Document:

Exhibit

Exhibit 10.2

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT
This First Amendment to Second Amended and Restated Credit Agreement (this “First Amendment”) is made as of December 16, 2016 to that certain Second Amended and Restated Credit Agreement dated as of October 6, 2014 (together with any modifications or amendments thereto, collectively, the “Agreement”) by and among:
SPECIALTY RETAILERS, INC., a Texas corporation (“Borrower”);
STAGE STORES, INC., a Nevada corporation (“Parent”);
WELLS FARGO BANK, NATIONAL ASSOCIATION, as the Administrative Agent and Collateral Agent for the Lenders (collectively, the “Agents”); and
The LENDERS who are parties to the Agreement.
BACKGROUND:
The Loan Parties have requested that the Agents and the Lenders amend certain provisions of the Agreement, and the Agents and the Lenders have agreed to do so as set forth herein.  Accordingly, it is hereby agreed as follows:
		
	1.
	Definitions.  All capitalized terms used in this First Amendment and not otherwise defined shall have the same meanings herein as in the Agreement.

		
	2.
	New Definitions.  Section 1.01 of the Agreement is hereby amended by inserting the following new definitions in their appropriate alphabetical order:

		
	(a)
	“ “Anti-corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to Parent or its Subsidiaries concerning or relating to bribery or corruption, including the United States Foreign Corrupt Practices Act of 1977.”

		
	(b)
	“ “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.”

		
	(c)
	“ “Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule.”

		
	(d)
	“ “EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an

EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.”

		
	(e)
	“ “EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.”

		
	(f)
	“ “EEA Resolution Authority” means any public administrative authority or any Person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.”

		
	(g)
	“ “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time.”

		
	(h)
	“ “First Amendment Effective Date” means December 16, 2016.”

		
	(i)
	“ “First Amendment Fee Letter” means that certain fee letter, dated as of the First Amendment Effective Date, between the Borrower and Administrative Agent.”

		
	(j)
	“ “Increased Pro Forma Availability Condition” shall mean, for any date of calculation with respect to any payment, the Pro Forma Excess Availability following, and after giving effect to, such transaction or payment, will be equal to or greater than twenty-five percent (25%) of the Loan Cap.”

		
	(k)
	“ “OFAC” means the Office of Foreign Assets Control of the United States Department of Treasury.”

		
	(l)
	“ “Sanctioned Entity” means (a) a country or a government of a country, (b) an agency of the government of a country, (c) an organization directly or indirectly controlled by a country or its government, or (d) a Person resident in or determined to be resident in a country, in each case of clauses (a) through (d) that is the subject of Sanctions, including the subject of any country sanctions program administered and enforced by OFAC.”

		
	(m)
	“ “Sanctioned Person” means, at any time, (a) any a Person named on the list of Specially Designated Nationals and Blocked Persons maintained by OFAC, or any other Sanctions-related list maintained by any relevant Sanctions authority, (b) a Person or legal entity that is the subject of Sanctions, (c) any Person operating, organized or resident in a Sanctioned Entity, or (d) any Person directly or indirectly owned or controlled (individually or in the aggregate) by or acting on behalf of any such Person or Persons described in clauses (a) through (c) above.”

-2-

		
	(n)
	“ “Sanction(s)” means individually and collectively, respectively, any and all economic, trade, financial or other sanctions laws, regulations or embargoes imposed, administered or enforced from time to time by:  (a) the United States of America, including, without limitation, those administered by OFAC and/or the U.S. Department of State, (b) the United Nations Security Council, (c) the European Union or any European Union member state, (d) Her Majesty’s Treasury of the United Kingdom, or (d) any other governmental authority in any jurisdiction in which any Loan Party or any of its Subsidiaries is located or doing business.”

		
	(o)
	“ “Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.”

		
	3.
	Amended Definitions.  Section 1.01 of the Agreement is further amended by amending the following definitions, as follows:

		
	(a)
	Adjusted Total Commitments.  The definition of “Adjusted Total Commitments” is hereby deleted and the following is inserted in its stead:

“ “Adjusted Total Commitments” shall mean, at any time, the sum of (i) Ordinary Commitments (as set forth on Schedule 1.1) for each Lender, subject to possible increase pursuant to Section 2.02, plus (ii) the Seasonal Commitment Increased Utilized Amount.”
		
	(b)
	Cash Dominion Event.  The definition of “Cash Dominion Event” is hereby amended by deleting the references to “$25,000,000” in each instance where it appears and substituting “$35,000,000” in its stead.

		
	(c)
	Covenant Compliance Event.  The definition of “Covenant Compliance Event” is hereby amended by deleting the references to “$25,000,000” in each instance where it appears and substituting “$35,000,000” in its stead.  Additionally, the last sentence of the definition of “Covenant Compliance Event” is deleted and the following is inserted in its stead:

“ “The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive, or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition arise again.”
		
	(d)
	Deteriorating Lender.  The definition of “Deteriorating Lender” is hereby amended by inserting the following provision as a new subclause (f) thereto:

“or (f) is the subject of a Bail-In Action.”

-3-

		
	(e)
	Fee Letter.  The definition of “Fee Letter” is hereby deleted in its entirety and the following is inserted in its stead:

“ “Fee Letter” means collectively, (i) means the letter entitled “Fee Letter” among the Borrower and the Administrative Agent dated as of the Effective Date, and (ii) the First Amendment Fee Letter, as each such letter may from time to time be amended.”
		
	(f)
	Letter of Credit Sublimit.  The first sentence of the definition of “Letter of Credit Sublimit” is hereby deleted in its entirety and the following is inserted in its stead:

“ “Letter of Credit Sublimit” means an amount equal to $25,000,000.”  
		
	(g)
	Maturity Date.  The definition of “Maturity Date” is hereby deleted in its entirety and the following is substituted in its stead:

“ “Maturity Date” means December 16, 2021.”
		
	(h)
	Payment Conditions.  The definition of “Payment Conditions” is hereby deleted in its entirety and the following is inserted in its stead:

“ “Payment Conditions” means, at the time of determination, that (a) no Default or Event of Default then exists or would arise as a result of the making of the subject payment and (b) after giving effect to such payment, either (1) (i) the Pro Forma Availability Condition has been satisfied and (ii) the Consolidated Fixed Charge Coverage Ratio, as calculated on a pro-forma basis for the twelve months prior to such payment, will be equal to or greater than 1.0:1.0, or (2) the Increased Pro Forma Availability Condition has been satisfied.  Prior to undertaking any payment which is subject to the Payment Conditions, the Loan Parties shall deliver to the Administrative Agent and the Lenders evidence of satisfaction of the conditions contained in clause (b) above on a basis (including, without limitation, giving due consideration to results for prior periods) reasonably satisfactory to the Administrative Agent; provided that, so long as Excess Availability is equal to or greater than fifty percent (50%) of the Loan Cap, the Loan Parties shall not be required to deliver to the Administrative Agent and the Lenders evidence of satisfaction of the conditions contained in clause (b) above with respect to the repurchase of the equity interests of the Parent on the open market in the ordinary course of business (the “Ordinary Course Stock Buybacks”); provided further that, nothing herein shall be deemed a waiver of the requirements set forth in clauses (a) and (b) above as a condition to the Parent making any Ordinary Course Stock Buybacks, and the making of any Ordinary Course Stock Buybacks shall be deemed a representation and warranty by the Loan parties that such requirements have been complied with.”
		
	(i)
	Total Commitments.  The definition of “Total Commitments” is hereby deleted in its entirety and the following is inserted in its stead:

-4-

“ “Total Commitments” shall mean, at any time, the sum of the applicable Commitments at such time as set forth on Schedule 1.1, subject to possible increase pursuant to Section 2.02.  As of the First Amendment Effective Date, the Total Commitments aggregate $450,000,000.”
		
	4.
	Additional Amendments to the Agreement

		
	(a)
	Section 2.02 of the Agreement is hereby amended by deleting the reference to “$450,000,000” in each instance where it appears and substituting “$550,000,000” in its stead.

		
	(b)
	Article III of the Agreement (Representations and Warranties) is hereby amended by inserting the following as a new SECTION 3.18:

“SECTION 3.18. OFAC and Anti-Corruption Laws.  No Loan Party nor any of its Subsidiaries is the subject or target of any Sanctions.  No Loan Party nor any of its Subsidiaries nor, to the knowledge of such Loan Party, any director, officer, employee, agent or Affiliate of such Loan Party or such Subsidiary (a) is a Sanctioned Person or a Sanctioned Entity, (b) has any assets located in Sanctioned Entities, or (c) derives revenues from investments in Sanctioned Persons or Sanctioned Entities.  Each of the Loan Parties and its Subsidiaries has implemented and maintains in effect policies and procedures, in the Loan Parties’ reasonable business judgment, designed to promote and achieve compliance by the Loan Parties and their Subsidiaries with the Anti-corruption Laws.  Each of the Loan Parties and its Subsidiaries have conducted their business in material compliance with the Anti-corruption Laws.”
		
	(c)
	Section 5.09(b) of the Agreement (Books and Records; Inspection and Audit Rights; Appraisals; Accountants) is hereby amended by deleting the words “fifty percent (50%) of the Loan Cap” where they appear in the proviso and substituting “twenty-five percent (25%) of the Loan Cap” in their stead.

		
	(d)
	Section 5.12 of the Agreement (Use of Proceeds and Letters of Credit) is hereby amended by inserting the following provision at the end thereof:

“The Loan Parties will not, directly or, to their knowledge, indirectly, use the proceeds of any loan made or Letter of Credit issued hereunder in a violation of Anti-corruption Laws or any applicable Sanction.”
		
	(e)
	Section 6.01(a) of the Agreement (Indebtedness and Other Obligations) is hereby amended as follows:

		
	(i)
	Subclause (iv) thereof is hereby restated in its entirety as follows:

“(iv) Indebtedness of any Loan Party (A) to finance the acquisition of any fixed or capital assets, including Capital Lease Obligations, (B) incurred pursuant to a financing of any fixed or capital assets which are owned and unencumbered at the time of such financing, and (C) assumed in connection with the acquisition of any such assets or secured 

-5-

by a Lien on any such assets prior to the acquisition thereof, and extensions, renewals and replacements of any of the foregoing Indebtedness that do not increase the outstanding principal amount thereof or result in an earlier maturity date or decreased weighted average life thereof, provided that the aggregate principal amount of Indebtedness permitted by this clause (iv) shall not exceed $100,000,000 at any time outstanding;”
		
	(ii)
	Subclause (viii) thereof is hereby restated in its entirety as follows:

“(viii) Indebtedness incurred to finance insurance premiums in the ordinary course of business;”
		
	(f)
	Section 9.01 of the Agreement (Notices) is hereby amended by deleting subsections (a) and (b) thereof in their entirety, and substituting the following in their stead:

“ “(a) if to any Loan Party, to it at 2425 West Loop South, Houston Texas 77027, Attention:  Chief Financial Officer (Telecopy No. (713) 300‐0923), with a copy to the attention of the Chief Legal Officer of the Loan Party at the same mailing address (emailed to LegalNotices@StageStores.com);
“ “(b) if to the Administrative Agent or the Collateral Agent, or the Swingline Lender to Wells Fargo Bank, National Association, One Boston Place, Boston, Massachusetts 02108, Attention:  Mr. Jai Alexander (Telecopy No. (855) 735‐2006), with a copy to Riemer & Braunstein LLP, Three Center Plaza, Boston, Massachusetts 02108, Attention: Kevin M. Murtagh, Esquire (Telecopy No. (617) 692‐3437);”
		
	(g)
	Section 9.16 of the Agreement (Foreign Asset Control Regulations) is hereby amended by inserting the following provision at the end thereof:

“No Loan Party nor any of its Subsidiaries nor, to the knowledge of such Loan Party, any director, officer, employee, agent or Affiliate of such Loan Party or such Subsidiary (a) is a Sanctioned Person or a Sanctioned Entity, (b) has any assets located in Sanctioned Entities, or (c) derives revenues from investments in Sanctioned Persons or Sanctioned Entities.  Each of the Loan Parties and its Subsidiaries has implemented and maintains in effect policies and procedures, in the Loan Parties’ reasonable business judgment, designed to promote and achieve compliance by the Loan Parties and their Subsidiaries with the Anti-corruption Laws.  Each of the Loan Parties and its Subsidiaries have conducted their business in material compliance with the Anti-corruption Laws.”
		
	(h)
	The Agreement is hereby amended by adding the following new Section 9.20 at the end thereof:

-6-

“SECTION 9.20.  ACKNOWLEDGEMENT AND CONSENT TO BAIL-IN OF EEA FINANCIAL INSTITUTIONS.  Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:
(a)    the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Lender that is an EEA Financial Institution; and
(b)    the effects of any Bail-in Action on any such liability, including, if applicable:
(i)    a reduction in full or in part or cancellation of any such liability;
(ii)    a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or
(iii)    the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority.”
		
