Document:

EXHIBIT 4.3

 Exhibit 4.3 
 FORM OF SUBORDINATED INDENTURE 
  

 
  

 
  

Indenture 

Dated as of [                    ]

 Subordinate Debt Securities 
  

 
 [ISSUER]

 Issuer, 
 EACH OF THE GUARANTORS 
 NAMED HEREIN, 

Guarantors, 
 and

 [TRUSTEE] 
 Trustee 
  
  

 

 [ISSUER] 
 Reconciliation and tie between Trust Indenture Act 
 of 1939 and
Indenture, dated as of [                    ] 
  

					
	 Trust Indenture
 Act Section
	 	 	  	Indenture Section
	 § 310(a)(1)
	 		  	        6.08
	    310(a)(2)
	 		  	        6.08
	    310(a)(3)
	 		  	        N/A
	    310(a)(4)
	 		  	        N/A
	    310(a)(5)
	 		  	        6.08
	    310(b)
	 		  	        6.05, 6.09
	 § 311
	 		  	        6.05, 6.06
	 § 312(a)
	 		  	        7.01
	    312(b)
	 		  	        7.01
	    312(c)
	 		  	        7.01
	 § 313(a)
	 		  	        7.02
	    313(b)
	 		  	        7.02
	    313(c)
	 		  	        6.01, 7.02
	    313(d)
	 		  	        7.02
	 § 314(a)
	 		  	        10.06, 10.07
	    314(b)
	 		  	        N/A
	    314(c)
	 		  	        N/A
	    314(d)
	 		  	        N/A
	    314(e)
	 		  	        1.02
	 § 315(a)
	 		  	        6.01
	    315(b)
	 		  	        6.02
	    315(c)
	 		  	        6.01
	    315(e)
	 		  	        5.15
	 § 316(a)
	 		  	        5.12, 5.13
	    316(b)
	 		  	        5.08
	    316(c)
	 		  	        1.04

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	PARTIES	  	 	1	  
	RECITALS OF THE COMPANY	  	 	1	  
		
	ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 	  	 	1	  
			
	 Section 1.01
	  	Definitions.	  	 	1	  
	 Section 1.02
	  	Compliance Certificates and Opinions.	  	 	7	  
	 Section 1.03
	  	Form of Documents Delivered to Trustee.	  	 	8	  
	 Section 1.04
	  	Acts of Holders.	  	 	8	  
	 Section 1.05
	  	Notices, etc., to Trustee, Company or Guarantors.	  	 	10	  
	 Section 1.06
	  	Notice to Holders, Waiver.	  	 	10	  
	 Section 1.07
	  	Conflict of any Provision of Indenture with Trust Indenture Act.	  	 	11	  
	 Section 1.08
	  	Effect of Headings and Table of Contents.	  	 	11	  
	 Section 1.09
	  	Successors and Assigns.	  	 	11	  
	 Section 1.10
	  	Separability Clause.	  	 	11	  
	 Section 1.11
	  	Benefits of Indenture.	  	 	11	  
	 Section 1.12
	  	Counterparts.	  	 	11	  
	 Section 1.13
	  	Governing Law.	  	 	11	  
	 Section 1.14
	  	Legal Holidays.	  	 	12	  
	 Section 1.15
	  	Agent for Service; Submission to Jurisdiction; Waiver of Immunities and Jury Trial.	  	 	12	  
	 Section 1.16
	  	Currency.	  	 	13	  
		
	ARTICLE II SECURITY FORMS 	  	 	13	  
			
	 Section 2.01
	  	Forms Generally.	  	 	13	  
	 Section 2.02
	  	Global Securities.	  	 	14	  
		
	ARTICLE III THE SECURITIES 	  	 	15	  
			
	 Section 3.01
	  	Title and Terms.	  	 	15	  
	 Section 3.02
	  	Denominations.	  	 	18	  
	 Section 3.03
	  	Execution, Authentication, Delivery and Dating.	  	 	18	  
	 Section 3.04
	  	Temporary Securities.	  	 	19	  
	 Section 3.05
	  	Registration, Registration of Transfer and Exchange.	  	 	20	  
	 Section 3.06
	  	Book-Entry Provisions for Restricted Global Security.	  	 	21	  
	 Section 3.07
	  	Mutilated, Destroyed, Lost and Stolen Securities.	  	 	22	  
	 Section 3.08
	  	Payment of Interest; Rights to Interest Preserved.	  	 	23	  
	 Section 3.09
	  	Persons Deemed Owners.	  	 	24	  
	 Section 3.10
	  	Cancellation.	  	 	25	  
	 Section 3.11
	  	CUSIP and CINS Numbers.	  	 	25	  
	 Section 3.12
	  	Computation of Interest.	  	 	25	  

  
 i 

							
	 Section 3.13
	  	Form of Certificate of Authentication. 	  	 	25	  
		
	ARTICLE IV SATISFACTION AND DISCHARGE 	  	 	26	  
			
	 Section 4.01
	  	Satisfaction and Discharge of Indenture.	  	 	26	  
	 Section 4.02
	  	Application of Trust Money.	  	 	27	  
		
	ARTICLE V REMEDIES 	  	 	27	  
			
	 Section 5.01
	  	Events of Default.	  	 	27	  
	 Section 5.02
	  	Acceleration of Maturity; Rescission and Annulment.	  	 	29	  
	 Section 5.03
	  	Collection of Indebtedness and Suits for Enforcement by Trustee.	  	 	30	  
	 Section 5.04
	  	Trustee May File Proofs of Claim.	  	 	31	  
	 Section 5.05
	  	Trustee May Enforce Claims Without Possession of Securities.	  	 	31	  
	 Section 5.06
	  	Application of Money Collected.	  	 	32	  
	 Section 5.07
	  	Limitation on Suits.	  	 	32	  
	 Section 5.08
	  	Unconditional Right of Holders to Receive Principal and Interest.	  	 	33	  
	 Section 5.09
	  	Restoration of Rights and Remedies.	  	 	33	  
	 Section 5.10
	  	Rights and Remedies Cumulative.	  	 	33	  
	 Section 5.11
	  	Delay or Omission Not Waiver.	  	 	33	  
	 Section 5.12
	  	Control by Holders.	  	 	33	  
	 Section 5.13
	  	Waiver of Past Defaults.	  	 	34	  
	 Section 5.14
	  	Waiver of Stay or Extension Laws.	  	 	34	  
	 Section 5.15
	  	Undertaking for Costs.	  	 	34	  
		
	ARTICLE VI THE TRUSTEE 	  	 	35	  
			
	 Section 6.01
	  	Certain Duties and Responsibilities.	  	 	35	  
	 Section 6.02
	  	Notice of Defaults.	  	 	35	  
	 Section 6.03
	  	Certain Rights of Trustee.	  	 	36	  
	 Section 6.04
	  	Trustee Not Responsible for Recitals or Issuance of Securities.	  	 	37	  
	 Section 6.05
	  	May Hold Securities.	  	 	37	  
	 Section 6.06
	  	Money Held in Trust.	  	 	37	  
	 Section 6.07
	  	Compensation and Reimbursement.	  	 	37	  
	 Section 6.08
	  	Corporate Trustee Required; Eligibility.	  	 	38	  
	 Section 6.09
	  	Resignation and Removal; Appointment of Successor.	  	 	38	  
	 Section 6.10
	  	Acceptance of Appointment by Successor.	  	 	40	  
	 Section 6.11
	  	Merger, Conversion, Consolidation or Succession to Business.	  	 	41	  
		
	ARTICLE VII HOLDERS’ LISTS AND REPORTS BY TRUSTEE 	  	 	41	  
			
	 Section 7.01
	  	Disclosure of Names and Addresses of Holders.	  	 	41	  
	 Section 7.02
	  	Reports by Trustee.	  	 	42	  

  
 ii 

							
	ARTICLE VIII CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 	  	 	42	  
			
	 Section 8.01
	  	Company and Guarantors May Consolidate, etc., Only on Certain Terms.	  	 	42	  
	 Section 8.02
	  	Successor Person Substituted for Company.	  	 	43	  
		
	ARTICLE IX SUPPLEMENTS AND AMENDMENTS TO INDENTURE AND SECURITIES GUARANTEES 	  	 	43	  
			
	 Section 9.01
	  	Without Consent of Holders.	  	 	43	  
	 Section 9.02
	  	With Consent of Holders.	  	 	45	  
	 Section 9.03
	  	Execution of Supplemental Indentures.	  	 	46	  
	 Section 9.04
	  	Effect of Supplemental Indentures.	  	 	46	  
	 Section 9.05
	  	Conformity with Trust Indenture Act.	  	 	46	  
	 Section 9.06
	  	Reference in Securities to Supplemental Indentures.	  	 	46	  
	 Section 9.07
	  	Notice of Supplemental Indentures.	  	 	46	  
	 Section 9.08
	  	Revocation and Effect of Consents, Waivers and Actions.	  	 	46	  
		
	ARTICLE X COVENANTS 	  	 	47	  
			
	 Section 10.01
	  	Payment of Principal and Interest.	  	 	47	  
	 Section 10.02
	  	Maintenance of Office or Agency.	  	 	47	  
	 Section 10.03
	  	Money for Security Payments to Be Held in Trust.	  	 	48	  
	 Section 10.04
	  	[Intentionally Omitted].	  	 	49	  
	 Section 10.05
	  	Corporate Existence.	  	 	49	  
	 Section 10.06
	  	Statement by Officers As to Default.	  	 	49	  
	 Section 10.07
	  	Provision of Reports and Financial Statements.	  	 	50	  
	 Section 10.08
	  	Waiver of Certain Covenants.	  	 	50	  
	 Section 10.09
	  	Additional Guarantors.	  	 	50	  
	 Section 10.10
	  	Additional Amounts.	  	 	51	  
		
	ARTICLE XI REDEMPTION OF SECURITIES 	  	 	52	  
			
	 Section 11.01
	  	[Intentionally Omitted].	  	 	52	  
	 Section 11.02
	  	Applicability of Article.	  	 	52	  
	 Section 11.03
	  	Election to Redeem; Notice to Trustee.	  	 	52	  
	 Section 11.04
	  	Selection by Trustee of Securities to Be Redeemed.	  	 	52	  
	 Section 11.05
	  	Notice of Redemption.	  	 	53	  
	 Section 11.06
	  	Deposit of Redemption Price.	  	 	53	  
	 Section 11.07
	  	Securities Payable on Redemption Date.	  	 	54	  
	 Section 11.08
	  	Securities Redeemed in Part.	  	 	54	  
		
	ARTICLE XII DEFEASANCE AND COVENANT DEFEASANCE 	  	 	54	  
			
	 Section 12.01
	  	Company Option to Effect Defeasance or Covenant Defeasance.	  	 	54	  
	 Section 12.02
	  	Defeasance and Discharge.	  	 	55	  

  
 iii

							
	 Section 12.03
	  	Covenant Defeasance.	  	 	55	  
	 Section 12.04
	  	Conditions to Defeasance or Covenant Defeasance.	  	 	55	  
	 Section 12.05
	  	Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions.	  	 	57	  
	 Section 12.06
	  	Reinstatement.	  	 	58	  
		
	ARTICLE XIII SUBORDINATION OF SECURITIES 	  	 	58	  
			
	 Section 13.01
	  	Securities Subordinate to Senior Debt.	  	 	58	  
	 Section 13.02
	  	Payment Over of Proceeds Upon Dissolution, Etc.	  	 	59	  
	 Section 13.03
	  	Subrogation to Rights of Holders of Senior Debt.	  	 	59	  
	 Section 13.04
	  	Provisions Solely to Define Relative Rights.	  	 	60	  
	 Section 13.05
	  	Trustee to Effectuate Subordination.	  	 	60	  
	 Section 13.06
	  	No Waiver of Subordination Provisions.	  	 	60	  
	 Section 13.07
	  	Notice to Trustee.	  	 	61	  
	 Section 13.08
	  	Reliance on Judicial Order or Certificate of Liquidating Agent.	  	 	62	  
	 Section 13.09
	  	Trustee Not Fiduciary for Holders of Senior Debt.	  	 	62	  
	 Section 13.10
	  	Rights of Trustee As Holder of Senior Debt; Preservation of Trustee’s Rights.	  	 	62	  
	 Section 13.11
	  	Article Applicable to Paying Agents.	  	 	62	  
	 Section 13.12
	  	Certain Conversions or Exchanges Deemed Payment.	  	 	63	  
	 Section 13.13
	  	Defeasance of This Article XIII.	  	 	63	  
		
	ARTICLE XIV SECURITIES GUARANTEES 	  	 	63	  
			
	 Section 14.01
	  	Unconditional Guarantee.	  	 	63	  
	 Section 14.02
	  	Limitations on Guarantees.	  	 	65	  
	 Section 14.03
	  	Execution and Delivery of Guarantees.	  	 	65	  
	 Section 14.04
	  	Release of the Guarantors.	  	 	65	  
	 Section 14.05
	  	Waiver of Subrogation.	  	 	66	  
	 Section 14.06
	  	Immediate Payment.	  	 	66	  
	 Section 14.07
	  	No Set-Off.	  	 	66	  
	 Section 14.08
	  	Obligations Absolute.	  	 	67	  
	 Section 14.09
	  	Obligations Not Reduced.	  	 	67	  
	 Section 14.10
	  	Obligations Not Affected.	  	 	67	  
	 Section 14.11
	  	Waiver.	  	 	68	  
	 Section 14.12
	  	No Obligation To Take Action Against the Company.	  	 	68	  
	 Section 14.13
	  	Dealing with the Company and Others.	  	 	68	  
	 Section 14.14
	  	Default and Enforcement.	  	 	69	  
	 Section 14.15
	  	Amendment, Etc.	  	 	69	  
	 Section 14.16
	  	Acknowledgement.	  	 	69	  
	 Section 14.17
	  	No Merger or Waiver; Cumulative Remedies.	  	 	69	  
	 Section 14.18
	  	Survival of Obligations.	  	 	70	  
	 Section 14.19
	  	Guarantee in Addition to Other Obligations.	  	 	70	  
	 Section 14.20
	  	Severability.	  	 	70	  
	 Section 14.21
	  	Successors and Assigns.	  	 	70	  

  
 iv 

 INDENTURE, dated as of
                    , among [ISSUER], a
                    (the “Company”), INVESCO LTD. (“Parent”), INVESCO FINANCE, INC. (“Invesco Finance”), IVZ, INC.
(“IVZ”), INVESCO MANAGEMENT GROUP, INC. (“Management”), INVESCO ADVISORS, INC. (“Advisors”), INVESCO NORTH AMERICAN HOLDINGS, INC. (“Holdings”), INVESCO HOLDING COMPANY LIMITED (“Invesco Holding”;
and together with Parent, Invesco Finance, IVZ, Management, Advisors and Holdings, each a “Guarantor” and collectively, the “Guarantors”) and [TRUSTEE], a
                    , as trustee (the “Trustee”). 
 RECITALS OF THE COMPANY 
 The Company has duly
authorized the execution and delivery of this Indenture to create and provide for the issuance from time to time of its unsecured debentures, notes or other evidences of indebtedness (herein called, the “Securities”) to be issued in one or
more series as provided for in this Indenture. 
 Each of the Guarantors has duly authorized the execution and delivery of this
Indenture to provide for the issuance of guarantees of the Securities as provided in this Indenture. 
 All things necessary to
make this Indenture a valid and legally binding agreement of the Company and the Guarantors, in accordance with its terms, have been done. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of
the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities of any series, as follows: 

ARTICLE I 
 DEFINITIONS AND OTHER PROVISIONS 
 OF GENERAL APPLICATION 

Section 1.01 Definitions. 

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

(a) the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as
the singular; 
 (b) all other terms used herein which are defined in the Trust Indenture Act, either directly or
by reference therein, have the meanings assigned to them therein; 
 (c) unless the context otherwise requires,
any reference to an “Article” or a “Section” refers to an Article or a Section, as the case may be, of this Indenture; and 
 (d) the words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other
subdivision. 

 “Act”, when used with respect to any Holder, has the meaning
specified in Section 1.04. 
 “Affiliate” means, with respect to any specified Person, any other
Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control”, when used with respect to any specified Person, means the
power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings
correlative to the foregoing. 
 “Agent Member” means any member of or participant in, the Depositary.

 “Applicable Procedures” means applicable procedures of the Depositary, Euroclear or Clearstream, as
the case may be. 
 “Board of Directors” means, as the context requires, either the board of directors
of the Company or a Guarantor, as the case may be, or any duly authorized committee of that board. 
 “Board
Resolution” means, as the context requires, a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company or a Guarantor, as the case may be, to have been duly adopted by the Board of Directors and to be in
full force and effect on the date of such certification, and delivered to the Trustee. 
 “Business Day”
means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in New York, New York or London, England are authorized or obligated by law or executive order to close; provided that, when used with
respect to any Security, “Business Day” may have such other meaning, if any, as may be specified for such Security as contemplated by Section 3.01. 
 “Clearstream” means Clearstream Banking, S.A., or any successor securities clearing agency. 
 “Commission” means the Securities and Exchange Commission, from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this Indenture
such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 
 “Company” means the Person named as the “Company” in the first paragraph of this Indenture until a successor Person shall have become such pursuant to the applicable
provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 
 “Company
Request” or “Company Order” means a written request or order signed in the name of the Company by its Chairman, its Chief Executive Officer, its President, any Vice President, its Treasurer or an Assistant
Treasurer, and delivered to the Trustee. 
 “Corporate Trust Office” means the principal corporate trust
office of the Trustee, at which at any particular time its corporate trust business shall be administered, which office at the date of execution of this Indenture is located at 900 Ashwood Parkway North, Suite 425, Atlanta, Georgia 30338.

  
 2 

 “Credit Facility” means the Amended and Restated Credit Agreement,
dated as of June 3, 2011, among Invesco Holding, IVZ, Invesco Finance PLC and Invesco Finance, as borrowers, the lenders from time to time party thereto, the agent for such lenders and the other parties thereto, as the same may be amended,
modified, extended, refinanced, restated or replaced from time to time. 
 “Default” means any event
that is, or after notice or passage of time or both would be, an Event of Default. 
 “Defaulted
Interest” has the meaning specified in Section 3.08. 
 “Depositary” means The
Depository Trust Company, its nominees and successors. 
 “Euroclear” means the Euroclear Bank,
S.A./N.V., or any successor securities clearing agency. 
 “Event of Default” has the meaning specified
in Section 5.01. 
 “Exchange Act” means the Securities and Exchange Act of 1934, as amended from
time to time, and the rules and regulations thereunder. 
 “Global Security” shall have the meaning
specified in Section 2.02. 
 “Guarantee Release Event” means the occurrence of all of the
following: (a) all of the Guarantors (other than the Parent) have been released as (or substantially simultaneously with such release will no longer be) borrowers or guarantors under the Credit Facility; (b) Invesco Holding’s
unsecured 5.375% Senior Notes due February 27, 2013 are repaid in full and (c) Invesco Holding’s unsecured 5.375% Senior Notes due December 14, 2014 are repaid in full. 

“Guarantees” has the meaning specified in Section 14.01. 

“Guarantor” means (a) each Person named as the “Guarantor” in the first paragraph of this
Indenture until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Guarantor” shall mean such successor Person and (b) any Person that becomes a Guarantor after the date
of this Indenture pursuant to Section 10.09 hereof. 
 “Holder” means the Person in whose name a
Security is, at the time of determination, registered on the Security Register. 
 “Indenture” means
this instrument as originally executed and as it may from time to time be supplemented by one or more Supplemental Indentures. The term “Indenture” shall also include the terms of a particular series of Securities established as
contemplated by Section 3.01. 
 “Interest Payment Date” means, with respect to any Security, the
Stated Maturity of an installment of interest on such Security. 

  
 3 

 “Judgment Currency” has the meaning specified in
Section 1.16(b). 
 “Maturity”, when used with respect to any Security, means the date on which the
principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, notice of redemption or otherwise. 

“Obligations” means the obligations of the Company and any other obligor hereunder or under the Securities of any
series, including the Guarantors, to pay principal of and interest on such Securities when due and payable at Maturity, and all other amounts due or to become due under or in connection with this Indenture, the Securities and the performance of all
other obligations to the Trustee (including all amounts due to the Trustee under Section 6.07 hereof) and the Holders under this Indenture and the Securities according to the terms hereof and thereof. 

