration of the maturity of such indebtedness and such acceleration has not been rescinded or such Indebtedness repaid in full within 20 days of the acceleration; 

(9) one or more judgments or orders that exceed $250.0 million in the aggregate (net of amounts covered by insurance or bonded) for the
payment of money have been entered by a court or courts of competent jurisdiction against the Company or any of its Significant Subsidiaries and such judgment or judgments have not been satisfied, stayed, annulled or rescinded within 60 days after
such judgment or judgments become final and nonappealable; or 
 (10) any other Event of Default provided with respect to Securities of such
series occurs. 
 The term “Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state or foreign
law for the relief of debtors. The term “Custodian” means any custodian, receiver, trustee, assignee, liquidator or other similar official under any Bankruptcy Law. 

A Default with respect to Securities of any series under clause (4) of this Section 501 shall not be an Event of Default until the
Trustee (by written notice to the Company and the Guarantors) or the Holders of not less than 25% in aggregate principal amount of all series of Outstanding Securities affected thereby (by written notice to the Company and the Guarantors and the
Trustee) gives notice of the Default and the Company and the Guarantors do not cure such Default within the time specified in clause (4) after receipt of such notice. Such notice must specify the Default, demand that it be remedied and state
that such notice is a “Notice of Default.” 
 The Trustee is not to be charged with knowledge of any Default or Event of
Default or knowledge of any cure of any Default or Event of Default unless either (i) a Responsible Officer of the Trustee has actual knowledge of such Default or Event of Default or (ii) written notice of such Default or Event of Default
has been given to a Responsible Officer of the Trustee by the Company or any Holder. 
 Section 502. Acceleration of Maturity;
Rescission and Annulment. 
 Except as may otherwise be provided pursuant to Section 301 for all or any specific Securities of any
series, if an Event of Default with respect to Securities of any series at the time Outstanding (other than an Event of Default specified in Section 501(5) or (6) with respect to the Company) occurs and is continuing, then in every such
case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series may declare the principal amount of all the Securities of such series (or, if any Securities of such series are Original
Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof), together with any accrued and unpaid interest thereon, to be due and payable immediately, by a notice in writing to the
Company and the Guarantors (and to the Trustee if given by Holders), and upon any such declaration, such principal amount (or specified amount), together with any accrued and unpaid interest thereon, shall become immediately due and payable. Except
as may otherwise be provided pursuant to Section 301 for all or any specific Securities of any series, if an Event of Default specified in Section 501(5) or (6) with respect to the Company occurs, the principal amount of all the
Securities of such series (or, in the case of any Security of such series which specifies an amount to be due and payable thereon upon acceleration of the Maturity thereof, such amount as may be specified by the terms thereof), together with any
accrued and unpaid interest thereon, shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. Upon payment of such amounts, all obligations of the Company in
respect of the payment of principal and interest of the Securities of such series shall terminate. 

  
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 Except as may otherwise be provided pursuant to Section 301 for all or any specific
Securities of any series, at any time after such a declaration of acceleration with respect to the Securities of any series has been made and before a judgment or decree for payment of the money due based on such acceleration has been obtained by
the Trustee as hereinafter in this Article V provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, by written notice to the Company, the Guarantors and the Trustee, may rescind and annul such
declaration and its consequences if: 
 (1) the Company or any Guarantor has paid or deposited with the Trustee a sum sufficient to pay: 

(A) all overdue interest on all Securities of such series, 

(B) the principal of and premium, if any, on any Securities of such series which have become due otherwise than by such
declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in the Securities of such series, 

(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed
therefor in such Securities, and 
 (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel; and 
 (2) all Events of Default with respect to Securities of
such series, other than the nonpayment of the principal of Securities of such series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 512. 

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

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

The Company covenants that if (1) default is made in the payment of any interest on any Security when such interest becomes due and
payable and such default continues for a period of 30 days, or (2) default is made in the payment of the principal of or premium, if any, on any Security at the Maturity thereof, it will, upon demand of the Trustee, pay to the Trustee, for the
benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and premium, if any, and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any
overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 If an Event of Default with respect
to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee
shall deem necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

  
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 Section 504. Trustee May File Proofs of Claim. 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other
judicial proceeding relative to the Company, any Guarantor or any other obligor upon the Securities or the property of the Company, any Guarantor or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the
Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company or any Guarantor for the payment of overdue principal or interest) shall
be entitled and empowered, by intervention in such proceeding or otherwise 
 (1) to file and prove a claim for the whole amount of principal
and premium, if any, and interest owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 

(2) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any
custodian, receiver, assignee, trustee, liquidator, sequestrator (or other similar official) in any such judicial proceeding is hereby authorized by the Holder to make such payments to the Trustee and in the event that the Trustee shall consent to
the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and for any other amounts due the Trustee
under Section 607. 
 No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or
adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 

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

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of
any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, any predecessor Trustee under Section 607, its agents and counsel, be for the ratable benefit of the Holders of the Securities in
respect of which such judgment has been recovered. 
 Section 506. Application of Money Collected. 

Any money or property collected by the Trustee pursuant to this Article V, and any money or other property distributable in respect of the
Company’s obligations under this Indenture after the occurrence of an Event of Default, shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or
premium, if any, or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 

  
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 FIRST: To the payment of all amounts due the Trustee (including any
predecessor Trustee) under Section 607; 
 SECOND: Subject to Article XV, to the payment of the amounts then due and
unpaid for principal of and premium, if any, and interest on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable
on such Securities for principal and premium, if any, and interest, respectively; and 
 THIRD: Subject to Article XV, to the
payment of the remainder, if any, to the Company or the Guarantors or to whomsoever may be lawfully entitled to receive the same as a court of competent jurisdiction may direct. 

Section 507. Limitation on Suits. 

Except as otherwise provided in Section 508, no Holder of any Security of any series shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver, assignee, trustee, liquidator or sequestrator (or similar official) or for any other remedy hereunder, unless: 

(1) such Holder has previously given written notice to the Trustee of a continuing Event of Default, specifying an Event of Default with
respect to the Securities of such series; 
 (2) the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities
of such series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

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

it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any
provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are prejudicial to
any other Holders), or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such
Holders. 
 Section 508. Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert Securities.

 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and
unconditional, to receive payment of the principal of and premium, if any, and, subject to Section 307, interest on such Security on the respective Stated Maturities expressed in 

  
 32 

 
such Security (or, in the case of redemption or repayment, on the Redemption Date or Repayment Date, as the case may be, and, if the terms of such Security so provide, to convert such Security in
accordance with its terms) and to institute suit for the enforcement of any such payment and, if applicable, any such right to convert, and such rights shall not be impaired without the consent of such Holder. 

Section 509. Rights and Remedies Cumulative. 

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

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall
impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article V or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 511. Control by Holders. 

The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series shall have the right to
direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series; provided that 

(1) such direction shall not be in conflict with any rule of law or with this Indenture and shall not involve the Trustee in any personal
liability, 
 (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 

Before proceeding to exercise any right or power hereunder at the direction of the Holders, the Trustee shall be entitled to receive from such
Holders security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 

Section 512. Waiver of Past Defaults. 

The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series may on behalf of the Holders
of all the Securities of such series by notice to the Trustee waive any past Default hereunder with respect to such series and its consequences, except a Default 

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

  
 33 

 (2) in respect of a covenant or provision hereof which under Article IX cannot be modified
or amended without the consent of the Holder of each Outstanding Security of such series affected, 
 provided that there had been paid or deposited
with the Trustee a sum sufficient to pay all amounts due to the Trustee and to reimburse the Trustee for any and all fees, expenses and disbursements advanced by the Trustee, its agents and its counsel incurred in connection with such Default or
Event of Default. 
 Upon any such waiver with respect to any series, such Default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured with respect to such series, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 

Section 513. Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered
or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess reasonable attorneys’ fees and expenses and costs against any such party litigant, in the
manner and to the extent provided in the Trust Indenture Act; provided that neither this Section 513 nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any
suit instituted by the Company, any Guarantor or the Trustee, a suit by a Holder under Section 508, or a suit by Holders of more than 10% in aggregate principal amount of the Outstanding Securities of a series. 

Section 514. Waiver of Usury, Stay or Extension Laws. 

Each of the Company and the Guarantors covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead,
or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and each of the
Company and the Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee,
but will suffer and permit the execution of every such power as though no such law had been enacted. 
 Section 515. Restoration of
Rights and Remedies. 
 If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture
and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Guarantors, the
Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

ARTICLE VI 
 THE
TRUSTEE 
 Section 601. Certain Duties and Responsibilities of Trustee. 

(1) Except during the continuance of an Event of Default with respect to any series of Securities, 

  
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 (A) the Trustee undertakes to perform such duties and only such duties as
are specifically set forth in this Indenture with respect to the Securities of such series, and no implied covenants or obligations shall be read into this Indenture against the Trustee with respect to such series; and 

(B) in the absence of negligence or willful misconduct on its part, the Trustee may conclusively rely with respect to the
Securities of such series, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any
such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this
Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts, statements, opinions or conclusions stated therein). 

(2) In case an Event of Default with respect to any series of Securities has occurred and is continuing, the Trustee shall exercise such of the
rights and powers vested in it by this Indenture with respect to the Securities of such series, 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 his or
her own affairs. 
 (3) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action,
its own negligent failure to act, or its own willful misconduct, except that: 
 (A) this Section 601(3) shall not be
construed to limit the effect of Section 601(1) or Section 601(4); 
 (B) the Trustee shall not be liable for any
error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(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 direction of the Holders of a majority in aggregate principal amount of the Outstanding Securities of any series, determined as provided in Sections 101, 104 and 511, relating to the time, method and place of conducting any proceeding for
any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series. 

(4) No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably
assured to it. 
 (5) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting
the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 601. 
 Section 602.
Notice of Defaults. 
 If a Default occurs with respect to Securities of any series and is continuing and written notice of such
Default has been received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, the Trustee shall give to each Holder of Securities of such series notice of Default within 90 

  
 35 

 
days after such written notice is received by such Responsible Officer. Except in the case of a Default in payment of principal of or interest on any Security, the Trustee may withhold notice if
and so long as a committee of Responsible Officers in good faith determines that withholding such notice is in the interests of Holders of Securities of such series. 

Section 603. Certain Rights of Trustee. 

Subject to the provisions of Section 601: 

(1) the Trustee may conclusively rely and shall fully be protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, judgment, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the
proper party or parties; 
 (2) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request
or Company Order, and any resolution of the member or members of the Company or board of managers of the Company, as the case may be, shall be sufficiently evidenced by a Company Resolution thereof; 

(3) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to
taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) shall be entitled to receive and may, in the absence of negligence or willful misconduct on its part, conclusively rely upon an
Officers’ Certificate of the Company or the Guarantors; 
 (4) the Trustee may consult with counsel of its selection and the advice of
such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(5) before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or both. The Trustee
shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel; 

(6) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction
of any of the Holders pursuant to this Indenture, unless such Holders shall have offered and if requested, provided to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction; 
 (7) 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, judgment, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may
make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the
Company or the Guarantors, personally or by agent or attorney at the sole cost of the Company or the Guarantors and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation; 

(8) 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 

  
 36 

 
any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 

(9) 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 employed to act hereunder; 

(10) 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; 
 (11) anything in this Indenture
notwithstanding, 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; 
 (12) 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, by circumstances beyond its control, including, without limitation, any act or provision of any
present or future law or regulation or governmental authority; strikes, work stoppages, accidents, labor disputes, acts of war or terrorism, civil or military disturbances, acts of civil or military authority or governmental actions, nuclear or
natural catastrophes or acts of God, earthquakes, fires, floods, sabotage, epidemics, pandemics, riots, interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services or the unavailability of the
Federal Reserve Bank wire or telex or other wire or communication facility; it being understood that the Trustee shall use reasonable efforts that are consistent with accepted practices to resume performance as soon as practicable under the
circumstances; 
 (13) the Trustee shall not be deemed to have notice of any Default or Event of Default unless written notice of such
Default or Event of Default, as the case may be, has been actually received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee from the Company or any Holder, and such notice references the Securities, this
Indenture and states that it is a “Notice of Default”; 
 (14) the Trustee may request that the Company and/or any Guarantor
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; 

(15) the Trustee shall not be required to give any bond or surety in respect of the execution of the trusts and powers under this Indenture;
and 
 (16) the permissive right of the Trustee to take or refrain from taking action hereunder shall not be construed as a duty. 

