Document:

Exhibit 4.1

 

THE ISSUANCE AND SALE OF THE SECURITY
REPRESENTED BY THIS PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS. THE SECURITY MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (i) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SECURITY UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL, IN A FORM GENERALLY ACCEPTABLE
TO THE COMPANY’S LEGAL COUNSEL, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (ii) UNLESS SOLD PURSUANT TO RULE 144
OR RULE 144A UNDER SAID ACT.

 

THIS NOTE HAS BEEN ISSUED WITH ORIGINAL
ISSUE DISCOUNT (“OID”). PURSUANT TO TREASURY REGULATION §1.1275-3(b)(1), MR STUART BENSON, A REPRESENTATIVE OF
THE COMPANY HEREOF WILL, BEGINNING TEN DAYS AFTER THE ISSUANCE DATE OF THIS NOTE, PROMPTLY MAKE AVAILABLE TO THE HOLDER UPON REQUEST
THE INFORMATION DESCRIBED IN TREASURY REGULATION §1.1275-3(b)(1)(i). MR BENSON MAY BE REACHED AT TELEPHONE NUMBER 212) 979-8228.

 

DEMAND PROMISSORY NOTE

 

	$6,200,000	July 27, 2018
	 	New York, New York

 

FOR VALUE RECEIVED,
Helios and Matheson Analytics Inc., a Delaware corporation (the “Maker”), promises to pay to the order
of HUDSON BAY MASTER FUND LTD or its assigns (“Holder”), the principal amount of Six Million and Eight
Hundred Thousand Dollars ($6,200,000) (the “Principal”), which includes $5,000,000 in cash borrowed by the Maker
from the Holder on the date hereof and $1,200,000 of original issue discount. No additional interest shall accrue hereunder other
than Late Charges (as defined below) upon the failure to pay amounts outstanding hereunder.

 

1. 
Payment on Demand. The entire unpaid Principal of this demand promissory note (this “Note”), together
with accrued and unpaid Late Charges hereunder, shall be due and payable at any time, or from time to time, upon a demand made
by Holder for any reason or no reason from and after (x) with respect to up to Three Million and Four Hundred Thousand Dollars
($3,100,000) of the Principal outstanding under this Note (the “Initial Principal”), August 1, 2018 or (y) with
respect to any other amounts then outstanding under this Note, August 5, 2018. All demands for repayment received by the Maker
prior to 4:00 P.M. New York city time on a given date shall be paid to the Holder on such given date. All demands for repayment
received by the Maker after 4:00 P.M. New York city time on a given date shall be paid to the Holder on the immediately following
business day. The Maker will pay to the Holder of this Note on demand such further amount as shall be sufficient to cover all costs
and expenses of such Holder incurred in the drafting and negotiation of this Note and all costs and expenses of any enforcement
or collection of this Note, including, without limitation, reasonable attorneys’ fees, expenses and disbursements. Payments
shall be credited first to the accrued Late Charges then due and payable and the remainder applied to Principal.

 

     

     

    

 

2. 
Prepayment; Mandatory Prepayment. Prepayment of principal, together with accrued and unpaid Late Charges, may be
made at any time without notice, premium or penalty. With the agreement of Holder, the Principal and accrued and unpaid Late Charges
under this Note may be applied to all, or any part, of the purchase price of securities to be issued upon the consummation after
the date hereof of an offering of securities by Maker to Holder. So long as any amounts remain outstanding hereunder, all proceeds received by the Company on or after July
31, 2018 from sales of Common Stock pursuant to the ATM (as defined in the June Note (as defined in the Waiver Agreement (as defined
below))), without regard to whether such proceeds were derived from sales of Common Stock (as defined in the Waiver Agreement)
occurring prior to, on or after July 31, 2018 (the “ATM Proceeds”), shall be used to repay this Note (such portion of any given ATM Proceeds required
to be mandatorily paid to the Holder hereunder, each an “ATM Mandatory Payment”). Any ATM Mandatory Payment
received by the Maker prior to 4:00 P.M. New York city time on a given date shall be paid to the Holder on such given date. Any
ATM Mandatory Payment received by the Maker after 4:00 P.M. New York city time on a given date shall be paid to the Holder on the
immediately following business day. All ATM Mandatory Payments shall be made in U.S. dollars and immediately available funds in
accordance with the wire transfer instructions of the Holder delivered to the Maker on or prior to such applicable payment date
and shall be applied, first, against any Initial Principal (until no Initial Principal remains outstanding hereunder) and,
thereafter, shall be applied against any remaining amounts then outstanding hereunder. The Maker shall deliver written notice
of any transactions with respect to the ATM as soon as commercially practicable following the close of the Nasdaq Capital Market
on such date of determination, but in no event later than 8:00 AM, New York city time, on the calendar day immediately following
the date of such transaction.