“Officers’ Certificate” means a certificate signed by the Chairman, the Executive Chairman, the Chief
Executive Officer, the President, the Chief Financial Officer, the General Counsel or any Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary, an Assistant Secretary or the Chief Financial Officer (provided that the Chief
Financial Officer may only sign on behalf of the Company or any Guarantor once) of the Company or any Guarantor, as applicable, and delivered to the Trustee. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company or any Guarantor, as applicable, including an employee of the Company, and who shall be
acceptable to the Trustee. 
 “Outstanding”, when used with respect to Securities, means, as of the date
of determination, all Securities theretofore authenticated and delivered under this Indenture, except: 
 (a)
Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 
 (b) Securities,
or portions thereof, for whose payment, redemption or purchase money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company
(if the Company shall act as its own Paying Agent) for the Holders of such Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor
satisfactory to the Trustee has been made; 
 (c) Securities, except to the extent provided in Article XII,
with respect to which the Company has effected defeasance and/or covenant defeasance as provided in Article XII; and 
 (d) Securities which have been paid pursuant to Section 3.07 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, other than any
such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands the Securities are valid obligations of the Company; 

  
 4 

 provided, however, that in determining whether the Holders of the requisite principal amount
of Outstanding Securities have given any request, demand, authorization, direction, consent, notice or waiver hereunder, and for the purpose of making the calculations required by TIA Section 313, Securities owned by the Company or any other
obligor upon the Securities or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making such a Responsible Officer of
calculation or in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities which the Trustee has actual knowledge are so owned shall be so disregarded. Securities so owned which have been pledged in
good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the
Securities or any Affiliate of the Company or such other obligor. 
 “Parent” means the Person named as
the “Parent” in the first paragraph of this Indenture until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Parent” shall mean such successor Person. 

“Paying Agent” means any Person authorized by the Company to pay the principal of or interest on any Securities
on behalf of the Company. 
 “Person” means any individual, corporation, limited or general partnership,
limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “Place of Payment” means, when used with respect to the Securities of any series, the place or places where the principal of and interest on such Securities are payable as
specified as contemplated by Section 3.01 and Section 10.02. 
 “Predecessor Security” of any
particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.07
in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Redemption Date”, when used with respect to any Security to be redeemed, in whole or in part, means the date fixed for such redemption by or pursuant to this Indenture.

 “Redemption Price”, when used with respect to any Security to be redeemed, means the price at which
it is to be redeemed pursuant to this Indenture. 
 “Registrar” means The Bank of New York Mellon Trust
Company, N.A. and any successor authorized by the Company to act as Registrar. 
 “Regular Record Date”
for the interest payable on any Interest Payment Date on the Securities of any series means the date specified for that purpose as contemplated by Section 3.01. 

  
 5 

 “Responsible Officer” when used with respect to the Trustee, means
any officer within the corporate trust department at the Corporate Trust Office (or any successor office) of the Trustee, including any Vice President, Assistant Vice President or any other officer of the Trustee customarily performing functions
similar to those performed by any of the above-designated officers, and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the
particular subject and who shall have direct responsibility for the administration of this Indenture. 

“Securities” has the meaning given such term in the first recital of this Indenture and more particularly means
any Securities authenticated and delivered under this Indenture. 
 “Securities Act” means the
Securities Act of 1933, as amended from time to time, and the rules and regulations thereunder. 
 “Security
Register” has the meaning set forth in Section 3.05. 
 “Senior Debt” means all
amounts due on obligations in connection with any of the following, whether outstanding at the date of execution of this Indenture or thereafter incurred or created: (i) the principal of (and premium, if any) and interest due on the
Company’s or any Guarantor’s indebtedness for borrowed money and indebtedness evidenced by securities, debentures, bonds or other similar instruments issued by the Company or any Guarantor; (ii) all capital lease obligations of the
Company and the Guarantors; (iii) any obligations as lessee under leases required to be capitalized on the balance sheet of the lessee under generally accepted accounting principles of the Company and the Guarantors; (iv) all obligations
of the Company and the Guarantors for the reimbursement on any letter of credit, banker’s acceptance, security purchase facility or similar credit transaction; (v) all obligations of the Company and the Guarantors in respect of interest
rate swap, cap or other agreements, interest rate future or options contracts, currency swap agreements, currency future or option contracts and other similar agreements; (vi) all obligations of the types referred to above of other persons for
the payment of which the Company or any Guarantor is responsible or liable as obligor, guarantor or otherwise; and (vii) all obligations of the types referred to above of other persons secured by any lien on any property or asset of the Company
or the Guarantors (whether or not such obligation is assumed by the Company or any Guarantor); provided, however, that the following will not constitute Senior Debt: (a) any indebtedness which expressly provides (i) that such
indebtedness shall not be senior in right of payment to the Securities, or (ii) that such indebtedness shall be subordinated to any other indebtedness of the Company or the Guarantors, unless such indebtedness expressly provides that such
indebtedness shall be senior in right of payment to the Securities; (b) any indebtedness of the Company and the Guarantors in respect of the Securities; (c) any indebtedness or liability for compensation to employees, for goods or
materials purchased in the ordinary course of business or for services; (d) any indebtedness of the Company and the Guarantors to any Subsidiary; and (e) any liability for federal, state, local or other taxes owed or owing by the Company
and the Guarantors. 
 “Special Record Date” for the payment of any Defaulted Interest means a date
fixed by the Trustee pursuant to Section 3.08. 

  
 6 

 “Stated Maturity” means, when used with respect to any Security or
any installment of interest thereon, the date specified in such Security as the fixed date on which the principal of such Security or such installment of interest is due and payable. 

“Subsidiary” means any Person a majority of the equity ownership or voting stock of which is at the time owned,
directly or indirectly, by the Company and/or one or more Subsidiaries of the Company. For the purposes of this definition, “voting stock” means stock which ordinarily has voting power for the election of directors, whether at all times or
only so long as no senior class of stock has such voting power by reason of any contingency. 
 “Supplemental
Indenture” means an indenture supplemental to this Indenture, in a form reasonably satisfactory to the Trustee, which supplements, amends or modifies this Indenture and is entered into by the parties to this Indenture as provided in
Article IX. 
 “Tax” means any tax, duty, levy, impost, assessment or other governmental charge
(including penalties, interest and any other liabilities related thereto). 
 “Taxing authority” means
any government or political subdivision or territory or possession of any government or any authority or agency therein or thereof having power to tax. 
 “Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as amended, as in force at the date as of which this Indenture was executed, except as
provided in Section 9.05. 
 “Trustee” means the Person named as the “Trustee” in the
first paragraph of this Indenture until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean such successor Trustee; provided, however, that
if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of or within any series shall mean only the Trustee with respect to the Securities of that series. 

“U.S. Government Obligations” has the meaning set forth in Section 12.04. 

“U.S. Physical Securities” has the meaning set forth in Section 2.01. 

Section 1.02 Compliance Certificates and Opinions. 

Upon any application or request by the Company or any Guarantor to the Trustee to take any action under any provision of this Indenture,
the Company or such Guarantor, as the case may be, shall furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture Act. Each such certificate or opinion shall be given in the form of an Officers’
Certificate, if to be given by an officer of the Company or such Guarantor, or an Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this
Indenture. 
 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this
Indenture (other than pursuant to Section 10.06(a)) shall include: 

  
 7 

 (a) a statement that each individual signing such certificate or opinion has
read such covenant or condition and the definitions herein relating thereto; 
 (b) 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; 
 (c) a statement that, in the opinion of each such individual, 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 
 (d) a statement as to whether, in the opinion of each such
individual, such condition or covenant has been complied with. 
 Section 1.03 Form of
Documents Delivered to Trustee. 
 In any case where several matters are required to be certified by, or covered by an
opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an
opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an officer of the Company and/or any Guarantor may be based, insofar as it relates to legal matters, upon a
certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or
opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company and/or any such
Guarantor stating that the information with respect to such factual matters is in the possession of the Company and/or any such Guarantor, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion
or representations with respect to such matters are erroneous. 
 Where any Person is required to make, give or execute two or
more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

Section 1.04 Acts of Holders. 

Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by
Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agents duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company or any Guarantor. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein
sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of 

  
 8 

 
execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee, the Company and any
Guarantor, if made in the manner provided in this Section. 
 The fact and date of the execution by any Person of any such
instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or
writing acknowledged to him the execution thereof. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of authority. The fact and date of
the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. 
 The ownership of Securities shall be proved by the Security Register. 
 If the
Company or any Guarantor shall solicit from the Holders of Securities of any series any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company or any such Guarantor (as the case may be), may, at its option, by
or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company or any such Guarantor (as the
case may be) shall have no obligation to do so. Notwithstanding TIA Section 316(c), such record date shall be the record date specified in or pursuant to such Board Resolution, which shall be a date not earlier than the date 30 days prior to
the first solicitation of Holders of Securities of such series generally in connection therewith and not later than the date such solicitation is completed. If such a record date is fixed, such request, demand, authorization, direction, notice,
consent, waiver or other Act may be given before or after such record date, but only the Holders of Securities of such series of record at the close of business on such record date shall be deemed to be Holders for the purposes of determining
whether Holders of the requisite proportion of Outstanding Securities of such series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding
Securities of such series shall be computed as of such record date; provided that no such authorization, agreement or consent by the Holders of Securities of such series on such record date shall be deemed effective unless it shall become
effective pursuant to the provisions of this Indenture not later than eleven months after the record date. 
 Any request,
demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange
therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company and/or the Guarantors in reliance thereon, whether or not notation of such action is made upon such Security. 

  
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 Section 1.05 Notices, etc., to Trustee, Company or
Guarantors. 
 Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document
provided or permitted by this Indenture to be made upon, given or furnished to, or filed with: 
 (a) unless
otherwise provided in any Supplemental Indenture, the Trustee by any Holder, the Company or any Guarantor shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing or mailed, first-class postage prepaid, to or
with the Trustee at its Corporate Trust Office, or sent by facsimile to the Trustee (with receipt confirmed by telephone) at [                    ];
or 
 (b) unless otherwise provided in any Supplemental Indenture, the Company by the Trustee, any Holder or any
Guarantor shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at [1555 Peachtree Street, N.E., Atlanta, Georgia 30309,
Attention: General Counsel, or sent by facsimile to the Company at (404) 962-8293 (with receipt confirmed by telephone at (404) 479-2863)], or at any other address or facsimile number previously furnished in writing to the Trustee by the
Company; or 
 (c) unless otherwise provided in any Supplemental Indenture, any Guarantor by the Company, any
other Guarantor, the Trustee or any Holder shall be sufficient for any purpose hereunder (unless otherwise herein expressly provided) if in writing, and mailed, first class postage prepaid, to such Guarantor addressed to it c/o Invesco Ltd., 1555
Peachtree Street, N.E., Atlanta, Georgia 30309, Attention: General Counsel, or sent by facsimile to such Guarantor at (404) 962-8293 (with receipt confirmed by telephone at (404) 479-2863), or at any other address or facsimile number
previously furnished in writing to the Trustee by such Guarantor. 
 The Trustee agrees to accept and act upon instructions or
directions pursuant to this Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such written instructions, subsequent to such transmission of
written instructions, shall provide the originally executed instructions or directions to the Trustee in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the party
providing such instructions or directions. If a party elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the
Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such
instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to
submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. Notwithstanding anything to the contrary contained
herein, as long as the Securities are in the form of a Global Security, notice to the Holders may be made electronically in accordance with procedures of the Depositary. 
 Section 1.06 Notice to Holders, Waiver. 
 Where this Indenture provides for notice of any event to Holders by the Company or the Trustee, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and
mailed, first-class postage prepaid, to each Holder affected by such event, at his address as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In
any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Any notice mailed
to a Holder in the manner herein prescribed shall be conclusively deemed to have been received by such Holder, whether or not such Holder actually receives such notice. Where this Indenture provides for notice in any manner, such notice may be
waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a
condition precedent to the validity of any action taken in reliance upon such waiver. 

  
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 In case by reason of the suspension of or irregularities in regular mail service or by
reason of any other cause, it shall be impracticable to mail notice of any event to Holders when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be satisfactory to the
Trustee shall be deemed to be a sufficient giving of such notice for every purpose hereunder. 

Section 1.07 Conflict of any Provision of Indenture with Trust Indenture Act. 

If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to
318, inclusive, of the Trust Indenture Act, or conflicts with any provision (an “incorporated provision”) required by or deemed to be included in this Indenture by operation of such Trust Indenture Act sections, such imposed duties or
incorporated provision shall control. 
 Section 1.08 Effect of Headings and Table of
Contents. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not
affect the construction hereof. 
 Section 1.09 Successors and Assigns.

 All covenants and agreements in this Indenture by the Company and any Guarantor shall bind its respective successors
and assigns, whether so expressed or not. 
 Section 1.10 Separability Clause.

 In case any provision in this Indenture or in any Security shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 
Section 1.11 Benefits of Indenture. 
 Nothing in this Indenture or in any Security, express or implied, shall
give to any Person, other than the parties hereto, any Paying Agent, any Securities Registrar and their successors hereunder, and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 1.12 Counterparts. 

This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one and the same instrument. 
 Section 1.13 Governing Law.

 This Indenture and the Securities shall be governed by and construed in accordance with the laws of the State of New
York (without regard to applicable principles of conflicts of law thereof that would require the application of the law of any other state). This Indenture shall be subject to the provisions of the Trust Indenture Act that are required to be part of
this Indenture and shall, to the extent applicable, be governed by such provisions. 

  
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 Section 1.14 Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date, date established for payment of Defaulted Interest pursuant to
Section 3.08, Stated Maturity or Maturity with respect to any Security or other day on which principal or interest is due, shall not be a Business Day, then (notwithstanding any other provision of this Indenture or any Security) payment of
principal or interest need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the Interest Payment Date, Redemption Date, date established for payment of Defaulted Interest
pursuant to Section 3.08 or Stated Maturity or Maturity; provided that no interest shall accrue for the period from and after such Interest Payment Date or other such day, Redemption Date, date established for payment of Defaulted
Interest pursuant to Section 3.08, Stated Maturity or Maturity, as the case may be, to the next succeeding Business Day. 

Section 1.15 Agent for Service; Submission to Jurisdiction; Waiver of Immunities and Jury Trial.

 The Company and each Guarantor agree that any suit, action or proceeding against the Company or any Guarantor arising
out of or based upon this Indenture or the transactions contemplated hereby may be instituted in any State or Federal court in The City of New York, New York, and waives any objection which it may now or hereafter have to the laying of venue of any
such proceeding, and irrevocably submits to the nonexclusive jurisdiction of such courts in any suit, action or proceeding. The Company and each Guarantor has appointed CT Corporation System, 111 Eighth Avenue, New York, New York 10011 as its
authorized agent (the “Authorized Agent”) upon whom process may be served in any suit, action or proceeding arising out of or based upon this Indenture, any Security or the transactions contemplated herein or thereby which may be
instituted in any State or Federal court in The City of New York, New York, and expressly accepts the nonexclusive jurisdiction of any such court in respect of any such suit, action or proceeding. The Company and each Guarantor further agree to take
any and all action as may be necessary to maintain such designation and appointment of such agent in full force and effect for a period of ten years from the date of this Indenture. If for any reason CT Corporation System shall cease to be available
to act as such authorized agent for the Company and any Guarantor, the Company and each Guarantor agree to designate a new agent in the State of New York on the terms and for the purpose of this Section 1.15. The Company and each Guarantor
hereby represent and warrant that the Authorized Agent has accepted such appointment and has agreed to act as said agent for service of process, and the Company and each Guarantor agree to take any and all action, including the filing of any and all
documents that may be necessary to continue such appointment in full force and effect as aforesaid. Service of process upon the Authorized Agent shall be deemed, in every respect, effective service of process upon the Company. 

To the extent that the Company or any Guarantor has or hereafter may acquire any immunity (sovereign or otherwise) from any legal action,
suit or proceeding, from jurisdiction of any court or from set off or any legal process (whether service of notice, attachment in aid of or 

  
 12 

 
otherwise) with respect to itself or its property, it hereby irrevocably waives and agrees not to plead or claim such immunity in respect of its obligations under this Indenture, any Securities
or the Guarantees, as applicable. 
 EACH OF THE COMPANY, THE GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

Section 1.16 Currency. 

(a) Each reference in this Indenture to U.S. dollars (the “relevant currency”) is of the essence. To the fullest extent
permitted by law, the obligation of the Company in respect of any amount due with respect to the Securities of any series or any other obligation under this Indenture will, notwithstanding any payment in any other currency (whether pursuant to a
judgment or otherwise), be discharged only to the extent of the amount in the relevant currency that the party entitled to receive such payment may, in accordance with its normal procedures, purchase with the sum paid in such other currency (after
any premium and costs of exchange) on the Business Day immediately following the day on which such party receives such payment. If the amount in the relevant currency that may be so purchased for any reason falls short of the amount originally due,
the Company will pay such additional amounts, in the relevant currency, as may be necessary to compensate for the shortfall. Any obligation of the Company not discharged by such payment will, to the fullest extent permitted by applicable law, be due
as a separate and independent obligation and, until discharged as provided herein, will continue in full force and effect. 

(b) The Company and each Guarantor, jointly and severally, agree to indemnify each Holder against any loss incurred by such Holder as a
result of any judgment or order being given or made against the Company or any of the Guarantors, for any U.S. dollar amount due under this Indenture and such judgment or order being expressed and paid in a currency (the “Judgment
Currency”) other than U.S. dollars and as a result of any variation as between (i) the rate of exchange at which the U.S. dollar amount is converted into the Judgment Currency for the purpose of such judgment or order and (ii) the
spot rate of exchange in the City of New York at which such party on the date of payment of such judgment or order is able to purchase U.S. dollars with the amount of the Judgment Currency actually received by such party if such party had utilized
such amount of Judgment Currency to purchase U.S. dollars as promptly as practicable upon such party’s receipt thereof. The foregoing indemnity shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. The
term “spot rate of exchange” shall include any premiums and costs of exchange payable in connection with the purchase of, or conversion into, U.S. dollars. 
 ARTICLE II 
 SECURITY FORMS 

Section 2.01 Forms Generally. 

Each Security in a series shall be in a form approved by or pursuant to a Supplemental Indenture hereto or a Board Resolution or by an
Officer or Officers pursuant to authority delegated to that Officer or those Officers pursuant to a Board Resolution. If the form of the Securities of a series is not prescribed by the Supplemental Indenture relating to that series, upon or prior to
the delivery to the Trustee for authentication of the first Security to be issued of that series, the Company shall deliver to the Trustee, the Board Resolution by or pursuant to which 

  
 13 

 
such form of the Security for that series has been approved, which Board Resolution shall have attached thereto a copy of the form of the Security approved, or a certificate of an Officer,
attested to by the Secretary or Assistant Secretary of the Company, certifying that an Officer, acting pursuant to delegated authority from the Board of Directors, approved the form of the Securities of that series and attaching a copy of the form
of the Security and a true and complete copy of the resolutions of the Board of Directors delegating authority to that Officer to approve the form of Securities. If temporary Securities of any series are issued in global form as permitted by
Section 3.04, the form thereof also shall be established as provided in this Section 2.01. 
 All Securities shall
have such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as
may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution of the Securities. Any portion of the text of any Security
may be set forth on the reverse thereof, with an appropriate reference thereto on the face of the Security. 
 The definitive
Securities of any series shall be printed, lithographed or engraved on steel-engraved borders or may be produced in any other manner, all as determined by the officers of the Company executing such Securities, as evidenced by their execution of such
Securities. 
 Section 2.02 Global Securities. 