Section 604. Not Responsible for Recitals or Issuance of Securities. 

The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements
of the Company and the Guarantors, as the case may be, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representation as to, the validity or adequacy of this Indenture or the Securities. The Trustee is not
(1) accountable for the Company’s use of the proceeds from the Securities, or any money paid to the Company or upon the 

  
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Company’s direction under any provision of this Indenture; (2) responsible for the use or application of any money received by any Paying Agent other than the Trustee; and
(3) responsible for any statement or recital in this Indenture, the Securities or any other document relating to the sale of the Securities or this Indenture, other than its certificate of authentication. 

Section 605. May Hold Securities. 

The Trustee, any Paying Agent, any Security Registrar or any other agent of the Company or the Guarantors, in its individual or any other
capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with the Company and the Guarantors with the same rights it would have if it were not Trustee, Paying Agent, Security Registrar or such
other agent. 
 Section 606. Money Held in Trust. 

Money held by the Trustee in trust hereunder shall, until used or applied as herein provided, be held in trust for the purposes for which they
were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on or the investment of any money received by it hereunder except as otherwise agreed with the
Company in writing. 
 Section 607. Compensation and Reimbursement. 

The Company and each Guarantor jointly and severally agrees: 

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

(2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel and all Persons not regularly in its employ),
except any such expense, disbursement or advance as may be attributable to its negligence or willful misconduct, as determined by a final order of a court of competent jurisdiction; and 

(3) to indemnify each of the Trustee or any predecessor Trustee and its officers, agents, directors and employees for, and to hold each of them
harmless against, any and all losses, damages, claims, liabilities, expenses (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel and all Persons not regularly in its employ) and costs
(including taxes) incurred without negligence or willful misconduct on its part as determined by a final order of a court of competent jurisdiction, arising out of or in connection with this Indenture, the Securities, the Guarantees and the
transactions contemplated hereby and thereby, including the acceptance or administration of the trust or trusts hereunder, including the reasonable costs and expenses of defending itself against any claim (whether asserted by the Company, or any
Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, or in connection with enforcing the provisions of this Section. 

In addition to, but without prejudice to its other rights under this Indenture, when the Trustee incurs expenses or renders services in
connection with an Event of Default specified in Section 501(5) or (6), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for 

  
 38 

 
the services are intended to constitute expenses of administration under any applicable Federal or state bankruptcy, insolvency or other similar law. 

“Trustee” for purposes of this Section shall include any predecessor Trustee; provided, however, that the negligence or
willful misconduct of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. 
 As security for the performance
of the obligations of the Company and the Guarantor under this Section, the Trustee shall have a lien prior to the Securities upon all property and funds held or collected by it hereunder for any amount owing it or any predecessor Trustee pursuant
to this Section 607, except with respect to funds held in trust for the benefit of the Holders of particular Securities for the payment of principal of and premium, if any, or interest. 

The provisions of this Section 607 shall survive the satisfaction and discharge of the Securities, the termination for any reason of this
Indenture and the resignation or removal of the Trustee. 
 Section 608. Conflicting Interests. 

If the Trustee has or shall acquire a conflicting interest within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee
shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. 

Section 609. Corporate Trustee Required; Eligibility. 

There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder
for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such, has a combined capital and surplus of at least $50,000,000 and has its Corporate Trust Office in the
Borough of Manhattan, The City of New York or any other city in the United States that is acceptable to the Company. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or
examining authority, then for the purposes of this Section 609 and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its
most recent annual report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section 609, it shall resign immediately in the
manner and with the effect hereinafter specified in this Article VI. 
 Section 610. Resignation and Removal; Appointment of
Successor. 
 No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become
effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 611. 

The Trustee or any successor hereafter appointed may resign at any time with respect to the Securities of one or more series by giving written
notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may
petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

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

(1) the Trustee shall fail to comply with Section 608 after written request therefor by the Company, the Guarantors or any Holder who has
been a bona fide Holder of a Security for at least six months, or 
 (2) the Trustee shall cease to be eligible under Section 609
and shall fail to resign after written request therefor by the Company, the Guarantors or any such Holder, or 
 (3) the Trustee shall become
incapable of acting or shall be adjudged bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of
the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company or the Guarantors may remove the Trustee with respect to all Securities or (B) subject to
Section 513, Holders of 10% in aggregate principal amount of Securities of any series who have been bona fide Holders of such Securities for at least six months may, on behalf of themselves and all others similarly situated, petition any
court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 

If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause,
with respect to the Securities of one or more series, the Company or the Guarantors shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee
may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of
Section 611. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Company,
any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee
with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee
so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the
successor Trustee appointed by the Company or the Guarantors. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company, the Guarantors or the Holders and accepted appointment in the manner
required by Section 611, Holders of 10% in aggregate principal amount of Securities of any series who have been bona fide Holders of Securities of such series for at least six months may, on behalf of themselves and all others similarly
situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

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

Section 611. Acceptance of Appointment by Successor. 

In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall
execute, acknowledge and deliver to the Company, the Guarantors and the retiring Trustee a written instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee, but, on the request of the Company, the Guarantors or the successor Trustee, such retiring Trustee
shall, upon payment of its charges, execute and deliver a written instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all
property and money held by such retiring Trustee hereunder subject nonetheless to the lien provided for in Section 607. 
 In case of
the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the Guarantors, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series
shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in,
each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not
retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series
as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such
Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of
the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company, the Guarantors or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to
such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates subject nonetheless to the lien provided for in
Section 607. 
 Upon request of any such successor Trustee, the Company and the Guarantors shall execute any and all instruments for
more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be. 

No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible
under this Article VI. 

  
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 Upon acceptance of appointment by a successor trustee as provided in this Section, the
Company shall transmit notice of the succession of such trustee hereunder to the Holders in accordance with Section 106. If the Company fails to transmit such notice within ten days after acceptance of appointment by the successor trustee, the
successor trustee shall cause such notice to be transmitted at the expense of the Company. 
 Section 612. Merger, Conversion,
Consolidation or Succession to Business. 
 Any Person into which the Trustee may be merged or converted or with which it may be
consolidated, or any Person resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any Person succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the
Trustee hereunder; provided that such Person shall be otherwise qualified and eligible under this Article VI, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have
been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect
as if such successor Trustee had itself authenticated such Securities; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall
have. 
 Section 613. Preferential Collection of Claims Against Company. 

If and when the Trustee shall be or become a creditor of the Company or any Guarantor (or any other obligor upon the Securities), the Trustee
shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company or any Guarantor (or any such other obligor). 

Section 614. Trustee’s Application for Instructions from the Company. 

Any application by the Trustee for written instructions from the Company may, at the option of the Trustee, set forth in writing any action
proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of, the
Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than 10 Business Days after the date any Officer of the Company actually receives such application,
unless any such Officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the Trustee shall have received written instructions in response to such
application specifying the action to be taken or omitted. 
 ARTICLE VII 

HOLDERS’ LISTS AND REPORTS BY THE
TRUSTEE, THE COMPANY AND THE GUARANTORS 

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

If the Trustee is not the Security Registrar, the Company shall cause the Security Registrar to furnish to the Trustee, in writing at least
five Business Days before each Interest Payment Date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders of Securities of
each series. 

  
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 Section 702. Preservation of Information; Communications to Holders. 

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

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

Section 703. Reports by Trustee. 

If and to the extent this Indenture is subject to the Trust Indenture Act with respect to the Securities of any series as contemplated by
Section 301 for Securities of such series, the Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner
provided pursuant thereto. If required by Section 313(a) of the Trust Indenture Act, the Trustee shall, within 60 days after each beginning with                
following the date of this Indenture, deliver to Holders a brief report, dated as of such                 , which complies with the provisions of such
Section 313(a). 
 A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each
stock exchange and automated quotation system, if any, upon which any Securities are listed, with the Commission (if accepted for filing by the Commission) and the Company. The Company will notify the Trustee in writing when any Securities are
listed on any stock exchange or automated quotation system or delisted therefrom. 
 Section 704. Reports by the Company and the
Guarantors. 
 Delivery of reports, information and documents to the Trustee is for informational purposes only and shall not constitute
a representation or warranty as to the accuracy or completeness of the reports, information and documents. The Trustee’s receipt of such shall not actual or constitute constructive notice of any information contained therein or determinable
from information contained therein, including the Company’s or the Guarantors’ compliance with any of their covenants under this Indenture or with respect to any Securities (as to which the Trustee is entitled to rely exclusively on
Officers’ Certificates of the Company and the Guarantors). 
 ARTICLE VIII 

CONSOLIDATION, MERGER, SALE OF ASSETS AND
OTHER TRANSACTIONS 
 Section 801. Company and Guarantors May Merge or Transfer Assets on Certain
Terms. 
 (a) None of the Credit Parties may consolidate with or merge into any other Person, or convey, transfer or lease its properties
and assets substantially as an entirety to any Person, unless: 

  
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 (1) such Credit Party is the surviving Person, or the Person formed by such
consolidation or into which such Credit Party is merged or the Person which acquires by conveyance or transfer, or which leases, such Credit Party’s properties and assets substantially as an entirety (if not such Credit Party) (a
“Successor Party”) is a corporation, limited liability company, partnership or other entity that is organized and validly existing under the laws of the United States or any state thereof, Bermuda, Cayman Islands, Gibraltar or
British Crown Dependencies, a member country of the Organisation for Economic Co-operation and Development, or any political subdivision of any of the foregoing (together with the United States or any state
thereof, the “Permitted Jurisdictions”), and has expressly assumed by supplemental indenture all of the obligations of such Credit Party under this Indenture; 

(2) immediately after giving effect to such transaction, no Default or Event of Default has occurred and is continuing; and

 (3) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such
transaction and any supplemental indenture relating thereto comply with this Indenture and that all conditions precedent provided for in this Indenture relating to such transaction have been complied with. 

(b) For as long as any Securities of any series under this Indenture remain Outstanding, each of the Credit Parties must be organized under the
laws of a Permitted Jurisdiction. 
 Section 802. Successor Person Substituted. 

Upon the consummation of a transaction contemplated by and consummated in accordance with Section 801, the Successor Person shall succeed
to, and be substituted for, and may exercise every right and power of, the applicable Credit Party under this Indenture and the Securities (including the Guarantees) with the same effect as if such Successor Person had been an original party to this
Indenture, and, except in the case of a lease, the applicable Credit Party shall be released from all of its liabilities and obligations under this Indenture and the Securities (if the applicable Credit Party was the Company (or a successor
thereto)) and the Guarantee (if the applicable Credit Party was a Guarantor). 
 ARTICLE IX 

SUPPLEMENTAL INDENTURES 

Section 901. Supplemental Indentures Without Consent of Holders. 

Without the consent of any Holders, the Company, the Guarantors and the Trustee, at any time and from time to time, may enter into one or more
indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
 (1) to add to the covenants for
the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or
to surrender any right or power conferred upon the Company or any Guarantor hereunder, under any indenture supplemental hereto or under any series of Securities; 

(2) to evidence the succession of another Person to the Company or any Guarantor, or successive successions, and the assumption by the
successor Person of the covenants, agreements and obligations of the Company or such Guarantor pursuant to Article VIII; 

  
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 (3) to add any additional Events of Default for the benefit of the Holders of all or any
series of Securities (and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit of such series); 

(4) to add new Guarantors; 
 (5)
to provide for the release of any Guarantor in accordance with this Indenture; 
 (6) to secure the Securities of any series; 

(7) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more
series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 611; or 

(8) to provide for the issuance of additional Securities of any series; 

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

(10) to comply with the rules of any applicable Depositary; 

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

(13) to cure any ambiguity, to correct or supplement any provision of this Indenture which may be defective or inconsistent with any other
provision herein; and 
 (14) to change any other provision contained in the Securities of any series or under this Indenture;
provided that such action pursuant to this clause (14) shall not adversely affect the interests of the Holders of Securities of any series in any material respect. 