	(i)
	Restated Schedules.  Each of the Schedules to the Agreement is hereby restated in its entirety by the substitution of the corresponding Schedules attached to this First Amendment, each of which is hereby incorporated into the Agreement.

		
	5.
	Ratification of Loan Documents; Representations and Warranties; Waiver of Claims.

		
	(a)
	Except as otherwise expressly provided herein, all terms and conditions of the Agreement and the other Loan Documents remain in full force and effect.  The Loan Parties hereby ratify, confirm, and reaffirm (i) all Loan Documents as amended hereby, and (ii) that all representations and warranties of the Loan Parties contained in the Agreement or any other Loan Document are true and correct in all material respects on and as of the date hereof, except to the extent that (i) such representations and warranties relate solely to an earlier date, in which case such representations and warranties were true, correct, and complete in all material respects as of such earlier date, or (ii) such representations and warranties are already qualified by Material Adverse Effect, “materiality” or similar qualifier, in which case, such representations and warranties are true, correct, and complete in all respects. 

-7-

 
		
	(b)
	The Loan Parties hereby represent and warrant as follows:

		
	(i)
	as of the First Amendment Effective Date, and immediately after giving effect to the consummation of the transactions contemplated by this First Amendment to occur on the First Amendment Effective Date, no Default or Event of Default has occurred and is continuing;

		
	(ii)
	all corporate and shareholder action on the part of the Loan Parties and all consents and approvals necessary for the valid execution, delivery and performance by the Loan Parties of this First Amendment and the documents, instruments and agreements delivered in connection herewith have been duly and effectively taken and evidence thereof reasonably satisfactory to the Agent has been provided to the Agent; and

		
	(iii)
	as of the First Amendment Effective Date, and immediately after giving effect to the consummation of the transactions contemplated by the First Amendment to occur on the First Amendment Effective Date, the Loan Parties, on a consolidated basis, are Solvent.

		
	(c)
	Each of the Loan Parties hereby acknowledges and agrees that, as of the First Amendment Effective Date, there is no basis or set of facts on the basis of which any amount (or any portion thereof) owed by the Loan Parties under the Loan Documents could be reduced, offset, waived, or forgiven, by rescission or otherwise; nor is there any claim, counterclaim, offset, or defense (or other right, remedy, or basis having a similar effect) available to the Loan Parties with regard thereto; nor is there any basis on which the terms and conditions of any of the Obligations could be claimed to be other than as stated on the written instruments which evidence such Obligations.

		
	(d)
	Each of the Loan Parties hereby acknowledges and agrees that, as of the First Amendment Effective Date, it has no offsets, defenses, claims, or counterclaims against the Agent or any Lender, or any of their respective affiliates, predecessors, successors, or assigns, or any of their respective officers, directors, employees, attorneys, or representatives, with respect to the Obligations, and that if any Loan Party now has, or ever did have prior to the First Amendment Effective Date, any offsets, defenses, claims, or counterclaims against the Agent or any Lender, or their respective affiliates, predecessors, successors, or assigns, or their respective officers, directors, employees, attorneys, or representatives, with respect to the Obligations, whether known or unknown, at law or in equity, from the beginning of the world through this date and through the time of execution of this First Amendment, all of them are hereby expressly WAIVED, and each of the Loan Parties hereby RELEASES the Agent and each Lender and their respective officers, directors, employees, attorneys, representatives, affiliates, predecessors, successors, and assigns from any liability therefor.

-8-

		
	6.
	Conditions to Effectiveness.  This First Amendment shall not be effective until each of the following conditions precedent has been fulfilled to the reasonable satisfaction of the Agent:

		
	(a)
	The Agent shall have received counterparts of this First Amendment, each duly executed and delivered by each of the parties hereto.

		
	(b)
	All corporate and shareholder action on the part of the Loan Parties and all consents and approvals necessary for the valid execution, delivery and performance by the Loan Parties of this First Amendment and the documents, instruments and agreements delivered in connection herewith shall have been duly and effectively taken and evidence thereof reasonably satisfactory to the Agent shall have been provided to the Agent.

		
	(c)
	As of the First Amendment Effective Date, and after giving effect to all transactions contemplated to occur as of the First Amendment Effective Date (including the provision of any Credit Extensions on the First Amendment Effective Date), Excess Availability shall be not less than $150,000,000.

		
	(d)
	After giving effect to this First Amendment, no Default or Event of Default shall have occurred and be continuing.

		
	(e)
	Agent shall have received the opinion of counsel to Loan Parties with respect to customary matters, in form and substance satisfactory to Agent; provided, that, the opinion of Nevada counsel to Parent may be delivered not more than ten (10) days following the date hereof; provided, further, than any extension of such ten (10) day period shall require the consent of the Required Lenders. 

		
	(f)
	There shall be no material misstatements of fact in the written materials furnished by the Loan Parties to the Agent or the Lenders prior to closing of this First Amendment, or, after giving effect to the Schedules provided or modified pursuant to this First Amendment, in the representations or warranties of the Loan Parties made in the Agreement.  

		
	(g)
	All fees payable to the Agent and the Lenders required to be paid on or before the date hereof (including, without limitation, the fees required by the First Amendment Fee Letter) shall have been paid.

		
	(h)
	The Agent shall have been reimbursed by the Loan Parties for all reasonable costs and expenses of the Agent (including, without limitation, reasonable attorneys’ fees) in connection with the preparation, negotiation, execution, and delivery of this First Amendment and related documents.  The Loan Parties hereby acknowledge and agree that the Agent may charge the Loan Account to pay such costs and expenses.

-9-

		
	7.
	Miscellaneous.

		
	(a)
	This First Amendment may be executed in several counterparts and by each party on a separate counterpart, each of which when so executed and delivered shall be an original, and all of which together shall constitute one instrument.  Delivery of an executed counterpart of a signature page to this First Amendment by telecopy or other electronic transmission shall be effective as delivery of a manually executed counterpart of this First Amendment.

		
	(b)
	This First Amendment, together with the other Loan Documents, expresses the entire understanding of the parties with respect to the transactions contemplated hereby.  No prior negotiations or discussions shall limit, modify, or otherwise affect the provisions hereof.

		
	(c)
	Any provision of this First Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

		
	(d)
	The Loan Parties represent and warrant that they have consulted with independent legal counsel of their selection in connection with this First Amendment and are not relying on any representations or warranties of the Agent or the Lenders or their counsel in entering into this First Amendment.

		
	(e)
	THIS FIRST AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF, BUT INCLUDING SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

[SIGNATURE PAGES FOLLOW]

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IN WITNESS WHEREOF, the parties have hereunto caused this First Amendment to be duly executed by their respective authorized officers as a sealed instrument as of the date first above written.

BORROWER:
SPECIALTY RETAILERS, INC.
By:    /s/ Oded Shein                
Name:    Oded Shein
		
	Title:
	Executive Vice President, Chief Financial Officer and Treasurer

FACILITY GUARANTOR AND PARENT:
STAGE STORES, INC.
By:    /s/ Oded Shein                
Name:    Oded Shein
		
	Title:
	Executive Vice President, Chief Financial Officer and Treasurer

[Signatures continue on next page]

[Signatures continued from previous page]

 AGENT:
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, Collateral Agent, Swingline Lender, and Issuing Bank 
By:    /s/ Jai Alexander            
Name:    Jai Alexander                
Title:    Director                

LENDERS:
WELLS FARGO BANK, NATIONAL ASSOCIATION
By:    /s/ Jai Alexander            
Name:    Jai Alexander                
Title:    Director

BANK OF AMERICA, N.A.
By:    /s/ Peter M. Walther            
Name:    Peter M. Walther
Title:    Senior Vice President

JPMORGAN CHASE BANK, N.A.
By:    /s/ Jon Eckhouse            
Name:    Jon Eckhouse
Title:    Authorized Officer

REGIONS BANK
By:    /s/ Connie Ruan            
Name:    Connie Ruan
Title:    Vice President

SUNTRUST BANK
By:    /s/ Christopher N. Jensen        
Name:    Christopher N. Jensen
Title:    Vice President

Updated Schedule 1.1

Schedule 1.1
Lenders and Commitments

	
					
	Lender
	Commitment
	Commitment Percentage

	 
	Ordinary Commitment
	Seasonal Commitment Increase Period Commitment
	Ordinary Commitment Percentage
	Seasonal Commitment Increase Period Commitment Percentage

	Wells Fargo Bank, National Association
	$133,300,000
	$183,300,000
	33.325%
	x/y

	JPMorgan Chase Bank, N.A.
	$75,000,000
	$75,000,000
	18.750%
	x/y

	Regions Bank
	$75,000,000
	$75,000,000
	18.750%
	x/y

	Bank of America, N.A.
	$66,700,000
	$66,700,000
	16.675%
	x/y

	SunTrust Bank
	$50,000,000
	$50,000,000
	12.500%
	x/y

	 
	$400,000,000
	$450,000,000
	100%
	100%

x= as to each Lender,  other than the Seasonal Increase Commitment Lender,  such Lender’s Ordinary Commitment, and as to the Seasonal Increase Commitment Lender,  the sum of such Lender’s Ordinary Commitment plus the Seasonal Commitment Increase Utilized Amount.

y= Adjusted Total CommitmentsEX-4.3

 Exhibit 4.3 

HORIZON GLOBAL CORPORATION 
  

 
 INDENTURE

 Dated as of [            ] 

 
  

WELLS FARGO BANK, 

NATIONAL ASSOCIATION, 

Trustee 
  

 
  

 

 CROSS-REFERENCE TABLE* 

 

					
	 Trust Indenture
Act Section
	  	Indenture
Section	 
	 310(a)(1)
	  	 	7.10	  
	 (a)(2)
	  	 	7.10	  
	 (a)(3)
	  	 	N.A.	  
	 (a)(4)
	  	 	N.A.	  
	 (a)(5)
	  	 	7.10	  
	 (b)
	  	 	7.10	  
	 (c)
	  	 	N.A.	  
	 311(a)
	  	 	7.11	  
	 (b)
	  	 	7.11	  
	 (c)
	  	 	N.A.	  
	 312(a)
	  	 	2.06	  
	 (b)
	  	 	11.03	  
	 (c)
	  	 	11.03	  
	 313(a)
	  	 	7.06	  
	 (b)(2)
	  	 	7.06; 7.07	  
	 (c)
	  	 	7.06; 11.02	  
	 (d)
	  	 	7.06	  
	 314(a)
	  	 	4.03; 4.04; 11.05	  
	 (b)
	  	 	N.A.	  
	 (c)(l)
	  	 	11.04	  
	 (c)(2)
	  	 	11.04	  
	 (c)(3)
	  	 	N.A.	  
	 (d)
	  	 	N.A.	  
	 (e)
	  	 	11.05	  
	 (f)
	  	 	N.A.	  
	 315(a)
	  	 	7.01	  
	 (b)
	  	 	7.05; 11.02	  
	 (c)
	  	 	7.01	  
	 (d)
	  	 	7.01	  
	 (e)
	  	 	6.11	  
	 316(a) (last sentence)
	  	 	2.10	  
	 (a)(l)(A)
	  	 	6.05	  
	 (a)(l)(B)
	  	 	6.04	  
	 (a)(2)
	  	 	N.A.	  
	 (b)
	  	 	6.07	  
	 (c)
	  	 	2.14	  
	 317(a)(l)
	  	 	6.08	  
	 (a)(2)
	  	 	6.09	  
	 (b)
	  	 	2.05	  
	 318(a)
	  	 	11.01	  
	 (b)
	  	 	N.A.	  
	 (c)
	  	 	11.01	  

  

N.A. means not applicable. 

	*	This Cross Reference Table is not part of this Indenture. 

