Document:

Executive Retention Agreement between Argonaut Group, Inc. and Charles W. Weaver

 Exhibit 10.4 
  
 EXECUTIVE RETENTION AGREEMENT 
  

This Executive Retention Agreement (this “Agreement”), effective as of the 3rd day of January, 2005, is between Argonaut Group, Inc. a
Delaware corporation (the “Company”) and Charles W. Weaver (the “Employee”). 
  
 RECITALS: 
  
 The Company desires to continue the “at will” employment of the Employee and to obtain from the Employee certain supplemental agreements regarding confidential information, competition and Company
relationships. 
  
 As an incentive for the foregoing, the Company
desires to grant certain severance benefits to Employee as hereinafter set forth. 
  
 The Employee desires to continue such employment relationship with the Company and to make such agreements. 
  
 NOW, THEREFORE, in consideration of the promises and mutual agreements herein set forth, the parties hereby agree as follows: 
  

	1.	Nature of Employment. The Company and the Employee agree that the Employee is employed “at will,” and nothing in this Agreement is intended to create an obligation by the
Employer to continue its employment relationship with the Employee. 

  

	2.	Agreement Term. The “Agreement Term” shall be the period beginning on the date hereof and ending on the first to occur of (a) July 1, 2006, (b) the date of the
Employee’s death, (c) the date the Employee ceases to be an employee of the Company (whatever the reason for such termination of employment), (d) the date this Agreement is terminated by the Company as a result of a material breach of this
Agreement by the Employee provided such breach has remained uncured for forty-five (45) days following written notice to the Employee of such breach by or on behalf of the Company. 

  

	3.	Severance Benefits. If a Change of Control occurs during the Agreement Term, and if subsequently (x) the Employee’s employment by the Company is terminated by the
Company without Cause within 18 months following such a Change of Control, or (y) the Employee’s employment by the Company is terminated by the Employee for Good Reason, then: 

  

	 	a.	The Employee shall immediately receive from the Company a lump sum payment equal to the base cash compensation of the Employee for a period of 12 months, computed at the rate of
monthly compensation paid to the Employee at the time of the occurrence of the Change of Control. 

  

	 	b.	 For such period of time not exceeding 12 months that the Employee or any of the Employee’s dependents is eligible for and elects COBRA continuation coverage
(as described in section 4980B of the Internal Revenue Code of 1986, as amended (the “Code”)) under any Company group health plan, the Company shall pay 

	 	 
100% of the premiums necessary to maintain such COBRA continuation and Medicare wrap-around coverage. 

  

	 	c.	The Employee shall also be entitled to any other payments and benefits for which the Employee qualifies under the terms of any employee benefit plans or arrangements, other than any
severance benefit, adopted by the Company from time to time and as in effect at the time of Employee’s employment termination, provided, that with respect to any stock option or restricted stock plan among such plans and arrangements
with vesting provisions subject only to the passage of time, Employee will be deemed vested thereunder at the time a payment is made under Section 3(a) to the same extent as Employee would have been vested if Employee’s employment had
continued through the end of the applicable then current vesting period. 

  

	4.	Change of Control. For purposes of this Agreement: 

  

	 	a.	A “Change of Control” shall of be deemed to occur at such time as any “person” or “group” (as such terms are used in Section 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations promulgated thereunder), other than any “person” or “group” of which the Employee is an affiliate, is or becomes the
“beneficial owner” (as defined in Rule 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than thirty percent of the total outstanding voting stock of the Company; provided, however, a public offering of any of such
Company stock shall not be deemed a “change of control” for purposes hereof. A Change of Control will be deemed to occur only once. Upon the occurrence of a Change of Control, all references herein to the “Company” shall be
deemed to include the entity resulting from or surviving such Change of Control. 

  

	 	b.	The term “affiliate” means, with respect to any individual or a corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited
liability company, joint stock company, government (or an agency or political subdivision thereof) or other entity of any kind (each a “person”), any other person that directly or indirectly controls or is controlled by or under common
control with such person. For the purposes of this definition, “control” when used with respect to any person, means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of such
person, whether through the ownership of voting securities, by contract or otherwise; and the terms of “affiliated”, “controlling” and “controlled” have meanings correlated to the foregoing. 

  

	5.	Termination for Cause. For purposes of Section 3, only a termination of the Employee’s employment by the Company arising from any of the following shall be deemed to be
a termination for Cause (and any other termination shall be deemed to be without Cause): 

  

	 	a.	 Provided that the Employee has not then been assigned any duties that are inconsistent with, or materially more burdensome than, Employee’s duties at the

  

 2 

	 	 
time of the Change of Control, the willful and continued failure by the Employee to substantially perform such duties, within a reasonable period of time
after a written demand for substantial performance is delivered to the Employee by the officer of the Company to whom the Employee then reports, which demand must specifically identify the manner in which such officer believes that the Employee has
not substantially performed Employee’s duties; 

  

	 	b.	The willful engaging by the Employee in conduct which is demonstrably and materially injurious to the Company, monetarily or otherwise; or 

  

	 	c.	The engaging by the Employee in egregious misconduct involving serious moral turpitude to the extent that, in the reasonable judgment of the of the officer of the Company to whom
the Employee then reports, the Employee’s credibility and reputation no longer conform to the standard of the Company’s executives; provided, however, that Cause shall exist under this subsection (c) only if the misconduct involves a
violation of applicable laws. 

  
 For these
purposes, no act, or failure to act, on the Employee’s part shall be deemed “willful” unless done, or omitted to be done, by the Employee not in good faith and without reasonable belief that the Employee’s action or omission was
in the best interest of the Company. 
  

	6.	Good Reason. For purposes of Section 3, if the Employee (a) provides written notice to the Company of the occurrence of Good Reason (as defined below) within a reasonable
time after the Employee has knowledge of the circumstances constituting Good Reason, which notice must specifically identify the circumstances which the Employee believes constitute Good Reason; (b) the Company fails to notify the Employee of the
Company’s intended method of correction within a reasonable period of time after the Company receives such notice, or the Company fails to correct the circumstances within a reasonable time after such notice; and (c) the Employee resigns within
a reasonable time after receiving the Company’s response, if such notice does not indicate an intention to correct such circumstances; or within a reasonable time after the Company fails to correct such circumstances, then the Employee’s
employment by the Company shall be deemed to have been terminated by the Employee for Good Reason. “Good Reason” shall mean, without the Employee’s express written consent (and except in consequence of a prior termination of the
Employee’s employment), the occurrence of any of the following circumstances: 

  

	 	i.	Any change in the duties or responsibilities of Employee that is materially and adversely inconsistent with Employee’s position(s), duties, responsibilities or status with the
Company at the time of the occurrence of the Change of Control (including any material diminution of such duties or responsibilities); 

  

	 	ii.	A reduction in Employee’s base salary from the level of such base salary at the time of the occurrence of the Change of Control unless such reduction is part of a Company
action affecting, in a similar way, all employees of a similar rank; 

  

 3 

	 	iii.	The relocation of the Employee’s base office to an office that is more than 30 highway miles from the location of the Employee’s base office at the time of the occurrence
of the Change of Control, or a requirement that the Employee engage in travel that is materially greater than is reasonably required by the Company’s business at that time; 

  

	 	iv.	The failure of the Company to continue in effect any material employee benefit plan, bonus and/or compensation plan, welfare benefit plan or fringe benefit plan in which Employee is
participating at the time of the occurrence of the Change of Control or the taking of any action by the Company which would adversely affect Employee’s participation in or reduce Employee’s benefits under any such plan, unless such failure
or action is part of a Company action affecting in a similar way all employees of a similar rank; 

  

	 	v.	The failure of the Company, without the Employee’s consent, to pay to the Employee any portion of the Employee’s current compensation, or to provide in all material
respects the indemnification set forth in the Company’s Articles of Incorporation, By-Laws, or any other written agreement between Employee and Company as at the time are in effect; 

  

	 	vi.	The failure of the Company to obtain a satisfactory agreement from any successor to assume and agree to perform this Agreement. 

  

	7.	Gross-Up Payment. 

  

	 	a.	Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment, award, benefit or distribution (or any acceleration of any payment,
award, benefit or distribution) by the Company to or for the benefit of Employee (the “Payments”) would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended from time to time (the
“Code”) (the “Excise Tax”), then the Company shall pay to the Employee an additional payment (a “Gross-Up Payment”) in an amount such that after payment by the Employee of all taxes (including any Excise Tax) imposed
upon the Gross-Up Payment, the Employee retains an amount of the Gross-Up Payment equal to the sum of (x) the Excise Tax imposed upon the Payments and (y) the products of any deductions disallowed because of the inclusion of the Gross-Up Payment in
the Employee’s adjusted gross income and the highest applicable marginal rate of federal income taxation for the calendar year in which the Gross-Up Payment is to be made. For purposes of determining the amount of the Gross-Up Payment, the
Employee shall be deemed to (A) pay federal income taxes at the highest marginal rates of federal income taxes at the highest marginal rate of taxation for the calendar year in which the Gross-Up Payment is to be made, and (B) have otherwise
allowable deductions for federal income tax purposes at least equal to those which could be disallowed because of the inclusion of the Gross-Up Payment in the Employee’s adjusted gross income. 

  

 4 

	 	b.	As a result of the uncertainty in the application of Section 4999 of the Code at the time of the determination, it is possible that Gross-Up Payments which will not have been made
by the Company should have been made (Underpayment) or Gross-Up Payments are made by the Company which should not have been made (Overpayment), consistent with the calculations required to be made hereunder. In the event that the Employee thereafter
is required to make payment of any Excise Tax or additional Excise Tax, any such Underpayment (together with interest at the rate provided in Section 1274(b)(2)(B) of the Code) shall be promptly paid by the Company to or for the benefit of the
Employee. In the event the amount of the Gross-Up Payment exceeds the amount necessary to reimburse the Employee for the Employee’s Excise Tax, any such Overpayment (together with interest at the rate provided in Section 1274(b)(2)(B) of the
Code) shall be promptly paid by the Employee (to the extent he has received a refund if the applicable Excise Tax has been paid to the Internal Revenue Service) to or for the benefit of the Company. The Employee shall cooperate, to the extent his
expenses are reimbursed by the Company, with any reasonable requests by the Company in connection with any contest or disputes with the Internal Revenue Service in connection with the Excise Tax. 

  

	8.	Non-Competition Obligations. 

  

	 	a.	In order to induce the Company to make the payments and provide the other benefits to the Employee as described in this Agreement, the Employee hereby undertakes and agrees as
follows: 

  

	 	i.	The Employee will not, directly or indirectly, for the Employee or for others engage in any business in the geographic area competitive with the Company’s or any of its
affiliates line of specialty property and/or casualty insurance business as of the date of the termination of the employment relationship; 

  

	 	ii.	The Employee will not render advice, or services to or otherwise assist, any other person who is engaged, directly or indirectly in any business in the geographic area (defined as
those areas by county in which the Company has customers) that is competitive with the Company’s or its affiliates line of specialty property or casualty insurance business as of the date of the termination of the employment relationship;

  

	 	iii.	 The Employee will not, directly or indirectly for the Employee’s or others, following termination of the Employee’s employment with the Company, encourage
or induce any current or former employee of the Company or any of its affiliates to leave the employment of the Company or any of its affiliates or offer employment, retain, hire or assist in the hiring of any such employee by any person,
association or entity not affiliated with the Company or any of its affiliates; provided, however, that nothing in this subsection (iii) shall prohibit the Employee from offering employment to any prior employee of the Company or any of its
affiliates who was not 

  

 5 

	 	 
employed by the Company or any of its affiliates at any time in the twelve months prior to the termination of the Employee’s employment.

  

	 	b.	The non-competition obligation set forth in this Section 8 shall apply during the Employee’s employment and, if the Employee receives the payment contemplated by
Section 3(a) hereof, for a period of one year after termination of employment. 

  

	9.	No Interference With Company Relationships. If the Employee receives the payment contemplated by Section 3(a), then for a period of one year following a termination of the
Employee’s employment with the Company, the Employee shall not, either on the Employee’s own behalf or as an agent, consult, partner, shareholder, employee, owner or representative of any person or entity: 

  

	 	a.	Directly or indirectly interfere with any of the Company’s or any of its affiliates’ relationships with any of their customers, prospects or clients or induce, or
encourage any customer or client to stop doing business with the Company or any of its affiliates or to induce or encourage any prospect to not retain the services of the Company or any of its affiliates; 

  

	 	b.	Solicit or attempt to solicit, directly or indirectly, any business of any of the Company’s or its affiliates’ customers/clients or prospects; 

  

	 	c.	Take any action, directly or indirectly, to obtain any customer or prospect of the Company or any of its affiliates or any business from any such customer/client or prospect;

  

	 	d.	Or otherwise interfere with any business from any of the Company’s or any of its affiliates’ customers/clients or prospects. 

  
 The term “prospect” means any person or entity for whom or for
which a premium quotation or proposal for services had been prepared by Company or any of its affiliates within twelve months of Employee’s termination of employment. 
  

	10.	Successors and Assigns. This Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or any
rights or obligations hereunder, provided, however, that the provisions hereof shall enure to the benefit of, and be binding upon, each successor of the Company, whether by merger, consolidation, acquisition or otherwise, unless otherwise agreed to
by the Employee and the Company. 

  

	11.	Notices. Any notice required or permitted to be given to the Employee pursuant to this Agreement shall be sufficiently given if sent to the Employee by registered or certified mail
addressed to the Employee at 10101 Reunion Place, Ste. 500, San Antonio, Texas 78216, or at such other address as he shall designate by notice to the Company, and any notice required or permitted to be given to the Company pursuant to this Agreement
shall be sufficiently given if sent to the Company by registered or certified mail addressed to it at 10101 Reunion Place, Ste. 500, San Antonio, Texas 78216, or at such other address as it shall designate by notice to the Employee.

  

 6 

	12.	Invalid Provisions. The invalidity or unenforceability of a particular provision of this Agreement shall not effect the enforceability of any other provisions hereof and this
Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. 

  

	13.	Amendments To The Agreement. This Agreement may only be amended in writing by an agreement executed by both parties hereto. 

  

	14.	Entire Agreement. This Agreement contains the entire agreement of the parties hereto and supercedes any and all prior agreements, oral or written, and negotiations between said
parties regarding the subject matter contained herein. 

  

	15.	Applicable Law, Venue and Specific Performance. This Agreement is entered into under, and shall be governed for all purposes, by the laws of the State of Texas; with venue of any
lawsuit between the parties in State District Court, Bexar County, Texas. The Employee acknowledges that the Company would be irreparably injured by a violation of Sections 8, or 9, and agrees that the Company, in addition to any other
remedies available to it for such breach or threatened breach, shall be entitled to a preliminary injunction, temporary restraining order, or other equivalent relief, restraining the Employee from any actual or threatened breach thereof. If a bond
is required to be posted in order for the Company to secure an injunction or other equitable remedy, the parties agree that said bond need not be more than a nominal sum. 

  

	16.	No Waiver. No failure by either party hereto at any time to give notice of any breach by the other party of, or to require compliance with, any condition or provision of this
Agreement shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

  

	17.	Severability. If a Court of competent jurisdiction determines that any provision of this Agreement is invalid or unenforceable, then the invalidity or unenforceability of that
provision shall not effect the validity or unenforceability of any other provision of this Agreement, and all other provisions shall remain in full force and effect. 

  

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

  

	19.	Withholding of Taxes and Other Employee Deductions. The Company may withhold from any benefits and payments made pursuant to this Agreement all federal, state, city and other taxes
as may be required pursuant to any law or governmental regulation or ruling and any and all other normal employee deductions made with respect to the Company’s employees generally. 

  

 7 

 In witness whereof, the parties hereto have executed this Agreement as of the day and year above written.

  

							
	 Argonaut Group, Inc.:
	 	 	  	 Charles W. Weaver:

				
	 By:
	 	 /s/ Mark E. Watson, III

	 	 	  	 /s/ Charles W. Weaver

	 	 	 Mark E. Watson, III
 President and CEO
	 	 	  	 

  

 8Indenture

 Exhibit 10.1 
  
 LANDRY’S RESTAURANTS, INC., 
  
 as Issuer, 
  
 The Subsidiary Guarantors, 
  
 as Guarantors, 
  
 and 
  
 Wachovia Bank, National Association 
  
 as
Trustee 
  
 Indenture 
  
 Dated as of December 28, 2004 
  
 7.50% Senior Notes due 2014 
  

  
 TABLE OF CONTENTS

  

					
	 	  	 	  	Page

	 Article One definitions and incorporation by reference
	  	1
			
	 Section 1.01.
	  	 Definitions
	  	1
	 Section 1.02.
	  	 Other Definitions
	  	14
	 Section 1.03.
	  	 Incorporation by Reference of Trust Indenture Act
	  	15
	 Section 1.04.
	  	 Rules of Construction
	  	15
		
	 Article Two THE NOTES
	  	16
			
	 Section 2.01.
	  	 Form and Dating
	  	16
	 Section 2.02.
	  	 Execution and Authentication
	  	16
	 Section 2.03.
	  	 [Reserved]
	  	17
	 Section 2.04.
	  	 Registrar and Paying Agent
	  	17
	 Section 2.05.
	  	 Paying Agent to Hold Money in Trust
	  	17
	 Section 2.06.
	  	 Lists of Holders of Notes
	  	17
	 Section 2.07.
	  	 Transfer and Exchange
	  	18
	 Section 2.08.
	  	 Replacement Notes
	  	27
	 Section 2.09.
	  	 Outstanding Notes; Treasury Notes
	  	27
	 Section 2.10.
	  	 Temporary Notes
	  	27
	 Section 2.11.
	  	 Cancellation
	  	28
	 Section 2.12.
	  	 Defaulted Interest
	  	28
	 Section 2.13.
	  	 CUSIP Number
	  	28
	 Section 2.14.
	  	 Persons Deemed Owners
	  	28
	 Section 2.15.
	  	 Issuance of Additional Notes
	  	28
		
	 Article Three redemption
	  	28
			
	 Section 3.01.
	  	 Notice to Trustee
	  	28
	 Section 3.02.
	  	 Selection of Notes to Be Redeemed
	  	29
	 Section 3.03.
	  	 Notice of Redemption
	  	29
	 Section 3.04.
	  	 Effect of Notice of Redemption
	  	29
	 Section 3.05.
	  	 Deposit of Redemption Price
	  	30
	 Section 3.06.
	  	 Notes Redeemed in Part
	  	30
		
	 Article Four covenants
	  	30
			
	 Section 4.01.
	  	 Payment of Notes
	  	30
	 Section 4.02.
	  	 Commission Reports
	  	30
	 Section 4.03.
	  	 Compliance Certificates
	  	31
	 Section 4.04.
	  	 Maintenance of Office or Agency
	  	32
	 Section 4.05.
	  	 Corporate Existence
	  	32
	 Section 4.06.
	  	 Waiver of Stay, Extension or Usury Laws
	  	32
	 Section 4.07.
	  	 Payment of Taxes and Other Claims
	  	32
	 Section 4.08.
	  	 Business Activities
	  	32
	 Section 4.09.
	  	 Limitation on Incurrence of Additional Indebtedness and Issuance of Preferred Stock
	  	33
	 Section 4.10.
	  	 Limitation on Restricted Payments
	  	35
	 Section 4.11.
	  	 Limitation on Sale of Assets
	  	38
	 Section 4.12.
	  	 Limitation on Liens Securing Indebtedness
	  	40
	 Section 4.13.
	  	 Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries
	  	40

  

					
	 Section 4.14.
	  	 Limitation on Transactions with Affiliates
	  	42
	 Section 4.15.
	  	 [intentionally omitted]
	  	43
	 Section 4.16.
	  	 Change of Control
	  	43
	 Section 4.17.
	  	 Designation of Restricted and Unrestricted Subsidiaries
	  	44
	 Section 4.18.
	  	 Payments for Consent
	  	45
	 Section 4.19.
	  	 Limitations on Issuances of Guarantees by Restricted Subsidiaries; Release of Subsidiary Guarantees
	  	45
	 Section 4.20.
	  	 Limitation on Sale and Leaseback Transactions
	  	46
	 Section 4.21.
	  	 Limitation on Issuance and Sale of Equity Interests of Restricted Subsidiaries
	  	46
	 Section 4.22.
	  	 Limitation on Subordinated Indebtedness
	  	46
		
	 Article Five successor corporation
	  	47
			
	 Section 5.01.
	  	 Merger, Consolidation or Sale of Assets
	  	47
	 Section 5.02.
	  	 Successor Corporation Substituted
	  	48
		
	 Article Six DEFAULTS AND REMEDIES
	  	48
			
	 Section 6.01.
	  	 Events of Default
	  	48
	 Section 6.02.
	  	 Acceleration
	  	49
	 Section 6.03.
	  	 Other Remedies
	  	50
	 Section 6.04.
	  	 Waiver of Past Defaults
	  	50
	 Section 6.05.
	  	 Control by Majority
	  	50
	 Section 6.06.
	  	 Limitation on Remedies
	  	51
	 Section 6.07.
	  	 Rights of Holders to Receive Payment
	  	51
	 Section 6.08.
	  	 Collection Suit by Trustee
	  	51
	 Section 6.09.
	  	 Trustee May File Proofs of Claim
	  	51
	 Section 6.10.
	  	 Priorities
	  	52
	 Section 6.11.
	  	 Undertaking for Costs
	  	52
		
	 Article Seven TRUSTEE
	  	52
			
	 Section 7.01.
	  	 Duties of Trustee
	  	52
	 Section 7.02.
	  	 Rights of Trustee
	  	52
	 Section 7.03.
	  	 Individual Rights of Trustee
	  	53
	 Section 7.04.
	  	 Trustee’s Disclaimer
	  	53
	 Section 7.05.
	  	 Notice of Defaults
	  	53
	 Section 7.06.
	  	 Reports by Trustee to Holders
	  	54
	 Section 7.07.
	  	 Compensation and Indemnity
	  	54
	 Section 7.08.
	  	 Replacement of Trustee
	  	55
	 Section 7.09.
	  	 Successor Trustee by Merger, Etc
	  	55
	 Section 7.10.
	  	 Eligibility; Disqualification
	  	55
	 Section 7.11.
	  	 Preferential Collection of Claims Against the Company
	  	56
		
	 Article Eight SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE
	  	56
			
	 Section 8.01.
	  	 Satisfaction and Discharge.
	  	56
	 Section 8.02.
	  	 Legal Defeasance and Covenant Defeasance
	  	57
	 Section 8.03.
	  	 Conditions to Legal Defeasance or Covenant Defeasance
	  	58
	 Section 8.04.
	  	 Application of Trust Money
	  	59
	 Section 8.05.
	  	 Repayment to Company
	  	59
	 Section 8.06.
	  	 Reinstatement
	  	59
		
	 Article Nine AMENDMENTS, SUPPLEMENTS AND WAIVERS
	  	60

  

 ii 

					
	 Section 9.01.
	  	 Without Consent of Holders
	  	60
	 Section 9.02.
	  	 With Consent of Holders
	  	60
	 Section 9.03.
	  	 Compliance with Trust Indenture Act
	  	62
	 Section 9.04.
	  	 Revocation and Effect of Consents
	  	62
	 Section 9.05.
	  	 Notation on or Exchange of Notes
	  	62
	 Section 9.06.
	  	 Trustee Protected
	  	62
		
	 Article Ten [intentionally omitted]
	  	63
		
	 Article Eleven GUARANTEES
	  	63
			
	 Section 11.01.
	  	 Unconditional Guarantee
	  	63
	 Section 11.02.
	  	 Limitation of Subsidiary Guarantor’s Liability
	  	63
	 Section 11.03.
	  	 Contribution
	  	64
	 Section 11.04.
	  	 Execution and Delivery of Subsidiary Guarantees
	  	64
	 Section 11.05.
	  	 Severability
	  	64
	 Section 11.06.
	  	 Execution of Guarantee
	  	64
		
	 Article Twelve [intentionally omitted]
	  	65
		
	 Article Thirteen MISCELLANEOUS
	  	65
			
	 Section 13.01.
	  	 Trust Indenture Act Controls
	  	65
	 Section 13.02.
	  	 Notices
	  	65
	 Section 13.03.
	  	 Communication by Holders with Other Holders
	  	66
	 Section 13.04.
	  	 Certificate and Opinion as to Conditions Precedent
	  	66
	 Section 13.05.
	  	 Statements Required in Certificate or Opinion
	  	66
	 Section 13.06.
	  	 Rules by Trustee and Agents
	  	66
	 Section 13.07.
	  	 Legal Holidays
	  	66
	 Section 13.08.
	  	 No Personal Liability of Directors, Officers, Employees and Stockholders
	  	66
	 Section 13.09.
	  	 Governing Law
	  	67
	 Section 13.10.
	  	 No Adverse Interpretation of Other Agreements
	  	67
	 Section 13.11.
	  	 Successors
	  	67
	 Section 13.12.
	  	 Duplicate Originals
	  	67
	 Section 13.13.
	  	 Severability
	  	67

  

					
	 Exhibit A
	 	–	  	Form of Note
	 Exhibit B
	 	–	  	Form of Certificate of Transfer
	 Exhibit C
	 	–	  	Form of Certificate of Exchange
	 Exhibit D
	 	–	  	Form of Certificate from Acquiring Institutional Accredited Investor
	 Exhibit E
	 	–	  	Form of Guarantee

  

 iii 

  
 CROSS-REFERENCE TABLE

  

			
	 Trust Indenture
Act Section

	  	Indenture
Section

	 310    (a)(1)
	  	7.10
	 (a)(2)
	  	7.10
	 (a)(3)
	  	N/A
	 (a)(4)
	  	N/A
	 (a)(5)
	  	N/A
	 (b)
	  	7.10
	 (c)
	  	N/A
	 311    (a)
	  	7.11
	 (b)
	  	7.11
	 (c)
	  	N/A
	 312    (a)
	  	N/A
	 (b)
	  	13.03
	 (c)
	  	13.03
	 313    (a)
	  	7.06
	 313    (b)
	  	7.06
	 (b)(1)
	  	N/A
	 (b)(2)
	  	N/A
	 (c)
	  	7.06
	 (d)
	  	7.06
	 314    (a)
	  	N/A
	 (b)
	  	N/A
	 (c)(1)
	  	N/A
	 (c)(2)
	  	N/A
	 (c)(3)
	  	N/A
	 (d)
	  	N/A
	 (e)
	  	N/A
	 (f)
	  	N/A
	 315    (a)
	  	N/A
	 (b)
	  	7.05
	 (c)
	  	N/A
	 (d)
	  	N/A
	 (e)
	  	N/A
	 316    (a)(1)(A)
	  	N/A
	 (a)(1)(B)
	  	N/A
	 (a)(2)
	  	N/A
	 (b)
	  	N/A
	 (c)
	  	N/A
	 317    (a)(1)
	  	N/A
	 (a)(2)
	  	N/A
	 (b)
	  	N/A
	 318    (a)
	  	N/A
	 (b)
	  	N/A
	 (c)
	  	13.01

 N/A means Not Applicable 
  
 NOTE: This Cross-Reference Table shall not, for any purpose, be deemed to be part of this
Indenture. 
  

 iv 

 INDENTURE, dated as of December 28, 2004, among LANDRY’S RESTAURANTS, INC., a Delaware
corporation (the “Company”), the SUBSIDIARY GUARANTORS listed as signatories hereto, and Wachovia Bank, National Association, as Trustee. 
  