Section 902. Supplemental Indentures With Consent of Holders. 

With the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of each series affected
by such supplemental indenture (including consents obtained in connection with a tender offer or exchange for Securities), by Act of said Holders delivered to the Company, the Guarantors and the Trustee, the Company, the Guarantors and the Trustee
may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of
Securities of such series under this Indenture; provided, however, no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security of such series affected thereby: 

  
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 (1) change the Stated Maturity of the principal of, or any installment of principal of or
interest on, any Security; 
 (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue
Discount Security or any other Security which would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or reduce the rate of or extend the time of payment of interest on any Security; 

(3) reduce any premium payable upon the redemption of or change the date on which any Security may or must be redeemed; 

(4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; 

(5) impair the right of any Holder to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in
the case of redemption or repayment, on or after the Redemption Date or Repayment Date, as applicable); 
 (6) reduce the percentage in
principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this
Indenture or certain defaults hereunder and their consequences) provided for in this Indenture; 
 (7) modify any of the provisions of this
Section 902, Section 512 or Section 1005, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security
affected thereby; provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section 902 and
Section 1005, or the deletion of this proviso, in accordance with the requirements of Section 611 and Section 901(7); 
 (8)
if the Securities of any series are convertible into or for any other securities or property of the Company, make any change that adversely affects in any material respect the right to convert any Security of such series (except as permitted by
Section 901) or decrease the conversion rate or increase the conversion price of any such Security of such series, unless such decrease or increase is permitted by the terms of such Security; 

(9) subordinate the Securities of any series or any Guarantee of a Guarantor in respect thereof to any other obligation of the Company or such
Guarantor; 
 (10) modify the terms of any Guarantee in a manner adverse to the Holders of Securities of a series; or 

(11) modify clauses (1) through (10) above. 

A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included
solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series. 

  
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 It shall not be necessary for any Act of Holders under this Section 902 to approve the
particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

Section 903. Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article IX or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, in addition to the documents provided by Section 102, and, subject to Section 601, shall be fully protected in relying upon, an Opinion of Counsel
stating that the execution of such supplemental indenture is authorized or permitted by this Indenture and that all conditions precedent in this Indenture to the execution of such supplemental indenture, if any, have been complied with; provided,
however, that no such Opinion of Counsel shall be required in the case of any supplemental indenture executed and delivered concurrently with the original execution and delivery of this Indenture. The Trustee may, but shall not be obligated to,
enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

Section 904. Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture under this Article IX, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

Section 905. Notice of Supplemental Indenture; Reference in Securities to Supplemental Indentures. 

After a supplemental indenture under Section 901 (other than Section 901(9)) and 902 becomes effective, the Company shall give to the
Holders affected thereby a notice briefly describing such supplemental indenture or a copy of such supplemental indenture. Any failure of the Company to give such notice, or any defect therein, or any failure of the Company to give such notice or a
copy of such supplemental indenture, shall not in any way impair or affect the validity of any such supplemental indenture. 
 Securities of
any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article IX may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such
supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and
delivered by the Trustee in exchange for Outstanding Securities of such series. 
 ARTICLE X 

COVENANTS 

Section 1001. Payment of Principal, Premium, if any, and Interest. 

The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and
premium, if any, and interest on the Securities of such series in accordance with the terms of the Securities and this Indenture. Principal and interest shall be considered paid on the date due if, on or before 10:00 a.m. (New York City time) on
such date, the Trustee or the Paying Agent (or, if the Company or any Subsidiary of the Company is the Paying Agent, the segregated 

  
 47 

 
account or separate trust fund maintained by the Company or such Subsidiary pursuant to Section 1003) holds in accordance with this Indenture money sufficient to pay all principal, premium
and interest then due. 
 The Company shall pay interest on overdue principal at the rate specified therefor in the Securities, and it shall
pay interest on overdue installments of interest at the same rate to the extent lawful as provided in Section 307. 
 Notwithstanding
anything to the contrary contained in this Indenture, each of the Company, the Guarantors or the Paying Agent may, to the extent it is required to do so by law, deduct or withhold income or other similar taxes imposed by the United States of America
or other domestic or foreign taxing authorities from principal, premium or interest payments hereunder. 
 Section 1002. Maintenance
of Office or Agency. 
 The Company will maintain in each Place of Payment for any series of Securities an office or agency where
Securities of such series may be presented or surrendered for payment, where Securities of such series may be surrendered for registration of transfer or exchange, and where notices and demands to or upon the Company in respect of this Indenture and
the Securities of such series and this Indenture may be served (other than the type contemplated by Section 112). The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or
agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate
Trust Office of the Trustee. The Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 

The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be
presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an
office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or
agency. 
 With respect to any Global Security, and except as otherwise may be specified for such Global Security as contemplated by
Section 301, the Corporate Trust Office of the Trustee shall be the Place of Payment where such Global Security may be presented or surrendered for payment or for registration of transfer or exchange, or where successor Securities may be
delivered in exchange therefor; provided, however, that any such payment, presentation, surrender or delivery effected pursuant to the Applicable Procedures of the Depositary for such Global Security shall be deemed to have been effected at
the Place of Payment for such Global Security in accordance with the provisions of this Indenture. 
 Section 1003. Money for
Securities Payments to Be Held in Trust. 
 If the Company shall at any time act as Paying Agent with respect to any series of
Securities, it will, on or before each due date for the principal of or premium, if any, or interest on any of the Securities of such series, segregate and hold in trust for the benefit of the Holders of such Securities a sum sufficient to pay the
principal and premium, if any, and interest so becoming due until such sums shall be paid to such Holders or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

  
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 Whenever the Company shall have one or more Paying Agents for any series of Securities, it
will, no later than 10:00 a.m. (New York City time) on each due date for the principal of or premium, if any, or interest on any Securities of such series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held in trust
for the Holders of such Securities entitled to the same, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 

The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section 1003, that such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by such Paying Agent for the
payment of principal of, premium, if any, or interest on the Securities and shall notify the Trustee in writing of any default by the Company in making any such payment and that it shall any time during the continuance of such default, upon the
written request of the Trustee, forthwith pay to the Trustee all sums so held by such Paying Agent. 
 The Company may at any time, for the
purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held
by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect
to such money. 
 Subject to any applicable abandoned property law, any money deposited with the Trustee or any Paying Agent, or then held
by the Company, in trust for the payment of the principal of or premium, if any, or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to
the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability
of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease. 

Section 1004. Statement by Officers as to Default. 

The Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company (ending, as of the date of this
Indenture, December 31) ending after the date hereof an Officers’ Certificate of the Company and one of the two Officers signing must be the Company’s principal executive officer, principal financial officer or principal accounting
officer, stating whether or not, to the best knowledge of such Officer, the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture applicable to it (without regard to any period of
grace or requirement of notice provided hereunder) and, if the Company shall be in default, specifying all such defaults and the nature and status thereof of which such Officer may have knowledge and the steps the Company is taking to cure such
Default. 
 The Company shall deliver to the Trustee, as soon as possible and in any event within 30 days after the Company becomes aware of
the occurrence of any Default or Event of Default an Officers’ Certificate setting forth the details of such Default or Event of Default, its status and the actions which the Company is taking or proposes to take with respect thereto. 

  
 49 

 Section 1005. Waiver of Certain Covenants. 

Except as otherwise specified as contemplated by Section 301 for Securities of such series, the Company or the Guarantors, as the case may
be, may, with respect to the Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Section 301(18), Section 901(1) or Section 901(12)
for the benefit of the Holders of such series or in Article VIII, if before the time for such compliance the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of such series shall, by Act of such Holders,
either waive such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until
such waiver shall become effective, the obligations of the Company or the Guarantors, as the case may be, and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

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

Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 301 for such Securities) in accordance with this Article XI. 
 Section 1102.
Election to Redeem; Notice to Trustee. 
 The election of the Company to redeem any Securities shall be evidenced by a Company
Resolution or an Officers’ Certificate of the Company or in another manner specified as contemplated by Section 301 for such Securities. In case of any redemption at the election of the Company of the Securities of any series (including
any such redemption affecting only a single Security), the Company shall, at least 15 days prior to the date any notice of a redemption is to be given to the Holders pursuant to Section 1104 (unless a shorter notice shall be satisfactory to the
Trustee), notify the Trustee of such Redemption Date, of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities prior to the
expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate of the Company evidencing compliance with such
restriction. 
 Section 1103. Selection by Trustee of Securities to Be Redeemed. 

If less than all the Securities of any series are to be redeemed (unless all the Securities of such series and of a specified tenor are to be
redeemed or unless such redemption affects only a single Security), the particular certificated Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such
series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate, including by lot or pro rata, and which may provide for the selection for redemption of a portion of the principal amount of any Security of
such series; provided that the unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. If less than all the
certificated Securities of such series and of a specified tenor are to be redeemed (unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date
by the Trustee, from the Outstanding Securities of such series and specified tenor not previously called 

  
 50 

 
for redemption in accordance with the preceding sentence. Notwithstanding the foregoing, as long as the Securities of any series are represented by one or more Global Securities, beneficial
interests in such Securities shall be selected for redemption by the Depositary therefor in accordance with the Applicable Procedures. 
 If
any Security selected for partial redemption is converted in part before termination of the conversion right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the
portion selected for redemption. Securities which have been converted during a selection of securities to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such selection. 

The Trustee shall promptly notify the Company in writing of any certificated Securities selected for redemption as aforesaid and, in case of
any certificated Securities selected for partial redemption as aforesaid, the principal amount thereof to be redeemed. 
 The provisions of
the three preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether such Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the
principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. 

For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall
relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 

Section 1104. Notice of Redemption. 

Notice of redemption shall be transmitted not less than 10 nor more than 60 days prior to the Redemption Date (or within such period as
otherwise specified as contemplated by Section 301 for Securities of a series), to each Holder of Securities to be redeemed in accordance with Section 106. 

All notices of redemption shall identify the Securities to be redeemed and shall state: 

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

(4) that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable,
that interest thereon will cease to accrue on and after said date unless the Company defaults in the payment of the Redemption Price; 
 (5)
the place or places where each such Security is to be surrendered for payment of the Redemption Price; 

  
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 (6) for any Securities that by their terms may be converted, the terms of conversion, the
date on which the right to convert the Security to be redeemed will terminate and the place or places where such Securities may be surrendered for conversion; 

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

(8) if applicable, the CUSIP, ISIN or any similar numbers of the Securities of such series; provided, however, that no representation
will be made as to the correctness or accuracy of the CUSIP, ISIN or any similar number, if any, listed in such notice or printed on the Securities. 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request (which may be rescinded or revoked at any time prior to the time at which the Trustee shall have given such notice to the Holders), by the Trustee in the name and at the expense of the Company at the Company’s written request;
provided, that the Company has delivered to the Trustee the form of the notice of redemption which shall be prepared by the Company and such written request at least 5 days (or such shorter time as shall be acceptable to the Trustee)
prior to the notice date. The notice, if given in the manner herein provided, shall be conclusively presumed to have been 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 Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Securities. 

Section 1105. Deposit of Redemption Price. 

By no later than 10:00 a.m. (New York City time) on any Redemption Date, the Company shall deposit or cause to be deposited with the Trustee or
with a Paying Agent (or, if any of the Credit Parties is acting as Paying Agent, such Credit Party will segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the
Redemption Date shall be an Interest Payment Date or the Securities of the series provide otherwise) accrued interest to but excluding the Redemption Date on, all the Securities which are to be redeemed on that date. All money, if any, earned on
funds held by the Paying Agent shall be remitted to the Company. In addition, the Paying Agent shall upon written request of the Company, promptly return to the Company any money deposited with the Paying Agent by the Company in excess of the
amounts necessary to pay the Redemption Price of, and accrued interest, if any, on, all Securities to be redeemed. 
 If any Security called
for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held in trust for the redemption of such Security shall (subject to any right of the Holder of such Security or any Predecessor Security
to receive interest as provided in the last paragraph of Section 307 or in the terms of such Security) be paid to the Company upon Company Request or, if then held by the Company, shall be discharged from such trust. 

Section 1106. Securities Payable on Redemption Date. 

Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at
the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such Security for
redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together, if applicable, with accrued interest to the Redemption Date; provided, however, that, unless otherwise specified as
contemplated by Section 301, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such Securities, or one or more 

  
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Predecessor Securities, registered as such at the close of business on the relevant Regular Record Dates according to their terms and the provisions of Section 307. 

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

ARTICLE XII 
 SINKING FUNDS 

Section 1201. Applicability of Article. 

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

Section 1203. Redemption of Securities for Sinking Fund. 

Not less than 60 days (or such shorter period as shall be satisfactory to the Trustee) prior to each sinking fund payment date for any
Securities, the Company will deliver to the Trustee an Officers’ 

  
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Certificate of the Company specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the portion thereof, if any, which is to be
satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities pursuant to Section 1202 and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days
prior to each such sinking fund payment date, the Securities to be redeemed upon such sinking fund payment date shall be selected in the manner specified in Section 1103 and the Company shall give or cause notice of the redemption thereof to be
given in the name of and at the expense of the Company in the manner provided in Section 1104. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and
1107. 
 ARTICLE XIII 

DEFEASANCE AND COVENANT DEFEASANCE 

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

Unless otherwise provided as contemplated by Section 301, Sections 1302 and 1303 shall apply to all Securities and each series of
Securities, denominated in U.S. dollars and bearing interest at a fixed rate, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article XIII; and the
Company may elect, at its option at any time, to have Section 1302 and Section 1303 applied to any Securities or any series of Securities, designated pursuant to Section 301 as being defeasible pursuant to such Section 1302 or
Section 1303, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article XIII. Any such election shall be evidenced by a Company Resolution,
Officers’ Certificate of the Company or in another manner specified as contemplated by Section 301 for such Securities. 

Section 1302. Defeasance. 

Upon the Company’s exercise of its option, if any, to have this Section 1302 applied to any Securities or any series of Securities,
or if this Section 1302 shall otherwise apply to any Securities or any series of Securities, the Company and the Guarantors shall be deemed to have been discharged from their respective obligations with respect to such Securities and related
Guarantees as provided in this Section 1302 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means that each of the Company
and the Guarantors shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and Guarantees and to have satisfied all its other obligations under such Securities and Guarantees and this Indenture insofar as
such Securities and Guarantees are concerned (and the Trustee, at the expense of the Company or the Guarantors, as the case may be, shall execute such instruments acknowledging the same), subject to the following which shall survive until otherwise
terminated or discharged hereunder: (1) the rights of Holders of such Securities to receive, solely from the trust fund described in Section 1304 and as more fully set forth in such Section 1305, payments in respect of the principal
of and premium, if any, and interest on such Securities when payments are due, (2) the Company’s obligations with respect to such Securities and the Guarantors’ obligations with respect to such Guarantees under Sections 304, 305, 306,
1002 and 1003, (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the obligations of the Company and the Guarantors in respect thereof and (4) this Article XIII. Subject to compliance with this Article XIII, the
Company or the Guarantors may exercise their option, if any, to have this Section 1302 applied to the Securities of any series and the related Guarantees notwithstanding the prior exercise of its option, if any, to have Section 1303
applied to such Securities and Guarantees. 

  
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 Section 1303. Covenant Defeasance. 

Upon the Company’s exercise of its option, if any, to have this Section 1303 applied to any Securities or any series of Securities,
or if this Section 1303 shall otherwise apply to any Securities or any series of Securities, (1) the Company and the Guarantors shall be released from their respective obligations under Section 801 and any covenants provided pursuant
to Section 301(18), Section 901(1) or Section 901(12) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(4) and Section 501(8) with respect to Section 801
and any such covenants provided pursuant to Section 301(18), Section 901(1) or Section 901(12) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities and Guarantees as provided in this
Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities
and Guarantees, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section, whether directly or indirectly by reason of any
reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected
thereby. 
 Section 1304. Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to the application of Section 1302 or 1303 to any Securities or any series of Securities: 

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

(2) In the event of an election to have Section 1302 apply to any Securities or any series of Securities, the Company shall have delivered
to the Trustee an Opinion of Counsel stating that (A) the 

  
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Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date of this Indenture, there has been a change in the applicable Federal
income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the beneficial owners of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the
deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance and discharge
were not to occur. 
 (3) In the event of an election to have Section 1303 apply to any Securities or any series of Securities, the
Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the beneficial owners of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be
effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur. 

(4) The Company shall have delivered to the Trustee an Officers’ Certificate of the Company to the effect that neither such Securities nor
any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit. 
 (5) No
Default or Event of Default with respect to such Securities or any other Securities shall have occurred and be continuing at the time of such deposit or, insofar as Section 501(5) or Section 501(6) are concerned, at any time on or prior to
the 90th day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until after such 90th day). 

(6) Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any other material
agreement or instrument to which the Company is a party or by which it is bound. 
 (7) The Company shall have delivered to the Trustee an
Officers’ Certificate of the Company and an Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with (in each case, subject to the satisfaction of the
condition in clause (5)). 
 Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for the redemption of
Securities at a future date in accordance with Article XI. 
 Section 1305. Deposited Money and U.S. Government Obligations to Be
Held in Trust; Miscellaneous Provisions. 
 Subject to the provisions of the last paragraph of Section 1003, all money and U.S.
Government Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section 1305 and Section 1306, the Trustee and any such other trustee are referred to collectively
as the “Trustee”) pursuant to Section 1304 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly
or through any such Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and premium, if any, and interest, but
money so held in trust need not be segregated from other funds except to the extent required by law. 
 Each of the Company and each
Guarantor jointly and severally agrees to pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government 

  
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Obligations deposited pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the
Holders of Outstanding Securities; provided that the Trustee shall be entitled to charge any such tax, fee or other charge to such Holder’s account. 

Anything in this Article XIII to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company
Request any money or U.S. Government Obligations held by it as provided in Section 1304 with respect to any Securities which are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant
Defeasance, as the case may be, with respect to such Securities. 
 Section 1306. Reinstatement.  

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article XIII with respect to any Securities by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities and Guarantees from which the Company and the Guarantors
have been discharged or released pursuant to Section 1302 or 1303 shall be revived and reinstated as though no deposit had occurred pursuant to this Article XIII with respect to such Securities and Guarantees, until such time as the Trustee or
Paying Agent is permitted to apply all money held in trust pursuant to Section 1305 with respect to such Securities and Guarantees in accordance with this Article XIII; provided, however, that (a) if the Company or the Guarantors
makes any payment of principal of or premium, if any, or interest on any such Security following such reinstatement of its obligations, the Company or the Guarantors, as the case may be, shall be subrogated to the rights, if any, of the Holders of
such Securities to receive such payment from the money so held in trust and (b) unless otherwise required by any legal proceeding or any order or judgment of any court or governmental authority, the Trustee or Paying Agent shall return all such
money and U.S. Government Obligations to the Company or the Guarantors, as the case may be, promptly after receiving a written request therefor at any time, if such reinstatement of the obligations of the Company or the Guarantors, as the case may
be, has occurred and continues to be in effect. 
 ARTICLE XIV 

GUARANTEE OF SECURITIES 

Section 1401. Guarantee.  

Each Guarantor hereby jointly and severally and fully and unconditionally guarantees to the Trustee each Holder of a Security authenticated and
delivered by the Trustee hereunder, and to the Trustee on behalf of each such Holder, the due and punctual payment in full of the principal of and premium, if any, and interest on such Security and all other amounts payable by the Company under this
Indenture when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call for redemption or otherwise, and interest on the overdue principal and (to the extent permitted by law) interest, if
any, on such Security (collectively, the “Obligations”), in accordance with the terms of such Security and this Indenture. If the Company shall fail to pay when due any Obligations, for whatever reason, each Guarantor shall be
jointly and severally obligated to pay in cash the same promptly. An Event of Default under this Indenture or the Security of any series shall entitle the Holders of such Securities to accelerate the Obligations of the Guarantors hereunder in the
same manner and to the same extent as the Obligations of the Company. 

  
 57 

 Section 1402. Additional Guarantors. 

If any Subsidiary of a Credit Party becomes a guarantor or an obligor in respect of Triggering Indebtedness, within 20 Business Days of such
event, such Credit Party shall cause such Subsidiary to enter into a supplemental indenture pursuant to which such Subsidiary shall agree to provide a Guarantee; provided, that in no event shall a Subsidiary of a Credit Party (other than the
Initial Guarantor) be required to provide a Guarantee if the Company reasonably determines that such Guarantee is prohibited by, or would be unduly burdensome under applicable laws or would result in adverse tax consequences to the Company or any of
its Subsidiaries. 
 Section 1403. Waiver. 

To the fullest extent permitted by applicable law, each Guarantor hereby waives the benefits of diligence, presentment, demand for payment, any
requirement that the Trustee or any of the Holders exhaust any right or take any action against the Company or any other Person, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding
first against the Company, protest or notice with respect to any Security or the indebtedness evidenced thereby or this Indenture and all demands whatsoever, and covenants that no Guarantee will be discharged except by complete performance of the
Obligations. 
 Section 1404. Guarantee of Payment. 

Each Guarantee shall constitute a guarantee of payment when due and not a guarantee of collection. Each of the Guarantors hereby agrees that,
in the event of a Default in payment of principal of or premium, if any, or interest on any Security, whether at its Stated Maturity, by declaration of acceleration, call for redemption or otherwise, legal proceedings may be instituted by the
Trustee on behalf of, or by, the Holder of such Security, subject to the terms and conditions set forth in this Indenture, directly against such Guarantor to enforce its Guarantee without first proceeding against the Company. 

Section 1405. No Discharge or Diminishment of Guarantee. 

Subject to Section 1410, the obligations of each of the Guarantors hereunder shall be absolute and unconditional and not be subject to any
reduction, limitation, termination or impairment for any reason (other than the payment in full in cash of the Obligations), including any claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and shall not be
subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Securities, this Indenture or the Obligations or otherwise. Without limiting the generality of
the foregoing, the obligations of each of the Guarantors hereunder shall not be discharged or impaired or otherwise affected by the failure of the Trustee or any Holder of the Securities to assert any claim or demand or to enforce any remedy under
this Indenture or any Security, any other guarantee or any other agreement, by any waiver, modification or indulgence of any provision thereof, by any default, failure or delay, willful or otherwise, in the performance of the Obligations, by any
release of any other Guarantor pursuant to Section 1410 or by any other act or omission or delay to do any other act that may or might in any manner or to any extent vary the risk of any Guarantor or that would otherwise operate as a discharge
of any Guarantor as a matter of law or equity (other than the payment in full in cash of all the Obligations); provided, however, that notwithstanding the foregoing, no such waiver, modification or indulgence shall, without the consent
of the Guarantors, increase the principal amount of such Security, or increase the interest rate thereon, change any redemption provisions thereof (including any change to increase any premium payable upon redemption thereof) or change the Stated
Maturity of any payment thereon, or increase the principal amount of any Original Issue Discount Security that would be due and 

  
 58 

 
payable upon a declaration of acceleration or the maturity thereof pursuant to Section 502 of this Indenture. 

Section 1406. Defenses of Company Waived. 

To the extent permitted by applicable law, each of the Guarantors waives any defense based on or arising out of any defense of the Company or
any other Guarantor or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability of the Company, other than final payment in full in cash of the Obligations. Each of the Guarantors
waives any defense arising out of any such election even though such election operates to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of each of the Guarantors against the Company or any security. 

Section 1407. Continued Effectiveness. 

Subject to Section 1410, each of the Guarantors further agrees that its Guarantee shall remain in full force and effect and continue to be
irrevocable notwithstanding any petition filed by or against the Company for liquidation or reorganization, the Company becoming insolvent or making an assignment for the benefit of creditors or a receiver or trustee being appointed for all or any
significant part of the Company’s assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any
Obligation is rescinded or must otherwise be restored or returned by the Trustee or any Holder of any Security, whether as a “voidable preference,” “fraudulent transfer” upon bankruptcy or reorganization of the Company or
otherwise, all as though such payment or performance had not been made, until the date upon which the entire Obligation, if any, and interest thereon has been, or has been deemed pursuant to the provisions of this Indenture to have been paid in
full. In the event that any payment, or any part thereof, is rescinded, reduced, restored or returned on any Obligation, such Obligation shall, to the fullest extent permitted by law, be reinstated and deemed paid only by such amount paid and not so
rescinded, reduced, restored or returned. 
 Section 1408. Subrogation. 