 

3. 
Representations and Warranties of Maker. Maker represents and warrants as follows as of the date hereof: (a) it
is duly organized, validly existing and in good standing under the laws of its state of Delaware; (b) the execution, delivery
and performance by Maker of this Note are within Maker's powers, have been duly authorized by all necessary actions, and do not
contravene its governing agreements, certificates or other organization documents, and do not contravene any law or any contractual
restriction binding on or affecting Maker; (c) no authorization or approval or other action by, and no notice to or filing
with any governmental authority or regulatory body is required for the due execution, delivery and performance by Maker of this
Note; (d) this Note constitutes the legal, valid and binding obligation of Maker party thereto, enforceable against Maker
in accordance with its terms, except to the extent enforceability is limited by bankruptcy, insolvency, fraudulent conveyance,
moratorium and other laws for the protection of creditors generally and by general equitable principles; (e) after receipt of all
cash amounts to be paid to the Maker on the date hereof pursuant to this Note, the Maker and MoviePass expects to have sufficient
capital to continue operations through and including at least August 1, 2018; and (f)  there is no pending or, to Maker's
knowledge, threatened action or proceeding affecting Maker before any governmental agency or arbitrator with respect to the transactions
contemplated by this Note or which may materially adversely affect the property, assets or condition (financial or otherwise) of
Maker.

 

4. 
Late Charges. Any amount of principal or other amounts due under the Loan Documents which is not paid when due (a
“Payment Default”) shall result in a late charge being incurred and payable by the Maker in an amount equal
to interest on such amount at the rate of fifteen percent (15%) per annum from the date such amount was due until the same is paid
in full (the “Late Charges”).

 

    	 	-2-	 

     

    

 

5. 
Use of Proceeds. Maker shall immediately on the date hereof pay the proceeds of this Note to fund the general working
capital of MoviePass, Inc., a Delaware corporation (“MoviePass”), and not for any other purpose.

 

6. 
Security.

 

(a) Grant
of Security Interest. The Maker hereby grants and pledges to the Holder a continuing security interest in the ATM
Proceeds (if any, including any and all cash, proceeds, funds, credits, rights and other assets therein or arising therefrom,
from time to time, and any additions, dividends, profits and interest in the foregoing and any replacements or substitutions
therefore (collectively, the “Collateral”) to secure prompt repayment of any and all amounts outstanding
hereunder from time to time and to secure prompt performance by the Maker of each of its covenants and duties under this
Note. Such security interest constitutes a valid, first priority security interest in the Collateral, and will constitute a
valid, first priority security interest in later-acquired Collateral. Notwithstanding any filings undertaken related to the
Holder’s rights under the Delaware Uniform Commercial Code, the Holder’s Lien on the Collateral shall remain in
effect for so long as this Note remains outstanding.

 

(b) Guaranty.
Promptly after the date hereof, MoviePass shall execute and deliver the guaranty, in the form attached hereto as Exhibit
A, pursuant to which MoviePass has guaranteed all payment obligations of Maker hereunder.

 

7. 
Disclosure. The Maker shall, on or before 9:30 a.m., New York City time on July 27, 2018, file a Current Report
on Form 8-K describing this Note and the transactions contemplated hereby in the form required by the Securities Exchange Act of
1934, as amended, and attaching the form of this Note as an exhibit to such filing (including all attachments, the “8-K
Filing”). From and after the filing of the 8-K Filing, the Maker shall have disclosed all material, non-public information
(if any) provided up to such time to the Holder by the Maker or any of its Subsidiaries or any of their respective officers, directors,
employees or agents. In addition, effective upon the filing of the 8-K Filing, the Maker acknowledges and agrees that any and all
confidentiality or similar obligations under any agreement with respect to the transactions contemplated hereby or as otherwise
disclosed in the 8-K Filing, whether written or oral, between the Maker, any of its Subsidiaries or any of their respective officers,
directors, affiliates, employees or agents, on the one hand, and any of the Holder or any of their affiliates, on the other hand,
shall terminate. Neither the Maker, its Subsidiaries nor the Holder shall issue any press releases or any other public statements
with respect to the transactions contemplated hereby; provided, however, the Maker shall be entitled, without the prior approval
of the Holder, to make a press release or other public disclosure with respect to such transactions (i) in substantial conformity
with the 8-K Filing and contemporaneously therewith or (ii) as is required by applicable law and regulations (provided that in
the case of clause (i) the Holder shall be consulted by the Maker in connection with any such press release or other public disclosure
prior to its release). Without the prior written consent of the Holder (which may be granted or withheld in the Holder’s
sole discretion), except as required by applicable law, the Maker shall not (and shall cause each of its Subsidiaries and affiliates
to not) disclose the name of the Holder in any filing, announcement, release or otherwise.