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance, initially, of up to $400,000,000 aggregate
principal amount of the Company’s 7.50% Senior Notes due 2014 (the “Notes”) issuable as provided in this Indenture. All actions necessary to make this Indenture a valid and legally binding agreement of the Company and each
Subsidiary Guarantor, in accordance with its terms, have been taken. 
  
 Each party agrees as follows for the benefit of the other parties and for the benefit of the Holders: 
  
 DEFINITIONS AND INCORPORATION BY REFERENCE 
  
 Definitions. 
  
 “144A Global Note” means a global note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the
Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that shall be issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A.

  
 “Acquired Debt” means, with respect to any
specified Person: (1) Indebtedness of any other Person existing at the time such other Person is merged with or into, or becomes a Subsidiary of, such specified Person, whether or not such Indebtedness is incurred in connection with, or in
contemplation of, such other Person merging with or into, or becoming a Subsidiary of, such specified Person; and (2) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 
  
 “Affiliate” of any specified Person means (1) any other
Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person or (2) any executive officer or director of such specified Person. For purposes of this definition, “control,”
as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or
otherwise; provided that beneficial ownership of 10% or more of the Voting Stock of a Person shall be deemed to be control. For purposes of this definition, the terms “controlling,” “controlled by” and “under common
control with” shall have correlative meanings. 
  
 “Agent” means any Registrar, Paying Agent or co-registrar. 
  
 “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream that
apply to such transfer or exchange. 
  
 “Asset
Sale” means: (1) the sale, lease, conveyance or other disposition of any assets or rights; provided that the sale, conveyance or other disposition of all or substantially all of the assets of the Company and its Restricted
Subsidiaries taken as a whole shall be governed by Section 4.16 and/or Section 5.01 and not by Section 4.11 and (2) the issuance of Equity Interests by any of the Company’s Restricted Subsidiaries or the sale by the Company or any Restricted
Subsidiary of Equity Interests in any of its Subsidiaries. Notwithstanding the preceding, the following items shall be deemed not to be Asset Sales: (1) any single transaction or series of related transactions that involves assets having a fair
market value of less than $1.0 million; (2) a transfer of assets between or among the Company and its Restricted Subsidiaries; (3) an issuance of Equity Interests by a Restricted Subsidiary to the Company or to another Restricted Subsidiary; (4) the
sale or lease of equipment, inventory, accounts receivable or other assets in the ordinary course of business of the Company and its Restricted Subsidiaries; (5) any exchange of property or assets of the Company or any Restricted Subsidiary of the
Company for property or assets of a third party that are to be used in a Permitted Business; provided that the sum of the fair market value of the property or 

  

 
assets plus any cash consideration received by the Company or its Restricted Subsidiaries in such exchange is not less than the aggregate fair market value
of any property or assets surrendered; provided further that the fair market value of the property or assets exchanged or received by the Company or any such Restricted Subsidiary shall be determined by (a) the Chief Executive Officer of the
Company, where such value is less than $5.0 million and (b) the Board of Directors of the Company (on the basis of an opinion or appraisal of an independent accounting, appraisal or investment banking firm of national standing) and evidenced by a
Board Resolution of the Board of Directors of the Company, where such value is $5.0 million or more; (6) the sale or other disposition of Cash Equivalents; (7) a Restricted Payment that is permitted by Section 4.10; (8) any sale or disposition of
any property or equipment (including, without limitation, any restaurant property) that has become damaged, worn out, obsolete or otherwise unusable or unsuitable for use by the Company or its Restricted Subsidiaries in connection with the conduct
of their business, as determined by the Company’s Chief Executive Officer; (9) dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar
proceedings and exclusive of factoring or similar arrangements; and (10) any sale or disposition deemed to occur in connection with creating or granting or, for purposes of the first paragraph of Section 4.11 herein, the realization upon a Permitted
Lien. 
  
 “Attributable Debt” in respect of a
sale and leaseback transaction means, at the time of determination, the present value of the obligation of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction, including any
period for which such lease has been extended or may, at the option of the lessor, be extended. Such present value shall be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with
GAAP. 
  
 “Beneficial Owner” has the meaning
assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such
“person” shall be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only
upon the occurrence of a subsequent condition. The terms “Beneficially Owns” and “Beneficially Owned” shall have a corresponding meaning. 
  
 “Board of Directors” means: (1) with respect to a corporation, the board of directors of the corporation; (2) with respect to a limited
liability company, the managing member or members or any controlling committee of managing members thereof; (3) with respect to a partnership, the Board of Directors of the general partner of the partnership; and (4) with respect to any other
Person, the board or committee of such Person serving a similar function. 
  
 “Board Resolution” means, with respect to any Person, a copy of a resolution certified by the Secretary or an Assistant Secretary of such Person to have been duly adopted by the Board of Directors of
such Person and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
  
 “Business Day” means any day other than a Saturday, a Sunday or any other day on which banking institutions in the City of New York or
the City of Houston, Texas are required or authorized by law or governmental action to be closed. 
  
 “Capital Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect of a
capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP. 
  
 “Capital Stock” means: (1) in the case of a corporation, corporate stock; (2) in the case of an association or business entity, any and
all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (3) in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and (4) any
other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 
  
 “Cash Equivalents” means: (1) United States dollars; (2) securities issued or directly and fully guaranteed
or insured by the United States government or any agency or instrumentality thereof (provided that the full faith and credit of the United States is pledged in support thereof) having maturities of not more than 360 days from the date 

  

 2 

 
of acquisition; (3) certificates of deposit and time deposits with maturities of six months or less from the date of acquisition, bankers’ acceptances
with maturities not exceeding six months and overnight bank deposits, in each case, with any domestic commercial bank having capital and surplus in excess of $250.0 million and outstanding debt which is rated “A-3” or “A-” (or
such similar equivalent rating) or higher by at least one nationally recognized statistical rating organization (as defined in Rule 436 under the Securities Act); (4) repurchase obligations with a term of not more than thirty days for underlying
securities of the types described in clauses (2) and (3) above entered into with any financial institution meeting the qualifications specified in clause (3) above; (5) commercial paper having a rating of “P-1” or better from Moody’s
Investors Service, Inc. or “A-1” or better from Standard & Poor’s Rating Services and in each case maturing within six months after the date of acquisition; and (6) money market funds at least 95% of the assets of which constitute
Cash Equivalents of the kinds described in clauses (1) through (5) of this definition. 
  
 “Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a
series of related transactions, of all or substantially all of the properties or assets of the Company and its Restricted Subsidiaries, taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act); (2)
the adoption of a plan relating to the liquidation or dissolution of the Company; (3) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), other than the Permitted Holder, becomes the
ultimate Beneficial Owner, directly or indirectly, of 50% or more of the voting power of the Voting Stock of the Company; (4) the first day on which a majority of the members of the Board of Directors of the Company are not Continuing Directors; or
(5) the Company consolidates with, or merges with or into, any Person, or any Person consolidates with, or merges with or into the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or
such other Person is converted into or exchanged for cash, securities or other property, other than any such transaction where (A) the Voting Stock of the Company outstanding immediately prior to such transaction is converted into or exchanged for
Voting Stock (other than Disqualified Stock) of the surviving or transferee Person constituting a majority of the outstanding shares of such Voting Stock of such surviving or transferee Person (immediately after giving effect to such issuance) and
(B) immediately after such transaction, no “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), other than the Permitted Holder, becomes, directly or indirectly, the beneficial owner (as
defined above) of 50% or more of the voting power of all classes of Voting Stock of the Company. 
  
 “Clearstream” means Clearstream Banking, société anonyme, Luxembourg. 
  
 “Commission” means the Securities and Exchange Commission.

  
 “Company” means the party named as such
above, until a successor replaces such Person in accordance with the terms of this Indenture, and thereafter means such successor. 
  
 “Consolidated Cash Flow” means, with respect to any specified Person for any period, the sum, without duplication, of the Consolidated
Net Income of such Person for such period, plus: (1) provision for taxes based on income or profits of such Person and its Restricted Subsidiaries for such period, to the extent that such provision for taxes was deducted in computing such
Consolidated Net Income; plus (2) Fixed Charges to the extent deducted in computing such Consolidated Net Income; plus (3) depreciation, amortization (including amortization of goodwill and other intangibles but excluding amortization
of prepaid cash expenses that were paid in a prior period) and other non-cash expenses or charges (excluding any such non-cash expense or charge to the extent that it represents an accrual of or reserve for cash expenses in any future period or
amortization of a prepaid cash expense that was paid in a prior period) of such Person and its Restricted Subsidiaries for such period to the extent that such depreciation, amortization and other non-cash expenses or charges were deducted in
computing such Consolidated Net Income; minus (4) non-cash items increasing such Consolidated Net Income for such period, other than the accrual of revenue consistent with past practice, in each case, on a consolidated basis and determined in
accordance with GAAP. Notwithstanding the 

  

 3 

 
preceding, the provision for taxes based on the income or profits of, the Fixed Charges and the depreciation and amortization and other non-cash expenses or
charges of, a Restricted Subsidiary of the Company shall be added to Consolidated Net Income to compute Consolidated Cash Flow of the Company only to the extent that a corresponding amount of Consolidated Net Income of such Restricted Subsidiary
would be permitted, at the date of determination, to be dividended to the Company by such Restricted Subsidiary without prior governmental approval (that has not been obtained), and without direct or indirect restriction pursuant to the terms of its
charter and all agreements, instruments, judgments, decrees, orders, statutes, rules and governmental regulations applicable to that Subsidiary or its stockholders. 
  
 “Consolidated Net Income” means, with respect to any specified Person for any period, the aggregate of the
Net Income of such Person and its Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided that: (1) the Net Income of any Person that is not a Subsidiary or that is accounted for by the equity
method of accounting shall be included only to the extent of the amount of dividends or distributions paid in cash to the specified Person or a Wholly Owned Restricted Subsidiary thereof; (2) the Net Income of any Restricted Subsidiary shall be
excluded to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of that Net Income is not at the date of determination permitted without any prior governmental approval (that has not been
obtained) or, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its equityholders; (3) the Net
Income of any Person acquired during the specified period for any period prior to the date of such acquisition shall be excluded; (4) the cumulative effect of a change in accounting principles shall be excluded; and (5) the Net Income or loss of any
Unrestricted Subsidiary shall be excluded, unless (in the case of Net Income) such Net Income is distributed to the specified Person or one of its Subsidiaries. 
  

“Consolidated Net Tangible Assets” means, with respect to any specified Person, as of any date, all amounts that would be shown as
assets on a consolidated balance sheet of such Person and its Restricted Subsidiaries prepared in accordance with GAAP, less the amount thereof constituting goodwill and other intangible assets as calculated in accordance with GAAP. 
  
 “Continuing Directors” means, as of any date of
determination, any member of the Board of Directors of the Company who: (1) was a member of such Board of Directors on the date of this Indenture; or (2) was nominated for election or elected to such Board of Directors with the approval of a
majority of the Continuing Directors who were members of such Board at the time of such nomination or election. 
  
 “Corporate Trust Office of the Trustee” means, for purposes of presentation or surrender of Notes for payment, registration, transfer,
exchange or purchase or for service of notices or demands upon the Company, the office of the Trustee located in The City of New York at which at any particular time its corporate trust business shall be administered (which at the date of execution
of this Indenture is located at One Penn Plaza, Suite 1414, New York, NY, 10119, Attention: Corporate Trust Group), with a copy to the office of the Trustee located in the City of Houston (which at the date of execution of this Indenture is located
at 5847 San Felipe, Suite 1050, Houston, TX, 77057, Attention: Corporate Trust Group), or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the 

  

 4 

 
principal corporate trust office of any successor Trustee (or such other address as a successor Trustee may designate from time to time by notice to the
Holders and the Company). 
  
 “Credit Agreement”
means that certain Credit Agreement, dated on or about December 28, 2004, by and among the Company, Wachovia Bank, N.A., as Administrative Agent and Wachovia Capital Markets, LLC, Banc of America Securities LLC and Deutsche Bank Securities Inc. as
joint arrangers and joint book-running managers, and the other agents and lenders named therein, including any related letters of credit, notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and, in
each case, as amended, modified, renewed, refunded, replaced (whether upon or after termination or otherwise) or refinanced (including by means of sales of debt securities to institutional investors) from time to time by one or more credit
facilities, in which case, the credit agreements or similar agreements together with all other documents and instruments related shall constitute the “Credit Agreement,” whether with the same or new agents and lenders. 
  
 “Default” means any event that is, or with the passage of
time or the giving of notice or both would be, an Event of Default. 
  
 “Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with Section 2.07 hereof, substantially in the form of Exhibit A hereto, except that such Note shall
not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note” attached thereto. 
  
 “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 2.04
hereof as the depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provision of this Indenture. 
  
 “Disqualified Stock” means any Capital Stock that, by its
terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking
fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is one year after the date on which the Notes mature. Notwithstanding the preceding sentence, any Capital Stock that
would constitute Disqualified Stock solely because the holders thereof have the right to require the Company to repurchase such Capital Stock upon the occurrence of a change of control or an asset sale shall not constitute Disqualified Stock if the
terms of such Capital Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to such provisions unless such repurchase or redemption complies with Section 4.10. The term “Disqualified Stock” shall also
include any options, warrants or other rights that are convertible into Disqualified Stock or that are redeemable at the option of the holder, or required to be redeemed, prior to the date that is one year after the date on which the Notes mature.

  
 “Domestic Subsidiary” means any Restricted
Subsidiary of the Company that was formed under the laws of the United States or any state thereof or the District of Columbia. 
  
 “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt
security that is convertible into, or exchangeable for, Capital Stock). 
  
 “Euroclear” means Morgan Guaranty Trust Company of New York, Brussels Office, as operator of the Euroclear System, and any successor thereto. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated by the Commission thereunder. 
  

 5 

 “Exchange Notes” means the Notes issued in the Registered Exchange Offer in accordance
with Section 2.07(f) hereof. 
  
 “Exchange Offer
Registration Statement” has the meaning set forth in the Registration Rights Agreement. 
  
 “Existing Indebtedness” means the aggregate principal amount of Indebtedness of the Company and its Subsidiaries (other than Indebtedness
under the Credit Agreement) in existence on the date hereof, until such amounts are repaid. 
  
 “fair market value” means the price that would be paid in an arm’s-length transaction between an informed and willing seller under no compulsion to sell and an informed and willing buyer under no
compulsion to buy, as determined in good faith by the Board of Directors, whose determination shall be conclusive if evidenced by a Board Resolution. 
  
 “Fixed Charge Coverage Ratio” means with respect to any specified Person for any period, the ratio of the Consolidated Cash Flow of such
Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, Guarantees, repays, repurchases or redeems any Indebtedness or issues,
repurchases or redeems preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage
Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase or redemption of Indebtedness, or such
issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom as if the same had occurred at the beginning of the applicable four-quarter reference period. In addition, for purposes of calculating the Fixed Charge
Coverage Ratio: (1) acquisitions and dispositions of business entities or property and assets constituting a division or line of business of any Person that have been made by the specified Person or any of its Restricted Subsidiaries, including
through mergers or consolidations and including any related financing transactions, during the four-quarter reference period or subsequent to such reference period and on or prior to the Calculation Date shall be given pro forma effect as if they
had occurred on the first day of the four-quarter reference period and Consolidated Cash Flow for such reference period shall be calculated on a pro forma basis in accordance with Regulation S-X under the Securities Act; (2) the Consolidated Cash
Flow attributable to discontinued operations, as determined in accordance with GAAP shall be excluded; (3) the Fixed Charges attributable to discontinued operations, as determined in accordance with GAAP shall be excluded, but only to the extent
that the obligations giving rise to such Fixed Charges will not be obligations of the specified Person or any of its Subsidiaries following the Calculation Date; and (4) consolidated interest expense attributable to interest on any Indebtedness
(whether existing or being incurred) computed on a pro forma basis and bearing a floating interest rate shall be computed as if the rate in effect on the Calculation Date (taking into account any interest rate option, swap, cap or similar
agreement applicable to such Indebtedness if such agreement has a remaining term in excess of twelve months or, if shorter, at least equal to the remaining term of such Indebtedness) had been the applicable rate for the entire period. 
  
 “Fixed Charges” means, with respect to any specified Person
for any period, the sum, without duplication, of: (1) the consolidated interest expense of such Person and its Subsidiaries for such period, whether paid or accrued, including, without limitation, amortization of debt issuance costs and original
issue discount, non-cash interest payments, the interest component of any deferred payment obligations, the interest component of all payments associated with Capital Lease Obligations, commissions, discounts and other fees and charges incurred in
respect of letter of credit or bankers’ acceptance financings, and net of the effect of all payments made or received pursuant to Hedging Obligations; plus (2) the consolidated interest of such Person and its Restricted Subsidiaries that
was capitalized during such period; plus (3) any interest expense on Indebtedness of another Person that is Guaranteed by such Person or one of its Restricted Subsidiaries or secured by a Lien on assets of such Person or one of its Restricted
Subsidiaries, whether or not such Guarantee or Lien is called upon; plus (4) the product of (a) all dividends, whether paid or accrued and whether or not in cash, on any series of Disqualified Stock or preferred stock of such Person or any of
its Restricted Subsidiaries, other than dividends on Equity Interests payable solely in Equity Interests of the Company (other than Disqualified Stock) or to the Company or a Restricted Subsidiary of the Company, times (b) a fraction, the numerator
of which is one and the denominator of which is one minus the then current combined federal, state and local statutory tax rate of such Person, expressed as a decimal, in each case, on a consolidated basis and in accordance with GAAP. 
  

 6 

 “GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants, the opinions and pronouncements of the Public Company Accounting Oversight Board and in the statements and pronouncements of the Financial
Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect on the Issue Date. 
  
 “Global Note Legend” means the legend set forth in Section
2.07(g)(ii), which is required to be placed on all Global Notes issued under this Indenture. 
  
 “Global Notes” means, individually and collectively, each of the Restricted Global Notes and the Unrestricted Global Notes, substantially in the form of Exhibit A hereto, as appropriate, issued
in accordance with Section 2.01 of this Indenture. 
  
 “Guarantee” means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business), direct or indirect, in any manner including, without limitation, by way of a pledge of
assets or through letters of credit or reimbursement agreements in respect thereof, of all or any part of any Indebtedness (whether arising by virtue of partnership arrangements or by agreements to keep-well, to purchase assets, goods, securities,
to take or pay or to maintain financial statement conditions or otherwise). 
  
 “Hedging Obligations” means, with respect to any specified Person, the obligations of such Person under: (1) interest rate swap agreements, interest rate cap agreements, interest rate collar
agreements and other agreements or arrangements designed to protect such Person against fluctuations in interest rates; (2) commodity swap agreements, commodity option agreements, forward contracts and other agreements or arrangements designed to
protect such Person against fluctuations in commodity prices; and (3) foreign exchange contracts, currency swap agreements and other agreements or arrangements designed to protect such Person against fluctuations in foreign currency exchange rates.

  
 “Holder” means a Person in whose name a Note
is registered on the Registrar’s books. 
  
 “incur” means, with respect to any Indebtedness, to incur, create, issue, assume, Guarantee or otherwise become directly or indirectly liable for or with respect to, or become responsible for, the payment of, contingently
or otherwise, such Indebtedness; provided that (i) any Indebtedness of a Person existing at the time such Person becomes a Restricted Subsidiary shall be deemed to be incurred by such Restricted Subsidiary at the time it becomes a Restricted
Subsidiary and (ii) neither the accrual of interest nor the accretion of original issue discount nor the payment of interest in the form of additional Indebtedness (to the extent provided for when the Indebtedness on which such interest is paid was
originally issued) shall be considered an incurrence of Indebtedness. 
  
 “Indebtedness” means, without duplication, with respect to any specified Person, any indebtedness of such Person, whether or not contingent: (1) in respect of borrowed money; (2) evidenced by bonds, notes, debentures or
similar instruments or letters of credit (or reimbursement agreements in respect thereof), but excluding obligations with respect to letters of credit (including trade letters of credit) entered into in the ordinary course of business of such Person
to the extent such letters of credit are not drawn upon or, if drawn upon, to the extent such drawing is reimbursed no later than the third Business Day following receipt by such Person of a demand for reimbursement; (3) in respect of banker’s
acceptances; (4) representing Capital Lease Obligations and Attributable Debt; (5) representing the balance deferred and unpaid of the purchase price of any property which purchase price is due more than six months after the date of placing such
property in service or taking delivery and title thereto or the completion of such services, except any such balance that constitutes an accrued expense or trade payable; (6) representing Hedging Obligations, other than Hedging Obligations that are
incurred for the purpose of protecting the Company or its Restricted Subsidiaries against fluctuations in interest rates, commodity prices or foreign currency exchange rates, and not for speculative purposes, and that do not increase the
Indebtedness of the obligor outstanding at any time other than as a result of fluctuations in interest rates, commodity prices or foreign currency exchange rates or by reason of fees, indemnities and compensation payable thereunder; or (7)
representing Disqualified Stock valued at the greater of its voluntary or involuntary maximum fixed repurchase price plus accrued dividends. In addition, the term “Indebtedness” includes (x) all Indebtedness of others secured by a
Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person), provided that the amount of such Indebtedness shall be the lesser of (A) the fair market value of such asset at such date of

  

 7 

 
determination and (B) the amount of such Indebtedness, and (y) to the extent not otherwise included, the Guarantee by the specified Person of any
Indebtedness of any other Person. For purposes hereof, the “maximum fixed repurchase price” of any Disqualified Stock which does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock
as if such Disqualified Stock were purchased on any date on which Indebtedness shall be required to be determined pursuant to this Indenture, and if such price is based upon, or measured by, the fair market value of such Disqualified Stock, such
fair market value shall be determined in good faith by the Board of Directors of the issuer of such Disqualified Stock, whose determination shall be conclusive if evidenced by a Board Resolution. The amount of any Indebtedness outstanding as of any
date shall be the outstanding balance at such date of all unconditional obligations as described above and, with respect to contingent obligations, the maximum liability upon the occurrence of the contingency giving rise to the obligation, and shall
be: (i) the accreted value thereof, in the case of any Indebtedness issued with original issue discount; and (ii) the principal amount thereof, together with any interest thereon that is more than 30 days past due, in the case of any other
Indebtedness; provided that the obligation to repay money borrowed and set aside at the time of the incurrence of any Indebtedness in order to pre-fund the payment of the interest on such Indebtedness shall be deemed not to be
“Indebtedness” so long as such money is held to secure the payment of such interest. 
  
 “Indenture” means this Indenture, as amended or supplemented from time to time in accordance with the terms hereof. 
  
 “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a
Participant. 
  
 “Institutional Accredited
Investor” means an institution that is an “accredited investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who is not also a QIB. 
  
 “Initial Purchasers” means Wachovia Capital Markets, LLC, Banc of America Securities LLC, Deutsche Bank
Securities Inc., Scotia Capital (USA) Inc. and BB&T Capital Markets, a division of Scott and Stringfellow, Inc. 
  
 “Investments” means, with respect to any Person, all direct or indirect investments by such Person in other Persons (including
Affiliates) in the form of loans or other extensions of credit (including Guarantees or other arrangements, but excluding advances to customers or suppliers in the ordinary course of business that are, in conformity with GAAP, recorded as accounts
receivable, prepaid expenses or deposits on the balance sheet of the Company or its Restricted Subsidiaries and endorsements for collection or deposit arising in the ordinary course of business), advances (excluding commission, travel and similar
advances to officers and employees made consistent with past practices), capital contributions (by means of any transfer of cash or other property to others or any payment for property or services for the account or use of others), purchases or
other acquisitions for consideration of Indebtedness, Equity Interests or other securities, together with all items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP. If the Company or any Restricted
Subsidiary of the Company sells or otherwise disposes of any Equity Interests of any direct or indirect Restricted Subsidiary of the Company such that, after giving effect to any such sale or disposition, such Person is no longer a Wholly Owned
Restricted Subsidiary of the Company and a Subsidiary Guarantor, the Company shall be deemed to have made an Investment on the date of any such sale or disposition equal to the fair market value of the Investment in such Restricted Subsidiary not
sold or disposed of in an amount determined as provided in the final paragraph of Section 4.10. The acquisition by the Company or any Restricted Subsidiary of the Company of a Person that holds an Investment in a third Person shall be deemed to be
an Investment by the Company or such Restricted Subsidiary in such third Person in an amount equal to the fair market value of the Investment held by the acquired Person in such third Person in an amount determined as provided in the final paragraph
of Section 4.10. 
  