In furtherance of the foregoing and not in limitation of any other right of each of the Guarantors by virtue hereof, upon the failure of the
Company to pay any Obligation when and as the same shall become due, each of the Guarantors hereby promises to and will, upon receipt of written demand by the Trustee or any Holder of the Securities of any series, forthwith pay, or cause to be paid,
to the Trustee and/or the Holders in cash the amount of such unpaid Obligations, and thereupon the Holders shall, assign (except to the extent that such assignment would render a Guarantor a “creditor” of the Company within the meaning of
Section 547 of Title 11 of the United States Code as now in effect or hereafter amended or any comparable provision of any successor statute) the amount of the Obligations owed to it and paid by such Guarantor pursuant to its Guarantee to such
Guarantor, such assignment to be pro rata to the extent the Obligations in question were discharged by such Guarantor, or make such other disposition thereof as such Guarantor shall direct (all without recourse to the Trustee or such Holders, and
without any representation or warranty by the Trustee or the Holders). If (a) a Guarantor shall make payment to the Holders of all or any part of the Obligations and (b) all the Obligations and all other amounts payable under this
Indenture shall be paid in full, the Trustee will, at such Guarantor’s request, execute and deliver to such Guarantor appropriate documents, without recourse and without representation or warranty, necessary to evidence the transfer by
subrogation to such Guarantor of an interest in the Obligations resulting from such payment by such Guarantor. 

  
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 Section 1409. Subordination. 

Upon payment by any Guarantor of any sums to the Holders or the Trustee, as provided above, all rights of such Guarantor against the Company,
arising as a result thereof by way of right of subrogation or otherwise, shall in all respects be subordinated and junior in right of payment to the prior payment in full in cash of all the Obligations to the Holders and/or the Trustee;
provided, however, that any right of subrogation that such Guarantor may have pursuant to this Indenture is subject to Section 1408. 

Section 1410. Release of Guarantor and Termination of Guarantee. 

A Guarantor shall, upon the occurrence of any of the following events, be automatically and unconditionally released and discharged from all
obligations under this Indenture and its Guarantee without any action required on the part of the Trustee or any Holder; provided that such Guarantor would not, immediately after such release and discharge, be required to become a Guarantor
pursuant to Section 1402: 
 (1) upon a sale or disposition of such Guarantor such that such Guarantor ceases to be a Subsidiary of the
Company; 
 (2) if the Company exercises its Defeasance or Covenant Defeasance options or the Company’s obligations under this Indenture
are discharged in accordance with the terms of this Indenture; or 
 (3) other than with respect to the Initial Guarantor, upon the request
of the Company and the receipt by the Trustee of an Officers’ Certificate certifying that such Guarantor is not a guarantor or obligor in respect of Triggering Indebtedness. 

The Trustee shall deliver an instrument in a form reasonably requested by the Company evidencing such release upon receipt of a request of the
Company accompanied by an Officers’ Certificate and an Opinion of Counsel certifying as to the compliance with this Section. 

Section 1411. Limitation of Guarantors’ Liability. 

Each Guarantor, and by its acceptance of a Security each Holder, hereby confirms that it is the intention of all such parties that the
Guarantee by such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Title 11 of the United States Code, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal, state or non-U.S. law to the extent applicable to any Guarantor. To effectuate the foregoing intention, the Trustee, the Holders and such Guarantor hereby irrevocably agree that the obligations of such Guarantor under this
Indenture and its Guarantee shall be limited to the maximum aggregate amount which, after giving effect to all other contingent and fixed liabilities of such Guarantor, and after giving effect to any collections from or payments made by or on behalf
of, any other Guarantor in respect of the obligations of such Guarantor under its Guarantee or pursuant to its contribution obligations under this Indenture, will result in the obligations of such Guarantor under its Guarantee not constituting such
fraudulent transfer or conveyance. 
 Each Guarantee is expressly limited so that in no event, including the acceleration of the Maturity of
the Securities, shall the amount paid or agreed to be paid in respect of interest on the Securities (or fees or other amounts deemed payment for the use of funds) exceed the maximum permissible amount under applicable law, as in effect on the date
hereof and as subsequently amended or modified to allow a greater amount of interest (or fees or other amounts deemed payment for the use of funds) to be paid under such Guarantee. If for any reason the amount in respect of interest (or fees or
other amounts deemed payment 

  
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for the use of funds) required by a Guarantee exceeds such maximum permissible amount, the obligation to pay interest under such Guarantee (or fees or other amounts deemed payment for the use of
funds) shall be automatically reduced to such maximum permissible amount and any amounts collected by any Holder of any Security or the Trustee, as applicable, in excess of the permissible amount shall be automatically applied to reduce the
outstanding principal on such Security or amounts due and owing under this Indenture, as applicable. 
 Section 1412. No Obligation
to Take Action Against the Company. 
 Neither the Trustee, any Holder nor any other Person shall have any obligation to enforce or
exhaust any rights or remedies or take any other steps under any security for the Obligations or against the Company or any other Person or any property of the Company or any other Person before the Trustee, such Holder or such other Person is
entitled to demand payment and performance by any or all Guarantors of their liabilities and obligations under their Guarantees. 

Section 1413. Execution and Delivery. 

To evidence its Guarantee set forth in this Article XIV, the Initial Guarantor hereby agrees that this Indenture shall be executed on behalf of
such Guarantor by an Officer of such Guarantor, and in the case of any Additional Guarantor that becomes a Guarantor in accordance with this Indenture, such Additional Guarantor’s Guarantee shall be evidenced by the execution and delivery on
behalf of such Additional Guarantor of a supplemental indenture hereto by an Officer of such Additional Guarantor. 
 Each Guarantor hereby
agrees that its Guarantee set forth in this Article XIV shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Guarantee on any Securities. 

If an Officer whose signature is on this Indenture or any supplemental indenture no longer holds that office at the time the Trustee
authenticates any Security, the Guarantee shall be valid nevertheless. 
 The delivery of any Security by the Trustee, after the
authentication thereof hereunder, shall constitute due delivery of the Guarantee set forth in this Indenture on behalf of the Guarantors. 

ARTICLE XV 
 SUBORDINATION OF
SECURITIES 
 Section 1501. Agreement to Subordinate.  

The Company covenants and agrees, and each Holder of Securities issued hereunder by his acceptance thereof likewise covenants and agrees, that
all Securities shall be issued subject to the provisions of this Article; and each person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof accepts and agrees that the Principal of and interest on all
Securities issued hereunder shall, to the extent and in the manner herein set forth, be subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness. 

Section 1502. Payments to Holder of Securities.  

No payments on account of Principal of or interest on the Securities shall be made if at the time of such payment or immediately after giving
effect thereto there shall exist a default in any payment with respect to any Senior Indebtedness, and such default shall not have been cured or waived or shall not have ceased to exist. In addition, during the continuance of any default (other than
a payment default) with 

  
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respect to Designated Senior Indebtedness pursuant to which the maturity thereof may be accelerated, from and after the date of receipt by the Trustee of written notice from the holders of such
Designated Senior Indebtedness or from an agent of such holders, stating that such default has occurred and is continuing, no payments on account of Principal or interest in respect of the Securities may be made by the Company for a period
(“Payment Blockage Period”) commencing on the date of delivery of such notice and ending 179 days thereafter (unless such Payment Blockage Period shall be terminated by written notice to the Trustee from the holders of such
Designated Senior Indebtedness or from an agent of such holders, or such default has been cured or waived or has ceased to exist). Only one Payment Blockage Period may be commenced with respect to the Securities during any period of 360 consecutive
days. No Event of Default which existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be or be made the basis for the
commencement of any subsequent Payment Blockage Period by the holders of such Designated Senior Indebtedness, unless such Event of Default shall have been cured or waived for a period of not less than 90 consecutive days. 

Upon any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon
any liquidation, dissolution, winding up, receivership, reorganization, assignment for the benefit of creditors, marshalling of assets and liabilities or any bankruptcy, insolvency or similar proceedings of the Company, all amounts due or to become
due upon all Senior Indebtedness shall first be paid in full, in cash or cash equivalents, or payment thereof provided for in accordance with its terms, before any payment is made on account of the Principal of, or interest on the indebtedness
evidenced by the Securities, and upon any such liquidation, dissolution, winding up, receivership, reorganization, assignment, marshalling or proceeding, any payment or distribution of assets of the Company of any kind or character, whether in cash,
property or securities, to which the Holders of the Securities or the Trustee under this Indenture would be entitled, except for the provisions hereof, shall be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee,
agent or other Person making such payment or distribution, directly to the holders of Senior Indebtedness (pro rata to such holders on the basis of the respective amounts of Senior Indebtedness held by such holders) or their respective
representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any of such Senior Indebtedness may have been issued, as their respective interests may appear, to the extent necessary to pay all Senior
Indebtedness in full (including, without limitation, except to the extent, if any, prohibited by mandatory provisions of law, post-petition interest, in any such proceedings), after giving effect to any concurrent payment or distribution to or for
the holders of Senior Indebtedness, before any payment or distribution is made to the holders of the indebtedness evidenced by the Securities or to the Trustee under this Indenture. 

In the event that, notwithstanding the foregoing, any payment or distribution of assets of the Company of any kind or character, whether in
cash, property or securities, prohibited by the foregoing, shall be received by the Trustee under this Indenture or the Holders of the Securities before all Senior Indebtedness is paid in full or provision is made for such payment in accordance with
its terms, such payment or distribution shall be held in trust for the benefit of and shall be paid over or delivered to the holders of such Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture
pursuant to which any instruments evidencing any of such Senior Indebtedness may have been issued, as their respective interests may appear, for application to the payment of all Senior Indebtedness remaining unpaid until all such Senior
Indebtedness shall have been paid in full in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the holders of such Senior Indebtedness. 

For purposes of this Article, the words, “cash, property or securities” shall not be deemed to include shares of stock of the
Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of arrangement, reorganization or readjustment, the payment of 

  
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which is subordinated (at least to the extent provided in this Article with respect to the Securities) to the payment of all Senior Indebtedness which may at the time be
outstanding; provided, that (i) the Senior Indebtedness is assumed by the new corporation, if any, resulting from any such arrangement, reorganization or readjustment, and (ii) the rights of the holders of the Senior
Indebtedness are not, without the consent of such holders, altered by such arrangement, reorganization or readjustment. The consolidation of the Company with, or the merger of the Company into, another corporation or the liquidation or dissolution
of the Company following the sale, conveyance or transfer of all or substantially all of its property and assets to another corporation upon the terms and conditions provided in Article 5 shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section if such other corporation shall, as a part of such consolidation, merger, sale, conveyance or transfer, comply with the conditions stated in
Article VIII. Nothing in this Section shall apply to claims of, or payments to, the Trustee under or pursuant to Article VI. This Section shall be subject to the further provisions of Section 1505. 

Section 1503. Subrogation of Securities.  

Subject to the payment in full of all Senior Indebtedness, the Holders of the Securities shall be subrogated to the rights of the holders of
Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Indebtedness until the principal of and interest on the Securities shall be paid in full; and, for the purposes of such
subrogation, no payments or distributions to the holders of the Senior Indebtedness of any cash, property or securities to which the Holders of the Securities or the Trustee on their behalf would be entitled except for the provisions of this
Article, and no payment over pursuant to the provisions of this Article to the holders of Senior Indebtedness by Holders of the Securities or the Trustee on their behalf shall, as between the Company, its creditors other than holders of Senior
Indebtedness and the Holders of the Securities, be deemed to be a payment by the Company to or on account of the Senior Indebtedness; and no payments or distributions of cash, property or securities to or for the benefit of the Holder of Securities
pursuant to the subrogation provision of this Article, which would otherwise have been paid to the holders of Senior Indebtedness shall be deemed to be a payment by the Company to or for the account of the Securities. It is understood that the
provisions of this Article are and are intended solely for the purpose of defining the relative rights of the holders of the Securities, on the one hand, and the Holders of the Senior Indebtedness, on the other hand. 

Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall impair, as between the Company,
its creditors other than the holders of Senior Indebtedness, and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the Principal of and interest on the
Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Company other than the holders of the Senior
Indebtedness, nor shall anything herein or therein prevent the Holder of any Security or the Trustee on his behalf from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any,
under this Article of the holders of Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. 

Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee, subject to the provisions of Sections 601
and 603, and the holders of the Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such liquidation, dissolution, winding up, receivership, reorganization, assignment or marshalling
proceedings are pending, or a certificate of the receiver, trustee in bankruptcy, liquidating trustee, agent or other person making such payment or distribution, delivered to the Trustee or to the Holders of the Securities, for the purpose of
ascertaining the Persons entitled to participate in such distribution, the holders of the 

  
 63 

 
Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to
this Article. 
 Section 1504. Authorization by Holder of Securities.  

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

Section 1505. Notice to Trustee 

The Company shall give prompt written notice to the Trustee and to any paying agent of any fact known to the Company which would prohibit the
making of any payment of moneys to or by the Trustee or any paying agent in respect of the Securities pursuant to the provisions of this Article or would end such prohibition. Regardless of anything to the contrary contained in this Article or
elsewhere in this Indenture, the Trustee shall not be charged with knowledge of the existence of any Senior Indebtedness or of any default or event of default with respect to any Senior Indebtedness or of any other facts which would prohibit the
making of any payment of moneys to or by the Trustee or which would end such prohibition, unless and until the Trustee shall have received notice in writing at its principal Corporate Trust Office to that effect signed by an Officer of the Company,
or by a holder or agent of a holder of Senior Indebtedness or by the trustee under any indenture pursuant to which Senior Indebtedness shall be outstanding, who shall have been certified by the Company or otherwise established to the reasonable
satisfaction of the Trustee to be such holder or agent or trustee, and, prior to the receipt of any such written notice, the Trustee shall, subject to Sections 601 and 603, be entitled to assume that no such facts exist; provided that if on a date
at least three Business Days prior to the date upon which by the terms hereof any such moneys shall become payable for any purpose (including, without limitation, the payment of the Principal of, or interest on any Security) the Trustee shall not
have received with respect to such moneys the notice of prohibition provided for in this Section, then, regardless of anything herein to the contrary, the Trustee shall have full power and authority to receive such moneys and to apply the same to
the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such prior date. 

Regardless of anything to the contrary herein, nothing shall prevent (a) any payment by the Company or the Trustee to the Holder of
Securities of amounts in connection with a redemption of Securities if (i) notice of such redemption has been given pursuant to Article XI prior to the receipt by the Trustee of written notice of prohibition as aforesaid, and (ii) such
notice of redemption is given not earlier than 60 days before the redemption date, or (b) any payment by the Trustee to the Holder of Securities of amounts deposited with it pursuant to Sections 401 and 1305. 

The Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior
Indebtedness (or a trustee or agent on behalf of such holder) to establish that such notice has been given by a holder of Senior Indebtedness or a trustee or agent on behalf of any such holder. In the event that the Trustee determines in good faith
that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to the
reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person
under this Article, and if such evidence is not furnished the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. 

  
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 Section 1506. Trustee’s Relation to Senior Indebtedness 

The Trustee and any agent of the Company or the Trustee shall be entitled to all the rights set forth in this Article with respect to any
Senior Indebtedness which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Senior Indebtedness and nothing in this Indenture shall deprive the Trustee or any such agent, of any of its
rights as such holder. Nothing in this Article shall apply to claims of, or payments to, the Trustee under or pursuant to Section 607. 

With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and obligations
as are specifically set forth in this Article, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary
duty to the holders of Senior Indebtedness and, subject to the provisions of Sections 601 and 603, the Trustee shall not be liable to any holder of Senior Indebtedness if it shall pay over or deliver to Holders of Securities, the Company or any
other Person moneys or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article or otherwise. 

Section 1507. No Impairment of Subordination 

No right of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be
prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms, provisions and covenants of this Indenture,
regardless of any knowledge thereof which any such holder may have or otherwise be charged with. 

*    *    * 

  
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 This Indenture may be executed in any number of counterparts, each of which so executed
shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
 [Signature pages
follow] 

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

			
	 ROYALTY PHARMA PLC,
as Issuer

		
	By:	 	  

		 	Name: 
		 	Title: 
	
	Royalty Pharma Holdings Ltd., as Initial Guarantor
		
	By:	 	              

		 	Name:
		 	Title:

 Schedule I-1 

 
			
	 Wilmington Trust, National Association, as Trustee

		
	By:	 	  

		 	Name:
		 	Title:

  
 2Exhibit 10.1

 

PURECYCLE TECHNOLOGIES, INC.

NOTICE OF GRANT OF RESTRICTED STOCK UNITS

(Employees)

 

PureCycle Technologies, Inc.
(the “Company”) hereby grants to the Participant the number of Restricted Stock Units (“RSUs”) set
forth below under the PureCycle Technologies, Inc. 2021 Equity and Incentive Compensation Plan (the “Plan”). The RSUs
are subject to all of the terms and conditions in this Notice of Grant of Restricted Stock Units (this “Grant Notice”),
in the Restricted Stock Units Agreement attached hereto (the “Agreement”) and in the Plan. Capitalized terms used,
but not otherwise defined, in this Grant Notice will have the meanings given to such terms in the Plan or Agreement, and the Plan and
the Agreement are hereby incorporated by reference into this Grant Notice. If there are any inconsistences between this Grant Notice or
the Agreement and the Plan, the terms of the Plan shall govern.

 

	Participant:	[Name]
	Type of Grant:	Restricted Stock Units
	Date of Grant:	[Grant Date]
	Number of RSUs:	[#]
	Vesting Schedule:	Subject to the conditions set forth in the Agreement, including but not limited to the Participant’s continuous employment with the Company or a Subsidiary until the applicable vesting date, the RSUs shall vest as follows: the RSUs shall vest in substantially equal installments on each of the first four anniversaries of the Date of Grant.

 

     

     

    

 

PURECYCLE TECHNOLOGIES, INC.

 

Restricted Stock Units Agreement

 

PureCycle Technologies, Inc.
(the “Company”) has granted, pursuant to the PureCycle Technologies, Inc. 2021 Equity and Incentive Compensation Plan
(the “Plan”), to the Participant named in the Notice of Grant of Restricted Stock Units (the “Grant Notice”)
to which this Restricted Stock Units Agreement is attached (together with the Grant Notice, this “Agreement”) an award
of Restricted Stock Units as set forth in such Grant Notice, subject to the terms and conditions set forth in this Agreement.

 

1.            Certain Definitions. Capitalized terms used, but not otherwise defined, in this Agreement will have the meanings
given to such terms in the Plan. As used in this Agreement:

 

		(a)	“Cause” shall mean “Cause” (or a term of substantively similar meaning)
as defined in an individual employment agreement in effect as of the Date of Grant between the Participant and the Company or any Subsidiary
(an “Employment Agreement”) or as set forth in an executive severance plan in which the Participant participates as
of the Date of Grant, if any in each case, or, if the Participant does not have an Employment Agreement or participate in such executive
severance plan as of the Date of Grant (or such Employment Agreement or plan does not define “Cause”), then “Cause”
shall mean (i) the Participant’s commission of, conviction for, or plea of guilty or nolo contendere to, a felony or a crime involving
moral turpitude, or other material act or omission involving dishonesty or fraud, (ii) the Participant’s conduct that results in
or is reasonably likely to result in harm to the reputation or business of the Company or any of its affiliates in any material way, (iii)
the Participant’s failure to perform duties as reasonably directed by the Company or the Participant’s material violation
of any rule, regulation, policy or plan for the conduct of any service provider to the Company or its affiliates or its or their business
(which, if curable, is not cured within 5 days after notice thereof is provided to the Participant) or (iv) the Participant’s gross
negligence, willful malfeasance or material act of disloyalty with respect to the Company or its affiliates (which, if curable, is not
cured within 5 days after notice thereof is provided to the Participant).

 

		(b)	“Company’s Business” means the design, development, manufacture, marketing or
sale of sustainable plastic solutions, recycling technology or related services and any other business that the Company conducts as evidenced
on the Company’s website or marketing materials of the Company.

 

		(c)	“Disability” (or similar terms) shall mean a circumstance in which the Participant
is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can
be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months and otherwise
satisfies the requirements to be disabled under Section 409A of the Code.

 

     

     

    

 

		(d)	“Good Reason” shall have the meaning set forth in the Participant’s Employment
Agreement or set forth in an executive severance plan in which the Participant participates as of the Date of Grant, if any, or, if the
Participant does not have an Employment Agreement or participate in such executive severance plan as of the Date of Grant (or such Employment
Agreement or plan does not define “Good Reason”), then “Good Reason” shall mean the occurrence of any of the following
events without the Participant’s express written consent: (i) an involuntary material reduction in the Participant’s then-current
base salary, (ii) a mandatory relocation of the Participant’s primary work location to a location more than 50 miles from the Participant’s
work location as of the date of this Agreement or (iii) a material breach by the Company of the terms of this Agreement. To terminate
the Participant’s employment for Good Reason, the Participant must provide written notice to the Company of the existence of the
circumstances providing grounds for termination for Good Reason within 90 days of the initial existence of such grounds and the Company
must have at least 30 days from the date on which such notice is provided to cure such circumstances. If the Participant does not terminate
his employment for Good Reason within 30 days after the expiration of the Company’s cure period, then the Participant will be deemed
to have waived his right to terminate for Good Reason with respect to such grounds.

 

		(e)	“Restricted Territory” means: (i) the geographic area(s) within a fifty (50) mile radius
of any and all Company location(s) in, to, or for which the Participant worked, to which the Participant was assigned or had any responsibility
(either direct or supervisory) at the time of termination of the Participant’s employment and at any time during the two (2) year
period prior to such termination; (ii) the United States, and (iii) all of the specific customer accounts, whether within or outside of
the geographic area described in (i) and (ii) above, with which the Participant had any contact or for which the Participant had any responsibility
(either direct or supervisory) at the time of termination of the Participant’s employment and at any time during the two (2) year
period prior to such termination.

 

2.            Grant of RSUs. Subject to and upon the terms, conditions and restrictions set forth in this Agreement and in the
Plan, the Company has granted to the Participant, as of the Date of Grant, the number of RSUs set forth in the Grant Notice. Each RSU
shall represent the right of the Participant to receive one share of Common Stock subject to and upon the terms and conditions of this
Agreement.

 

3.            Restrictions on Transfer of RSUs. Subject to Section 15 of the Plan, neither the RSUs evidenced hereby nor any interest
therein or in the shares of Common Stock underlying such RSUs shall be transferable prior to payment to the Participant pursuant to Section
6 hereof other than by will or pursuant to the laws of descent and distribution.

 

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4.            Vesting of RSUs.

 

		(a)	The RSUs shall vest in accordance with the Vesting Schedule set forth in the Grant Notice (the period
from the Date of Grant until the last applicable vesting date, the “Vesting Period”).
Any RSUs that do not so become vested will be forfeited, including, except as provided in Sections 4(b), 4(c)
or 4(d) below, if the Participant ceases to be continuously employed by the Company or a Subsidiary for any reason prior
to the end of the Vesting Period. For purposes of this Agreement, “continuously employed” (or substantially similar terms)
means the absence of any interruption or termination of the Participant’s employment with the Company or a Subsidiary. Continuous
employment shall not be considered interrupted or terminated in the case of transfers between locations of the Company and its Subsidiaries.

 

		(b)	Notwithstanding Section 4(a) above, upon the Participant’s death or Disability, in
each case prior to the end of the Vesting Period, the RSUs shall vest in full.

 

		(c)	Notwithstanding Section 4(a) above, upon any termination of the Participant’s employment
as a result of a termination by the Company or a Subsidiary without Cause or by the Participant for Good Reason prior to the end of the
Vesting Period, a pro rata portion of the RSUs shall vest, with such pro-rata portion determined by multiplying (i) the total number of
RSUs by (ii) a fraction, the numerator of which is the number of calendar days that shall have elapsed from the Date of Grant until the
date of such termination and the denominator of which is the number of calendar days in the full Vesting Period, and subtracting from
such amount the number of RSUs (if any) that previously vested.