If Securities of a series are issuable in whole or in part in global form, as specified as contemplated by Section 3.01 (a
“Global Security”), then, notwithstanding Section 3.01 and the provisions of Section 3.02, such Global Security shall represent such of the Outstanding Securities of such series as shall be specified in such Global Security and
may provide that it shall represent the aggregate amount of Outstanding Securities of such series from time to time endorsed thereon and that the aggregate amount of Outstanding Securities of such series represented thereby may from time to time be
reduced or increased to reflect exchanges or partial redemptions or increased to reflect the issuance of additional uncertificated Securities of that series. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in
the amount, of Outstanding Securities of a series represented thereby shall be made by the Trustee in such manner and upon instructions given by such Person or Persons as shall be specified therein or in the Company Order to be delivered to the
Trustee pursuant to Section 3.03. Subject to the provisions of Section 3.03, the Trustee shall deliver and redeliver any Global Security in the manner and upon written instructions given by the Person or Persons specified therein or in the
applicable Company Order. If a Company Order pursuant to Section 3.03 has been, or simultaneously is, delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Global Security shall be in writing but
need not comply with Section 1.02. 
 Unless otherwise specified as contemplated by Section 3.01 for the Securities
evidenced thereby, every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form on the face thereof: 

  
 14 

 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW
YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC OR SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON 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 SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF
PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN SECTION 3.06 OF THE INDENTURE. 
 ARTICLE III 
 THE SECURITIES 

Section 3.01 Title and Terms. 

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

The Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution and, subject to
Section 3.03, set forth, or determined in the manner provided, in an Officers’ Certificate, or established in one or more Supplemental Indentures hereto, prior to the issuance of Securities of any series: 

(i) the title of the Securities of or within the series (which shall distinguish the Securities of such series from all
other series of Securities); 
 (ii) any limit upon the aggregate principal amount of the Securities of or within
the series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of or within the series pursuant to
Section 3.04, 3.05, 3.07, 9.06 or 11.08); provided, however, that the authorized aggregate principal amount of such series may from time to time be increased above such amount by a Board Resolution to such effect; 

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

  
 15 

 (iv) the date or dates on which the principal of any Securities of or within
the series is payable or the method by which such date or dates shall be determined or extended; 
 (v) the rate
or rates (which may be fixed or variable) at which any Securities of or within the series shall bear interest, if any, or the method by which such rate or rates shall be determined, the date or dates from which any such interest shall accrue, the
Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for any such interest payable on any Interest Payment Date, or the method by which such date shall be determined, and the basis upon which interest shall
be calculated if other than that of a 360-day year consisting of twelve 30-day months; 
 (vi) the place or
places where, subject to the provisions of Section 3.05 and Section 10.02, the principal of and any premium and interest on any Securities of or within the series shall be payable and the manner in which any payment may be made;

 (vii) the period or periods within which or the date or dates on which, the price or prices at which and the
terms and conditions upon which any Securities of or within the series may be redeemed, in whole or in part, at the option of the Company and, if other than by a Board Resolution, the manner in which any election by the Company to redeem the
Securities of such shall be evidenced; 
 (viii) the obligation, if any, of the Company to redeem or purchase any
Securities of or within the series pursuant to any sinking fund or analogous provisions or at the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any
Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 

(ix) if other than denominations of $2,000 and any integral multiple thereof, the denominations in which any Securities of
or within the series shall be issuable; 
 (x) if the amount of any premium or interest on any Securities of or
within the series may be determined with reference to an index or pursuant to a formula, the manner in which such amounts shall be determined; 
 (xi) if applicable, that the Securities of or within the series, in whole or any specified part, shall be defeasible pursuant to Section 12.02 or Section 12.03, or both such Sections, or
pursuant to a manner varying from such Sections, any provisions to permit a pledge of obligations other than U.S. Government Obligations (or the establishment of other arrangements) to satisfy the requirements of Section 12.04 for defeasance of
such Securities and, if other than by a Board Resolution, the manner in which any election by the Company to defease such Securities shall be evidenced; 
 (xii) if applicable, that any Securities of or within the series shall be issuable in whole or in part in the form of one or more Global Securities and, in such case, the

  
 16 

 
respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in addition to or in lieu of that set forth in
Section 2.02, any addition to, elimination of or other change in the circumstances set forth in clause (2) of the last paragraph of Section 3.05 in which any such Global Security may be exchanged in whole or in part for Securities
registered, and any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof and any other provisions governing exchanges or
transfers of any such Global Security; 
 (xiii) any addition to, elimination of or other change in the Events of
Default which applies to any Securities of or within the series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 5.02; 

(xiv) any addition to, elimination of or other change in the covenants set forth in Article X which applies to
Securities of or within the series; 
 (xv) any provisions necessary to permit or facilitate the issuance,
payment or conversion of any Securities of or within the series that may be converted into securities or other property other than Securities of or within the same series and of like tenor, whether in addition to, or in lieu of, any payment of
principal or other amount and whether at the option of the Company or otherwise; 
 (xvi) the terms and
conditions, if any, pursuant to which the Securities of or within the series are secured; 
 (xvii) any
restriction or condition on the transferability of the Securities of or within such series; 
 (xviii) the
exchanges, if any, on which the Securities of or within such series may be listed; 
 (xix) if other than the
Trustee, the identity of each Security Registrar and/or Paying Agent; 
 (xx) additional Opinions of Counsel, if
any, to be delivered by the Company or the Trustee in order to exercise either defeasance or covenant defeasance under Article XII with respect to Securities of or within such series; 

(xxi) whether and under what circumstances the Company will pay additional amounts as contemplated by Section 10.10
on the Securities of or within the series to any Holder in respect of any tax, assessment or governmental charge and, if so, whether the Company will have the option to redeem such Securities rather than pay such additional amounts (and the terms of
any such option); 
 (xxii) the specific subordination provisions applicable to the Securities or any one series,
if other than as set forth in Article XIII herein; and 

  
 17 

 (xxiii) any other terms of the series (which terms shall not be inconsistent
with the provisions of this Indenture, except as permitted by Section 9.01(c)). 
 All Securities of any one series shall
be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 3.03) set forth, or determined in the manner provided, in the
Officers’ Certificate referred to above or in any such Supplemental Indenture hereto. All Securities of any one series need not be issued at the same time and, unless otherwise provided, a series may be reopened, without the consent of the
Holders, for issuances of additional Securities of such series. 
 If any of the terms of any series are established by action
taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’
Certificate setting forth the terms of such series. 
 The Securities shall be subordinated in right of payment to Senior Debt
as provided in Article XIII. 
 Section 3.02 Denominations. 

The Securities of each series shall be issuable only in registered form without coupons and, unless otherwise specified as contemplated by
Section 3.01, only in denominations of US$2,000 and any integral multiple thereof. 

Section 3.03 Execution, Authentication, Delivery and Dating. 

The Securities of each series shall be executed on behalf of the Company by any authorized officer of the Company. The Guarantees endorsed
thereon shall be executed on behalf of each Guarantor by any authorized officer of each Guarantor. The signature of any of these officers on the Securities or the Guarantees may be manual or facsimile signatures of the present or any future such
authorized officer and may be imprinted or otherwise reproduced on the Securities and the Guarantees. 
 Securities or
Guarantees bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company or the applicable Guarantor shall bind the Company or the Guarantor, notwithstanding that such individuals or any of them
have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 
 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together
with a Company Order for the authentication and delivery of such Securities directing the Trustee to authenticate the Securities and certifying that all conditions precedent to the issuance of Securities contained herein have been fully complied
with, and the Trustee in accordance with such Company Order shall authenticate and deliver such Securities. The Trustee shall be entitled to receive an Officers’ Certificate and an Opinion of Counsel of the Company that it may reasonably
request in connection with such authentication of any Securities of any series. Such order shall specify the amount of Securities of such series to be authenticated and the date on which the original issue of Securities of such series. 

  
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 Each Security shall be dated the date of its authentication. 

In case the Company, pursuant to Article VIII, shall be consolidated or merged with or into any other Person or shall convey,
transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to any Person, and the successor Person resulting from such consolidation, or surviving such merger, or into which the Company shall have been merged, or
the Person which shall have received a conveyance, transfer, lease or other disposition as aforesaid, shall have executed a Supplemental Indenture with the Trustee pursuant to Article VIII, any of the Securities of any series authenticated or
delivered prior to such consolidation, merger, conveyance, transfer, lease or other disposition may, from time to time, at the request of the successor Person, be exchanged for other Securities of such series executed in the name of the successor
Person with such changes in phraseology and form as may be appropriate, but otherwise in substance of like tenor as the Securities of such series surrendered for such exchange and of like principal amount; and the Trustee, upon Company Request of
the successor Person, shall authenticate and deliver Securities as specified in such request for the purpose of such exchange. If Securities of any series shall at any time be authenticated and delivered in any new name of a successor Person
pursuant to this Section in exchange or substitution for or upon registration of transfer of any Securities of such series, such successor Person, at the option of the Holders but without expense to them, shall provide for the exchange of all
Securities of such series at the time Outstanding for Securities of such series authenticated and delivered in such new name. 

No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication substantially in the form set forth in Section 3.13 duly executed by the Trustee by manual signature of an authorized officer, and such certificate upon any Security shall be conclusive evidence, and the
only evidence, that such Security has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never
issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 3.10 together with a written statement (which need not comply with Section 1.02 and need not be accompanied
by an Opinion of Counsel) stating that such Security has never been issued or sold by the Company, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled
to the benefits of this Indenture. 
 Section 3.04 Temporary Securities.

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

  
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 If temporary Securities of any series are issued, the Company and the Guarantors will cause
definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of any series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon
surrender of such temporary Securities at the office or agency of the Company designated for such purpose pursuant to Section 10.02, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any
series, the Company and the Guarantors shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of such series having Guarantees duly endorsed thereon of authorized
denominations. Until so exchanged, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series. 

Section 3.05 Registration, Registration of Transfer and Exchange. 

The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office and in
any other office or agency designated pursuant to Section 10.02 being herein sometimes referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the
registration of Securities of each series and of transfers of Securities of such series. The Security Register shall be in written form or any other form capable of being converted into written form within a reasonable time. At all reasonable times,
the Security Register shall be open to inspection by the Trustee. The Trustee is hereby initially appointed as “Registrar” for the purpose of registering Securities and transfers of Securities as herein provided. 

Upon surrender for registration of transfer of any Security of any series at the office or agency of the Company designated pursuant to
Section 10.02, the Company and the Guarantors shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series having duly executed Guarantees
for such series endorsed thereon of any authorized denomination for such series or denominations of a like aggregate principal amount. 
 At the option of the Holder, Securities of any series may be exchanged for other Securities of such series of any authorized denomination for such series and of a like aggregate principal amount, upon
surrender of the Securities to be exchanged at such office or agency. Whenever any Securities of any series are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder
making the exchange is entitled to receive. 
 All Securities of any series and any Guarantees thereof issued upon any
registration of transfer or exchange of Securities shall be the valid obligations of the Company and any Guarantor, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities of such series and Guarantees
thereof surrendered upon such registration of transfer or exchange. 

  
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 Every Security presented or surrendered for registration of transfer or for exchange shall
(if so required by the Company or the Registrar) be duly endorsed, or be accompanied by a written instrument of transfer, in form satisfactory to the Company and the Registrar, duly executed by the Holder thereof or his attorney duly authorized in
writing. 
 No service charge shall be made for any registration of transfer or exchange or redemption of Securities, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 3.04, 9.06 or
11.08 not involving any transfer. 
 The Company shall not be required (i) to issue, register the transfer of or exchange
any Security during a period beginning at the opening of business 15 days before the selection of Securities to be redeemed under Section 11.04 and ending at the close of business on the day of such mailing of the relevant notice of redemption,
or (ii) to register the transfer of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 

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

Section 3.06 Book-Entry Provisions for Restricted Global Security. 

(a) Any Global Security initially shall (i) be registered in the name of Cede & Co., as nominee of the Depositary,
(ii) be deposited with, or on behalf of, the Depositary or with the Trustee, as custodian for such Depositary, and (iii) bear legends as set forth in Section 2.02. 

The Depositary or its nominee shall be the Holder of the Global Securities, and owners of beneficial interests in the Securities
represented by the Global Securities shall hold such interests pursuant to the procedures and practices of the Depositary. Any such owner’s beneficial ownership of any such Securities will be shown only on, and the transfer of such ownership
interest shall be effected only through, records maintained by the Depositary or its nominee. All interests in a Global Security may be subject to the procedures and requirements of the Depositary. Those interests held through Euroclear and
Clearstream will be subject to the procedures and requirements of such system. 
 (b) Transfers of any Global Security shall be
limited to transfers of such Global Security in whole, but not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in any Global Security may be transferred in accordance with the rules and
procedures of the Depositary. 
 Unless (i) the Depositary notifies the Company that it is unwilling or unable to continue
as depositary for a Global Security or ceases to be a “Clearing Agency” registered under the Exchange Act or announces an intention permanently to cease business or does in fact do so and a successor Depositary is not appointed by the
Company within 90 days of such notice, (ii) an Event of Default has occurred and is continuing with respect to a Global Security or (iii) Company determines that the Global Securities (in whole or in part) should be exchanged

  
 21 

 
for definitive Securities; provided that (x) such exchange is required by (A) any applicable law or (B) any event beyond the Company’s control or (y) payments of interest
on any Global Security, or beneficial interest are, or would become, subject to any deduction or withholding for taxes, owners of beneficial interests in a Global Security will not be entitled to have any portions of such Global Security registered
in their names, will not receive or be entitled to receive physical delivery of Securities in definitive form and will not be considered the owners or holders of the Global Security. 

(c) Securities issued in exchange for a Global Security or any portion thereof pursuant to the last sentence of subsection (b) of
this Section shall be issued in definitive, fully registered form, without interest coupons, shall be of the same series and have an aggregate principal amount equal to that of such Global Security or portion thereof to be so exchanged, shall be
registered in such names and be in such authorized denominations as the Depositary shall designate and shall bear any legends required hereunder. Any Global Security to be exchanged in whole shall be surrendered by the Depositary to the Trustee, as
Registrar. With regard to any Global Security to be exchanged in part, either such Global Security shall be so surrendered for exchange or, if the Trustee is acting as custodian for the Depositary or its nominee with respect to such Global Security,
the principal amount thereof shall be reduced, by an amount equal to the portion thereof to be so exchanged, by means of an appropriate adjustment made on the records of the Trustee. Upon any such surrender or adjustment, the Trustee shall
authenticate and make available for delivery the Security issuable on such exchange to or upon the order of the Depositary or an authorized representative thereof. In the event of the occurrence of any of the events specified in the last sentence of
subsection (b) of this Section 3.06, the Company will promptly make available to the Trustee a reasonable supply of certificated Securities of such series in definitive form. 

(d) Except as otherwise set forth in this Indenture or a Global Security, owners of beneficial interests in the Securities evidenced by a
Global Security will not be entitled to any rights under this Indenture with respect to such Global Security, and the Depositary or its nominee may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the owner and
Holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any such agent from giving effect to any written certification, proxy or other authorization
furnished by the Depositary or its nominee or impair, as between the Depositary or its nominee and such owners of beneficial interests, the operation of customary practices governing the exercise of the rights of the Depositary or its nominee as
Holder of any Security. 
 Section 3.07 Mutilated, Destroyed, Lost and Stolen Securities.

 If any mutilated Security of any series is surrendered to the Trustee, the Company and any Guarantor thereof shall
execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of such series having a duly executed Guarantee, if applicable, endorsed thereon, of like tenor and principal amount and bearing a number not
contemporaneously outstanding. 
 If there shall be delivered to the Company, any Guarantor and the Trustee (1) evidence to
their satisfaction of the destruction, loss or theft of any Security of any series and (2) such 

  
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security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of written notice to the Company, any Guarantor or the Trustee
that such Security has been acquired by a bona fide purchaser, the Company and any Guarantor shall execute and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of such series having a
duly executed Guarantee, if applicable, endorsed thereon, of like tenor and principal amount and bearing a number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security.

 Upon the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 Every new Security, and the Guarantee, if any, endorsed thereon, issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an original additional
contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and proportionately with any and all
other Securities of the same series, and any Guarantees endorsed thereon, duly issued hereunder. 
 The provisions of this
Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

Section 3.08 Payment of Interest; Rights to Interest Preserved. 

Except as otherwise provided as contemplated by Section 3.01 with respect to Securities of a series, interest on any Security which
is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date
for such interest at the office or agency of the Company maintained for such purpose pursuant to Section 10.02 or, at the option of the Company, interest may be paid by check mailed to the address of the Person entitled thereto pursuant to 3.09
as such address appears in the Security Register; provided that all payments with respect to Securities of any series, the Holders of which have given wire transfer instructions to the Trustee (or other Paying Agent) by the Regular Record
Date shall be required to be made by wire transfer of immediately available funds to the accounts specified by the Holders thereof. 
 Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date therefor shall forthwith cease to be payable to the Holder on the
Regular Record Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by such Securities (such defaulted interest and interest thereon herein
collectively called “Defaulted Interest”) may be paid by the Company, at its election in each case, as provided in clause (a) or (b) below: 

  
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 (a) The Company may elect to make payment of any Defaulted Interest payable
on any Securities of a series to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be
fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with
the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more
than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record
Date, and in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given in the manner provided for in Section 1.06, not less than 10 days
prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so given, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). 

(b) The Company may make payment of any Defaulted Interest on any Securities of a series in any other lawful manner not
inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to
this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this
Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other
Security. 
 Section 3.09 Persons Deemed Owners. 

Prior to the due presentment of a Security for registration of transfer, the Company, each Guarantor, the Trustee and any agent of the
Company, such Guarantor or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of, and (subject to Sections 3.05 and 3.08), interest on such
Security and for all other purposes whatsoever, whether or not such Security be overdue, and none of the Company, the Guarantors, the Trustee or any agent of the Company, such Guarantor or the Trustee shall be affected by notice to the contrary.

  
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 None of the Company, the Trustee, any Paying Agent or the Security Registrar will have any
responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership
interests. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company, the Trustee, or any agent of the Company or the Trustee, from giving effect to any written certification, proxy or other
authorization furnished by any depository, as a Holder, with respect to such Global Security or impair, as between such depository and owners of beneficial interests in such Global Security, the operation of customary practices governing the
exercise of the rights of such depository (or its nominee) as Holder of such Global Security. 

Section 3.10 Cancellation. 

All Securities surrendered for payment, redemption, registration of transfer or exchange shall, if surrendered to any Person other than
the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired
in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so
delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities
held by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures. 
 
Section 3.11 CUSIP and CINS Numbers. 
 The Company in issuing any Securities may use “CUSIP” and
“CINS” numbers (if then generally in use) and, if so, the Trustee shall use “CUSIP” and “CINS” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation
is made as to the correctness of such numbers either as printed on such Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on such Securities, and any such
redemption shall not be affected by any defect in or omission of such numbers in such notices of redemption. 
 
Section 3.12 Computation of Interest. 
 Except as otherwise specified as contemplated by Section 3.01, interest
on Securities any series shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 
 
Section 3.13 Form of Certificate of Authentication. 
 No Security shall be entitled to any benefit under this
Indenture or be valid or obligatory for any purpose unless there appears on such Security a certificate of authentication substantially in the form provided for below duly executed by the Trustee by manual signature of an

  
 25 

 
authorized officer, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and is
entitled to the benefits of this Indenture: 
 This is one of the Securities of the series designated herein and referred to in
the within-mentioned Indenture. 
  

					
	 	 	  
	 	 ,

		 	as Trustee	 	

  

					
	Dated:	 	 By:
	  	  

		 		  	Authorized Signatory

 ARTICLE IV 

SATISFACTION AND DISCHARGE 
 Section 4.01 Satisfaction and Discharge of Indenture. 
 This Indenture shall upon Company Request cease to be of further effect with respect to any series of Securities specified in such Company Request (except as to any surviving rights of registration of
transfer or exchange of Securities of such series herein expressly provided for) and the Trustee, upon receipt of a Company Order and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this
Indenture as to such series when: 
 (a) Either: 

(i) all the Securities of such series theretofore authenticated and delivered (other than mutilated, destroyed, lost or
stolen Securities that have been replaced or paid as provided in Section 3.07 and Securities that have been subject to defeasance under Article XII) have been delivered to the Trustee for cancellation; or 

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

 

	 	(A)	have become due and payable; 

  

	 	(B)	will become due and payable at Stated Maturity within one year; or 

  

	 	(C)	are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at
the expense, of the Company; 

 and the Company or any Guarantor, as the case may be, in the case of (A),
(B) or (C) above, has irrevocably deposited or caused to be deposited with the Trustee funds in trust for the purpose in an amount sufficient to pay and discharge the entire indebtedness

  
 26 

 
on Securities of such series not theretofore delivered to the Trustee for cancellation, for principal of and interest on, and any additional amounts with respect to such Securities of such Series
to the date of such deposit (in the case of Securities of such series that have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be, together with irrevocable instructions directing the Trustee to apply the funds
to the payment of the Securities of such series at the Stated Maturity or Redemption Date, as the case may be; 

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

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.07
and, if money shall have been deposited with the Trustee pursuant to subclause (ii) of clause (a) of this Section, the obligations of the Trustee under Section 4.02 and the last paragraph of Section 10.03 shall survive.