  
 2 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
	 ARTICLE 1         DEFINITIONS AND
INCORPORATION BY REFERENCE
	  	 	1	  
				
		 	 Section 1.01
	  	 Definitions
	  	 	1	  
		 	 Section 1.02
	  	 Other Definitions
	  	 	5	  
		 	 Section 1.03
	  	 Incorporation by Reference of Trust Indenture Act
	  	 	5	  
		 	 Section 1.04
	  	 Rules of Construction
	  	 	6	  
		
	 ARTICLE 2         THE NOTES
	  	 	6	  
				
		 	 Section 2.01
	  	 Issuable in Series
	  	 	6	  
		 	 Section 2.02
	  	 Establishment of Terms of Series of Notes
	  	 	6	  
		 	 Section 2.03
	  	 Execution and Authentication
	  	 	8	  
		 	 Section 2.04
	  	 Registrar and Paying Agent
	  	 	8	  
		 	 Section 2.05
	  	 Paying Agent to Hold Money in Trust
	  	 	9	  
		 	 Section 2.06
	  	 Holder Lists
	  	 	9	  
		 	 Section 2.07
	  	 Transfer and Exchange
	  	 	9	  
		 	 Section 2.08
	  	 Replacement Notes
	  	 	10	  
		 	 Section 2.09
	  	 Outstanding Notes
	  	 	10	  
		 	 Section 2.10
	  	 Treasury Notes
	  	 	10	  
		 	 Section 2.11
	  	 Temporary Notes
	  	 	10	  
		 	 Section 2.12
	  	 Cancellation
	  	 	11	  
		 	 Section 2.13
	  	 Defaulted Interest
	  	 	11	  
		 	 Section 2.14
	  	 Global Notes
	  	 	11	  
		 	 Section 2.15
	  	 CUSIP Number
	  	 	12	  
		
	 ARTICLE 3         REDEMPTION AND
PREPAYMENT
	  	 	12	  
				
		 	 Section 3.01
	  	 Notice to Trustee
	  	 	12	  
		 	 Section 3.02
	  	 Selection of Notes to Be Redeemed
	  	 	13	  
		 	 Section 3.03
	  	 Notice of Redemption
	  	 	13	  
		 	 Section 3.04
	  	 Effect of Notice of Redemption
	  	 	14	  
		 	 Section 3.05
	  	 Deposit of Redemption Price
	  	 	14	  
		 	 Section 3.06
	  	 Notes Redeemed in Part
	  	 	14	  
		
	 ARTICLE 4         COVENANTS
	  	 	14	  
				
		 	 Section 4.01
	  	 Payment of Principal and Interest
	  	 	14	  
		 	 Section 4.02
	  	 Maintenance of Office or Agency
	  	 	14	  
		 	 Section 4.03
	  	 Reports
	  	 	15	  
		 	 Section 4.04
	  	 Compliance Certificate
	  	 	15	  
		 	 Section 4.05
	  	 Taxes
	  	 	15	  
		 	 Section 4.06
	  	 Stay, Extension and Usury Laws
	  	 	15	  
		 	 Section 4.07
	  	 Corporate Existence
	  	 	15	  
		
	 ARTICLE 5         SUCCESSORS
	  	 	16	  
				
		 	 Section 5.01
	  	 Merger, Consolidation, or Sale of Assets
	  	 	16	  
		 	 Section 5.02
	  	 Successor Corporation Substituted
	  	 	16	  
		
	 ARTICLE 6         DEFAULTS AND
REMEDIES
	  	 	17	  
				
		 	 Section 6.01
	  	 Events of Default
	  	 	17	  
		 	 Section 6.02
	  	 Acceleration
	  	 	18	  
		 	 Section 6.03
	  	 Other Remedies
	  	 	18	  
		 	 Section 6.04
	  	 Waiver of Past Defaults
	  	 	18	  

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
		 	 Section 6.05
	  	 Control by Majority
	  	 	19	  
		 	 Section 6.06
	  	 Limitation on Suits
	  	 	19	  
		 	 Section 6.07
	  	 Rights of Holders of Notes to Receive Payment
	  	 	19	  
		 	 Section 6.08
	  	 Collection Suit by Trustee
	  	 	19	  
		 	 Section 6.09
	  	 Trustee May File Proofs of Claim
	  	 	19	  
		 	 Section 6.10
	  	 Priorities
	  	 	20	  
		 	 Section 6.11
	  	 Undertaking for Costs
	  	 	20	  
		 	 Section 6.12
	  	 Restoration of Rights and Remedies
	  	 	20	  
		
	 ARTICLE 7         TRUSTEE
	  	 	21	  
				
		 	 Section 7.01
	  	 Duties of Trustee
	  	 	21	  
		 	 Section 7.02
	  	 Rights of Trustee
	  	 	21	  
		 	 Section 7.03
	  	 Individual Rights of Trustee
	  	 	23	  
		 	 Section 7.04
	  	 Trustee’s Disclaimer
	  	 	23	  
		 	 Section 7.05
	  	 Notice of Defaults
	  	 	23	  
		 	 Section 7.06
	  	 Reports by Trustee to Holders of the Notes
	  	 	23	  
		 	 Section 7.07
	  	 Compensation and Indemnity
	  	 	23	  
		 	 Section 7.08
	  	 Replacement of Trustee
	  	 	24	  
		 	 Section 7.09
	  	 Successor Trustee by Merger, etc
	  	 	25	  
		 	 Section 7.10
	  	 Eligibility; Disqualification
	  	 	25	  
		 	 Section 7.11
	  	 Preferential Collection of Claims Against Company
	  	 	25	  
		
	 ARTICLE 8         LEGAL DEFEASANCE AND
COVENANT DEFEASANCE
	  	 	25	  
				
		 	 Section 8.01
	  	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	25	  
		 	 Section 8.02
	  	 Legal Defeasance and Discharge
	  	 	26	  
		 	 Section 8.03
	  	 Covenant Defeasance
	  	 	26	  
		 	 Section 8.04
	  	 Conditions to Legal or Covenant Defeasance
	  	 	26	  
		 	 Section 8.05
	  	 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous
Provisions
	  	 	27	  
		 	 Section 8.06
	  	 Repayment to Company
	  	 	28	  
		 	 Section 8.07
	  	 Reinstatement
	  	 	28	  
		
	 ARTICLE 9         AMENDMENT, SUPPLEMENT AND
WAIVER
	  	 	28	  
				
		 	 Section 9.01
	  	 Without Consent of Holders of Notes
	  	 	28	  
		 	 Section 9.02
	  	 With Consent of Holders of Notes
	  	 	29	  
		 	 Section 9.03
	  	 Compliance with Trust Indenture Act
	  	 	30	  
		 	 Section 9.04
	  	 Revocation and Effect of Consents
	  	 	30	  
		 	 Section 9.05
	  	 Notation on or Exchange of Notes
	  	 	30	  
		 	 Section 9.06
	  	 Trustee to Sign Amendments, etc
	  	 	30	  
		
	 ARTICLE 10         SATISFACTION AND
DISCHARGE
	  	 	31	  
				
		 	 Section 10.01
	  	 Satisfaction and Discharge
	  	 	31	  
		 	 Section 10.02
	  	 Application of Trust Money
	  	 	31	  
		
	 ARTICLE 11         MISCELLANEOUS
	  	 	32	  
				
		 	 Section 11.01
	  	 Trust Indenture Act Controls
	  	 	32	  
		 	 Section 11.02
	  	 Notices
	  	 	32	  
		 	 Section 11.03
	  	 Communication by Holders of Notes with Other Holders of Notes
	  	 	33	  
		 	 Section 11.04
	  	 Certificate and Opinion as to Conditions Precedent
	  	 	33	  
		 	 Section 11.05
	  	 Statements Required in Certificate or Opinion
	  	 	34	  

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
		 	 Section 11.06
	  	 Rules by Trustee and Agents
	  	 	34	  
		 	 Section 11.07
	  	 Calculation of Foreign Currency Amounts
	  	 	34	  
		 	 Section 11.08
	  	 No Personal Liability of Directors, Officers, Employees and Shareholders
	  	 	34	  
		 	 Section 11.09
	  	 Governing Law
	  	 	34	  
		 	 Section 11.10
	  	 No Adverse Interpretation of Other Agreements
	  	 	34	  
		 	 Section 11.11
	  	 Successors
	  	 	34	  
		 	 Section 11.12
	  	 Severability
	  	 	34	  
		 	 Section 11.13
	  	 Counterpart Originals
	  	 	35	  
		 	 Section 11.14
	  	 Table of Contents, Headings, etc
	  	 	35	  
		 	 Section 11.15
	  	 Waiver of Jury Trial
	  	 	35	  
		 	 Section 11.16
	  	 Patriot Act Compliance
	  	 	35	  
		 	 Section 11.17
	  	 Foreign Account Tax Compliance Act (FATCA)
	  	 	35	  

  
 iii 

 INDENTURE, dated as of
[                    ], by and between Horizon Global Corporation, a Delaware corporation (the “Company”), and Wells Fargo Bank,
National Association, a national banking association organized and existing under the laws of the United States of America, as trustee (the “Trustee”). 

The Company and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the Notes
issued under this Indenture. 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION 

BY REFERENCE 
  

	Section 1.01	Definitions. 

 “Affiliate” of any specified Person
means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the
possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms
“controlling,” “controlled by” and “under common control with” have correlative meanings. 

“Agent” means any Registrar, co-registrar, Custodian, Paying Agent or additional paying agent. 

“Applicable Procedures” means, with respect to any payment, tender, redemption, transfer, exchange, or conversion of or for
beneficial interests in any Global Note, the rules and procedures of the Depositary that apply to such payment, tender, redemption, transfer, exchange, or conversion. 

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

“Board of Directors” means: 

(1) with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on
behalf of such board; 
 (2) with respect to a partnership, the Board of Directors of the general partner of the partnership;

 (3) with respect to a limited liability company, the managing member or members or any controlling committee of managing
members thereof; and 
 (4) with respect to any other Person, the board or committee of such Person serving a similar
function. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the
Company to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee. 

“Business Day” means any day other than a Legal Holiday. If a payment date falls on a day that is not a Business Day, the
related payment shall be made on the next succeeding Business Day as if made on the date the payment is due, and no interest shall accrue on such payment for the intervening period. 

“Capital Lease Obligation” means, at the time any determination is to be made, the amount of the liability in respect of a
capital lease that would at that time be required to be capitalized on a balance sheet prepared in accordance with GAAP. 

 “Capital Stock” means: 

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

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company,
partnership interests (whether general or limited) or membership interests; and 
 (4) any other interest or participation
that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Company” means Horizon Global Corporation, and, subject to Article 5, any and all successors thereto. 

“Company Order” means a written order signed in the name of the Company by an Officer. 

“Corporate Trust Office of the Trustee” means the designated office of the Trustee at which at any time its corporate trust
business in respect of this Indenture shall be administered, which office at the date hereof is located at 150 East 42nd Street, 40th Floor, New York, New York 10017, Attention: Corporate, Municipal and Escrow Services, or such other address as the
Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the
Holders and the Company). 
 “Custodian” means the Trustee, as custodian for the Depositary with respect to any Global
Notes, or any successor entity thereto. 
 “Default” means any event that is, or with the passage of time or the giving of
notice or both would be, an Event of Default. 
 “Depositary” means, with respect to the Notes of any Series issuable or
issued in whole or in part in the form of one or more Global Notes, the person designated as Depositary for such Series by the Company, which Depositary shall be a clearing agency registered under the Exchange Act; and if at any time there is more
than one such person, “Depositary” as used with respect to the Notes of any Series shall mean the Depositary with respect to the Notes of such Series. 

“Discount Note” means any Note that provides for an amount less than the stated principal amount thereof to be due and
payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.02. 
 “Dollars” and
“$” means the currency of The United States of America. 
 “Equity Interests” means Capital Stock and all
warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Foreign Currency” means any currency or currency unit issued by a government other than the government of The United States
of America. 
 “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a
significant segment of the accounting profession, which are in effect from time to time. 

  
 2 

 “Global Note” or “Global Notes” means a Note or Notes, as the
case may be, in the form established pursuant to Section 2.02 evidencing all or part of a Series of Notes, issued to the Depositary for such Series or its nominee, and registered in the name of such Depositary or nominee. 

“Government Securities” means direct obligations of, or obligations guaranteed by, The United States of America, and the
payment for which the United States pledges its full faith and credit. 
 “Guarantee” means a guarantee other than by
endorsement of negotiable instruments for collection in the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in
respect thereof, of all or any part of any Indebtedness. 
 “Hedging Obligations” means, with respect to any specified
Person, the obligations of such Person under: 
 (1) interest rate swap agreements (whether from fixed to floating or from
floating to fixed), interest rate cap agreements and interest rate collar agreements; 
 (2) other agreements or arrangements
designed to manage interest rates or interest rate risk; and 
 (3) other agreements or arrangements designed to protect such
Person against fluctuations in currency exchange rates or commodity prices. 
 “Holder” means a Person in whose name a Note
is registered. 
 “Indebtedness” means, with respect to any specified Person, any indebtedness of such Person, whether or
not contingent (without duplication): 
 (1) in respect of borrowed money; 

(2) evidenced by bonds, notes, debentures or similar instruments; 

(3) in respect of banker’s acceptances or other similar instruments or credit transactions (including reimbursement
obligations with respect thereto), other than obligations with respect to letters of credit securing obligations (other than obligations described in clauses (1) – (2), (4) or (5) hereof) entered into in the ordinary course of business of such
Person to the extent such letters of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later than the third Business Day following receipt by such Person of a demand for reimbursement following payment on
the letter of credit; 
 (4) representing Capital Lease Obligations; 

(5) representing the balance deferred and unpaid of the purchase price of any property, except any such balance that
constitutes an accrued expense or trade payable; or 
 (6) representing any Hedging Obligations, 

if and to the extent any of the preceding items, other than letters of credit and Hedging Obligations, would appear as a liability upon a balance sheet of the
specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the specified Person, whether or not such Indebtedness is assumed by the
specified Person, and, to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person or any liability of any person, whether or not contingent and whether or not it appears on the balance sheet
of such Person. Notwithstanding anything to the contrary in the foregoing, the term “Indebtedness” excludes (x) any indebtedness of the Company or any Subsidiary of the Company to the Company or another Subsidiary of the Company and (y)
any Guarantee by the Company or any Subsidiary of the Company of indebtedness of the Company or any Subsidiary of the Company. 