 

		(d)	Notwithstanding Section 4(a) above, in the event of a Change in Control that occurs prior
to the end of the Vesting Period, the RSUs shall become vested and payable in accordance with Section 5 below.

 

	5.	Effect of a Change in Control.

 

		(a)	Notwithstanding Section 4(a) above, if at any time before the end of the Vesting Period
or forfeiture of the RSUs, and while the Participant is continuously employed by the Company or a Subsidiary, a Change in Control occurs,
then all of the RSUs will become vested, except to the extent that a Replacement Award is provided to the Participant in accordance with
Section 5(b) to continue, replace or assume the RSUs covered by this Agreement (the “Replaced Award”)
immediately prior to (and contingent upon) the Change in Control.

 

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		(b)	For purposes of this Agreement, a “Replacement Award” means an award (i) of the same
type (e.g., time-based restricted stock units) as the Replaced Award, (ii) that has a value at least equal to the value of the
Replaced Award, (iii) that relates to publicly traded equity securities of the Company or its successor in the Change in Control or another
entity that is affiliated with the Company or its successor following the Change in Control, (iv) if the Participant holding the Replaced
Award is subject to U.S. federal income tax under the Code, the tax consequences of which to such Participant under the Code are not less
favorable to such Participant than the tax consequences of the Replaced Award, and (v) the other terms and conditions of which are not
less favorable to the Participant holding the Replaced Award than the terms and conditions of the Replaced
Award (including the provisions that would apply in the event of a subsequent termination of employment or Change in Control). A Replacement
Award may be granted only to the extent it does not result in the Replaced Award or Replacement Award failing to comply with or be exempt
from Section 409A of the Code. Without limiting the generality of the foregoing, the Replacement Award may take the form of a continuation
of the Replaced Award if the requirements of the two preceding sentences are satisfied. The determination of whether the conditions of
this paragraph are satisfied will be made by the Board or Committee, as constituted immediately before the Change in Control, in its sole
discretion.

 

		(c)	If, within 12 months after receiving a Replacement Award, the Participant experiences a termination of
employment with the Company or a Subsidiary (or any of their successors) (as applicable, the “Successor”) by reason
of a termination by the Successor without Cause or by the Participant for Good Reason during the remaining vesting period for the Replacement
Award, the Replacement Award shall immediately vest.

 

6.            Form and Time of Payment of RSUs.

 

		(a)	Payment for the RSUs, after and to the extent they have become vested, shall be made in the form of one
share of Common Stock for each vested RSU. Payment shall be made as soon as administratively practicable following (but no later than
thirty (30) days following) the date that the RSUs become vested pursuant to Section 4 hereof.

 

		(b)	[In all events, payment for the RSUs (to the extent vested) shall be made within the short-term deferral
period for purposes of Section 409A of the Code.]

 

		(c)	The Company’s obligations to the Participant with respect to the RSUs will be satisfied in full
upon the issuance of shares of Common Stock corresponding to such RSUs.

 

7.            Dividend Equivalents; Voting and Other Rights.

 

		(a)	The Participant shall have no rights of ownership in the shares of Common Stock underlying the RSUs and
no right to vote the shares of Common Stock underlying the RSUs until the date on which the shares of Common Stock underlying the RSUs
are issued or transferred to the Participant pursuant to Section 6 above.

 

		(b)	[From and after the Date of Grant and until the earlier of (i) the time when the RSUs become vested and
are paid in accordance with Section 6 hereof and (ii) the time when the Participant’s right to receive shares of Common
Stock in payment of the RSUs is forfeited in accordance with Section 4 hereof, on the date that the Company pays a cash
dividend (if any) to holders of shares of Common Stock generally, the Participant shall be credited with cash per RSU equal to the amount
of such dividend. Any amounts credited pursuant to the immediately preceding sentence shall be subject to the same applicable terms and
conditions (including vesting, payment and forfeitability) as
apply to the RSUs based on which the dividend equivalents were credited, and such amounts shall be paid in cash at the same time as the
RSUs to which they relate are settled.

 

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		(c)	The obligation of the Company under this Agreement will be merely that of an unfunded and unsecured promise
of the Company to deliver shares of Common Stock in the future, and the rights of the Participant will be no greater than that of an unsecured
general creditor. No assets of the Company will be held or set aside as security for the obligations of the Company under this Agreement.

 

8.            Adjustments. The number of shares of Common Stock issuable for each RSU and the other terms and conditions of the
grant evidenced by this Agreement are subject to mandatory adjustment, including as provided in Section 11 of the Plan.

 

9.            Taxes. To the extent that the Company is required to withhold federal, state, local, or foreign taxes or other amounts
in connection with any payment made or benefit realized by the Participant under this Agreement, and the amounts available to the Company
for such withholding are insufficient, it shall be a condition to the receipt of such payment or the realization of such benefit that
the Participant make arrangements satisfactory to the Company for payment of the balance of such taxes or other amounts required to be
withheld. If the Participant’s benefit is to be received in the form of shares of Common Stock, then, unless otherwise determined
by the Committee, the Company will withhold shares of Common Stock having a value equal to the amount required to be withheld. The shares
of Common Stock used for tax or other withholding will be valued at an amount equal to the fair market value of such shares of Common
Stock on the date the benefit is to be included in the Participant’s income. In no event will the market value of Common Stock to
be withheld pursuant to this Section 9 to satisfy applicable withholding taxes or other amounts exceed the minimum amount
of taxes required to be withheld. Notwithstanding any other provision of this Agreement, the Company shall not be obligated to guarantee
any particular tax result for the Participant with respect to any payment provided to the Participant hereunder, and the Participant shall
be responsible for any taxes imposed on the Participant with respect to any such payment.

 

10.          Compliance with Law.

 

		(a)	The Company shall make reasonable efforts to comply with all applicable federal and state securities laws;
provided, however, that notwithstanding any other provision of the Plan and this Agreement, the Company shall not be obligated
to issue any shares of Common Stock pursuant to this Agreement if the issuance thereof would result in a violation of any such law.

 

		(b)	Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement prevents the Participant
from providing, without prior notice to the Company, information to governmental authorities regarding possible legal violations or otherwise
testifying or participating in any investigation or proceeding by any governmental authorities regarding possible legal violations, and
for purpose of clarity the Participant is not prohibited from providing information voluntarily to the Securities and Exchange Commission
pursuant to Section 21F of the Exchange Act.

 

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11.          Compliance With Section 409A of the Code. To the extent applicable, it is intended that this Agreement and the Plan
comply with or be exempt from the provisions of Section 409A of the Code. This Agreement and the Plan shall be administered in a manner
consistent with this intent, and any provision that would cause this Agreement or the Plan to fail to satisfy Section 409A of the Code
shall have no force or effect until amended to comply with Section 409A of the Code (which amendment may be retroactive to the extent
permitted by Section 409A of the Code and may be made by the Company without the consent of the Participant). Notwithstanding the foregoing,
the Company is not guaranteeing any particular tax outcome, and the Participant shall remain solely liable for any and all tax consequences
associated with the RSUs.

 

12.          Competitive Activity; Non-Solicitation; Confidentiality.

 

		(a)	Acknowledgements and Agreements. The Participant hereby acknowledges and agrees that in the performance
of Participant’s duties to the Company, the Participant shall be brought into frequent contact with existing and potential customers
of the Company throughout the world. The Participant also agrees that trade secrets and confidential information of the Company, more
fully described in Section 12(e)(i), gained by the Participant during the Participant’s association with the
Company, have been developed by the Company through substantial expenditures of time, effort and money and constitute valuable and unique
property of the Company. The Participant further understands and agrees that the foregoing makes it necessary for the protection of the
Company’s business that the Participant not compete with the Company during the Participant’s employment with the Company
and not compete with the Company for a reasonable period thereafter, as further provided in the following subparagraphs. In consideration
of the Participant’s receipt of the RSUs and the confidential information described herein, the Participant agrees to the restrictive
covenants in this Section 12.

 

		(b)	Covenants.

 

		(i)	Covenants During Employment. While employed by the Company, the Participant shall not compete with
the Company anywhere in the world. In accordance with this restriction, but without limiting its terms, while employed by the Company,
the Participant shall not:

 

		(A)	create, establish, enter into, be employed by or engage in any manner, either directly or indirectly,
in any business which competes with the Company’s business;

 

		(B)	solicit customers, business, patronage or orders for, or sell, any products or services in competition
with, or for any business that competes with, the Company’s business;

 

		(C)	divert, entice or otherwise take away any customers, vendors, business, patronage or orders of the Company
or attempt to do so; or

 

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		(D)	promote or assist, financially or otherwise, any person, firm, association, partnership, corporation or
other entity engaged in any business which competes with the Company’s business.

 

		(ii)	Covenants Following Termination. For a period of two (2) years following the termination of the
Participant’s employment for any reason, the Participant shall not:

 

		(A)	accept employment from, enter into or engage in any business which competes with the Company’s Business
within the Restricted Territory;

 

		(B)	solicit customers, business, patronage or orders for, or sell, any products and services in competition
with, or for any business, wherever located, that competes with, the Company’s Business within the Restricted Territory;

 

		(C)	divert, entice or otherwise take away any customers, business, patronage or orders of the Company within
the Restricted Territory, or attempt to do so; or

 

		(D)	promote or assist, financially or otherwise, any person, firm, association, partnership, corporation or
other entity engaged in any business which competes with the Company’s Business within the Restricted Territory.

 

		(iii)	Indirect Competition. For the purposes of Section 12(b)(i) and (ii)
inclusive, but without limitation thereof, the Participant shall be in violation thereof if the Participant engages in any or all of the
activities set forth therein directly as an individual on the Participant’s own account, or indirectly as a partner, joint venturer,
employee, agent, salesperson, consultant, officer and/or director of any firm, association, partnership, corporation or other entity,
or as a stockholder of any corporation in which the Participant or the Participant’s spouse, child or parent owns, directly or indirectly,
individually or in the aggregate, more than five percent (5%) of the outstanding stock.

 

		(iv)	If it shall be judicially determined that the Participant has violated this Section 12(b),
then the period applicable to each obligation that the Participant shall have been determined to have violated shall automatically be
extended by a period of time equal in length to the period during which such violation(s) occurred.

 

		(c)	The Company. For purposes of this Section 12, the Company shall include any
and all direct and indirect subsidiary, parent, affiliated or related companies of the Company for which the Participant worked or had
responsibility at the time of termination of the Participant’s employment and at any time during the two (2) year period prior to
such termination.

 

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		(d)	Non-Solicitation. The Participant shall not, directly or indirectly, at any time, during the period
of the Participant’s employment or for one year thereafter, attempt to disrupt, damage, impair or interfere with the Company’s
business by raiding any of the Company’s employees or soliciting any of them to resign from their employment with the Company, or
by disrupting the relationship between the Company and any of its consultants, agents or representatives. The Participant acknowledges
that this covenant is necessary to enable the Company to maintain a stable workforce and remain in business.

 

		(e)	Further Covenants.

 

		(i)	The Participant shall keep in strict confidence, and shall not, directly or indirectly, at any time, during
or after the Participant’s employment with the Company, disclose, furnish, disseminate, make available or, except in the course
of performing the Participant’s duties of employment, use any trade secrets or confidential business and technical information of
the Company or its customers or vendors, without limitation as to when or how the Participant may have acquired such information. With
respect to materials that are trade secrets, the protection shall last for so long as the materials remain trade secrets as defined by
law. For the remainder of the confidential information, the protection shall last for 20 years post-termination. Such confidential information
shall include, without limitation, the Company’s unique selling, manufacturing and servicing methods and business techniques, plant
schematics and operating manuals, training, service and business manuals, promotional materials, training courses and other training and
instructional materials, vendor and product information, customer and prospective customer lists, other customer and prospective customer
information, strategic business plans, systems designs and other business information. The Participant specifically acknowledges that
all such confidential information, whether reduced to writing, maintained on any form of electronic media or maintained in the mind or
memory of the Participant, and whether compiled by the Company and/or the Participant, derives independent economic value from not being
readily known to or ascertainable by proper means by others who can obtain economic value from its disclosure or use, that reasonable
efforts have been made by the Company to maintain the secrecy of such information, that such information is the sole property of the Company
and that any retention and use of such information by the Participant during the Participant’s employment with the Company (except
in the course of performing the Participant’s duties and obligations to the Company) or after the termination of the Participant’s
employment shall constitute a misappropriation of the Company’s trade secrets.