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

Section 4.02 Application of Trust Money. 

Subject to the provisions of the last paragraph of Section 10.03, all money deposited with the Trustee pursuant to Section 4.01
or Article XII shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent)
as the Trustee may determine, to the Persons entitled thereto, of the principal of and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by
law. 
 ARTICLE V 
 REMEDIES 
 Section 5.01 Events of Default.

 Subject to any modifications, additions or deletions relating to any series of Securities as contemplated pursuant to
Section 3.01, “Event of Default” with respect to Securities of any series, wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or
be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

  
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 (a) default in the payment of any interest or any additional amounts on any
Security of that series when it becomes due and payable, and continuance of such default for a period of 30 days; 
 (b) default in the payment of the principal of any Security of that series when due; 
 (c) default in the observance or performance, or breach, of any covenant or agreement of the Company or any Guarantor contained in this Indenture with respect to any Security of that series (other than
(i) a covenant or agreement included in this Indenture solely for the benefit of a series of Securities other than such series or (ii) a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section
specifically dealt with), and continuance of such default or breach for a period of 60 days after written notice has been given (x) to the Company by the Trustee or (y) to the Company and the Trustee by the Holders of at least 25% in
aggregate principal amount of the Outstanding Securities of that series specifying such default or breach, requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; 

(d) the entry by a court having jurisdiction in the premises of (i) a decree or order for relief in respect of the
Company or any Guarantor, as the case may be, in an involuntary case or proceeding under any applicable United States federal or state bankruptcy, insolvency, reorganization or other similar law or (ii) a decree or order adjudging the Company
or any Guarantor, as the case may be, a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company or such Guarantor, as the case may be, under any
applicable United States federal or state law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or any Guarantor, as the case may be, or of any substantial part of its
property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive days; provided that, with
respect to any Guarantor, such events referred to in clauses (i) or (ii) have had or could reasonably be expected to have a material adverse effect on the condition (financial or otherwise), earnings, business or prospects of the Company
and its Subsidiaries taken as a whole; 
 (e) the commencement by the Company or any Guarantor, as the case may
be, of a voluntary case or proceeding under any applicable United States federal or state bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it
to the entry of a decree or order for relief in respect of the Company or any Guarantor, as the case may be, in an involuntary case or proceeding under any applicable United States federal or state bankruptcy, insolvency, reorganization or other
similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable United States federal or state law, or the
consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, 

  
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sequestrator or other similar official of the Company or any Guarantor, as the case may be, or of any substantial part of its property, or the making by it of an assignment for the benefit of
creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company or any Guarantor, as the case may be, in furtherance of any such action; provided,
that, with respect to any Guarantor, such events have had or could reasonably be expected to have a material adverse effect on the condition (financial or otherwise), earnings, business or prospects of the Company and its Subsidiaries taken as a
whole; 
 (f) any Guarantee of any Security of that series is determined to be unenforceable or invalid or shall
for any reason cease to be in full force and effect, except as permitted by this Indenture or any Supplemental Indenture, or any Guarantor repudiates its obligations under such Guarantee; or 

(g) any other event or occurrence that is designated to be an Event of Default provided with respect to Securities of that
series in the Supplemental Indenture or Board Resolution that establishes the terms of the Securities of that series. 
 
Section 5.02 Acceleration of Maturity; Rescission and Annulment. 
 If an Event of Default (other than as specified
in Section 5.01(d) or (e)) with respect to Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of each such
affected series may, and the Trustee at the request of such Holders shall, declare the principal of and accrued and unpaid interest on, all of the Outstanding Securities of that series immediately due and payable by a notice in writing to the
Company (and to the Trustee if given by the Holders) and, upon any such declaration, all such amounts will become due and payable immediately. If an Event of Default specified in Section 5.01(d) or (e) above occurs and is continuing, then
the principal amount of all of the Securities Outstanding of that series shall automatically become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of Securities of that series.

 At any time after a declaration of acceleration and before a judgment or decree for payment of the money due has been
obtained by the Trustee, the Holders of a majority in aggregate principal amount of the Outstanding Securities of any series, by written notice to the Company and the Trustee, may rescind such declaration and its consequences with respect to
Securities of such series if: 
 (a) the Company or any Guarantor has paid or deposited with the Trustee a sum
sufficient to pay: 
 (i) all overdue interest on and additional amounts with respect to all Outstanding
Securities of that series; 
 (ii) all principal of any Outstanding Securities of that series that has become due
other than by such declaration of acceleration and interest thereon at the rate borne by the Securities of that series; 

  
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 (iii) to the extent that payment of such interest is lawful, interest on
overdue interest, any additional amounts and overdue principal at the rate borne by the Securities of that series; and 
 (iv) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and 

(b) all Events of Default with respect to Securities of that series, other than the non-payment of amounts of principal of
or interest or any additional amounts on the Securities of that series that have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. 

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

Section 5.03 Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company and each Guarantor, if any, covenants that if: 

(a) default is made in the payment of any interest on any Security of any series when such interest shall have become due
and payable and such default continues for a period of 30 days; or 
 (b) default is made in the payment of the
principal of any Security of any series at the Maturity thereof; 
 the Company and each Guarantor will, upon demand of the Trustee, pay to the
Trustee for the benefit of the Holders of such Securities of such series, the whole amount then due and payable on such Securities for principal and interest, and interest on any overdue principal and, to the extent that payment of such interest
shall be legally enforceable, upon any overdue installment of interest, at the rate borne by such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 If the Company or any
Guarantor of such Securities, as the case may be, fails to pay such amounts forthwith upon such demand, the Trustee, in its own name as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and
unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company, such Guarantor or any other obligor upon the Securities of such series and collect the moneys adjudged or decreed to be payable in the
manner provided by law out of the property of the Company, any such Guarantor or any other obligor upon the Securities of such series, wherever situated. 
 If an Event of Default with respect to the Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of
the Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of
the exercise of any power granted herein, or to enforce any other proper remedy. 

  
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 Nothing in this Section shall be considered to require the Trustee to institute any judicial
proceeding. 
 Section 5.04 Trustee May File Proofs of Claim. 

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

(b) to collect and receive any moneys or other securities or property payable or deliverable upon the conversion or
exchange of such securities or upon any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator,
sequestrator or similar official in any such judicial proceeding is hereby authorized by each Holder of Securities of such series to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments
directly to such Holders, to pay the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.07. 

Nothing in this Section shall be considered to require the Trustee to take any of the actions described in this Section 5.04.

 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of
any Holder of Securities of any series any plan of reorganization, arrangement, adjustment or composition affecting the Securities of such series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any
such Holder in any such proceeding. 
 Section 5.05 Trustee May Enforce Claims Without
Possession of Securities. 
 All rights of action and claims under this Indenture or the Securities may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name and as trustee of an express
trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in
respect of which such judgment has been recovered. 

  
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 Section 5.06 Application of Money Collected.

 Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or
dates fixed by the Trustee and, in case of the distribution of such money on account of principal and interest, upon presentation of the Securities of any series and the notation thereon of the payment if only partially paid and upon surrender
thereof if fully paid: 
 FIRST: To the payment of all amounts due the Trustee under Section 6.07;

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

THIRD: The balance, if any, to the Company and/or the Guarantors, as the case may be. 

Section 5.07 Limitation on Suits. 

No Holder of any Securities of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 (a)
such Holder has previously given written notice to the Trustee of a continuing Event of Default; 
 (b) the
Holders of not less than 25% in principal amount of the Outstanding Securities of such series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 (c) such Holder or Holders have offered to the Trustee reasonable indemnity satisfactory to the Trustee
against the costs, expenses and liabilities (including fees and expenses of its agents and counsel) to be incurred in compliance with such request; 
 (d) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 

(e) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the
Holders of a majority or more in principal amount of the Outstanding Securities of that series; 
 it being understood and intended that no one
or more Holders of Securities of that series shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Securities of that series,
or to obtain or to seek to obtain priority or preference over any other Holders of Securities of that series or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all the Holders
of Securities of that series. 

  
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 Section 5.08 Unconditional Right of Holders to Receive
Principal and Interest. 
 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment, as provided herein (including, if applicable, Article XII) and in such Security of the principal of, and (subject to Section 3.08) interest on, such Security on the
respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder.

 Section 5.09 Restoration of Rights and Remedies. 

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

Section 5.10 Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 3.07, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 
 Section 5.11 Delay or
Omission Not Waiver. 
 No delay or omission of the Trustee or of any Holder of any Security to exercise any right or
remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders
may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 5.12 Control by Holders. 

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

  
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 (a) such direction shall not be in conflict with any rule of law or with
this Indenture; 
 (b) the Trustee shall have been given reasonable indemnity satisfactory to it; and 

(c) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.

 Section 5.13 Waiver of Past Defaults. 

The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may, on behalf of the Holders of
all of the Securities of such series, waive any past defaults hereunder, except a default: 
 (a) in the payment
of the principal of or interest on any Security of such series: or 
 (b) in respect of a covenant or provision
hereof which under Article IX cannot be modified or amended without the consent of the Holder of each Security Outstanding of such series affected. 
 Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend
to any subsequent or other default or Event of Default or impair any right consequent thereon. 

Section 5.14 Waiver of Stay or Extension Laws. 

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

Section 5.15 Undertaking for Costs. 

All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any
court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such
suit of an undertaking to pay the costs of such suit, and that such court may in its discretion 

  
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assess reasonable costs, including reasonable attorney’s fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Outstanding
Securities, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on any Security on or after the respective Stated Maturities expressed in such Security (or, in the case of redemption, on or
after the Redemption Date). 
 ARTICLE VI 

THE TRUSTEE 
 Section 6.01 Certain Duties and Responsibilities. 
 The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act. Notwithstanding the foregoing, 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 hereunder. 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. 
 The Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the
Trustee. 
 In the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and
the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are
specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of
mathematical calculations or other facts stated therein). 
 The Trustee shall not be liable for any error of judgment made in
good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts. 
 Section 6.02 Notice of Defaults. 
 If
a Default or an Event of Default occurs and is continuing with respect to the Securities of any series and is known to the Trustee, the Trustee shall mail to each Holder of the Securities of such series in the manner and to the extent provided in
Section 313(c) of the Trust Indenture Act, notice of such Default or Event of Default within 90 days after the occurrence thereof; provided, however, that, except in the case of a Default or an Event of Default in the payment of
principal of or interest on the Securities of any series, the Trustee may withhold the notice to the Holders of the Securities of such series if and so long as the board of directors, the executive committee or a trust committee of directors or
Responsible Officers of the Trustee in good faith determines that withholding such notice is in the interests of the Holders of the Securities of that series. 

  
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 Section 6.03 Certain Rights of Trustee.

 Subject to Section 6.01: 
 (a) the Trustee may conclusively rely and shall be protected in acting or refraining from acting, pursuant to the terms of this Indenture or otherwise, upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper Person or
Persons; 
 (b) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a
Company Request or Company Order with sufficient detail as may be requested by the Trustee and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 

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

(e) 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 it against the costs, expenses and liabilities (including fees and expenses
of its agents and counsel) which might be incurred by it in compliance with such request or direction; 
 (f) the
Trustee shall not be bound to make any investigation into, and may conclusively rely upon, the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond,
debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make
such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any
kind by reason of such inquiry or investigation; 
 (g) the Trustee may execute any of the trusts or powers
hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder;

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

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

(j) the Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture; 
 (k) the Trustee shall
not be deemed to have notice of any Default or Event of Default except any Default or Event of Default occurring pursuant to clause (a) or (b) of Section 5.01 if, at the time of the occurrence of such Default or Event of Default, the Trustee is the
Paying Agent, unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by a Responsible Officer of the Trustee at the Corporate Trust Office
of the Trustee, and such notice references the Securities and this Indenture; 
 (l) in no event shall the
Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being
understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances; and 

(m) the Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture. 

  
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 Notwithstanding anything else herein contained, whenever any provision of this Indenture
indicates that any confirmation of a condition or event is qualified “to the knowledge of” or “known to” the Trustee or other words of similar meaning, said words shall mean and refer to the actual current awareness of one or
more Responsible Officers. 
 Section 6.04 Trustee Not Responsible for Recitals or
Issuance of Securities. 
 The recitals contained herein and in the Securities of each series, except for the
Trustee’s certificates of authentication, shall be taken as the statements of the Company and the Guarantors, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or
sufficiency of this Indenture, the Securities of any series or any Guarantee, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities of each series and perform its obligations
hereunder and that the statements made by it in a Statement of Eligibility on Form T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein. The Trustee shall not be accountable for the use or
application by the Company of Securities of any series or the proceeds thereof. 

Section 6.05 May Hold Securities. 

The Trustee, any Paying Agent, any Registrar or any other agent of the Company or of the Trustee, in its individual or any other capacity,
may become the owner or pledgee of Securities of any series and, subject to Sections 310(b) and 311 of the Trust Indenture Act, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying Agent, Registrar or
such other agent. 
 Section 6.06 Money Held in Trust. 

Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law or
Section 311 of the Trust Indenture Act. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company or any Guarantor, as the case may be. 

Section 6.07 Compensation and Reimbursement. 

The Company and the Guarantors, jointly and severally agree: 

(a) to pay to the Trustee (in its capacity as Trustee, Paying Agent and Registrar) from time to time such compensation as
the Company and the Trustee shall agree from time to time in writing for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust);

 (b) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all
reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the 

  
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reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense (including reasonable attorneys’ fees and expenses), disbursement or advance as
may be attributable to its negligence or bad faith or willful misconduct by the Trustee under the Indenture; and 

(c) to indemnify the Trustee for, and to hold it harmless against, any loss, liability, claim or expense incurred without
negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of enforcing this Indenture against the Company or the Guarantors (including this
Section 6.07) and of defending itself against any claim (whether asserted by any Holder or the Company) or liability in connection with the exercise or performance of any of its powers or duties hereunder except to the extent that any such
loss, liability or expense was due to the negligence or willful misconduct of the Trustee. 
 The obligations of the Company
under this Section to compensate the Trustee, to pay or reimburse the Trustee for expenses, disbursements and advances and to indemnify and hold harmless the Trustee shall constitute additional indebtedness hereunder and shall survive the
satisfaction and discharge of this Indenture and any termination under any bankruptcy law. 
 When the Trustee incurs expenses
or renders services in connection with an Event of Default specified in Section 5.01(d) or (e), the expenses (including the reasonable charges and expenses of its counsel) of and the compensation for such services are intended to constitute
expenses of administration under any applicable bankruptcy, insolvency or other similar law of the United States. 
 To secure
the Company’s and the Guarantors’ Obligations to make payments to the Trustee under this Section 6.07, the Trustee will have a lien prior to the Securities on all money or property held or collected by the Trustee, other than money or
property held in trust to pay principal or interest on particular Securities. 
 The provisions of this Section shall survive
the termination of this Indenture. 
 Section 6.08 Corporate Trustee Required;
Eligibility. 
 There shall be at all times a Trustee hereunder which shall be eligible to act as Trustee under
Section 310(a)(1) of the Trust Indenture Act and shall have a combined capital and surplus of at least US$50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the United
States federal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set
forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified
in this Article. 
 Section 6.09 Resignation and Removal; Appointment of Successor.

 (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall
become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.10. 
 (b) The Trustee may resign at any time by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.10 shall not have been delivered
to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

  
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 (c) The Trustee may be removed as the Trustee under any series of Securities at any time by
Act of the Holders of not less than a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. 
 (d) If at any time: 
 (1) the Trustee for the Securities of any
series shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act after written request therefor by the Company or by any Holder of the Securities of such series who has been a bona fide Holder of a Security of such
series for at least six months, except when the Trustee’s duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act; or 

(2) the Trustee for the Securities of any series shall cease to be eligible under Section 6.08 and shall fail to
resign after written request therefor by the Company or by any Holder of the Securities of such series who has been a bona fide Holder of a Security of such series for at least six months; or 

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

then, in any such case, (i) the Company, by a Board Resolution, may remove the Trustee for the Securities of such series, or (ii) subject to
Section 315(e) of the Trust Indenture Act, any Holder of Securities of such series who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any
court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the foregoing, the Trustee shall at all times comply with the provisions of Section 310(b) of the Trust Indenture Act.

 (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of
Trustee for any series of Securities for any cause, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series). If, within one year after such resignation,
removal or incapability, or the occurrence of such vacancy, a successor Trustee for the Securities of such series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to
the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the successor Trustee with respect to the Securities of such series and supersede the successor Trustee
appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by 

  
 39 

 
the Company or such Holders and accepted appointment in the manner hereinafter provided subject to Section 315(e) of the Trust Indenture Act, any Holder of the Securities of such series who
has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee for the Securities
of such series. 
 (f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the
Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series in the manner provided for notices to the Holders of Securities in Section 1.06. Each notice shall include the name of the
successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 
 
Section 6.10 Acceptance of Appointment by Successor. 
 (a) In case of the appointment hereunder of a successor
Trustee with respect to any series of Securities, each such successor Trustee shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the
retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on request of the Company or the
successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee, and shall duly assign, transfer and
deliver to such successor Trustee all property and money held by such retiring Trustee hereunder, subject nevertheless to its claim, if any, provided for in Section 6.07. 
 (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each such successor Trustee with
respect to such series of Securities shall execute and deliver a Supplemental Indenture, pursuant to Article IX hereof, wherein each such successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall
be necessary or desirable to transfer and confirm to, and to vest in, each such successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of
such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture
as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such Supplemental Indenture shall constitute such Trustees co-trustees of the same
trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such Supplemental Indenture the
resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of
the retiring Trustee with respect to the Securities of that or those series to which the appointment of 

  
 40 

 
such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and
money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. 
 (c) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers
and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 
 (d) No successor Trustee shall
accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article. 
 Section 6.11 Merger, Conversion, Consolidation or Succession to Business. 
 Any corporation into which the Trustee under any series of Securities may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Trustee under any series of Securities shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee under any series of Securities, shall be the successor of
such Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities of any
series shall have been authenticated, but not delivered, by the Trustee under such series of Securities then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the
Securities under that series so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. In case at that time any of the Securities of any series shall not have been authenticated, any successor
Trustee under such series may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor Trustee. In all such cases such certificates shall have the full force and effect which this Indenture
provides that the certificate of authentication of the Trustee shall have; provided, however, that the right to adopt the certificate of authentication of any predecessor Trustee or to authenticate Securities of any series in the name
of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or consolidation. 
 
ARTICLE VII 
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE 

Section 7.01 Disclosure of Names and Addresses of Holders. 

Every Holder of Securities of a series, by receiving and holding the same, agrees with the Company and the Trustee that none of the
Company or the Trustee or any agent of either of them shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders of such series in accordance with Section 312 of the Trust
Indenture Act, regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Section 312(b) of the Trust Indenture Act.
The Trustee shall comply with any request made pursuant to and in accordance with Section 312(b) of the Trust Indenture Act. 

  
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 Section 7.02 Reports by Trustee. 