  
 3 

 The amount of any Indebtedness outstanding as of any date shall be: 

(1) the accreted value of the Indebtedness, in the case of any Indebtedness that does not require the current payment of interest; and 

(2) the principal amount of the Indebtedness, together with any interest on the Indebtedness that is more than 30 days past due, in the case
of any other Indebtedness. 
 “Indenture” means this Indenture, as amended, supplemented or restated from time to time and
shall include the form and terms of particular Series of Notes established as contemplated hereunder. 
 “Legal Holiday”
means a Saturday, a Sunday or a day on which banking institutions in the City of New York or the city where the Corporate Trust Office of the Trustee is located at such time are required or authorized by law, regulation or executive order to close
or be closed.
 “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or
encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other
agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction; provided that in no event shall an operating lease
be deemed to constitute a Lien. 
 “Notes” means notes or other debt instruments of the Company of any Series issued under
this Indenture. 
 “Officer” means, with respect to any Person, the Chief Executive Officer, the President, the Chief
Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, the Assistant Secretary or any Vice-President of such Person. 

“Officer’s Certificate” means a certificate signed on behalf of the Company by an Officer of the Company that meets the
requirements of Section 11.05 hereof. 
 “Opinion of Counsel” means an opinion from legal counsel, who may be an employee
of or counsel to the Company or any Subsidiary of the Company, or other counsel reasonably acceptable to the Trustee, that meets the requirements of Section 11.05 hereof.

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, limited liability company or government or other entity. 
 “Responsible Officer,” when used
with respect to the Trustee, means any director, vice president, assistant vice president or associate within the Corporate Trust Office of the Trustee (or any successor group of the Trustee) or any other officer of the Trustee customarily
performing functions similar to those performed by any of the above designated officers who at the time shall have direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter,
any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 

“SEC” means the Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Series” or “Series of Notes” means each series of debentures, notes or other debt instruments of the
Company created pursuant to Sections 2.01 and 2.02 hereof. 

  
 4 

 “Significant Subsidiary” means a Subsidiary of any Person that would be a
“significant subsidiary” as defined under Regulation S-X promulgated under the Securities Act. 
 “Stated
Maturity” means, with respect to any installment of interest or principal on any series of Indebtedness, the date on which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness, and
will not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 

“Subsidiary” means, with respect to any specified Person: 

(1) any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital
Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or shareholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees
of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 

(2) any partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of
such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 

“TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb). 

“Trustee” means the person named as the “Trustee” in the first paragraph of this instrument until a successor
Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean 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 Notes of any Series shall mean the Trustee with respect to Notes of that Series. 

“Voting Stock” of any specified Person as of any date means the Capital Stock of such Person that is at the time entitled to
vote in the election of the Board of Directors of such Person. 
  

	Section 1.02	Other Definitions. 

  

					
	 Term
	  	Defined
in Section	 
	 “Authentication Order”
	  	 	2.03	  
	 “Covenant Defeasance”
	  	 	8.03	  
	 “Event of Default”
	  	 	6.01	  
	 “Legal Defeasance”
	  	 	8.02	  
	 “Paying Agent”
	  	 	2.04	  
	 “Registrar”
	  	 	2.04	  

  

	Section 1.03	Incorporation by Reference of Trust Indenture Act. 

 Whenever this
Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. 
 The
following TIA terms used in this Indenture have the following meanings: 
 “indenture securities” means the Notes; 

“indenture security Holder” means a Holder of a Note; 

“indenture to be qualified” means this Indenture; 

  
 5 

 “indenture trustee” or “institutional trustee” means the
Trustee; and 
 “obligor” on the indenture securities means the Company, and any other obligor upon the Notes. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under
the TIA have the meanings so assigned to them. 
  

	Section 1.04	Rules of Construction. 

 Unless the context otherwise requires: 

(1) a term has the meaning assigned to it; 

(2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(3) “or” is not exclusive; 

(4) words in the singular include the plural, and in the plural include the singular; 

(5) “will” shall be interpreted to express a command; 

(6) provisions apply to successive events and transactions; and 

(7) references to sections of or rules under the Securities Act will be deemed to include substitute, replacement or successor
sections or rules adopted by the SEC from time to time. 
 ARTICLE 2 

THE NOTES 
  

	Section 2.01	Issuable in Series. 

 The aggregate principal amount of Notes that
may be authenticated and delivered under this Indenture is unlimited. The Notes may be issued in one or more Series. All Notes of a Series shall be identical except as may be set forth in a Board Resolution, a supplemental indenture or an
Officer’s Certificate detailing the adoption of the terms thereof pursuant to the authority granted under a Board Resolution. In the case of Notes of a Series to be issued from time to time, the Board Resolution, Officer’s Certificate or
supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which
interest shall accrue) are to be determined. Notes may differ between Series in respect of any matters, provided that all Series of Notes shall be equally and ratably entitled to the benefits of this Indenture. 

 

	Section 2.02	Establishment of Terms of Series of Notes. 

 At or prior to the
issuance of any Notes within a Series, the following shall be established (as to the Series generally, in the case of Subsection 2.02(a) and either as to such Notes within the Series or as to the Series generally in the case of Subsections 2.02(b)
through 2.02(r)) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board Resolution, supplemental indenture or an Officer’s Certificate pursuant to authority granted under a Board Resolution: 

(a) the title of the Series (which shall distinguish the Notes of that particular Series from the Notes of any other Series); 

(b) the price or prices (expressed as a percentage of the principal amount thereof) at which the Notes of the Series will be issued; 

  
 6 

 (c) any limit upon the aggregate principal amount of the Notes of the Series which may be
authenticated and delivered under this Indenture (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes of the Series pursuant to Section 2.07, 2.08, 2.11, 3.06 or 9.05); 

(d) the date or dates on which the principal of the Notes of the Series is payable; 

(e) the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates
(including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Notes of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or
dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date; 

(f) the place or places where the principal of, premium and interest, if any, on the Notes of the Series shall be payable, where the Notes 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 the Notes of such Series and this Indenture may be served, and the method of such payment, if by wire
transfer, mail or other means; 
 (g) if applicable, the period or periods within which, the price or prices at which and the terms and
conditions upon which the Notes of the Series may be redeemed, in whole or in part, at the option of the Company; 
 (h) the obligation, if
any, of the Company to redeem or purchase the Notes of the Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and
conditions upon which Notes of the Series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 
 (i) the
dates, if any, on which and the price or prices at which the Notes of the Series will be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations; 

(j) the denominations in which the Notes of the Series shall be issuable, if other than minimum denominations of $2,000 and integral multiples
of $1,000 in excess thereof; 
 (k) the forms of the Notes of the Series in bearer or fully registered form (and, if in fully registered
form, whether the Notes will be issuable as Global Notes); 
 (l) if other than the principal amount thereof, the portion of the principal
amount of the Notes of the Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.02; 

(m) the designation of the currency, currencies or currency units in which payment of the principal of, premium and interest, if any, on the
Notes of the Series will be made if other than U.S. dollars; 
 (n) whether the Notes of the Series may be exchangeable for and/or
convertible into common shares of the Company or any other security; 
 (o) the provisions, if any, relating to any security provided for
the Notes of the Series, and any subordination in right of payment, if any, of the Notes of the Series; 

  
 7 

 (p) any addition to or change in the Events of Default which applies to any Notes of the Series
and any change in the right of the Trustee or the requisite Holders of such Notes to declare the principal amount thereof due and payable pursuant to Section 6.02; 

(q) any addition to or change in the covenants set forth in Articles 4 or 5 that applies to Notes of the Series; 

(r) any other terms of the Notes of the Series (which may modify or delete any provision of this Indenture insofar as it applies to such
Series); and 
 (s) any depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to
Notes of such Series if other than those appointed herein. 
 All Notes of any one Series need not be issued at the same time and may be
issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officer’s Certificate referred to above, and, unless otherwise provided, a Series may
be reopened, without the consent of the Holders, for issuances of additional Notes of such Series; provided, however, that if such additional Notes are not fungible with the Notes of such Series for U.S. federal income tax purposes,
the additional Notes will have a separate CUSIP number. No Board Resolution or Officer’s Certificate may affect the Trustee’s own rights, duties or immunities under this Indenture or otherwise with respect to any series of Notes except as
it may agree in writing. 
  

	Section 2.03	Execution and Authentication. 

 One Officer shall sign the Notes for
the Company by manual or facsimile signature. If an Officer whose signature is on a Note no longer holds that office at the time such Note is authenticated, such Note shall nevertheless be valid. 

A Note shall not be valid until authenticated by the manual signature of the Trustee. The signature shall be conclusive evidence that the
Note, as applicable, has been authenticated under this Indenture. 
 The Trustee shall, upon a written order of the Company signed by one
Officer (an “Authentication Order”), authenticate Notes for original issue in accordance with this Indenture. The Notes shall be dated their date of authentication. 

The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. An authenticating agent may authenticate
Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the
Company. 
 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Notes of any
Series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes, and the Trustee in accordance with the Company Order will authenticate and deliver such Notes. In
authenticating such Notes, and accepting the additional responsibilities under this Indenture in relation to such Notes, the Trustee shall receive, and (subject to Section 7.01) will be fully protected in relying upon, an Opinion of Counsel stating:

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

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

(c) that this Indenture and such Notes, when authenticated and delivered by the Trustee and, with respect to the Notes, when issued by the
Company, in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and binding obligations of the Company enforceable in accordance with their terms, except as the enforceability thereof may be limited
by bankruptcy, insolvency, reorganization, moratorium, or other laws relating to or affecting creditors’ rights and by general principles of equity. 
  

	Section 2.04	Registrar and Paying Agent. 

 The Company shall maintain an office
or agency where Notes may be presented for registration of transfer or for exchange (“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar shall keep a
register with respect to each Series of the Notes and of their transfer and exchange. The 

  
 8 

 
Company may appoint one or more co-registrars and one or more additional paying agents or change the office of such Registrar or Paying Agent. The term “Registrar” includes any
co-registrar and the term “Paying Agent” includes any additional paying agent. The Company may change any Paying Agent or Registrar without notice to any Holder; however, the Company shall maintain a Paying Agent in each place of payment
for the Notes of each Series. The Company shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee
shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 
 The Company initially appoints the
Trustee to act as the Registrar and Paying Agent and to act as Custodian with respect to the Global Notes. The Company shall be responsible for making calculations called for under the Notes and this Indenture, including, but not limited to,
determination of interest, additional amounts, redemption price, premium, if any, and any other amounts payable on the Notes. The Company will make the calculations in good faith and, absent manifest error, its calculations will be final and binding
on the Holders. The Company will provide a schedule of its calculations to the Trustee when requested by the Trustee in writing, and the Trustee is entitled to rely conclusively on the accuracy of the Company’s calculations without independent
verification. The Trustee shall forward the Company’s calculations to any Holder of the Notes upon the written request of such Holder. 
  

	Section 2.05	Paying Agent to Hold Money in Trust. 

 The Company shall require
each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the benefit of Holders of any Series of Notes, or the Trustee, all money held by the Paying Agent for the payment of principal or interest on
the Series of Notes, and shall notify the Trustee of any default by the Company in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time
may require a Paying Agent to pay all money held by it to the Trustee. All payments to a Paying Agent on any Notes which remain unclaimed for a period of two years after such payment was due shall be repaid to the Company. Thereafter, the Holder may
look only to the Company for repayment. Upon payment over to the Trustee, or to the Company, as the case may be, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the money. If the Company or a
Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of Holders of any Series of Notes all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company,
the Trustee shall serve as Paying Agent for the Notes. 
  

	Section 2.06	Holder Lists. 

 The Trustee shall preserve in as current a form as
is reasonably practicable the most recent list available to it of the names and addresses of Holders of each Series of Notes and shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar, the Company shall furnish to
the Trustee, at least seven 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 each Series of Notes and the Company shall otherwise comply with TIA Section 312(a). 
  

	Section 2.07	Transfer and Exchange. 

 Notes may be transferred or exchanged at
the office of the Registrar or co-registrar designated by the Company. Where Notes of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Notes of the
same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and exchanges, the Trustee shall authenticate Notes at the Registrar’s request.
No service charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable
in connection therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.06 or 9.05). 