 

    	 	-3-	 

     

    

 

8. 
Indemnification. Maker hereby indemnifies and holds harmless Holder, each of its affiliates and correspondents and
each of their respective directors, officers, employees, agents and advisors (each an “Indemnified Party”) from
and against any and all actions, claims, damages, losses, liabilities, fines, penalties, costs and expenses of any kind (including,
without limitation, counsel fees and disbursements in connection with any subpoena, investigative, administrative or judicial proceeding,
whether or not the Indemnified Party shall be designated a party thereto) which may be incurred by the Indemnified Party or which
may be claimed against the Indemnified Party by any person by reason of or in connection with the execution, delivery or performance
of this Note, or action taken or omitted to be taken by Holder under, this Note. Nothing in this paragraph is intended to limit
Maker’s obligations contained elsewhere in this Note. Without prejudice to the survival of any other obligation of Maker
hereunder, the indemnities and obligations of Maker contained in this paragraph shall survive the payment in full of all obligations
hereunder.

 

9. 
No Distributions. Other than the cash proceeds of this Note, the Maker shall not, directly or indirectly, transfer
(whether by wire transfer, check, contribution, purchase of securities or any assets of a Subsidiary, intercompany loan or otherwise)
any cash or other assets to any Subsidiary of the Maker as long as this Note remains outstanding.

 

10.  Waiver.
Reference is hereby made to that certain Waiver Agreement (as amended, the “Waiver Agreement”), dated July
10, 2018, by and between Maker and the Holder. Holder hereby waives any prohibition set forth in the Existing Notes (as
defined in the Waiver Agreement) solely with respect to the issuance of this Note to the Holder and the grant of security
interest in the Collateral to the Holder hereunder.

 

11.  Alternate
Payment Upon Extended Payment Default. If a Payment Default hereunder remains outstanding for a period of forty-eight
(48) hours, at any time thereafter the Holder may, by delivery of a written notice to the Maker (each, an “Alternate
Payment Notice”), require the Maker to redeem all, or any part, of this Note (as set forth in such Alternate
Payment Notice) (such aggregate portion of this Note to be redeemed, each, an “Alternate Payment Amount”)
at a redemption price equal to 130% of such Alternate Payment Amount as set forth in such Alternate Payment Notice (each, an
“Alternate Payment”). Upon the consummation of an Alternate Payment, the corresponding Alternate Payment
Amount of this Note shall no longer remain outstanding and shall be deemed satisfied in full.

 

12.  Miscellaneous.

 

(a) All
amounts to be paid by hereunder shall be paid when due by wire transfer in United States dollars and immediately
available funds in accordance with the wire instructions delivered to such party entitled to receive such payment prior to
such date; provided, that the Principal shall be paid by Holder directly to MoviePass on the date hereof.

 

(b) If
any payment on this Note shall become due on a Saturday, Sunday or a bank or legal holiday, such payment shall be made on the
next succeeding business day.

 

    	 	-4-	 

     

    

 

(c) No
course of dealing and no delay on the part of the Holder of this Note in exercising any right, power or remedy shall operate
as a waiver thereof or otherwise prejudice such Holder’s rights, powers or remedies. No right, power or remedy
conferred by this Note upon the Holder hereof shall be exclusive of any other right, power or remedy referred to herein or
now or hereafter available at law, in equity, by statute or otherwise.

 

(d)
Maker hereby waives presentment, protest and demand, notice of protest, demand and dishonor and nonpayment of this Note.