Within 60 days after March 15 of each year commencing with the first March 15 after the first issuance of Securities under this
Indenture, the Trustee shall transmit to the Holders, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, a brief report dated as of such March 15 as required by Sections 313(a) and 313(b) of the Trust
Indenture Act. The Trustee shall file a copy of each report delivered pursuant to this section as required by the Trust Indenture Act. 
 ARTICLE VIII 
 CONSOLIDATION, MERGER,
CONVEYANCE, 
 TRANSFER OR LEASE 
 Section 8.01 Company and Guarantors May Consolidate, etc., Only on Certain Terms. 
 Neither the Company nor any Guarantor shall, in a single transaction or a series of related transactions, (i) consolidate with or merge into any other Person or permit any other Person to consolidate
with or merge into the Company or any such Guarantor or (ii) directly or indirectly, transfer, sell, lease or otherwise dispose of all or substantially all of its assets to any other Person, unless: 

(a) either (1) the Company shall be the surviving or continuing entity or (2) in a consolidation or merger in
which the Company does not survive or continue or if the Company transfers, sells, leases or otherwise disposes of all or substantially all of its assets to any other Person, the successor Person to the Company shall expressly assume, by a
Supplemental Indenture executed and delivered to the Trustee in form satisfactory to the Trustee, all of the Company’s obligations under this Indenture and the Securities; 

(b) either (1) each such Guarantor shall be the surviving or continuing entity or (2) in a consolidation or
merger in which any Guarantor does not survive or continue or if any Guarantor transfers, sells, leases, or otherwise disposes of all or substantially all of its assets to another Person (other than the Company or another Guarantor), the successor
Person to such Guarantor shall expressly assume, by Supplemental Indenture, all of such Guarantor’s obligations under this Indenture and the Guarantee issued by such Guarantor; 

(c) after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing; and

 (d) in the event that the successor Person is incorporated in a jurisdiction other than the United States or
the United Kingdom (A) the Company delivers to the Trustee an Opinion of Counsel stating that the obligations of the successor Person under this Indenture, the Securities and the Guarantees, as applicable, are enforceable against such successor
Person to the same extent as the obligations of the Company or such Guarantor 

  
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under this Indenture, the Securities and the Guarantees, as applicable, immediately prior to such transaction; (B) the successor Person agrees in writing to submit to jurisdiction and
appoints an agent for the service of process, each under terms substantially similar to the terms contained in the Indenture with respect to the Company or such Guarantor, as applicable; and (C) the Board of Directors of the Company determines
in good faith that such transaction will have no material adverse effect on any Holder and a Board Resolution to that effect is delivered to the Trustee. 
 Section 8.02 Successor Person Substituted for Company. 
 Upon any consolidation by the Company or any Guarantor with or merger by the Company or a Guarantor into any other Person or any transfer, sale, lease or other disposition of the properties and assets of
the Company or any Guarantor substantially as an entirety to any Person in accordance with Section 8.01, the successor Person formed by such consolidation or merger or to which such transfer, sale, lease or other disposition is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Company or such Guarantor under the Indenture, the Securities and any Guarantee, as the case may be, with the same effect as if such successor Person had been named
as the Company or a Guarantor herein or therein; and thereafter, except in the case of a lease to another Person, the predecessor Person shall be released from all obligations and covenants under this Indenture and the Securities. 

ARTICLE IX 
 SUPPLEMENTS AND AMENDMENTS TO INDENTURE 
 AND SECURITIES GUARANTEES

 Section 9.01 Without Consent of Holders. 

Without the consent of any Holders, the Company and any affected Guarantor, each when authorized by a Board Resolution, and the Trustee,
at any time and from time to time, may enter into one or more Supplemental Indentures, for any of the following purposes: 
 (a) to evidence the succession of another Person to the Company or any Guarantor and the assumption by any such successor of the covenants of the Company or any Guarantor contained herein and in the
Securities, or any series thereof, or to add any Guarantors of the Securities; 
 (b) to add to the covenants of
the Company and the Guarantors for the benefit of the Holders of all or any series of Securities (and, if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely
for the benefit of such series) or to surrender any right or power herein conferred upon the Company or the Guarantors; 
 (c) to add any additional Events of Default for the benefit of the Holders of all or any series of Securities (and if such Events of Default are to be for the benefit of less than all series of
Securities, stating that such Events of Default are expressly being included solely for the benefit of such series); provided, however, that in respect of any such additional Events of Default such Supplemental Indenture may provide
for a particular period of grace after default (which period may be shorter or longer than that 

  
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allowed in the case of other defaults) or may provide for an immediate enforcement upon such default or may limit the remedies available to the Trustee upon such default or may limit the right of
the Holders of a majority in aggregate principal amount of that or those series of Securities to which such additional Events of Default apply to waive such default; 

(d) to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Securities;
provided that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such Supplemental Indenture and entitled to the benefit of such provision nor
(ii) modify the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no such Security Outstanding; 

(e) to establish the form or terms of Securities of any series as permitted by Section 2.01 and 3.01, including the
provisions and procedures relating to Securities convertible into or exchangeable for other securities or property of the Company; 
 (f) to comply with the rules or regulations of any securities exchange or automated quotation system on which any of the Securities may be listed or traded; 

(g) to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or
facilitate the issuance of Securities in uncertificated form; 
 (h) to evidence and provide for the acceptance
of appointment hereunder by a successor Trustee pursuant to the terms herein with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee; 
 (i) to secure the Securities or any
Guarantee; 
 (j) to cure any ambiguity, to correct or supplement any provision herein which may be defective or
inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture which shall not be inconsistent with the provisions of this Indenture or to make any other changes;
provided that in each case, such provisions shall not adversely affect the interests of the Holders of Securities of any series in any material respect; 
 (k) to supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance and discharge of any series of Securities pursuant to Sections 4.01,
12.02 and 12.03; provided in each case that any such action shall not adversely affect the interests of the Holders of Securities of such series or any other series of Securities in any material respect; or 

(l) to comply with any requirement of the Commission in order to effect or maintain the qualification of this Indenture
under the Trust Indenture Act. 

  
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 Section 9.02 With Consent of Holders.

 With the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding
Securities of each series affected thereby, by Act of said Holders delivered to the Company, any affected Guarantor and the Trustee, the Company and the Guarantors, each when authorized by a Board Resolution, and the Trustee for Securities of each
such series may enter into one or more Supplemental Indentures for the purpose of modifying in any manner this Indenture or any Guarantee; provided, however, that no such Supplemental Indenture may, without the consent of the Holder of
each Outstanding Security affected thereby: 
 (a) change the Stated Maturity of the principal of, or any
installment of interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or change the place of payment where, or the coin or currency in which any Security
or the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date); 

(b) reduce the percentage in aggregate principal amount of the Outstanding Securities of such series required to consent
to any amendment of, or waiver of compliance with, any provision of or defaults under this Indenture; 
 (c)
waive a Default or Event of Default in the payment of principal of or interest on the Securities (except a rescission of acceleration of Securities by the Holders of at least a majority in aggregate principal amount of the then Outstanding
Securities (including Additional Securities issued under this Indenture, if any)); 
 (d) release any Guarantor
from any of its obligations under its Guarantee or this Indenture, except in accordance with the terms of this Indenture or any Supplemental Indenture; 
 (e) make any change that would adversely affect the rights of the Holders to receive additional amounts; 
 (f) make any change in the Company’s obligations to maintain an office or agency in the places and for the purposes set forth in Section 10.02; or 

(g) amend, change or modify any of the provisions in this Section 9.02. 

A Supplemental Indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included
solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of that series with respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series. 
 It shall not be necessary for any Act of Holders under this
Section to approve the particular form of any proposed Supplemental Indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

  
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 Section 9.03 Execution of Supplemental Indentures.

 In executing, or accepting the additional trusts created by, any Supplemental Indenture or the modifications thereby
of the trusts created by this Indenture, the Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such Supplemental Indenture is authorized or permitted by this
Indenture and that such Supplemental Indenture constitutes the legal, valid and binding obligation of the Company and the Guarantors subject to the customary exceptions. The Trustee may, but shall not be obligated to, enter into any such
Supplemental Indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

Section 9.04 Effect of Supplemental Indentures. 

Upon the execution of any Supplemental Indenture under this Article with respect to any series, this Indenture shall be modified in
accordance therewith for purposes of such series, and such Supplemental Indenture shall form a part of this Indenture for all purposes of such series; and every Holder of Securities of such series theretofore or thereafter authenticated and
delivered hereunder shall be bound thereby. 
 Section 9.05 Conformity with Trust
Indenture Act. 
 Every Supplemental Indenture executed pursuant to this Article shall conform to the requirements of the
Trust Indenture Act as then in effect. 
 Section 9.06 Reference in Securities to
Supplemental Indentures. 
 Securities of any series authenticated and delivered after the execution of any Supplemental
Indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such Supplemental Indenture. If the Company shall so determine, new Securities of any
series so modified as to conform, in the opinion of the Trustee and the Company, to any such Supplemental Indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of
such series. 
 Section 9.07 Notice of Supplemental Indentures. 

Promptly after the execution by the Company, any affected Guarantor and the Trustee of any Supplemental Indenture pursuant to the
provisions of Section 9.02, the Company shall give notice thereof to the Holders of each Outstanding Security affected, in the manner provided for in Section 1.06, setting forth in general terms the substance of such Supplemental
Indenture. Any failure by the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment or waiver. 
 Section 9.08 Revocation and Effect of Consents, Waivers and Actions. 
 Until an amendment, waiver or other action by Holders becomes effective, a consent to it or any other action by a Holder of a Security of any series hereunder is a continuing consent by such Holder and
every subsequent Holder of that Security, even if notation of the consent, 

  
 46 

 
waiver or action is not made on such Security. However, any such Holder or subsequent Holder may revoke the consent, waiver or action as to such Holder’s Security if the Trustee receives the
notice of revocation before the consent of the requisite aggregate principal amount of the Securities of such series affected then outstanding has been obtained and not revoked. After an amendment, waiver or action becomes effective, it shall bind
every Security Holder of the affected series, except as provided in Section 9.02. 
 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 a record date is fixed, then, notwithstanding the first two sentences 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, supplement or waiver or to revoke any consent previously given, whether or not such persons continue to
be Holders after such record date. No such consent shall be valid or effective for more than 90 days after such record date. 

ARTICLE X 
 COVENANTS 
 Section 10.01 Payment of
Principal and Interest. 
 The Company covenants and agrees for the benefit of the Holders that it will duly and
punctually pay the principal of and interest on the Securities of any series in accordance with the terms of such Securities and this Indenture. 
 The Company shall pay interest on overdue principal at the rate specified therefor in the Securities of any series, and it shall pay interest on overdue installments of interest at the same rate to the
extent lawful. 
 Section 10.02 Maintenance of Office or Agency. 

The Company shall maintain in each Place of Payment for any series of Security an office or agency where Securities of that series may be
presented or surrendered for payment or conversion, where Securities of such series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of such series or any
Guarantor in respect of the Guarantees of such series and this Indenture may be served. If the Securities of any series are listed on the Luxembourg Stock Exchange, The International Stock Exchange or any other stock exchange located outside the
United States and such stock exchange shall so require, the Company will maintain a Paying Agent for the Securities of that series in Luxembourg, London, England or any other required city located outside the United States, as the case may be, so
long as the Securities of that series are listed on such exchange. The Company will give prompt written notice to the Trustee of any change in the location of any 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 and the Company and each Guarantor for
such series hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 

  
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 The Company may also from time to time designate one or more other offices or agencies
outside of the State of Delaware where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind any such designation; provided, however, that no such
designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in accordance with the requirements set forth above for Securities of any series for such purposes. The Company will give prompt
written notice to the Trustee of any such designation or rescission and any change in the location of any such other office or agency. 
 Section 10.03 Money for Security Payments to Be Held in Trust. 
 If the Company shall at any time act as its own Paying Agent under Securities of any series, it will, on or before each due date of the principal of or interest on such Securities, segregate and hold in
trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of
its action or failure so to act. 
 Whenever the Company shall have one or more Paying Agents for Securities of any series, it
will, on or before each due date of the principal of or interest on any Securities of such series, deposit with the Paying Agent therefor a sum sufficient to pay the principal or interest so becoming due, such sum to be held in trust for the benefit
of the Persons entitled to such principal or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of such action or any failure so to act. 

The Company will cause each Paying Agent (other than the Trustee) for any series of Securities to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 
 (a) hold all sums held by it for the payment of the principal of or interest on Securities of such series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such
Persons or otherwise disposed of as herein provided; 
 (b) give the Trustee notice of any default by the Company
(or any other obligor upon the Securities) in the making of any payment of principal or interest; and 
 (c) at
any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 
 The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee
all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the
Trustee, such Paying Agent shall be released from all further liability with respect to such sums. 

  
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 Except as otherwise provided in the Securities of any series, any money deposited with the
Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or interest on any Security of any series and remaining unclaimed for two years after such principal or interest has become due and payable shall
be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and
all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being
required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan,
the City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the
Company. 
 Section 10.04 [Intentionally Omitted]. 

Section 10.05 Corporate Existence. 

Subject to Article VIII, the Company and each Guarantor shall do or cause to be done all things necessary to preserve and keep in
full force and effect their respective corporate existence and their respective rights (charter and statutory) and franchises, provided, however, that the foregoing shall not obligate the Company or any Guarantor to preserve any such
right or franchise if (i) the Company or any Guarantor shall determine that the preservation thereof is no longer desirable in the conduct of its business and would not have a material adverse effect on the condition, financial or otherwise,
earnings, business affairs or business prospects of the Company and its Subsidiaries considered as one enterprise and would not materially, adversely affect the ability of the Company or any Guarantor to perform its obligations under this Indenture
and (ii) failure to preserve the corporate existence of any Guarantor or any such right or franchise would not result in a downgrading of any credit rating then applicable to the Securities of any series. 

Section 10.06 Statement by Officers As to Default. 

(a) The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, a brief certificate from
the principal executive officer, principal financial officer or principal accounting officer stating that a review of the activities of the Company during such year and of its performance under this Indenture has been made under the supervision of
the signers thereof and to the best of his or her knowledge, based on such review, no Default or Event of Default has occurred under the Securities of any series. 
 (b) When any Default under Securities of any series has occurred and is continuing under this Indenture, the Company shall deliver to the Trustee of such series an Officers’ Certificate specifying
such event, notice or other action within fifteen days of the Company Secretary or Chief General Manager Finance and Administration becoming aware of the occurrence thereof. 

  
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 Section 10.07 Provision of Reports and Financial
Statements. 
 (a) [Intentionally Omitted] 
 (b) The Company shall (i) file with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies of the annual reports and of the information, documents and
other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Company may be required to file with the Commission pursuant to Section 13 or
Section 15(d) of the Exchange Act and (ii) file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such additional information, documents and reports with respect
to compliance by the Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations. 
 (c) If the Company is no longer required (or is not required, as the case may be) to file reports pursuant to Section 13 or 15(d) of the Exchange Act, then it shall file with the Trustee and the
Commission such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the Exchange Act in respect of a security listed and registered on a national securities exchange as may be
required by the rules and regulations of the Commission. 
 (d) The Company shall transmit by mail to all Holders of Securities
of any series, in the manner and to the extent provided in TIA Section 313(c), as soon as reasonably practicable and in any event within 30 days after the filing thereof with the Trustee, such information, documents and reports required to be
filed by the Company pursuant to paragraphs (b) and (c) of this Section. 
 Delivery of such reports, information and
documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
 Section 10.08 Waiver of Certain Covenants. 

The Company or any Guarantor may omit in any particular instance to comply with any term, provision or condition set forth in Sections
10.05 through 10.07, inclusive, and with any other term, provision or condition with respect to the Securities of any series specified in accordance with Section 3.01 (except any such term, provision or condition which could not be amended
without the consent of all Holders of Securities of such series pursuant to Section 9.02) if before or after the time for such compliance the Holders of at least a majority in principal amount of the Outstanding Securities of such series, by
Act of such Holders, waive such compliance in such instance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall
become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 
 Section 10.09 Additional Guarantors. 
 The
Company shall cause any of the Parent’s Subsidiaries that guarantees Indebtedness (as defined below) under the Credit Facility to, as primary obligors and not merely as sureties, fully and unconditionally guarantee pursuant to a Guarantee, on a
senior unsecured basis, the due and punctual payment of all amounts payable under the Securities of any series, when and if the 

  
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same shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, upon redemption or otherwise by execution of a Supplemental Indenture delivered to the Trustee
that adds such Subsidiary as a subsequent Guarantor; provided, however, that all such Guarantees (other than the Guarantee by the Parent) will be automatically released upon the occurrence of a Guarantee Release Event. For purposes of
this Section, “Indebtedness” means indebtedness for borrowed money or for the unpaid purchase price of real or personal property of the Company in accordance with generally accepted accounting principles in the United States of America,
consistently applied, that are then in effect. 
 Section 10.10 Additional Amounts.

 If the Securities of any series provide for the payment of additional amounts, the Company will pay to the Holder of
any Security of such series additional amounts as provided therein. Whenever in this Indenture there is mentioned, in any context, the payment of principal of or any interest on, or in respect of, any Security of any series or the net proceeds
received on the sale or exchange of any Security of any series, such mention shall be deemed to include mention of the payment of additional amounts provided for in this Section to the extent that, in such context, additional amounts are, were or
would be payable in respect thereof pursuant to the provisions of this Section and express mention of the payment of additional amounts (if applicable) in any provisions hereof shall not be construed as excluding additional amounts in those
provisions hereof where such express mention is not made. 
 If the Securities of a series provide for the payment of additional
amounts, at least ten Business Days days prior to the first Interest Payment Date with respect to that series of Securities (or if the Securities of that series will not bear interest prior to Maturity, the first day on which a payment of principal
is made), and at least 10 Business Days prior to each date of payment of principal or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the Company will furnish the Trustee
and the Company’s principal Payment Agent or Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of or interest on the
Securities of that series shall be made to Holders of Securities of that series who are United States aliens without withholding for or on account of any tax, assessment or other governmental charge described in the Securities of that series. If any
such withholding shall be required, then such Officers’ Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders of Securities and will set forth such other information necessary to
enable the Trustee to pay such withholdings and the Company will pay to the Trustee or such Paying Agent the additional amounts required by this Section. The Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them
harmless against, any loss, liability or expense reasonably incurred without negligence or bad faith on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished
pursuant to this Section. 

  
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 ARTICLE XI 

REDEMPTION OF SECURITIES 
 Section 11.01 [Intentionally Omitted]. 

Section 11.02 Applicability of Article. 

Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except
as otherwise specified as contemplated by Section 
3.01 for such Securities) in accordance with this Article. 
 Section 11.03 Election to Redeem;
Notice to Trustee. 
 The election of the Company to redeem any Securities shall be evidenced by a Board Resolution or in
another manner specified as contemplated by Section 3.01 for such Securities. In case of any redemption at the election of the Company of Securities of any series, the Company shall, at least 45 days prior to the Redemption Date fixed by the
Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed. 

Section 11.04 Selection of Securities to Be Redeemed. 

If less than all the Securities of any series are to be redeemed, the particular Securities of such series to be redeemed shall be
selected in accordance with the applicable procedures of the Depositary; provided, however, that no such partial redemption shall reduce the portion of the principal amount of a Security not redeemed to less than US$2,000. 

In the event of redemption of a Security of any series in part only, a new Security of such series for the unredeemed portion thereof
shall be issued in the name of the Holder thereof upon the cancellation thereof. 
 For all purposes of this Indenture, unless
the context otherwise requires, all provisions relating to redemption of Securities of any series shall relate, in the case of any Security of such series redeemed or to be redeemed only in part, to the portion of the principal amount of such
Security which has been or is to be redeemed. 

  
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 Section 11.05 Notice of Redemption.

 Notice of redemption shall be given in the manner provided for in Section 1.06, not less than 30 nor more than 60
days prior to the Redemption Date, unless a shorter period is specified by the terms of such series established pursuant to Section 3.01, to each Holder of Securities to be redeemed, but failure to give such notice in the manner herein provided
to the Holder of any Security designated for redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect the validity of the proceedings for the redemption of any other such Security or portion thereof.

 All notices of redemption shall state: 

(a) the Redemption Date; 
 (b) the Redemption Price and the amount of accrued and unpaid interest to the Redemption Date payable as provided in Section 11.07, if any; 

(c) if less than all Outstanding Securities of such series are to be redeemed, the identification (and, in the case of a
partial redemption, the principal amounts) of the particular Securities to be redeemed; 
 (d) in case any
Security of any series is to be redeemed in part only, the notice which relates to such Security shall state that on and after the Redemption Date, upon surrender of such Security, the holder will receive, without charge, a new Security of such
series or Securities of such series of authorized denominations for the principal amount thereof remaining unredeemed; 
 (e) that on the Redemption Date, the Redemption Price (and accrued interest, if any, to the Redemption Date payable as provided in Section 11.07) will become due and payable upon each such Security
of such series, or the portion thereof, to be redeemed, and that interest thereon will cease to accrue on and after said date; 
 (f) the place or places where such Securities of such series are to be surrendered for payment of the Redemption Price and accrued interest, if any; and 

(g) the CUSIP or CINS number, as the case may be. 