Neither the Company nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Notes of any Series for the period
beginning at the opening of business fifteen days immediately preceding the 

  
 9 

 
mailing of a notice of redemption of Notes of that Series selected for redemption and ending at the close of business on the day of such mailing, or (b) to register the transfer of or exchange
Notes of any Series selected, called or being called for redemption as a whole or a portion thereof, except the unredeemed portion of Notes being redeemed in part. 

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

	Section 2.08	Replacement Notes. 

 If any mutilated Note is surrendered to the
Trustee, or if the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Note, the Company shall issue and the Trustee, upon receipt of an Authentication Order together with such indemnity or
security sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced, shall authenticate a replacement Note of
the same Series if the Trustee’s requirements are met. The Company may charge for its expenses in replacing a Note. 
 Every
replacement Note of any Series is an additional obligation of the Company and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes of that Series duly issued hereunder. 

 

	Section 2.09	Outstanding Notes. 

 The Notes outstanding at any time are all the
Notes authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in
this Section as not outstanding. Except as set forth in Section 2.10 hereof, a Note does not cease to be outstanding because the Company or an Affiliate of the Company holds the Note. 

If a Note is replaced pursuant to Section 2.08 hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that
the replaced Note is held by a bona fide purchaser. 
 If the principal amount of any Note is considered paid under Section 4.01 hereof, it
ceases to be outstanding and interest on it ceases to accrue. 
 If the Paying Agent (other than the Company, a Subsidiary or an Affiliate
of any thereof) holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date, then on and after that date such Notes shall be deemed to be no longer outstanding and shall cease to accrue interest. 

 

	Section 2.10	Treasury Notes. 

 In determining whether the Holders of the required
principal amount of Notes of a Series have concurred in any direction, waiver or consent, Notes owned by the Company, or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company,
shall be considered as though not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes of a Series that a Responsible Officer of the Trustee
actually knows are so owned shall be so disregarded. 
  

	Section 2.11	Temporary Notes. 

 Until certificates representing Notes are ready
for delivery, the Company may prepare and the Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes. Temporary Notes shall be 

  
 10 

 
substantially in the form of certificated Notes but may have variations that the Company considers appropriate for temporary Notes and as shall be reasonably acceptable to the Trustee. Without
unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Notes in exchange for temporary Notes. 

Holders of temporary Notes shall be entitled to all of the benefits of this Indenture. 

 

	Section 2.12	Cancellation. 

 The Company at any time may deliver Notes to the
Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Notes surrendered for registration of
transfer, exchange, payment, replacement or cancellation. The Company may not issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation. Cancelled Notes shall be disposed of by the Trustee pursuant
to its standard procedures and, upon request by the Company, the Trustee shall deliver a certificate or other evidence of such disposition. 
  

	Section 2.13	Defaulted Interest. 

 If the Company defaults in a payment of
interest on a Series of Notes, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders of the Series on a subsequent special record date, in each
case at the rate provided in the Notes and in Section 4.01 hereof. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Company shall fix or
cause to be fixed each such special record date and payment date, provided that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record
date, the Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed (or, in the case of the Depositary with respect to any Global Note, sent electronically) to
Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 
  

	Section 2.14	Global Notes. 

 (a) Terms of Notes. A Board Resolution, a
supplemental indenture hereto, or an Officer’s Certificate shall establish whether the Notes of a Series shall be issued in whole or in part in the form of one or more Global Notes and shall name the Depositary for such Global Note or Notes.
Except as provided herein, each Global Note shall be (i) registered in the name of the Depositary, (ii) deposited with the Depositary or its nominee, and (iii) bear the legend indicated in Section 2.14(c). 

(b) Transfer and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.07 and in addition thereto, any Global
Note shall be exchangeable pursuant to Section 2.07 for Notes registered in the names of Holders other than the Depositary for such Note or its nominee only if (i) such Depositary notifies the Company that it is unwilling or unable to continue as
Depositary for such Global Note or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to appoint a successor Depositary registered as a clearing agency under the
Exchange Act within 90 days of such event, (ii) the Company executes and delivers to the Trustee an Officer’s Certificate to the effect that such Global Note shall be so exchangeable or (iii) an Event of Default with respect to the Notes
represented by such Global Note shall have happened and be continuing. Any Global Note that is exchangeable pursuant to the preceding sentence shall be exchangeable for Notes registered in such names as the Depositary shall direct in writing in an
aggregate principal amount equal to the principal amount of the Global Note with like tenor and terms. 
 Except as provided in this Section
2.14(b), a Global Note may not be transferred except as a whole by the Depositary with respect to such Global Note to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the
Depositary, or any such nominee to a successor Depositary or a nominee of such a successor Depositary. 

  
 11 

 (c) Legend. Any Global Note issued hereunder shall bear a legend in substantially the
following form: 
 “This Note is a Global Note within the meaning of the Indenture hereinafter referred to and is
registered in the name of the Depositary or a nominee of the Depositary. This Note is exchangeable for Notes registered in the name of a person other than the Depositary or its nominee only in the limited circumstances described in the Indenture,
and may not be transferred except as a whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary
or a nominee of such a successor Depositary.” 
 (d) Acts of Holders. The Depositary, as a Holder, may appoint agents and
otherwise authorize participants to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under this Indenture. The record date for purposes of determining the
identity of Holders entitled to vote or consent to any action by vote or consent authorized or permitted under this Indenture may be determined as provided for in Section 316(c) of the TIA. 

(e) Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.02,
payment of the principal of and interest, if any, on any Global Note shall be made to the Holder thereof. Prior to due presentment of a Note for registration of transfer, the Company, the Trustee, and any agent of the Company or the Trustee may
treat the Person in whose name such Note is registered as the owner of such Note at the close of business on the regular record date for the purpose of receiving payment of principal of and any premium and (subject to Section 2.13) any interest on
such Note and for all other purposes whatsoever, whether or not such Note shall be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee will be affected by notice to the contrary. 

(f) Consents, Declaration and Directions. Except as provided in Section 2.14(e), the Company, the Trustee and any Agent shall treat a
person as the Holder of such principal amount of outstanding Notes of such Series represented by a Global Note as shall be specified in a written statement of the Depositary with respect to such Global Note, for purposes of obtaining any consents,
declarations, waivers or directions required to be given by the Holders pursuant to this Indenture. 
 (g) Responsibility of Trustee or
Agents. Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the Depositary. The Company has entered into a letter of representations with the Depositary in the form provided by the Depositary and
the Trustee and each Agent is hereby authorized to act in accordance with such letter and the Applicable Procedures. 
  

	Section 2.15	CUSIP Number. 

 The Company in issuing the Notes may use
“CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use CUSIP numbers in notices as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such
numbers either as printed on the Notes or as contained in any notice and that reliance may be placed only on the other identification numbers printed on the Notes, and any such notice shall not be affected by any defect in or the omission of
such numbers. The Company shall promptly notify the Trustee in writing of any change in the CUSIP numbers. 
 ARTICLE 3 

REDEMPTION AND PREPAYMENT 
  

	Section 3.01	Notice to Trustee. 

 The Company may, with respect to any Series of
Notes, reserve the right to redeem and pay the Series of Notes or may covenant to redeem and pay the Series of Notes or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Notes. If a Series
of Notes is redeemable and the Company wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the Series of Notes pursuant to the 

  
 12 

 
terms of such Notes, it shall notify the Trustee in writing of the redemption date and the principal amount of Series of Notes to be redeemed. The Company shall give the notice at least 15 days
prior to the mailing or sending of notice of redemption to the Holders of the Notes to be redeemed (or such shorter notice as may be acceptable to the Trustee). 
  

	Section 3.02	Selection of Notes to Be Redeemed. 

 If less than all of the Notes
of a Series are to be redeemed or purchased in an offer to purchase at any time, the Trustee (subject to the applicable procedures of the Depositary) shall select the Notes of a Series to be redeemed or purchased among the Holders of the Notes
(a) in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, (b) if the Notes are not so listed, on a pro rata basis, by lot or in accordance with any other method
the Trustee considers fair and appropriate.
 The Trustee shall promptly notify the Company in writing of the Notes selected for redemption
and, in the case of any Note selected for partial redemption, the principal amount thereof to be redeemed. Notes of a Series and portions of them selected shall be in amounts of $2,000 or whole multiples of $1,000, or with respect to Notes of any
Series issuable in other denominations pursuant to Section 2.02(j), the minimum principal denomination for each Series and integral multiples thereof. Except as provided in the preceding sentence, provisions of this Indenture that apply to Notes of
a Series called for redemption or repurchase also apply to portions of Notes of a Series called for redemption or repurchase. 
  

	Section 3.03	Notice of Redemption. 

 Unless otherwise indicated for a particular
Series by Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, at least 30 days but not more than 60 days before a redemption date, the Company shall mail or cause to be mailed, by first class mail, or, in the case of
the Depositary with respect to any Global Note, sent electronically, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address. 

The notice shall identify the Notes of the Series to be redeemed and shall state: 

(1) the redemption date; 

(2) the redemption price (or manner of calculation if not then known); 

(3) the name and address of the Paying Agent; 

(4) that Notes of the Series called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 (5) that interest on Notes of the Series called for redemption ceases to accrue on and after the redemption date; 

(6) the CUSIP number, if any, provided that no representation is made as to the correctness or accuracy of the CUSIP number, if
any, listed in such notice or printed on the Notes; 
 (7) the conditions precedent, if any, to the redemption; and 

(8) any other information as may be required by the terms of the particular Series of the Notes or the Notes of a Series being
redeemed. 
 At the Company’s request, and upon receipt of an Officer’s Certificate complying with Section 11.04 hereof at least
15 days prior to the date notice is to be given (unless a shorter period shall be satisfactory to the Trustee), together with the notice to be given setting forth the information to be stated therein as provided in the preceding paragraph, the
Trustee shall give the notice of redemption in the Company’s name and at its expense. 

  
 13 

	Section 3.04	Effect of Notice of Redemption. 

 Once notice of redemption is sent
in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price. Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture
hereto or an Officer’s Certificate, a notice of redemption may not be conditional. 
  

	Section 3.05	Deposit of Redemption Price. 

 At least one Business Day prior to
the redemption date, the Company shall deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption price of and accrued interest on all Notes to be redeemed on that date. The Trustee or the Paying Agent shall promptly
return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption price of, and accrued interest on, all Notes to be redeemed. 

If the Company complies with the provisions of the preceding paragraph, on and after the redemption date, interest shall cease to accrue on
the Notes or the portions of Notes called for redemption. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure of the Company to comply with the preceding paragraph, interest shall be paid on
the unpaid principal, from the redemption date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01 hereof. 

 

	Section 3.06	Notes Redeemed in Part. 

 Upon surrender of a Note that is redeemed
in part, the Company shall issue and, upon the Company’s written request, the Trustee shall authenticate for the Holder, or transfer by book-entry, at the expense of the Company, a new Note equal in principal amount to the unredeemed portion of
the Note surrendered. 
 No Notes of $2,000 or less can be redeemed in part (or with respect to Notes of any Series issuable in other
denominations pursuant to Section 2.02(j), the minimum denomination for each Series and integral multiples thereof). 
 ARTICLE 4 

COVENANTS 
  

	Section 4.01	Payment of Principal and Interest. 

 The Company covenants and
agrees for the benefit of the Holders of each Series of Notes that it will pay or cause to be paid the principal of, premium, if any, and interest on such Series of Notes on the dates and in the manner provided in such Notes. Principal, premium, if
any, and interest on any Series of Notes will be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money deposited by the Company in
immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest then due. 
  

	Section 4.02	Maintenance of Office or Agency. 

 The Company covenants and agrees
for the benefit of the Holders of each Series of Notes that it will maintain an office or agency (which may be an office of the Trustee for such Notes or an affiliate of the Trustee, Registrar for such Notes or co-registrar) where Notes may be
surrendered for registration of transfer or for exchange and where notices and demands to or upon the Company in respect of such Notes and this Indenture may be served. The Company will give prompt written notice to the Trustee for such Notes of the
location, and any change in the location, of such office or agency. If at any time the Company fails to maintain any such required office or agency or fails 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. 

  
 14 

 With respect to each Series of Notes, the Company hereby designates the Corporate Trust Office of
the Trustee as one such office or agency of the Company in accordance with Section 2.04. 
  

	Section 4.03	Reports. 

 The Company will at all times comply with TIA
§ 314(a). Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 

 

	Section 4.04	Compliance Certificate. 

 The Company and each guarantor of any
Series of Notes (to the extent that such guarantor is so required under the TIA) shall deliver to the Trustee with respect to such Series, within 120 days after the end of each fiscal year, an Officer’s Certificate signed by the principal
executive officer, the principal financial officer or the principal accounting officer, stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing
Officer with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to the Officer signing such certificate, that to the best of his or her knowledge the
Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or
Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and that to the best of his or her
knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and what action the Company
is taking or proposes to take with respect thereto. 
  