 “Issue Date” means the date
hereof, which is the date on which the Notes are originally issued under this Indenture. 
  
 “Letter of Transmittal” means the Letter of Transmittal to be prepared by the Company and sent to all Holders for use by such Holders in connection with the Registered Exchange Offer. 
  

 8 

 “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option
or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statute) of any jurisdiction. 
  
 “Net Income” means, with respect to any specified Person,
the net income or loss of such Person, determined in accordance with GAAP and before any reduction in respect of preferred stock dividends, excluding, however, (1) any gain, loss or non-cash charge or expense, together with any related provision for
taxes on such gain or tax benefit for such loss or non-cash charge or expense, realized or recorded, as applicable, in connection with (a) any asset sale outside the ordinary course of business; (b) the disposition of any securities by such Person
or any of its Restricted Subsidiaries or the extinguishment of any Indebtedness of such Person or any of its Restricted Subsidiaries or (c) any asset impairment or writedown required to be made in accordance with GAAP; and (2) any extraordinary gain
or loss, together with any related provision for taxes on such extraordinary gain or tax benefit for such loss. 
  
 “Net Proceeds” means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Asset
Sale (including, without limitation, any cash received upon the sale or other disposition of any non-cash consideration received in any Asset Sale), net of the direct costs relating to such Asset Sale, including, without limitation, legal, title and
recording expenses, accounting and investment banking fees, and sales commissions, and any relocation expenses incurred as a result thereof, taxes paid or payable as a result thereof, in each case, after taking into account any available tax credits
or deductions and any tax sharing arrangements, and amounts required to be applied to the repayment of Indebtedness, secured by a Lien on the asset or assets that were the subject of such Asset Sale and any reserve for adjustment in respect of the
sale price of such asset or assets established in accordance with GAAP. 
  
 “Non-U.S. Person” means a Person who is not a U.S. Person. 
  
 “Notes” means the 7.50% Senior Notes due 2014 of the Company issued on the date hereof. For all purposes of this Indenture, the term “Notes” shall include the Notes initially issued
on the Issue Date, any Exchange Notes to be issued and exchanged for any Notes pursuant to the Registration Rights Agreement and this Indenture and any other Notes issued after the Issue Date under this Indenture. For purposes of this Indenture, all
Notes shall vote together as one series of Notes under this Indenture. 
  
 “Notes Custodian” means the custodian with respect to a Global Note (as appointed by the Depositary), or any successor person thereto and shall initially be the Trustee. 
  
 “Obligations” means any principal, interest, penalties,
fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any Indebtedness. 
  
 “Offering Memorandum” means the final offering memorandum dated December 15, 2004 related to the offering of the Notes. 
  
 “Officer” means, with respect to any Person, the Chairman of
the Board, the Chief Executive Officer, the President, any Vice President, the Chief Financial Officer or the Treasurer of such Person. 
  
 “Officers’ Certificate” means, with respect to any Person, a certificate signed by two Officers, one of which must be the principal
executive, principal financial or principal accounting officer of such Person, that satisfies the requirements set forth in Sections 13.04 and 13.05 of this Indenture. 
  
 “Opinion of Counsel” means a written opinion from legal counsel who is reasonably acceptable to the
Trustee, satisfying the requirements of Sections 13.04 and 13.05, as they relate to an Opinion of Counsel. The counsel may be an employee of or counsel to the Company (or any Subsidiary Guarantor, if applicable). 
  

 9 

 “Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person
who has an account with the Depositary, Euroclear or Clearstream, respectively (and with respect to DTC, shall include Euroclear and Clearstream). 
  
 “Permitted Business” means any business conducted or proposed to be conducted (as described in or contemplated by the Offering
Memorandum) by the Company and its Restricted Subsidiaries on the date of this Indenture and other businesses reasonably related, ancillary, incidental or complementary thereto. 
  
 “Permitted Holder” means Tilman J. Fertitta and his estate, spouse and lineal descendants, and the legal
representatives of any of the foregoing, and the trustees of any bona fide trusts of which any of the foregoing are the sole beneficiaries and grantors, or any corporation, limited partnership, limited liability company or similar entity, all of the
Voting Stock of which is owned by any of the foregoing. 
  
 “Permitted Investments” means: (1) any Investment in the Company or in a Restricted Subsidiary of the Company; (2) any Investment in Cash Equivalents; (3) any Investment by the Company or any Restricted Subsidiary of the
Company in a Person, if as a result of such Investment: (a) such Person becomes a Restricted Subsidiary of the Company; or (b) such Person is merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its assets
to, or is liquidated into, the Company or a Restricted Subsidiary of the Company; (4) any Investment made as a result of the receipt of non-cash consideration from an Asset Sale that was made pursuant to and in compliance with Section 4.11; (5)
Investments acquired solely in exchange for the issuance of Equity Interests (other than Disqualified Stock) of the Company; (6) Hedging Obligations that are incurred for the purpose of protecting the Company or its Restricted Subsidiaries against
fluctuations in interest rates, commodity prices or foreign currency exchange rates, and not for speculative purposes, and that do not increase the Indebtedness of the obligor outstanding at any time other than as a result of fluctuations in
interest rates, commodity prices or foreign currency exchange rates or by reason of fees, indemnities and compensation payable thereunder; (7) advances to customers or suppliers in the ordinary course of business that are, in conformity with GAAP,
recorded as accounts receivable, prepaid expenses or deposits on the balance sheet of the Company or its Restricted Subsidiaries and endorsements for collection or deposit arising in the ordinary course of business; (8) commission, payroll, travel
and similar advances to officers and employees of the Company or any of its Restricted Subsidiaries made consistent with past practices; (9) Investments in securities of trade creditors or customers received pursuant to any plan of reorganization or
similar arrangement upon the bankruptcy or insolvency of such trade creditors or customers; (10) stock, obligations or securities received in satisfaction of judgments; (11) Investments in shares of Common Stock of other Persons engaged in a
Permitted Business having an aggregate fair market value (measured on the date each such Investment was made and without giving effect to subsequent changes in value), when taken together with all other Investments made pursuant to this clause (11)
since the date of this Indenture, not to exceed 2.5 percent of the Consolidated Net Tangible Assets of the Company and its Restricted Subsidiaries as of the most recent quarter-end balance sheet date as determined, at the time of each such
Investment, on the basis of the most recently available quarterly consolidated financial statements of the Company; provided that the Common Stock of such Person is, at the time of such Investment, listed on a U.S. national securities
exchange or quoted on the National Nasdaq Market; (12) Investments in any Person (including, without limitation, the repurchase of Equity Interests of the Company) made after the Issue Date from the proceeds of the offering of the Notes and
borrowings under the Credit Agreement, as provided in the Offering Memorandum under the section entitled “Use Of Proceeds,” in an aggregate amount (measured on the date such Investments were made and without giving effect to subsequent
changes in value), when taken together with all other Investments made pursuant to this clause (12) since the date of this Indenture, not to exceed $300.0 million; provided that with respect to any Investment made pursuant to this clause (12)
since the date of this Indenture that is sold or otherwise liquidated for cash, the amount available for Investments pursuant to this clause (12) shall be deemed increased by an amount equal to the lesser of (a) the cash return of capital with
respect to such Investment (less the cost of disposition, if any) and (b) the initial amount of such Investment; and (13) other Investments in any Person (other than any of the Company’s Restricted Subsidiaries), including, without limitation,
the repurchase of Equity Interests of the Company, having an aggregate fair market value (measured on the date each such Investment was made and without giving effect to subsequent changes in value), when taken together with all other Investments
made pursuant to this clause (13) since the date of this Indenture, not to exceed $100.0 million; provided that with respect to any Investment made pursuant to this clause (13) since the date of this Indenture that is sold or otherwise
liquidated for cash, the amount available for Investments pursuant to this clause (13) shall be deemed increased by an amount equal to the lesser of (a) the cash 

  

 10 

 
return of capital with respect to such Investment (less the cost of disposition, if any) and (b) the initial amount of such Investment. 
  
 “Permitted Liens” means: (1) Liens on the assets of the
Company and any Subsidiary Guarantor securing Indebtedness that are permitted by clause (1) and (8) of the second paragraph of Section 4.09 hereof to be incurred; (2) Liens securing the Notes and the Subsidiary Guarantees; (3) Liens in favor of the
Company or any Restricted Subsidiary; (4) Liens on property of a Person existing at the time such Person is merged with or into or consolidated with the Company or any Restricted Subsidiary of the Company; provided that such Liens were in
existence prior to the contemplation of such merger or consolidation and do not extend to any assets other than those of the Person merged into or consolidated with the Company or the Restricted Subsidiary; (5) Liens on property existing at the time
of acquisition thereof by the Company or any Restricted Subsidiary of the Company, provided that such Liens were in existence prior to the contemplation of such acquisition and do not extend to any property other than the property so acquired
by the Company or the Restricted Subsidiary; (6) Liens existing on the date of this Indenture; (7) Liens incurred in the ordinary course of business of the Company or any Restricted Subsidiary of the Company with respect to obligations that do not
exceed $5.0 million at any one time outstanding; (8) Liens to secure Indebtedness (including Capital Lease Obligations) permitted by clause (4) of the second paragraph of Section 4.09 hereof covering only the assets acquired with such Indebtedness;
(9) statutory and common law Liens of landlords and carriers, warehousemen, mechanics, suppliers, materialmen, repairmen or other similar Liens arising in the ordinary course of business and with respect to amounts not yet delinquent or being
contested in good faith by appropriate legal proceedings promptly instituted and diligently conducted and for which a reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made; (10) Liens on
cash or Cash Equivalents securing Hedging Obligations of the Company or any of its Restricted Subsidiaries (a) that are incurred for the purpose of fixing, hedging or swapping interest rate, commodity price or foreign currency exchange rate risk (or
to reverse or amend any such agreements previously made for such purposes), and not for speculative purposes, or (b) securing letters of credit that support such Hedging Obligations; (11) Liens incurred or deposits made in the ordinary course of
business in connection with worker’s compensation, unemployment insurance or other social security obligations; (12) Lien, deposits or pledges to secure the performance of bids, tenders, contracts (other than contracts for the payment of
Indebtedness), leases, or other similar obligations arising in the ordinary course of business; (13) survey exceptions, encumbrances, easements or reservations of, or rights of other for, rights of way, zoning or other restrictions as to the use of
properties, and defects in title which, in the case of any of the foregoing, were not incurred or created to secure the payment of Indebtedness, and which in the aggregate do not materially adversely affect the value of such properties or materially
impair the use for the purposes of which such properties are held by the Company or any of its Restricted Subsidiaries; (14) judgment and attachment Liens not giving rise to an Event of Default and notices of lis pendens and associated rights
related to litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made; (15) Liens, deposits or pledges to secure public or statutory obligations, surety, stay, appeal, indemnity, performance or
other similar bonds or obligations; and Liens, deposits or pledges in lieu of such bonds or obligations, or to secure such bonds or obligations, or to secure letters of credit in lieu of or supporting the payment of such bonds or obligations; (16)
Liens in favor of collecting or payor banks having a right of setoff, revocation, refund or chargeback with respect to money or instruments of the Company or any Subsidiary thereof on deposit with or in possession of such bank; (17) any interest or
title of a lessor, licensor or sublicensor in the property subject to any lease, license or sublicense; (18) Liens arising from precautionary UCC financing statements regarding operating leases or consignments; (19) Liens of franchisors in the
ordinary course of business not securing Indebtedness; (20) Liens for taxes, assessments and governmental charges not yet delinquent or being contested in good faith and for which adequate reserves have been established to the extent required by
GAAP; and (21) Liens on property or assets securing Indebtedness incurred to defease Indebtedness under the Notes; provided that such Indebtedness was not incurred in violation of this Indenture. 
  
 “Permitted Refinancing Indebtedness” means any Indebtedness
of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund other Indebtedness of the Company or any of its Restricted Subsidiaries (other
than intercompany Indebtedness); provided that: (1) the principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness
so extended, refinanced, renewed, replaced, defeased or refunded (plus all accrued interest thereon and the amount of any reasonably determined premium necessary to accomplish such refinancing and such reasonable expenses incurred in connection
therewith); (2) such Permitted Refinancing Indebtedness has a final maturity date 

  

 11 

 
later than the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the
Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded; (3) if the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded is subordinated in right of payment to the Notes or the Subsidiary
Guarantees, such Permitted Refinancing Indebtedness has a final maturity date later than the final maturity date of, and is subordinated in right of payment to, the Notes on terms at least as favorable to the Holders as those contained in the
documentation governing the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded; (4) if the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded is pari passu in right of payment to the
Notes or the Subsidiary Guarantees, such Permitted Refinancing Indebtedness is pari passu or subordinated in right of payment to the Notes; and (5) such Indebtedness is incurred either by (a) the Restricted Subsidiary who is the obligor on
the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded or (b) the Company. 
  
 “Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated
organization, limited liability company or government or other entity. 
  
 “Private Placement Legend” means the legend set forth in Section 2.07(g)(i) to be placed on all Notes issued under this Indenture except where otherwise permitted by the provisions of this Indenture. 
  
 “Public Equity Offering” means an offer and sale of common
stock (other than Disqualified Stock) of the Company pursuant to a registration statement that has been declared effective by the Commission pursuant to the Securities Act (other than a registration statement on Form S-8 or otherwise relating to
equity securities issuable under any employee benefit plan of the Company). 
  
 “QIB” means a qualified institutional buyer as that term is defined in Rule 144A. 
  
 “Registered Exchange Offer” has the meaning set forth in the Registration Rights Agreement. 
  
 “Registration Rights Agreement” means the Registration
Rights Agreement dated December 28, 2004 among the Company, the Subsidiary Guarantors and the Initial Purchasers, or any other Registration Rights Agreement executed in connection with the issuance of Notes after the Issue Date, as the case may be.

  
 “Regulation S” means Regulation S promulgated
under the Securities Act. 
  
 “Regulation S Global
Note” means a global note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee
that shall be issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 903 of Regulation S. 
  
 “Replacement Assets” means (1) non-current tangible assets that will be used or useful in a Permitted Business or (2) substantially all
the assets of a Permitted Business or a majority of the Voting Stock of any Person engaged in a Permitted Business that will become on the date of acquisition thereof a Wholly Owned Restricted Subsidiary and a Guarantor. 
  
 “Restricted Definitive Note” means a Definitive Note bearing
the Private Placement Legend. 
  
 “Restricted Global
Note” means a Global Note bearing the Private Placement Legend. 
  
 “Restricted Investment” means an Investment other than a Permitted Investment. 
  
 “Restricted Subsidiary” of a Person means any Subsidiary of such Person that is not an Unrestricted Subsidiary. 
  
 “Rule 144” means Rule 144 promulgated under the Securities
Act. 
  
 “Rule 144A” means Rule 144A promulgated
under the Securities Act. 
  

 12 

 “Rule 903” means Rule 903 promulgated under the Securities Act. 
  
 “Rule 904” means Rule 904 promulgated under the Securities
Act. 
  
 “sale and leaseback transaction” means,
with respect to any Person, any transaction involving any of the assets or properties of such Person whether now owned or hereafter acquired, whereby such Person sells or otherwise transfers such assets or properties and then or thereafter leases
such assets or properties or any part thereof or any other assets or properties which such Person intends to use for substantially the same purpose or purposes as the assets or properties sold or transferred. 
  
 “Securities Act” means the Securities Act of 1933, as
amended, and the rules and regulations promulgated thereunder. 
  
 “Secured Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries secured by a Lien upon any asset of the Company or any of its Restricted Subsidiaries. 
  
 “Shelf Registration Statement” means the registration
statement filed by the Company in connection with the offer and sale of Notes pursuant to the Registration Rights Agreement. 
  
 “Significant Subsidiary” means any Subsidiary that would constitute a “significant subsidiary” within the meaning of Article 1
of Regulation S-X promulgated under the Securities Act; provided, that for purposes of clauses (7) and (8) of Section 6.01 hereof, all references to 10% in the definition of “significant subsidiary” in Article I of Regulation S-X of
the Securities Act shall be deemed references to “5%.” 
  
 “Stated Maturity” means, with respect to any installment of interest or principal on any series of Indebtedness, the date on which such payment of interest or principal was scheduled to be paid in the original documentation
governing such Indebtedness, and shall not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 
  
 “Subsidiary” means, with respect to any specified Person:
(1) any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and (2) any partnership (a) the sole general partner or the managing
general partner of which is such Person or a Subsidiary of such Person or (b) the only general partners of which are such Person or one or more Subsidiaries of such Person (or any combination thereof). 
  
 “Subsidiary Guarantee” means the Guarantee by any Subsidiary
Guarantor of the Company’s payment obligations under the Notes on a senior basis, as further described in Article Eleven hereof. 
  
 “Subsidiary Guarantors” means (1) each direct or indirect Domestic Subsidiary of the Company and (2) any other Subsidiary that executes a
Guarantee of the Notes in accordance with the provisions of this Indenture; and their respective successors and assigns until released from their obligations under their Guarantees and this Indenture in accordance with the terms of this Indenture.

  
 “TIA” means the Trust Indenture Act of 1939
(15 U.S. Code Sections 77aaa-77bbbb) as in effect on the date hereof, except as provided in Section 9.03; provided, however, that if the TIA is amended after the date hereof, “TIA” means, to the extent required by any such
amendment, the TIA as so amended. 
  
 “Trust
Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president, assistant treasurer, trust officer or any other officer of the
Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity
with the particular subject, and who shall have direct responsibility for the administration of this Indenture. 
  

 13 

 “Trustee” means the party named as such in the first paragraph of this Indenture until a
successor replaces it in accordance with the applicable provisions of this Indenture and thereafter means the successor. 
  
 “Unrestricted Definitive Note” means a Definitive Note that does not bear and is not required to bear the Private Placement Legend.

  
 “Unrestricted Global Note” means a permanent
Global Note substantially in the form of Exhibit A attached hereto that bears the Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that is deposited with or on behalf
of and registered in the name of the Depositary, representing a series of Notes that do not bear the Private Placement Legend. 
  
 “Unrestricted Subsidiary” means (1) Island Hospitality, Inc., Island Entertainment, Inc., LCHLN, Inc. and LGE, Inc., unless and until
such Subsidiary ceases to be a Subsidiary of the Company or is designated as a Restricted Subsidiary pursuant to the terms of this Indenture, (2) any Subsidiary of the Company that is designated by the Board of Directors of the Company as an
Unrestricted Subsidiary pursuant to a Board Resolution in compliance with Section 4.17 hereof and (3) any Subsidiary of any Subsidiary in the foregoing clauses. 
  

“U.S. Government Obligations” means securities that are (i) direct obligations of the United States of America for the payment of
which its full faith and credit is pledged or (ii) 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, which, in either case under clauses (i) or (ii) are not callable or redeemable at the option of the issuer thereof. 
  
 “U.S. Legal Tender” means such coin or currency of the United States as at the time of payment shall be
legal tender for the payment of public and private debts. 
  
 “U.S. Person” means a U.S. person as defined in Rule 902(k) promulgated under the Securities Act. 
  
 “Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election
of the Board of Directors of such Person. 
  
 “Weighted
Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing: (1) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund,
serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment;
by (2) the then outstanding principal amount of such Indebtedness. 
  
 “Wholly Owned Restricted Subsidiary” of any specified Person means a Restricted Subsidiary of such Person all of the outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying
shares or Investments by foreign nationals mandated by applicable law) shall at the time be owned by such Person or by one or more Wholly Owned Restricted Subsidiaries of such Person. 
  
 Other Definitions. 
  

			
	 Term

	  	Defined in Section

	“Adjusted Net Assets”	  	11.03
	“Affiliate Transaction”	  	4.14
	“Asset Sale Offer”	  	4.11
	“Authentication Order”	  	2.02
	“Bankruptcy Law”	  	6.01
	“Change of Control Offer”	  	4.16
	“Change of Control Payment”	  	4.16

  

 14 

			
	“Change of Control Payment Date”	  	4.16
	“Covenant Defeasance”	  	8.02
	“CUSIP”	  	2.13
	“Custodian”	  	6.01
	“DTC”	  	2.04
	“Event of Default”	  	6.01
	“Excess Proceeds”	  	4.11
	“Funding Guarantor”	  	11.03
	“Legal Defeasance”	  	8.02
	“Note Register”	  	2.04
	“Offer Amount”	  	4.11
	“Offer Period”	  	4.11
	“Paying Agent”	  	2.04
	“Permitted Debt”	  	4.09
	“Purchase Date”	  	4.11
	“Registrar”	  	2.04
	“Restricted Payments”	  	4.10

  
 Incorporation by
Reference of Trust Indenture Act. 
  
 Whenever this Indenture
refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms, if used in this Indenture, have the following meanings: 
  
 “Commission” means the Commission. 
  
 “indenture securities” means the Notes and the
Subsidiary Guarantees. 
  
 “indenture security
holder” means a Holder. 
  
 “indenture to be
qualified” means this Indenture. 
  
 “indenture
trustee” or “institutional trustee” means the Trustee. 
  
 “obligor” on the indenture securities means the Company, the Subsidiary Guarantors and any other obligor on the Notes or the Subsidiary Guarantees. 
  
 All other TIA terms used in this Indenture that are defined by the TIA,
defined by TIA reference to another statute or defined by Commission rule have the meanings assigned to them therein. 
  
 Rules of Construction. 
  
 Unless the context otherwise requires: 
  
 a term has the meaning assigned to it; 
  
 an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 
  
 “or” is not exclusive; 
  
 words in the singular include the plural, and words in the plural include the singular; 
  

 15 

 any gender used in this Indenture shall be deemed to include the neuter, masculine or feminine genders;

  
 provisions apply to successive events and transactions; and

  
 “herein,” “hereof” and other words of
similar import refer to this Indenture as a whole and not to any particular Article, Section or other Subdivision. 
  
 THE NOTES 
  
 Form and Dating. 
  
 The Notes and the
Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto, the terms of which are incorporated in and made a part of this Indenture. To the extent any provision of any Note conflicts with the express
provision of this Indenture, the provisions of this Indenture shall control. The Notes may have such notations, legends or endorsements approved as to form by the Company and required, as applicable, by law, stock exchange rule, agreements to which
the Company is subject and/or usage. Each Note shall be dated the date of its authentication. The Notes shall be issuable only in denominations of $1,000 and integral multiples thereof. The terms of the Notes set forth in Exhibit A are part
of the terms of this Indenture. 
  
 Global Notes.
Notes issued in global form shall be substantially in the form of Exhibit A hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in
definitive form shall be substantially in the form of Exhibit A hereto (but without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note shall
represent such of the outstanding Notes as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of
outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal
amount of outstanding Notes represented thereby shall be made by the Trustee in accordance with instructions given by the Holder thereof as required by Section 2.07 hereof. 
  
 Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the
Euroclear System” and “Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream” and “Customer Handbook” of Clearstream shall be applicable to transfers of beneficial
interests in the Regulation S Global Notes that are held by Participants through Euroclear or Clearstream. 
  
 Execution and Authentication. 
  
 Two Officers of the Company shall sign the Notes for the Company, by manual or facsimile signature. 
  
 If an Officer of the Company whose signature is on a Note no longer holds
that office at the time such Note is authenticated such Note shall be valid nevertheless. 
  
 A Note shall not be valid until authenticated by the manual or facsimile signature of the Trustee. The signature of the Trustee shall be conclusive evidence that a Note has been authenticated in accordance with the
terms of this Indenture. 
  
 The Trustee, upon a written order of
the Company signed by two Officers of the Company (an “Authentication Order”), shall authenticate and deliver Notes for original issue in an aggregate principal amount specified in such order. Such Authentication Order shall specify
the amount of the Notes to be authenticated and the date on which the original issue of Notes is to be authenticated. The aggregate principal amount of Notes which may be authenticated and delivered under this Indenture is unlimited. 
  

 16 

 The Trustee may appoint an authenticating agent acceptable to the Company to authenticate the Notes.
Unless limited by the terms of such appointment, any such authenticating agent may authenticate the Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such
authenticating agent of the Trustee. An authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate of the Company. 
  
 [Reserved]. 
  
 Registrar and Paying Agent. 
  
 The Company shall maintain (i) an office or agency where the Notes may be presented for registration of transfer or for exchange (including any
co-registrar, the “Registrar”); and (ii) an office or agency where the Notes may be presented for payment (“Paying Agent”). The Registrar shall keep a register of the Holders and of the transfer and exchange of such
Notes (the “Note Register”). The Company may appoint one or more co-registrars and one or more additional paying agents. The term “Paying Agent” shall include any such additional paying agent. The Company may change any
Paying Agent, Registrar or co-registrar without prior notice to any Holder of a Note. The Company shall notify the Trustee and the Trustee shall, at the Company’s expense, notify the Holders of the name and address of any Agent not a party to
this Indenture. The Company or any of its domestically incorporated wholly owned Subsidiaries may act as Paying Agent, Registrar or co-registrar. The Company shall enter into an appropriate agency agreement with any Agent not a party to this
Indenture. Any such agency agreement shall implement the provisions of this Indenture that relate to such Agent. If the Company fails to maintain a Registrar or Paying Agent, or fails to give the foregoing notice, the Trustee shall act as such, as
appropriate, and shall be entitled to appropriate compensation in accordance with Section 7.07. 
  
 The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the Global Notes. 
  
 The Company initially appoints the Trustee to act as (i) Registrar and Paying
Agent, (ii) Note Custodian with respect to the Global Notes and (iii) agent for service of notices and demands in connection with the Notes. 
  
 Paying Agent to Hold Money in Trust. 
  