Notice of redemption of Securities of any series to be redeemed at the election of the Company shall be given by the Company or, at the
Company’s request, delivered at least 10 days prior to the date such notice is to be given to the Holders (unless such shorter period shall be acceptable to the Trustee), by the Trustee in the name and at the expense of the Company. 

Section 11.06 Deposit of Redemption Price. 

On or prior to 10:00 a.m. (New York City time) on any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent
in immediately available funds, or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 10.03, an amount of money sufficient to pay the Redemption Price of, and accrued interest on, all the
Securities of such series which are to be redeemed on that date. 

  
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 Section 11.07 Securities Payable on Redemption Date.

 Notice of redemption having been given as aforesaid, the Securities of such series so to be redeemed shall, on the
Redemption Date, become due and payable at the Redemption Price therein specified (together with accrued interest, if any, to the Redemption Date), and from and after such date (unless the Company shall default in the payment of the Redemption Price
and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such Security of any series for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with
accrued interest, if any, to the Redemption Date; provided, however, that installments of interest whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more
Predecessor Securities, registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of Section 3.08. 
 If any Security of any series called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption
Date at the rate borne by the Securities of such series. 
 Section 11.08 Securities
Redeemed in Part. 
 Any Security of any series which is to be redeemed only in part shall be surrendered at the office
or agency of the Company maintained for such purpose pursuant to Section 10.02 (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly
executed by, the Holder thereof or such Holder’s attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or
Securities of such series, of any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security of such series so surrendered. 

ARTICLE XII 
 DEFEASANCE AND COVENANT DEFEASANCE 

Section 12.01 Company Option to Effect Defeasance or Covenant Defeasance. 

If, pursuant to Section 3.01, provision is made for either or both of (a) defeasance of the Securities of or within a series
under Section 12.02 or (b) covenant defeasance of the Securities of or within a series under Section 12.03 to be applicable to the Securities of any series, then the provisions of such Section or Sections, as the case may be, together
with the other provisions of this Article (with such modifications thereto as may be specified pursuant to Section 3.01 with respect to any Securities), shall be applicable to such Securities, and the Company may, at its option by Board
Resolution at any time, with respect to such Securities, elect to have either Section 12.02 or Section 12.03 be applied to all Outstanding Securities of any series upon compliance with the conditions set forth below in this
Article XII. 

  
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 Section 12.02 Defeasance and Discharge.

 Upon the Company’s exercise under Section 12.01 of the option applicable to this Section 12.02 with
respect to the Securities of any series, the Company and the Guarantors shall be deemed to have been discharged from their obligations with respect to all Outstanding Securities of such series on the date the conditions set forth in
Section 12.04 are satisfied (hereinafter, “defeasance”). For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities of such
series, which shall thereafter be deemed to be “Outstanding” only for the purposes of Section 12.05 and the other Sections of this Indenture referred to in (A) and (B) below, and to have satisfied all its other obligations
under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive until otherwise
terminated or discharged hereunder: (A) the rights of Holders of Outstanding Securities of such series to receive payments in respect of the principal of and interest on such Securities when such payments are due, (B) the Company’s
obligations with respect to such Securities under Sections 3.04, 3.05, 3.07 and 10.03, (C) the rights, powers, trusts, duties and immunities of the Trustee hereunder, and (D) this Article XII. Subject to compliance with this
Article XII, the Company may exercise its option under this Section 12.02 with respect to Securities of any series notwithstanding the prior exercise of its option under Section 12.03 with respect to the Securities of such series.

 Section 12.03 Covenant Defeasance. 

Upon the Company’s exercise under Section 12.01 of the option applicable to this Section 12.03 with respect to the
Securities of any series, each of the Company and the Guarantors shall be released from their obligations under any covenant contained in Section 8.01 and in Sections 10.05 through 10.09, inclusive, and, if specified pursuant to
Section 3.01, their obligations under any other covenant, with respect to the Outstanding Securities of such series on and after the date the conditions set forth below are satisfied (hereinafter, “covenant defeasance”), and the
Securities of such series shall thereafter be deemed not to be “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. For this purpose, such covenant defeasance means that, with respect to the Outstanding Securities of such series, the Company and any Subsidiary 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 5.01(c) with respect to Securities of such series but, except as specified
above, the remainder of this Indenture and such Securities shall be unaffected thereby. 

Section 12.04 Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to application of either Section 12.02 or Section 12.03 to the Outstanding Securities of
any series: 

  
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 (a) The Company shall irrevocably have deposited with the Trustee (or
another trustee satisfying the requirements of Section 6.08 who shall agree to comply with the provisions of this Article XII applicable to it) as trust funds in trust, for the benefit of the Holders of such Securities, (A) money in
an amount, or (B) U.S. Government Obligations (as defined herein) that through the scheduled payment of principal and interest thereon will provide money in an amount, or (C) a combination thereof, sufficient, in the opinion of a
nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge the principal of and interest on the Outstanding Securities of such series on the Stated
Maturity (or upon Redemption Date, if applicable) of such principal or installment of interest; provided that the Trustee shall have been irrevocably instructed to apply such money or the proceeds of such U.S. Government Obligations to said
payments with respect to the Securities of such series. Before such a deposit, the Company may give to the Trustee, in accordance with Section 11.03 hereof, a notice of its election to redeem all of the Outstanding Securities of such series at
a future date in accordance with Article XI hereof, which notice shall be irrevocable. Such irrevocable redemption notice, if given, shall be given effect in applying the foregoing. For this purpose, “U.S. Government Obligations”
means securities that are (x) direct obligations of the United States for the timely payment of which its full faith and credit is pledged or (y) obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States, which, in either case, are not callable or redeemable at the option of the issuer thereof, and
shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such U.S. Government Obligation or a specific payment of principal of or interest on any such U.S.
Government Obligation held by such custodian for the account of the holder of such depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such
depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal of or interest on the U.S. Government Obligation evidenced by such depository receipt; 

(b) No Default or Event of Default with respect to the Securities of such series shall have occurred and be continuing on
the date of such deposit or, insofar as paragraphs (d) and (e) of Section 5.01 hereof are concerned, at any time during the period ending on the 91st day after the date of such deposit (it being understood that this condition shall
not be deemed satisfied until the expiration of such period); 
 (c) Such defeasance or covenant defeasance shall
not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument to which the Company or any Guarantor is a party or by which the Company or any such Guarantor is bound; 

(d) In the case of an election under Section 12.02, the Company shall have delivered to the Trustee an Opinion of
Counsel to the effect that (i) the Holders of the Securities of the applicable series will not recognize income, gain or loss for United 

  
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States federal income tax purposes as a result of the exercise of the option under Section 12.02 and will be subject to United States federal income tax on the same amount and in the same
manner and at the same times as would have been the case if such option had not been exercised, and (ii) either (A) the Company has received from, or there has been published by the United States Internal Revenue Service, a ruling to that
effect, or (B) since the date of the Indenture, there has been a change in the applicable United States federal income tax law; 
 (e) In the case of an election under Section 12.03, the Company has delivered to the Trustee an Opinion of Counsel to the effect that the Holders of the applicable series will not recognize income,
gain or loss for United States federal income tax purposes as a result of such deposit and the defeasance of the obligations referred to in the first paragraph of Section 12.03 and will be subject to United States federal income tax on the same
amount and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; 
 (f) If at such time the Securities of the applicable series are listed on a national securities exchange, the Company has delivered to the Trustee an Opinion of Counsel to the effect that such Securities
will not be delisted as a result of the Company’s exercise of its option under Section 12.02; and 

(g) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that all conditions precedent provided for relating to either the defeasance under Section 12.02 or the covenant defeasance under Section 12.03, as the case may be, have been complied with. 

Notwithstanding any other provisions of this Section, such defeasance or covenant defeasance shall be effected in compliance with any
additional or substitute terms, conditions or limitations which may be imposed on the Company and the Guarantors in connection therewith pursuant to Section 3.01. 
 At the time of such deposit (A) no default in the payment of any principal of or premium or interest on any Senior Debt shall have occurred and be continuing; (B) no event of default with
respect to any Senior Debt shall have resulted in such Senior Debt becoming, and continuing to be, due and payable prior to the date on which it would otherwise have become due and payable (unless payment of such Senior Debt has been made or duly
provided for); and (C) no other event of default with respect to any Senior Debt shall have occurred and be continuing permitting (after notice or lapse of time or both) the holders of such Senior Debt (or a trustee on behalf of such holders)
to declare such Senior Debt due and payable prior to the date on which it would otherwise have become due and payable. 
 
Section 12.05 Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions. 
 Subject to the provisions of the last paragraph of Section 10.03, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee,
collectively for purposes of this Section 12.05, the “Trustee”) pursuant to 

  
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Section 12.04 in respect of the Outstanding Securities of any series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this
Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of
principal and interest, but such money need not be segregated from other funds except to the extent required by law. 
 The
Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Governmental Obligations deposited pursuant to Section 12.04 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 Securities of such series. 
 Anything in this Article XII to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or U.S. Government Obligations (or other
property and any proceeds therefrom) held by it as provided in Section 12.04 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 which would then be required to be deposited to effect an equivalent defeasance or covenant defeasance, as applicable, in accordance with this Article. 

Section 12.06 Reinstatement. 

If the Trustee or any Paying Agent is unable to apply any money in accordance with Section 12.05 by reason of any order or judgment
of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company obligations under this Indenture and the Securities of such series shall be revived and reinstated as though no deposit had
occurred pursuant to Section 12.02 or 12.03, as the case may be, until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 12.05; provided, however, that if the Company
makes any payment of principal of or interest on any Security of any series following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money held
by the Trustee or Paying Agent. 
 ARTICLE XIII 

SUBORDINATION OF SECURITIES 
 Section 13.01 Securities Subordinate to Senior Debt. 
 The Company covenants and agrees, and each Holder of Securities of any series by the Holder’s acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set
forth in this Article XIII, subject to the provisions of Article IV and Article XII and except as may otherwise be specified as contemplated by Section 3.01 and set forth in the Securities of a series, the indebtedness
represented by the Securities of such series and the payment of the principal of and any premium and interest on each and all of the Securities of such series are hereby expressly made subordinate and junior in right of payment to the prior payment
in full of all amounts then due and payable in respect of all Senior Debt of the 

  
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Company, to the extent and in the manner herein set forth (unless a different manner is set forth in the Securities of such series). No provision of this Article XIII shall prevent the
occurrence of any default or Event of Default hereunder. 
 The provisions of this Article XIII define the subordination of
the Securities, as obligations of the Company, with respect to Senior Debt of the Company, as defined for the Company. All such provisions shall also be deemed to apply in the same way (mutatis mutandis) to each Guarantor, with appropriate
corresponding references to the Senior Debt of such Guarantors. 
 Senior Debt shall not be deemed to have been paid in full
unless the holders thereof shall have received cash, securities or other property equal to the amount of such Senior Debt then outstanding. 
 Section 13.02 Payment Over of Proceeds Upon Dissolution, Etc. 
 In the event of: 
 (a) any insolvency, bankruptcy, receivership,
liquidation, reorganization, readjustment, composition or other similar proceeding relating to the Company, its creditors or its property; 
 (b) any proceeding for the liquidation, dissolution or other winding up of the Company, whether voluntary or involuntary, or bankruptcy proceedings; 

(c) any assignment by the Company for the benefit of its creditors; or 

(d) any other marshalling of the assets of the Company; 
 all Senior Debt shall first be paid in full before any payment or distribution, whether in cash, securities or other property, shall be made by the Company on account of the Securities of any series. Any
payment or distribution, whether in cash, securities or other property (other than securities of the Company or any other corporation provided for by a plan or reorganization or a readjustment, the payment of which is subordinate, at least to the
extent provided in these subordination provisions with respect to the indebtedness evidenced by the Securities of any series, to the payment of all Senior Debt at the time outstanding and to any securities issued in respect thereof under any such
plan of reorganization or readjustment), which would otherwise (but for these subordination provisions) be payable or deliverable in respect to the Securities of any series shall be paid or delivered directly to the holders of Senior Debt in
accordance with the priorities then existing among such holders until all Senior Debt shall have been paid in full. No present or future holder of any Senior Debt shall be prejudiced in the right to enforce subordination of the indebtedness
constituting the Securities of any series by any act or failure to act on the part of the Company. 
 
Section 13.03 Subrogation to Rights of Holders of Senior Debt. 
 Upon the payment in full of all Senior Debt,
the rights of the holders of Securities of any series shall be subrogated to all the rights of any holders of Senior Debt to receive any further 

  
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payments or distributions applicable to the Senior Debt until the Securities of any series shall have been paid in full, and such payments or distributions received by the Holders of Securities
of any series by reason of such subrogation, of cash, securities or other property which otherwise would be paid or distributed to the holders of Senior Debt, shall, as between the Company and its creditors other than the holders of Senior Debt, on
the one hand, and the Holders of Securities of any series, on the other, be deemed to be a payment by the Company on account of Senior Debt, and not on account of the Securities of any series. 

Section 13.04 Provisions Solely to Define Relative Rights. 

The provisions of this Article XIII are and are intended solely for the purpose of defining the relative rights of the Holders of
Securities of any series on the one hand and the holders of Senior Debt on the other hand. Nothing contained in this Article XIII or elsewhere in the Indenture or in the Securities of such series is intended to or shall: 

(a) impair, as among the Company, its creditors other than holders of Senior Debt and the Holders of Securities of such
series, the obligation of the Company, which is absolute and unconditional (and which, subject to the rights under this Article XIII of the holders of Senior Debt, is intended to rank equally with all other general obligations of the Company),
to pay to the Holders of Securities of such series the principal of (and premium, if any) and interest on, the Securities of such series as and when the same shall become due and payable in accordance with their terms; 

(b) affect the relative rights against the Company of the Holders of Securities of such series and creditors of the
Company, as the case may be, other than the holders of Senior Debt; or 
 (c) prevent the Trustee or the Holder
of any Securities of such series from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article XIII of the holders of Senior Debt to receive cash,
property and securities otherwise payable or deliverable to the Trustee or such Holder. 

Section 13.05 Trustee to Effectuate Subordination. 

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

Section 13.06 No Waiver of Subordination Provisions. 

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

  
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 Without in any way limiting the generality of the foregoing paragraph, the holders of Senior
Debt may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders of the Securities of any series, without incurring responsibility to the Holders of the Securities of such series and without impairing or
releasing the subordination provided in this Article XIII or the obligations hereunder of the Holders of Securities of such series to the holders of Senior Debt, do any one or more of the following: 

(a) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior Debt, or
otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; 
 (b) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt; 

(c) release any Person liable in any manner for the collection of Senior Debt; and 

(d) exercise or refrain from exercising any rights against the Company and any other Person. 

Section 13.07 Notice to Trustee. 

The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any
payment to or by the Trustee in respect of the Securities of any series pursuant to the provisions of this Article XIII. Notwithstanding the provisions of this Article XIII or any other provision of the Indenture, the Trustee shall not be
charged with knowledge of the existence of any facts which would prohibit the making of any payment to or by the Trustee in respect of any Securities of any series pursuant to the provisions of this Article XIII, unless and until the Trustee
shall have received written notice thereof from the Company or a holder or holders of Senior Debt or from any trustee therefor; and, prior to the receipt of any such written notice, the Trustee, subject to the provisions of Section 6.04, shall
be entitled in all respects to assume that no such facts exist; provided, however, that if the Trustee shall not have received the notice provided for in this Section at least three Business Days prior to the date upon which by the
terms hereof any money may become payable for any purpose (including, without limitation, the payment of the principal of (or premium, if any) or interest on any Securities of any series), then, anything herein contained to the contrary
notwithstanding, the Trustee shall have full power and authority to receive such moneys and to apply the same to the purpose for which they were received and shall not be affected by any notice to the contrary that may be received by it within three
Business Days prior to such date. 
 Subject to the provisions of Section 6.04, the Trustee shall be entitled to rely on
the delivery to it of a written notice by a Person representing himself to be a holder of Senior Debt (or a trustee therefor) to establish that such notice has been given by a holder of Senior Debt (or a trustee therefor). In the event that the
Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Debt to participate in any payment of distribution pursuant to this Article XIII, the Trustee may request such
Person to 

  
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furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Debt held by such Person, the extent to which such Person is entitled to participate in such payment or
distribution and any other facts pertinent to the rights of such Person under this Article XIII, and if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such
Person to receive such payment. 
 Section 13.08 Reliance on Judicial Order or
Certificate of Liquidating Agent. 
 Upon any payment or distribution of assets of the Company referred to in this
Article XIII, the Trustee, subject to the provisions of Section 6.04, and the Holders of Securities of any series shall be entitled to conclusively rely upon any order or decree entered by any court of competent jurisdiction in which such
insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution winding up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for the benefit of
creditors, agent or other Person making such payment or distribution, delivered to the Trustee or to the Holders of Securities of such series, for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the
holders of the Senior Debt and other indebtedness of the Company, as the case may be, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article XIII.

 Section 13.09 Trustee Not Fiduciary for Holders of Senior Debt. 

With respect to the holders of Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as
are specifically set forth in this Article XIII, and no implied covenants or obligations with respect to the holders of such Senior Debt shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary
duty to the holders of Senior Debt with respect to its obligations and duties created hereunder and shall not be liable to any such holders or creditors if it shall in good faith pay over or distribute to Holders of Securities of any series or to
the Company or to any other Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article XIII or otherwise. 
 Section 13.10 Rights of Trustee As Holder of Senior Debt; Preservation of Trustee’s Rights. 

The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XIII with respect to any Senior
Debt which may at any time be held by it, to the same extent as any other holder of Senior Debt, and nothing in the Indenture shall deprive the Trustee of any of its rights as such holder. 

Nothing in this Article XIII shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.07.

 Section 13.11 Article Applicable to Paying Agents. 

In case at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the
term “Trustee” as used in this Article XIII shall in such case (unless the context otherwise requires) be construed as extending to and including 

  
 62 

 
such Paying Agent within its meaning as fully for all intents and purposes as if such Paying Agent were named in this Article XIII in addition to or in place of the Trustee; provided,
however, that this Section shall not apply to the Company or any Affiliate of the Company if it or such Affiliate acts as Paying Agent. 
 Section 13.12 Certain Conversions or Exchanges Deemed Payment. 
 For the purposes of this Article XIII only (a) the issuance and delivery of securities which are subordinate in right of payment to all then outstanding Senior Debt to substantially the same
extent as the Securities are so subordinate (“Junior Securities”) (or cash paid in lieu of fractional shares) upon conversion or exchange of Securities of any series as contemplated by Section 3.01, shall not be deemed to constitute a
payment or distribution on account of the principal of or premium or interest on Securities of such series or on account of the purchase or other acquisition of Securities of such series and (b) the payment, issuance or delivery of cash,
property or securities (other than Junior Securities and cash paid in lieu of fractional shares) upon conversion or exchange of Securities of any series shall be deemed to constitute payment on account of the principal of such Securities of such
series. Nothing contained in this Article XIII or elsewhere in the Indenture or in the Securities of any series is intended to or shall impair, as among the Company, its creditors other than holders of Senior Debt and the Holders of Securities
of such series the right, which is absolute and unconditional, of the Holder of any Securities of such series to convert or exchange such Securities of such series in accordance with the terms specified as contemplated by Section 3.01.

 Section 13.13 Defeasance of This Article XIII. 

The subordination of the Securities provided by this Article XIII is expressly made subject to the provisions for defeasance or
covenant defeasance in Article XIII hereof and, anything herein to the contrary notwithstanding, upon the effectiveness of any such defeasance or covenant defeasance, the Securities than outstanding shall thereupon cease to be subordinated
pursuant to this Article XIII. 
 ARTICLE XIV 

SECURITIES GUARANTEES 
 Section 14.01 Unconditional Guarantee. 