 

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		(ii)	The U.S. Defend Trade Secrets Act of 2016 (“DTSA”) provides that an individual shall
not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (A) is
made in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney, and solely
for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a
lawsuit or other proceeding, if such filing is made under seal. In addition, the DTSA provides that an individual who files a lawsuit
for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual
and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal
and does not disclose the trade secret, except pursuant to court order.

 

		(iii)	The Participant agrees that upon termination of the Participant’s employment with the Company for
any reason, the Participant shall return to the Company, in good condition, all property of the Company, including, without limitation,
the originals and all copies of any materials which contain, reflect, summarize, describe, analyze or refer or relate to any items of
information listed in Section 12(e)(i) of this Agreement. In the event that such items are not so returned, the Company
shall have the right to charge the Participant for all reasonable damages, costs, attorneys’ fees and other expenses incurred in
searching for, taking, removing and/or recovering such property.

 

		(f)	Discoveries and Inventions; Work Made for Hire.

 

		(i)	The Participant agrees that upon conception and/or development of any idea, discovery, invention,
                                                             improvement, software, writing or other material or design that: (A) relates to the business of the Company, or
                                                             (B) relates to the Company’s actual or demonstrably anticipated research or development, or (C) results from any
                                                             work performed by the Participant for the Company, the Participant does hereby assign to the Company the entire right, title and
                                                             interest in and to any such idea, discovery, invention, improvement, software, writing or other material or design. The Participant
                                                             has no obligation to assign any idea, discovery, invention, improvement, software, writing or other material or design that the
                                                             Participant conceives and/or develops entirely on the Participant’s own time without using the Company’s equipment,
                                                             supplies, facilities, or trade secret information unless the idea, discovery, invention, improvement, software, writing or other
                                                             material or design: (x) relates to the business of the Company, or (y) relates to the Company’s actual or
                                                             demonstrably anticipated research or development, or (z) results from any work performed by the Participant for the Company.
                                                             The Participant agrees that any idea, discovery, invention, improvement, software, writing or other material or design that relates
                                                             to the business of the Company or relates to the Company’s actual or demonstrably anticipated research or development which is
                                                             conceived or suggested by the Participant, either solely or jointly with others, within one (1) year following the termination of
                                                             the Participant’s employment shall be presumed to have been so made, conceived or suggested in the course of such employment with the use of the
Company’s equipment, supplies, facilities, and/or trade secrets.

 

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		(ii)	In order to determine the rights of the Participant and the Company in any idea, discovery, invention,
improvement, software, writing or other material, and to insure the protection of the same, the Participant agrees that during the Participant’s
employment, and for two (2) years after the termination of the Participant’s employment, the Participant shall disclose immediately
and fully to the Company any idea, discovery, invention, improvement, software, writing or other material or design conceived, made or
developed by the Participant solely or jointly with others. The Company agrees to keep any such disclosures confidential. The Participant
also agrees to record descriptions of all work in the manner directed by the Company and agrees that all such records and copies, samples
and experimental materials shall be the exclusive property of the Company. The Participant agrees that at the request of and without charge
to the Company, but at the Company’s expense, the Participant shall execute a written assignment of the idea, discovery, invention,
improvement, software, writing or other material or design to the Company and shall assign to the Company any application for letters
patent or for trademark registration made thereon, and to any common-law or statutory copyright therein; and that Participant shall do
whatever may be necessary or desirable to enable the Company to secure any patent, trademark, copyright, or other property right therein
in the United States and in any foreign country, and any division, renewal, continuation, or continuation in part thereof, or for any
reissue of any patent issued thereon. In the event the Company is unable, after reasonable effort, and in any event after ten (10) business
days, to secure the Participant’s signature on a written assignment to the Company of any application for letters patent or to any
common-law or statutory copyright or other property right therein, whether because of the Participant’s physical or mental incapacity
or for any other reason whatsoever, the Participant irrevocably designates and appoints the Corporate Secretary of the Company as the
Participant’s attorney-in-fact to act on the Participant’s behalf to execute and file any such application and to do all other
lawfully permitted acts to further the prosecution and issuance of such letters patent, copyright or trademark.

 

		(iii)	The Participant acknowledges that, to the extent permitted by law, all work papers, reports, documentation,
drawings, photographs, negatives, tapes and masters thereof, prototypes and other materials (hereinafter, “items”), including
without limitation, any and all such items generated and maintained on any form of electronic media, generated by the Participant during
the Participant’s employment with the Company shall be considered a “work made for hire” and that ownership of any and
all copyrights in any and all such items shall belong to the Company. The item shall recognize the Company as the copyright owner, shall
contain all proper copyright notices, e.g., “(creation date) PureCycle Technologies, Inc., All Rights Reserved,” and shall be in condition
to be registered or otherwise placed in compliance with registration or other statutory requirements throughout the world.

 

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		(g)	Communication of Contents of Agreement. While employed by the Company and for two (2) years thereafter,
the Participant shall communicate the contents of Section 12 of this Agreement to any person, firm, association, partnership,
corporation or other entity that the Participant intends to be employed by, associated with or represent.

 

		(h)	Confidentiality Agreements. The Participant agrees that the Participant shall not disclose to the
Company or induce the Company to use any secret or confidential information belonging to the Participant’s former employers. The
Participant warrants that the Participant is not bound by the terms of a confidentiality agreement or other agreement with a third party
that would preclude or limit the Participant’s right to work for the Company and/or to disclose to the Company any ideas, inventions,
discoveries, improvements or designs or other information that may be conceived during employment with the Company. The Participant agrees
to provide the Company with a copy of any and all agreements with a third party that preclude or limit the Participant’s right to
make disclosures or to engage in any other activities contemplated by the Participant’s employment with the Company.

 

		(i)	Relief. The Participant acknowledges and agrees that the remedy at law available to the Company
for breach of any of the Participant’s obligations under this Agreement would be inadequate. The Participant therefore agrees that,
in addition to any other rights or remedies that the Company may have at law or in equity, temporary and permanent injunctive relief may
be granted in any proceeding which may be brought to enforce any provision contained in Sections 12(b), 12(d),
12(e), 12(f), 12(g) and 12(h) inclusive, of this Agreement, without the necessity
of proof of actual damage.

 

		(j)	Reasonableness. The Participant acknowledges that the Participant’s obligations under this
Section 12 are reasonable in the context of the nature of the Company’s Business and the competitive injuries
likely to be sustained by the Company if the Participant were to violate such obligations. The Participant further acknowledges that this
Agreement is made in consideration of, and is adequately supported by, the agreement of the Company to perform its obligations under this
Agreement and by other consideration, which the Participant acknowledges constitutes good, valuable and sufficient consideration.

 

		(k)	Other Acknowledgements. The restrictions in this Section 12 do not supersede,
and are in addition to, restrictive covenants contained in any other form of agreement, such as an employment agreement, between the Company
and the Participant, to the extent enforceable pursuant to the terms of the other agreement. Nothing in this Agreement prevents the Participant
from providing, without prior notice to the Company, information to governmental authorities regarding possible legal violations or otherwise testifying
or participating in any investigation or proceeding by any governmental authorities regarding possible legal violations.

 

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		(l)	Prevailing Party’s Litigation Expenses. In the event of litigation between the Company and
the Participant related to this Section 12, the non-prevailing party shall reimburse the prevailing party for any costs
and expenses (including, without limitation, attorneys’ fees) reasonably incurred by the prevailing party in connection therewith.

 

13.          Survival. Subject to any limits on applicability contained therein, Section 12 shall survive and
continue in full force in accordance with its terms notwithstanding any termination of the Participant’s employment or the vesting
or forfeiture of this award.

 

14.          Interpretation. Any reference in this Agreement to Section 409A of the Code will also include any proposed, temporary
or final regulations, or any other guidance, promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal
Revenue Service.

 

15.          No Right to Future Awards or Employment. The grant of the RSUs under this Agreement to the Participant is a voluntary,
discretionary award being made on a one-time basis and it does not constitute a commitment to make any future awards. The grant of the
RSUs and any payments made hereunder will not be considered salary or other compensation for purposes of any severance pay or similar
allowance, except as otherwise required by law. Nothing contained in this Agreement shall confer upon the Participant any right to be
employed or remain employed by the Company or any of its Subsidiaries, nor limit or affect in any manner the right of the Company or any
of its Subsidiaries to terminate the employment or adjust the compensation of the Participant.

 

16.          Relation to Other Benefits. Any economic or other benefit to the Participant under this Agreement or the Plan shall
not be taken into account in determining any benefits to which the Participant may be entitled under any other compensatory arrangement
maintained by the Company or any of its Subsidiaries.

 

17.          Amendments. Any amendment to the Plan shall be deemed to be an amendment to this Agreement to the extent that the
amendment is applicable hereto; provided, however, that no amendment shall adversely affect the rights of the Participant
under this Agreement without the Participant’s written consent, and the Participant’s consent shall not be required to an
amendment that is deemed necessary by the Company to ensure compliance with Section 409A of the Code or Section 10D of the Exchange Act.

 

18.          Severability. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason
by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and
the remaining provisions hereof shall continue to be valid and fully enforceable.

 

19.          Relation
to Plan. The RSUs granted under this Agreement and all of the terms and conditions hereof are subject to all of the terms
and conditions of the Plan. In the event of any inconsistency between this Agreement and the Plan, the terms of the Plan will
govern. The Committee acting pursuant to the Plan, as constituted from time to time, shall, except as expressly provided otherwise
herein or in the Plan, have the right to determine any questions which arise in connection with this Agreement.

 

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20.          Clawback. Notwithstanding anything in this Agreement to the contrary, the Participant acknowledges and agrees that
this Agreement and the award described herein are subject to the terms and conditions of the Company’s clawback policy (if any)
as may be in effect from time to time specifically to implement Section 10D of the Exchange Act and any applicable rules or regulations
promulgated thereunder (including applicable rules and regulations of any national securities exchange on which the Common Stock may be
traded).

 

21.          Electronic Delivery. The Company may, in its sole discretion, deliver any documents related to the RSUs and the Participant’s
participation in the Plan, or future awards that may be granted under the Plan, by electronic means or request the Participant’s
consent to participate in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery
and, if requested, agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company
or another third party designated by the Company.

 

22.          Choice of Law; Venue. This Agreement shall be governed by and construed with the internal substantive laws of the
State of Delaware, without giving effect to any principle of law that would result in the application of the law of any other jurisdiction.
In addition, the Participant agrees that the state and federal courts located in the state of Florida shall have jurisdiction in any action,
suit or proceeding against the Participant based on or arising out of this Agreement and the Participant hereby: (a) submits to the personal
jurisdiction of such courts; (b) consents to service of process in connection with any action, suit or proceeding against the Participant;
and (c) irrevocably waives any other requirement (whether imposed by statute, rule of court or otherwise) or any objection which the Participant
now or hereafter may have with respect to personal jurisdiction, venue or service of process.

 

23.          Successors and Assigns. Without limiting Section 3 hereof, the provisions of this Agreement shall inure
to the benefit of, and be binding upon, the successors, administrators, heirs, legal representatives and assigns of the Participant, and
the successors and assigns of the Company.

 

24.          Acknowledgement. The Participant acknowledges that the Participant (a) has received a copy of the Plan, (b) has had
an opportunity to review the terms of this Agreement and the Plan, (c) understands the terms and conditions of this Agreement and the
Plan and (d) agrees to such terms and conditions.

 

25.          Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an
original but all of which together will constitute one and the same agreement.

 

[Signatures on following page]

 

    13

     

    

 

IN WITNESS WHEREOF, the undersigned have executed
this Agreement on the day and year indicated below.

 

	 	PURECYCLE TECHNOLOGIES, INC.
	 	 
	 	By:	                           

 

	 	Name:	 

	 	Title:	 

	 	Date:	                           
	 	 
	 	Participant Acknowledgment and Acceptance

 

	 	By:	 

 

	 	Print Name:	 

	 	Date:

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