 On or prior to each due date of the principal of, premium, if any, and interest on any Note, the Company shall deposit with the Paying Agent a sum
sufficient to pay such principal, premium, if any, and interest when so becoming due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of the Holders
or the Trustee all money held by the Paying Agent for the payment of principal of, premium, if any, and interest on the Notes, and shall notify the Trustee of any Default by the Company in making any such payment. While any such Default continues,
the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee
and accounting for any funds disbursed, the Paying Agent (if other than the Company or one of its wholly owned Subsidiaries) shall have no further liability for the money delivered to the Trustee. If the Company or one of its wholly owned
Subsidiaries acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. 
  
 Lists of Holders of Notes. 
  
 The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of the
Holders. If the Trustee is not the Registrar, the Company shall furnish or cause to be furnished to the Trustee at least ten Business Days before each interest payment date and at such other times as the Trustee may request in writing a list in such
form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders, including the aggregate principal amount of Notes held by each such Holder of Notes. 
  

 17 

 Transfer and Exchange. 
  
 Transfer and Exchange of Global Notes. A Global Note may not be transferred as a whole except by the
Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. Global
Notes shall be exchanged by the Company for Definitive Notes if: 
  
 the Company delivers to the Trustee notice from the Depositary that it is unwilling or unable to continue to act as Depositary or that it is no longer a clearing agency registered under the Exchange Act and, in either case, a successor
Depositary is not appointed by the Company within 120 days after the date of such notice from the Depositary; 
  
 the Company, at its option, notifies the Trustee in writing that it elects to cause the issuance of the Definitive Notes; or 
  
 there shall have occurred and be continuing a Default or Event of Default
with respect to the Notes. 
  
 Upon the occurrence of any of the events in (i),
(ii) or (iii) above, Definitive Notes shall be issued in such names as the Depositary shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.08 and 2.11 hereof. Except as otherwise
provided above in this Section 2.07(a), every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.07 or Section 2.08 or 2.11 hereof, shall be authenticated and delivered
in the form of, and shall be, a Global Note. A Global Note may not be exchanged for another Note other than as provided in this Section 2.07(a), however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section
2.07(b), (c) or (f) hereof. 
  
 Transfer and Exchange of
Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global Notes shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures.
Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also shall
require compliance with either subparagraph (i) or (ii) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 
  
 Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons who take
delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set forth in the Private Placement Legend. Beneficial interests in any Unrestricted Global Note may be transferred
to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section
2.07(b)(i). 
  
 All Other Transfers and Exchanges of Beneficial
Interests in Global Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.07(b)(i) above, the transferor of such beneficial interest must deliver to the Registrar either (A) (1) a written
order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to
the beneficial interest to be transferred or exchanged and (2) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or (B) (1) a written order from
a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or
exchanged and (2) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1) above. Upon consummation
of a Registered Exchange Offer by the Company in accordance with Section 2.07(f) hereof, the requirements of this Section 2.07(b)(ii) shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter of
Transmittal delivered by the Holder of such beneficial interests in the Restricted Global Notes. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests 

  

 18 

 
in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of
the relevant Global Notes pursuant to Section 2.07(h) hereof. 
  
 Transfer of Beneficial Interests in a Restricted Global Note to Another Restricted Global Note. A beneficial interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial
interest in another Restricted Global Note if the transfer complies with the requirements of Section 2.07(b)(ii) above and the Registrar receives the following: 
  

if the transferee shall take delivery in the form of a beneficial interest in the 144A Global Note, then the transferor must deliver a certificate in
the form of Exhibit B hereto, including the certifications in item (1) thereof; and 
  
 if the transferee shall take delivery in the form of a beneficial interest in the Regulation S Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the
certifications in item (2) thereof. 
  
 Transfer and Exchange
of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any Restricted Global Note may be exchanged by any Holder thereof for a beneficial interest in an Unrestricted
Global Note or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.07(b)(ii) above and: 
  
 such exchange or transfer is effected pursuant to the Registered Exchange
Offer in accordance with the Registration Rights Agreement and the Holder of the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that
it is not (1) a broker-dealer, (2) a Person participating in the distribution of the Exchange Notes or (3) a Person who is an affiliate (as defined in Rule 144) of the Company; 
  
 such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement;

  
 such transfer is effected by a broker-dealer pursuant to the
Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 
  
 the Registrar receives the following: 
  
 if the Holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a beneficial interest in an Unrestricted Global Note, a certificate from such Holder in the form
of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 
  
 if the Holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a Person who shall
take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 
  
 and, in each such case set forth in this subparagraph (D), if the Registrar
so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
  
 If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time when an Unrestricted Global Note has not yet been issued, the Company
shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an 

  

 19 

 
aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to subparagraph (B) or (D) above. 

 
 Beneficial interests in an Unrestricted Global Note cannot be exchanged
for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Note. 
  
 Transfer or Exchange of Beneficial Interests for Definitive Notes. 
  
 Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes. If any Holder of a beneficial
interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted Definitive Note, then,
upon receipt by the Registrar of the following documentation: 
  
 if the Holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such Holder in the form of Exhibit C hereto, including the
certifications in item (2)(a) thereof; 
  
 if such beneficial
interest is being transferred to a QIB in accordance with Rule 144A under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
  
 if such beneficial interest is being transferred to a Non-U.S. Person in an
offshore transaction in accordance with Rule 903 or Rule 904 promulgated under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 
  
 if such beneficial interest is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) and (C) above, a certificate to the effect set forth in Exhibit B hereto, including the
certifications, certificates and Opinion of Counsel required by item (3)(d) thereof, if applicable; or 
  
 if such beneficial interest is being transferred to the Company or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (3)(b) thereof, 
  
 the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.07(h) hereof, and the Company shall execute and the Trustee shall authenticate and deliver to the Person
designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.07(c) shall be registered in such name or
names and in such authorized denomination or denominations as the Holder of such beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such
Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.07(c)(i) shall bear the Private Placement Legend and
shall be subject to all restrictions on transfer contained therein. 
  
 Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. A Holder of a beneficial interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer
such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note only if: 
  
 such exchange or transfer is effected pursuant to the Registered Exchange Offer in accordance with the Registration Rights Agreement and the Holder of
such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (1) a broker-dealer, (2) a Person participating in the distribution of the Exchange
Notes or (3) a Person who is an affiliate (as defined in Rule 144) of the Company; 
  

 20 

 such transfer is effected pursuant to the Shelf Registration Statement in accordance with the
Registration Rights Agreement; 
  
 such transfer is effected by a
broker-dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 
  
 the Registrar receives the following: 
  
 (1) if the Holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Definitive
Note that does not bear the Private Placement Legend, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 
  
 if the Holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial
interest to a Person who shall take delivery thereof in the form of a Definitive Note that does not bear the Private Placement Legend, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4)
thereof; 
  
 and, in each such case set forth in this
subparagraph (D), if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and
that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
  
 Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. If any Holder of
a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then, upon
satisfaction of the conditions set forth in Section 2.07(b)(ii) hereof, the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.07(h) hereof, and the Company shall execute
and the Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.07(c)(iii)
shall be registered in such name or names and in such authorized denomination or denominations as the Holder of such beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect
Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.07(c)(iii) shall not bear the
Private Placement Legend. 
  
 Transfer and Exchange of
Definitive Notes for Beneficial Interests. 
  
 Restricted
Definitive Notes to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive
Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon receipt by the Registrar of the following documentation: 
  
 if the Holder of such Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted
Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof; 
  
 if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A under the Securities Act, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (1) thereof; or 
  
 if such Restricted Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904 under the Securities Act, a certificate to the effect set forth in
Exhibit B hereto, including the certifications in item (2) thereof; 
  

 21 

 the Trustee shall cancel the Restricted Definitive Note, increase or cause to be increased the aggregate
principal amount of, in the case of clause (A) above, the appropriate Restricted Global Note, in the case of clause (B) above, the 144A Global Note, and in the case of clause (C) above, the Regulation S Global Note. 
  
 Restricted Definitive Notes to Beneficial Interests in Unrestricted Global
Notes. A Holder of a Restricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial
interest in an Unrestricted Global Note only if: 
  
 such exchange
or transfer is effected pursuant to the Registered Exchange Offer in accordance with the Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of
Transmittal that it is not (1) a broker-dealer, (2) a Person participating in the distribution of the Exchange Notes or (3) a Person who is an affiliate (as defined in Rule 144) of the Company; 
  
 such transfer is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement; 
  
 such
transfer is effected by a broker-dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 
  
 the Registrar receives the following: 
  
 (2) if the Holder of such Definitive Notes proposes to exchange such Notes for a beneficial interest in the Unrestricted Global Note, a
certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 
  
 if the Holder of such Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the form of a
beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 
  
 and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the Applicable Procedures so
require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement
Legend are no longer required in order to maintain compliance with the Securities Act. 
  
 Upon satisfaction of the conditions of any of the subparagraphs in this Section 2.07(d)(ii), the Trustee shall cancel the Definitive Notes
and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. 
  
 Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted Definitive Note may exchange such
Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time. Upon receipt of a request for
such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Notes. 
  
 If any such exchange or transfer from a Definitive Note to a
beneficial interest is effected pursuant to subparagraphs (ii)(B), (ii)(D) or (iii) above at a time when an Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of an Authentication Order in accordance with
Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. 
  

 22 

 Transfer and Exchange of Definitive Notes for Definitive Notes . Upon request by a Holder
of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.07(e), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder
shall present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In
addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.07(e). 
  
 Restricted Definitive Notes to Restricted Definitive Notes. Any
Restricted Definitive Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following: 
  
 if the transfer is being made to a QIB in accordance with Rule 144A under the
Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 
  
 if the transfer is being made to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; 
  
 if the transfer is being made to an Institutional Accredited Investor pursuant to an exemption from the registration requirements of the Securities Act,
then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3)(d) thereof, if applicable; and 
  
 if the transfer is being made to the Company or any of its Subsidiaries, a
certificate to the effect set forth in Exhibit B hereto, including the certifications in item 3(b) thereof. 
  
 Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the Holder thereof for an
Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if: 
  
 such exchange or transfer is effected pursuant to the Registered Exchange Offer in accordance with the Registration Rights Agreement and the Holder, in
the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (1) a broker-dealer, (2) a Person participating in the distribution of the Exchange Notes or (3) a Person who is
an affiliate (as defined in Rule 144) of the Company; 
  
 any such
transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; 
  
 any such transfer is effected by a broker-dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights
Agreement; or 
  
 the Registrar receives the following:

  
 (3) if the Holder of such Restricted
Definitive Notes proposes to exchange such Notes for an Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 
  
 if the Holder of such Restricted Definitive Notes proposes
to transfer such Notes to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

 
 and, in each such case set forth in this subparagraph (D), if the
Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or 

  

 23 

 
transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act. 
  
 Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of
a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the instructions from the Holder thereof. 
  
 Registered Exchange Offer. Upon the occurrence of the Registered Exchange Offer in accordance with the Registration Rights Agreement, the
Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02, the Trustee shall authenticate (i) one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of the
beneficial interests in the Restricted Global Notes tendered for acceptance by Persons that certify in the applicable Letters of Transmittal that (x) they are not broker-dealers, (y) they are not participating in a distribution of the Exchange Notes
and (z) they are not affiliates (as defined in Rule 144) of the Company, and accepted for exchange in the Registered Exchange Offer, or (ii) Unrestricted Definitive Notes in an aggregate principal amount equal to the principal amount of the
Restricted Definitive Notes accepted for exchange in the Registered Exchange Offer. Concurrently with the issuance of such Notes, the Trustee shall cause the aggregate principal amount of the applicable Restricted Global Notes to be reduced
accordingly, and the Company shall execute and the Trustee shall authenticate and deliver to the Persons designated by the Holders of Restricted Definitive Notes so accepted Unrestricted Definitive Notes in the appropriate principal amount. Any
Notes that remain outstanding after the consummation of the Registered Exchange Offer, and Exchange Notes issued in connection with the Registered Exchange Offer, shall be treated as a single class of securities under this Indenture. 
  
 Legends. The following legends shall appear on the face of all
Global Notes and Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture. 
  
 Private Placement Legend. Except as permitted below, each Global Note and each Definitive Note (and all Notes issued in exchange therefor or
substitution thereof) shall bear the legend in substantially the following form: 
  
 “THIS SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE
SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT: 
  
 (A) SUCH SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED,
ONLY 
  
 (i) (a) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR
RESALE PURSUANT TO RULE 144A, IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES ACT TO A PERSON THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE
TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (b) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR 904 UNDER THE SECURITIES ACT, (c) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” (AS
DEFINED IN RULE 501(a)(1), (2), (3) OR (7) OF THE SECURITIES ACT (AN “INSTITUTIONAL ACCREDITED INVESTOR”)) THAT, PRIOR TO SUCH TRANSFER, FURNISHES 

  

 24 

 
THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS
IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN $100,000, AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUER THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, OR (d) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL, IF THE ISSUER SO REQUESTS). 
  
 (ii) TO THE ISSUER, OR 
  
 (iii) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
  
 (B) THE
HOLDER SHALL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN (A) ABOVE. 
  
 Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to subparagraph (b)(iv), (c)(ii), (c)(iii), (d)(ii),
(d)(iii), (e)(ii), (e)(iii) or (f) of this Section 2.07 (and all Notes issued in exchange therefor or substitution thereof) shall not bear the Private Placement Legend. 
  
 Global Note Legend. Each Global Note shall bear a legend in substantially the following form: 
  
 “THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE
INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED
PURSUANT TO SECTION 2.07 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED PURSUANT TO SECTION 2.07(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND
(IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE
ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
HAS AN INTEREST HEREIN.” 
  
 Cancellation and/or
Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such
Global Note shall be returned to or retained and canceled by the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who
shall take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such
Global Note by the Trustee or by the Depositary at 

  

 25 

 
the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who shall take
delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the
Trustee to reflect such increase. 
  
 General Provisions
Relating to Transfers and Exchanges. 
  
 To permit
registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Global Notes and Definitive Notes upon the Company’s order or at the Registrar’s request. 
  
 No service charge shall be made to a Holder of a beneficial interest in a
Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other
than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 4.11, 4.16 and 9.05 hereof). 
  
 The Registrar shall not be required to register the transfer of or exchange any Note selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part. 
  
 All Global Notes
and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes shall be the valid and legally binding obligations of the Company, evidencing the same debt, and entitled to the same benefits under this
Indenture, as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange. 
  
 The Company or the Registrar, as applicable, shall not be required (A) to issue, to register the transfer of or to exchange any Notes during a period
beginning at the opening of business 15 days before the day of any selection of Notes for redemption under Section 3.02 hereof and ending at the close of business on the day of selection, (B) to register the transfer of or to exchange any Note so
selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part or (C) to register the transfer of or to exchange a Note between a record date and the next succeeding interest payment date. 

 
 Prior to due presentment for the registration of a transfer of any Note,
the Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and for all other purposes,
and none of the Trustee, any Agent or the Company shall be affected by notice to the contrary. 
  
 The Trustee shall authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.02 hereof. 
  
 All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.07 to effect a registration
of transfer or exchange may be submitted by facsimile with the original to follow by first class mail. 
  
 No Obligation of the Trustee. 
  
 The Trustee shall have no responsibility or obligation to any Indirect Participant, Participant or other Person with respect to the accuracy of the
records of the Depositary or its nominee or of any Participant with respect to any ownership interest in the Notes or with respect to the delivery to any Indirect Participant, Participant or other Person (other than the Depositary) of any notice
(including any notice of redemption) or the payment of any amount, under or with respect to such Notes. All notices and communications to be given to the Holders and all payments to be made to Holders under the Notes shall be given or made only to
or upon the order of the registered Holders (which shall be the Depositary or its nominee in the case of the Global Note). The rights of Indirect Participants shall be exercised only through the Depositary subject to the applicable rules and
procedures of the Depositary. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its Participants and Indirect Participants. 
  

 26 

 The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any
restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Participants or Indirect Participants) other than to make any required
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. 
  
 Replacement Notes.

  
 If any mutilated Note is surrendered to the Trustee, or
the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Note, the Company shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if the
Company’s and the Trustee’s reasonable requirements for the replacements of Notes are met. An indemnity bond shall be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the Company, the
Trustee, any Agent or any authenticating agent from any loss which any of them may suffer if a Note is replaced. The Company may charge for its expenses (including fees and expenses of the Trustee) in replacing a Note. 
  
 Every replacement Note shall be an obligation of the Company and shall be
entitled to all benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. 
  
 Outstanding Notes; Treasury Notes. 
  
 The Notes outstanding at any time are all the Notes authenticated by the Trustee, except for those canceled by it, those delivered to it for cancellation
and those described in this Section 2.09 as not outstanding. A Note does not cease to be outstanding because the Company, a Subsidiary Guarantor or any of their respective Subsidiaries or Affiliates of the Company holds such Note. 
  
 In determining whether the Holders of the required principal amount of Notes
have concurred in any direction, waiver or consent, Notes owned by the Company, any Subsidiary Guarantor or an Affiliate of the Company shall be considered as though they are not outstanding, except that for the purposes of determining whether the
Trustee shall be protected in relying on any such direction, waiver or consent, only Notes which a Trust Officer of the Trustee actually knows are so owned shall be so disregarded. 
  
 If a Note is replaced pursuant to Section 2.08, it shall cease to be outstanding unless the Trustee receives proof
satisfactory to it that such replaced Note is held by a bona fide purchaser. A mutilated Note ceases to be outstanding upon surrender of such Note and replacement thereof pursuant to Section 2.08. 
  
 If the Paying Agent segregates and holds in trust, in accordance with this
Indenture, on a redemption date or maturity date money sufficient to pay all principal and interest payable on that date with respect to the Notes (or portions thereof) to be redeemed or maturing, as the case may be, and the Paying Agent is not
prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture, then on and after that date such Notes (or portions thereof) shall cease to be outstanding and interest thereon shall cease to accrue. 

 
 Temporary Notes. 
  
 Until certificates in definitive form for the Notes are ready for delivery,
the Company may prepare and the Trustee shall authenticate certificates in temporary form for the Notes. Certificates in temporary form for the Notes shall be substantially in the form of certificates in definitive form for the Notes but may have
such variations as the Company and the Trustee consider appropriate for certificates in temporary form for the Notes. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate certificates in definitive form for the
Notes in exchange for certificates in temporary form for the Notes. Until such exchange, certificates in temporary form for the Notes shall be entitled to the same rights, benefits and privileges as certificates in definitive form for the Notes.

  

 27 

 Cancellation. 
  
 The Company or any Subsidiary Guarantor at any time may deliver Notes to the Trustee for cancellation. The Registrar and the
Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or
cancellation, and shall dispose of such canceled Notes in its customary manner. 
  
 Defaulted Interest. 
  
 If
the Company defaults in a payment of interest on the Notes, the Company shall pay such defaulted interest in any lawful manner. The Company may pay such defaulted interest to the Persons who are Holders on a subsequent special record date, which
date shall be at the earliest practicable date but in all events at least five Business Days prior to the payment date, in each case at the rate provided in the Notes. The Company shall fix or cause to be fixed any such special record date and
payment date, and, at least 15 days prior to the special record date, the Company shall mail or cause to be mailed to each Holder of a Note a notice that states such special record date, such related payment date and the amount of any such defaulted
interest to be paid to Holders. 
  
 CUSIP Number.

  
 The Company in issuing the Notes may use a
“CUSIP” number, and, if the Company shall do so, the Trustee shall use such CUSIP number in notices of redemption or exchange as a convenience to Holders; provided, however, that any such notice may state that no
representation is made as to the correctness or accuracy of the CUSIP number printed in such notice or on the Notes and that reliance may be placed only on the other identification numbers printed on the Notes. The Company shall promptly notify the
Trustee of any change in a CUSIP number. 
  
 Persons Deemed
Owners. 
  
 The Company, any Subsidiary Guarantor, the
Trustee, any Paying Agent and any authenticating agent may treat the Person in whose name any Note is registered as the owner of such Note for the purpose of receiving payments of principal of, premium, if any, or interest on such Note and for all
other purposes. None of the Company, any Subsidiary Guarantor, the Trustee, any Paying Agent or any authenticating agent shall be affected by any notice to the contrary. 
  
 Issuance of Additional Notes. 
  
 The Company may, subject to Article Four of this Indenture and applicable law, issue additional Notes under this Indenture.
The Notes issued on the Issue Date and any additional Notes subsequently issued shall be treated as a single class for all purposes under this Indenture. 
  
 REDEMPTION 
  
 Notice to Trustee. 
  
 If the Company elects to redeem Notes pursuant to the optional redemption provisions of paragraph 7 of the Notes, it shall furnish to the Trustee, at
least 45 days before the redemption date (unless a shorter period shall be acceptable to the Trustee), an Officers’ Certificate setting forth the redemption date, the principal amount of Notes to be redeemed and the redemption price.

  

 28 

 Selection of Notes to Be Redeemed. 
  
 If less than all of the Notes are to be redeemed, the Trustee shall select the Notes to be redeemed in multiples of $1,000
pro rata, by lot or by any other method that the Trustee considers fair and appropriate; provided that if the Notes are listed on any securities exchange, that such method complies with the requirements of such exchange. The Trustee shall
make the selection from outstanding Notes not previously called for redemption not less than 30 nor more than 60 days prior to the redemption date. The Trustee may select for redemption portions of the principal of Notes that have denominations
larger than $1,000. Notes and portions of them it selects shall be in amounts of $1,000 or whole multiples of $1,000. Provisions of this Indenture that apply to Notes called for redemption also apply to portions of Notes called for redemption. The
Trustee shall notify the Company promptly of the Notes or portions of Notes selected for redemption. 
  
 Notice of Redemption. 
  
 At least 30 days but not more than 60 days before a redemption date, the Company shall mail a notice of redemption by first-class mail to each Holder of
Notes to be redeemed at such Holder’s registered address. 
  
 The notice shall identify the Notes to be redeemed and shall state: 
  
 the redemption date; 
  
 the
redemption price; 
  
 the aggregate principal amount of Notes
being redeemed; 
  
 the name and address of the Paying Agent;

  
 if applicable, that Notes called for redemption must be
surrendered to the Paying Agent at the address specified in such notice to collect the redemption price; 
  
 that, unless the Company defaults in the payment of the redemption price or accrued interest, interest on Notes called for redemption ceases to accrue on
and after the redemption date and the only remaining right of the Holders is to receive payment of the redemption price and accrued interest upon surrender to the Paying Agent of the Notes; 
  
 if any Note is being redeemed in part, the portion of the principal amount of
such Note to be redeemed and that, after the redemption date, upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion shall be issued; 
  
 the paragraph of the Notes pursuant to which the Notes called for redemption are being redeemed; and 
  
 the CUSIP number of the Notes. 
  
 At the Company’s request, the Trustee shall give the notice of
redemption required in Section 3.03(a) in the Company’s name and at the Company’s expense; provided, however, that the Company shall deliver to the Trustee, at least 45 days prior to the redemption date (unless a shorter
period shall be acceptable to the Trustee), an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in Section 3.03(a). 
  
 Effect of Notice of Redemption. 
  
 Once notice of redemption is mailed in accordance with Section 3.03, Notes
called for redemption become due and payable on the redemption date at the redemption price. Upon surrender to the Paying Agent, such Notes shall be paid at the redemption price, plus accrued interest to the redemption date. 
  

 29 

 Deposit of Redemption Price. 
  
 Prior to the redemption date, the Company shall deposit with the Paying Agent funds available not later than 10:00 a.m.
Eastern Time on the redemption date sufficient to pay the redemption price of, and accrued interest on, the Notes to be redeemed on that date. The Paying Agent shall promptly return to the Company any money so deposited which is not required for
that purpose upon the written request of the Company, except with respect to monies owed as obligations to the Trustee pursuant to Article Seven. 
  
 If any Note called for redemption shall not be so paid upon redemption because of the failure of the Company to comply with the preceding paragraph,
interest shall continue to be payable on the unpaid principal and premium, if any, including from the redemption date until such principal and premium, if any, is paid, and, to the extent lawful, on any interest not paid on such unpaid principal, in
each case at the rate provided in the Notes and in Section 4.01 hereof. 
  
 Notes Redeemed in Part. 
  
 Upon surrender of a
Note that is to be redeemed in part, the Company shall issue and the Trustee shall authenticate for the Holder, at the expense of the Company, a new Note equal in aggregate amount to the unredeemed portion of the Note surrendered. 
  
 COVENANTS 
  
 Payment of Notes. 
  
 The Company shall pay the principal of, premium, if any, and interest on, the Notes on the dates and in the manner provided in the Notes and this
Indenture. Principal, premium, if any, and interest shall be considered paid on the date due if the Trustee or Paying Agent holds (or segregates if the Company is the Paying Agent), as of 10:00 a.m. Eastern Time, on that date money deposited by the
Company designated for and sufficient to pay all principal, premium, if any, and interest then due. Reference in this Indenture and the Notes to “interest” with respect to the Notes shall include any additional interest that accrues on the
Notes as a result of the provisions of the Registration Rights Agreement, which additional interest on the Notes shall be due and payable as provided by the Registration Rights Agreement. 
  
 The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal, and premium, if any, at the rate borne by the Notes to the extent lawful; and it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any
applicable grace period) at the same rate to the extent lawful. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. 
  
 Commission Reports. 
  
 Whether or not required by the Commission, so long as any Notes are outstanding, the Company shall furnish to the Trustee, within the time periods
specified in the Commission’s rules and regulations: 
  
 (1) all quarterly and annual financial information that would be required to be contained in a filing with the Commission on Forms 10-Q and 10-K if the Company were required to file such Forms, including a
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the annual information only, a report on the annual financial statements by the Company’s certified independent
accountants; and 
  

 30 

 (2) all current reports that would be required to be filed with the Commission on Form
8-K if the Company were required to file such reports. 
  
