Document:

ck001641601-ex1013_109.htm

Exhibit 10.13

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LOAN AND SECURITY AGREEMENT

 

By and Between

 

 

RIVER FINANCIAL CORPORATION

 

and

 

SERVISFIRST BANK

 

August 9, 2021

 

 

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 LOAN AND SECURITY AGREEMENT

THIS LOAN AND SECURITY AGREEMENT (this “Agreement”) is made and entered into as of August 9, 2021, by and between RIVER FINANCIAL CORPORATION, a corporation organized under the laws of the State of Alabama (“Borrower”), and SERVISFIRST BANK, an Alabama banking corporation (“Lender”).

W I T N E S S E T H:

Borrower has requested that Lender extend to the Borrower a revolving line of credit in the maximum principal amount of up to $10,000,000 (the “Loan”), and Lender is willing to make the Loan upon the terms and conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the promises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, each intending to be legally bound hereby, agree as follows:

ARTICLE 1.DEFINITIONS

Section 1.01.  Defined Terms.  As used herein:

“Advance” means each loan of money or credit made to Borrower by Lender under the Commitment.

“Affiliate” or “Affiliates” shall mean any Person (i) which directly or indirectly through one or more intermediaries controls, or is controlled by, or is under common control with, Borrower, or (ii) five percent (5%) or more of the equity interest of which is held beneficially or of record by Borrower.  The term “control” means the possession, directly or indirectly, of the power to cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

“Agreement” means this Loan and Security Agreement, as amended or supplemented from time to time.

“Capital” means, with respect to the Subsidiary Bank, the “tier 1 capital” of the Subsidiary Bank, as reported on Schedule RC-R of the Subsidiary Bank’s most recent quarterly call report.

“Change in Control” means either (i) the acquisition by any Person or any group of Persons (within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended) of beneficial ownership, directly or indirectly, of 40% or more of the outstanding shares of voting stock of Borrower or (ii) Borrower ceases to own 100% of the outstanding shares of voting stock of the Subsidiary Bank.

“Collateral” is defined in Section 4.01 of this Agreement.

“Collateral Documents” means the documents specified in Section 3.01(B) - (D).

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“Commitment” means Lender’s commitment to lend to Borrower up to the sum of $10,000,000 in principal amount outstanding from time to time pursuant to, and subject to, the terms of this Agreement.

“Default” means any event described in Section 7.01.

“ERISA” means the Employee Retirement Security Act of 1974, as amended.

“Generally Accepted Accounting Principles” or “GAAP” means generally accepted principles of accounting in the United States in effect from time to time applied in a manner consistent with those used in preparing such financial statements as have theretofore been furnished to Lender by Borrower.

“Governmental Authority” means any nation or government, any state or other political subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, which has or asserts jurisdiction over Lender, Borrower or any of its Subsidiaries, or over the property of any of them.

“Indebtedness” means all items of indebtedness, obligation or liability, whether matured or unmatured, liquidated or unliquidated, direct or contingent, joint or several, including, but without limitation:

(A)All indebtedness guaranteed, directly or indirectly, in any manner, or endorsed (other than for collection or deposit in the ordinary course of business) or discounted with recourse;

(B)All indebtedness in effect guaranteed, directly or indirectly, through agreements, contingent or otherwise:

(1)to purchase such indebtedness; or

(2)to purchase, sell or lease (as lessee or lessor) property, products, materials or supplies or to purchase or sell services primarily for the purpose of enabling the debtor to make payment of such indebtedness or to assure the owner of the indebtedness against loss; or

(3)to supply funds to or in any other manner invest in the debtor.

(C)All indebtedness secured by (or for which the holder of such indebtedness has a right, contingent or otherwise, to be secured by) any mortgage, deed of trust, pledge, lien, security interest or other charge or encumbrance upon property owned or acquired subject thereto, whether or not the liabilities secured thereby have been assumed; and

(D)All indebtedness incurred as the lessee of goods or services under leases that, in accordance with Generally Accepted Accounting Principles, should not be reflected on the lessee’s balance sheet.

“Interest Rate” is defined in Section 2.05(A)(1) of this Agreement.

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“Laws” means all ordinances, statutes, rules, regulations, orders, injunctions, writs or decrees of any governmental or political subdivision or agency thereof, or any court or similar entity established by any thereof.

“Loan” has the meaning set forth in the recitals of this Agreement.

“Maturity Date” means the earlier of August 9, 2023, or the date the maturity of the Note is accelerated pursuant to Section 7.02 of this Agreement.

“Non-Performing Assets” means, with respect to the Subsidiary Bank, the sum of (a) the Subsidiary Bank’s loans and leases which are on nonaccrual status, (b) the Subsidiary Bank’s loans and leases which are at least ninety (90) days past due, (c) all other non-performing loans and leases of the Subsidiary Bank, (d) the other real estate owned by the Subsidiary Bank, and (e) all other non-performing assets of the Subsidiary Bank.

“Non-Use Fee” has the meaning set forth in Section 2.08 of this Agreement.

“Non-Performing Assets Ratio” means, with respect to the Subsidiary Bank, the ratio of the Subsidiary Bank’s Non-Performing Assets to the Subsidiary Bank’s Capital plus Reserves.

“Note” means the Revolving Note of even date herewith, in the principal amount of $10,000,000, made by Borrower to evidence Borrower’s obligation to repay the Loan and the interest thereon and includes any amendment to such Note and any promissory note given in extension or renewal of, or in substitution for, such Note evidencing Borrower’s obligation to repay the Loan.

“Obligations” means all of the following.

(A)The Obligation of Borrower to pay the principal of and interest on the Note in accordance with the terms thereof, and to satisfy all of its other liabilities to Lender, whether hereunder or otherwise (including, without limitation, under any swap or other hedging agreement made by Borrower with or in favor of Lender), whether now existing or hereafter incurred, matured or unmatured, direct or contingent, joint or several, including any extensions, modifications, renewals thereof and substitutions therefor.

(B)The Obligation of Borrower to repay to Lender all amounts advanced by Lender hereunder or otherwise on behalf of Borrower, including, but without limitation, advances for principal or interest payments to prior secured parties, mortgagees, or lienors, or for taxes, levies, insurance, rent, repairs to or maintenance or storage of any of the Collateral.

(C)The Obligation of Borrower to reimburse Lender, on demand, for all of Lender’s expenses and costs, including the reasonable fees and expenses of its counsel, in connection with the preparation, administration, amendment, modifications, or enforcement of this Agreement and the documents required hereunder, including, without limitation, any proceeding brought or threatened to enforce payment of any of the obligations referred to in the foregoing paragraphs (A) and (B).

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(D)The Obligation of Borrower to comply with the terms of this Agreement, the Note and the Collateral Documents.

“Origination Fee” means the fee payable by Borrower to Lender in an amount equal to five basis points (0.05%) of the Commitment which amount is agreed to be $5,000. 

“Person” means any individual, corporation, partnership, limited liability company, association, joint-stock company, trust, unincorporated organization, joint venture, court, or government or political subdivision or agency thereof.

“Pledge Agreement” means that certain Pledge Agreement of even date herewith pursuant to which Lender is granted a security interest in the Pledged Stock.

“Pledged Stock” means fifty-one percent (51%) of the capital stock of the Subsidiary Bank.

“Potential Default” means an event of default which but for the lapse of time or the giving of notice, or both, would constitute a Default.

“Prime Rate” means the rate designated as such in the “Money Rates” section of The Wall Street Journal (or any generally recognized successor) on any particular day.  The Prime Rate is not necessarily the lowest interest rate charged by Lender.  

“Records” means instruments, agreements, correspondence, memoranda, tapes, discs, papers, books and other documents, or transcribed information of any type, whether express in ordinary or machine language, and all filing cabinets and other containers in which the foregoing is stored or maintained.

 “Regulation U” means Regulation U of the Board of Governors of the Federal Reserve System as now or from time to time hereafter in effect and shall include any successor or other regulation or official interpretation of said Board of Governors relating to the extension of credit by banks for the purpose of purchasing or carrying margin stocks applicable to member banks of the Federal Reserve System. 

“Reserves” means, with respect to the Subsidiary Bank, the “allowance for loan and lease losses” of the Subsidiary Bank as reported on Schedule RC of the Subsidiary Bank’s most recent quarterly call report.

“Return on Assets Ratio” means, with respect to the Subsidiary Bank, the ratio of (a) year-to-date “net income” of the Subsidiary Bank for the current calendar year, as reported on Schedule RI of the Subsidiary Bank’s most recent quarterly call report, annualized over the current calendar year, to (b) average “total assets” as reported on Schedule RC-K of the Subsidiary Bank’s most recent quarterly call report.

“Subsidiary” means any corporation, including but not limited to the Subsidiary Bank, of which more than fifty-one percent (51%) of the outstanding voting securities shall, at the time of determination, be owned directly, or indirectly through one or more intermediaries, by Borrower.

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“Subsidiary Bank” means River Bank & Trust, a banking corporation organized under the laws of the State of Alabama, which is a wholly-owned Subsidiary of Borrower.

“Tier 1 Leverage Ratio” means, with respect to the Subsidiary Bank, the tier 1 leverage ratio as defined by the capital maintenance regulations of the primary federal bank regulatory agency of the Subsidiary Bank and reported on Schedule RC-R of the Subsidiary Bank’s most recent quarterly call report.

Section 1.02Construction.  All accounting terms used herein shall have their customary meanings under, and shall be construed in accordance with, GAAP.

Section 1.03UCC Definitions.  All other capitalized terms contained in this Agreement shall, unless otherwise defined herein or unless the context otherwise indicates, have their respective meanings under the Uniform Commercial Code of Alabama.

ARTICLE 2. THE LOAN

Section 2.01. General Terms.

 

(A)Subject to the terms and conditions of this Agreement, Lender will lend to Borrower the principal sum of up to $10,000,000 on a revolving basis.  Lender shall make Advances under such Loan from time to time until the Maturity Date.

(B)Subject to the terms hereof, Borrower may borrow, repay without penalty or premium, and reborrow under the Loan, from the date of this Agreement until the Maturity Date.  If at any time the unpaid principal balance of the Loan exceeds the Commitment, Borrower shall immediately and without demand pay such sums to Lender as are necessary to reduce the principal balance of the Loan to not more than the Commitment.

Section 2.02. The Note.  On the date hereof, Borrower will execute and deliver the Note to Lender to evidence Borrower’s Obligations to repay the Loan and the interest thereon.

 

Section 2.03. Use of Proceeds; Disbursement of the Loan.  Borrower will use the proceeds of the Loan solely (a) for general working capital purposes, (b) to reimburse Lender for any expenses incurred by Lender in connection with making the Loan, and (c) to otherwise pay Lender sums due to Lender under this Agreement or the other instruments, agreements and documents related to this Agreement.

 

Section 2.04. Payments of Principal.  If not earlier demanded pursuant to Section 7.02 hereof, the outstanding principal balance of each Advance made under the Loan shall be due and payable to Lender on the Maturity Date. 

 

Section 2.05. Interest Rate and Payments of Interest.

 

(A)Interest shall be calculated and paid as follows:

(1)Interest on the principal balance of the Loan from time to time outstanding will be payable at a per annum rate (the “Interest Rate”) equal to the greater of (i) the Prime 

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Rate in effect from time to time; or (ii) a floor rate of three and twenty-five hundredths percent (3.25%).

(2)Each time a change to the Prime Rate occurs, the Interest Rate shall change concurrently with such change in the Prime Rate.  

(3)Interest shall be calculated on the basis of a 360-day year, by multiplying the product of the principal amount outstanding and the applicable rate by the actual number of days elapsed, and dividing by 360, and shall be payable quarterly in arrears, on the 1st day of each and every calendar quarter (that is, on January 1, April 1, July 1, and October 1) commencing with the first calendar quarter following the first Advance and continuing on the 1st day of each calendar quarter thereafter until the outstanding principal balance of all Advances have been repaid in full, with the final payment of accrued and unpaid interest due and payable on the Maturity Date.  

(B)If, at any time, the Interest Rate shall be deemed by any competent Governmental Authority to exceed the maximum rate of interest permitted by any applicable Laws, then, for such time as the Interest Rate would be deemed excessive, its application shall be suspended and there shall be charged instead the maximum rate of interest permissible under such Laws.

Section 2.06. Payment to Lender.  All sums payable to Lender under the Loan shall be paid directly to Lender in United States Dollars and immediately available funds.  If Lender shall send to Borrower statements of amounts due hereunder, such statements shall be considered correct and conclusively binding on Borrower unless Borrower notifies Lender to the contrary within thirty (30) days of its receipt of any statement which it deems to be incorrect.  Alternatively, at its sole discretion, Lender may charge against any deposit account of Borrower all or any part of any amount due hereunder.

 

Section 2.07. Late Fee/Default Rate of Interest.  Borrower promises to pay to Lender a late fee equal to three percent (3.00%) of the amount of each installment of principal and/or installment of interest which is received more than ten (10) days after the due date thereof; provided, however, that such late fee shall not be less than $20.00 nor more than the maximum amount (if any) permitted by law.  The principal balance of the Loan outstanding after maturity (whether by acceleration or otherwise) shall bear interest at a per annum rate of interest equal to two percent (2.00%) plus the otherwise applicable Interest Rate and shall be calculated pursuant to Section 2.05 hereof.  This section does not extend any payment due date expressly stated in this Agreement or any Collateral Document and does not in any way prevent or estop Lender from requiring that payments be made by Borrower strictly when due.  Unless accepted by Lender, and unless accompanied by all other amounts then due to Lender, the tender of such payment by Borrower shall not cure the Default arising from the payment default upon which such late charge was assessed.

Section 2.08. Non-Use Fee.  Borrower shall pay on an annual basis in arrears to Lender a non-use fee equal to .10% (10 bps) multiplied by the average unused principal amount of the Commitment for the applicable 12-month period (the “Non-Use Fee”), which amount shall be payable no later than 15 days following the first anniversary date of this Agreement.  The Non-Use Fee shall be waived if (i) as of the date of calculation, no Default or Potential Default shall 

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have occurred and be continuing and (ii) Borrower has been obligated under the Loan for $5,000,000 or more for at least six (6) consecutive calendar months of each applicable twelve (12) month period for the life of the Loan.

Section 2.09. Origination Fee.  On the date hereof, Borrower shall pay to the Lender the Origination Fee.

 

ARTICLE 3. CONDITIONS PRECEDENT

The obligation of Lender to make the Loan hereunder is subject to the following conditions precedent:

Section 3.01Conditions to the Loan.  Prior to the initial disbursement of the Loan, Borrower shall have delivered to Lender the following:

	
 
	
(A)
	
the duly executed Note;

	
 
	
(B)
	
the duly executed Pledge Agreement;

	
 
	
(C)
	
original certificate representing the Pledged Stock, accompanied by a stock power endorsed in blank; 

	
 
	
(D)
	
if requested by Lender, the financing statements described in Section 4.05;

	
 
	
(E)
	
copies, certified as of the date of this Agreement by Borrower’s corporate secretary, of resolutions of Borrower’s board of directors authorizing the execution, delivery and performance of this Agreement, the Note, the Collateral Documents, and each other document to be delivered pursuant hereto;

	
 
	
(F)
	
copies, certified as of the date of this Agreement by their respective corporate secretaries, of the articles of incorporation of Borrower and the Subsidiary Bank, together with a certificate (dated the date of this Agreement) of the their respective corporate secretaries to the effect that such articles of incorporation have not been amended except as provided in such articles;

	
 
	
(G)
	
copies, certified as of the date of this Agreement by their respective corporate secretaries, of the bylaws of Borrower and the Subsidiary Bank, together with a certificate (dated the date of this Agreement) of the their respective corporate secretaries to the effect that such bylaws have not been amended except as provided in such bylaws;

	
 
	
(H)
	
a certificate (dated the date of this Agreement) of Borrower’s corporate secretary as to the incumbency and signatures of the officers of Borrower signing this Agreement, the Note, the Collateral Documents, and each other document to be delivered pursuant hereto;

	
 
	
(I)
	
certificates, as of the most recent dates practicable, of the secretary of state and department of commerce, respectively of the state of incorporation of Borrower and 

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the Subsidiary Bank as to the existence and good standing of Borrower and the Subsidiary Bank;

	
 
	
(J)
	
an opinion of counsel to Borrower that Borrower has all necessary authority to enter into this Agreement and perform its obligations hereunder and this Agreement is a valid obligation of Borrower enforceable and binding in accordance with its terms subject to customary bankruptcy qualifications;

	
 
	
(K)
	
receipt by Lender of such financial information, projections,  budgets, business plans, cash flows and such other information as Lender may reasonably request, and Lender must be reasonably satisfied that such information fairly presents the business and financial condition of Borrower and does not contain material misstatements or omissions of material facts.

	
 
	
(L)
	
evidence acceptable to Lender that Borrower and the Subsidiary Bank have received all necessary regulatory approvals (or that no regulatory approvals are necessary) for (i) Borrower to obtain the Loan, (ii) Borrower and the Subsidiary Bank to enter into and perform their Obligations under this Agreement and the Collateral Documents, and (iii) payment by the Subsidiary Bank of dividends to Borrower in amounts sufficient to comply with the repayment terms of the Loan;

	
 
	
(M)
	
such other documentation as Lender shall require regarding Borrower or the Subsidiary Bank, including, without limitation, opinions and certificates of Borrower’s independent certified public accountants, appraisals, reports of other independent consultants selected by Lender, and certificates of Borrower’s officers.