 

(e) If
Late Charges or other amounts payable under this Note is in excess of the maximum permitted by law, the Late Charges or other
amounts chargeable hereunder shall be reduced to the maximum amount permitted by law and any excess over the maximum amount
permitted by law shall be credited to the principal balance of this Note and applied to the same and not to the payment of
Late Charges or such other amounts, as applicable.

 

(f)
Maker hereby (i) irrevocably submits to the jurisdiction of any Illinois State or Federal court sitting in Chicago,
Illinois in any action or proceeding arising out of or relating to this Note, (ii) waive any defense based on doctrines
of venue or forum non conveniens, or similar rules or doctrines and (iii) irrevocably agree that all claims in respect
of such an action or proceeding may be heard and determined in such Illinois State or Federal court. This Note shall be
governed by, and construed in accordance with, the laws of the State of Illinois. Maker
HEREBY waiveS any right to trial by jury in any action, proceeding or counterclaim arising out of or relating to this
Note.

 

(g) This
Note shall be binding upon and inure to the benefit of Maker and Holder and their respective successors, assigns, heirs and
legal representations, except that Maker may not assign any rights or obligations hereunder without the prior written
consent of Holder. Holder may assign to other affiliated entities all or a portion of its rights under this Note.

 

(h)
Maker acknowledges that the transaction of which this Note is a part is a commercial transaction and hereby waives its right
to any notice and hearing as may be allowed by any state or federal law with respect to any prejudgment remedy which any
Holder or its successors or assigns may use.

 

(i)
Maker hereby agrees to pay on demand all reasonable costs and expenses (including, without limitation, all reasonable fees,
expenses and other client charges of counsel to Holder) incurred by Holder in connection herewith and with the
enforcement of Holder's rights, and the collection of all amounts due, hereunder. The Holder of this Note may proceed to
protect and enforce the rights of such Holder by an action at law, suit in equity or other appropriate proceeding, whether
for the specific performance of any agreement contained herein, or for an injunction against a violation of any of the terms
hereof or thereof, or in aid of the exercise of any power granted hereby or thereby or by law or otherwise.

 

(j) If
this Note is lost or destroyed, Maker shall, at Holder's request, execute and return to Holder a replacement promissory note
identical to this Note. No replacement of this Note shall result in a novation of Maker's obligations under this Note. Maker
acknowledges the need to act promptly upon its receipt of the documentation evidencing any request by Holder that the Note be
replaced pursuant to this paragraph and agrees that Maker will meet the reasonable deadlines of Holder provided that Maker
has received the applicable documents at least ten (10) business days prior to such deadline. Furthermore, Maker agrees to
reasonably cooperate with Holder to effectuate the obtainment of such title policy endorsements, or new title evidence and
other assurances and documents as Holder shall reasonably require.

 

[The remainder of the page is intentionally left blank]

 

    	 	-5-	 

     

    

 

IN WITNESS WHEREOF,
this Note has been executed as of the date first written above.

 

	 	HELIOS AND MATHESON ANALYTICS INC.
	 	 
	 	By:	/s/ Theodore Farnsworth
	 	 	Name: Theodore Farnsworth
	 	 	Title: Chief Financial Officer

 

Agreed and accepted by:

 

	HUDSON BAY MASTER FUND LTD	 
	 	 	 
	By:	/s/ Yoav Roth	 
	 	Name: Yoav Roth 	 
	 	Title: Authorized Signatory	 

 

    	 	-6-Exhibit 4(f)

 

CALCULATION AGENCY AGREEMENT

BETWEEN

 

MCDONALD’S CORPORATION

AND

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

 

MEDIUM TERM NOTES

 

THIS AGREEMENT is made as of, July 27, 2018, between MCDONALD’S CORPORATION whose principal executive office is at 110 North Carpenter Street, Chicago, Illinois 60607 (the “Corporation”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, whose designated corporate trust office is at 2 North LaSalle Street, Suite 700, Chicago, Illinois 60602 (together with any successor, called the “Calculation Agent”).