 In
addition, whether or not required by the Commission, the Company shall file a copy of all of the information and reports referred to in clauses (1) and (2) above with the Commission for public availability within the time periods specified in the
Commission’s rules and regulations (unless the Commission will not accept such a filing) and make such information available to prospective investors upon request. In addition, for so long as any Notes remain outstanding, the Company and the
Subsidiary Guarantors shall furnish to the Holders and to prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
  
 If the Company has designated any of its Subsidiaries as Unrestricted
Subsidiaries, then the quarterly and annual financial information required by the preceding paragraph shall include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in
“Management’s Discussion and Analysis of Financial Condition and Results of Operations,” of the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and
results of operations of the Unrestricted Subsidiaries of the Company with substantially the same format and level of detail as is required by Rule 3-10 of Regulation S-X, promulgated pursuant to the Securities Act (as such Regulation may be
amended), with respect to the Company and the Subsidiary Guarantors separate from the Company’s Subsidiaries that are not Subsidiary Guarantors. 
  
 Delivery of such reports, information, and documents to the Trustee pursuant to the provisions of this Section 4.02 is for informational purposes only and
the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to
which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
  
 Compliance Certificates. 
  
 The Company (and each Subsidiary Guarantor to the extent that such Subsidiary Guarantor is so required under the TIA) shall deliver to the Trustee, within 90 days after the end of each fiscal year, an Officers’ Certificate stating that
a review of the activities of the Company and its Subsidiaries (or such Subsidiary Guarantor and its Subsidiaries) during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the
Company (or such Subsidiary Guarantor) has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge, the Company (or
such Subsidiary Guarantor) has kept, observed, performed and fulfilled its obligations under this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or
Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company (or such Subsidiary Guarantor) is taking or proposes to take with respect thereto) and that to
the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and
what action the Company (or such Subsidiary Guarantor) is taking or proposes to take with respect thereto. 
  
 So long as not contrary to the then current recommendations of the American Institute of Certified Public Accountants, the year-end financial statements
delivered pursuant to Section 4.02 shall be accompanied by a written statement of the Company’s independent public accountants (who shall be a firm of established national reputation) that in making the examination necessary for certification
of such financial statements, nothing has come to their attention that would lead them to believe that the Company has violated any provisions of Article Four or Article Five hereof or, if any such violation has occurred, specifying the nature and
period of existence thereof, it being understood that such accountants shall not be liable directly or indirectly to any Person for any failure to obtain knowledge of any such violation. 
  
 The Company shall, so long as any of the Notes are outstanding, deliver to the Trustee, forthwith upon any Officer becoming
aware of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 
  

 31 

 Maintenance of Office or Agency. 
  
 The Company shall maintain in the Borough of Manhattan, The City of New York, an office or agency where Notes may be
surrendered for registration of transfer or exchange or for presentation for payment and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company initially designates the Trustee, at the
Corporate Trust Office of the Trustee to be its agent for purposes of the preceding sentence. The Company shall give prompt written notice to the Trustee of any change in the location of such office or agency. If at any time the Company shall fail
to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. 
  
 The Company may also from time to time designate one or more other offices or
agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided that no such designation or rescission shall in any manner relieve the Company of its
obligation to maintain an office or agency in the Borough of Manhattan, The City of New York, for such purposes. The Company shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of
any such other office or agency. 
  
 Corporate Existence.

  
 Subject to the provisions of Article Five of this
Indenture, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and the corporate, partnership or other existence of each Restricted Subsidiary and all rights (charter
and statutory) and franchises of the Company and the Restricted Subsidiaries; provided that the Company shall not be required to preserve the existence of any Restricted Subsidiary, or any such right or franchise, if the Board of Directors of
the Company shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Restricted Subsidiaries taken as a whole and that the loss thereof would not reasonably be expected to have a
material adverse effect on the ability of the Company to perform its obligations hereunder; and provided further, that the foregoing shall not prohibit a sale, transfer or conveyance of a Restricted Subsidiary or any of its assets in
compliance with the terms of this Indenture. 
  
 Waiver of
Stay, Extension or Usury Laws. 
  
 Each of the Company and
each of the Subsidiary Guarantors covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever
enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and each of the Company and each of the Subsidiary Guarantors (to the extent that it may lawfully do so), hereby expressly waives all
benefit or advantage of any such law, and covenants that it shall not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as
though no such law has been enacted. 
  
 Payment of Taxes and
Other Claims. 
  
 The Company shall pay, and shall cause each
of its Subsidiaries to pay, prior to delinquency, any material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any
material respect to the Holders. 
  
 Business Activities.

  
 The Company shall not, and shall not permit any
Restricted Subsidiary to, engage in any business other than Permitted Businesses, except to such extent as would not be material to the Company and its Restricted Subsidiaries taken as a whole. 
  

 32 

 Limitation on Incurrence of Additional Indebtedness and Issuance of Preferred Stock. 

 
 The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, directly or indirectly, incur any Indebtedness (including Acquired Debt), and the Company shall not permit any of its Restricted Subsidiaries to issue any preferred stock; provided, however, that the Company and any
Subsidiary Guarantor may incur Indebtedness (including Acquired Debt), if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately
preceding the date on which such additional Indebtedness is incurred would have been at least 2.25 to 1, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been
incurred at the beginning of such four-quarter period. 
  
 The
first paragraph of this Section 4.09 shall not prohibit the incurrence of any of the following items of Indebtedness (collectively, “Permitted Debt”): 
  
 the incurrence by the Company or any Subsidiary Guarantor of Indebtedness under the Credit Agreement in an aggregate
principal amount at any one time outstanding (with letters of credit being deemed to have a principal amount equal to the maximum potential liability of the Company and its Restricted Subsidiaries thereunder) not to exceed $400.0 million, less the
aggregate amount of all Net Proceeds of Asset Sales applied by the Company or any Restricted Subsidiary to permanently repay any Indebtedness incurred pursuant to this clause (1) (and, in the case of any revolving credit Indebtedness, to effect a
corresponding commitment reduction thereunder) pursuant to Section 4.11 hereof; 
  
 Existing Indebtedness; 
  
 the
incurrence by the Company and the Subsidiary Guarantors of Indebtedness represented by the Notes and the related Subsidiary Guarantees to be issued on the date hereof and the Exchange Notes and the related Subsidiary Guarantees to be issued pursuant
to the Registration Rights Agreement; 
  
 the incurrence by the
Company or any Subsidiary Guarantor of Indebtedness represented by Capital Lease Obligations, mortgage financings or purchase money obligations, in each case, incurred for the purpose of financing all or any part of the purchase price or cost of
construction or improvement of property, plant or equipment used in the business of the Company or such Subsidiary Guarantor, in an aggregate principal amount, including all Permitted Refinancing Indebtedness incurred to refund, refinance or replace
any Indebtedness incurred pursuant to this clause (4), not to exceed $25.0 million at any time outstanding; 
  
 the incurrence by the Company or any Restricted Subsidiary of the Company of Permitted Refinancing Indebtedness in exchange for, or the net proceeds of
which are used to renew, refund, refinance, replace, defease or discharge Indebtedness (other than intercompany Indebtedness) that was permitted by this Indenture to be incurred under the first paragraph of this Section 4.09 or clauses (2), (3),
(4), (5) or (8) of this paragraph; 
  
 the incurrence by the
Company or any of its Restricted Subsidiaries of intercompany Indebtedness owing to and held by the Company or any of its Wholly Owned Restricted Subsidiaries; provided, however, that: 
  
 if the Company or any Subsidiary Guarantor is the obligor on such
Indebtedness, such Indebtedness must be unsecured and expressly subordinated to the prior payment in full in cash of all Obligations with respect to the Notes, in the case of the Company, or the Subsidiary Guarantee, in the case of a Subsidiary
Guarantor; 
  
 (i) any subsequent issuance or transfer of Equity
Interests that results in any such Indebtedness being held by a Person other than the Company or a Wholly Owned Restricted Subsidiary thereof and (ii) any sale or other transfer of any such Indebtedness to a Person that is not either the Company or
a Wholly Owned Restricted Subsidiary thereof, shall be deemed, in each case, to constitute an incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that was not permitted by this clause (6); and

  
 Indebtedness owed to the Company or any Subsidiary Guarantor
must be evidenced by an unsubordinated promissory note, unless the obligor under such Indebtedness is the Company or a Subsidiary Guarantor; 
  

 33 

 the Guarantee by the Company or any Subsidiary Guarantor of Indebtedness of the Company or a Restricted
Subsidiary of the Company that was permitted to be incurred by another provision of this covenant; provided that, if the Indebtedness being guaranteed is subordinated to or pari passu with the Notes, then the Guarantee shall be
subordinated or pari passu to the same extent as the Indebtedness Guaranteed; 
  
 the incurrence by the Company or any Subsidiary Guarantor of additional Indebtedness in an aggregate principal amount (or accreted value, as applicable) at any time outstanding, including all Permitted Refinancing
Indebtedness incurred to refund, refinance or replace any Indebtedness incurred pursuant to this clause (8), not to exceed $25.0 million; 
  
 (i) Indebtedness of the Company or any of its Restricted Subsidiaries under agreements providing for indemnification, adjustment of purchase price or
similar obligations, or Guarantees or letters of credit, surety bonds or performance bonds securing any obligations of the Company or any of its Restricted Subsidiaries pursuant to such agreements, in any case incurred in connection with the
acquisition or disposition of any business or assets, so long as the principal amount does not exceed the gross proceeds actually received by the Company or any Restricted Subsidiary in connection with such disposition, (ii) Indebtedness of the
Company of any its Restricted Subsidiaries represented by letters of credit for the account of the Company or such Restricted Subsidiary, as the case may be, issued in the ordinary course of business of the Company or such Restricted Subsidiary to
provide security for workers’ compensation claims or payment obligations in connection with self-insurance or similar requirements in the ordinary course of business and other Indebtedness with respect to worker’s compensation claims,
self-insurance obligations, bankers’ acceptances, performance, surety and similar bonds and completion guarantees provided by the Company or any of its Restricted Subsidiaries in the ordinary course of business, (iii) the incurrence by the
Company or any of its Restricted Subsidiaries of Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business,
provided, however, that such Indebtedness is extinguished within five Business Days of its incurrence and (iv) the incurrence by the Company of Indebtedness to the extent that the net proceeds thereof are promptly deposited to defease or to
satisfy and discharge the Notes; 
  
 Indebtedness of the Company
to the extent that the net proceeds thereof are promptly deposited to defease the Notes in accordance with the provisions of Article Eight herein; and 
  
 Indebtedness of a Restricted Subsidiary incurred and outstanding on or prior to the date on which such Restricted Subsidiary was acquired by the Company
(other than Indebtedness or Capital Stock incurred in connection with, or to provide all or any portion of the funds or credit support utilized to consummate, the transaction or series of related transactions pursuant to which such Restricted
Subsidiary became a Restricted Subsidiary or was acquired by the Company) and Permitted Refinancing Indebtedness incurred in respect thereof; provided, however, that after giving effect to the incurrence of such Indebtedness, the Company
would be able to incur an additional $1.00 of Indebtedness pursuant to the first paragraph of this Section 4.09. 
  
 For purposes of determining compliance with this Section 4.09, if any proposed Indebtedness meets the criteria of more than one of the categories of
Permitted Debt described in clauses (1) through (11) above, or is entitled to be incurred pursuant to the first paragraph of this Section 4.09, the Company shall be permitted to divide and classify an item of Indebtedness in more than one of the
types of Indebtedness described above on the date of its incurrence, or later reclassify all or a portion of such item of Indebtedness in any manner that complies with this Section 4.09. Indebtedness under the Credit Agreement outstanding on the
date on which Notes are first issued under this Indenture shall be deemed to have been incurred on such date in reliance on the exception provided by clause (1) of the definition of Permitted Debt. 
  
 Notwithstanding any other provision of this Section 4.09, the maximum amount
of Indebtedness that may be incurred pursuant to this Section 4.09 shall not be deemed to be exceeded with respect to any outstanding Indebtedness due solely to the result of fluctuations in the exchange rates of currencies. 
  

 34 

 Limitation on Restricted Payments. 
  
 (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries (or, in the case of clause (3) below, any
Subsidiary of the Company) to, directly or indirectly: 
  
 (1) declare or pay any dividend or make any other payment or distribution on account of the Company’s or any of its Restricted Subsidiaries’ Equity Interests (including, without limitation, any payment in connection with any
merger or consolidation involving the Company or any of its Restricted Subsidiaries) or to the direct or indirect holders of the Company’s or any of its Restricted Subsidiaries’ Equity Interests in their capacity as such (other than
dividends or distributions payable (i) in Equity Interests (other than Disqualified Stock) of the Company or (ii) to the Company or a Restricted Subsidiary of the Company); 
  
 (2) purchase, redeem or otherwise acquire or retire for value (including, without limitation, in connection
with any merger or consolidation involving the Company) any Equity Interests of the Company or any Subsidiary of the Company (other than any such Equity Interests owned by the Company or any of its Restricted Subsidiaries); 
  
 (3) make any payment on or with respect to, or purchase,
redeem, defease or otherwise acquire or retire for value any Indebtedness that is subordinated to the Notes or any Subsidiary Guarantee, except (i) a payment of interest or principal at the Stated Maturity thereof and (ii) to the extent made by an
Unrestricted Subsidiary with proceeds from any Investments in such Unrestricted Subsidiary pursuant to clauses (12) or (13) of the definition of “Permitted Investments” herein; or 
  
 (4) make any Restricted Investment (all such payments and
other actions set forth in clauses (1) through (4) of this Section 4.10(a) being collectively referred to as “Restricted Payments”), 
  

	unless,	at the time of and after giving effect to such Restricted Payment: 

  
 no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof; 
  
 the Company would, at the time of such Restricted Payment and after giving
pro forma effect thereto as if such Restricted Payment had been made at the beginning of the applicable four-quarter period, have been permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set
forth in the first paragraph of Section 4.09; 
  
 such Restricted
Payment, together with the aggregate amount of all other Restricted Payments made by the Company and its Restricted Subsidiaries after the date of this Indenture (excluding Restricted Payments permitted by clauses (2), (3), (4), (5), (11) and (12)
of the next succeeding paragraph (b)), is less than the sum, without duplication, of: 
  
 (a) 50% of the cumulative Consolidated Net Income of the Company for the period (taken as one accounting period) from the beginning of the
first fiscal quarter commencing after the date of this Indenture to the end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, if such
Consolidated Net Income for such period is a deficit, less 100% of such deficit); plus 
  
 (b) 100% of (i) the aggregate net cash proceeds and (ii) the fair market value of property other than cash (provided that where the
value of such property 

  

 35 

 
exceeds $10.0 million, the fair market value of such property shall be determined by the Board of Directors based upon an opinion or appraisal by an
independent accounting, appraisal or investment banking firm of national standing), in each case, received by the Company since the date of this Indenture as a contribution to its common equity capital or from the issue or sale of Equity Interests
of the Company (other than Disqualified Stock) or from the issue or sale of convertible or exchangeable Disqualified Stock or convertible or exchangeable debt securities of the Company that have been converted into or exchanged for such Equity
Interests (other than Equity Interests (or Disqualified Stock or debt securities) sold to a Subsidiary of the Company); plus 
  
 (c) to the extent that any Restricted Investment that was made after the date of this Indenture is sold for cash or otherwise liquidated
or repaid for cash, the lesser of (i) the cash return of capital with respect to such Restricted Investment (less the cost of disposition, if any) and (ii) the initial amount of such Restricted Investment; provided, however, that no
amount shall be included under this clause (c) to the extent it is already included in Consolidated Net Income; plus 
  
 (d) the net reduction in Restricted Investments in any Person resulting from dividends, loan repayments or other transfers of property to
the Company or any Restricted Subsidiary; provided that the value attributed to any such transferred property (other than cash) pursuant to this clause (d) shall, where such value exceeds $10.0 million, be determined by the Board of Directors
based upon an opinion or appraisal by an independent accounting, appraisal or investment banking firm of national standing. 
  
 (b) So long as no Default has occurred and is continuing or would be caused thereby, the preceding provisions shall not prohibit: 
  
 (2) the payment of any dividend within 60 days after the
date of declaration thereof, if at said date of declaration such payment would have complied with the provisions of this Indenture; 
  
 (3) the redemption, repurchase, retirement, defeasance or other acquisition of any subordinated Indebtedness of the Company or any
Subsidiary Guarantor or of any Equity Interests of the Company in exchange for, or out of the net cash proceeds of the substantially concurrent sale (other than to a Subsidiary of the Company) of, Equity Interests of the Company (other than
Disqualified Stock); provided that the amount of any such net cash proceeds that are utilized for any such redemption, repurchase, retirement, defeasance or other acquisition shall be excluded from clause (3)(b) of the preceding paragraph
(a); 
  
 (4) the defeasance, redemption,
repurchase or other acquisition of subordinated Indebtedness of the Company or any Subsidiary Guarantor with the net cash proceeds from an incurrence of Permitted Refinancing Indebtedness; 
  
 (5) the payment of any dividend by a Restricted Subsidiary
of the Company to the holders of its common Equity Interests on a pro rata basis; 
  
 (6) Investments acquired as a capital contribution to, or in exchange for, or out of the net cash proceeds of a substantially concurrent
offering of, Capital Stock (other than Disqualified Stock) of the Company; provided that the amount of any such net cash proceeds that are utilized for any such acquisition or exchange shall be excluded from clause (3)(b) of the preceding
paragraph (a); 
  

 36 

 (7) the repurchase of Capital Stock deemed to occur upon the exercise of options or
warrants if such Capital Stock represents all or a portion of the exercise price thereof; 
  
 (8) dividends paid on shares of Disqualified Stock of the Company issued in accordance with Section 4.09 hereof; 
  
 (9) the payment of any dividends by the Company on
outstanding shares of its Common Stock in an aggregate amount not to exceed $12.75 million in any twelve-month period; 
  
 (10) the repurchase, redemption or other acquisition for value by the Company of shares of its Common Stock during the twelve months
following the Issue Date; provided that the aggregate consideration paid for all such repurchased, redeemed or acquired shares of Common Stock of the Company shall not exceed $25.0 million; provided further that at the time of each
such repurchase, redemption or other acquisition the Consolidated Cash Flow of the Company for the preceding four fiscal quarters for which internal quarterly financial statements are available is not less than $146.0 million; 
  
 (11) the repurchase, redemption or other acquisition or
retirement for value of any Equity Interests of the Company held by any current or former employee or director of the Company (or any of its Restricted Subsidiaries) pursuant to the terms of any employee equity subscription agreement, stock option
agreement or similar agreement entered into in the ordinary course of business, the aggregate purchase price paid (excluding the cancellation of debt owing by such individual) for all such repurchased, redeemed, acquired or retired Equity Interests
in any calendar year to be in an amount not to exceed $1.5 million; provided that the Company may carry over and make in subsequent calendar years, in addition to the $1.5 million permitted hereunder for such calendar year, the amount of such
repurchases, redemptions, acquisitions or retirements for value permitted to be made, but not made, in any preceding calendar years; provided further that the Company may, with respect to any such repurchases, redemptions, acquisitions or
retirements for value of Equity Interests held by Tilman J. Fertitta to be made in any one calendar year, aggregate the $1.5 million amount available to the Company with respect to each calendar year under this clause (10) from the Issue Date
through the final maturity of the Notes and apply all or a portion of such aggregate amount (less the aggregate purchase price of all repurchases, redemptions, acquisitions or retirements for value made in any previous calendar year pursuant to this
clause (10)) to repurchases, redemptions, acquisitions or retirements for value of Equity Interests held by the Company’s Chief Executive Officer to be made in such calendar year; 
  
 (12) the repurchase, redemption or other acquisition or retirement for value of any outstanding Equity
Interests of any of the Restricted Subsidiaries of the Company; provided that the aggregate purchase price paid for all such repurchased, redeemed, acquired or retired Equity Interests shall not exceed $10.0 million; provided further
that to the extent the holder of any such Equity Interests is an Affiliate of the Company (other than a Restricted Subsidiary), such repurchase, redemption, acquisition or retirement for value complies with Section 4.14 hereof; or 
  
 (13) other Restricted Payments not otherwise permitted
pursuant to this Section 4.10 in an aggregate amount not to exceed $25.0 million. 
  
 The amount of all Restricted Payments (other than cash) shall be the fair market value on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued to or by the Company or
such Subsidiary, as the case may be, pursuant to the Restricted Payment. The fair market value of any assets or securities that are required to be valued by this Section 4.10 shall be determined by the Board of Directors, as evidenced by a Board
Resolution. The Board of Directors’ determination must be based upon an opinion or appraisal issued by an independent accounting, appraisal or investment banking firm of national standing if the fair market value exceeds $10.0 million. Not
later than the date of making any Restricted Payment, the Company shall deliver to the Trustee an Officers’ Certificate stating that such Restricted Payment is permitted and setting forth the basis upon which the calculations required by this
Section 4.10 were computed, together with a copy of any fairness opinion or appraisal required by this Indenture. 
  

 37 

 Limitation on Sale of Assets. 
  
 The Company shall not and shall not permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless:

  
 the Company (or the Restricted Subsidiary, as the case may be)
receives consideration at the time of such Asset Sale at least equal to the fair market value of the assets or Equity Interests issued or sold or otherwise disposed of; 
  
 such fair market value shall be determined by (a) the Chief Executive Officer of the Company, where such value is less than
$5.0 million and (b) the Company’s Board of Directors, as evidenced by a Board Resolution, where such value is $5.0 million or greater and, in each case, such determination shall be set forth in an Officers’ Certificate delivered to the
Trustee; and 
  
 at least 75% of the consideration therefor
received by the Company or such Restricted Subsidiary is in the form of cash, Cash Equivalents or Replacement Assets or a combination of these. For purposes of this provision, each of the following shall be deemed to be cash: 
  
 (a) any liabilities (as shown on the Company’s or such
Restricted Subsidiary’s most recent balance sheet) of the Company or any Restricted Subsidiary (other than contingent liabilities and liabilities that are by their terms pari passu or subordinated to the Notes or any Subsidiary Guarantee
and liabilities that are owed to the Company or any Affiliate of the Company) that are assumed by the transferee of any such assets pursuant to a customary written novation agreement that releases the Company or such Restricted Subsidiary from
further liability; and 
  
 (b) any securities,
notes or other obligations received by the Company or any such Restricted Subsidiary from such transferee that are contemporaneously (subject to ordinary settlement periods) converted by the Company or such Restricted Subsidiary into cash (to the
extent of the cash received in that conversion). 
  
 Within 360
days after the receipt of any Net Proceeds from an Asset Sale, the Company may apply such Net Proceeds at its option: 
  
 (1) to repay or purchase unsubordinated Secured Indebtedness and, if the Secured Indebtedness repaid is revolving credit Indebtedness, to
correspondingly reduce commitments with respect thereto; or 
  
 (2) to purchase Replacement Assets or enter into a binding agreement to do so; provided that such purchase is consummated or capital expenditure is completed no later than 60 days after the end of such 360-day
period. 
  
 Pending the final application of any such Net Proceeds, the Company
may temporarily reduce revolving credit borrowings or otherwise invest such Net Proceeds in any manner that is not prohibited by this Indenture. 
  
 Any Net Proceeds from Asset Sales that are not applied or invested as provided in the preceding paragraph shall constitute “Excess
Proceeds.” Within 30 days after the aggregate amount of Excess Proceeds exceeds $10.0 million, the Company shall make an “Asset Sale Offer” to all Holders, and all holders of other Indebtedness that is pari
passu with the Notes or any Subsidiary Guarantee containing provisions similar to those set forth in this Indenture with respect to offers to purchase with the proceeds of sales of assets, to purchase the maximum principal amount of Notes and
such other pari passu Indebtedness that may be purchased out of the Excess Proceeds. The 

  

 38 

 
offer price in any Asset Sale Offer shall be equal to 100% of the principal amount of the Notes purchased plus accrued and unpaid interest and additional
interest, if any, to the date of purchase, and shall be payable in cash. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the Company may use such Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If
the aggregate principal amount of Notes and such other pari passu Indebtedness tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and such other pari passu Indebtedness to be
purchased on a pro rata basis based on the principal amount of Notes and such other pari passu Indebtedness tendered. Upon completion of each Asset Sale Offer, the amount of Excess Proceeds shall be reset at zero. 
  
 The Asset Sale Offer shall remain open for a period of 20 Business
Days or such longer period as may be required by applicable law (the “Offer Period”). On the Purchase Date (as defined below), the Company shall purchase the principal amount of Notes required to be purchased pursuant to the
immediately preceding paragraph above (the “Offer Amount”) or, if less than the Offer Amount has been tendered, all Notes tendered in response to the Asset Sale Offer. Payment for any Notes so purchased shall be made in the same
manner as interest payments are made. 
  
 If the Purchase Date is
on or after an interest record date and on or before the related interest payment date, any accrued and unpaid interest and additional interest, if any, shall be paid to the Person in whose name a Note is registered at the close of business on such
record date, and no additional interest shall be payable to Holders who tender Notes pursuant to the Asset Sale Offer. 
  
 Within 30 days after the aggregate amount of Excess Proceeds exceeds $10.0 million, the Company shall send, by first class mail, a notice to the Trustee
and each of the Holders. The notice shall contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Sale Offer. The Asset Sale Offer shall be made to all Holders. The notice, which shall govern the
terms of the Asset Sale Offer, shall state: 
  
 (14) that the Asset Sale Offer is being made pursuant to this Section 4.11 and the length of time the Asset Sale Offer shall remain open; 
  
 the Offer Amount, the purchase price and the purchase date (which shall be no earlier than 20 Business Days nor later than 30 Business Days from the date
such notice is mailed, other than as may be required by law, the “Purchase Date”); 
  
 that any Note not tendered or accepted for payment shall continue to accrue interest and additional interest, if any; 
  
 that, unless the Company defaults in making such payment, any Note (or
portion thereof) accepted for payment pursuant to the Asset Sale Offer shall cease to accrue interest and additional interest, if any, after the Purchase Date; 
  

that Holders electing to have a Note purchased pursuant to an Asset Sale Offer may elect to have Notes purchased in integral multiples of $1,000 only;

  
 that Holders electing to have a Note purchased pursuant to any
Asset Sale Offer shall be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, or transfer such Holder’s interest in the Note by book-entry transfer, to the
Paying Agent at the address specified in the notice at least three days before the Purchase Date; 
  
 that Holders shall be entitled to withdraw their election if the Paying Agent receives, not later than the expiration of the Offer Period, a facsimile
transmission or letter setting forth the name of the Holder, the principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased; 
  
 that, if the aggregate amount of Notes surrendered by Holders exceeds the
Offer Amount, the Trustee shall, subject to the provisions of this Section 4.11, select the Notes to be purchased on a pro rata basis (with such 

  

 39 

 
adjustments as may be deemed appropriate by the Trustee so that only Notes in denominations of $1,000, or integral multiples thereof, shall be purchased);
and 
  
 that Holders whose Notes were purchased only in part shall
be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer). 
  