	Section 4.05	Taxes. 

 The Company will pay, and will cause each of its
Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material
respect to the Holders of the Notes. 
  

	Section 4.06	Stay, Extension and Usury Laws. 

 The Company covenants (to the
extent that it may lawfully do so) that it will not, and each guarantor of such Notes will not, at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted,
now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company and each of such guarantors (to the extent that it may lawfully do so), as applicable, hereby expressly waives all benefit or
advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee for such Notes, but will suffer and permit the execution of every such power as
though no such law has been enacted. 
  

	Section 4.07	Corporate Existence. 

 Subject to Articles 5 hereof, the Company
shall do or cause to be done all things necessary to preserve and keep in full force and effect: 
 (a) the corporate, partnership or other
existence of itself and each of its Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary; and 

  
 15 

 (b) the rights (charter and statutory), licenses and franchises of the Company and its
Subsidiaries; provided, however, that the Company shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any of its Subsidiaries, if an Officer shall determine that
the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any material respect to the Holders of the Notes. 

ARTICLE 5 
 SUCCESSORS

  

	Section 5.01	Merger, Consolidation, or Sale of Assets. 

 The Company shall not,
directly or indirectly: 
 (a) merge or consolidate with or into another Person or Persons; or 

(b) sell, convey, transfer, lease or otherwise dispose of all or substantially all of the properties or assets of the Company and its
Subsidiaries, taken as a whole, in one or more related transactions, to another Person or Persons, unless: 
 (1) either:

 (A) the transaction is a merger or consolidation and the Company is the surviving corporation; or 

(B) the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale,
conveyance, transfer, lease or other disposition has been made is a corporation, limited liability company, partnership, trust or other entity organized and existing under the laws of the United States, any state of the United States or the District
of Columbia and expressly assumes all the obligations of the Company under the Notes and this Indenture pursuant to a supplemental indenture in form reasonably satisfactory to the Trustee; 

(2) immediately after giving effect to such transaction and treating the Company’s obligations in connection with or as a
result of such transaction as having been incurred as of the time of such transaction, no Default or Event of Default shall have occurred and be continuing; and 

(3) the Company or the surviving entity shall have delivered to the Trustee (a) an Officer’s Certificate stating that the
conditions in (1) and (2) above have been satisfied and any other conditions precedent in this Indenture relating to such transaction have been satisfied and (b) an Opinion of Counsel stating that the conditions in (1) above have been satisfied and
any other conditions precedent in this Indenture relating to such transaction have been satisfied. 
  

	Section 5.02	Successor Corporation Substituted. 

 Upon any merger or
consolidation, or any sale, conveyance, transfer, lease or other disposition of all or substantially all of the properties or assets of the Company and its Subsidiaries, taken as a whole, in a transaction that is subject to, and that complies with
the provisions of, Section 5.01 hereof, the successor Person into which the Company is merged or formed by such consolidation or to which such sale, conveyance, transfer, lease or other disposition is made shall succeed to, and be substituted for
(so that from and after the date of such merger, consolidation, sale, conveyance, transfer, lease or other disposition, the provisions of this Indenture referring to the “Company” shall refer instead to the successor Person and not to the
Company), and may exercise every right and power of the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein; provided, however, that the predecessor Company shall not be
relieved from the obligation to pay the principal of and interest on any Series of Notes except in the case of a sale of all of the assets of the Company and its Subsidiaries, taken as a whole, in a transaction that is subject to, and that complies
with the provisions of, Section 5.01 hereof. 

  
 16 

 ARTICLE 6 

DEFAULTS AND REMEDIES 
  

	Section 6.01	Events of Default. 

 “Event of Default,” wherever
used herein with respect to Notes of any Series, means any one of the following events, unless in the establishing Board Resolution, supplemental indenture or Officer’s Certificate, it is provided that such Series shall not have the benefit of
said Event of Default: 
 (a) default in the payment of any interest on any Note of that Series when it becomes due and payable, and
continuance of such default for a period of 30 days; or 
 (b) default in payment when due of the principal of, or premium, if any, on any
Note of that Series; or 
 (c) failure on the part of the Company to comply with Article 5; 

(d) default in the performance or breach of any covenant or warranty of the Company in this Indenture or in any Board Resolution, supplemental
indenture or Officer’s Certificate with respect to such Series (other than a covenant or warranty that has been included in this Indenture or a Board Resolution, supplemental indenture or Officer’s Certificate solely for the benefit of
Series of Notes other than that Series), which default continues uncured for a period of 90 days after (i) the Company receives written notice from the Trustee for such Notes or (ii) the Company and the Trustee receive written notice from Holders of
not less than 25% in aggregate principal amount of Notes of that Series outstanding; or 
 (e) the Company or any of its Significant
Subsidiaries: 
 (1) commences a voluntary case in bankruptcy, 

(2) consents to the entry of an order for relief against it in an involuntary bankruptcy case, 

(3) applies for or consents to the appointment of any custodian, receiver, trustee, conservator, liquidator, rehabilitator or
similar officer of it or a Significant Subsidiary or for all or substantially all of any of its property, 
 (4) makes a
general assignment for the benefit of its creditors, or 
 (5) generally is unable to pay its debts as they become due; 

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

(1) is for relief against the Company or any of its Significant Subsidiaries; 

(2) appoints a custodian of the Company or any of its Significant Subsidiaries or for all or substantially all of the property
of the Company or any of its Significant Subsidiaries; or 
 (3) orders the winding up or liquidation of the Company or any
of its Significant Subsidiaries; 
 and the order or decree remains unstayed and in effect for 60 consecutive days; or 

(g) any other Event of Default provided with respect to Notes of that Series, which is specified in a Board Resolution, a supplemental
indenture hereto or an Officer’s Certificate, in accordance with Section 2.02. 
 The Company shall deliver to the Trustee promptly
after the occurrence thereof, written notice in the form of an Officer’s Certificate of any event which with the giving of notice and the lapse of time would become an Event of Default under clause (c), (d) or (g), its status and what action
the Company is taking or proposes to take with respect thereto. 

  
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	Section 6.02	Acceleration. 

 If an Event of Default with respect to Notes of any
Series at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.01(e) or (f)) (in either case with respect to the Company) then in every such case the Trustee or the Holders of not less than 25% in
aggregate principal amount of the outstanding Notes of that Series may declare the principal amount (or, if any Notes of that Series are Discount Notes, such portion of the principal amount as may be specified in the terms of such Notes) of and
accrued and unpaid interest, if any, on all of the Notes of that Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or
specified amount) and accrued and unpaid interest, if any, shall become immediately due and payable. If an Event of Default specified in Section 6.01(e) or (f) (in either case with respect to the Company) shall occur, the principal amount (or
specified amount) of and accrued and unpaid interest, if any, on all outstanding Notes shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 

At any time after such a declaration of acceleration with respect to any Series has been made, the Holders of a majority in principal amount
of the outstanding Notes of that Series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if the rescission and annulment would not conflict with any judgment or decree already rendered
and if all existing Events of Default with respect to that Series (except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or waived and all sums paid or advanced by the Trustee
hereunder and the reasonable compensation expenses and disbursements of the Trustee and its agents and counsel have been paid. 
 No such
rescission shall affect any subsequent Event of Default or impair any right consequent thereon. 
  

	Section 6.03	Other Remedies. 

 If an Event of Default with respect to Notes of
any Series at the time outstanding occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and interest on such Notes or to enforce the performance of any provision of such Notes or
this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Holder of a Note in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All
remedies are cumulative to the extent permitted by law. 
  

	Section 6.04	Waiver of Past Defaults. 

 Prior to the acceleration of the maturity
of the Notes of any Series as provided in Section 6.02, the Holders of a majority in aggregate principal amount of the Notes of any Series then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes of such Series
waive any existing Default or Event of Default with respect to such Series and its consequences under this Indenture except (i) a continuing Default or Event of Default in the payment of premium or interest on, or the principal of, the Notes of such
Series (including in connection with an offer to purchase) or (ii) a Default or Event of Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Holder affected thereby. Upon any such waiver, such
Default or Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of
Default or impair any right consequent thereon. 

  
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	Section 6.05	Control by Majority. 

 Holders of a majority in aggregate principal
amount of the then outstanding Notes of any Series may in writing direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it, subject to Section
7.02(f). However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the Trustee determines may be unduly prejudicial to the rights of other Holders of Notes of such Series (it being understood that
the Trustee does not have an affirmative duty to ascertain whether any such directions are unduly prejudicial to such Holders) or that may involve the Trustee in personal liability. The Trustee may take any other action deemed proper by the Trustee
that is not inconsistent with such direction. 
  

	Section 6.06	Limitation on Suits. 

 A Holder of any Series of Notes may pursue a
remedy with respect to this Indenture or the Notes only if: 
 (a) the Holder of a Note gives to the Trustee written notice of a continuing
Event of Default; 
 (b) the Holders of at least 25% in aggregate principal amount of the then outstanding Notes of such Series make a
written request to the Trustee to pursue the remedy; 
 (c) such Holder of a Note or Holders of Notes offer and, if requested, provide to
the Trustee security or indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (d) the Trustee does not comply
with the request within 60 days after receipt of the request and the offer and, if requested, the provision of security or indemnity; and 

(e) during such 60-day period the Holders of a majority in aggregate principal amount of the then outstanding Notes of such Series do not give
the Trustee a direction inconsistent with the request. 
 A Holder of any Series of Notes may not use this Indenture to prejudice the rights
of another Holder of Notes or to obtain a preference or priority over another Holder of Notes. 
  

	Section 6.07	Rights of Holders of Notes to Receive Payment. 

 Notwithstanding any
other provision of this Indenture, the right of any Holder of a Note to receive payment of principal, premium, if any, and interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to
purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 
  

	Section 6.08	Collection Suit by Trustee. 

 If an Event of Default specified in
Section 6.01 (a) or (b) hereof occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium, if any, and interest
remaining unpaid on, the Notes and interest on overdue principal and, to the extent lawful, interest and 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. 
  

	Section 6.09	Trustee May File Proofs of Claim. 

 The Trustee for each Series of
Notes is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel) and the Holders of the Notes of such Series allowed in any judicial proceedings relative to the Company (or any other obligor upon the Notes of such Series), its creditors or its property and shall be entitled
and empowered to collect, 

  
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receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder of such Series
to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders of such Series, 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 any other amounts due the Trustee under Section 7.07 hereof. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all
distributions, dividends, money, securities and other properties that the Holders of such Series may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein
contained 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 Notes or the rights of any Holder, or to
authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
  

	Section 6.10	Priorities. 

 If the Trustee collects any money or property with
respect to a Series of Notes pursuant to this Article 6, or, after an Event of Default, any money or other property distributable in respect of the Company’s obligations under this Indenture, it shall pay out the money or property in the
following order: 
 First: to the Trustee, its agents and attorneys for amounts due under Section 7.07 hereof
applicable to the Notes of such Series, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

Second: to Holders of Notes of such Series for amounts due and unpaid on the Notes for principal, premium, if any,
and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest, respectively; and 

Third: to the Company or to such party as a court of competent jurisdiction shall direct.

The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. 

 

	Section 6.11	Undertaking for Costs. 

 In any suit for the enforcement of any
right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the
party litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder of a Note pursuant to Section 6.07 hereof, or a suit by Holders or group of Holders of more than 10% in principal amount of the then outstanding Notes of any
Series. 
  

	Section 6.12	Restoration of Rights and Remedies. 

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

  
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 ARTICLE 7 

TRUSTEE 
  

	Section 7.01	Duties of Trustee. 

 (a) If an Event of Default has occurred and is
continuing, the Trustee will exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such
person’s own affairs. 
 (b) Except during the continuance of an Event of Default the duties of the Trustee will be determined solely
by the express provisions of this Indenture and the Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the
Trustee. 
 (c) In the absence of bad faith on its part, the Trustee may conclusively rely, 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. However, the Trustee will examine the certificates and opinions 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 stated thereon). 

(d) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (1) this paragraph does not limit the effect of paragraph (b) of this Section 7.01; 

(2) the Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved
that the Trustee was negligent in ascertaining the pertinent facts; 
 (3) the Trustee will not be liable with respect to any
action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05 hereof; and 

(4) no provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability. The Trustee
will be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such Holder has offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense.

 (e) Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to
paragraphs (a), (b), (c) and (d) of this Section 7.01. 
 (f) The Trustee will not be liable for interest on any money received by it except
as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. The Trustee shall not be required to give any bond or surety in respect of the
performance of its powers or duties hereunder. The permissive rights or powers of the Trustee to do things enumerated in this Indenture shall not be construed as a duty of the Trustee. 