Section 3.02Conditions to Each Advance.  Without limiting the foregoing, at the time of each Advance under the Loan, Borrower shall have furnished such information to Lender as Lender shall reasonably request to evidence that (a) the proceeds of such Advance will be used for the purposes permitted hereunder, and (b) the use of the proceeds in such manner will not cause or bring about a Default or Potential Default hereunder.

Section 3.03Certain Events.  Without limiting the foregoing, at the time of the disbursement of each Advance:

(A)No Default or Potential Default shall have occurred and be continuing;

(B)The Collateral Documents shall be in full force and effect;

(C)The Subsidiary Bank’s call report for the most recently-ended calendar quarter, filed by the Subsidiary Bank with any applicable regulatory authority, shall have been delivered to Lender;

(D)All representations and warranties set forth in Article 5 shall be true and correct as of the time of such disbursement; and

(E)There shall have been no material adverse change in the consolidated financial condition or business of Borrower or the Subsidiary Bank (measured against the most current 

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financial statements of Borrower and the Subsidiary Bank delivered to or otherwise reviewed by Lender prior to the date of this Agreement).

Section 3.04Legal Matters.  At the time of the disbursement of each Advance, all legal matters necessary to preserve and perfect Lender’s security interest in the Collateral and Borrower’s obligation to repay the Loan shall be satisfactory to Lender and its counsel.

Section 3.05Deposit Accounts.  Borrower or the Subsidiary Bank shall maintain a deposit account with Lender and will allow Lender to bid on additional mutually beneficial correspondent services.

ARTICLE 4. COLLATERAL SECURITY

Section 4.01Composition of the Collateral.  The property in which a security interest is granted pursuant to Section 4.03 is herein collectively called the “Collateral.”  The Collateral, together with all of Borrower’s other property of any kind held by Lender, shall stand as one general, continuing collateral security for all Obligations and may be retained by Lender until all Obligations have been satisfied in full.

Section 4.02[Reserved].

Section 4.03Security Interest in the Pledged Stock.  As security for the prompt satisfaction of all Obligations, Borrower hereby assigns and transfers to Lender all of its rights, title and interest in and to, and grants Lender a lien upon and security interest in, all of the Pledged Stock, whether now owned or hereafter acquired, together with all replacements therefor and all proceeds thereof, and all Records pertaining to any of the Collateral.

Section 4.04Priority of Liens.  The foregoing liens shall be first and prior liens on the Pledged Stock and other Collateral.

Section 4.05Financing Statements.

(A)Borrower:

(1)Hereby authorizes the filing of such financing statements (including amendments thereto and continuation statements thereof) in form satisfactory to Lender as Lender may hereafter specify in order to perfect Lender’s lien on and security interest in the Collateral;

(2)Will pay or reimburse Lender for all costs and taxes of filing or recording such financing statements (including amendments thereto and continuation statements thereof) in form satisfactory to Lender as Lender may hereafter specify, provided such financing statements are consistent with the provisions of this Agreement; and

(3)Will take such other commercially reasonable steps as Lender may direct to perfect Lender’s interest in the Collateral.

(B)In addition to the foregoing, and not in limitation thereof:

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(1)A carbon, photographic, or other reproduction of this Agreement shall be sufficient as a financing statement and may be filed in any appropriate public office in lieu thereof; and

(2)To the extent lawful, Borrower hereby appoints Lender as its attorney-in-fact (without requiring Lender to act as such) for the sole purpose of filing any financing statement and any amendment thereto in the name of Borrower, and to perform all other acts that Lender reasonably deems appropriate to perfect and continue its security interest in, and to protect and preserve, the Collateral.

ARTICLE 5. REPRESENTATIONS AND WARRANTIES

Section 5.01Original.  To induce Lender to enter into this Agreement, Borrower represents and warrants to Lender as follows:

(A)Borrower owns 100% of the outstanding capital stock of the Subsidiary Bank;

(B)Borrower is a corporation duly organized, validly existing and in good standing under the Laws of the state of its formation; the Subsidiary Bank is a corporation duly organized, validly existing and in good standing under the Laws of the state of its formation; Borrower and the Subsidiary Bank have the lawful power to own their properties and to engage in the business they conduct, and are duly qualified and in good standing as foreign corporations in the jurisdictions wherein the nature of the business transacted by them or property owned by them make such qualification necessary; the states in which Borrower and the Subsidiary Bank are qualified to do business are set forth in Exhibit B; the addresses of Borrower’s and the Subsidiary Bank’s respective principal places of business are set forth in Exhibit B; and as of the date of this Agreement, neither Borrower nor the Subsidiary Bank has changed its name, been the surviving corporation in a merger, acquired any business, within  three (3) years and one (1) month prior to the date hereof;

(C)Neither Borrower nor the Subsidiary Bank is in material default with respect to any of its existing Indebtedness, or under any material lease, contract or commitment of any kind, and, to Borrower’s knowledge, all parties (including Borrower and the Subsidiary Bank) to all such material leases, contracts and other commitments to which Borrower or the Subsidiary Bank is a party (expressly excluding any lease, contract or commitment made with a customer of Subsidiary Bank in the ordinary course of Subsidiary Bank’s business) are in material compliance with the provisions of such leases, contracts and other commitments;

(D)The making and performance of this Agreement, the Note, and the Collateral Documents will not (immediately, or with the passage of time, or with the giving of notice):

(1)Violate any provision of the articles of incorporation or bylaws of Borrower or the Subsidiary Bank, or violate any Laws or result in a default under any contract, agreement, or instrument to which Borrower or the Subsidiary Bank is a party or by which Borrower or the Subsidiary Bank or any of their respective properties are bound; or

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(2)Result in the creation or imposition of any security interest in, or lien or encumbrance upon, any of the assets of Borrower or the Subsidiary Bank, except in favor of Lender;

(E)Borrower has the power and authority to enter into and perform this Agreement, the Note, and the Collateral Documents, and to incur the Obligations herein and therein provided for, and has taken all corporate action necessary to authorize the execution, delivery, and performance of this Agreement, the Note, and the Collateral Documents;

(F)This Agreement and the Collateral Documents are, and the Note when delivered will be, valid, binding, and enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws, and judicial decisions affecting the rights of creditors generally and by general principles of equity;

(G)Except to the extent disclosed to Lender in writing, there is no pending or, to Borrower’s knowledge, threatened order, notice, claim, litigation, proceeding or investigation against or affecting Borrower or the Subsidiary Bank, whether or not covered by insurance, that would involve the payment by Borrower or Subsidiary Bank of $500,000.00 or more if adversely determined;

(H)Borrower has good and marketable title to all of the Collateral, subject to no security interest, encumbrance or lien, or claim of any third person;

(I)Borrower’s and the Subsidiary Bank’s financial statements (including call reports, in the case of the Subsidiary Bank) furnished to Lender, including any schedules and notes pertaining thereto, have been prepared in accordance with Generally Accepted Accounting Principles consistently applied, and fully and fairly present the financial condition of Borrower at the dates thereof and the results of operations for the periods covered thereby, and there have been no material adverse changes in the consolidated financial condition or business of Borrower from the date of the latest financial statements provided to Lender to the date hereof, or the Subsidiary Bank from its most recently filed call report to the date hereof;

(J)As at the date of this Agreement, neither Borrower nor the Subsidiary Bank has any material Indebtedness of any nature, including, but without limitation, liabilities for taxes and any interest or penalties relating thereto, except to the extent reflected (in a footnote or otherwise) and reserved against in the financial statements of Borrower most recently delivered to Lender or the most recent call report of the Subsidiary Bank, or as disclosed in or permitted by this Agreement, as applicable; Borrower does not know and has no reasonable ground to know of any basis for the assertion against it or the Subsidiary Bank of any material Indebtedness of any nature not fully reflected and reserved against in the above referenced respective financial statements or call reports, as applicable;

(K)Except as otherwise permitted herein, Borrower and the Subsidiary Bank have filed all federal, state and local tax returns and other reports they are required by Law to file prior to the date hereof and which are material to the conduct of their business, have paid or caused to be paid all taxes, assessments and other governmental charges that are due and payable prior to the date hereof, and have made adequate provision for the payment of such taxes, assessments or other 

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charges accruing but not yet payable; Borrower has no knowledge of any deficiency or additional assessment in a materially important amount in connection with any taxes, assessments or charges not provided for on its books or the books of the Subsidiary Bank;

(L)Neither Borrower nor the Subsidiary Bank is in material violation of any applicable Laws; 

(M)No representation or warranty by Borrower or the Subsidiary Bank contained herein or in any certificate or other document furnished by Borrower or the Subsidiary Bank pursuant hereto contains any untrue statement of material fact or omits to state a material fact necessary to make such representation or warranty not misleading in light of the circumstances under which it was made;

(N)Each consent, approval or authorization of, or filing, registration or qualification with, any Person that is required to be obtained or effected by Borrower or the Subsidiary Bank in connection with the execution and delivery of this Agreement, the Note, and the Collateral Documents, or the undertaking or performance of any obligation hereunder or thereunder, has been duly obtained or effected;

(O)The Pledged Stock constitutes 51% of the issued and outstanding capital stock of the Subsidiary Bank.  There are no outstanding warrants, options, rights or other commitments (including, but without limitation, convertible notes or securities) entitling any Person to purchase or otherwise acquire any shares of capital stock of Borrower or the Subsidiary Bank.  The Pledged Stock does not constitute “Margin Stock” as defined in Federal Reserve Board Regulation U (12 C.F.R. §§ 221.1 et seq.);

(P)Borrower has not made any agreement or taken any action which may cause anyone to become entitled to a commission or finder’s fee as a result of the making of the Loan;

(Q)Borrower does not maintain any “Defined Benefit Pension Plans”, as defined in ERISA; and

(R)Section 5.02Survival.  All of the representations and warranties set forth in Section 5.01 shall survive and shall remain true and correct until all Obligations are satisfied in full (except, if applicable, to the extent that any such representation or warranty expressly relates solely to an earlier date or period of time).  

ARTICLE 6. THE BORROWER’S COVENANTS

Borrower hereby covenants and agrees with Lender that, so long as any of the Obligations remain unsatisfied, it will comply with the following covenants:

Section 6.01Affirmative Covenants.

Unless Lender shall otherwise agree in writing, Borrower shall abide by and perform the following covenants:

(A)[Reserved]

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(B)Borrower will use the proceeds of the Loan solely for the purposes described in Section 2.03 of this Agreement.  Borrower will furnish Lender such evidence as it may reasonably require with respect to such use.

(C) Borrower will furnish Lender all of the following:  

(1)with respect to Borrower only, quarterly, within sixty (60) days after the close of each calendar quarter, and at such other times as Lender may request:

(a)a statement of stockholders’ equity and a statement of cash flows of such entity as of and for such quarter;

(b)an income statement of such entity for such quarter; and

(c)a balance sheet (consolidated, in the case of an entity that has one or more Subsidiaries) of such entity as of the end of such period;

all in reasonable detail, subject to year-end audit adjustments and certified by Borrower’s president or principal financial officer to have been prepared in accordance with Generally Accepted Accounting Principles consistently applied, except for any inconsistencies explained in such certificate.

(2)with respect to each of Borrower and the Subsidiary Bank, annually, within one hundred twenty (120) days after December 31 of each year:

(a)a statement of stockholders’ equity and the  consolidated statement of cash flows of  the Borrower and its affiliates of and for such fiscal year;

(b)an income statement of such entity for such fiscal year; and

(c)a balance sheet (in the case of an entity that has one or more Subsidiaries, such balance sheet shall be delivered on a consolidated basis and, if requested by Lender, also on a parent-only basis) of such entity as of the end of such fiscal year;

all in reasonable detail, including all supporting schedules and comments, audited by an independent public accountant selected by Borrower and reasonably acceptable to Lender, and certified by such accountant to have been prepared in accordance with Generally Accepted Accounting Principles consistently applied, except for any inconsistencies explained in such certificate.  In addition, if requested by Lender, Borrower will obtain from such independent certified public accountants and deliver to Lender, within one hundred twenty (120) days after the close of each fiscal year, the independent certified public accountants’ written statement that in making the examination necessary to their certification they have obtained no knowledge of any Default or Potential Default by Borrower or the Subsidiary Bank, or disclosed all Defaults or Potential Defaults of which they have obtained knowledge; provided, however, that in making their examination such accountants shall not be required to go beyond the bounds of generally accepted auditing procedures for the purpose of certifying financial statements.  Lender shall have the right, 

{BH489438.3}

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from time to time, to discuss Borrower’s and the Subsidiary Bank’s affairs directly with Borrower’s and the Subsidiary Bank’s independent public accountants after notice to Borrower and the Subsidiary Bank and upon opportunity for Borrower and the Subsidiary Bank to be present at any such discussions.

(3)Contemporaneously with each quarterly and year-end financial report required by the foregoing paragraphs (1) and (2), a certificate of the president or principal financial officer of Borrower and the Subsidiary Bank, in the form of Exhibit A, stating that he or she has individually reviewed the provisions of this Agreement and that a review of the activities of Borrower and the Subsidiary Bank during such year or quarterly period, as the case may be, has been made by or under the supervision of the signer of such certificate with a view to determining whether Borrower and the Subsidiary Bank have kept, observed, performed and fulfilled all their obligations under this Agreement, and that, to the best of his or her knowledge, Borrower and the Subsidiary Bank have observed and performed each and every undertaking contained in this Agreement and are not at the time in default in the observance or performance of any of the terms and conditions hereof or, if Borrower or the Subsidiary Bank shall be so in default, specifying all such defaults and events of which he or she may have knowledge. 

(4)Promptly after receipt thereof, copies of all material reports and documents submitted to Borrower or the Subsidiary Bank by any applicable regulatory authority (other than those which Borrower and the Subsidiary Bank are prohibited from disclosing under applicable Laws), and, simultaneously with the filing thereof, but in any event within forty-five (45) days of the end of each calendar quarter, copies of all financial reports, including but not limited to quarterly call reports, filed by the Borrower and/or the Subsidiary Bank with any applicable regulatory authority.

(5)Promptly after sending or making available or filing of the same, but in any event within fifteen (15) days after issuance, copies of all reports, proxy statements and financial statements that Borrower or the Subsidiary Bank sends or makes available to the stockholders and all registration statements and reports, including, if applicable, but not limited to 8‐Ks and 10‐Qs that Borrower or the Subsidiary Bank files with the Securities and Exchange Commission or any successor Person.

(6)Immediately upon the occurrence thereof, notice of (i) any material change in Borrower’s or the Subsidiary Bank’s financial condition or executive management, or (ii) any other change internally or externally that could materially affect the capital, earnings or financial condition of Borrower or the Subsidiary Bank.

(7)Such other reports, financial information, projections, budgets, capital plans and other information as Lender may reasonably require.

Documents required to be delivered pursuant to Section 6.01(A), (B), (C)(1), (C)(2), (C)(4), and (C)(5) (to the extent any such documents are included in materials otherwise filed with the Securities and Exchange Commission, Federal Reserve, or Federal Deposit Insurance Corporation) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the 

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date on which such documents are posted on Borrower’s behalf on an internet or intranet website, if any, to which Lender has access.

(D)Borrower will pay or cause to be paid when due all taxes, assessments and charges or levies imposed upon it or the Subsidiary Bank or on any of its property or the Subsidiary Bank’s property or which it or the Subsidiary Bank is required to withhold and pay over, except where contested in good faith by appropriate proceedings with adequate reserve therefor having been set aside on Borrower’s or the Subsidiary Bank’s books, but Borrower shall pay or cause to be paid all such taxes, assessments, charges or levies forthwith whenever foreclosure on any lien that has attached (or any security therefor) appears imminent.

(E) Borrower will, when requested so to do and unless prohibited by any federal, state and/or local Laws, make available for inspection by duly authorized representatives of Lender any of its or the Subsidiary Bank’s Records, and will furnish Lender any information regarding its or the Subsidiary Bank’s business affairs and financial condition within a reasonable time after written request therefor.

(F) Borrower will maintain, and will cause the Subsidiary Bank to maintain, liability insurance, property insurance (including, without limitation, fire and extended coverage insurance on all assets owned by Borrower or the Subsidiary Bank, as applicable), and other types of insurance (including, without limitation, insurance coverage on the directors and officers of Borrower and the Subsidiary Bank), all in such form and amounts as are consistent with industry practices and with such insurers as may be satisfactory to Lender.   Borrower will furnish to Lender such evidence of insurance as Lender may require.  Borrower hereby agrees that, in the event it fails to pay or cause to be paid the premium on any such insurance, Lender may do so and shall be reimbursed by Borrower therefor, along with interest on the amount so paid at the Interest Rate (or default rate, if applicable).  

(G) Borrower will take all necessary steps to preserve its and the Subsidiary Bank’s corporate existence and comply with all present and future Laws applicable to it or the Subsidiary Bank in the operation of its or the Subsidiary Bank’s business, and all material leases, contracts and commitments of any kind to which it or the Subsidiary Bank is subject.  Borrower will cause the Subsidiary Bank to comply in all material respects with their respective obligations.

(H) Borrower will give immediate notice to Lender of:

(1)any litigation or proceeding in which it or the Subsidiary Bank is a party if an adverse decision therein would require it or the Subsidiary Bank to pay more than $500,000.00 or deliver assets the value of which exceeds such sum (whether or not the claim is considered to be covered by insurance); and

(2)the institution of any other suit or proceeding involving Borrower or the Subsidiary Bank that might materially and adversely affect Borrower’s or the Subsidiary Bank’s operations, financial condition, property or business.

(I)Within ten (10) days of Lender’s request therefor, Borrower will furnish Lender with copies of federal income tax returns filed by Borrower or the Subsidiary Bank.