 

W I T N E S S E T H :

 

WHEREAS, the Corporation proposes to issue, from time to time, an indeterminate number and amount of its Medium-Term Notes and those Notes may be designated as Fixed Rate or Floating Rate (altogether, the “Notes”).  The Notes will be offered by the Corporation through the Agents from time to time party to the Distribution Agreement, dated as of September 28, 2009, as amended (the “Underwriters”).  The Notes are to be issued under an Indenture, dated as of October 19, 1996, by and between the Corporation and U.S. Bank National Association (formerly, First Union National Bank), as Trustee (the “Trustee”) (the “Indenture”).  The Notes are to be sold pursuant to the terms of the Prospectus and Prospectus Supplement, each dated July 27, 2018 (together, the “Prospectus”), or any prospectus supplement or pricing supplement filed by the Corporation pursuant to Rule 424(b) under the Securities Act relating to the Notes subsequent to the date of this Agreement.  Terms used but not defined herein shall have the meanings assigned to them in the Prospectus relating to the Notes.

 

For the purpose of appointing an agent to calculate the interest rate on the Notes, based on LIBOR as described in the Prospectus, the Corporation and The Bank of New York Mellon Trust Company, N.A. agree as follows:

 

1.                                      Upon the terms and subject to the conditions contained herein, the Corporation hereby appoints the Calculation Agent as its Calculation Agent and Calculation Agent hereby accepts such appointment as the Corporation’s agent for the purpose of calculating the interest rates and the interest amounts due on the applicable Payment Dates on the Notes in the manner and at the times provided in the Notes and the Prospectus and the related issuer free writing prospectus.

 

 

2.                                      The Calculation Agent shall exercise due care to determine the interest rates and the interest amounts due on the applicable Payment Dates on the Notes and shall communicate the same to the Corporation, the Trustee, The Depository Trust Company and any paying agent identified to it in writing as soon as practicable after each determination.  The Calculation Agent will, upon the request of the holder of any Note, provide the interest rate then in effect with respect to such Note and, if determined, the interest rate with respect to such Note which will become effective on the next interest payment date.  No amendment to the provisions of the Notes relating to the duties or obligations of the Calculation Agent hereunder may become effective without the prior written consent of the Calculation Agent, which consent shall not be unreasonably withheld.

 

3.                                      The Calculation Agent accepts its obligations set forth herein, upon the terms and subject to the conditions hereof, including the following, to all of which the Corporation agrees:

 

(a)                                 The Calculation Agent shall be entitled to such compensation as may be agreed upon with the Corporation for all services rendered by the Calculation Agent in accordance with this Agreement, and the Corporation promises to pay such compensation and to reimburse the Calculation Agent for the reasonable out-of-pocket expenses (including attorneys’ and other professionals’ fees and expenses) incurred by it in connection with the services rendered by it hereunder upon receipt of such invoices as the Corporation shall reasonably require.

 

(b)                                 The Corporation agrees to indemnify the Calculation Agent for, and to hold it harmless against, any and all loss, liability, damage, claim or expense (including the costs and expenses of defending against any claim (regardless of who asserts such claim) of liability) incurred by the Calculation Agent that arises out of or in connection with its accepting appointment as, or acting as, Calculation Agent hereunder, except such as may result from the negligence, willful misconduct or bad faith of the Calculation Agent or any of its agents or employees; provided the Corporation shall be entitled to retain counsel and control the defense of any third party claim subject to indemnification under this Agreement.  The Calculation Agent shall have the right to employ separate counsel in any such action or proceeding and participate in the investigation and defense thereof, and the Corporation shall pay the reasonable fees and expenses of such separate counsel; provided, however, that the Calculation Agent may only employ separate counsel at the expense of the Corporation if in the judgement of the Calculation Agent (i) a conflict of interest exists by reason of common representation or (ii) there are legal defenses available to the Calculation Agent that are different from or are in addition to those available to the Corporation or if all parties commonly represented do not agree as to the action (or inaction) of counsel. The Calculation Agent shall not be liable for any error resulting from the use of or reliance on a source of information used in good faith and with due care to calculate any interest rate hereunder.  The provisions of this section shall survive the termination of this Agreement.

 

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(c)                                  In acting under this Agreement and in connection with the Notes, the Calculation Agent is acting solely as agent for the Corporation and does not assume any obligations to or relationship of agency or trust for or with any of the owners or holders of the Notes.

 

(d)                                 The Calculation Agent shall be protected and shall incur no liability for or in respect of any action taken or omitted to be taken or anything suffered by it in reliance upon the terms of the Notes, any notice, direction, certificate, affidavit, document or communication reasonably believed by it in good faith to be genuine and to have been approved or signed by the proper party or parties of the Corporation.