 

	Section 7.02	Rights of Trustee. 

 (a) The Trustee may conclusively rely upon any
document (whether in its original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document. 

(b) Before the Trustee acts or refrains from acting or as specifically called for in this Indenture, it may require an Officer’s
Certificate or an Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. The Trustee may consult with counsel and the
written advice of such counsel or any Opinion of Counsel will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

  
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 (c) The Trustee may act through its attorneys and agents and will not be responsible for the
misconduct or negligence of any attorney or agent appointed with due care. 
 (d) The Trustee will not be liable for any action it takes or
omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 
 (e)
Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company will be sufficient if signed by an Officer of the Company. Any resolution of the Board of Directors may be sufficiently evidenced by
a Board Resolution. 
 (f) The Trustee will 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 unless such Holders have offered to the Trustee indemnity or security satisfactory to the Trustee against the losses, liabilities and expenses that might be incurred by it in compliance with such
request or direction. 
 (g) In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its
obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services, or other unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication
facility; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

(h) 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. 

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

(j) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual
knowledge thereof or unless written notice of a Default or Event of Default from the Company or by the Holders of at least 25% in aggregate principal amount of the then outstanding Notes of such Series is received by the Trustee at the Corporate
Trust Office of the Trustee, and such notice references the Notes and this Indenture. 
 (k) The Trustee may request that the Company
deliver a certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture. 

(l) The Trustee will not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness, or other paper or document, or inquire as to the performance by the Company or any guarantor of any of their covenants in
this Indenture, 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 will be entitled
to examine the books, records, and premises of the Company or any such guarantor, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or
investigation. 

  
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	Section 7.03	Individual Rights of Trustee. 

 The Trustee in its individual or any
other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any Affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any
conflicting interest as defined in the TIA it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as trustee (if this Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like
rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof. 
  

	Section 7.04	Trustee’s Disclaimer. 

The Trustee will not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, it shall not
be accountable for the Company’s use of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any provision of this Indenture, it will not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture other
than its certificate of authentication. Under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by any Notes. 
  

	Section 7.05	Notice of Defaults. 

 If a Default or Event of Default occurs and is
continuing and if it is known to the Trustee, the Trustee will mail to Holders of Notes a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of,
premium, if any, or interest on, any Note, the Trustee may withhold the notice from Holders of the Notes if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the
Holders of the Notes. 
  

	Section 7.06	Reports by Trustee to Holders of the Notes. 

 (a) Within 60 days
after each December 15 beginning with the December 15 following the date of this Indenture, and for so long as Notes remain outstanding, the Trustee will mail to the Holders of the Notes a brief report dated as of such reporting date that
complies with TIA § 313(a) (but if no event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date, no report need be transmitted). The Trustee also will comply with TIA
§ 313(b)(2). The Trustee will also transmit by mail all reports as required by TIA § 313(c). 
 (b) A copy of each
report at the time of its mailing to the Holders of Notes will be mailed by the Trustee to the Company and filed by the Trustee with the SEC and each stock exchange on which the Notes are listed in accordance with TIA § 313(d). The
Company will promptly notify the Trustee when the Notes are listed on any stock exchange or delisted therefrom. 
  

	Section 7.07	Compensation and Indemnity. 

 (a) The Company will pay to the
Trustee from time to time such compensation for its acceptance of this Indenture and services hereunder as the Trustee and the Company may agree from time to time in writing. The Trustee’s compensation will not be limited by any law on
compensation of a trustee of an express trust. The Company will reimburse the Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such
expenses will include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 
 (b) The Company
will indemnify the Trustee, its officers, directors, employees, representatives and agents from and against any and all losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance or administration of its
duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Company (including this Section 7.07) and defending itself against any claim (whether asserted by the Company, any Holder or any other Person) or
liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent any such loss, liability or expense may be 

  
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attributable to its negligence or willful misconduct as finally adjudicated by a court of competent jurisdiction. The Trustee will notify the Company promptly of any claim for which it may seek
indemnity. Failure by the Trustee to so notify the Company will not relieve the Company of its obligations hereunder. The Company will defend the claim and the Trustee will cooperate in the defense. The Trustee may have separate counsel and the
Company will pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent will not be unreasonably withheld. 

(c) The obligations of the Company under this Section 7.07 will survive the resignation or removal of the Trustee and the satisfaction and
discharge of this Indenture. 
 (d) To secure the Company’s payment obligations in this Section 7.07, the Trustee will have a Lien
prior to the Notes on all money or property held or collected by the Trustee. Such Lien will survive the resignation or removal of the Trustee and the satisfaction and discharge of this Indenture. 

(e) When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(e) or (f) hereof occurs, the
expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. 

(f) The Trustee will comply with the provisions of TIA § 313(b)(2) to the extent applicable. 

(g) “Trustee” for the purposes of this Section 7.07 shall include any predecessor Trustee and the Trustee in each of its
capacities hereunder and each agent, custodian and other person employed to act hereunder; provided, however, that the negligence or willful misconduct of any Trustee hereunder shall not affect the rights of any other Trustee
hereunder. 
  

	Section 7.08	Replacement of Trustee. 

 (a) A resignation or removal of the
Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.08. 

(b) The Trustee may resign in writing at any time and be discharged from the trust hereby created with respect to one or more Series of Notes
by so notifying the Company with 30 days prior notice. The Holders of a majority in aggregate principal amount of the then outstanding Notes of such Series may remove the Trustee by so notifying the Trustee and the Company with 30 days prior notice
in writing. The Company may remove the Trustee with respect to one or more Series of Notes with 30 days prior written notice if: 

(1) the Trustee fails to comply with Section 7.10 hereof; 

(2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any
Bankruptcy Law; 
 (3) a custodian or public officer takes charge of the Trustee or its property; or 

(4) the Trustee becomes incapable of acting. 

(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company will promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes of such Series may appoint a successor Trustee to replace the successor Trustee
appointed by the Company. 
 (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is
removed, the retiring Trustee, the Company, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes of such Series may petition any court of competent jurisdiction, at the expense of the Company, for the
appointment of a successor Trustee. 

  
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 (e) If the Trustee, after written request by any Holder who has been a Holder for at least six
months, fails to comply with Section 7.10 hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the
resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders.
The retiring Trustee will promptly transfer all properly held by it as Trustee to the successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof.
Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof will continue for the benefit of the retiring Trustee. 

 

	Section 7.09	Successor Trustee by Merger, etc. 

 If the Trustee consolidates,
merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act will be the successor Trustee. 

 

	Section 7.10	Eligibility; Disqualification. 

 There will at all times be a
Trustee hereunder that is a corporation organized and doing business under the laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or
examination by federal or state authorities and that has a combined capital and surplus of at least $100.0 million as set forth in its most recent published annual report of condition. 

This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(l), (2) and (5). The Trustee is
subject to TIA § 310(b). There shall be excluded from the operation of TIA § 310(b)(1) any series of Notes under this Indenture if the requirements for such exclusion set forth in TIA § 310(b)(1) are met. 

 

	Section 7.11	Preferential Collection of Claims Against Company. 

 The Trustee is
subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein. 

ARTICLE 8 
 LEGAL
DEFEASANCE AND COVENANT DEFEASANCE 
  

	Section 8.01	Option to Effect Legal Defeasance or Covenant Defeasance. 

 The
Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officer’s Certificate, elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the
conditions set forth below in this Article 8. 

  
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	Section 8.02	Legal Defeasance and Discharge. 

 Upon the Company’s exercise
under Section 8.01 hereof of the option applicable to this Section 8.02, the Company will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from its obligations with respect to all
outstanding Notes of such Series on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company will be deemed to have paid and discharged
the entire Indebtedness represented by the outstanding Notes of such Series, which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in clauses
(a) and (b) below, and to have satisfied all their other obligations under such Notes and this Indenture (and the Trustee, on written demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for
the following provisions which will survive until otherwise terminated or discharged hereunder: 
 (a) the rights of Holders of outstanding
Notes to receive payments in respect of the principal of, or interest or premium, if any, on, such Notes when such payments are due from the trust referred to in Section 8.04 hereof; 

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

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

 (d) this Article 8. 

Subject to compliance with this Article 8, the Company may exercise its option under this Section 8.02 notwithstanding the prior exercise of
its option under Section 8.03 hereof. 
  

	Section 8.03	Covenant Defeasance. 

 Upon the Company’s exercise under
Section 8.01 hereof of the option applicable to this Section 8.03, the Company and each of the guarantors, if any, will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from their obligations under the
covenants contained in Section 4.03 and any other covenants specified in the applicable Board Resolutions, supplemental indenture or Officer’s Certificate as being subject to covenant defeasance pursuant to this Section 8.03, in each case, with
respect to the outstanding Notes of the applicable Series on and after the date the conditions set forth in Section 8.04 are satisfied (hereinafter, “Covenant Defeasance”), and the Notes shall thereafter be deemed not
“outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all
other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes of such Series, the Company may omit
to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference
in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture
and such Notes shall be unaffected thereby. In addition, upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03 hereof, subject to the satisfaction of the conditions set forth in Section 8.04 hereof,
(i) the failure to comply with any such covenants shall not constitute an Event of Default pursuant to Section 6.01(d) and (ii) Section 6.01(f) (with respect to Significant Subsidiaries only) and (g) (with respect to Significant Subsidiaries only)
shall not constitute an Event of Default. 
  

	Section 8.04	Conditions to Legal or Covenant Defeasance. 

 In order to exercise
either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof: 
 (a) the Company must irrevocably deposit with the
Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be sufficient, in the written opinion of a nationally recognized investment bank,
appraisal firm, or firm of independent public accountants delivered to the Trustee, to pay the principal of, premium, if any, and interest on, the outstanding Notes on the stated date for payment thereof or on the applicable redemption date, as the
case may be, and the Company must specify whether the Notes are being defeased to such stated date for payment or to a particular redemption date; 

(b) in the case of an election under Section 8.02 hereof, the Company must deliver to the Trustee an Opinion of Counsel confirming that: 

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

  
 26 

 (2) since the date of this Indenture, there has been a change in the applicable
federal income tax law, 
 in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the beneficial
owners of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as
would have been the case if such Legal Defeasance had not occurred; 
 (c) in the case of an election under Section 8.03 hereof, the Company
must deliver to the Trustee an Opinion of Counsel confirming that the beneficial owners of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to
federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

(d) no Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default
resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which the Company is a party or by which the Company is bound;

 (e) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material
agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; 

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

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

	Section 8.05	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions. 

Subject to Section 8.06 hereof, all money and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee
(or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of the outstanding Notes of any Series will be held in trust and applied by the Trustee, in
accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due
and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. 

The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable
Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes of the
applicable Series. 
 Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to the Company from time
to time upon the request of the Company any money or non-callable Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(a) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant
Defeasance. 

  
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	Section 8.06	Repayment to Company. 

 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, premium, if any, or interest on, any Series of Notes and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and
payable shall, subject to applicable abandoned property law, be paid to the Company on its request or (if then held by the Company) will be discharged from such trust; and the Holder of such Note will thereafter be permitted to 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, will thereupon cease; provided, however, that the Trustee or such
Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in The New York Times and The Wall Street Journal (national edition), notice that such money remains
unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such notification or publication, any unclaimed balance of such money then remaining will be repaid to the Company. 

 

	Section 8.07	Reinstatement. 

 If the Trustee or Paying Agent is unable to apply
any U.S. dollars or non-callable Government Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, then the Company’s and any applicable guarantors’ obligations under this Indenture and the applicable Notes and the guarantees will be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03
hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of,
premium, if any, or interest on, any Note following the reinstatement of its obligations, the Company will be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

ARTICLE 9 
 AMENDMENT,
SUPPLEMENT AND WAIVER 
  

	Section 9.01	Without Consent of Holders of Notes. 

 Notwithstanding Section 9.02
of this Indenture, the Company and the Trustee may amend or supplement this Indenture or the Notes of one or more Series without the consent of any Holder of Note: 

(a) to cure any ambiguity or to correct or supplement any provision contained herein or in any supplemental indenture that may be defective or
inconsistent with any other provision contained herein or in any supplemental indenture, or to conform the provisions of this Indenture to the description of the Notes contained in the prospectus or other offering document pursuant to which the
Notes of one or more Series were sold, as evidenced by an Officer’s Certificate stating that such text constitutes an unintended conflict with the description of the corresponding provision in the offering document; 

(b) to provide for uncertificated Notes in addition to or in place of certificated Notes; 

(c) to provide for the assumption of the Company’s obligations to the Holders of the Notes by a successor to the Company pursuant to
Article 5 hereof; 
 (d) to make any change that would provide any additional rights or benefits to the Holders of all or any Series of
Notes or that does not adversely affect the rights hereunder of any Holder in any material respect, as evidenced by an Officer’s Certificate; 

(e) to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 

(f) to provide for the issuance of and establish the form and terms and conditions of Notes of any Series as permitted by this Indenture; 

  
 28 

 (g) to add guarantees with respect to the Notes of any Series or to provide security for the
Notes of any Series; or 
 (h) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to
the Notes 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. 