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(J)Borrower will cause the Subsidiary Bank at all times to maintain (in accordance with Generally Accepted Accounting Principles):  

(1)an “adequately capitalized” status in accordance with the regulations of the primary federal bank regulatory agency of the Subsidiary Bank;

(2)a Tier 1 Leverage Ratio greater than eight percent (8.0%); 

(3)a Non-Performing Assets/Equity and Allowance for Loan and Lease Losses Ratio less than forty percent (40%); and

(4)a Return on Assets Ratio greater than twenty-five hundredths of one percent (0.25%).

(K)Borrower will notify Lender immediately if it becomes aware of the occurrence of any Default or Potential Default, or the failure of Borrower to observe any of its undertakings hereunder.

(L)Borrower shall (a) ensure that no Person which owns a controlling interest in or controls Borrower is or shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control (“OFAC”), the Department of the Treasury or included in any Executive Orders, (b) not use or permit the use of any proceeds of the Loan to violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto, (c) comply with all applicable Bank Secrecy Act laws and regulations, as amended, and (d) provide all information necessary for Lender to comply with the USA Patriot Act, as amended from time to time.

(M)Borrower will maintain direct ownership of fifty-one percent (51%) of the issued and outstanding capital stock of the Subsidiary Bank.

(N)Borrower will pay, or cause the Subsidiary Bank to pay, when due (or within applicable grace periods) all Indebtedness due third Persons, except when the amount therefor is being contested in good faith by appropriate proceedings and with adequate reserves therefor being set aside on the books of Borrower or the Subsidiary Bank.  If default be made by Borrower or the Subsidiary Bank in the payment of any principal (or installment thereof) of, or interest on, any such Indebtedness, Lender shall have the right, in its discretion, to pay such interest or principal for the account of Borrower or the Subsidiary Bank and be reimbursed by Borrower therefor, along with interest on the amount so paid at the Interest Rate (or default rate, if applicable).  

(O)Borrower shall cause the Subsidiary Bank to pay dividends to Borrower in an amount sufficient to fulfill its Obligations to repay the Loan.  Borrower shall immediately notify Lender within two (2) business days of any regulatory prohibition relative to the payment of dividends to Borrower.

(P)Borrower shall promptly notify Lender in the event of the departure or removal of the current Chief Executive Officer of either Borrower or the Subsidiary Bank, and Lender may accelerate the Loan in accordance with Section 7.02 at any time after 90 days but no longer than 120 days following any such departure or removal.

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(Q)In the event Borrower fails to maintain a Tier 1 Leverage Ratio greater than eight percent (8.0%) in accordance with Section 6.01(J)(2), Borrower shall have a period to cure the failure for thirty (30) days.  In the event Borrower fails to maintain a Non-Performing Assets Ratio of less than forty percent (40%) in accordance with Section 6.01(J)(3) or a Return on Assets Ratio greater than twenty-five hundredths of one percent (0.25%) in accordance with Section 6.01(J)(4), Borrower shall have a period to cure the failure for the fiscal quarter following the quarter in which such failure occurs.  

(R)Borrower shall maintain an interest reserve of at least $1,000,000 at all times during the term of the Loan, it being understood that such funds may be maintained at the Subsidiary Bank and may be commingled with other funds of Borrower.

(S)Borrower shall notify Lender within two (2) business days of any regulatory prohibition against the payment of any dividends to Borrower.  

Section 6.02Negative Covenants.

Unless Lender shall otherwise consent in writing, which consent shall not unreasonably be withheld, Borrower shall abide by the following covenants:

(A)Neither Borrower nor the Subsidiary Bank will change its name, enter into any merger, consolidation, or reorganization, reclassify its capital stock, or liquidate or dissolve, except pursuant to a transaction in which Borrower or the Subsidiary Bank, as appropriate, is the acquiror and no Change in Control has occurred.

(B)Neither Borrower nor the Subsidiary Bank will sell, transfer, lease or otherwise dispose of all or any material part of its assets, nor sell any item of Collateral, including but without limitation with respect to Borrower, any of the capital stock of the Subsidiary Bank.  Further, neither Borrower nor the Subsidiary Bank will purchase any material part of the assets of another Person, except pursuant to a transaction by the Subsidiary Bank in the ordinary course of business or a transaction in which Borrower or the Subsidiary Bank, as appropriate, is the acquiror and no Change in Control has occurred.

(C)Borrower will not mortgage, pledge, grant or permit to exist a security interest in or lien upon any item of Collateral, including, but without limitation any of the capital stock of the Subsidiary Bank, now owned or hereafter acquired.

(D)Neither Borrower nor the Subsidiary Bank will become liable, directly or indirectly, as guarantor or otherwise for any obligation of any Person, except for the Subsidiary Bank’s endorsement of commercial paper for deposit or collection in the ordinary course of business, and the Subsidiary Bank’s issuance of letters of credit in the ordinary course of business.

(E)Neither Borrower nor the Subsidiary Bank (whether acting in its individual capacity or as a joint venture partner) will incur, create, assume, or permit to exist any Indebtedness except:

(1)the Loan;

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(2)Indebtedness described in the financial statements of Borrower most recently delivered to Lender, or the most recent call reports of the Subsidiary Bank, as applicable; 

(3)trade indebtedness incurred in the ordinary course of business; 

(4)Indebtedness no greater than $5,000,000 or Indebtedness approved in writing by Lender; and

(4)contingent Indebtedness permitted by Section 6.02(D).

Without limiting the foregoing, the Subsidiary Bank shall not issue commercial paper, subordinated debt or any similar debt instrument, and the Subsidiary Bank shall not obtain any non-traditional funding, without Lender’s prior written consent.

(F)Borrower will not amend, nor cause the Subsidiary Bank to amend, its articles of incorporation or bylaws, or alter, through agreement or otherwise, any voting rights or rights to elect or appoint directors.

(G)Borrower will not declare or pay any dividends, or make any other payment or distribution on account of its capital stock, except that so long as no Default or Potential Default shall have occurred and be continuing, Borrower may pay dividends to its shareholders in amounts consistent with its past practices.

(H)Borrower will not furnish Lender any certificate or other document that will knowingly contain any untrue statement of material fact or that will knowingly omit to state a material fact necessary to make it not misleading in light of the circumstances under which it was furnished.

(I)Borrower will not directly or indirectly apply any part of the proceeds of the Loan to the purchasing or carrying of any “margin stock” within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, or any regulations, interpretations or rulings thereunder.

(J)Borrower will not enter into any transaction with any Affiliate including, without limitation, the purchase, sale or exchange of property or the rendering of any service, except in the ordinary course of business and pursuant to the reasonable requirements of Borrower’s business and upon terms found by its board of directors to be fair and reasonable and no less favorable to Borrower than would obtain in a comparable arm’s-length transaction with a Person not an Affiliate.

ARTICLE 7. DEFAULT

Section 7.01Events of Default.  The occurrence of any one or more of the following events shall constitute a Default hereunder:

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(A)Borrower shall fail to pay when due any installment of principal or interest or fee payable hereunder or under the Note, or any of Borrower’s other Obligations to Lender.  For the purposes of this paragraph, there shall be a ten (10) day grace period in the event of a late payment.

(B)Borrower shall fail to observe or perform any other obligation to be observed or performed by it hereunder or under the Note or any of the Collateral Documents.   In the event of a failure to meet an obligation under this paragraph, Lender shall give Borrower notice of the failure.  From the date notice is received, Borrower shall have a thirty (30) day period in which to cure such failure.

(C)Borrower or the Subsidiary Bank shall fail to pay any Indebtedness in excess of $500,000.00 due any third Persons after demand therefor and such failure shall continue beyond any applicable grace period, unless any such failure is being contested in good faith by appropriate proceedings with adequate reserve therefor being set aside on Borrower’s or the Subsidiary Bank’s books. For the purposes of this paragraph, there shall be a ten (10) day grace period to cure such failure.

(D)Any financial statement, call report, representation, warranty or certificate made or furnished by Borrower or the Subsidiary Bank to Lender under or in connection with this Agreement, or as an inducement to Lender to enter into this Agreement, or in any separate statement or document to be delivered hereunder to Lender, shall be materially false, incorrect, or incomplete when made.

(E)Borrower shall admit its inability to pay its debts as they mature, or shall make an assignment for the benefit of its or any of its creditors.

(F)Proceedings in bankruptcy, or for reorganization of Borrower or the Subsidiary Bank or for the readjustment of any of its debts, under the Bankruptcy Code, as amended, or any part thereof, or under any other Laws, whether state or federal, for the relief of debtors, now or hereafter existing, (i) shall be commenced against Borrower or the Subsidiary Bank and shall not be discharged within thirty (30) days after their commencement, or (ii) shall be commenced by Borrower or the Subsidiary Bank.

(G)Any proceedings shall be instituted for the appointment of a receiver or trustee for Borrower or the Subsidiary Bank or for any substantial part of their respective assets, or any proceedings shall be instituted for the dissolution of or the full or partial liquidation of Borrower or the Subsidiary Bank, or Borrower or the Subsidiary Bank shall discontinue its business or materially change the nature of its business.

(H)Borrower or the Subsidiary Bank shall suffer final judgments for payment of money aggregating in excess of $500,000.00 and shall not discharge the same within a period of thirty (30) days unless, pending further proceedings, execution has been effectively stayed.

(I)A judgment creditor of Borrower shall obtain possession of any of the Collateral by any means, including, but without limitation, levy, distraint, replevin or self-help.

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(J)The validity or enforceability of this Agreement, the Note or the Collateral Documents shall be contested by Borrower, the Subsidiary Bank, or any shareholder of Borrower, or the Borrower shall deny that it has any or further liability or Obligation hereunder or thereunder.

(K)Borrower or the Subsidiary Bank shall fail to maintain all regulatory licenses and permits necessary to the conduct of their respective business.

(L)If any of Borrower’s or the Subsidiary Bank’s banking regulators (i) enter into or issue a cease and desist order, consent order, written agreement or similar agreement with or against Borrower or the Subsidiary Bank, (ii) require Borrower or the Subsidiary Bank to enter into a memorandum of understanding, letter agreement or other similar written undertaking, or (iii) take such other action that explicitly states that Borrower or the Subsidiary Bank has acted in an unsafe or unsound manner.

(M)Borrower ceases to own fifty-one percent (51%) of the issued and outstanding capital stock of the Subsidiary Bank.

(N)There is a Change in Control with respect to Borrower or the Subsidiary Bank.

Section 7.02Acceleration.  If a Default shall have occurred and be continuing beyond any applicable grace or cure periods, or if a departure of executive management occurs under Section 6.01(P) and Lender elects to accelerate the Loan during the period set forth in such Section 6.01(P), then, at the option of Lender (which option shall be deemed to have been exercised, even if no notice is given, immediately upon the occurrence of a Default specified in Sections 7.01(E), (F) or (G)), Lender may terminate all commitments to lend hereunder and may declare, by written notice to Borrower, that all Obligations, whether hereunder or otherwise, are immediately due and payable.

Section 7.03Remedies.  If a Default shall have occurred and be continuing beyond any applicable notice and grace periods, then whether or not acceleration occurs under Section 7.02, Lender shall have, in addition to the rights and remedies given it by this Agreement and the Collateral Documents, all those allowed by all applicable Laws, including, but without limitation, the Uniform Commercial Code as enacted in any jurisdiction in which any Collateral may be located.  After deducting from the proceeds of sale or other disposition of the Collateral all expenses (including all reasonable expenses for legal services), Lender shall apply such proceeds toward the satisfaction of the Obligations.  Borrower shall be liable for any deficiency, and any remainder of the proceeds after satisfaction in full of the Obligations shall be distributed as required by applicable Laws.  Notice of any sale or other disposition shall be given to Borrower (and/or to the Subsidiary Bank, if required under applicable Laws) at least five (5) days before the time of any intended public sale or of the time after which any intended private sale or other disposition of the Collateral is to be made, which Borrower hereby agrees shall be reasonable notice of such sale or other disposition.  Borrower agrees to assemble, or to cause to be assembled, at its own expense, the Collateral at such place or places as Lender shall designate.  At any such sale or other disposition, Lender may, to the extent permissible under applicable Laws, purchase the whole or any part of the Collateral, free from any right of redemption on the part of Borrower or the Subsidiary Bank, which right is hereby waived and released.  Without limiting the generality of any of the rights and remedies conferred upon Lender under this section, Lender may, to the 

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full extent permitted by applicable Laws, at Lender’s option, use, operate, manage and control the Collateral in any lawful manner.

ARTICLE 8. MISCELLANEOUS

Section 8.01Construction.  The provisions of this Agreement shall be in addition to those of any guaranty, pledge or security agreement, note or other evidence of liability held by Lender, all of which shall be construed as complementary to each other.  Nothing herein contained shall prevent Lender from enforcing any or all other notes, guaranty agreements, pledge agreements, or security agreements in accordance with their respective terms.

Section 8.02Further Assurance.  From time to time, Borrower will, or will cause the Subsidiary Bank to, execute and deliver to Lender such additional documents and will provide such additional information as Lender may reasonably require to carry out the terms of this Agreement and be informed of Borrower’s and/or the Subsidiary Bank’s status and affairs.

Section 8.03Enforcement and Waiver by Lender.  Lender shall have the right at all times to enforce the provisions of this Agreement and the Collateral Documents in strict accordance with the terms hereof and thereof, notwithstanding any conduct or custom on the part of Lender in refraining from so doing at any time or times.  The failure of Lender at any time or times to enforce its rights under such provisions, strictly in accordance with the same, shall not be construed as having created a custom in any way or manner contrary to specific provisions of this Agreement or as having in any way or manner modified or waived the same.  All rights and remedies of Lender are cumulative and concurrent and the exercise of one right or remedy shall not be deemed a waiver or release of any other right or remedy.

Section 8.04Expenses of Lender.  Borrower will, on demand, reimburse Lender for any and all expenses, fees, taxes, or other costs (including, without limitation, (a) expenses for lien searches and other due diligence searches, (b) any recordation tax, indebtedness tax, documentary stamp tax, intangible tax, or similar tax due in connection with the Loan or any security instrument related to the Loan, (c) any recording fees or other costs due in connection with any security instrument related to the Loan, and (d) the reasonable fees and expenses of legal counsel for Lender) incurred in connection with the enforcement of this Agreement and the Collateral Documents and the collection or attempted collection of the Note and the other Obligations.

Section 8.05Notices.  Any notice or other communication required or permitted to be given by this Agreement, the Note, the Collateral Documents or any related document, or by applicable Laws, shall be in writing and shall be deemed received (a) on the date delivered, if sent by hand delivery (to the person or department if one is specified below) with receipt acknowledged by the recipient thereof, (b) three (3) business days following the date deposited in U.S. mail, certified or registered, with return receipt requested, or (c) one (1) business day following the date deposited with Federal Express or other national overnight carrier, and in each case addressed as follows:

 

 

{BH489438.3}

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(A)If to Borrower:

 

River Financial Corporation c/o River Bank & Trust

2611 Legends Drive

Prattville, AL 36066

Attention:Mr. James M. Stubbs, CEO

  

   

 

(B)If to Lender:

 

ServisFirst Bank

2500 Woodcrest Place

Birmingham, Alabama 35209

	
 
	
Attention:
	
William Mellown

	
 
	

	
       Vice President, Correspondent Banking

 

Section 8.06Waiver; Release and Indemnity by Borrower.  To the maximum extent permitted by applicable Laws, Borrower:

(A)Waives (1) protest with respect to all Indebtedness at any time held by Lender on which Borrower is in any way liable; and (2) notice and opportunity to be heard before exercise by Lender of the remedies of set-off or other summary procedures permitted by any applicable Laws or by any agreement with Borrower, and except where required hereby or by any applicable Laws, notice of any other action taken by Lender; and

(B)Releases Lender and its officers, directors, agents, attorneys and employees from all claims for loss or damage caused by any act or omission on the part of any of them except gross negligence or willful misconduct; and

(C)Indemnifies Lender and its officers, directors, agents, attorneys and employees against, and agrees to hold Lender and all of such other persons harmless from, any claims, demands, liabilities, costs, damages, and judgments (including, without limitation, costs of defense and attorneys’ fees) arising directly or indirectly out of or in connection with any matter involving the Loan, this Agreement, the Note, the Collateral Documents, any related documents, or any of the other matters and transactions contemplated herein or therein, except where such claims, demands, liabilities, costs, damages and judgments arise out of the gross negligence or willful misconduct of Lender.  This agreement of indemnity shall be a continuing agreement and shall survive payment of the Loan, the Note and termination of this Agreement.

Section 8.07Participation.  Notwithstanding any other provision in this Agreement, Borrower understands and agrees that Lender may enter into participation agreements with participating banks whereby Lender will allocate to them certain percentages of Lender’s interest in the Loan.  Borrower acknowledges that, for the convenience of all parties, this Agreement is being entered into with Lender only and that its obligations under this Agreement are undertaken for the benefit of, and as an inducement to each of any such participating banks as well as Lender, 

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and Borrower hereby grants to each such participating bank, to the extent of its participation in the Loan, the right to set off deposit accounts maintained by Borrower with such bank.

Section 8.08Applicable Law; Jurisdiction and Venue.  The substantive Laws of the United States and the State of Alabama shall govern the construction of this Agreement and the documents executed and delivered pursuant hereto, and the rights and remedies of the parties hereto and thereto.  Borrower hereby consents to the jurisdiction of the State of Alabama; and agrees that venue for any dispute relating to or arising out of the transaction contemplated by this Agreement shall lie exclusively in an appropriate state or federal court located in Jefferson County, Alabama.