 

(e)                                  The Calculation Agent, its officers, directors, employees and shareholders may become the owners of, or acquire any interest in, any Notes, with the same rights that it or they would have if the Calculation Agent were not the Calculation Agent, and may engage or be interested in any financial or other transaction with the Corporation as freely as if the Calculation Agent were not the Calculation Agent.

 

(f)                                   Neither the Calculation Agent nor its officers, directors or employees shall be liable to the Corporation for any act or omission hereunder, or for any error of judgment made in good faith by it or them, except in the case of its or their negligence, willful misconduct or bad faith.

 

(g)                                  The Calculation Agent shall be obligated to perform such duties and only such duties as are herein specifically set forth, and no implied duties or obligations shall be read into this Agreement against the Calculation Agent.

 

(h)                                 Unless herein otherwise specifically provided, any order, certificate, notice, request, direction or other communication from the Corporation made or given by it under any provision of this Agreement shall be sufficient if signed by any officer of the Corporation or any other employee delegated authority to provide communication on behalf of the Corporation to the Calculation Agent in a certificate signed by the Treasurer or Assistant Treasurer of the Corporation and provided to the Calculation Agent.

 

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

 

(j)                                    In no event shall the Calculation Agent be responsible or liable for any failure or delay in the performance of its obligations under this Agreement arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and

 

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interruptions, loss or malfunctions of utilities, communications or computer (software or hardware) services.

 

(k)                                 The Corporation will not, without first obtaining the prior written consent of the Calculation Agent, make any change to the Notes if such change would materially and adversely affect the Calculation Agent’s duties and obligations under this Agreement.

 

4.                                      (a)                                 The Calculation Agent may at any time resign as Calculation Agent by giving written notice to the Corporation of such intention on its part, specifying the date on which its desired resignation shall become effective; provided, however, that such date shall never be less than 30 days after the receipt of such notice by the Corporation, unless the Corporation expressly agrees to accept less notice.  The Calculation Agent may be removed at any time by the filing with it of any instrument in writing signed on behalf of the Corporation and specifying such removal and the date when such removal is intended to become effective.  Such resignation or removal shall take effect upon the date of the appointment by the Corporation, as hereinafter provided, of a successor Calculation Agent and acceptance by the successor Calculation Agent of such appointment.  If within 30 days after notice of resignation or removal has been given, a successor Calculation Agent has not been appointed, the Calculation Agent may, at the expense of the Corporation, petition a court of competent jurisdiction to appoint a successor Calculation Agent.  A successor Calculation Agent shall be appointed by the Corporation by an instrument in writing signed on behalf of the Corporation and the successor Calculation Agent.  Upon the appointment of a successor Calculation Agent and acceptance by it of such appointment, the Calculation Agent so succeeded shall cease to be the Calculation Agent hereunder.  Upon its resignation or removal, the Calculation Agent shall be entitled to the payment by the Corporation of its compensation, if any is owed to it, for services rendered hereunder and to the reimbursement of all reasonable out-of-pocket expenses incurred in connection with the services rendered by it hereunder and to the payment of all other amounts owed to it hereunder.

 

(b)                                 Any successor Calculation Agent appointed hereunder shall execute and deliver to its predecessor and to the Corporation an instrument accepting such appointment hereunder, and thereupon such successor Calculation Agent, without any further act, deed or conveyance, shall become vested with all the authority, rights, powers, trusts, immunities, duties and obligations of such predecessor with like effect as if originally named as such Calculation Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon become obliged to transfer and deliver, and such successor Calculation Agent shall be entitled to receive, copies of any relevant records maintained by such predecessor Calculation Agent.

 

(c)                                  Any corporation into which the Calculation Agent may be merged, or any corporation with which the Calculation Agent may be consolidated, or any corporation resulting from any merger or consolidation or to which the Calculation Agent

 

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shall sell or otherwise transfer all or substantially all of its corporate trust assets or business shall, to the extent permitted by applicable law, be the successor Calculation Agent under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties hereto.  Notice of any such merger, consolidation or sale shall forthwith be given to the Corporation and the Trustee.