 On the Purchase Date, the Company shall, to the extent lawful and subject to the provisions of this Section 4.11, accept for payment on a pro rata basis
to the extent necessary, the Offer Amount of Notes (or portions thereof) tendered pursuant to the Asset Sale Offer, or if less than the Offer Amount has been tendered, all Notes tendered, and shall deliver to the Trustee an Officers’
Certificate stating that such Notes (or portions thereof) were accepted for payment by the Company in accordance with the terms of this Section 4.11. The Paying Agent shall promptly (but in any case not later than three Business Days after the
Purchase Date) mail or deliver to each tendering Holder an amount equal to the purchase price of Notes tendered by such Holder, as the case may be, and accepted by the Company for purchase, and the Company shall promptly issue a new Note. The
Trustee, upon written request from the Company shall authenticate and mail or deliver such new Note to such Holder, in a principal amount at maturity equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be
promptly mailed or delivered by the Company to the respective Holder thereof. The Company shall publicly announce the results of the Asset Sale Offer on the Purchase Date. 
  
 The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder to the extent such laws and regulations are applicable in connection with each repurchase of Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the
Asset Sales provisions of this Indenture, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under the Asset Sale provisions of this Indenture by virtue of such
conflict. 
  
 Limitation on Liens Securing Indebtedness.

  
 The Company shall not, and shall not permit any of its
Restricted Subsidiaries to, create, incur, assume or otherwise cause or suffer to exist or become effective any Lien of any kind (other than Permitted Liens) upon any of their property or assets, now owned or hereafter acquired, unless all payments
due under this Indenture and the Notes are secured on an equal and ratable basis with (or, in the case of Indebtedness that is subordinated in right of payment to the Notes, prior to) the obligations so secured until such time as such obligations
are no longer secured by a Lien. 
  
 Dividend and Other Payment
Restrictions Affecting Restricted Subsidiaries. 
  
 The
Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create or permit to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary of the Company
to: 
  
 pay dividends or make any other distributions on its
Capital Stock to the Company or any of its Restricted Subsidiaries, or with respect to any other interest or participation in, or measured by, its profits, or pay any indebtedness owed to the Company or any of its Restricted Subsidiaries;

  
 make loans or advances to the Company or any of its Restricted
Subsidiaries; or 
  
 sell, lease or otherwise transfer any of its
properties or assets to the Company or any of its Restricted Subsidiaries. 
  
 However, the preceding restrictions shall not apply to encumbrances or restrictions existing under, by reason of or with respect to: 
  
 (15) the Credit Agreement, Existing Indebtedness or any other agreements in effect on the date of this
Indenture and any amendments, modifications, restatements, renewals, extensions, supplements, 

  

 40 

 
refundings, replacements or refinancings thereof, provided that the encumbrances and restrictions in any such amendments, modifications, restatements,
renewals, extensions, supplements, refundings, replacements or refinancings are no more restrictive, taken as a whole, with respect to such dividend or other payment restrictions than those in effect on the date of this Indenture; 
  
 this Indenture, the Notes and the Subsidiary Guarantees; 
  
 applicable law; 
  
 any Person, or the property or assets of such Person, acquired by the Company or any of its Restricted Subsidiaries,
existing at the time of such acquisition and not incurred in connection with or in contemplation of such acquisition, which encumbrance or restriction is not applicable to any Person or the properties or assets of any Person, other than the Person,
or the property or assets of such Person, so acquired and any amendments, modifications, restatements, renewals, extensions, supplements, refundings, replacements or refinancings thereof, provided that the encumbrances and restrictions in any
such amendments, modifications, restatements, renewals, extensions, supplements, refundings, replacements or refinancings are no more restrictive, taken as a whole, with respect to such dividend or other payment restrictions than those in effect on
the date of the acquisition; 
  
 in the case of clause (3) of the
first paragraph of this Section 4.13: 
  
 (a)
restricting in a customary manner the subletting, assignment or transfer of any property or asset that is a lease, license, conveyance or contract or similar property or asset, 
  
 (b) existing by virtue of any transfer of, agreement to transfer, option or right with respect to, or Lien
on, any property or assets of the Company or any Restricted Subsidiary not otherwise prohibited by this Indenture, or 
  
 (c) arising or agreed to in the ordinary course of business, not relating to any Indebtedness, and that do not, individually or in the
aggregate, detract from the value of property or assets of the Company or any Restricted Subsidiary in any manner material to the Company or any Restricted Subsidiary; 
  
 any agreement for the sale or other disposition of all or substantially all of the Capital Stock of, or property and assets
of, a Restricted Subsidiary; 
  
 Permitted Refinancing
Indebtedness, provided that the restrictions contained in the agreements governing such Permitted Refinancing Indebtedness are no more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being
refinanced; or 
  
 the terms of any Indebtedness or any agreement
pursuant to which such Indebtedness was issued if: 
  
 the
encumbrance or restriction applies only in the event of a payment default or a default with respect to a financial covenant contained in such Indebtedness or agreement, 
  
 the encumbrance or restriction is not materially more disadvantageous to the Holders than is customary in comparable
financings (as determined by the Company in good faith), and 
  
 (c) the Company determines that any such encumbrance or restriction will not materially affect the Company’s ability to make principal or interest payments on the Notes. 
  

 41 

 Limitation on Transactions with Affiliates. 
  
 The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into, make, amend, renew or extend any transaction, contract, agreement,
understanding, loan, advance or Guarantee with, or for the benefit of, any Affiliate (each, an “Affiliate Transaction”), unless: 
  
 such Affiliate Transaction is on terms that are no less favorable to the Company or the relevant Restricted Subsidiary than those that would have been
obtained in a comparable arm’s-length transaction by the Company or such Restricted Subsidiary with a Person that is not an Affiliate of the Company; and 
  

the Company delivers to the Trustee: 
  
 (a) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of
$5.0 million, a Board Resolution of the Board of Directors of the Company and an Officers’ Certificate certifying that such Affiliate Transaction or series of related Affiliate Transactions complies with this Section 4.14 and that such
Affiliate Transaction or series of related Affiliate Transactions has been approved by a majority of the disinterested members of the Board of Directors of the Company; and 
  
 (b) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving
aggregate consideration in excess of $15.0 million, an opinion as to the fairness to the Company or such Restricted Subsidiary of such Affiliate Transaction or series of related Affiliate Transactions from a financial point of view issued by an
independent accounting, appraisal or investment banking firm of national standing or a comparable report, certification or recommendation by an executive compensation consulting firm of national standing, as applicable. 
  
 The following items shall not be deemed to be Affiliate Transactions and,
therefore, shall not be subject to the provisions of the prior paragraph: 
  
 (16) transactions between or among the Company and/or its Restricted Subsidiaries; 
  
 payment of reasonable and customary directors fees and reasonable and customary indemnification and similar arrangements; 
  
 Restricted Payments that are permitted by Section 4.10; 
  
 any sale of Capital Stock (other than Disqualified Stock) of the Company; and

  
 transactions entered into under any agreement existing on the
Issue Date (and disclosed in the Offering Memorandum or disclosed in or filed as an exhibit to the Company’s filings with the Commission pursuant to the Exchange Act through and including the Issue Date) and any amendments or modifications
thereto or replacements or renewals thereof, so long as the Board of Directors of the Company, in good faith, shall have approved the terms of such amendment, modification, replacement or renewal and deemed such amendment, modification, replacement
or renewal, taken as a whole, not to be materially more adverse to the interests of the Holders than the terms of such agreement as in effect on the Issue Date. 
  

 42 

 [intentionally omitted]. 
  
 Change of Control. 
  
 If a Change of Control occurs, each Holder of Notes shall have the right to require the Company to repurchase all or any part (equal to $1,000 or an
integral multiple thereof) of such Holder’s Notes pursuant to the offer described below (the “Change of Control Offer”) at an offer price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid
interest thereon to the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control, the Company shall mail a notice to each Holder describing the transaction or transactions that constitute
the Change of Control and stating (1) that the Change of Control Offer is being made pursuant to this Section 4.16 and that all Notes tendered will be accepted for payment; (2) the purchase price and the purchase date, which shall be no earlier than
30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”); (3) that any Note not tendered shall continue to accrue interest; (4) that, unless the Company defaults in the payment of
the Change of Control Payment, all Notes accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control Payment Date; (5) that Holders electing to have any Notes purchased pursuant to a Change
of Control Offer shall be required to surrender the Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Notes completed, to the Paying Agent at the address specified in the notice prior to the close of
business on the third Business Day preceding the Change of Control Payment Date; (6) that Holders shall be entitled to withdraw their election if the Paying Agent receives, not later than the close of business on the second Business Day preceding
the Change of Control Payment Date, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes delivered for purchase, and a statement that such Holder is withdrawing his election to have the Notes
purchased; and (7) that Holders whose Notes are being purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to $1,000 in principal
amount or an integral multiple thereof. The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection
with the repurchase of the Notes as a result of a Change of Control. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Indenture relating to such Change of Control Offer, the Company shall
comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 4.16 by virtue of such compliance. 
  
 By 12:00 p.m. (noon) Eastern Time on the Change of Control Payment Date, the Company shall, to the extent lawful, (1) accept
for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer, (2) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions thereof so tendered, and (3)
deliver or cause to be delivered to the Trustee the Notes so accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the Company. The Paying Agent shall promptly
mail or wire transfer to each Holder of Notes so tendered the Change of Control Payment for such Notes, and the Trustee shall promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal
amount to any unpurchased portion of the Notes surrendered, if any; provided that each such new Note shall be in a principal amount of $1,000 or an integral multiple thereof. The Company shall publicly announce the results of the Change of
Control Offer on or as soon as practicable after the Change of Control Payment Date. 
  
 If a Change of Control occurs, this Section 4.16 shall be applicable notwithstanding Article Three hereof. 
  
 Notwithstanding anything to the contrary in this Section 4.16, the Company shall not be required to make a Change of Control Offer upon a Change of
Control if (i) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.16 and all other provisions of this Indenture applicable to a Change of Control
Offer made by the Company and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer, or (ii) the Company effects Legal Defeasance or Covenant Defeasance of the Notes under Article Eight of this Indenture prior to
the occurrence of such Change of Control or otherwise discharges this Indenture under Article Eight of this Indenture. 
  

 43 

 Designation of Restricted and Unrestricted Subsidiaries. 
  
 The Board of Directors of the Company may designate any Restricted
Subsidiary of the Company to be an Unrestricted Subsidiary; provided that: 
  
 any Guarantee by the Company or any Restricted Subsidiary of the Company of any Indebtedness of the Subsidiary being so designated shall be deemed to be an incurrence of Indebtedness by the Company or such Restricted
Subsidiary (or both, if applicable) at the time of such designation, and such incurrence of Indebtedness would be permitted under Section 4.09 hereof; 
  
 the aggregate fair market value of all outstanding Investments owned by the Company and its Restricted Subsidiaries in the Subsidiary being so designated
(including any Guarantee by the Company or any Restricted Subsidiary of the Company of any Indebtedness of such Subsidiary) shall be deemed to be a Restricted Investment made as of the time of such designation and that such Investment would be
permitted under Section 4.10 hereof; 
  
 such Subsidiary does not
own any Equity Interests of, or hold any Liens on any property of, the Company or any Restricted Subsidiary thereof; and 
  
 the Subsidiary being so designated: 
  
 (a) is not party to any agreement, contract, arrangement or understanding with the Company or any Restricted Subsidiary of the Company
unless the terms of any such agreement, contract, arrangement or understanding are no less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time from Persons who are not Affiliates of the Company;

  
 (b) is a Person with respect to which neither
the Company nor any of its Restricted Subsidiaries has any direct or indirect obligation (i) to subscribe for additional Equity Interests or (ii) to maintain or preserve such Person’s financial condition or to cause such Person to achieve any
specified levels of operating results; and 
  
 (c) has at least one director on its Board of Directors that is not a director or officer of the Company or any of its Restricted Subsidiaries or has at least one executive officer that is not a director or officer of the Company or any of
its Restricted Subsidiaries; and 
  
 no Default or Event of
Default would be in existence following such designation. 
  
 Any
designation of a Restricted Subsidiary of the Company as an Unrestricted Subsidiary shall be evidenced to the Trustee by filing with the Trustee a certified copy of the Board Resolution giving effect to such designation and an Officers’
Certificate certifying that such designation complied with the preceding conditions and was permitted by this Indenture. If, at any time, any Unrestricted Subsidiary would fail to meet any of the preceding requirements described in clause (4) above,
it shall thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness, Investments, or Liens on the property, of such Subsidiary shall be deemed to be incurred by a Restricted Subsidiary of the Company as of
such date and, if such Indebtedness, Investments or Liens are not permitted to be incurred as of such date under this Indenture, the Company shall be in default. 
  
 The Board of Directors of the Company may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary of
the Company; provided that: 
  
 (17) such designation shall be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of the Company of any outstanding Indebtedness of such Unrestricted Subsidiary and such designation shall only be permitted if such
Indebtedness is permitted under Section 4.09 hereof, calculated on a pro forma basis as if such designation had occurred at the beginning of the four-quarter reference period; 
  

 44 

 all outstanding Investments owned by such Unrestricted Subsidiary shall be deemed to be made as of the
time of such designation and such Investments shall only be permitted if such Investments would be permitted under Section 4.10 hereof; 
  
 all Liens on any of the properties of such Unrestricted Subsidiary existing at the time of such designation would be permitted under Section 4.12 hereof;
and 
  
 no Default or Event of Default would be in existence
following such designation. 
  
 Payments for Consent.

  
 The Company shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, pay or cause to be paid any consideration to or for the benefit of any Holder of Notes for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this
Indenture or the Notes unless such consideration is offered to all Holders and is paid to all Holders that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or agreement.

  
 Limitations on Issuances of Guarantees by Restricted
Subsidiaries; Release of Subsidiary Guarantees 
  
 If the
Company acquires or creates a Domestic Subsidiary after the date of this Indenture, then that newly acquired or created Subsidiary shall be a Restricted Subsidiary, and shall become a Subsidiary Guarantor and execute a supplemental indenture and
deliver to the Trustee an opinion of counsel to the effect that the supplemental indenture has been duly authorized, executed and delivered by such Domestic Subsidiary and constitutes a valid and binding obligation of such Domestic Subsidiary,
enforceable against such Domestic Subsidiary in accordance with its terms (subject to customary exceptions); provided, however, that the foregoing shall not apply to Subsidiaries that have properly been designated as Unrestricted Subsidiaries
in accordance with this Indenture for so long as they continue to constitute Unrestricted Subsidiaries. 
  
 The Company shall not permit any of its Restricted Subsidiaries, directly or indirectly, to Guarantee or pledge any assets to secure the payment of any
other Indebtedness of the Company, unless such Restricted Subsidiary is a Subsidiary Guarantor or simultaneously executes and delivers a supplemental indenture providing for the Guarantee of the payment of the Notes by such Restricted Subsidiary,
which Subsidiary Guarantee shall be senior to or pari passu with such Subsidiary’s Guarantee of or pledge to secure such other Indebtedness. The form of the Subsidiary Guarantee is attached hereto as Exhibit E. 
  
 The Subsidiary Guarantee of a Subsidiary Guarantor shall be released:

  
 (18) in connection with any sale or other
disposition of (a) all of the Capital Stock of a Subsidiary Guarantor (including by consolidation, merger, issuance, liquidation, dissolution or otherwise) or (b) all or substantially all of the assets of such Subsidiary Guarantor, in each case, by
the Company or any of its Subsidiaries to a Person that is not (either before or after giving effect to such transaction) an Affiliate of the Company, if the sale or other disposition complies with Section 4.11 hereof; 
  
 (19) solely in the case of a Guarantee created pursuant to
Section 4.19(b) hereof, in connection with the release or discharge of the Guarantee which resulted in the creation of such Subsidiary Guarantee pursuant to this Section 4.19, except a discharge or release by, or as a result of, a payment under such
Guarantee; or 
  
 (20) if the Company properly
designates any Restricted Subsidiary that is a Subsidiary Guarantor as an Unrestricted Subsidiary. 
  
 Upon the occurrence of any of the foregoing events described in this Section 4.19(c), the Subsidiary Guarantor shall be released from its Subsidiary
Guarantee upon receipt by the Trustee of a request by the Company accompanied by an Officer’s Certificate and an Opinion of Counsel certifying that all conditions specified in this Indenture for such release have been satisfied in accordance
with the provisions of this Indenture. Upon receipt of 

  

 45 

 
the items specified in the preceding sentence, the Trustee shall deliver to the Company an appropriate instrument evidencing such release. Any Subsidiary
Guarantee not so released remains liable for the full amount of principal of and interest on the Notes as provided in Article Eleven. 
  
 Limitation on Sale and Leaseback Transactions. 
  
 The Company shall not, and shall not permit any of its Restricted Subsidiaries to, enter into any sale and leaseback transaction; provided that the
Company or any Restricted Subsidiary may enter into a sale and leaseback transaction if: 
  
 the Company or that Restricted Subsidiary, as applicable, could have incurred Indebtedness in an amount equal to the Attributable Debt relating to such sale and leaseback transaction under Section 4.09 hereof;

  
 the gross cash proceeds of that sale and leaseback transaction
are at least equal to the fair market value, as determined in good faith by the Board of Directors, as evidenced by a Board Resolution and set forth in an Officers’ Certificate delivered to the Trustee, of the property that is the subject of
that sale and leaseback transaction; and 
  
 the transfer of
assets in that sale and leaseback transaction is permitted by, and the Company applies the proceeds of such transaction in compliance with, Section 4.11 hereof. 
  

Limitation on Issuance and Sale of Equity Interests of Restricted Subsidiaries. 
  
 The Company shall not transfer, convey, sell, lease or otherwise dispose of, and shall not permit any of its Restricted
Subsidiaries to, issue, transfer, convey, sell, lease or otherwise dispose of any Equity Interests in any Restricted Subsidiary of the Company to any Person (other than the Company or a Wholly Owned Restricted Subsidiary of the Company and, if
necessary, shares of its Capital Stock constituting directors’ qualifying shares or issuances of shares of Capital Stock of foreign Restricted Subsidiaries to foreign nationals, to the extent required by applicable law), except: 
  
 if, immediately after giving effect to such issuance, transfer, conveyance,
sale, lease or other disposition, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary and any Investment in such Person remaining after giving effect to such issuance or sale would have been permitted under Section 4.10
hereof if made on the date of such issuance or sale; and 
  
 the
Company or such Restricted Subsidiary complies with Section 4.11 hereof. 
  
 Limitation on Subordinated Indebtedness. 
  
 The Company shall not incur any Indebtedness that is subordinate or junior in right of payment to any other Indebtedness of the Company unless it is made expressly subordinate in right of payment to the Notes to the
same extent and in the same manner as such Indebtedness is subordinated to such other Indebtedness. No Subsidiary Guarantor shall incur any Indebtedness that is subordinate or junior in right of payment to any other Indebtedness of such Subsidiary
Guarantor unless it is made expressly subordinate in right of payment to its Subsidiary Guarantee to the same extent and in the same manner as such Indebtedness is subordinated to such other Indebtedness. For purposes of the foregoing, no
Indebtedness shall be deemed to be subordinated in right of payment to any other Indebtedness of the Company or any Subsidiary Guarantor solely by reason of any Liens or Guarantees arising or created in respect of such other Indebtedness or by
virtue of the fact that the holders of any Secured Indebtedness have entered into intercreditor agreements giving one or more of such holders priority over the other holders in the collateral held by them. 
  

 46 

  
 SUCCESSOR CORPORATION

  
 Merger, Consolidation or Sale of Assets. 
  
 The Company shall not, directly or indirectly: (1) consolidate or merge with
or into another Person (whether or not the Company is the surviving corporation); or (2) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties and assets of the Company and its Subsidiaries taken as a
whole, in one or more related transactions, to another Person or Persons; unless: 
  
 (1) either: (a) the Company is the surviving corporation; or (b) the Person formed by or surviving any such consolidation or merger (if
other than the Company) or to which such sale, assignment, transfer, conveyance or other disposition shall have been made (i) is a corporation organized or existing under the laws of the United States, any state thereof or the District of Columbia,
and (ii) assumes all the obligations of the Company under the Notes, this Indenture and the Registration Rights Agreement pursuant to agreements reasonably satisfactory to the Trustee; 
  
 (2) immediately after giving effect to such transaction, no Default or Event of Default exists; 

 
 (3) immediately after giving effect to such transaction
on a pro forma basis, the Company or the Person formed by or surviving any such consolidation or merger (if other than the Company), or to which such sale, assignment, transfer, conveyance or other disposition shall have been made shall, on the date
of such transaction after giving pro forma effect thereto and any related financing transactions as if the same had occurred at the beginning of the applicable four-quarter period, be permitted to incur at least $1.00 of additional Indebtedness
pursuant to the Fixed Charge Coverage Ratio test set forth in the first paragraph of Section 4.09; and 
  
 (4) each Subsidiary Guarantor, unless such Subsidiary Guarantor is the Person with which the Company has entered into a transaction under
this Section 5.01, shall have by amendment to its Subsidiary Guarantee confirmed that its Subsidiary Guarantee shall apply to the obligations of the Company or the Surviving Person in accordance with the Notes and this Indenture. 
  
 A Subsidiary Guarantor may not sell or otherwise dispose of all or
substantially all of its assets to, or consolidate with or merge with or into (whether or not such Subsidiary Guarantor is the surviving Person), another Person, other than the Company or another Subsidiary Guarantor, unless: 
  
 (1) immediately after giving effect to that transaction, no
Default or Event of Default exists; and 
  
 (2)
either: 
  
 (a) the Person acquiring the property
in any such sale or disposition or the Person formed by or surviving any such consolidation or merger is a 

  

 47 

 
corporation organized or existing under the laws of the United States, any state thereof or the District of Columbia and assumes all the obligations of that
Subsidiary Guarantor under this Indenture, its Subsidiary Guarantee and the Registration Rights Agreement pursuant to a supplemental indenture satisfactory to the Trustee; or 
  
 (b) such sale or other disposition complies with Section 4.11 hereof, including the application of the Net
Proceeds therefrom. 
  
 In addition, neither the Company nor any
Restricted Subsidiary may, directly or indirectly, lease all or substantially all of its properties or assets, in one or more related transactions, to any other Person. Clause (3) of the first paragraph of this Section 5.01 shall not apply to any
merger, consolidation, sale, assignment, transfer, conveyance or other disposition of assets between or among the Company and any of its Restricted Subsidiaries. 
  
 Successor Corporation Substituted. 
  
 Upon any consolidation or merger, or any sale, assignment, transfer, conveyance or other disposition of all substantially
all of the assets of the Company in accordance with Section 5.01 hereof, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, conveyance or other disposition
is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall
refer instead to the successor corporation and not to the Company), and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein; and thereafter the
predecessor Company shall be relieved of all further obligations and covenants under this Indenture and the Notes. 
  
 DEFAULTS AND REMEDIES 
  
 Events of Default. 
  
 Each of the following is an “Event of Default”: 
  
 default for 30 days in the payment when due of interest (including any additional interest) on the Notes; 
  
 default in payment when due (whether at maturity, upon acceleration, redemption or otherwise) of the principal of, or premium, if any, on the Notes;

  
 failure by the Company or any of its Restricted Subsidiaries
to comply with the provisions described under Sections 4.16 and 4.11 and Article Five; 
  
 failure by the Company or any of its Restricted Subsidiaries for 30 days after written notice by the Trustee or Holders representing 25% or more of the aggregate principal amount of Notes outstanding to comply with
any of the other agreements in this Indenture; 
  
 default under
any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is Guaranteed by
the Company or any of its Restricted Subsidiaries) whether such Indebtedness or Guarantee now exists, or is created after the date of this Indenture, if that default: 
  
 is caused by a failure to pay principal of, or interest or premium, if any, on such Indebtedness at final maturity thereof
or 
  

 48 

 results in the acceleration of such Indebtedness prior to its final maturity, 
  
 and, in each case, the principal amount of any such Indebtedness, together
with the principal amount of any other such Indebtedness under which there has been a similar default aggregates $10.0 million or more; 
  
 failure by the Company or any of its Restricted Subsidiaries to pay final judgments aggregating in excess of $10.0 million, which judgments are not paid,
discharged or stayed for a period of 60 days; 
  
 except as
permitted by this Indenture, any Subsidiary Guarantee of a Significant Subsidiary shall be held in any judicial proceeding to be unenforceable or invalid, or shall cease for any reason to be in full force and effect, or any Subsidiary Guarantor that
is a Significant Subsidiary, or any Person acting on behalf of any Subsidiary Guarantor, shall deny or disaffirm its obligations under its Subsidiary Guarantee; 
  

the Company, any of its Significant Subsidiaries or any Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary,
pursuant to or within the meaning of any Bankruptcy Law: 
  
 commences a voluntary case, 
  
 consents to the entry of
an order for relief against it in an involuntary case, 
  
 makes a
general assignment for the benefit of its creditors, or 
  
 generally is not paying its debts as they become due; and 
  
 a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
  
 is for relief against the Company, any of its Significant Subsidiaries or any Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary, in an involuntary case; 
  
 appoints a
Custodian for the Company, any of its Significant Subsidiaries or any Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary, or for all or substantially all of the properties of the Company, any of its
Significant Subsidiaries or any Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary; or 
  
 orders the liquidation of the Company, any of its Significant Subsidiaries or any Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary; 
  
 and the order or decree remains
unstayed and in effect for 60 consecutive days. 
  