Section 8.09Binding Effect, Assignment and Entire Agreement.  This Agreement shall inure to the benefit of, and shall be binding upon, the respective successors and permitted assigns of the parties hereto.  Borrower has no right to assign any of its rights or obligations hereunder without the prior written consent of Lender.  Lender may freely assign the Loan, in whole or in part.  This Agreement and the documents executed and delivered pursuant hereto, constitute the entire agreement between the parties, and may be amended only by a writing signed on behalf of each party.

Section 8.10Severability.  If any provision of this Agreement shall be held invalid under any applicable Laws, such invalidity shall not affect any other provision of this Agreement that can be given effect without the invalid provision, and, to this end, the provisions hereof are severable.

Section 8.11Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument.

Section 8.12Extension and Renewal.  The Loan may, in the sole and absolute discretion of Lender, be renewed or extended beyond the Maturity Date only upon the express written agreement of Borrower and Lender. Any renewal or extension shall be upon the terms and subject to the conditions stated in such written agreement.  In the absence of such extension or renewal, the obligations of Lender hereunder with respect to the Loan shall terminate on the Maturity Date.

Section 8.13Seal.  This Agreement is intended to take effect as an instrument under seal.

Section 8.14No Third Party Beneficiaries, Etc.  Monitoring, inspections and review of financial information by Lender may not be relied upon by Borrower or any other Person and shall be for the sole benefit of Lender.  Further, there are no third party beneficiaries of this Agreement or any documents related hereto, and no person or entity other than Lender and Borrower shall be entitled to rely hereon or thereon or benefit herefrom or therefrom.

Section 8.15Waiver of Trial by Jury.  EACH OF THE BORROWER AND THE LENDER HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY ON ANY CLAIM, COUNTERCLAIM, SETOFF, DEMAND, ACTION OR CAUSE OF ACTION (a) ARISING OUT OF OR IN ANY WAY PERTAINING OR RELATING TO THIS AGREEMENT, THE Note, THE COLLATERAL DOCUMENTS, OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS 

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AGREEMENT OR (b) IN ANY WAY CONNECTED WITH OR PERTAINING OR RELATED TO OR INCIDENTAL TO ANY DEALINGS OF THE PARTIES HERETO WITH RESPECT TO THIS AGREEMENT, THE Note, THE COLLATERAL DOCUMENTS, OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION THEREWITH OR IN CONNECTION WITH THE TRANSACTIONS RELATED THERETO OR CONTEMPLATED THEREUNDER, IN ALL OF THE FOREGOING CASES WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE.  THE BORROWER AND THE LENDER AGREE THAT EITHER OR BOTH OF THEM MAY FILE A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED AGREEMENT BETWEEN THE PARTIES IRREVOCABLY TO WAIVE TRIAL BY JURY, AND THAT ANY DISPUTE OR CONTROVERSY WHATSOEVER BETWEEN THEM SHALL INSTEAD BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A JURY.

[Signature Page Follows]

 

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

 

BORROWER:

 

	
RIVER FINANCIAL CORPORATION

 

 

	
By
	
 

	
Name
	
James M. Stubbs

	
Its
	
Chief Executive Officer

 

 

 

 

LENDER:

 

	
SERVISFIRST BANK

 

 

	
By
	
 

	
Name
	
William Mellown

	
Its
	
VP, Correspondent Banking

 

 

 

{BH489438.3}Signature Page for Loan and Security Agreement

 

 

EXHIBIT A TO

 LOAN AND SECURITY AGREEMENT

 

BORROWER’S COMPLIANCE CERTIFICATE

 

 

ServisFirst Bank

2500 Woodcrest Place

Birmingham, Alabama 35209

Attention:  William Mellown, Vice President, Correspondent Banking

       

Re: Loan and Security Agreement dated August 9, 2021

 

Gentlemen:

 

In connection with the foregoing, the officer executing this certificate on behalf of Borrower and the Subsidiary Bank certifies as follows:

 

a)I am familiar with the terms and conditions of the Loan and Security Agreement (the “Loan Agreement”) dated August 9, 2021, between Borrower and Lender.  I have individually reviewed the provisions of the Loan Agreement, and a review of the activities of Borrower and the Subsidiary Bank from _________________, 2021_____, until _________________, 2021_____, has been made under my supervision with the view of determining whether Borrower and the Subsidiary Bank have kept, observed, performed and fulfilled all their obligations under the Loan Agreement.  

 

b)The financial covenants for the Subsidiary Bank set forth in Section 6.01(J) of the Agreement are set forth below, together with the status or calculation thereof for the above-referenced period:

RequiredAs of Reporting Date

	
 
	
(1)
	
Status .....................................     “adequately capitalized”

	
 
	
(2)
	
Tier 1 Leverage Ratio greater than...    8.0%

	
 
	
(3)
	
Non-Performing Assets Ratio..........      <  40%

	
 
	
(4)
	
Return on Assets Ratio greater than.              0.25% 

c)Borrower and the Subsidiary Bank have observed and performed each and every undertaking contained in the Loan Agreement and are not at this time in default in the observance or performance of any of the terms and conditions thereof except as provided for on the attached schedule.  I hereby certify that no Default or Potential Default exists as of the date hereof.

 

[Signature Page Follows]

{BH489438.3}

 

IN WITNESS WHEREOF, the undersigned have caused this certificate to be executed by their duly authorized representatives on the dates set forth below.

 

 

	
          RIVER FINANCIAL CORPORATION

 

 

	
By
	
 

	
Name
	
 

	
Its
	
 

 

 

      Date:

 

 

 

	
          RIVER Bank & TRUST

 

	
By
	
 

	
Name
	
 

	
Its
	
 

 

 

      Date:

 

 

 

 

{BH489438.3}

 

 

COMPLIANCE CERTIFICATE SCHEDULE OF DEFAULTS

 

 

 

	
 
	
A.
	
Nature of Default(s) or Potential Default(s):

 

 

 

 

 

 

 

	
 
	
B.
	
Steps Borrower proposes to cure Default(s) or Potential Default(s):

{BH489438.3}

 

EXHIBIT B TO

 LOAN AND SECURITY AGREEMENT

 

STATES QUALIFIED, PRINCIPAL PLACES OF BUSINESS

 

 

			
	
Entity
	
State(s) Qualified

 
	
Principal Place of Business

	
River Financial Corporation

 
	
Alabama
	
        2611 Legends Drive

        Prattville, AL 36066

 

	
River Bank & Trust

 
	
Alabama
	
       2611 Legends Drive

       Prattville, AL 36066

 

 

 

{BH489438.3}Exhibit 4.6

   
   

    
  Kronos Bio, Inc.,

     Issuer

     

     AND

     

     [TRUSTEE],

     Trustee

   
   

   
  _______________

   
   

   
  INDENTURE

     

     Dated as of [•], 202[•]

   
   

   
  _______________

   
   

   
  Debt Securities

   
   

   
  
     

    
      
 

  

   

   
  Table Of Contents

   
   

    
  Page

   
    

    
  	article 1	DEFINITIONS	 	1
	 	 	 	 	 	 
	Section 1.01	 	Definitions of Terms	 	1
	 	 	 	 	 	 
	article 2	ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES	 	5
	 	 	 	 	 	 
	Section 2.01	 	Designation and Terms of Securities	 	5
	 	 	 	 	 	 
	Section 2.02	 	Form of Securities and Trustee’s Certificate	 	8
	 	 	 	 	 	 
	Section 2.03	 	Denominations: Provisions for Payment	 	8
	 	 	 	 	 	 
	Section 2.04	 	Execution and Authentications	 	10
	 	 	 	 	 	 
	Section 2.05	 	Registration of Transfer and Exchange	 	11
	 	 	 	 	 	 
	Section 2.06	 	Temporary Securities	 	12
	 	 	 	 	 	 
	Section 2.07	 	Mutilated, Destroyed, Lost or Stolen Securities	 	12
	 	 	 	 	 	 
	Section 2.08	 	Cancellation	 	13
	 	 	 	 	 	 
	Section 2.09	 	Benefits of Indenture	 	13
	 	 	 	 	 	 
	Section 2.10	 	Authenticating Agent	 	14
	 	 	 	 	 	 
	Section 2.11	 	Global Securities	 	14
	 	 	 	 	 	 
	Section 2.12	 	CUSIP Numbers	 	15
	 	 	 	 	 	 
	article 3	REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	 	16
	 	 	 	 	 	 
	Section 3.01	 	Redemption	 	16
	 	 	 	 	 	 
	Section 3.02	 	Notice of Redemption	 	16
	 	 	 	 	 	 
	Section 3.03	 	Payment Upon Redemption	 	17
	 	 	 	 	 	 
	Section 3.04	 	Sinking Fund	 	17
	 	 	 	 	 	 
	Section 3.05	 	Satisfaction of Sinking Fund Payments with Securities	 	18
	 	 	 	 	 	 
	Section 3.06	 	Redemption of Securities for Sinking Fund	 	18
	 	 	 	 	 	 
	article 4	COVENANTS	 	18
	 	 	 	 
	Section 4.01	 	Payment of Principal, Premium and Interest	 	18
	 	 	 	 	 	 
	Section 4.02	 	Maintenance of Office or Agency	 	19
	 	 	 	 	 	 
	Section 4.03	 	Paying Agents	 	19
	 	 	 	 	 	 
	Section 4.04	 	Appointment to Fill Vacancy in Office of Trustee	 	20

   
   

   
  
    i.

    
      
 

  

   

   
  Table Of Contents

    
   (continued)

   
   

   
   Page

   
   

   
  	article 5	SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	 	20
	 	 	 	 	 	 
	Section 5.01	 	Company to Furnish Trustee Names and Addresses of Securityholders	 	20
	 	 	 	 	 	 
	Section 5.02	 	Preservation Of Information; Communications With Securityholders	 	21
	 	 	 	 	 	 
	Section 5.03	 	Reports by the Company	 	21
	 	 	 	 	 	 
	Section 5.04	 	Reports by the Trustee	 	22
	 	 	 	 	 	 
	article 6	REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	 	22
	 	 	 	 	 	 
	Section 6.01	 	Events of Default	 	22
	 	 	 	 	 	 
	Section 6.02	 	Collection of Indebtedness and Suits for Enforcement by Trustee	 	24
	 	 	 	 	 	 
	Section 6.03	 	Application of Moneys Collected	 	25
	 	 	 	 	 	 
	Section 6.04	 	Limitation on Suits	 	26
	 	 	 	 	 	 
	Section 6.05	 	Rights and Remedies Cumulative; Delay or Omission Not Waiver	 	26
	 	 	 	 	 	 
	Section 6.06	 	Control by Securityholders	 	27
	 	 	 	 	 	 
	Section 6.07	 	Undertaking to Pay Costs	 	27
	 	 	 	 	 	 
	article 7	CONCERNING THE TRUSTEE	 	28
	 	 	 	 	 	 
	Section 7.01	 	Certain Duties and Responsibilities of Trustee	 	28
	 	 	 	 	 	 
	Section 7.02	 	Certain Rights of Trustee	 	29
	 	 	 	 	 	 
	Section 7.03	 	Trustee Not Responsible for Recitals or Issuance or Securities	 	31
	 	 	 	 	 	 
	Section 7.04	 	May Hold Securities	 	32
	 	 	 	 	 	 
	Section 7.05	 	Moneys Held in Trust	 	32
	 	 	 	 	 	 
	Section 7.06	 	Compensation and Reimbursement	 	32
	 	 	 	 	 	 
	Section 7.07	 	Reliance on Officer’s Certificate	 	33
	 	 	 	 	 	 
	Section 7.08	 	Disqualification; Conflicting Interests	 	33
	 	 	 	 	 	 
	Section 7.09	 	Corporate Trustee Required; Eligibility	 	33
	 	 	 	 	 	 
	Section 7.10	 	Resignation and Removal; Appointment of Successor	 	33
	 	 	 	 	 	 
	Section 7.11	 	Acceptance of Appointment By Successor	 	35
	 	 	 	 	 	 
	Section 7.12	 	Merger, Conversion, Consolidation or Succession to Business	 	36

   
   

   
  
     ii.

    
      
 

  

   

   
  Table Of Contents

    
   (continued)

   
   

   
   Page

   
   

   
  	Section 7.13	 	Preferential Collection of Claims Against the Company	 	36
	 	 	 	 	 	 
	Section 7.14	 	Notice of Default.	 	36
	 	 	 	 	 	 
	article 8	CONCERNING THE SECURITYHOLDERS	 	37
	 	 	 	 	 	 
	Section 8.01	 	Evidence of Action by Securityholders	 	37
	 	 	 	 	 	 
	Section 8.02	 	Proof of Execution by Securityholders	 	37
	 	 	 	 	 	 
	Section 8.03	 	Who May be Deemed Owners	 	38
	 	 	 	 	 	 
	Section 8.04	 	Certain Securities Owned by Company Disregarded	 	38
	 	 	 	 	 	 
	Section 8.05	 	Actions Binding on Future Securityholders	 	38
	 	 	 	 	 	 
	article 9	SUPPLEMENTAL INDENTURES	 	39
	 	 	 	 	 	 
	Section 9.01	 	Supplemental Indentures Without the Consent of Securityholders	 	39
	 	 	 	 	 	 
	Section 9.02	 	Supplemental Indentures With Consent of Securityholders	 	40
	 	 	 	 	 	 
	Section 9.03	 	Effect of Supplemental Indentures	 	40
	 	 	 	 	 	 
	Section 9.04	 	Securities Affected by Supplemental Indentures	 	40
	 	 	 	 	 	 
	Section 9.05	 	Execution of Supplemental Indentures	 	41
	 	 	 	 	 	 
	article 10	SUCCESSOR ENTITY	 	41
	 	 	 	 	 	 
	Section 10.01	 	Company May Consolidate, Etc.	 	41
	 	 	 	 	 	 
	Section 10.02	 	Successor Entity Substituted	 	42
	 	 	 	 	 	 
	article 11	SATISFACTION AND DISCHARGE	 	42
	 	 	 	 	 	 
	Section 11.01	 	Satisfaction and Discharge of Indenture	 	43
	 	 	 	 	 	 
	Section 11.02	 	Discharge of Obligations	 	43
	 	 	 	 	 	 
	Section 11.03	 	Deposited Moneys to be Held in Trust	 	43
	 	 	 	 	 	 
	Section 11.04	 	Payment of Moneys Held by Paying Agents	 	43
	 	 	 	 	 	 
	Section 11.05	 	Repayment to Company	 	44
	 	 	 	 	 	 
	article 12	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	 	44
	 	 	 	 	 	 
	Section 12.01	 	No Recourse	 	44
	 	 	 	 	 	 
	article 13	MISCELLANEOUS PROVISIONS	 	45
	 	 	 	 	 	 
	Section 13.01	 	Effect on Successors and Assigns	 	45
	 	 	 	 	 	 
	Section 13.02	 	Actions by Successor	 	45
	 	 	 	 	 	 
	Section 13.03	 	Surrender of Company Powers	 	45

   
   

   
  
    iii.

    
      
 

  

   

   
  Table Of Contents

    
   (continued)

   
   

   
   Page

   
   

   
  	Section 13.04	 	Notices	 	45
	 	 	 	 	 	 
	Section 13.05	 	Governing Law; Jury Trial Waiver	 	45
	 	 	 	 	 	 
	Section 13.06	 	Treatment of Securities as Debt	 	46
	 	 	 	 	 	 
	Section 13.07	 	Certificates and Opinions as to Conditions Precedent	 	46
	 	 	 	 	 	 
	Section 13.08	 	Payments on Business Days	 	46
	 	 	 	 	 	 
	Section 13.09	 	Conflict with Trust Indenture Act	 	47
	 	 	 	 	 	 
	Section 13.10	 	Counterparts	 	47
	 	 	 	 	 	 
	Section 13.11	 	Separability	 	47
	 	 	 	 	 	 
	Section 13.12	 	Compliance Certificates	 	47
	 	 	 	 	 	 
	Section 13.13	 	Patriot Act	 	47
	 	 	 	 	 	 
	Section 13.14	 	Force Majeure	 	48
	 	 	 	 	 	 
	Section 13.12	 	Table of Contents; Headings	 	48

   
   

   
  
    iv.

    
      
 

  

   

   
  INDENTURE

   
   

   
  Indenture, dated as of [·], 202[Ÿ], among Kronos Bio, Inc., a Delaware corporation (the “Company”), and [Trustee], as trustee (the
      “Trustee”):

   
   

   
  Whereas, for its lawful corporate
      purposes, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of debt securities (hereinafter referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to
      time in one or more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of the Trustee;

   
   

   
  Whereas, to provide the terms and
      conditions upon which the Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and

   
   

   
  Whereas, all things necessary to
      make this Indenture a valid agreement of the Company, in accordance with its terms, have been done.

   
   

   
  Now, Therefore, in consideration of
      the premises and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities:

   
   

   
  article 1

     

     DEFINITIONS

   
   

   
  Section 1.01        Definitions of
      Terms.

   
   

   
  The terms defined in this Section (except as in this Indenture or any indenture supplemental hereto otherwise expressly
    provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section and shall include the plural as well as the singular. All other
    terms used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended, or that are by reference in such Act defined in the Securities Act of 1933, as amended (except as herein or any indenture supplemental hereto otherwise
    expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as in force at the date of the execution of this instrument.

   
   

   
  “Authenticating Agent” means the Trustee or an authenticating agent with respect to all or any of the series
    of Securities appointed by the Trustee pursuant to Section 2.10.

   
   

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

   
   

   
  “Board of Directors” means the Board of Directors (or the functional equivalent thereof) of the Company or any
    duly authorized committee of such Board.