 

5.                                      Any notice required to be given hereunder shall be delivered in person, sent by letter or telecopy or communicated by telephone (subject, in the case of communication by telephone or by telecopy, to confirmation dispatched within twenty-four hours by letter), in the case of the Corporation, to 110 North Carpenter Street, Chicago, Illinois 60607, telephone: (630) 623-3000; Attention: Treasurer, in the case of The Bank of New York Mellon Trust Company, N.A., to Corporate Trust Administration, 2 North LaSalle Street, Suite 700, Chicago, Illinois 60602, telephone: (312) 827-8639, fax: (312) 827-8542 and, in the case of The Depository Trust Company, to Manager Announcements, Dividend Department, The Depository Trust Company, 55 Water Street - 25th Floor, New York, New York 10041, telecopy: (212) 855-4555 or (212) 709-1263, or to any other address of which any party shall have notified the others in writing as herein provided.  Any notice hereunder given by telephone, telecopy or letter shall be deemed to be received when in the ordinary course of transmission or post, as the case may be, it would be received.

 

6.                                      The Calculation Agent agrees to accept and act upon instructions or directions pursuant to this Agreement sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods, provided, however, that the Calculation Agent shall have received an incumbency certificate listing persons designated to give such instructions or directions and containing specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from the listing.  If the Corporation elects to give the Calculation Agent e-mail or facsimile instructions (or instructions by a similar electronic method) and the Calculation Agent in its discretion elects to act upon such instructions, the Calculation Agent’s reasonable understanding of such instructions shall be deemed controlling.  In the event of any inconsistent or conflicting instructions, the Calculation Agent shall use reasonable means to seek clarification from the Corporation.  The Calculation Agent shall not be liable for any losses, costs or expenses arising directly or indirectly from the Calculation Agent’s reasonable reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction.  The Corporation agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Calculation Agent, including without limitation the risk of the Calculation Agent acting on unauthorized instructions, and the risk or interception and misuse by third parties.

 

7.                                      This Agreement and the Calculation Agent’s appointment as Calculation Agent hereunder shall be construed and enforced in accordance with the laws of the State of Illinois applicable to agreements made and to be performed entirely within

 

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such state, and without regard to conflicts of laws principles, and shall inure to the benefit of, and the obligations created hereby shall be binding upon, the successors and assigns of each of the parties hereto.

 

8.                                      This Agreement may be executed by each of the parties hereto in any number of counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all such counterparts shall together constitute one and the same agreement.

 

9.                                      In the event of any conflict relating to the rights or obligations of the Calculation Agent in connection with the calculation of the interest rate on the Notes, the relevant terms of this Agreement shall govern such rights and obligations.

 

10.                               EACH OF THE CORPORATION AND THE CALCULATION AGENT HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTION CONTEMPLATED HEREBY.

 

11.                               In order to comply with laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering and the Customer Identification Program requirements under the USA PATRIOT Act and its implementing regulations, pursuant to which the Calculation Agent must obtain, verify and record information that allows the Calculation Agent to identify customers (“Applicable Law”), the Calculation Agent is required to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Calculation Agent.  Accordingly, the Company agrees to provide to the Calculation Agent within ten (10) business days of its request from time to time such identifying information and documentation as may be available for such party in order to enable the Calculation Agent to comply with Applicable Law.

 

12.                               If LIBOR has been permanently discontinued, the Calculation Agent will use as directed by the Corporation, as a substitute for LIBOR and for each future Interest Determination Date, the alternative reference rate selected by the central bank, reserve bank, monetary authority or any similar institution (including any committee or working group thereof) that is consistent with accepted market practice (the “Alternative Rate”).  As part of such substitution, the Calculation Agent will, as directed by the Corporation, make such adjustments to the Alternative Rate or the spread thereon, as well as the Business Day convention, Interest Determination Dates and related provisions and definitions (“Adjustments”), in each case that are consistent with accepted market practice for the use of such Alternative Rate for debt obligations such as the Notes.  If there is no clear market consensus as to whether any rate has replaced LIBOR in customary market usage, the Corporation may remove the Calculation Agent and appoint a replacement entity to serve as Calculation Agent.

 

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

 

 

	
 
    	
 
    	
MCDONALD’S CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Karen A. Matusinec
    
	
 
    	
 
    	
 
    	
Name:  Karen   A. Matusinec
    
	
 
    	
 
    	
 
    	
Title:    Corporate Senior Vice President and Treasurer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
THE BANK OF NEW YORK MELLON
   TRUST COMPANY, N.A., 
   as Calculation Agent
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Richard Tarnas
    
	
 
    	
 
    	
 
    	
Name:  Richard   Tarnas
    
	
 
    	
 
    	
 
    	
Title:  Vice   President
    

 

[Signature Page to Calculation Agency Agreement]

 

7

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