 The term
“Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law. 
  
 Acceleration. 
  
 If an Event of Default specified in clauses 8 or 9 of Section 6.01 occurs,
all unpaid principal of, and accrued interest on, the Notes then outstanding shall become due and payable immediately, without any declaration or other act on the part of the Trustee or any Holder. If an Event of Default (other than an Event of
Default specified in clauses 8 and 9) under Section 6.01 occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the unpaid principal
of, premium, if any, and accrued and unpaid interest on, all the Notes then outstanding to be due and payable immediately, by a notice in writing to the Company (and to the Trustee, if given by Holders) specifying the respective Event of Default and
upon any such declaration such principal, premium, if any, and accrued and unpaid interest shall become immediately due and payable. 
  

 49 

 If any Event of Default occurs by reason of any willful action or inaction taken or not taken by or on
behalf of the Company with the intention of avoiding payment of the premium that the Company would have had to pay if the Company then had elected to redeem the Notes pursuant to the optional redemption provisions of paragraph 7 of the Notes, then,
upon acceleration of the Notes, an equivalent premium shall also become and be immediately due and payable, to the extent permitted by law, anything in this Indenture or in the Notes to the contrary notwithstanding. If an Event of Default occurs
during any time that the Notes are outstanding, by reason of any willful action or inaction taken or not taken by or on behalf of the Company with the intention of avoiding the prohibition on redemption of the Notes, then, the premium specified in
the second paragraph of paragraph 7 of the Notes shall also become immediately due and payable to the extent permitted by law upon the acceleration of the Notes. 
  
 If (i) (A) the Company or any Subsidiary Guarantor has paid or deposited with the Trustee a sum sufficient to pay (1) all
overdue installments of interest on all the Notes, (2) the principal of, and premium, if any, on any Notes that have become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in the
Notes, (3) to the extent that payment of such interest is lawful, interest on the defaulted interest at the rate or rates prescribed therefor in the Notes, and (4) all money paid or advanced by the Trustee thereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel; (B) all Events of Default, other than the nonpayment of the principal of any Notes that have become due solely by such declaration of acceleration, have been cured or
waived as provided in this Indenture; provided, however, that, in the event of the cure or waiver of an Event of Default of the type described in clauses 7 or 8 of Section 6.01, the Trustee shall have received an Officers’
Certificate and an Opinion of Counsel that such Event of Default has been cured or waived; and (C) the rescission would not conflict with any judgment or decree of a court of competent jurisdiction and (ii) the Holders of a majority in aggregate
principal amount of then outstanding Notes give written notice to the Company, the Subsidiary Guarantors and the Trustee of their desire to rescind and annul a declaration of acceleration and its consequences, then such declaration of acceleration
shall be deemed rescinded and annulled. No such rescission shall affect any subsequent Event of Default or impair any right consequent thereon. 
  
 Other Remedies. 
  
 If an Event of Default occurs and is continuing, the Trustee may pursue, in its own name and as trustee of an express trust, any available remedy by
proceeding at law or in equity to collect the payment of principal or interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture. 
  
 The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is
exclusive of any other remedy. All available remedies are cumulative. 
  
 Waiver of Past Defaults. 
  
 Subject to Sections
6.07 and 9.02, the Holders of at least a majority in aggregate principal amount of Notes then outstanding by notice to the Trustee may waive an existing Default or Event of Default and its consequences, except a continuing Default or Event of
Default in payment of interest, additional interest or premium on, or the principal of, the Notes, including any optional redemption payments or Change of Control or Asset Sale Offer payments. 
  
 Control by Majority. 
  
 The Holders of a majority in aggregate principal amount of the Notes then
outstanding shall have the right, by an instrument or concurrent instruments in writing executed and delivered to the Trustee, to direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee under
this Indenture or exercising any trust or power conferred on such Trustee; provided that the Trustee (i) may refuse to follow any direction that is in conflict with any rule of law or with this Indenture, that may involve the Trustee in
personal liability, or that the Trustee determines in good faith may be prejudicial to the rights of Holders not joining in the giving of such direction and (ii) may take any other action it deems proper that is not inconsistent with any 

  

 50 

 
such direction received from Holders. If the Trustee takes any action or follows any direction pursuant to this Indenture, the Trustee shall be entitled to
indemnification reasonably satisfactory to it against any loss, liability or expense caused by taking such action or following such direction. 
  
 Limitation on Remedies. 
  
 No Holder of any of the Notes shall have any right to institute any proceeding, judicial or otherwise, or for the appointment of a receiver or trustee or
pursue any remedy under this Indenture, unless: 
  
 such Holder
has previously given written notice to the Trustee of a continuing Event of Default; 
  
 the Holders of not less than 25% in aggregate principal amount of the outstanding Notes have made written request to the Trustee to pursue such remedy, including, if applicable, to institute proceedings in respect of
such Event of Default in its own name as Trustee under this Indenture; 
  
 such Holder or Holders have offered to the Trustee reasonable indemnity and security satisfactory to the Trustee against the costs, expenses and liabilities to be incurred in compliance with such request; 
  
 the Trustee for 60 days after its receipt of such notice, request and offer
of indemnity has failed to institute such requested proceeding; and 
  
 no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in aggregate principal amount of the outstanding Notes. 
  
 A Holder may not use this Indenture to prejudice the rights of another Holder
or to obtain a preference or priority over other Holders. 
  
 Rights of Holders to Receive Payment. 
  
 Notwithstanding any other provision of this Indenture, the Holder of any Notes shall have the right, which is absolute and unconditional, to receive payment of the principal of, premium, if any, and interest on such Notes on the Stated
Maturity therefor and to institute suit for the enforcement of any such payment, and such right may not be impaired without the consent of such Holder. 
  
 Collection Suit by Trustee. 
  
 If an Event of Default in payment of principal, premium, if any, or interest specified in Section 6.01(l) or (2) occurs and is continuing, the Trustee may
recover judgment in its own name and as trustee of an express trust against the Company or any Subsidiary Guarantor for the whole amount of principal, premium, if any, and interest remaining unpaid with respect to the Notes, and interest on overdue
principal and premium, if any, and, to the extent lawful, interest on overdue interest, and such further amounts as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation and expenses of the Trustee,
its agents and counsel. 
  
 Trustee May File Proofs of Claim.

  
 The Trustee may file such proofs of claim and other
papers or documents as may be necessary or advisable in order to have the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Company, the Subsidiary Guarantors, their creditors or their property and may collect
and receive any money or other property payable or deliverable on any such claims and to distribute the same. 
  
 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
  

 51 

 Priorities. 
  
 If the Trustee collects any money pursuant to this Article Six, it shall pay out the money in the following order:

  

			
	First:	  	to the Trustee for amounts due under Sections 6.08 and 7.07;
		
	Second:	  	to Holders for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable
on the Notes for principal, premium, if any, and interest, respectively; and
		
	Third:	  	to the Company.

  
 The Trustee may fix a
record date and payment date for any payment to Holders pursuant to this Section 6.10. 
  
 Undertaking for Costs. 
  
 In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the
suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorney’s fees and expenses, against any party litigant in the suit, having due regard to the merits and
good faith of the claims or defenses made by the party litigant. The foregoing shall not apply to a suit by the Trustee, a suit by a holder pursuant to Section 6.07 hereof, or a suit by Holders or more than 10% in aggregate principal amount of the
then outstanding Notes. 
  
 TRUSTEE 
  
 Duties of Trustee. 
  
 The duties and responsibilities of the Trustee shall be as provided by the
TIA. No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it
shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. Whether or not therein expressly so provided, every provision of this Indenture relating
to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 7.01. The Trustee shall not be liable for interest on any money or asset received by it except as the Trustee may
agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
  
 Rights of Trustee. 
  
 Subject to Section 7.01: 
  
 The Trustee may rely and shall be fully protected in acting or refraining from acting upon any document believed by it to be genuine and
to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 
  
 Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel. In the absence of
bad faith on the part of the Trustee, the Trustee shall not be liable for any action it takes or omits to take in reliance on such Officer’s Certificate or Opinion of Counsel. 
  

 52 

 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 the misconduct or negligence of any agent or attorney appointed with due care. 
  
 The Trustee shall not be liable for any action it takes,
suffers or omits to take in good faith which it believes to be authorized or within its rights, discretion or powers. 
  
 The Trustee may consult with counsel of its selection and the advice or opinion of such counsel as to matters of law shall be full and
complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 
  
 Any request or direction of the Company mentioned herein
shall be sufficiently evidenced by an Officers’ Certificate and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution. 
  
 The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against the costs, expenses and liabilities
which might be incurred by it in compliance with such request, order or discretion. 
  
 The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, notice, request, direction, consent, order, bond, debenture or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit. If the
Trustee shall determine to make such further inquiry or investigation, the Trustee shall be entitled, upon reasonable notice to the Company and in good faith, to examine the books, records and premises of the Company or any Subsidiary Guarantor,
personally or by agent or attorney. 
  
 Except
with respect to Section 4.01, the Trustee shall have no duty to inquire as to the performance of the Company with respect to the covenants contained in Article Four. In addition, the Trustee shall not be deemed to have notice of an Event of Default
unless a Trust Officer of the Trustee has actual knowledge thereof or unless the Trustee shall have received written notice thereof at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture. 
  
 Individual Rights of Trustee. 
  
 The Trustee in its individual or any other capacity may become the owner or
pledgee of Notes and Guarantees and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. However, the Trustee must comply with Sections 7.10 and
7.11. 
  
 Trustee’s Disclaimer. 
  
 The Trustee shall not be responsible for and makes no representation as to
the validity or adequacy of this Indenture or the Notes, it shall not be accountable for the Company’s use of the proceeds from the Notes, and it shall not be responsible for any statement of the Company in this Indenture or the Notes other
than the Trustee’s certificate of authentication. The recitals contained herein are statements of the Company. 
  
 Notice of Defaults. 
  
 If a Default or an Event of Default occurs and is continuing and if it is known to the Trustee, the Trustee shall mail to each Holder notice of the
Default or Event of Default within 30 days after the occurrence thereof. Except in the case of a Default or an Event of Default in payment of principal of, premium, if any, or interest on, any 

  

 53 

 
Note or a Default or Event of Default in complying with Section 5.01, the Trustee may withhold the notice if and so long as a committee of its Trust Officers
in good faith determines that withholding the notice is in the interest of Holders. This Section 7.05 shall be in lieu of the proviso to Section 315(b) of the TIA and such proviso to Section 315(b) of the TIA is hereby expressly excluded from this
Indenture and the Notes, as permitted by the TIA. For purposes of this Section 7.05, the Trustee shall not be deemed to have knowledge of a Default or an Event of Default hereunder unless an officer of the Trustee with direct responsibility for the
administration of this Indenture has actual knowledge thereof, or unless written notice of any event which is a Default or an Event of Default is received by the Trustee and such notice references the Notes or this Indenture. 
  
 Reports by Trustee to Holders. 
  
 Within 60 days after each May 15 of each year, the Trustee shall, to the
extent that any of the events described in TIA Section 313(a) occurred within the previous twelve months, but not otherwise, mail to each Holder a brief report dated as of such date that complies with TIA Section 313(a). The Trustee also shall
comply with TIA Sections 313(b), 313(c) and 313(d). 
  
 A copy of
each report at the time of its mailing to Holders shall be mailed to the Company and filed with the SEC and each securities exchange, if any, on which the Notes are listed. 
  
 The Company shall promptly notify the Trustee if the Notes become listed on any securities exchange or of any delisting
thereof. 
  
 Compensation and Indemnity. 
  
 The Company shall pay to the Trustee from time to time reasonable
compensation for all services rendered by it hereunder. 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 or made by it in addition to the compensation for its services except any such disbursements, expenses and advances as may be attributable to the Trustee’s negligence or bad faith. Such expenses shall include the
reasonable compensation, disbursements and expenses of the Trustee’s agents, accountants, experts and counsel and any taxes or other expenses incurred by a trust created pursuant to Article Eight. 
  
 The Company shall indemnify the Trustee and its agents, employees,
attorneys-in-fact, officers, directors and shareholders for, and hold it harmless against, any and all loss, damage, claims, liability or expense, including taxes (other than franchise taxes imposed on the Trustee and taxes based upon, measured by
or determined by the income of the Trustee), arising out of or in connection with the acceptance or administration of the trust or trusts hereunder (including its services as Registrar or Paying Agent, if so appointed by the Company), including the
reasonable costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent that such loss, damage, claim, liability or expense is due
to its own negligence or bad faith. The Trustee shall notify the Company promptly of any claim asserted against the Trustee for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its
obligations hereunder. The Company shall defend the claim and the Trustee shall cooperate in the defense (and may employ its own counsel) at the Company’s expense; provided, however, that the Company’s reimbursement
obligation with respect to counsel employed by the Trustee shall be limited to the reasonable fees and expenses of such counsel. 
  
 The Company need not pay for any settlement made without its written consent, which consent shall not be unreasonably withheld. The Company need not
reimburse any expense or indemnify against any loss or liability incurred by the Trustee as a result of the violation of this Indenture by the Trustee, or arising out of the Trustee’s negligence or willful misconduct. 
  
 To secure the Company’s payment obligations in this Section 7.07, the
Trustee shall have a Lien prior to the Notes against all money or property held or collected by the Trustee, in its capacity as Trustee, except money or property held in trust to pay principal of, premium, if any, or interest on particular Notes.

  

 54 

 When the Trustee incurs expenses or renders services after an Event of Default specified in Section
6.01(8) or (9) occurs, such expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. The Company’s obligations under this Section 7.07 and any lien arising hereunder shall
survive the resignation or removal of any Trustee, the discharge of the Company’s obligations pursuant to Article Eight and any rejection or termination under any Bankruptcy Law. 
  
 Replacement of Trustee. 
  
 The Trustee may resign at any time by so notifying the Company in writing. The Holders of a majority in principal amount of the outstanding Notes may
remove the Trustee by so notifying the Trustee and the Company in writing and may appoint a successor Trustee with the Company’s consent, which consent shall not be unreasonably withheld. The Company may remove the Trustee if: 
  
 the Trustee fails to comply with Section 7.10; 
  
 the Trustee is adjudged a bankrupt or an insolvent under any Bankruptcy Law;

  
 a receiver or other public officer takes charge of the Trustee
or its property; or 
  
 the Trustee becomes incapable of acting.

  
 If the Trustee resigns or is removed or if a vacancy exists in
the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a
majority in principal amount of the Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. 
  
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. As promptly as practicable after
that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor Trustee, subject to the Lien provided in Section 7.07, the resignation or
removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Holder. 

 
 If a successor Trustee does not take office within 60 days after the
retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee.

  
 If the Trustee fails to comply with Section 7.10, any Holder
may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
  
 Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 shall continue for the benefit
of the retiring Trustee. 
  
 Successor Trustee by Merger, Etc.

  
 If the Trustee consolidates, merges or converts into, or
transfers all or substantially all of its corporate trust business to, another corporation or banking corporation, the resulting, surviving or transferee corporation or banking corporation without any further act shall, if such resulting, surviving
or transferee corporation or banking corporation is otherwise eligible hereunder, be the successor Trustee. 
  
 Eligibility; Disqualification. 
  
 This Indenture shall always have a Trustee which shall be eligible to act as Trustee under TIA Sections 310(a)(1) and 310(a)(2). The Trustee must have a
combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. If the Trustee has or shall acquire any “conflicting interest” 

  

 55 

 
within the meaning of TIA Section 310(b), the Trustee and the Company shall comply with the provisions of TIA Section 310(b); provided,
however, that there shall be excluded from the operation of TIA Section 310(b)(1) any indenture or indentures under which other securities or certificates of interest or participation in other securities of the Company are outstanding if the
requirements for such exclusion set forth in TIA Section 310(b)(1) are met. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 7.10, the Trustee shall resign immediately in the manner and with the
effect hereinbefore specified in this Article Seven. 
  
 Preferential Collection of Claims Against the Company. 
  
 The Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated therein.

  
 SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE 

 
 Satisfaction and Discharge. 
  
 This Indenture, the Notes and the Subsidiary Guarantees shall be discharged
and shall cease to be of further effect (except as to surviving rights of registration of transfer or exchange of the Notes, as expressly provided for in this Indenture) as to all outstanding Notes when: 
  

	 	(1)	either: 

  
 (a) all the Notes theretofore authenticated and delivered (except lost, stolen or destroyed Notes which have been replaced or paid and
Notes for whose payment money has theretofore been deposited with the Trustee or the Paying Agent in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section
8.05) have been delivered to the Trustee for cancellation; or 
  
 (b) all Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the making of a notice of redemption or otherwise or shall become due and payable within one year and
the Company or any Subsidiary Guarantor has irrevocably deposited or caused to be deposited with the Trustee, as trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination
thereof, in such amounts as shall be sufficient without consideration of any reinvestment of interest, to pay and discharge the entire indebtedness on the Notes not delivered to the Trustee for cancellation for principal, premium and additional
interest, if any, and accrued interest to the date of maturity or redemption; 
  

	 	(2)	no Default or Event of Default shall have occurred and be continuing on the date of such deposit or shall occur as a result of such deposit and such deposit shall not result in a
breach or violation of, or constitute a default under, any other instrument to which the Company or any Subsidiary Guarantor is a party or by which the Company or any Subsidiary Guarantor is bound; 

  

	 	(3)	the Company has paid all other sums payable under this Indenture by the Company; 

  

	 	(4)	the Company has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment of the Notes at maturity or the redemption
date, as the case may be; and 

  

	 	(5)	the Company has delivered an Officers’ Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been
satisfied. 

  

 56 

 Legal Defeasance and Covenant Defeasance. 
  
 The Company may, at its option by Board Resolution of the Board of Directors
of the Company, at any time, elect to have either paragraph (b) or (c) below be applied to all outstanding Notes upon compliance with the conditions set forth in Section 8.03. 
  
 Upon the Company’s exercise under paragraph (a) hereof of the option applicable to this paragraph (b), the Company and,
if it so selects each of the Subsidiary Guarantors, shall, subject to the satisfaction of the conditions set forth in Section 8.03, be deemed to have been discharged from its obligations with respect to all outstanding Notes on the date the
conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company shall be deemed to have paid and discharged the entire Indebtedness represented by the outstanding
Notes, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.04 and the other Sections of this Indenture referred to in (1) and (2) below, and to have satisfied all its other obligations under such Notes
and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions, which shall survive until otherwise terminated or discharged
hereunder: 
  
 (1) the rights of Holders to
receive solely from the trust fund described in Section 8.04, and as more fully set forth in such Section, payments in respect of the principal of, premium, if any, and interest on such Notes when such payments are due; 
  
 (2) the Company’s obligations with respect to such
Notes under Article Two and Section 4.04; 
  
 (3)
the rights, powers, trusts, duties and immunities of the Trustee hereunder, and the Company’s and the Subsidiary Guarantor’s obligations in connection therewith; and 
  
 (4) this Article Eight. 
  
 Subject to compliance with this Article Eight, the Company may exercise its option under this paragraph (b) notwithstanding the prior
exercise of its option under paragraph (c) hereof. 
  
 Upon the
Company’s exercise under paragraph (a) hereof of the option applicable to this paragraph (c), the Company and any Subsidiary Guarantor shall, subject to the satisfaction of the conditions set forth in Section 8.03, be released from its
obligations under the covenants contained in Section 4.02, Sections 4.07 through Section 4.22 (inclusive) and clause (3) of Section 5.01 hereof with respect to the outstanding Notes on and after the date the conditions set forth below are satisfied
(hereinafter, “Covenant Defeasance”), and the Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in
connection with such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes). For this purpose, such Covenant
Defeasance means that, with respect to the outstanding Notes, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason
of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under
Section 6.01(4), but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. In addition, upon the Company’s exercise under paragraph (a) hereof of the option applicable to this paragraph (c),
subject to the satisfaction of the conditions set forth in Section 8.03, Sections 6.01(3), 6.01(4), 6.01(5), 6.01(6) and 6.01(7) shall not constitute Events of Default. 
  

 57 

 Conditions to Legal Defeasance or Covenant Defeasance. 
  
 The following shall be the conditions to the application of either Section
8.02(b) or 8.02(c) to the outstanding Notes: 
  
 In order to
exercise either Legal Defeasance or Covenant Defeasance: 
  
 the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. Legal Tender, U.S. Government Obligations, or a combination thereof, in such amounts as shall be
sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of, premium, if any and interest on the outstanding Notes on the Stated Maturity or on the applicable redemption date, as the case may
be, and the Company must specify whether the Notes are being defeased to maturity or to a particular redemption date; provided that the Trustee shall have been irrevocably instructed to apply such money or the proceeds of such U.S. Government
Obligations to the payment of such principal of, premium, if any, and interest on the outstanding Notes on such Stated Maturity date or such redemption date and, with respect to any redemption date, the Company shall have provided the Trustee with
irrevocable instructions to redeem all of the Notes on such redemption date; 
  
 in the case of Legal Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that (i) the Company has received from, or there has been
published by, the Internal Revenue Service a ruling or (ii) since the date hereof, there has been a change in the applicable federal income tax law, in either case to the effect that, and based thereon, such Opinion of Counsel shall confirm that,
the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times
as would have been the case if such Legal Defeasance had not occurred; 
  
 in the case of Covenant Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that the Holders of the outstanding Notes will not recognize
income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant
Defeasance had not occurred; 
  
 no Default or
Event of Default shall have occurred and be continuing either: (a) on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit and the grant of any Lien securing such
borrowing); or (b) insofar as Sections 6.01(8) and (9) apply, at any time in the period ending on the 123rd day
after the date of deposit; 
  
 such Legal
Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any material agreement or instrument to which the Company or any of its Subsidiaries is a party or by which the Company or any of its
Subsidiaries is bound; 
  
 the Company must have
delivered to the Trustee an Opinion of Counsel to the effect that, (1) assuming no intervening bankruptcy of the Company or any Subsidiary Guarantor between the date of deposit and the 123rd day following the deposit and assuming that no Holder is an “insider” of the Company under applicable bankruptcy law, after the 123rd day following the deposit, the trust funds will not be subject to the effect of Section 547 of the United States Bankruptcy
Code or any applicable state bankruptcy, insolvency, reorganization or similar state law affecting creditors’ rights generally and (2) the creation of the defeasance trust does not violate the Investment Company Act of 1940; 
  
 the Company must deliver to the Trustee an Officers’
Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding creditors of the Company or others;

  
 if the Notes are to be redeemed prior to
their Stated Maturity, the Company must deliver to the Trustee irrevocable instructions to redeem all of the Notes on the specified redemption date; and 
  
 the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 
  

 58 

 Application of Trust Money. 
  
 The Trustee or Paying Agent shall hold in trust U.S. Legal Tender or U.S. Government Obligations deposited with it pursuant
to this Article Eight, and shall apply the deposited U.S. Legal Tender and the money from U.S. Government Obligations in accordance with this Indenture to the payment of principal of and interest on the Notes. The Trustee shall be under no
obligation to invest said U.S. Legal Tender or U.S. Government Obligations except as it may agree with the Company. 
  
 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Legal Tender or U.S.
Government Obligations deposited pursuant to Section 8.03 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes. 
  
 Anything in this Article Eight to the contrary notwithstanding, the Trustee
shall deliver or pay to the Company from time to time upon the Company’s request any U.S. Legal Tender or U.S. Government Obligations held by it as provided in Section 8.03 which, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 
  
 Repayment to Company. 
  
 Subject to Section 7.07 and this Article Eight, the Trustee and the Paying
Agent shall promptly pay to the Company, or if deposited with the Trustee by any Subsidiary Guarantor, to such Subsidiary Guarantor, upon request any excess U.S. Legal Tender or U.S. Government Obligations held by them at any time and thereupon
shall be relieved from all liability with respect to such money. The Trustee and the Paying Agent shall pay to the Company, or if deposited by any Subsidiary Guarantor, to such Subsidiary Guarantor, upon request any money held by them for the
payment of principal or interest that remains unclaimed for two years after the date of payment of such principal and interest; provided that the Trustee or such Paying Agent, before being required to make any payment, may at the expense of
the Company cause to be published once in a newspaper of general circulation in The City of New York or mail to each Holder entitled to such money notice that such money remains unclaimed and that after a date specified therein which shall be at
least 30 days from the date of such publication or mailing any unclaimed balance of such money then remaining shall be repaid to the Company or a Subsidiary Guarantor. After payment to the Company or a Subsidiary Guarantor, as the case may be,
Holders entitled to such money must look to the Company for payment as general creditors unless an applicable law designates another Person and all liability of the Trustee and such Paying Agent with respect to such money shall cease. 
  
 Reinstatement. 
  
 If the Trustee or Paying Agent is unable to apply any U.S. Legal Tender or
U.S. Government Obligations in accordance with this Article Eight by reason of any legal proceeding or by reason of any order or judgment of any court of governmental authority enjoining, restraining or otherwise prohibiting such application, the
Company’s and each Subsidiary Guarantor’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to this Article Eight until such time as the Trustee or Paying Agent is
permitted to apply all such U.S. Legal Tender or U.S. Government Obligations in accordance with Article Eight; payment of interest on or principal of any Notes because of the reinstatement of its obligations, the Company or any Subsidiary Guarantor,
as the case may be, shall be subrogated to the rights of the Holders of such Notes to receive such payment from the U.S. Legal Tender or U.S. Government Obligations held by the Trustee or Paying Agent. 
  