   
   

   
  
    1

    
      
 

  

   

   
  “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the
    Company to have been duly adopted by the Board of Directors (or duly authorized committee thereof) and to be in full force and effect on the date of such certification.

   
   

   
  “Business Day” means, with respect to any series of Securities, any day other than a day on which federal or
    state banking institutions in the Borough of Manhattan, the City of New York, or in the city of the Corporate Trust Office of the Trustee, are authorized or obligated by law, executive order or regulation to close.

   
   

   
  “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the
    Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time.

   
   

   
  “Company” means Kronos Bio, Inc., a corporation duly organized and existing under the laws of the State of
    Delaware, and, subject to the provisions of Article Ten, shall also include its successors and assigns.

   
   

   
  “Corporate Trust Office” means the office of the Trustee at which, at any particular time, its corporate trust
    business shall be principally administered, which office at the date hereof is located at                                                                                                                                   .

   
   

   
  “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

   
   

   
  “Defaulted Interest” has the meaning set forth in Section 2.03.

   
   

   
  “Depositary” means, with respect to Securities of any series for which the Company shall determine that such
    Securities will be issued as a Global Security, The Depository Trust Company, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or other applicable statute or regulation, which, in each case, shall be
    designated by the Company pursuant to either Section 2.01 or 2.11.

   
   

   
  “Event of Default” means, with respect to Securities of a particular series, any event specified in Section
    6.01, continued for the period of time, if any, therein designated.

   
   

   
  “Exchange Act” means the United States Securities and Exchange Act of 1934, as amended, and the rules and
    regulations promulgated by the Commission thereunder.

   
   

   
  The term “given”, “mailed”, “notify” or “sent” with respect to any
    notice to be given to a Securityholder pursuant to this Indenture, shall mean notice (x) given to the Depositary (or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance
    with accepted practices or procedures at the Depositary (in the case of a Global Security) or (y) mailed to such Securityholder by first class mail, postage prepaid, at its address as it appears on the Security Register (in the case of a definitive
    Security). Notice so “given” shall be deemed to include any notice to be “mailed” or “delivered,” as applicable, under this Indenture.

   
   

   
  
    2

    
      
 

  

   

   
  “Global Security” means a Security issued to evidence all or a part of any series of Securities which is
    executed by the Company and authenticated and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary or its nominee.

   
   

   
  “Governmental Obligations” means securities that are (a) direct obligations of the United States of America
    for the payment of which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the payment of which is unconditionally guaranteed as a
    full faith and credit obligation by the United States of America that, in either case, are not callable or redeemable at the option of the issuer thereof at any time prior to the stated maturity of the Securities, and shall also include a depositary
    receipt issued by a bank or trust company as custodian with respect to any such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian for the account of the holder of such
    depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the
    Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary receipt.

   
   

   
  “herein”, “hereof” and “hereunder”, and other words of similar import, refer to
    this Indenture as a whole and not to any particular Article, Section or other subdivision.

   
   

   
  “Indenture” means this instrument as originally executed or as it may from time to time be supplemented or
    amended by one or more indentures supplemental hereto entered into in accordance with the terms hereof and shall include the terms of particular series of Securities established as contemplated by Section 2.01.

   
   

   
  “Interest Payment Date”, when used with respect to any installment of interest on a Security of a particular
    series, means the date specified in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect to Securities of that series is due and
    payable.

   
   

   
  “Officer” means, with respect to the Company, the chairman of the Board of Directors, a chief executive
    officer, a president, a chief financial officer, a chief operating officer, any executive vice president, any senior vice president, any vice president, the treasurer or any assistant treasurer, the controller or any assistant controller or the
    secretary or any assistant secretary.

   
   

   
  “Officer’s Certificate” means a certificate signed by any Officer. Each such certificate shall include the
    statements provided for in Section 13.07, if and to the extent required by the provisions thereof.

   
   

   
  
    3

    
      
 

  

   

   
  “Opinion of Counsel” means an opinion in writing subject to customary exceptions of legal counsel, who may be
    an employee of or counsel for the Company, that is delivered to the Trustee in accordance with the terms hereof. Each such opinion shall include the statements provided for in Section 13.07, if and to the extent required by the provisions thereof.

   
   

   
  “Outstanding”, when used with reference to Securities of any series, means, subject to the provisions of
    Section 8.04, as of any particular time, all Securities of that series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled by the Trustee or any paying agent, or delivered to the
    Trustee or any paying agent for cancellation or that have previously been canceled; (b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have been deposited in trust
    with the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities or portions of such
    Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article Three, or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities in lieu
    of or in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07.

   
   

   
  “Person” means any individual, corporation, partnership, joint venture, joint-stock company, limited liability
    company, association, trust, unincorporated organization, any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof.

   
   

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

   
   

   
  “Responsible Officer” when used with respect to the Trustee means any officer 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 and also means, with respect to a particular corporate
    trust matter, any other officer to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject and in each case who shall have direct responsibility for the administration of this Indenture.

   
   

   
  “Securities” has the meaning stated in the first recital of this Indenture and more particularly means any
    Securities authenticated and delivered under this Indenture.

   
   

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

   
   

   
  “Securityholder”, “holder of Securities”, “registered holder”, or other similar term, means the Person
    or Persons in whose name or names a particular Security is registered on the Security Register kept for that purpose in accordance with the terms of this Indenture.

   
   

   
  
    4

    
      
 

  

   

   
  “Security Register” and “Security Registrar” shall have the meanings as set forth in
    Section 2.05.

   
   

   
  “Subsidiary” means, with respect to any Person, any corporation, association, partnership or other business entity of which more
    than 50% of the total voting power of shares of capital stock or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, general partners or
    trustees thereof is at the time owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries of such Person.

   
   

   
  “Trustee” means _________________________, and, subject to the provisions of Article Seven, shall also include
    its successors and assigns, and, if at any time there is more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term “Trustee” as used with respect to a particular series of the Securities shall mean the
    trustee with respect to that series.

   
   

   
  “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended.

   
   

   
  “U.S.A. Patriot Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to
    Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56, as amended and signed into law October 26, 2001.

   
   

   
  article 2

     

     ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES

   
   

   
  Section 2.01        Designation and
      Terms of Securities.

   
   

   
  (a)          The aggregate principal
    amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more series up to the aggregate principal amount of Securities of that series from time to time authorized by or
    pursuant to a Board Resolution or pursuant to one or more indentures supplemental hereto. Prior to the initial issuance of Securities of any series, there shall be established in or pursuant to a Board Resolution, and set forth in an Officer’s
    Certificate, or established in one or more indentures supplemental hereto:

   
   

   
  (1)               the title of the
    Securities of the series (which shall distinguish the Securities of that series from all other Securities);

   
   

   
  (2)               any limit upon
    the aggregate principal amount of the Securities of that series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other
    Securities of that series);

   
   

   
  
    5

    
      
 

  

   

   
  (3)               the maturity date
    or dates on which the principal of the Securities of the series is payable;

   
   

   
  (4)               the form of the
    Securities of the series including the form of the certificate of authentication for such series;

   
   

   
  (5)               the applicability
    of any guarantees;

   
   

   
  (6)               whether or not
    the Securities will be secured or unsecured, and the terms of any secured debt;

   
   

   
  (7)               whether the
    Securities rank as senior debt, senior subordinated debt, subordinated debt or any combination thereof, and the terms of any subordination;

   
   

   
  (8)               if the price
    (expressed as a percentage of the aggregate principal amount thereof) at which such Securities will be issued is a price other than the principal amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration of
    the maturity thereof, or if applicable, the portion of the principal amount of such Securities that is convertible into another security or the method by which any such portion shall be determined;

   
   

   
  (9)               the interest rate
    or rates, which may be fixed or variable, or the method for determining the rate and the date interest will begin to accrue, the dates interest will be payable and the regular record dates for interest payment dates or the method for determining such
    dates;

   
   

   
  (10)           the Company’s right,
    if any, to defer the payment of interest and the maximum length of any such deferral period;

   
   

   
  (11)           if applicable, the
    date or dates after which, or the period or periods during which, and the price or prices at which, the Company may at its option, redeem the series of Securities pursuant to any optional or provisional redemption provisions and the terms of those
    redemption provisions;

   
   

   
  (12)           the date or dates,
    if any, on which, and the price or prices at which the Company is obligated, pursuant to any mandatory sinking fund or analogous fund provisions or otherwise, to redeem, or at the Securityholder’s option to purchase, the series of Securities and the
    currency or currency unit in which the Securities are payable;

   
   

   
  (13)           the denominations in
    which the Securities of the series shall be issuable, if other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof;

   
   

   
  (14)           any and all terms,
    if applicable, relating to any auction or remarketing of the Securities of that series and any security for the obligations of the Company with respect to such Securities and any other terms which may be advisable in connection with the marketing of
    Securities of that series;

   
   

   
  
    6

    
      
 

  

   

   
  (15)           whether the
    Securities of the series shall be issued in whole or in part in the form of a Global Security or Securities; the terms and conditions, if any, upon which such Global Security or Securities may be exchanged in whole or in part for other individual
    Securities; and the Depositary for such Global Security or Securities;

   
   

   
  (16)           if applicable, the
    provisions relating to conversion or exchange of any Securities of the series and the terms and conditions upon which such Securities will be so convertible or exchangeable, including the conversion or exchange price, as applicable, or how it will be
    calculated and may be adjusted, any mandatory or optional (at the Company’s option or the holders’ option) conversion or exchange features, the applicable conversion or exchange period and the manner of settlement for any conversion or exchange, which
    may, without limitation, include the payment of cash as well as the delivery of securities;

   
   

   
  (17)           if other than the
    full principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01;

   
   

   
  (18)           additions to or
    changes in the covenants applicable to the series of Securities being issued, including, among others, the consolidation, merger or sale covenant;

   
   

   
  (19)           additions to or
    changes in the Events of Default with respect to the Securities and any change in the right of the Trustee or the Securityholders to declare the principal, premium, if any, and interest, if any, with respect to such Securities to be due and payable;

   
   

   
  (20)           additions to or
    changes in or deletions of the provisions relating to covenant defeasance and legal defeasance;

   
   

   
  (21)           additions to or
    changes in the provisions relating to satisfaction and discharge of this Indenture;

   
   

   
  (22)           additions to or
    changes in the provisions relating to the modification of this Indenture both with and without the consent of Securityholders of Securities issued under this Indenture;

   
   

   
  (23)           the currency of
    payment of Securities if other than U.S. dollars and the manner of determining the equivalent amount in U.S. dollars;

   
   

   
  (24)           whether interest
    will be payable in cash or additional Securities at the Company’s or the Securityholders’ option and the terms and conditions upon which the election may be made;

   
   

   
  (25)           the terms and
    conditions, if any, upon which the Company shall pay amounts in addition to the stated interest, premium, if any and principal amounts of the Securities of the series to any Securityholder that is not a “United States person” for federal tax purposes;

   
   

   
  
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  (26)           any restrictions on
    transfer, sale or assignment of the Securities of the series; and

   
   

   
  (27)           any other specific
    terms, preferences, rights or limitations of, or restrictions on, the Securities, any other additions or changes in the provisions of this Indenture, and any terms that may be required by us or advisable under applicable laws or regulations.

   
   

   
  All Securities of any one series shall be substantially identical except as may otherwise be provided in or pursuant to any
    such Board Resolution or in any indentures supplemental hereto.

   
   

   
  If any of the terms of the series are established by action taken pursuant to a Board Resolution of the Company, a copy of
    an appropriate record of such action shall be certified by the secretary or an assistant secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate of the Company setting forth the terms of the
    series.

   
   

   
  Securities of any particular series may be issued at various times, with different dates on which the principal or any
    installment of principal is payable, with different rates of interest, if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable and with different redemption dates.

   
   

   
  Section 2.02        Form of Securities
      and Trustee’s Certificate.

   
   

   
  The Securities of any series and the Trustee’s certificate of authentication to be borne by such Securities shall be
    substantially of the tenor and purport as set forth in one or more indentures supplemental hereto or as provided in a Board Resolution, and set forth in an Officer’s Certificate, and they may have such letters, numbers or other marks of identification
    or designation and such legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any
    rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange on which Securities of that series may be listed, or to conform to usage.

   
   

   
  Section 2.03        Denominations:
      Provisions for Payment.

   
   

   
  The Securities shall be issuable as registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or
    any integral multiple thereof, subject to Section 2.01(a)(13). The Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. Subject to Section 2.01(a)(23), the principal of and
    the interest on the Securities of any series, as well as any premium thereon in case of redemption or repurchase thereof prior to maturity, and any cash amount due upon conversion or exchange thereof, shall be payable in the coin or currency of the
    United States of America that at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose. Each Security shall be dated the date of its authentication. Interest on the Securities shall be
    computed on the basis of a 360-day year composed of twelve 30-day months.

   
   

   
  
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  The interest installment on any Security that is payable, and is punctually paid or duly provided for, on any Interest
    Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest installment. In the event
    that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such
    Security will be paid upon presentation and surrender of such Security as provided in Section 3.03.

   
   

   
  Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date
    for Securities of the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by
    the Company, at its election, as provided in clause (1) or clause (2) below:

   
   

   
  (1)             The Company may make
    payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered in the Security Register at the close of business on a special record date for the payment of such
    Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time
    the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the
    proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted
    Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of
    such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be sent, to each Securityholder not less than 10 days prior to
    such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been sent as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their
    respective Predecessor Securities) are registered in the Security Register on such special record date.

   
   

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

   
   

   
  Unless otherwise set forth in a Board Resolution or one or more indentures supplemental hereto establishing the terms of any
    series of Securities pursuant to Section 2.01 hereof, the term “regular record date” as used in this Section with respect to a series of Securities and any Interest Payment Date for such series shall mean either the fifteenth day of the month
    immediately preceding the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the first day of a month, or the first day of the month in which an Interest
    Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day of a month, whether or not such date is a Business Day.

   
   

   
  
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  Subject to the foregoing provisions of this Section, each Security of a series delivered under this Indenture upon transfer
    of or in exchange for or in lieu of any other Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security.

   
   

   
  Section 2.04        Execution and
      Authentications.

   
   

   
  The Securities shall be signed on behalf of the Company by one of its Officers. Signatures may be in the form of a manual or
    facsimile signature.

   
   

   
  The Company may use the facsimile signature of any Person who shall have been an Officer (at the time of execution),
    notwithstanding the fact that at the time the Securities shall be authenticated and delivered or disposed of such Person shall have ceased to be such an officer of the Company. The Securities may contain such notations, legends or endorsements required
    by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication by the Trustee.

   
   

   
  A Security shall not be valid until authenticated manually by an authorized signatory of the Trustee, or by an
    Authenticating Agent. Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture. At any time and from time to
    time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a written order of the Company for the authentication and delivery of
    such Securities, signed by an Officer, and the Trustee in accordance with such written order shall authenticate and deliver such Securities.

   
   

   
  Upon the Company’s delivery of any such authentication order to the Trustee at any time after the initial issuance of
    Securities under this Indenture, the Trustee shall be provided with, and (subject to Sections 315(a) through 315(d) of the Trust Indenture Act) shall be fully protected in relying upon, (1) an Opinion of Counsel or reliance letter and (2) an Officer’s
    Certificate stating that all conditions precedent to the execution, authentication and delivery of such Securities are in conformity with the provisions of this Indenture.

   
   

   
  The Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture
    will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee.

   
   

   
  
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  Section 2.05        Registration of
      Transfer and Exchange.

   
   

   
  (a)          Securities of any series
    may be exchanged upon presentation thereof at the office or agency of the Company designated for such purpose, for other Securities of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a sum sufficient
    to cover any tax or other governmental charge in relation thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency shall
    deliver in exchange therefor the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding.

   
   

   
  (b)          The Company shall keep,
    or cause to be kept, at its office or agency designated for such purpose a register or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall register the
    Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the purpose of registering Securities and transfer of Securities as herein provided
    shall be appointed as authorized by Board Resolution or Supplemental Indenture (the “Security Registrar”).

   
   

   
  Upon surrender for transfer of any Security at the office or agency of the Company designated for such purpose, the Company
    shall execute, the Trustee shall authenticate and such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented for a like aggregate principal amount.

   
   

   
  The Company initially appoints the Trustee as Security Registrar for each series of Securities.

   
   

   
  All Securities presented or surrendered for exchange or registration of transfer, as provided in this Section, shall be
    accompanied (if so required by the Company or the Security Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the registered holder or by such holder’s duly
    authorized attorney in writing.

   
   

   
  (c)          Except as provided
    pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental to this Indenture, no service charge shall be made for any exchange or registration of transfer of
    Securities, or issue of new Securities in case of partial redemption of any series or repurchase, conversion or exchange of less than the entire principal amount of a Security, but the Company may require payment of a sum sufficient to cover any tax or
    other governmental charge in relation thereto, other than exchanges pursuant to Section 2.06, Section 3.03(b) and Section 9.04 not involving any transfer.

   
   

   
  (d)          The Company and the
    Security Registrar shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning at the opening of business 15 days before the day of the sending of a notice of redemption of less than all the
    Outstanding Securities of the same series and ending at the close of business on the day of such sending, nor (ii) to register the transfer of or exchange any Securities of any series or portions thereof called for redemption or surrendered for
    repurchase, but not validly withdrawn, other than the unredeemed portion of any such Securities being redeemed in part or not surrendered for repurchase, as the case may be. The provisions of this Section 2.05 are, with respect to any Global Security,
    subject to Section 2.11 hereof.