Subject to the provisions of this Article XIV, the Guarantors hereby, jointly and severally, unconditionally and irrevocably
guarantee (such guarantees to be referred to herein as “Guarantees”) to each Holder of a Security authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability
of this Indenture, the Securities of any series or the obligations of the Company to the Holders or the Trustee hereunder or thereunder, that: (a) the principal of and interest on the Securities of such series shall be duly and punctually paid
in full when due, whether at maturity, upon redemption at the option of Holders pursuant to the provisions of the series of any Securities relating thereto, by acceleration or otherwise, and interest on the overdue principal and (to the extent
permitted by law) interest, if any, with respect to the Securities of such series and all other obligations of the Company or the Guarantors to the Holders or the Trustee hereunder or thereunder (including

  
 63 

 
amounts due the Trustee hereunder) and all other Obligations shall be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and (b) in case of any
extension of time of payment or renewal of Securities of any series or any of such other Obligations, the same shall be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at maturity, by
acceleration or otherwise. Failing payment when due of any amount so guaranteed, or failing performance of any other Obligation of the Company to the Holders under this Indenture or under the Securities of such series, for whatever reason, the
Guarantors shall be obligated to pay, or to perform or cause the performance of, the same immediately. An Event of Default under this Indenture or the Securities of any applicable series shall constitute an event of default under the Guarantees, and
shall entitle the Holders of Securities to accelerate the obligations of the Guarantors hereunder in the same manner and to the same extent as the obligations of the Company. 
 Unless otherwise specified with respect to any Security pursuant to Section 3.01, the Guarantees will be senior unsecured obligations of the Guarantors and will rank pari passu in right of payment
with all other existing and future senior unsecured obligations of the Guarantors. 
 The Guarantors hereby agree that their
obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Securities of any series or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of
Securities of such series with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same, whether or not a Guarantee is affixed to any particular Security, or any other circumstance
which might otherwise constitute a legal or equitable discharge or defense of a Guarantor. The Guarantors hereby waive the benefit of diligence, presentment, demand of payment, 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 the Guarantees shall not be discharged except by complete performance of the obligations contained in such
Securities, this Indenture and this Guarantee. This Guarantee is a guarantee of payment and not of collection. Each Guarantor further agrees that, as between it, on the one hand, and the Holders of such Securities and the Trustee, on the other hand,
(a) subject to this Article XIV, the maturity of the obligations guaranteed hereby may be accelerated as provided in Article V hereof for the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the obligations guaranteed hereby, and (b) in the event of any acceleration of such obligations as provided in Article V hereof, such obligations (whether or not due and payable) shall forthwith
become due and payable by the Guarantors for the purpose of this Guarantee. 
 The obligations of the Guarantors hereunder shall
continue to be effective or shall be reinstated, as the case may be, if at any time any payment which would otherwise have reduced the obligations of the Guarantors hereunder (whether such payment shall have been made by or on behalf of the Company
or by or on behalf of the Guarantors) is rescinded or reclaimed from any of the Holders upon the insolvency, bankruptcy, liquidation or reorganization of the Company or any Guarantor otherwise, all as though such payment had not been made. If demand
for, or acceleration of the time for, payment by the Company is stayed upon the insolvency, bankruptcy, liquidation or reorganization of the Company, all such indebtedness otherwise subject to demand for payment or acceleration shall nonetheless be
payable by the Guarantors as provided herein. 

  
 64 

 Section 14.02 Limitations on Guarantees.

 The obligations of the Guarantors under their Guarantees are limited to the maximum amount which, after giving effect
to all other contingent and fixed liabilities of such Guarantors (including without limitation, any other Guarantor senior debt) will result in the obligations of the Guarantors under the Guarantees not constituting a fraudulent conveyance or
fraudulent transfer under federal or state law. 
 Section 14.03 Execution and Delivery of
Guarantees. 
 The Guarantees set forth in Section 14.01 shall be evidenced by an endorsement, in a form approved by
or pursuant to a Supplement Indenture or a Board Resolution, on each Security of a series authenticated and delivered by the Trustee. Such Guarantees shall be executed on behalf of the Guarantors by either manual of facsimile signature of an officer
of each Guarantor who shall have been duly authorized to so execute by all requisite corporation action. The validity and enforceability of any Guarantee shall not be affected by the fact that it is not affixed to any particular Security.

 The Guarantors hereby agree that the Guarantees shall remain in full force and effect notwithstanding any failure to endorse
on each Security a notation of such Guarantee. 
 If an officer of a Guarantor whose signature is on this Indenture or a
Guarantee no longer holds that office at the time the Trustee authenticates the Security on which such Guarantee is endorsed or at any time thereafter, the Guarantor’s Guarantee of such Security shall nevertheless be valid. 

The delivery of any Security by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of any Guarantee
set forth in this Indenture on behalf of the Guarantors. 
 Section 14.04 Release of the
Guarantors. 
 (a) Upon the consolidation or merger of a Guarantor with or into any Person, or the transfer, sale, lease
or other disposition of all or substantially all of its assets to any Person in compliance with Article VIII, such Guarantor’s Guarantee will be automatically discharged and released from all obligations under this Article XIV without
any further action required on the part of the Trustee or any Holder; provided, however, the successor Person expressly assumes such Guarantor’s obligations under the Guarantee and the Indenture. 

(b) Upon the occurrence of a Guarantee Release Event, each Guarantor’s (other than the Parent’s) Guarantee will be
automatically discharged and released from all obligations under this Article XIV without any further action required on the part of the Trustee or any Holder. 
 (c) The Trustee shall deliver an appropriate instrument evidencing the release of a Guarantor upon receipt of a request by the Company or a Guarantor accompanied by an Officers’

  
 65 

 
Certificate and an Opinion of Counsel certifying as to the compliance with this Section 14.04; provided, however, that the legal counsel delivering such Opinion of Counsel may
rely as to matters of fact on one or more Officers’ Certificates of the Company. 
 (d) The Trustee shall execute any
documents reasonably requested by the Company or a Guarantor in order to evidence the release of such Guarantor from its obligations under its Guarantee endorsed on the Securities and under this Article XIV. 

Section 14.05 Waiver of Subrogation. 

Until this Indenture is discharged and all of the Securities containing Guarantees are discharged and paid in full, the Guarantors hereby
irrevocably waive and agree not to exercise any claim or other rights which they may now or hereafter acquire against the Company that arise from the existence, payment, performance or enforcement of the Company’s obligations under such
Securities or this Indenture and the Guarantors’ obligations under the Guarantees and this Indenture, in any such instance including, without limitation, any right of subrogation, reimbursement, exoneration, contribution, indemnification, and
any right to participate in any claim or remedy of the Holders against the Company, whether or not such claim, remedy or right arises in equity, or under contract, statute or common law, including, without limitation, the right to take or receive
from the Company, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim or other rights. If any amount shall be paid to a Guarantor in violation of the preceding sentence
and any amounts owing to the Trustee or the Holders of such Securities, this Indenture, or any other document or instrument delivered under or in connection with such agreements or instruments, shall not have been paid in full, such amount shall
have been deemed to have been paid to such Guarantor for the benefit of, and held in trust for the benefit of, the Trustee or such Holders and shall forthwith be paid to the Trustee for the benefit of itself or such Holders to be credited and
applied to the obligations in favor of the Trustee or such Holders, as the case may be, whether matured or unmatured, in accordance with the terms of this Indenture. Each Guarantor acknowledges that it will receive direct and indirect benefits from
the financing arrangements contemplated by this Indenture and that the waiver set forth in this Section 14.05 is knowingly made in contemplation of such benefits. 
 Section 14.06 Immediate Payment. 
 Each
Guarantor agrees to make immediate payment to the Trustee on behalf of the Holders of all Obligations owing or payable to the respective Holders upon receipt of a demand for payment therefor by the Trustee to the Guarantor in writing. 

Section 14.07 No Set-Off. 

Each payment to be made by a Guarantor hereunder in respect of its obligations shall be payable in the currency or currencies in which
such obligations are denominated, and shall be made without set-off, counterclaim, reduction or diminution of any kind or nature. 

  
 66 

 Section 14.08 Obligations Absolute. 

The obligations of the Guarantors hereunder are and shall be absolute and unconditional and any monies or amounts expressed to be owing or
payable by the Guarantors hereunder which may not be recoverable from the Guarantors on the basis of a Guarantee shall be recoverable from the Guarantor as a primary obligor and principal debtor in respect thereof. 

The Obligations of the Guarantors hereunder shall be continuing and shall remain in full force and effect until all the Obligations have
been paid and satisfied in full. 
 Section 14.09 Obligations Not Reduced. 

The obligations of the Guarantors hereunder shall not be satisfied, reduced or discharged solely by the payment of such principal,
interest, fees and other monies or amounts as may at any time prior to discharge of this Indenture pursuant to Article XIV be or become owing or payable under or by virtue of or otherwise in connection with the Securities or this Indenture.

 Section 14.10 Obligations Not Affected. 

The obligations of the Guarantors hereunder shall not be affected, impaired or diminished in any way by any act, omission, matter or thing
whatsoever, occurring before, upon or after any demand for payment hereunder (and whether or not known or consented to by the Guarantors or any of the Holders) which, but for this provision, might constitute a whole or partial defense to a claim
against the Guarantors hereunder or might operate to release or otherwise exonerate the Guarantors from any of their obligations hereunder or otherwise affect such obligations, whether occasioned by default of any of the Holders or otherwise,
including, without limitation: 
 (a) any limitation of status or power, disability, incapacity or other
circumstance relating to the Company or any other Person, including any insolvency, bankruptcy, liquidation, reorganization, readjustment, composition, dissolution, winding-up or other proceeding involving or affecting the Company or any other
Person; 
 (b) any irregularity, defect, unenforceability or invalidity in respect of any indebtedness or other
obligation of the Company or any other Person under this Indenture, the Securities or any other document or instrument; 
 (c) any failure of the Company, whether or not without fault on its part, to perform or comply with any of the provisions of this Indenture or the Securities, or to give notice thereof to the Guarantor;

 (d) the taking or enforcing or exercising or the refusal or neglect to take or enforce or exercise any right
or remedy from or against the Company or any other Person or their respective assets or the release or discharge of any such right or remedy; 
 (e) the granting of time, renewals, extensions, compromises, concessions, waivers, releases, discharges and other indulgences to the Company or any other Person; 

  
 67 

 (f) any change in the time, manner or place of payment of, or in any other
term of, any of the Securities, or any other amendment, variation, supplement, replacement or waiver of, or any consent to departure from, any of the Securities of this Indenture, including, without limitation, any increase or decrease in the
principal amount of or interest on any of the Securities; 
 (g) any change in the ownership, control, name,
objects, businesses, assets, capital structure or constitution of the Company or the Guarantors; 
 (h) except as
provided herein, any merger or consolidation of the Company or any Guarantor with any Person or Persons; 
 (i)
the occurrence of any change in the laws, rules, regulations or ordinances of any jurisdiction by any present or future action of any governmental authority or court amending, varying, reducing or otherwise affecting, or purporting to amend, vary,
reduce or otherwise affect, any of the Obligations under this Indenture or the obligations of the Guarantors under the Guarantees; and 
 (j) any other circumstance, including release of the Guarantor other than pursuant to Section 14.04, that might otherwise constitute a legal or equitable discharge or defense of the Company under
this Indenture or the Securities or of the Guarantors in respect of its Guarantees hereunder. 

Section 14.11 Waiver. 

Without in any way limiting the provisions of Section 14.01 hereof, the Guarantors hereby waive notice of acceptance hereof, notice
of any liability of the Guarantors hereunder, notice or proof of reliance by the Holders upon the obligations of the Guarantors hereunder, and diligence, presentment, demand for payment on the Company, protest, notice of dishonor or non-payment of
any of the Obligations, or other notice or formalities to the Company or the Guarantors of any kind whatsoever. 
 
Section 14.12 No Obligation To Take Action Against the Company. 
 Neither the Trustee nor any other Person
shall have any obligation to enforce or exhaust any rights or remedies or to take any other steps under any security for the Obligations under this Indenture or against the Company or any other Person or any property of the Company or any other
Person before the Trustee is entitled to demand payment and performance by the Guarantors of their liabilities and obligations under their respective Guarantees or under this Indenture. 

Section 14.13 Dealing with the Company and Others. 

The Holders, without releasing, discharging, limiting or otherwise affecting in whole or in part the obligations and liabilities of the
Guarantors hereunder and without the consent of or notice to any Guarantor, may: 

  
 68 

 (a) grant time, renewals, extensions, compromises, concessions, waivers,
releases, discharges and other indulgences to the Company or any other Person; 
 (b) take or abstain from taking
security or collateral from the Company or from perfecting security or collateral of the Company; 
 (c) release,
discharge, compromise, realize, enforce or otherwise deal with or do any act or thing in respect of (with or without consideration) any and all collateral, mortgages or other security given by the Company or any third party with respect to the
obligations or matters contemplated by this Indenture or the Securities; 
 (d) accept compromises or
arrangements from the Company; 
 (e) apply all monies at any time received from the Company or from any security
upon such part of the obligations as the Holders may see fit or change any such application in whole or in part from time to time as the Holders may see fit; and 

(f) otherwise deal with, or waive or modify their right to deal with, the Company and all other Persons and any security
as the Holders or the Trustee may see fit. 
 Section 14.14 Default and Enforcement.

 If a Guarantor fails to pay in accordance with Section 14.06 hereof, the Trustee may proceed in its name as
trustee hereunder in the enforcement of the Guarantees of such Guarantor and such Guarantor’s obligations thereunder and hereunder by any remedy provided by law, whether by legal proceedings or otherwise, and to recover from the Guarantors the
Obligations. 
 Section 14.15 Amendment, Etc. 

No amendment, modification or waiver of any provision of this Indenture relating to the Guarantors or consent to any departure by the
Guarantors or any other Person from any such provision will in any event be effective unless it is signed by the Guarantors and the Trustee. 
 Section 14.16 Acknowledgement. 

Each Guarantor hereby acknowledges communication of the terms of this Indenture and consents to and approves of the same. 

Section 14.17 No Merger or Waiver; Cumulative Remedies. 

No Guarantee shall operate by way of merger of any of the obligations of the Guarantors under any other agreement, including, without
limitation, this Indenture. No failure to exercise and no delay in exercising, on the part of the Trustee or the Holders, any right, remedy, power or privilege hereunder or under this Indenture or the Securities, shall operate as a waiver thereof;
nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or under this Indenture or the Securities preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The
rights, remedies, powers and privileges in the Guarantees and under this Indenture, the Securities and any other document or instrument between the Guarantors and/or the Company and the Trustee are cumulative and not exclusive of any rights,
remedies, powers and privilege provided by law. 

  
 69 

 Section 14.18 Survival of Obligations.

 Without prejudice to the survival of any of the other obligations of the Guarantors hereunder, the obligations of the
Guarantors under Section 14.01 shall survive the payment in full of the Obligations under this Indenture and shall be enforceable against the Guarantors without regard to and without giving effect to any defense, right of offset or counterclaim
available to or which may be asserted by the Company or the Guarantors. 
 Section 14.19
Guarantee in Addition to Other Obligations. 
 The obligations of the Guarantors under the Guarantees and this Indenture
are in addition to and not in substitution for any other obligations to the Trustee or to any of the Holders in relation to this Indenture or the Securities and any guarantees or security at any time held by or for the benefit of any of them.

 Section 14.20 Severability. 

Any provision of this Article XIV which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining
provisions and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction unless its removal would substantially defeat the basic intent, spirit and purpose of
this Indenture and this Article XIV. In case any provision of any Guarantee shall be invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 Section 14.21 Successors and Assigns. 

Each Guarantee shall be binding upon and inure to the benefit of the Guarantors, the Trustee and the Holders, and their respective
successors and permitted assigns, except that the Guarantor may assign any of its obligations hereunder or thereunder. 

  
 70 

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

			
	[ISSUER]
		
	By  	 	 
		 	Name:
		 	Title:
	
	INVESCO LTD.
		
	By  	 	 
		 	Name:
		 	Title:
	
	INVESCO FINANCE, INC.
		
	By  	 	 
		 	Name:
		 	Title:
	
	IVZ, INC.
		
	By  	 	 
		 	Name:
		 	Title:
	
	INVESCO MANAGEMENT GROUP INC.
		
	By  	 	 
		 	Name:
		 	Title:
	
	INVESCO ADVISORS, INC.
		
	By  	 	 
		 	Name:
		 	Title:

  
 S-1

 
			
	INVESCO NORTH AMERICAN HOLDINGS, INC.
		
	By  	 	 
		 	Name:
		 	Title:
	
	INVESCO HOLDING COMPANY LIMITED
		
	By  	 	 
		 	Name:
		 	Title:
	
	[TRUSTEE], as Trustee
		
	By  	 	 
		 	Name:
		 	Title:

  
 S-2Form of Warrant

 Exhibit 4.1 
 WARRANT 
 NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS
CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR
ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL, IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS
NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT
SECURED BY THE SECURITIES. 
 MEI PHARMA, INC. 

WARRANT TO PURCHASE COMMON STOCK

 Warrant No.: [    ]-1 
 Number of Shares of Common Stock: [            ] 
 Date of Issuance: [            ], 2012 (“Issuance Date”) 

MEI Pharma, Inc., a company organized under the laws of Delaware (the “Company”), hereby certifies that, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, [                    ], the registered holder hereof or its
permitted assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company, at the Exercise Price (as defined below) then in effect, upon surrender of this Warrant to Purchase Common Stock
(including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, the “Warrant”), at any time or times on or after the Issuance Date, but not after 11:59 p.m., New York time, on the Expiration Date
(as defined below), [                    (        )] fully paid, nonassessable shares of Common Stock, par
value $0.00000002 per share, subject to adjustment as provided herein (the “Warrant Shares”). Except as otherwise defined herein, capitalized terms in this Warrant shall have the meanings set forth in Section 16. This Warrant
is one of the warrants to purchase Common Stock (the “SPA Warrants”) issued pursuant to Section 2.1 of that certain Securities Purchase Agreement, dated as of October [    ], 2012 (the “Subscription
Date”), by and among the Company and the investors (the “Buyers”) referred to therein. 
 1.
EXERCISE OF WARRANT. 
 (a) Mechanics of Exercise. Subject to the terms and conditions hereof, this Warrant may
be exercised by the Holder on any time or times on or after the Issuance Date, in whole or in part, by (i) delivery of a written notice, in the form attached hereto as Exhibit A (the “Exercise Notice”), of the
Holder’s election to exercise this Warrant and (ii) (A) payment to 

 
the Company of an amount equal to the applicable Exercise Price multiplied by the number of Warrant Shares as to which this Warrant is being exercised (the “Aggregate Exercise
Price”) in cash or by wire transfer of immediately available funds or (B) by notifying the Company that this Warrant is being exercised pursuant to a Cashless Exercise (as defined in Section 1(d)). The Holder shall not be required
to deliver the original Warrant in order to effect an exercise hereunder. Execution and delivery of the Exercise Notice with respect to less than all of the Warrant Shares shall have the same effect as reducing the number of Warrant Shares on the
face of this Warrant to the remaining number of Warrant Shares underlying this Warrant. On or before the third
(3rd) Trading Day following the date on which the
Exercise Notice has been delivered to the Company (the “Share Delivery Date”) (provided that if the Aggregate Exercise Price (unless notice of Cashless Exercise was given in the Exercise Notice) has not been delivered by such date,
the Share Delivery Date shall be one Trading Day after the Aggregate Exercise Price is delivered), the Company shall (X) provided that the Company’s transfer agent (the “Transfer Agent”) is participating in The Depository
Trust Company (“DTC”) Fast Automated Securities Transfer Program, credit such aggregate number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the Holder’s or its designee’s balance account
with DTC through its Deposit / Withdrawal At Custodian system, or (Y) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program or upon the request of the Holder, issue and dispatch by overnight courier to
the address as specified in the Exercise Notice, a certificate, registered in the Company’s share register in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder is entitled pursuant to such
exercise. The Company shall be responsible for all fees and expenses of the Transfer Agent and all fees and expenses with respect to the issuance of Warrant Shares via DTC, if any. Upon proper delivery of the Exercise Notice (provided that payment
of the Aggregate Exercise Price or notice of Cashless Exercise is delivered in accordance herewith, as applicable), the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which
this Warrant has been exercised, irrespective of the date such Warrant Shares are credited to the Holder’s DTC account or the date of delivery of the certificates evidencing such Warrant Shares, as the case may be. If this Warrant is submitted
in connection with any exercise pursuant to this Section 1(a) and the number of Warrant Shares represented by this Warrant submitted for exercise is greater than the number of Warrant Shares being acquired upon an exercise, then the Company
shall as soon as practicable and in no event later than three (3) Trading Days after any exercise and at its own expense, issue a new Warrant (in accordance with Section 7(d)) representing the right to purchase the number of Warrant Shares
issuable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this Warrant is exercised. No fractional shares of Common Stock are to be issued upon the exercise of this Warrant, but rather
the number of shares of Common Stock to be issued shall be rounded up to the nearest whole number. The Company shall pay any and all taxes which may be payable with respect to the issuance and delivery of Warrant Shares upon exercise of this
Warrant. 
 (b) Exercise Price. For purposes of this Warrant, “Exercise Price” means $0.52 per Warrant
Share, subject to adjustment as provided herein. 
 (c) Company’s Failure to Timely Deliver Securities. If, on or
prior to the Share Delivery Date, the Company shall fail to issue and deliver a certificate to the Holder and register such shares of Common Stock on the Company’s share register or credit the Holder’s

  
 2 

 
balance account with DTC for the number of shares of Common Stock to which the Holder is entitled upon the Holder’s exercise hereunder or pursuant to the Company’s obligation pursuant
to clause (ii) below, and if on or after such Trading Day the Holder purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder of shares of Common Stock issuable upon such
exercise that the Holder anticipated receiving from the Company (a “Buy-In”), then the Company shall, within three (3) Trading Days after the Holder’s request and in the Holder’s discretion, either (i) pay cash
to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions and other reasonable out-of-pocket expenses, if any) for the shares of Common Stock so purchased (the “Buy-In Price”), at
which point the Company’s obligation to deliver such certificate (and to issue such shares of Common Stock) or credit such Holder’s balance account with DTC shall terminate, or (ii) promptly honor its obligation to deliver to the
Holder a certificate or certificates representing such shares of Common Stock or credit such Holder’s balance account with DTC and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of
(A) such number of shares of Common Stock, times (B) the Closing Bid Price on the date of exercise. 
 (d)
Cashless Exercise. Notwithstanding anything contained herein to the contrary, the Holder may, in its sole discretion, exercise this Warrant in whole or in part and, in lieu of making the cash payment otherwise contemplated to be made to the
Company upon such exercise in payment of the Aggregate Exercise Price, elect instead to receive upon such exercise the “Net Number” of shares of Common Stock determined according to the following formula (a “Cashless
Exercise”): 
  

					
	Net Number =	 	(A x B) - (A x C)	  	
			
		 	D	  	
	
	For purposes of the foregoing formula:

			
		
	A=	 	the total number of shares with respect to which this Warrant is then being exercised.
		