 59 

  
 AMENDMENTS, SUPPLEMENTS AND
WAIVERS 
  
 Without Consent of Holders. 
  
 The Company, the Subsidiary Guarantors and the Trustee may modify, amend or
supplement this Indenture or the Notes without notice to or consent of any Holder: 
  
 to cure any ambiguity, defect or inconsistency; 
  
 to provide for uncertificated Notes in addition to or in place of certificated Notes; 
  
 to provide for the assumption of the Company’s or any Subsidiary Guarantor’s Obligations to the Holders in the case of a merger or consolidation
or sale of all or substantially all of the Company’s or such Subsidiary Guarantor’s assets; 
  
 to make any change that would provide any additional rights or benefits to the Holders or that does not materially adversely affect the legal rights under
this Indenture of any such Holder; provided that the Company provides the Trustee an opinion of the external counsel of the Company stating that such change does not materially adversely affect the rights of any Holder of the Notes;
provided further that such counsel must be a law firm of national standing; 
  
 to comply with requirements of the Commission in order to effect or maintain the qualification of this Indenture under the TIA; 
  

to comply with Section 4.19; or 
  
 to evidence and provide for the acceptance of appointment by a successor Trustee. 
  
 Upon the request of the Company and the Subsidiary Guarantors, accompanied by a Board Resolution of the Company and each
Subsidiary Guarantor authorizing the execution of any such supplemental indenture, and upon receipt by the Trustee of the documents described in Section 9.06, the Trustee may, but shall not be obligated to, join with the Company and the Subsidiary
Guarantors in the execution of any supplemental indenture authorized or permitted by the terms of this Indenture and make any further appropriate agreements and stipulations that may be therein contained. After an amendment or waiver under this
Section becomes effective, the Company shall mail to the Holders of each Note affected thereby a notice briefly describing the amendment or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way
impair or affect the validity of any such supplemental indenture. 
  
 With Consent of Holders. 
  
 Except as provided
below in this Section 9.02, the Company, the Subsidiary Guarantors and the Trustee may amend this Indenture or the Notes with the written consent (including consents obtained in connection with a tender offer or exchange offer for Notes or a
solicitation of consents in respect of Notes, provided that in each case such offer or solicitation is made to all Holders of then outstanding Notes on equal terms) of the Holders of at least a majority in aggregate principal amount of the
then outstanding Notes. 
  
 Upon the request of the Company and
the Subsidiary Guarantors, accompanied by a Board Resolution of the Company and each Subsidiary Guarantor authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of the Holders as
aforesaid, and upon receipt by the Trustee of the Opinion of Counsel documents described in Section 9.06, the Trustee may, but shall not be obligated to, join with the Company and the Subsidiary Guarantors in the execution of such supplemental
indenture. 
  

 60 

 It shall not be necessary for the consent of the Holders under this Section to approve the particular
form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 
  
 The Holders of a majority in aggregate principal amount of the then outstanding Notes may waive compliance in a particular instance by the Company or the
Subsidiary Guarantors with any provision of this Indenture or the Notes (including waivers obtained in connection with a tender offer or exchange offer for Notes or a solicitation of consents in respect of Notes, provided that in each case
such offer or solicitation is made to all Holders of the then outstanding Notes on equal terms). However, without the consent of each Holder affected, an amendment or waiver under this Section 9.02 may not (with respect to any Notes held by a
non-consenting Holder): 
  
 (1) reduce the
principal amount of Notes whose Holders must consent to an amendment, supplement or waiver; 
  
 (2) reduce the principal of or change the fixed maturity of any Note or alter the provisions, or waive any payment, with respect to the
redemption of the Notes; 
  
 (3) reduce the rate
of or change the time for payment of interest on any Note; 
  
 (4) waive a Default or Event of Default in the payment of principal of, premium, if any, or interest on the Notes (except a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate
principal amount of the Notes and a waiver of the payment default that resulted from such acceleration); 
  
 (5) make any Note payable in money other than U.S. dollars; 
  
 (6) make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights
of Holders to receive payments of principal of, premium, if any, or interest on the Notes; 
  
 (7) release any Subsidiary Guarantor from any of its obligations under its Subsidiary Guarantee or this Indenture, except in accordance
with the terms of this Indenture; 
  
 (8) impair
the right to institute suit for the enforcement of any payment on or with respect to the Notes or the Subsidiary Guarantees; 
  
 (9) amend, change or modify the obligation of the Company to make and consummate an Asset Sale Offer with respect to any Asset Sale in
accordance with Section 4.11 hereof or the obligation of the Company to make and consummate a Change of Control Offer in the event of a Change of Control in accordance with Section 4.16 hereof, including, in each case, amending, changing or
modifying any definition relating thereto; 
  
 (10) except as otherwise permitted under Sections 5.01 or 4.19(c) hereof, consent to the assignment or transfer by the Company or any Subsidiary Guarantor of any of their rights or obligations under this Indenture; 
  
 (11) amend or modify any of the provisions of this Indenture
or the related definitions affecting the ranking of the Notes or any Note Guarantee in any manner adverse to the Holders or any Note Guarantee; or 
  
 (12) make any change in the preceding amendment and waiver provisions. 
  
 The right of any Holder to participate in any consent required or sought pursuant to any provision of this Indenture (and
the obligation of the Company to obtain any such consent otherwise required from such Holder) may be subject to the requirement that such Holder shall have been the Holder of record of any Notes with respect to which such consent is required or
sought as of a date identified by the Trustee in a notice furnished to Holders in accordance with the terms of this Indenture. 
  

 61 

 Compliance with Trust Indenture Act. 
  
 Every amendment to or supplement of this Indenture or the Notes shall comply
with the TIA as then in effect. 
  
 Revocation and Effect of
Consents. 
  
 A consent to an amendment, supplement or waiver
by a Holder of a Note shall bind the Holder and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, until an
amendment, supplement or waiver becomes effective, any such Holder or subsequent Holder may revoke the consent as to his Note or portion of a Note. For such revocation to be effective, the Trustee must receive the notice of revocation before the
date the amendment, supplement or waiver becomes effective. 
  
 The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to consent to any amendment or waiver. If the Company elects to fix a record date for such purpose, the record date shall
be fixed at such date as the Company may designate. If a record date is fixed, then notwithstanding the provisions of the immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and
only those Persons, shall be entitled to consent to such amendment or waiver or to revoke any consent previously given, whether or not such Persons continue to be Holders after such record date. No consent shall be valid or effective for more than
90 days after such record date unless consent from the Holders of the principal amount of Notes required hereunder for such amendment or waiver to be effective also shall have been given and not revoked within such 90-day period. 
  
 After an amendment, supplement or waiver becomes effective, it shall bind
every Holder unless it makes a change described in any of clauses (1) through (12) of Section 9.02. In that case the amendment, supplement or waiver shall bind each Holder of a Note who has consented to it and every subsequent Holder of a Note or
portion of a Note that evidences the same debt as the consenting Holder’s Note. 
  
 Notation on or Exchange of Notes. 
  
 If an amendment, supplement or waiver changes the terms of a Note, the Trustee may require the Holder of the Note to deliver it to the Trustee. The Trustee may place an appropriate notation on the Note about the
changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so determines, the Company in exchange for the Note shall issue and the Trustee shall authenticate a new Note that reflects the changed terms. 
  
 Trustee Protected . 
  
 In executing, or accepting the additional trusts created by, any
supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive indemnity reasonably satisfactory to it and shall be provided with, and (subject to
Article Seven) shall be fully protected in relying upon, an Opinion of Counsel stating that such amendment or supplement or waiver is authorized or permitted by and complies with this Indenture. The Trustee may, but shall not be obligated to, enter
into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
  

 62 

  
 [INTENTIONALLY OMITTED]

  
 GUARANTEES 
  
 Unconditional Guarantee. 
  
 Each Subsidiary Guarantor hereby, jointly and severally, unconditionally
guarantees on a senior basis to each Holder and to the Trustee the due and punctual payment of the principal of, premium, if any, and interest on the Notes and all other amounts due and payable under this Indenture and the Notes by the Company
whether at maturity, by acceleration, redemption, repurchase or otherwise, including, without limitation, interest on the overdue principal of, premium, if any, and interest on the Notes, to the extent lawful, all in accordance with the terms hereof
and thereof; subject, however, to the limitations set forth in this Article Eleven. 
  
 Failing payment when due of any amount so guaranteed for whatever reason, the Subsidiary Guarantors shall be jointly and severally obligated to pay the same immediately. Each Subsidiary Guarantor hereby agrees that
its obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect
to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each
Subsidiary Guarantor hereby waives diligence, presentment, demand of payments, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and
all demands whatsoever and covenants that this Subsidiary Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes, this Indenture and in this Subsidiary Guarantee. If any Holder or the Trustee is
required by any court or otherwise to return to the Company, any Subsidiary Guarantor, or any custodian, trustee, liquidator or other similar official acting in relation to the Company or any Subsidiary Guarantor, any amount paid by the Company or
any Subsidiary Guarantor to the Trustee or such Holder, this Subsidiary Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. Each Subsidiary Guarantor agrees it shall not be entitled to any right of
subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Subsidiary Guarantor further agrees that, as between each Subsidiary Guarantor, on the one hand,
and the Holders and the Trustee, on the other hand, (x) the maturity of the Obligations guaranteed hereby may be accelerated as provided in Article Six for the purposes of this Subsidiary Guarantee, notwithstanding any stay, injunction or other
prohibition preventing such acceleration in respect of the Obligations guaranteed hereby, and (y) in the event of any acceleration of such Obligations as provided in Article Six, such obligations (whether or not due and payable) shall forthwith
become due and payable by each Subsidiary Guarantor for the purpose of this Subsidiary Guarantee. 
  
 The Subsidiary Guarantee of each Subsidiary Guarantor herein shall be senior to the right of payment of principal of, premium, if any, and accrued and
unpaid interest on all existing and future subordinated Indebtedness of such Subsidiary Guarantor that is subordinated in right of payment to the Notes or the Subsidiary Guarantee. 
  
 Limitation of Subsidiary Guarantor’s Liability. 
  
 Each Subsidiary Guarantor and by its acceptance hereof each Holder hereby confirms that it is the intention of all such
parties that the guarantee by such Subsidiary Guarantor pursuant to its Subsidiary Guarantee not constitute a fraudulent transfer or conveyance for purposes of any federal, state or foreign law. To effectuate the foregoing intention, the Holders and
each Subsidiary Guarantor hereby irrevocably agree that the obligations of each Subsidiary Guarantor under its Subsidiary Guarantee shall be limited to the maximum amount as will, after giving effect to all other contingent and fixed liabilities of
such Subsidiary Guarantor and after giving effect to any collections from or payments made by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other Subsidiary Guarantor under its Subsidiary Guarantee or pursuant
to Section 11.03, result in the 

  

 63 

 
obligations of such Subsidiary Guarantor under the Subsidiary Guarantee not constituting a fraudulent conveyance or fraudulent transfer under federal, state
or foreign law. 
  
 Contribution. 
  
 In order to provide for just and equitable contribution among the Subsidiary
Guarantors, the Subsidiary Guarantors agree, inter se, that in the event any payment or distribution is made by any Subsidiary Guarantor (a “Funding Guarantor”) under the Subsidiary Guarantee, such Funding Guarantor shall be
entitled to a contribution from all other Subsidiary Guarantors in a pro rata amount based on the Adjusted Net Assets of each Subsidiary Guarantor (including the Funding Guarantor) for all payments, damages and expenses incurred by that
Funding Guarantor in discharging the Company’s obligations with respect to the Notes or any other Subsidiary Guarantor’s obligations with respect to the Subsidiary Guarantee. “Adjusted Net Assets” of such Subsidiary
Guarantor at any date shall mean the lesser of the amount by which (x) the fair value of the property of such Subsidiary Guarantor exceeds the total amount of liabilities, including, without limitation, contingent liabilities (after giving effect to
all other fixed and contingent liabilities incurred or assumed on such date), but excluding liabilities under the Subsidiary Guarantee of such Subsidiary Guarantor at such date and (y) the present fair salable value of the assets of such Subsidiary
Guarantor at such date exceeds the amount that will be required to pay the probable liability of such Subsidiary Guarantor on its debts (after giving effect to all other fixed and contingent liabilities incurred or assumed on such date and after
giving effect to any collection from any Subsidiary of such Subsidiary Guarantor in respect of the obligations of such Subsidiary under the Subsidiary Guarantee), excluding debt in respect of the Subsidiary Guarantee of such Subsidiary Guarantor, as
they become absolute and matured. 
  
 Execution and Delivery of
Subsidiary Guarantees. 
  
 Each Subsidiary Guarantor hereby
agrees that its execution and delivery of this Indenture or any supplemental indentures hereof shall evidence its Subsidiary Guarantee set forth in Section 11.01 without the need for any further notation on the Notes. 
  
 Each of the Subsidiary Guarantors hereby agrees that its Subsidiary Guarantee
set forth in Section 11.01 shall remain in full force and effect notwithstanding any failure to endorse on each Note a notation relating to such Subsidiary Guarantee. 
  
 If an Officer of a Subsidiary Guarantor whose signature is on this Indenture or any Supplemental indenture no longer holds
that office at the time the Trustee authenticates such Notes or at any time thereafter, such Subsidiary Guarantor’s Subsidiary Guarantee shall be valid nevertheless. 
  
 The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of any
Subsidiary Guarantee set forth in this Indenture on behalf of the Subsidiary Guarantor. 
  
 Severability. 
  
 In case
any provision of this Subsidiary Guarantee shall be invalid, illegal or unenforceable, that portion of such provision that is not invalid, illegal or unenforceable shall remain in effect, and the validity, legality, and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby. 
  
 Execution of Guarantee. 
  
 To evidence their Guarantee to the Holders set forth in this Article Eleven, the Subsidiary Guarantors hereby agree to execute the Guarantee in substantially the form included in Exhibit E, which shall be endorsed on each Security
ordered to be authenticated and delivered by the Trustee. Each Subsidiary Guarantor hereby agrees that its Guarantee set forth in this Article Eleven shall remain in full force and effect notwithstanding any failure to endorse on each Note a
notation of such Guarantee. Each such Guarantee shall be signed on behalf of each Subsidiary Guarantor by two officers (who shall have been duly authorized by all requisite corporate actions), and delivery of such Security by the Trustee, after the
authentication thereof hereunder, shall constitute due delivery of such Guarantee on behalf of the Subsidiary Guarantor. Such signature upon the Guarantee may be by manual or 

  

 64 

 
facsimile signature of such officers and may be imprinted or otherwise reproduced on the Guarantee, and in case any such officer who shall have signed the
Guarantee shall cease to be such officer before the Note on which such Guarantee is endorsed shall have been authenticated and delivered by the Trustee or disposed of by the Company, such Note nevertheless may be authenticated and delivered or
disposed of as though the Person who signed the Guarantee had not ceased to be such officer of the Subsidiary Guarantor. 
  
 [INTENTIONALLY OMITTED] 
  
 MISCELLANEOUS 
  
 Trust Indenture Act Controls. 
  
 If any provision of this Indenture limits, qualifies, or conflicts with the duties imposed by operation of TIA Section 318(c), the imposed duties shall
control. 
  
 Notices. 
  
 Any notice or communication shall be sufficiently given if in writing and
delivered in person or mailed by certified or registered mail (return receipt requested), telecopier or overnight air courier guaranteeing next day delivery, addressed as follows: 
  
 If to the Company or any Subsidiary Guarantor: 
  
 Landry’s Restaurants, Inc. 
 1510 West Loop South 
 Houston, Texas 77027 
 Attention: Steven L. Scheinthal 
  
 If to the Trustee: 
  
 Wachovia Bank, National Association 
 5847 San Felipe 
 Suit 1050 
 Houston, TX 77057 
 Attention: Corporate Trust Office 
  
 The Company or any
Subsidiary Guarantor or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 
  
 All notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after
being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if telecopied; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 
  
 Any notice or communication mailed to a Holder shall be mailed to him by
first-class mail at his address as it appears on the registration books of the Registrar and shall be sufficiently given to him if so mailed within the time prescribed. Failure to mail a notice or communication to a Holder or any defect in it shall
not affect its sufficiency with respect to other Holders. 
  

 65 

 If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the
addressee receives it. If the Company or any Subsidiary Guarantor mails notice or communications to Holders it shall mail a copy to the Trustee and each Agent at the same time. 
  
 Communication by Holders with Other Holders. 
  
 Holders may communicate pursuant to TIA Section 312(b) with other Holders with respect to their rights under this Indenture
or the Notes. The Company, the Subsidiary Guarantors, the Trustee, the Registrar and anyone else shall have the protection of TIA Section 312(c). 
  
 Certificate and Opinion as to Conditions Precedent. 
  
 Upon any request or application by the Company or any Subsidiary Guarantor to the Trustee to take any action under this Indenture (except with respect to
the initial issuance of the Notes), the Company or such Subsidiary Guarantor, as the case may be, shall furnish to the Trustee, at the request of the Trustee: 
  

an Officers’ Certificate (which shall include the statements set forth in Section 13.05) stating that, in the opinion of the signers, the
conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
  
 an Opinion of Counsel stating that, in the opinion of such counsel, such conditions precedent have been complied with and such other opinions as the
Trustee may reasonably require. 
  
 Statements Required in
Certificate or Opinion. 
  
 Each certificate or opinion with
respect to compliance with a condition or covenant provided for in this Indenture shall include: 
  
 a statement that each person making such certificate or opinion has read such covenant or condition; 
  
 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; 
  
 a statement that, in the opinion of each such person, he has made such examination or investigation as is necessary to enable him to express an informed
opinion as to whether or not such covenant or condition has been complied with; and 
  
 a statement as to whether or not, in the opinion of each such person, such covenant or condition has been complied with. 
  
 Rules by Trustee and Agents. 
  
 The Trustee may make reasonable rules for action by or for a meeting of Holders. The Registrar or Paying Agent may make reasonable rules for its
functions. 
  
 Legal Holidays. 
  
 If a payment date is a not a Business Day at a place of payment, payment may
be made at that place on the next succeeding Business Day, and no interest shall accrue for the intervening period. 
  
 No Personal Liability of Directors, Officers, Employees and Stockholders. 
  
 No director, officer, employee, incorporator or stockholder of the Company or any Subsidiary Guarantor, as such, shall have
any liability for any obligations of the Company or the Subsidiary Guarantors under the Notes, this Indenture, the Subsidiary Guarantees or for any claim based on, in respect of, or by reason of, such obligations 

  

 66 

 
or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. This waiver and release are part of the consideration for
issuance of the Notes. 
  
 Governing Law. 
  
 THIS INDENTURE AND THE NOTES AND THE GUARANTEES SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THE UNDERSIGNED HEREBY AGREE TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES AND
THE GUARANTEES. 
  
 No Adverse Interpretation of Other
Agreements. 
  
 This Indenture may not be used to interpret
another indenture, loan or debt agreement of the Company, any Subsidiary Guarantor or any other Subsidiary. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
  
 Successors. 
  
 All agreements of the Company and the Subsidiary Guarantors in this
Indenture and the Notes shall bind its successor. All agreements of the Trustee in this Indenture shall bind its successor. 
  
 Duplicate Originals. 
  
 The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same
instrument. 
  
 Severability. 
  
 In case any provision in this Indenture or in the Notes shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby, and a Holder shall have no claim therefor against any party hereto. 
  

 67 

  
 SIGNATURES 

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

					
	LANDRY’S RESTAURANTS, INC.
		
	By:	 	 
	 Name:
	 	 Steven L. Scheinthal

	 Title:
	 	 Executive Vice President, Secretary and General Counsel

	
	WACHOVIA BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	C. A. MUER CORPORATION
	CAPT. CRAB’S TAKE-AWAY OF 79TH STREET, INC.
	CHLN, INC.
	CHLN—IDAHO, INC.
	CHLN—MARYLAND, INC.
	CRAB ADDISON, INC.
	CRAB HOUSE, INC.
	CRYO REALTY, CORP.
	CRYOTECH INDUSTRIES OF NORTH CAROLINA, INC.
	FSI DEVCO, INC.
	FSI RESTAURANT DEVELOPMENT, LTD.
	 	 	BY: Saltgrass, Inc., General Partner of FSI Restaurant Development, Ltd.
	HOSPITALITY HEADQUARTERS, INC.
	HOUSTON AQUARIUM, INC.
	INN AT THE BALLPARK CATERING, INC.
	JOE’S CRAB SHACK—DELAWARE, INC.
	JOE’S CRAB SHACK—SAN DIEGO, INC.
	LANDRY’S CRAB SHACK, INC.
	LANDRY’S DEVELOPMENT, INC.
	LANDRY’S DOWNTOWN AQUARIUM, INC.
	LANDRY’S G.P., INC.
	LANDRY’S LIMITED, INC.
	LANDRY’S MANAGEMENT, L.P.
	 	 	BY: Landry’s G.P., Inc., General Partner of Landry’s Management, L.P.
	LANDRY’S PESCE, INC.
	LANDRY’S SEAFOOD HOUSE—ADDISON, INC.
	LANDRY’S SEAFOOD HOUSE—ALABAMA, INC.
	LANDRY’S SEAFOOD HOUSE—ARIZONA, INC.
	LANDRY’S SEAFOOD HOUSE—ARLINGTON, INC.

  

 68 

					
	LANDRY’S SEAFOOD HOUSE—AUSTIN, INC.
	LANDRY’S SEAFOOD HOUSE—BELLEVUE, INC.
	LANDRY’S SEAFOOD HOUSE—BILOXI, INC.
	LANDRY’S SEAFOOD HOUSE—COLORADO, INC.
	LANDRY’S SEAFOOD HOUSE—DELAWARE, INC.
	LANDRY’S SEAFOOD HOUSE—FLORIDA, INC.
	LANDRY’S SEAFOOD HOUSE—GEORGIA, INC.
	LANDRY’S SEAFOOD HOUSE—HAMPTON, INC.
	LANDRY’S SEAFOOD HOUSE—ILLINOIS, INC.
	LANDRY’S SEAFOOD HOUSE—INDIANA, INC.
	LANDRY’S SEAFOOD HOUSE—KANSAS, INC.
	LANDRY’S SEAFOOD HOUSE—KENTUCKY, INC.
	LANDRY’S SEAFOOD HOUSE—LAFAYETTE, INC.
	LANDRY’S SEAFOOD HOUSE—LITTLE ROCK, INC.
	LANDRY’S SEAFOOD HOUSE—MARYLAND, INC.
	LANDRY’S SEAFOOD HOUSE—MEMPHIS, INC.
	LANDRY’S SEAFOOD HOUSE—MICHIGAN, INC.
	LANDRY’S SEAFOOD HOUSE—MINNESOTA, INC.
	LANDRY’S SEAFOOD HOUSE—MISSOURI, INC.
	LANDRY’S SEAFOOD HOUSE—NEVADA, INC.
	LANDRY’S SEAFOOD HOUSE—NEW JERSEY, INC.
	LANDRY’S SEAFOOD HOUSE—NEW MEXICO, INC.
	LANDRY’S SEAFOOD HOUSE—NEW ORLEANS, INC.
	LANDRY’S SEAFOOD HOUSE—NORFOLK, VIRGINIA, INC.
	LANDRY’S SEAFOOD HOUSE—NORTH CAROLINA, INC.
	LANDRY’S SEAFOOD HOUSE—OHIO, INC.
	LANDRY’S SEAFOOD HOUSE—OKLAHOMA, INC.
	LANDRY’S SEAFOOD HOUSE—PENNSYLVANIA, INC.
	LANDRY’S SEAFOOD HOUSE—REDONDO BEACH, INC.
	LANDRY’S SEAFOOD HOUSE—SAN LUIS, INC.
	LANDRY’S SEAFOOD HOUSE—SOUTH CAROLINA, INC.
	LANDRY’S SEAFOOD HOUSE—UTAH, INC.
	LANDRY’S SEAFOOD HOUSE—VIRGINIA, INC.
	LANDRY’S SEAFOOD INN & OYSTER BAR, INC.
	LANDRY’S SEAFOOD INN & OYSTER BAR—GALVESTON, INC.
	LANDRY’S SEAFOOD INN & OYSTER BAR—KEMAH, INC.
	LANDRY’S SEAFOOD INN & OYSTER BAR—SAN ANTONIO, INC.
	LANDRY’S SEAFOOD INN & OYSTER BAR—SUGAR CREEK, INC.
	LANDRY’S SEAFOOD KEMAH, INC.
	LANDRY’S SEAFOOD & STEAK HOUSE—CORPUS CHRISTI, INC.
	LANDRY’S TRADEMARK, INC.
	LCH ACQUISITION, INC.
	LNY-IOWA, INC.
	LSRI HOLDINGS, INC.
	MARINA ACQUISITION CORPORATION OF FLORIDA, INC.
	NEVADA AQUARIUM, INC.
	OCEAN BLUE INDUSTRIES, INC.
	RAINFOREST CAFE, INC.
	RAINFOREST CAFE, INC.—BALTIMORE COUNTY
	RAINFOREST CAFE, INC.—CHA CHA
	RAINFOREST CAFE, INC.—KANSAS
	RAINFOREST TRADEMARK, INC.
	SALTGRASS, INC.
	SEAFOOD HOLDING SUPPLY, INC.
	SUMMIT AIRCRAFT SERVICES, INC.
	SUMMIT ONE NETWORK, INC.

  

 69 

					
	SUMMIT SEAFOOD SUPPLY, INC.
	SUMMIT SUPPLY, INC.
	WEST END SEAFOOD, INC.
	WILLIE G’S GALVESTON, INC.
	WILLIE G’S POST OAK, INC.
	WSI FISH LIMITED
	 	 	BY: Saltgrass, Inc., General Partner of WSI Fish Limited
		
	By:	 	 
	 	 	Name:	 	Steven L. Scheinthal
	 	 	Title:	 	Secretary

  

 70

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