   
   

   
  
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  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 Security (including any transfers between or among Depositary participants or beneficial owners of interests in any Global Security) other
    than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly 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 2.06        Temporary
      Securities.

   
   

   
  Pending the preparation of definitive Securities of any series, the Company may execute, and the Trustee shall authenticate
    and deliver, temporary Securities (printed, lithographed or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which they are issued, but with such
    omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the Trustee upon the same
    conditions and in substantially the same manner, and with like effect, as the definitive Securities of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon any or all
    temporary Securities of such series may be surrendered in exchange therefor (without charge to the Securityholders), at the office or agency of the Company designated for the purpose, and the Trustee shall authenticate and such office or agency shall
    deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that definitive Securities need not be executed and furnished until
    further notice from the Company. Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated and delivered hereunder.

   
   

   
  Section 2.07        Mutilated,
      Destroyed, Lost or Stolen Securities.

   
   

   
  In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to
    the next succeeding sentence) shall execute, and upon the Company’s request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and
    substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity as
    may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s
    Security and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the written request or authorization of any officer of the Company. Upon the issuance of any substituted Security, the Company
    may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.

   
   

   
  
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  In case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the
    Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such
    security or indemnity as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof.

   
   

   
  Every replacement Security issued pursuant to the provisions of this Section shall constitute an additional contractual
    obligation of the Company whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all
    other Securities of the same series duly issued hereunder. All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen
    Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other
    securities without their surrender.

   
   

   
  Section 2.08        Cancellation.

   
   

   
  All Securities surrendered for the purpose of payment, redemption, repurchase, exchange, registration of transfer or
    conversion shall, if surrendered to the Company or any paying agent (or any other applicable agent), be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu
    thereof except as expressly required or permitted by any of the provisions of this Indenture. On request of the Company at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of
    such request the Trustee may dispose of canceled Securities in accordance with its standard procedures and deliver a certificate of disposition to the Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition
    shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

   
   

   
  Section 2.09        Benefits of
      Indenture.

   
   

   
  Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other
    than the parties hereto and the holders of the Securities any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and provisions
    being for the sole benefit of the parties hereto and of the holders of the Securities.

   
   

   
  
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  Section 2.10        Authenticating
      Agent.

   
   

   
  So long as any of the Securities of any series remain Outstanding there may be an Authenticating Agent for any or all such
    series of Securities which the Trustee shall have the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or partial redemption,
    repurchase or conversion thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to
    the authentication of Securities by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital
    and surplus, as most recently reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to
    conduct such business and is subject to supervision or examination by federal or state authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately.

   
   

   
  Any Authenticating Agent may at any time resign by giving written notice of resignation to the Trustee and to the Company.
    The Trustee may at any time (and upon request by the Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon resignation, termination or cessation of
    eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the
    rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto.

   
   

   
  Section 2.11        Global Securities.

   
   

   
  (a)          If the Company shall
    establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as a Global Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.04, authenticate and deliver, a Global Security that
    (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, all of the Outstanding Securities of such series, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall be delivered by
    the Trustee to the Depositary or pursuant to the Depositary’s instruction (or if the Depositary names the Trustee as its custodian, retained by the Trustee), and (iv) shall bear a legend substantially to the following effect: “Except as otherwise
    provided in Section 2.11 of the Indenture, this Security may be transferred, in whole but not in part, only to another nominee of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.”

   
   

   
  (b)          Notwithstanding the
    provisions of Section 2.05, the Global Security of a series may be transferred, in whole but not in part and in the manner provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary for such series
    selected or approved by the Company or to a nominee of such successor Depositary.

   
   

   
  
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  (c)          If at any time the
    Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the
    Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, or if an
    Event of Default has occurred and is continuing and the Company has received a request from the Depositary or from the Trustee, this Section 2.11 shall no longer be applicable to the Securities of such series and the Company will execute, and subject
    to Section 2.04, the Trustee will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global
    Security of such series in exchange for such Global Security. In addition, the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the provisions of this Section 2.11 shall no
    longer apply to the Securities of such series. In such event the Company will execute and, subject to Section 2.04, the Trustee, upon receipt of an Officer’s Certificate evidencing such determination by the Company, will authenticate and deliver the
    Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. Upon
    the exchange of the Global Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange
    for the Global Security pursuant to this Section 2.11(c) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the
    Trustee. The Trustee shall deliver such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered.

   
   

   
  Section 2.12        CUSIP Numbers.

   
   

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

   
   

   
  
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  article 3

     

     REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

   
   

   
  Section 3.01        Redemption.

   
   

   
  The Company may redeem the Securities of any series issued hereunder on and after the dates and in accordance with the terms
    established for such series pursuant to Section 2.01 hereof.

   
   

   
  Section 3.02        Notice of
      Redemption.

   
   

   
  (a)   In case the Company shall
    desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of any series in accordance with any right the Company reserved for itself to do so pursuant to Section 2.01 hereof, the Company shall, or shall cause the
    Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed by mailing (or with regard to any Global Security held in book entry form, by electronic mail in accordance with the applicable procedures of the
    Depositary), a notice of such redemption not less than 30 days and not more than 90 days before the date fixed for redemption of that series to such Securityholders, unless a shorter period is specified in the Securities to be redeemed. Any notice that
    is mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice to the holder of any Security of any series
    designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the proceedings for the redemption of any other Securities of such series or any other series. In the case of any redemption of Securities
    prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with any such restriction.

   
   

   
  Each such notice of redemption shall identify the Securities to be redeemed (including CUSIP numbers, if any), specify the
    date fixed for redemption and the redemption price at which Securities of that series are to be redeemed, and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company, upon
    presentation and surrender of such Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after said date interest will cease to accrue and that the redemption is from a sinking fund,
    if such is the case. If less than all the Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in part shall specify the particular Securities to be so redeemed.

   
   

   
  In case any Security is to be redeemed in part only, the notice that relates to such Security shall state the portion of the
    principal amount thereof to be redeemed, and shall state that on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed portion thereof will be issued.

   
   

   
  
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  (b)          If less than all the
    Securities of a series are to be redeemed, the Company shall give the Trustee at least 45 days’ notice (unless a shorter notice shall be satisfactory to the Trustee) in advance of the date fixed for redemption as to the aggregate principal amount of
    Securities of the series to be redeemed, and thereupon the Securities to be redeemed shall be selected, by lot, on a pro rata basis, or in such other manner as the Company shall deem appropriate and fair in its discretion and that may provide for the
    selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000, the Securities to be redeemed and shall thereafter
    promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole or in part. The Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Officer, instruct the Trustee or any
    paying agent to call all or any part of the Securities of a particular series for redemption and to give notice of redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name as the Trustee or such
    paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such paying agent, as the
    case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or such paying agent to give any notice by mail that may be required under the provisions of this Section.

   
   

   
  Section 3.03        Payment Upon
      Redemption.

   
   

   
  (a)          If the giving of notice
    of redemption shall have been completed as above provided, the Securities or portions of Securities of the series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable
    redemption price, together with interest accrued to, but excluding, the date fixed for redemption and interest on such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall
    default in the payment of such redemption price and accrued interest with respect to any such Security or portion thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in
    the notice, said Securities shall be paid and redeemed at the applicable redemption price for such series, together with interest accrued thereon to, but excluding, the date fixed for redemption (but if the date fixed for redemption is an Interest
    Payment Date, the interest installment payable on such date shall be payable to the registered holder at the close of business on the applicable record date pursuant to Section 2.03).

   
   

   
  (b)          Upon presentation of any
    Security of such series that is to be redeemed in part only, the Company shall execute and the Trustee shall authenticate and the office or agency where the Security is presented shall deliver to the Securityholder thereof, at the expense of the
    Company, a new Security of the same series of authorized denominations in principal amount equal to the unredeemed portion of the Security so presented.

   
   

   
  Section 3.04        Sinking Fund.

   
   

   
  The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a
    series, except as otherwise specified as contemplated by Section 2.01 for Securities of such series.

   
   

   
  
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  The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to
    as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment”. If provided for by the terms of Securities of any
    series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such
    series.

   
   

   
  Section 3.05        Satisfaction of
      Sinking Fund Payments with Securities.

   
   

   
  The Company (i) may deliver Outstanding Securities of a series and (ii) may apply as a credit Securities of a series that
    have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or
    any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such series, provided that such Securities have not been previously so
    credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be
    reduced accordingly.

   
   

   
  Section 3.06        Redemption of
      Securities for Sinking Fund.

   
   

   
  Not less than 45 days prior to each sinking fund payment date for any series of Securities (unless a shorter period shall be
    satisfactory to the Trustee), the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that is to
    be satisfied by delivering and crediting Securities of that series pursuant to Section 3.05 and the basis for such credit and will, together with such Officer’s Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30
    days before each such sinking fund payment date the Securities to be redeemed upon such sinking fund payment date shall be selected in the manner specified in Section 3.02 and the Company shall cause notice of the redemption thereof to be given in the
    name of and at the expense of the Company in the manner provided in Section 3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 3.03.

   
   

   
  article 4

     

     COVENANTS

   
   

   
  Section 4.01        Payment of
      Principal, Premium and Interest.

   
   

   
  The Company will duly and punctually pay or cause to be paid the principal of (and premium, if any) and interest on the
    Securities of that series at the time and place and in the manner provided herein and established with respect to such Securities. Payments of principal on the Securities may be made at the time provided herein and established with respect to such
    Securities by U.S. dollar check drawn on and mailed to the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account if such Securityholder shall have
    furnished wire instructions to the Trustee no later than 15 days prior to the relevant payment date. Payments of interest on the Securities may be made at the time provided herein and established with respect to such Securities by U.S. dollar check
    mailed to the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account if such Securityholder shall have furnished wire instructions in writing to the
    Security Registrar and the Trustee no later than 15 days prior to the relevant payment date.

   
   

   
  
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  Section 4.02        Maintenance of
      Office or Agency.

   
   

   
  So long as any series of the Securities remain Outstanding, the Company agrees to maintain an office or agency with respect
    to each such series and at such other location or locations as may be designated as provided in this Section 4.02, where (i) Securities of that series may be presented for payment, (ii) Securities of that series may be presented as herein above
    authorized for registration of transfer and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be given or served, such designation to continue with respect to such office
    or agency until the Company shall, by written notice signed by any officer authorized to sign an Officer’s Certificate and delivered to the Trustee, designate some other office or agency for such purposes or any of them. If at any time the Company
    shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby
    appoints the Trustee as its agent to receive all such presentations, notices and demands. The Company initially appoints the Corporate Trust Office of the Trustee as its paying agent with respect to the Securities.

   
   

   
  Section 4.03        Paying Agents.

   
   

   
  (a)   If the Company shall appoint
    one or more paying agents for all or any series of the Securities, other than the Trustee, the Company will cause each such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to
    the provisions of this Section:

   
   

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

   
   

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

   
   

   
  (3)             that it will, at any
    time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and

   
   

   
  
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  (4)             that it will perform
    all other duties of paying agent as set forth in this Indenture.

   
   

   
  (b)           If the Company shall act
    as its own paying agent with respect to any series of the Securities, it will on or before each due date of the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for the benefit of the
    Persons entitled thereto a sum sufficient to pay such principal (and premium, if any) or interest so becoming due on Securities of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly
    notify the Trustee of such action, or any failure (by it or any other obligor on such Securities) to take such action. Whenever the Company shall have one or more paying agents for any series of Securities, it will, prior to each due date of the
    principal of (and premium, if any) or interest on any Securities of that series, deposit with the paying agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the
    Persons entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly notify the Trustee of this action or failure so to act.

   
   

   
  (c)           Notwithstanding anything
    in this Section to the contrary, (i) the agreement to hold sums in trust as provided in this Section is subject to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and discharge of
    this Indenture or for any other purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust by the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such
    sums were held by the Company or such paying agent; and, upon such payment by the Company or any paying agent to the Trustee, the Company or such paying agent shall be released from all further liability with respect to such money.

   
   

   
  Section 4.04        Appointment to Fill
      Vacancy in Office of Trustee.

   
   

   
  The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in
    Section 7.10, a Trustee, so that there shall at all times be a Trustee hereunder.

   
   

   
  article 5

     

     SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

   
   

   
  Section 5.01        Company to Furnish
      Trustee Names and Addresses of Securityholders.

   
   

   
  The Company will furnish or cause to be furnished to the Trustee (a) within 15 days after each regular record date (as
    defined in Section 2.03) a list, in such form as the Trustee may reasonably require, of the names and addresses of the holders of each series of Securities as of such regular record date, provided that the Company shall not be obligated to furnish or
    cause to furnish such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the Company and (b) at such other times as the Trustee may request in writing within 30 days after the receipt by
    the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that, in either case, no such list need be furnished for any series for which the
    Trustee shall be the Security Registrar.

   
   

   
  
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  Section 5.02        Preservation Of
      Information; Communications With Securityholders.

   
   

   
  (a)          The Trustee shall
    preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses of
    holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity).

   
   

   
  (b)          The Trustee may destroy
    any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished.

   
   

   
  (c)          Securityholders may
    communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders with respect to their rights under this Indenture or under the Securities, and, in connection with any such communications, the Trustee shall satisfy its
    obligations under Section 312(b) of the Trust Indenture Act in accordance with the provisions of Section 312(b) of the Trust Indenture Act.

   
   

   
  Section 5.03        Reports by the
      Company.

   
   

   
  (a)          The Company will at all
    times comply with Section 314(a) of the Trust Indenture Act. The Company covenants and agrees to provide (which delivery may be via electronic mail) to the Trustee within 30 days, after the Company files the same with the Commission, copies of the
    annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company is required to file with the Commission
    pursuant to Section 13 or Section 15(d) of the Exchange Act; provided, however, the Company shall not be required to deliver to the Trustee any correspondence filed with the Commission or any materials for which the Company has sought and received
    confidential treatment by the Commission; and provided further, that so long as such filings by the Company are available on the Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR), or any successor system, such filings shall
    be deemed to have been filed with the Trustee for purposes hereof without any further action required by the Company. For the avoidance of doubt, a failure by the Company to file annual reports, information and other reports with the Commission within
    the time period prescribed thereof by the Commission shall not be deemed a breach of this Section 5.03.

   
   

   
  (b)          Delivery of reports,
    information and documents to the Trustee under Section 5.03 is for informational purposes only and the information and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein, or determinable
    from information contained therein including the Company’s compliance with any of their covenants thereunder (as to which the Trustee is entitled to rely exclusively on an Officer’s Certificate). The Trustee is under no duty to examine any such
    reports, information or documents delivered to the Trustee or filed with the Commission via EDGAR to ensure compliance with the provision of this Indenture or to ascertain the correctness or otherwise of the information or the statements contained
    therein. The Trustee shall have no responsibility or duty whatsoever to ascertain or determine whether the above referenced filings with the Commission on EDGAR (or any successor system) has occurred.

   
   

   
  
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  Section 5.04        Reports by the
      Trustee.

   
   

   
  (a)          If required by Section
    313(a) of the Trust Indenture Act, the Trustee, within sixty (60) days after each May 1, shall send to the Securityholders a brief report dated as of such May 1, which complies with Section 313(a) of the Trust Indenture Act.

   
   

   
  (b)          The Trustee shall comply
    with Section 313(b) and 313(c) of the Trust Indenture Act.

   
   

   
  (c)          A copy of each such
    report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company, with each securities exchange upon which any Securities are listed (if so listed) and also with the Commission. The Company agrees to notify
    the Trustee when any Securities become listed on any securities exchange.

   
   

   
  article 6

     

     REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

   
   

   
  Section 6.01        Events of Default.

   
   

   
  (a)          Whenever used herein with
    respect to Securities of a particular series, “Event of Default” means any one or more of the following events that has occurred and is continuing:

   
   

   
  (1)             the Company defaults
    in the payment of any installment of interest upon any of the Securities of that series, as and when the same shall become due and payable, and such default continues for a period of 90 days; provided, however, that a valid extension of an interest
    payment period by the Company in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of interest for this purpose;

   
   

   
  (2)             the Company defaults
    in the payment of the principal of (or premium, if any, on) any of the Securities of that series as and when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment required by any
    sinking or analogous fund established with respect to that series; provided, however, that a valid extension of the maturity of such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the
    payment of principal or premium, if any;

   
   

   
  
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  (3)             the Company fails to
    observe or perform any other of its covenants or agreements with respect to that series contained in this Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant or agreement
    that has been expressly included in this Indenture solely for the benefit of one or more series of Securities other than such series) for a period of 90 days after the date on which written notice of such failure, requiring the same to be remedied and
    stating that such notice is a “Notice of Default” hereunder, shall have been given to the Company by the Trustee, by registered or certified mail, or to the Company and the Trustee by the holders of at least 25% in principal amount of the Securities of
    that series at the time Outstanding;

   
   

   
  (4)             the Company pursuant
    to or within the meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or substantially all
    of its property or (iv) makes a general assignment for the benefit of its creditors; or

   
   

   
  (5)             a court of competent
    jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against the Company in an involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property or (iii) orders the liquidation of the
    Company, and the order or decree remains unstayed and in effect for 90 days.

   
   

   
  (b)           In each and every such
    case (other than an Event of Default specified in clause (4) or clause (5) above), unless the principal of all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate
    principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by such Securityholders), may declare the principal of (and premium, if any, on) and accrued and unpaid
    interest on all the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in clause (4) or clause (5) above occurs,
    the principal of and accrued and unpaid interest on all the Securities of that series shall automatically be immediately due and payable without any declaration or other act on the part of the Trustee or the holders of the Securities.