Upon the request of the Company accompanied by a Board Resolution authorizing the execution of any such amended or supplemental indenture, and
upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Company in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any
further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Indenture or
otherwise. 
  

	Section 9.02	With Consent of Holders of Notes. 

 The Company and the Trustee may
enter into a supplemental indenture with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Notes of each Series affected by such supplemental indenture (including consents obtained in
connection with a tender offer or exchange offer for the Notes of such Series), for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of
modifying in any manner the rights of the Holders of Notes of each such Series. Except as otherwise provided herein, the Holders of at least a majority in aggregate principal amount of the outstanding Notes of each Series, by notice to the Trustee
(including consents obtained in connection with a tender offer or exchange offer for the Notes of such Series) may waive compliance by the Company with any provision of this Indenture or the Notes with respect to such Series. 

It shall not be necessary for the consent of the Holders of Notes under this Section 9.02 to approve the particular form of any proposed
supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof. Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or
supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee
will join with the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case
the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture. 
 After a supplemental
indenture or waiver under this section becomes effective, the Company shall mail to the Holders of Notes affected thereby a notice briefly describing the supplemental indenture or waiver. Any failure by the Company to mail such notice, or any defect
therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver. However, without the consent of each Holder affected, an amendment or waiver under this Section 9.02 may not, with respect to any
Notes held by a non-consenting Holder: 
 (a) reduce the principal amount, any premium or change the Stated Maturity of any Note or alter or
waive any of the provisions with respect to the redemption or repurchase of the Notes; 
 (b) reduce the rate (or alter the method of
computation) of or extend the time for payment of interest, including defaulted interest, on any Note; 
 (c) waive a Default or Event of
Default in the payment of principal of or premium, if any, or interest on the Notes, except a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding Notes of such Series
with respect to a nonpayment default and a waiver of the payment default that resulted from such acceleration; 
 (d) make the principal of
or premium, if any or interest on any Note payable in currency other than that stated in the Notes; 

  
 29 

 (e) change any place of payment where the Notes of any series or interest thereon is payable;

 (f) make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders of the Notes to
receive payments of principal of or premium, interest, if any, on the Notes and to institute suit for the enforcement of any such payments; 

(g) make any change in the foregoing amendment and waiver provisions; or 

(h) reduce the percentage in principal amount of any Notes, the consent of the Holders of which is required for any of the foregoing
modifications or otherwise necessary to modify or amend this Indenture or to waive any past Defaults. 
  

	Section 9.03	Compliance with Trust Indenture Act. 

 Every amendment to this
Indenture or the Notes of one or more Series will be set forth in a supplemental indenture hereto that complies with the TIA as then in effect. 
  

	Section 9.04	Revocation and Effect of Consents. 

 Until an amendment or waiver
becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation
of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the amendment or waiver becomes
effective. An amendment or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 
  

	Section 9.05	Notation on or Exchange of Notes. 

 The Trustee may place an
appropriate notation about an amendment or waiver on any Note of any Series thereafter authenticated. The Company in exchange for Notes of that Series may issue and the Trustee shall authenticate upon request new Notes of that Series that reflect
the amendment or waiver. 
 Failure to make the appropriate notation or issue a new Note will not affect the validity and effect of such
amendment or waiver. 
  

	Section 9.06	Trustee to Sign Amendments, etc. 

 In executing, or accepting the
additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 7.01) shall be fully protected
in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture, and an Opinion of Counsel stating that it will be the legal, valid and
binding upon the Company in accordance with its terms, subject to customary exceptions. The Trustee shall sign all supplemental indentures, except that the Trustee need not sign any supplemental indenture that adversely affects its rights. 

  
 30 

 ARTICLE 10 

SATISFACTION AND DISCHARGE 
  

	Section 10.01	Satisfaction and Discharge. 

 This Indenture will be discharged and
will cease to be of further effect as to a Series of Notes issued hereunder, when: 
 (a) either: 

(1) all such Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and
Notes for whose payment money has theretofore been deposited in trust and thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or 

(2) all such Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the
sending of a notice of redemption or otherwise or will become due and payable within one year and the Company has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders of such
Notes, cash in U.S. dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not
delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to the date of maturity or redemption; 
 (b)
no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or
violation of, or constitute a default under, any other material instrument to which the Company or any guarantor, as applicable, is a party or by which the Company, or any guarantor, as applicable, is bound; 

(c) the Company or any guarantor of such Notes has paid or caused to be paid all sums payable by it under this Indenture; and 

(d) the Company has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment of
the Notes at maturity or on the redemption date, as the case may be. 
 In addition, the Company must deliver an Officer’s Certificate and an Opinion
of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied. 
 Notwithstanding the
satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to subclause (2) of clause (a) of this Section 10.01, the provisions of Sections 10.02 and 8.06 hereof will survive. In addition, nothing in this
Section 10.01 will be deemed to discharge those provisions of Section 7.07 hereof, that, by their terms, survive the satisfaction and discharge of this Indenture. After the conditions to discharge contained in this Article Ten have been satisfied,
and the Company has paid or caused to be paid all other sums payable hereunder by the Company, and delivered to the Trustee an Officer’s Certificate and Opinion of Counsel, each stating that all conditions precedent to satisfaction and
discharge have been satisfied, the Trustee upon Company request shall acknowledge in writing the discharge of the obligations of the Company (except for those surviving obligations specified in this Section 10.01 and the rights, powers, trusts,
duties and immunities of the Trustee hereunder and the Company’s obligations in connection therewith). 
  

	Section 10.02	Application of Trust Money. 

 Subject to the provisions of Section
8.06 hereof, all money deposited with the Trustee pursuant to Section 10.01 hereof shall be held in trust and applied by it, in accordance with the provisions of the Notes with respect to which such deposit was made and this Indenture, to the
payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such
money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law. 

If the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with Section 10.01 hereof by reason of any
legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s and any applicable guarantor’s obligations under this Indenture
and the applicable Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 10.01 hereof; provided that if the Company has made any payment of principal of, premium, if any, or interest on, any Notes because
of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Securities held by the Trustee or Paying Agent. 

  
 31 

 ARTICLE 11 

MISCELLANEOUS 
  

	Section 11.01	Trust Indenture Act Controls. 

 If any provision of this Indenture
limits, qualifies or conflicts with the duties imposed by TIA § 318(c), the imposed duties will control. 
  

	Section 11.02	Notices. 

 Any notice or communication by the Company or the Trustee
to the others is duly given if in writing and delivered in Person or by first class mail (registered or certified, return receipt requested), facsimile transmission or overnight air courier guaranteeing next day delivery, to the others’
address: 
 If to the Company: 

Horizon Global Corporation 
 2600
West Big Beaver Road, Suite 500 
 Troy, Michigan 48084 

Attention: Legal Director 

Facsimile No.: (248) 480-4175 

Telephone No.: (248) 593-8820 

With a copy to: 
 Jones Day 

North Point 
 901 Lakeside Avenue

 Cleveland, Ohio 44114 

Attention: Michael J. Solecki, Esq. 

Facsimile No.: (216) 579-0212 

Telephone No.: (216) 586-7103 

If to the Trustee: 
 Wells Fargo
Bank, National Association 
 150 East 42nd Street, 40th Floor 

New York, New York 10017 

Attention: Corporate, Municipal and Escrow Services 

Facsimile No.: (917) 260-1594 

Telephone No.: (917) 260-1539 

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

 All notices and communications (other than those sent to Holders) will be deemed to have been duly given: at the time delivered by hand,
if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight
air courier guaranteeing next day delivery. 

  
 32 

 Any notice or communication to a Holder will be mailed by first class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Any notice or communication will also be so mailed to any Person described in TIA
§ 313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other Holders. Notwithstanding any other provision of this
Indenture or any Global Note, where this Indenture or any Global Note provides for notice of any event (including any notice of redemption or repurchase) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently
given if given to the Depositary (or its designee) pursuant to the Applicable Procedures, including by electronic mail in accordance with the standing instructions from the Depositary. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee
receives it. 
 If the Company mails a notice or communication to Holders, it will mail a copy to the Trustee and each Agent at the same
time. 
 The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf,
facsimile transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such written instructions, subsequent to such transmission of written instructions, shall provide the originally executed
instructions or directions to the Trustee in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the party providing such instructions or directions. If the party elects to
give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed
controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent
with a subsequent written instruction. The party providing electronic instructions 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 or interception and misuse by third parties. 
  

	Section 11.03	Communication by Holders of Notes with Other Holders of Notes. 

Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the Notes.
The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 
  

	Section 11.04	Certificate and Opinion as to Conditions Precedent. 

 Upon any
request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee (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): 

(1) an Officer’s Certificate stating that, in the opinion of the signers (who may rely upon an Opinion of Counsel as to
matters of law), all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been satisfied; and 

(2) an Opinion of Counsel stating that, in the opinion of such counsel (who may rely upon an Officer’s Certificate as to
matters of fact), all such conditions precedent and covenants have been satisfied. 

  
 33 

	Section 11.05	Statements Required in Certificate or Opinion. 

 Each certificate or
opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) must comply with the provisions of TIA § 314(e) and must include: 

(1) a statement that the Person making such certificate or opinion has read such covenant or condition; 

(2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of such Person, 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 satisfied; and 

(4) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied. 

 

	Section 11.06	Rules by Trustee and Agents. 

 Holders may make reasonable rules for
action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions. 
  

	Section 11.07	Calculation of Foreign Currency Amounts. 

 The calculation of the
U.S. dollar equivalent amount for any amount denominated in a foreign currency shall be the noon buying rate in the City of New York as certified by the Federal Reserve Bank of New York on the date on which such determination is required to be made
or, if such day is not a day on which such rate is published, the rate most recently published prior to such day. 
  

	Section 11.08	No Personal Liability of Directors, Officers, Employees and Shareholders. 

No past, present or future director, officer, employee, incorporator or shareholder of the Company, as such, will have any liability for any
obligations of the Company under the Notes, this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and
release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws. 
  

	Section 11.09	Governing Law. 

 THE INTERNAL LAW OF THE STATE OF NEW YORK WILL
GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES, AND THE GUARANTEES, IF ANY, WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED
THEREBY. 
  

	Section 11.10	No Adverse Interpretation of Other Agreements. 

 This Indenture may
not be used to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

 

	Section 11.11	Successors. 

 All agreements of the Company in this Indenture and
the Notes will bind its successors. All agreements of the Trustee in this Indenture will bind its successors. 
  

	Section 11.12	Severability. 

 In case any provision in this Indenture or in the
Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

  
 34 

	Section 11.13	Counterpart Originals. 

 The parties may sign any number of copies
of this Indenture. Each signed copy will be an original, but all of them together represent the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and
delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all
purposes. 
  

	Section 11.14	Table of Contents, Headings, etc. 

 The Table of Contents,
Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or
provisions hereof. 
  

	Section 11.15	Waiver of Jury Trial 

 EACH OF THE COMPANY AND THE TRUSTEE 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 NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

 

	Section 11.16	Patriot Act Compliance 

 The parties hereto acknowledge that in
accordance with Section 326 of the USA Patriot Act the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each
person or legal entity that establishes a relationship or opens an account, which information includes the name, address, tax identification number and formation documents and other information that will allow Trustee to identify the person or legal
entity in accordance with the USA Patriot Act. The parties to this Agreement agree that they will provide the Trustee with such information in order for the Trustee to satisfy the requirements of the USA Patriot Act. 

 

	Section 11.17	Foreign Account Tax Compliance Act (FATCA) 

 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”) to which a foreign financial institution, issuer,
trustee, paying agent, holder or other institution is or has agreed to be subject related to this Indenture, the Company agrees (i) to provide to the Trustee sufficient information about Holders or other applicable parties and/or transactions
(including any modification to the terms of such transactions) so as to enable the Trustee to determine whether it has tax related obligations under Applicable Law and (ii) that 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 for which the Trustee shall not have any liability. The terms of this section shall survive the termination of this Indenture. 

[Signatures on following page] 

  
 35 

 SIGNATURES 
  

							
	 Dated as of
[                    ]
	 		 	
			
		 		 	HORIZON GLOBAL CORPORATION
			
		 		 	By:                                   
                                 
		 		 	Name:
		 		 	Title:

							
			
		 		 	 WELLS FARGO BANK, NATIONAL

ASSOCIATION, as Trustee

			
		 		 	By:                                   
                                 
		 		 	Name:
		 		 	Title:

  
 [Signature Page to Indenture]

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