   
   

   
  (c)           At any time after the
    principal of (and premium, if any, on) and accrued and unpaid interest on the Securities of that series shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered
    as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences
    if: (i) the Company has paid or deposited with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of that series and the principal of (and premium, if any, on) any and all Securities of that series that
    shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any, and, to the extent that such payment is enforceable under applicable law, upon overdue installments of interest, at the rate per annum
    expressed in the Securities of that series to the date of such payment or deposit) and the amount payable to the Trustee under Section 7.06, and (ii) any and all Events of Default under the Indenture with respect to such series, other than the
    nonpayment of principal on (and premium, if any, on) and accrued and unpaid interest on Securities of that series that shall not have become due by their terms, shall have been remedied or waived as provided in Section 6.06.

   
   

   
  
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  No such rescission and annulment shall extend to or shall affect any subsequent default or impair any right consequent
    thereon.

   
   

   
  (d)          In case the Trustee shall
    have proceeded to enforce any right with respect to Securities of that series under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been
    determined adversely to the Trustee, then and in every such case, subject to any determination in such proceedings, the Company and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and
    powers of the Company and the Trustee shall continue as though no such proceedings had been taken.

   
   

   
  Section 6.02        Collection of
      Indebtedness and Suits for Enforcement by Trustee.

   
   

   
  (a)          The Company covenants
    that (i) in case it shall default in the payment of any installment of interest on any of the Securities of a series, or in any payment required by any sinking or analogous fund established with respect to that series as and when the same shall have
    become due and payable, and such default shall have continued for a period of 90 days, or (ii) in case it shall default in the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have become due
    and payable, whether upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Securities of that series,
    the whole amount that then shall have been become due and payable on all such Securities for principal (and premium, if any) or interest, or both, as the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent
    that payment of such interest is enforceable under applicable law) upon overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the
    costs and expenses of collection, and the amount payable to the Trustee under Section 7.06.

   
   

   
  (b)          If the Company shall fail
    to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and
    unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to
    be payable in the manner provided by law or equity out of the property of the Company or other obligor upon the Securities of that series, wherever situated.

   
   

   
  
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  (c)          In case of any
    receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or judicial proceedings affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings and
    take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of
    the Trustee and of the holders of Securities of such series allowed for the entire amount due and payable by the Company under the Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by
    the Company after such date, and to collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute the same after the deduction of the amount payable to the Trustee under Section 7.06; and any receiver,
    assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the holders of Securities 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 such Securityholders, to pay to the Trustee any amount due it under Section 7.06.

   
   

   
  (d)          All rights of action and
    of asserting claims under this Indenture, or under any of the terms established with respect to Securities of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial or other
    proceeding relative thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts due
    under Section 7.06, be for the ratable benefit of the holders of the Securities of such series.

   
   

   
  In case of an Event of Default hereunder, the Trustee may in its discretion proceed to protect and enforce the rights vested
    in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any
    covenant or agreement contained in the Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

   
   

   
  Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of
    any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of that series or the rights of any Securityholder thereof or to authorize the Trustee to vote in respect of the claim of any Securityholder
    in any such proceeding.

   
   

   
  Section 6.03        Application of
      Moneys Collected.

   
   

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

   
   

   
  FIRST: To the payment of costs and expenses of collection and of all amounts payable to the Trustee under Section 7.06;

   
   

   
  SECOND: To the payment of the amounts then due and unpaid upon Securities of such series for principal (and premium, if any)
    and interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal (and premium, if any) and
    interest, respectively; and

   
   

   
  
    25

    
      
 

  

   

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

   
   

   
  Section 6.04        Limitation on Suits.

   
   

   
  No holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture to
    institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (i) such Securityholder previously shall have given
    to the Trustee written notice of an Event of Default and of the continuance thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of not less than 25% in aggregate principal
    amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder; (iii) such Securityholder or Securityholders shall have offered
    to the Trustee indemnity satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request; (iv) the Trustee for 90 days after its receipt of such notice, request and offer of indemnity, shall have failed to
    institute any such action, suit or proceeding and (v) during such 90 day period, the holders of a majority in principal amount of the Securities of that series do not give the Trustee a direction inconsistent with the request.

   
   

   
  Notwithstanding anything contained herein to the contrary or any other provisions of this Indenture, the right of any holder
    of any Security to receive payment of the principal of (and premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the case of redemption, on the redemption date), or
    to institute suit for the enforcement of any such payment on or after such respective dates or redemption date, shall not be impaired or affected without the consent of such holder and by accepting a Security hereunder it is expressly understood,
    intended and covenanted by the taker and holder of every Security of such series with every other such taker and holder and the Trustee, that no one or more holders of Securities of such series shall have any right in any manner whatsoever by virtue or
    by availing of any provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under
    this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such series. For the protection and enforcement of the provisions of this Section, each and every Securityholder and the
    Trustee shall be entitled to such relief as can be given either at law or in equity.

   
   

   
  Section 6.05        Rights and Remedies
      Cumulative; Delay or Omission Not Waiver.

   
   

   
  (a)          Except as otherwise
    provided in Section 2.07, all powers and remedies given by this Article to the Trustee or to the Securityholders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or
    the holders of the Securities, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture or otherwise established with respect to such Securities.

   
   

   
  
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  (b)          No delay or omission of
    the Trustee or of any holder of any of the Securities to exercise any right or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default
    or an acquiescence therein; and, subject to the provisions of Section 6.04, every power and remedy given by this Article or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by
    the Trustee or by the Securityholders.

   
   

   
  Section 6.06        Control by
      Securityholders.

   
   

   
  The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding, determined
    in accordance with Section 8.04, shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to such series;
    provided, however, that such direction shall not be in conflict with any rule of law or with this Indenture or subject the Trustee in its sole discretion to personal liability. Subject to the provisions of Section 7.01, the Trustee shall have the right
    to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or officers of the Trustee, determine that the proceeding so directed, subject to the Trustee’s duties under the Trust Indenture Act, would involve the
    Trustee in personal liability or might be unduly prejudicial to the Securityholders not involved in the proceeding. The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding affected thereby,
    determined in accordance with Section 8.04, may on behalf of the holders of all of the Securities of such series waive any past default in the performance of any of the covenants contained herein or established pursuant to Section 2.01 with respect to
    such series and its consequences, except a default in the payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as and when the same shall become due by the terms of such Securities otherwise than by
    acceleration (unless such default has been cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with the Trustee (in accordance with Section 6.01(c)). Upon any such waiver, the default
    covered thereby shall be deemed to be cured for all purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such
    waiver shall extend to any subsequent or other default or impair any right consequent thereon.

   
   

   
  Section 6.07        Undertaking to Pay
      Costs.

   
   

   
  All parties to this Indenture agree, and each holder of any Securities by such holder’s acceptance thereof shall be deemed
    to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party
    litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to
    the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders,
    holding more than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security of
    such series, on or after the respective due dates expressed in such Security or established pursuant to this Indenture.

   
   

   
  
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  article 7

     

     CONCERNING THE TRUSTEE

   
   

   
  Section 7.01        Certain Duties and
      Responsibilities of Trustee.

   
   

   
  (a)          The Trustee, prior to the
    occurrence of an Event of Default with respect to the Securities of a series and after the curing of all Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with respect to the Securities
    of such series such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has
    occurred (that has not been cured or waived), the Trustee shall exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent
    man would exercise or use under the circumstances in the conduct of his or her own affairs.

   
   

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

   
   

   
  (i)           prior to the occurrence
    of an Event of Default with respect to the Securities of a series and after the curing or waiving of all such Events of Default with respect to that series that may have occurred:

   
   

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

   
   

   
  (B)              in the absence of
    bad faith on the part of the Trustee, the Trustee may with respect to the Securities of such series conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished
    to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to
    examine the same to determine whether or not they conform to the requirements of this Indenture;

   
   

   
  
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  (ii)         the Trustee shall not be
    liable to any Securityholder or to any other Person for any error of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent
    facts;

   
   

   
  (iii)        the Trustee shall not be
    liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding relating to the
    time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture with respect to the Securities of that series;

   
   

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

   
   

   
  (v)          The Trustee shall not be
    required to give any bond or surety in respect of the performance of its powers or duties hereunder;

   
   

   
  (vi)         The permissive right of
    the Trustee to do things enumerated in this Indenture shall not be construed as a duty of the Trustee; and

   
   

   
  (vii)        No Trustee shall have any
    duty or responsibility for any act or omission of any other Trustee appointed with respect to a series of Securities hereunder.

   
   

   
  Section 7.02        Certain Rights of
      Trustee.

   
   

   
  Except as otherwise provided in Section 7.01:

   
   

   
  (a)          The Trustee may
    conclusively rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security or other paper or document believed by it
    to be genuine and to have been signed or presented by the proper party or parties;

   
   

   
  (b)          Any request, direction,
    order or demand of the Company mentioned herein shall be sufficiently evidenced by a Board Resolution or an instrument signed in the name of the Company by any authorized Officer of the Company (unless other evidence in respect thereof is specifically
    prescribed herein);

   
   

   
  (c)          The Trustee may consult
    with counsel and the opinion or written advice of such counsel or, if requested, any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in
    reliance thereon;

   
   

   
  
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  (d)          The Trustee shall be
    under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to
    the Trustee security or indemnity reasonably acceptable to the Trustee against the costs, expenses and liabilities that may be incurred therein or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the
    occurrence of an Event of Default with respect to a series of the Securities (that has not been cured or waived), to exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and to use the same
    degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his or her own affairs;

   
   

   
  (e)          The Trustee shall not be
    liable for any action taken or omitted to be taken by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture;

   
   

   
  (f)           The Trustee shall not be
    bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents or inquire as to the
    performance by the Company of one of its covenants under this Indenture, unless requested in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities of the particular series affected thereby
    (determined as provided in Section 8.04); provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the
    Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require security or indemnity reasonably acceptable to the Trustee against such costs, expenses or liabilities as a condition
    to so proceeding. The reasonable expense of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand;

   
   

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

   
   

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

   
   

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

   
   

   
  
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  (j)           The Trustee agrees to
    accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods; provided, however, that such 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. The Trustee may request that the Company deliver an
    Officer’s Certificate setting forth the names of individuals and/or titles of officers authorized at such time to furnish the Trustee with Officer’s Certificates, Company Orders and any other matters or directions pursuant to this Indenture;

   
   

   
  (k)          The rights, privileges,
    protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder and under the Securities, and each
    agent, custodian or other person employed to act under this Indenture; and

   
   

   
  (l)           The Trustee shall not be
    deemed to have knowledge of any Default or Event of Default (other than an Event of Default constituting the failure to pay the interest on, or the principal of, the Securities if the Trustee also serves as the paying agent for such Securities) until
    the Trustee shall have received written notification in the manner set forth in this Indenture or a Responsible Officer of the Trustee shall have obtained actual knowledge.

   
   

   
  Section 7.03        Trustee Not
      Responsible for Recitals or Issuance or Securities.

   
   

   
  (a)          The recitals contained
    herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee shall not be responsible for any statement in any registration statement, prospectus,
    or any other document in connection with the sale of Securities. The Trustee shall not be responsible for any rating on the Securities or any action or omission of any rating agency.

   
   

   
  (b)          The Trustee makes no
    representations as to the validity or sufficiency of this Indenture or of the Securities.

   
   

   
  (c)          The Trustee shall not be
    accountable for the use or application by the Company of any of the Securities or of the proceeds of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established
    pursuant to Section 2.01, or for the use or application of any moneys received by any paying agent other than the Trustee.

   
   

   
  
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  Section 7.04        May Hold Securities.

   
   

   
  The Trustee or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or
    pledgee of Securities with the same rights it would have if it were not Trustee, paying agent or Security Registrar.

   
   

   
  Section 7.05        Moneys Held in
      Trust.

   
   

   
  Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein
    provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder
    except such as it may agree with the Company to pay thereon.

   
   

   
  Section 7.06        Compensation and
      Reimbursement.

   
   

   
  (a)          The Company shall pay to
    the Trustee for each of its capacities hereunder from time to time compensation for its services as the Company and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of
    a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel.

   
   

   
  (b)          The Company shall
    indemnify each of the Trustee in each of its capacities hereunder against any loss, liability or expense (including the cost of defending itself and including the reasonable compensation and expenses of the Trustee’s agents and counsel) incurred by it
    except as set forth in Section 7.06(c) in the exercise or performance of its powers, rights or duties under this Indenture as Trustee or Agent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. The Company
    shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its
    consent, which consent shall not be unreasonably withheld. This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee.

   
   

   
  (c)          The Company need not
    reimburse any expense or indemnify against any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through negligence or bad faith.

   
   

   
  (d)          To ensure the Company’s
    payment obligations in this Section, the Trustee shall have a lien prior to the Securities on all funds or property held or collected by the Trustee, except that held in trust to pay principal of or interest on particular Securities. When the Trustee
    incurs expenses or renders services in connection with an Event of Default specified in Section 6.01(4) or (5), the expenses (including the reasonable fees and expenses of its counsel) and the compensation for services in connection therewith are to
    constitute expenses of administration under any bankruptcy law. The provisions of this Section 7.06 shall survive the termination of this Indenture and the resignation or removal of the Trustee.

   
   

   
  
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  Section 7.07        Reliance on
      Officer’s Certificate.

   
   

   
  Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee
    shall deem it reasonably necessary or desirable that a matter be proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may,
    in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officer’s Certificate delivered to the Trustee and such certificate, in the absence of negligence or bad faith on the part
    of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof.

   
   

   
  Section 7.08        Disqualification;
      Conflicting Interests.

   
   

   
  If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the Trust Indenture
    Act, the Trustee and the Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act.

   
   

   
  Section 7.09        Corporate Trustee
      Required; Eligibility.

   
   

   
  There shall at all times be a Trustee with respect to the Securities issued hereunder which shall at all times be a
    corporation organized and doing business under the laws of the United States of America or any state or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the Commission, authorized under
    such laws to exercise corporate trust powers, having a combined capital and surplus of at least fifty million U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state, territorial, or District of Columbia authority.

   
   

   
  If such corporation or other Person publishes reports of condition at least annually, pursuant to law or to the requirements
    of the aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation or other Person shall be deemed to be its combined capital and surplus as set forth in its most recent
    report of condition so published. The Company may not, nor may any Person directly or indirectly controlling, controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible in
    accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 7.10.

   
   

   
  Section 7.10        Resignation and
      Removal; Appointment of Successor.

   
   

   
  (a)          The Trustee or any
    successor hereafter appointed may at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company and the Securityholders of such series. Upon receiving such notice of resignation, the Company
    shall promptly appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy
    to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the sending of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the
    appointment of a successor trustee with respect to Securities of such series, or any Securityholder of that series who has been a bona fide holder of a Security or Securities for at least six months may on behalf of himself and all others similarly
    situated, petition any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.

   
   

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

   
   

   
  (i)              the Trustee shall
    fail to comply with the provisions of Section 7.08 after written request therefor by the Company or by any Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or

   
   

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

   
   

   
  (iii)            the Trustee shall
    become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or
    control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation;

   
   

   
  then, in any such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by
    written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Securityholder who has been a bona fide holder of a
    Security or Securities for at least six months may, on behalf of that holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may
    thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.

   
   

   
  (c)          The holders of a majority
    in aggregate principal amount of the Securities of any series at the time Outstanding may at any time remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee for such series with
    the consent of the Company.

   
   

   
  (d)          Any resignation or
    removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in
    Section 7.11.

   
   

   
  (e)          Any successor trustee
    appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.

   
   

   
  
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  Section 7.11        Acceptance of
      Appointment By Successor.

   
   

   
  (a)          In case of the
    appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and
    thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee;
    but, on the request of the Company or the successor trustee, such retiring Trustee shall, upon payment of any amounts due to it pursuant to the provisions of Section 7.06, execute and deliver an instrument transferring to such successor trustee all the
    rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor trustee all property and money held by such retiring Trustee hereunder.

   
   

   
  (b)          In case of the
    appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver
    an indenture supplemental hereto wherein each successor trustee shall accept such appointment and which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the
    rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates, (ii) shall contain such provisions as shall be deemed necessary or desirable to
    confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii) shall
    add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture
    shall constitute such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall
    be responsible for any act or failure to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided
    therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor trustee relates have no further responsibility for the exercise of rights and powers or for the performance of the
    duties and obligations vested in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to
    the Securities of that or those series to which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor trustee, to the
    extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor trustee relates.

   
   

   
  (c)          Upon request of any such
    successor trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case
    may be.

   
   

   
  
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  (d)          No successor trustee
    shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified and eligible under this Article.

   
   

   
  (e)          Upon acceptance of
    appointment by a successor trustee as provided in this Section, the Company shall send notice of the succession of such trustee hereunder to the Securityholders. If the Company fails to send such notice within ten days after acceptance of appointment
    by the successor trustee, the successor trustee shall cause such notice to be sent at the expense of the Company.

   
   

   
  Section 7.12        Merger, Conversion,
      Consolidation or Succession to Business.

   
   

   
  Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation
    resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, including the administration of the trust created by
    this Indenture, shall be the successor of the Trustee hereunder, provided that such corporation shall be qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09, without the execution or filing of any paper or
    any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or
    consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities.

   
   

   
  Section 7.13        Preferential
      Collection of Claims Against the Company.

   
   

   
  The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in
    Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein.

   
   

   
  Section 7.14        Notice of Default.

   
   

   
  If any Event of Default occurs and is continuing and if such Event of Default is known to a Responsible Officer of the
    Trustee, the Trustee shall send to each Securityholder in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act notice of the Event of Default within the earlier of 90 days after it occurs and 30 days after it is known to a
    Responsible Officer of the Trustee or written notice of it is received by the Trustee, unless such Event of Default has been cured; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any)
    or interest on any Security, the Trustee shall be protected in withholding such notice if and so long as the Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interest of the Securityholders.

   
   

   
  
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  article 8

     

     CONCERNING THE SECURITYHOLDERS

   
   

   
  Section 8.01        Evidence of Action
      by Securityholders.

   
   

   
  Whenever in this Indenture it is provided that the holders of a majority or specified percentage in aggregate principal
    amount of the Securities of a particular series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action the
    holders of such majority or specified percentage of that series have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in person or by agent or proxy
    appointed in writing.

   
   

   
  If the Company shall solicit from the Securityholders of any series any request, demand, authorization, direction, notice,
    consent, waiver or other action, the Company may, at its option, as evidenced by an Officer’s Certificate, fix in advance a record date for such series for the determination of Securityholders entitled to give such request, demand, authorization,
    direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may be given before or after
    the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of Outstanding Securities of
    that series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed as of the record date;
    provided, however, that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the
    record date.

   
   

   
  Section 8.02        Proof of Execution
      by Securityholders.

   
   

   
  Subject to the provisions of Section 7.01, proof of the execution of any instrument by a Securityholder (such proof will not
    require notarization) or his or her agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner:

   
   

   
  (a)          The fact and date of the
    execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee.

   
   

   
  (b)          The ownership of
    Securities shall be proved by the Security Register of such Securities or by a certificate of the Security Registrar thereof.

   
   

   
  The Trustee may require such additional proof of any matter referred to in this Section as it shall deem necessary.

   
   

   
  
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  Section 8.03        Who May be Deemed
      Owners.

   
   

   
  Prior to the due presentment for registration of transfer of any Security, the Company, the Trustee, any paying agent and
    any Security Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Security Registrar as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any
    notice of ownership or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and for all
    other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any notice to the contrary.

   
   

   
  Section 8.04        Certain Securities
      Owned by Company Disregarded.

   
   

   
  In determining whether the holders of the requisite aggregate principal amount of Securities of a particular series have
    concurred in any direction, consent or waiver under this Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly or indirectly controlling or controlled by
    or under common control with the Company or any other obligor on the Securities of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining whether the
    Trustee shall be protected in relying on any such direction, consent or waiver, only Securities of such series that the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged in good faith may be
    regarded as Outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly
    controlling or controlled by or under direct or indirect common control with the Company or any such other obligor. In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the
    Trustee.

   
   

   
  Section 8.05        Actions Binding on
      Future Securityholders.

   
   

   
  At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action
    by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of that series that is shown by the evidence to be
    included in the Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Security. Except as
    aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon such holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration of transfer thereof
    or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series
    specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities of that series.

   
   

   
  
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  article 9

     

     SUPPLEMENTAL INDENTURES

   
   

   
  Section 9.01        Supplemental
      Indentures Without the Consent of Securityholders.

   
   

   
  In addition to any supplemental indenture otherwise authorized by this Indenture, the Company and the Trustee may from time
    to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders, for one or more of the following
    purposes:

   
   

   
  (a)          to cure any ambiguity,
    defect, or inconsistency herein or in the Securities of any series;

   
   

   
  (b)          to comply with Article
    Ten;

   
   

   
  (c)          to provide for
    uncertificated Securities in addition to or in place of certificated Securities;

   
   

   
  (d)          to add to the covenants,
    restrictions, conditions or provisions relating to the Company for the benefit of the holders of all or any series of Securities (and if such covenants, restrictions, conditions or provisions are to be for the benefit of less than all series of
    Securities, stating that such covenants, restrictions, conditions or provisions are expressly being included solely for the benefit of such series), to make the occurrence, or the occurrence and the continuance, of a default in any such additional
    covenants, restrictions, conditions or provisions an Event of Default, or to surrender any right or power herein conferred upon the Company;

   
   

   
  (e)          to add to, delete from,
    or revise the conditions, limitations, and restrictions on the authorized amount, terms, or purposes of issue, authentication, and delivery of Securities, as herein set forth;

   
   

   
  (f)           to make any change that
    does not adversely affect the rights of any Securityholder in any material respect;

   
   

   
  (g)          to provide for the
    issuance of and establish the form and terms and conditions of the Securities of any series as provided in Section 2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series of
    Securities, or to add to the rights of the holders of any series of Securities;

   
   

   
  (h)          to evidence and provide
    for the acceptance of appointment hereunder by a successor trustee; or

   
   

   
  (i)           to comply with any
    requirements of the Commission or any successor in connection with the qualification of this Indenture under the Trust Indenture Act.

   
   

   
  The Trustee is hereby authorized to join with the Company in the execution of any such supplemental indenture, and to make
    any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or
    otherwise.

   
   

   
  
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  Any supplemental indenture authorized by the provisions of this Section may be executed by the Company and the Trustee
    without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.02.

   
   

   
  Section 9.02        Supplemental
      Indentures With Consent of Securityholders.

   
   

   
  With the consent (evidenced as provided in Section 8.01) of the holders of not less than a majority in aggregate principal
    amount of the Securities of each series affected by such supplemental indenture or indentures at the time Outstanding, the Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an indenture or
    indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect) 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 not covered by Section 9.01 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the
    holders of each Security then Outstanding and affected thereby, (a) extend the fixed maturity of any Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any
    premium payable upon the redemption thereof or (b) reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such supplemental indenture.

   
   

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

   
   

   
  Section 9.03        Effect of
      Supplemental Indentures.

   
   

   
  Upon the execution of any supplemental indenture pursuant to the provisions of this Article or of Section 10.01, this
    Indenture shall, with respect to such series, be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and
    the holders of Securities of the series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental indenture
    shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.

   
   

   
  Section 9.04        Securities Affected
      by Supplemental Indentures.

   
   

   
  Securities of any series affected by a supplemental indenture, authenticated and delivered after the execution of such
    supplemental indenture pursuant to the provisions of this Article or of Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements of any securities exchange upon which such series may be listed, as to
    any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture contained in any such
    supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in exchange for the Securities of that series then Outstanding.

   
   

   
  
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  Section 9.05        Execution of
      Supplemental Indentures.

   
   

   
  Upon the request of the Company, accompanied by its Board Resolutions authorizing the execution of any such supplemental
    indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental
    indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such supplemental indenture. The Trustee, subject to the
    provisions of Section 7.01, shall receive an Officer’s Certificate or an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by the terms of this Article and that all
    conditions precedent to the execution of the supplemental indenture have been complied with; provided, however, that such Officer’s Certificate or Opinion of Counsel need not be provided in connection with the execution of a supplemental indenture that
    establishes the terms of a series of Securities pursuant to Section 2.01 hereof.

   
   

   
  Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this
    Section, the Company shall (or shall direct the Trustee to) send a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all series affected thereby .as their names and addresses appear upon the
    Security Register. Any failure of the Company to send, or cause the sending of, such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.

   
   

   
  article 10

     

     SUCCESSOR ENTITY

   
   

   
  Section 10.01    Company May
      Consolidate, Etc.

   
   

   
  Nothing contained in this Indenture shall prevent any consolidation or merger of the Company with or into any other Person
    (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property
    of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other Person (whether or not affiliated with the Company or its successor or successors); provided, however, the Company hereby covenants and agrees
    that, upon any such consolidation or merger (in each case, if the Company is not the survivor of such transaction) or any such sale, conveyance, transfer or other disposition (other than a sale, conveyance, transfer or other disposition to a Subsidiary
    of the Company), the due and punctual payment of the principal of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according to their tenor, and the due and punctual performance and
    observance of all the covenants and conditions of this Indenture with respect to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the Company shall be expressly assumed, by supplemental
    indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) reasonably satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or into which the Company
    shall have been merged, or by the entity which shall have acquired such property.

   
   

   
  
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  Section 10.02    Successor Entity
      Substituted.

   
   

   
  (a)         In case of any such
    consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor entity by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the obligations set
    forth under Section 10.01 on all of the Securities of all series Outstanding, such successor entity shall succeed to and be substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor
    corporation shall be relieved of all obligations and covenants under this Indenture and the Securities.

   
   

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

   
   

   
  (c)         Nothing contained in this
    Article shall require any action by the Company in the case of a consolidation or merger of any Person into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or otherwise, of all or any
    part of the property of any other Person (whether or not affiliated with the Company).

   
   

   
  article 11

     

     SATISFACTION AND DISCHARGE

   
   

   
  Section 11.01    Satisfaction and
      Discharge of Indenture.

   
   

   
  If at any time: (a) the Company shall have delivered to the Trustee for cancellation all Securities of a series theretofore
    authenticated and not delivered to the Trustee for cancellation (other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07 and Securities for whose payment money or
    Governmental Obligations have theretofore been deposited in trust or segregated and held in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such Securities of a
    particular series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements
    satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient in
    the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore delivered to the
    Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums
    payable hereunder with respect to such series by the Company then this Indenture shall thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03, 7.10, 11.05 and 13.04,
    that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company
    shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series.

   
   

   
  
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  Section 11.02    Discharge of
      Obligations.

   
   

   
  If at any time all such Securities of a particular series not heretofore delivered to the Trustee for cancellation or that
    have not become due and payable as described in Section 11.01 shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations sufficient to pay at maturity or upon redemption
    all such Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if
    the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations
    of the Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4,03, 7.06, 7.10, 11.05 and 13.04 hereof that shall survive until such Securities
    shall mature and be paid.

   
   

   
  Thereafter, Sections 7.06 and 11.05 shall survive.

   
   

   
  Section 11.03    Deposited Moneys to be
      Held in Trust.

   
   

   
  All moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust
    and shall be available for payment as due, either directly or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of Securities for the payment or redemption of which such moneys or
    Governmental Obligations have been deposited with the Trustee.

   
   

   
  Section 11.04    Payment of Moneys Held
      by Paying Agents.

   
   

   
  In connection with the satisfaction and discharge of this Indenture all moneys or Governmental Obligations then held by any
    paying agent under the provisions of this Indenture shall, upon demand of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys or Governmental Obligations.

   
   

   
  
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  Section 11.05    Repayment to Company.

   
   

   
  Any moneys or Governmental Obligations deposited with any paying agent or the Trustee, or then held by the Company, in trust
    for payment of principal of or premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least two years after the date upon which the principal of (and
    premium, if any) or interest on such Securities shall have respectively become due and payable, or such other shorter period set forth in applicable escheat or abandoned or unclaimed property law, shall be repaid to the Company on May 31 of each year
    or upon the Company’s request or (if then held by the Company) shall be discharged from such trust; and thereupon the paying agent and the Trustee shall be released from all further liability with respect to such moneys or Governmental Obligations, and
    the holder of any of the Securities entitled to receive such payment shall thereafter, as a general creditor, look only to the Company for the payment thereof.

   
   

   
  article 12

     

     IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

   
   

   
  Section 12.01    No Recourse.

   
   

   
  No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim
    based thereon or otherwise in respect thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either directly or through the
    Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the
    obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or of any
    predecessor or successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied
    therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or
    director as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived
    and released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of such Securities.

   
   

   
  
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  article 13

     

     MISCELLANEOUS PROVISIONS

   
   

   
  Section 13.01    Effect on Successors
      and Assigns.

   
   

   
  All the covenants, stipulations, promises and agreements in this Indenture made by or on behalf of the Company shall bind
    its successors and assigns, whether so expressed or not.

   
   

   
  Section 13.02    Actions by Successor.

   
   

   
  Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board,
    committee or officer of the Company shall and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Company.

   
   

   
  Section 13.03    Surrender of Company
      Powers.

   
   

   
  The Company by instrument in writing executed by authority of its Board of Directors and delivered to the Trustee may
    surrender any of the powers reserved to the Company, and thereupon such power so surrendered shall terminate both as to the Company and as to any successor corporation.

   
   

   
  Section 13.04    Notices.

   
   

   
  Except as otherwise expressly provided herein, any notice, request or demand that by any provision of this Indenture is
    required or permitted to be given, made or served by the Trustee, the Security Registrar, any paying or other agent under this Indenture or by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given
    or served by being deposited in first class mail, postage prepaid, addressed (until another address is filed in writing by the Company with the Trustee), as follows:                                                                                                                .
    Any notice, election, request or demand by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing
    at the Corporate Trust Office of the Trustee.

   
   

   
  Section 13.05    Governing Law; Jury
      Trial Waiver.

   
   

   
  This Indenture and each Security shall be governed by, and construed in accordance with, the internal laws of the State of
    New York, except to the extent that the Trust Indenture Act is applicable.

   
   

   
  EACH PARTY HERETO, AND EACH HOLDER OF A SECURITY BY ACCEPTANCE THEREOF, HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
    APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS INDENTURE.

   
   

   
  
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  Section 13.06    Treatment of
      Securities as Debt.

   
   

   
  It is intended that the Securities will be treated as indebtedness and not as equity for federal income tax purposes. The
    provisions of this Indenture shall be interpreted to further this intention.

   
   

   
  Section 13.07    Certificates and
      Opinions as to Conditions Precedent.

   
   

   
  (a)        Upon any application or
    demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent provided for in this Indenture (other than
    the certificate to be delivered pursuant to Section 13.12) relating to the proposed action have been complied with and, if requested, an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have been complied
    with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate or
    opinion need be furnished.

   
   

   
  (b)        Each certificate or opinion
    provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant in this Indenture (other than the certificate to be delivered pursuant to Section 13.12 of this Indenture or Section 314(a)(1) of the
    Trust Indenture Act) shall include (i) a statement that the Person making such certificate or opinion has read such covenant or condition; (ii) 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; (iii) a statement that, in the opinion of such Person, he has made such examination or investigation as is reasonably necessary to enable him to express an informed opinion as to whether
    or not such covenant or condition has been complied with; and (iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with.

   
   

   
  Section 13.08    Payments on Business
      Days.

   
   

   
  Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officer’s Certificate, or
    established in one or more indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or
    principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

   
   

   
  
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  Section 13.09    Conflict with Trust
      Indenture Act.

   
   

   
  If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Section
    318(c) of the Trust Indenture Act, such imposed duties shall control.

   
   

   
  Section 13.10    Counterparts.

   
   

   
  This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts
    shall together constitute but one and the same instrument. 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 13.11    Separability.

   
   

   
  In case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any
    reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be
    construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein.

   
   

   
  Section 13.12    Compliance
      Certificates.

   
   

   
  The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year during which any Securities of
    any series were outstanding, an officer’s certificate stating whether or not the signers know of any Event of Default that occurred during such fiscal year. Such certificate shall contain a certification from the principal executive officer, principal
    financial officer or principal accounting officer of the Company that a review has been conducted of the activities of the Company and the Company’s performance under this Indenture and that the Company has complied with all conditions and covenants
    under this Indenture. For purposes of this Section 13.12, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. If the officer of the Company signing such certificate has
    knowledge of such an Event of Default, the certificate shall describe any such Event of Default and its status.

   
   

   
  Section 13.13    U.S.A Patriot Act.

   
   

   
  The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. 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 with
    the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act.

   
   

   
  
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  Section 13.14    Force Majeure.

   
   

   
  In no event shall the Trustee, the Security Registrar, any paying agent or any other agent under this Indenture 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 or utilities, communications or computer (software and hardware) services; it being understood that the Trustee, the
    Security Registrar, any paying agent or any other agent under this Indenture shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

   
   

   
  Section 13.15    Table of Contents;
      Headings.

   
   

   
  The table of contents and headings of the articles and sections of this Indenture have been inserted for convenience of
    reference only, are not intended to be considered a part hereof, and will not modify or restrict any of the terms or provisions hereof.

   
   

   
  
    48

    
      
 

  

   

   
  In Witness Whereof, the parties
      hereto have caused this Indenture to be duly executed all as of the day and year first above written.

   
   

    
  	 	Kronos Bio, Inc.
	 	 	 
	 	By:	    

   
   

   
  	 	Name:	   

   
   

   
  	 	Title:	   

   
   

    
  	 	[Trustee], as Trustee
	 	 	 
	 	By:	     

   
   

    
  	 	Name:	   

   
   

    
  	 	Title:	   

   
   

   
  
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  CROSS-REFERENCE TABLE (1)

   
   

   
  	
          Section of Trust Indenture Act of 1939, as Amended 

        	
          Section of Indenture 

        
	310(a)	7.09
	310(b)	7.08
	 	7.10
	310(c)	Inapplicable
	311(a)	7.13
	311(b)	7.13
	311(c)	Inapplicable
	312(a)	5.01
	 	5.02(a)
	312(b)	5.02(c)
	312(c)	5.02(c)
	313(a)	5.04(a)
	313(b)	5.04(b)
	313(c)	5.04(a)
	 	5.04(b)
	313(d)	5.04(c)
	314(a)	5.03
	 	13.12
	314(b)	Inapplicable
	314(c)	13.07(a)
	314(d)	Inapplicable
	314(e)	13.07(b)
	314(f)	Inapplicable
	315(a)	7.01(a)
	 	7.01(b)
	315(b)	7.14
	315(c)	7.01
	315(d)	7.01(b)
	315(e)	6.07
	316(a)	6.06
	 	8.04
	316(b)	6.04
	316(c)	8.01
	317(a)	6.02
	317(b)	4.03
	318(a)	13.09

   
   

    
  
     

  

   
   

   
  	

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

   
   

   
  50

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