	B=	 	the arithmetic average of the Weighted Average Prices of the Common Stock (as reported by Bloomberg) for the five (5) consecutive Trading Days ending on the date immediately
preceding the date of the Exercise Notice.
		
	C=	 	the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.
		
	D=	 	the Weighted Average Price of the Common Stock on the Exercise Date.

 For purposes of Rule 144(d) promulgated under the 1933 Act, as in effect on the date hereof, it is
intended and the Company acknowledges that the Warrant Shares issued in a Cashless Exercise shall be deemed to have been acquired by the Holder, and the holding period 

  
 3 

 
for the Warrant Shares shall be deemed to have commenced, on the Issuance Date. For the avoidance of doubt, the Company shall not be required to repurchase, redeem or settle any Warrant Shares
for cash or other property, other than for shares of Common Stock in accordance with the provisions of this Section 1(d). 

(e) Disputes. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant
Shares, the Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance with Section 12. 
 (f) Insufficient Authorized Shares. The Company will at all times reserve and keep available, solely for issuance and delivery upon the exercise of this Warrant, such number of Warrant Shares and
other securities, cash and/or property, as from time to time shall be issuable upon the exercise of this Warrant. If at any time while this Warrant remains outstanding the Company does not have a sufficient number of authorized and unreserved shares
of Common Stock to satisfy its obligation to reserve for issuance upon exercise of this Warrant at least a number of shares of Common Stock equal to 100% (the “Required Reserve Amount”) of the number of shares of Common Stock as
shall from time to time be necessary to effect the exercise of all of this Warrant then outstanding (an “Authorized Share Failure”), then the Company shall immediately take all action necessary to increase the Company’s
authorized shares of Common Stock to an amount sufficient to allow the Company to reserve the Required Reserve Amount for this Warrant then outstanding. Without limiting the generality of the foregoing sentence, as soon as practicable after the date
of the occurrence of an Authorized Share Failure, but in no event later than sixty (60) days after the occurrence of such Authorized Share Failure, the Company shall hold a meeting of its stockholders for the approval of an increase in the
number of authorized shares of Common Stock. In connection with such meeting, the Company shall provide each stockholder with a proxy statement and shall use its best efforts to solicit its stockholders’ approval of such increase in authorized
shares of Common Stock and to cause its board of directors to recommend to the stockholders that they approve such proposal. For the avoidance of doubt, the occurrence of an Authorized Share Failure shall not require the Company to repurchase,
redeem or settle this Warrant for cash or other property. 
 2. ADJUSTMENT UPON SUBDIVISION OR COMBINATION OF SHARES OF
COMMON STOCK. If the Company at any time on or after the Subscription Date subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of
shares, the Exercise Price in effect immediately prior to such subdivision will be proportionately reduced and the number of Warrant Shares will be proportionately increased. If the Company at any time on or after the Subscription Date combines (by
combination, reverse stock split or otherwise) one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the Exercise Price in effect immediately prior to such combination will be proportionately increased and
the number of Warrant Shares will be proportionately decreased. Any adjustment under this Section 2 shall become effective at the close of business on the date the subdivision or combination becomes effective. 

3. RIGHTS UPON DISTRIBUTION OF ASSETS. If the Company shall declare or make any dividend or other distribution of its assets (or
rights to acquire its assets) (the 

  
 4 

 
“Distributed Property”) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other
securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then,
in each such case, the Holder shall be entitled, upon exercise of this Warrant for the purchase of any or all of the Warrant Shares, to receive the amount of Distributed Property which would have been payable to the Holder had such Holder been the
holder of such Warrant Shares on the record date for the determination of the stockholders entitled to receive such Distributed Property. The Company will at all times set aside in escrow and keep available for distribution to such Holder upon
exercise of this Warrant a portion of the Distributed Property to satisfy the distribution to which such Holder is entitled pursuant to the preceding sentence. 
 4. FUNDAMENTAL TRANSACTIONS. If any Fundamental Transaction (as defined in Section 16 below) shall be effected, then, as a condition of such Fundamental Transaction, lawful and adequate
provision shall be made whereby each Holder shall thereafter have the right to purchase and receive upon the basis and upon the terms and conditions herein specified and in lieu of the Warrant Shares immediately theretofore issuable upon exercise of
the Warrant, such shares of stock, securities or assets as would have been issuable or payable with respect to or in exchange for a number of Warrant Shares equal to the number of Warrant Shares immediately theretofore issuable upon exercise of the
Warrant, had such Fundamental Transaction not taken place, and in any such case appropriate provision shall be made with respect to the rights and interests of each Holder to the end that the provisions hereof (including, without limitation,
provision for adjustment of the Exercise Price) shall thereafter be applicable, as nearly equivalent as may be practicable in relation to any shares of stock, securities or assets thereafter deliverable upon the exercise hereof. The Company shall
not effect any such Fundamental Transaction unless prior to or simultaneously with the consummation thereof the successor corporation (if other than the Company) resulting from such consolidation or merger, or the corporation purchasing or otherwise
acquiring such assets or other appropriate corporation or entity shall assume the obligation to deliver to the Holder, at the last address of the Holder appearing on the books of the Company, such shares of stock, securities or assets as, in
accordance with the foregoing provisions, the Holder may be entitled to purchase, and the other obligations under this Warrant. The provisions of this Section 4 shall similarly apply to successive Fundamental Transactions. 

5. NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company will not, by amendment of its Certificate of
Incorporation or Bylaws, or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Warrant, and will at all times in good faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder. Without limiting the generality of the foregoing, the
Company (i) shall not increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect, (ii) shall take all such actions as may be necessary or appropriate in order
that the Company may validly and legally issue fully paid and nonassessable shares of Common Stock upon the exercise of this Warrant, and (iii) shall, so long as any of the SPA Warrants are outstanding, take all action necessary to reserve and
keep available out of its 

  
 5 

 
authorized and unissued shares of Common Stock, solely for the purpose of effecting the exercise of the SPA Warrants, 100% of the number of shares of Common Stock as shall from time to time be
necessary to effect the exercise of the SPA Warrants then outstanding. 
 6. WARRANT HOLDER NOT DEEMED A STOCKHOLDER.
Except as otherwise specifically provided herein, the Holder, solely in such Person’s capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the Company for any
purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in such Person’s capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to vote, give or
withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise,
prior to the issuance to the Holder of the Warrant Shares which such Person is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the
Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company. 

  
 6 

 7. REISSUANCE OF WARRANTS. 

(a) Transfer of Warrant. If this Warrant is to be transferred as permitted herein, the Holder shall surrender this Warrant to the
Company, whereupon the Company will forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 7(d)), registered as the Holder may request, representing the right to purchase the number of Warrant Shares
being transferred by the Holder and, if less than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance with Section 7(d)) to the Holder representing the right to purchase the number
of Warrant Shares not being transferred. 
 (b) Lost, Stolen or Mutilated Warrant. Upon receipt by the Company of
evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant, and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company in customary form and, in
the case of mutilation, upon surrender and cancellation of this Warrant, the Company shall execute and deliver to the Holder a new Warrant (in accordance with Section 7(d)) representing the right to purchase the Warrant Shares then underlying
this Warrant. 
 (c) Exchangeable for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the
Holder at the principal office of the Company, for a new Warrant or Warrants (in accordance with Section 7(d)) representing in the aggregate the right to purchase the number of Warrant Shares then underlying this Warrant, and each such new
Warrant will represent the right to purchase such portion of such Warrant Shares as is designated by the Holder at the time of such surrender; provided, however, that no Warrants for fractional shares of Common Stock shall be given. 

(d) Issuance of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such
new Warrant (i) shall be of like tenor with this Warrant, (ii) shall represent, as indicated on the face of such new Warrant, the right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being
issued pursuant to Section 7(a) or Section 7(c), the Warrant Shares designated by the Holder which, when added to the number of shares of Common Stock underlying the other new Warrants issued in connection with such issuance, does not
exceed the number of Warrant Shares then underlying this Warrant), (iii) shall have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date, and (iv) shall have the same rights and conditions
as this Warrant. 
 8. NOTICES. Whenever notice is required to be given under this Warrant, unless otherwise provided
herein, such notice shall be given in accordance with Section 8.6 of the Securities Purchase Agreement. The Company shall provide the Holder with prompt written notice of all actions taken pursuant to this Warrant, including in reasonable
detail a description of such action and the reason therefor. Without limiting the generality of the foregoing, the Company will give written notice to the Holder (i) immediately upon any adjustment of the Exercise Price pursuant to
Section 2, setting forth in reasonable detail, and certifying, the calculation of such adjustment and (ii) at least fifteen (15) days prior to the date on which the Company closes its books or takes a record (A) with respect to
any dividend, distribution or 

  
 7 

 
rights offering with respect to shares of Common Stock or (B) for determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation, provided in each case
that such information shall be made known to the public prior to or in conjunction with such notice being provided to the Holder. 
 9. ENTIRE AGREEMENT; AMENDMENTS. This Warrant and the Transaction Documents (as defined in the Securities Purchase Agreement) constitutes the entire agreement among the parties hereto with respect
to the subject matter hereof. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein. This Warrant supersedes all prior agreements and understandings among the parties hereto with respect to
the subject matter hereof. No provision of this Warrant may be waived or amended other than by an instrument in writing signed by the party to be charged with enforcement. Any amendment or waiver by a party effected in accordance with this
Section 9 shall be binding upon such party and each future Holder. 
 10. GOVERNING LAW. This Warrant shall be
governed by, and construed in accordance with, the internal laws of the State of New York without regard to the choice of law principles thereof. 
 11. NO STRICT CONSTRUCTION. The language used in this Agreement is deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be
applied against any party. 
 12. DISPUTE RESOLUTION. In the case of a dispute as to the determination of the Exercise
Price or the arithmetic calculation of the Warrant Shares, the Company shall submit the disputed determinations or arithmetic calculations via facsimile within two (2) Business Days of receipt of the Exercise Notice giving rise to such dispute,
as the case may be, to the Holder. If the Holder and the Company are unable to agree upon such determination or calculation of the Exercise Price or the Warrant Shares within three (3) Business Days of such disputed determination or arithmetic
calculation being submitted to the Holder, then the Company shall, within two (2) Business Days submit via facsimile (a) the disputed determination of the Exercise Price to an independent, reputable investment bank selected by the Company
and approved by the Holder or (b) the disputed arithmetic calculation of the Warrant Shares to the Company’s independent, outside accountant. The Company shall cause at its expense the investment bank or the accountant, as the case may be,
to perform the determinations or calculations and notify the Company and the Holder of the results no later than ten Business Days from the time it receives the disputed determinations or calculations. Such investment bank’s or
accountant’s determination or calculation, as the case may be, shall be binding upon all parties absent demonstrable error. 
 13. EQUITABLE RELIEF. The Company recognizes that, if it fails to perform or discharge any of its obligations under this Warrant, any remedy at law may prove to be inadequate relief to the Holder.
The Company therefore agrees that the Holder is entitled to seek temporary and permanent injunctive relief in any such case. The Holder also recognizes that, if it fails to perform or discharge any of its obligations under this Agreement, any remedy
at law may prove to be inadequate relief to the Company. The Holder therefore agrees that the Company is entitled to seek temporary and permanent injunctive relief in any such case. 

  
 8 

 14. TRANSFER. This Warrant may be offered for sale, sold, transferred or assigned
without the consent of the Company, except as may otherwise be required by Section 4.7 of the Securities Purchase Agreement. 
 15. SEVERABILITY. If any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then such provision will be deemed modified in order to conform with
such statute or rule of law. Any provision hereof that may prove invalid or unenforceable under any law will not affect the validity or enforceability of any other provision hereof. 

16. CERTAIN DEFINITIONS. For purposes of this Warrant, the following terms shall have the following meanings: 

(a) “Bloomberg” means Bloomberg Financial Markets. 

(b) “Business Day” means a day Monday through Friday on which banks are generally open for business in New York City.

 (c) “Closing Bid Price” and “Closing Sale Price” means, for any security as of any date,
the last closing bid price and last closing trade price, respectively, for such security on the Principal Market, as reported by Bloomberg, or, if the Principal Market begins to operate on an extended hours basis and does not designate the closing
bid price or the closing trade price, as the case may be, then the last bid price or the last trade price, respectively, of such security prior to 4:00:00 p.m., New York time, as reported by Bloomberg, or, if the Principal Market is not the
principal securities exchange or trading market for such security, the last closing bid price or last trade price, respectively, of such security on the principal securities exchange or trading market where such security is listed or traded as
reported by Bloomberg, or if the foregoing do not apply, the last closing bid price or last trade price, respectively, of such security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg, or,
if no closing bid price or last trade price, respectively, is reported for such security by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers for such security as reported in the “pink sheets”
by Pink Sheets LLC (formerly the National Quotation Bureau, Inc.). If the Closing Bid Price or the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Bid Price or the Closing Sale
Price, as the case may be, of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such
dispute shall be resolved pursuant to Section 12. All such determinations to be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation period. 

(d) “Common Stock” means (i) the Company’s shares of Common Stock, par value $0.00000002 per share, and
(ii) any share capital into which such Common Stock shall have been changed or any share capital resulting from a reclassification of such Common Stock. 

  
 9 

 (e) “Eligible Market” means the Principal Market, The NASDAQ Global
Market, The NASDAQ Global Select Market, The New York Stock Exchange, Inc., or The NYSE Amex. 
 (f) “Expiration
Date” means the date five years after the Issuance Date, if such date falls on a day other than a Business Day or on which trading does not take place on the Principal Market (a “Holiday”), the next day that is not a
Holiday. 
 (g) “Fundamental Transaction” means that (A) the Company shall, directly or indirectly, in
one or more related transactions, (i) consolidate or merge with or into (whether or not the Company is the surviving corporation) another Person, or (ii) sell, assign, transfer, convey or otherwise dispose of all or substantially all of
the properties or assets of the Company to another Person, or (iii) consummate a stock purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with
another Person whereby such other Person acquires more than the 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with
the other Persons making or party to, such stock purchase agreement or other business combination), or (iv) reorganize, recapitalize or reclassify its Common Stock, (B) a Person makes a purchase, tender or exchange offer that is accepted
by the holders of more than the 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the Person or Persons making or party to, or associated or affiliated with the Persons making or party to, such purchase,
tender or exchange offer) or (C) any “person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the 1934 Act) is or shall become the “beneficial owner” (as defined in Rule 13d-3 under
the 1934 Act), directly or indirectly, of (x) 50% of the aggregate ordinary voting power represented by issued and outstanding shares of Common Stock, (y) 50% of the aggregate ordinary voting power represented by issued and outstanding
shares of Common Stock not beneficially owned by such Person on the Subscription Date or (z) a percentage of the aggregate ordinary voting power represented by issued and outstanding shares of Common Stock or other equity securities of the
Company sufficient to allow such Person to effect a statutory short form merger or other transaction requiring other stockholders of the Company to surrender their shares of Common Stock without approval of the stockholders of the Company.

 (h) “Person” means an individual, a limited liability company, a partnership, a joint venture, a
corporation, a trust, an unincorporated organization, any other entity and a government or any department or agency thereof. 

(i) “Principal Market” means The NASDAQ Capital Market. 

(j) “Trading Day” means any day on which the Common Stock is traded on the Principal Market, or, if the Principal
Market is not the principal trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common Stock is then traded; provided that “Trading Day” shall not include any day on which the
Common Stock is scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final hour of trading on such exchange or market (or if such exchange or market does not
designate in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New York time). 

  
 10 

 (k) “Weighted Average Price” means, for any security as of any date, the
dollar volume-weighted average price for such security on the Principal Market during the period beginning at 9:30:01 a.m., New York time (or such other time as the Principal Market publicly announces is the official open of trading), and ending at
4:00:00 p.m., New York time (or such other time as the Principal Market publicly announces is the official close of trading), as reported by Bloomberg through its “Volume at Price” function or, if the foregoing does not apply, the dollar
volume-weighted average price of such security in the over-the-counter market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York time (or such other time as the Principal Market publicly
announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as the Principal Market publicly announces is the official close of trading), as reported by Bloomberg, or, if no dollar volume-weighted
average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the “pink sheets” by Pink
Sheets LLC (formerly the National Quotation Bureau, Inc.). If the Weighted Average Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Weighted Average Price of such security on such date shall be the
fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved pursuant to Section 12 with the term
“Weighted Average Price” being substituted for the term “Exercise Price.” All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during the
applicable calculation period. 
 [Signature Page Follows] 

  
 11 

 IN WITNESS WHEREOF, the Company has caused this Warrant to Purchase Common Stock to
be duly executed as of the date first above written. 
  

			
	MEI PHARMA, INC.
		
	By:	 	  

	Name:	 	Daniel P. Gold
	Title:	 	Chief Executive Officer

 EXHIBIT A 
 EXERCISE NOTICE 
 TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE
THIS 
 WARRANT TO PURCHASE COMMON STOCK 
 MEI PHARMA, INC. 
 The undersigned holder hereby exercises the right to
purchase                  shares of the Common Stock (“Warrant Shares”) of MEI Pharma, Inc., a company incorporated under the laws of Delaware (the
“Company”), evidenced by the attached Warrant to Purchase Common Stock (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Warrant.

 1. Form of Exercise Price. The Holder intends that payment of the Exercise Price shall be made as: 

                 a “Cash
Exercise” with respect to                  Warrant Shares; and/or 
                  a “Cashless Exercise” with respect to
                 Warrant Shares. 
 2. Payment
of Exercise Price. In the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the holder shall pay the Aggregate Exercise Price in the sum of
$             to the Company in accordance with the terms of the Warrant. 
 3. Delivery of Warrant Shares. The Company shall deliver to the holder              Warrant Shares in accordance with the terms of the Warrant.

 Account Number (if electronic book entry transfer):              

DTC Participant Number (if electronic book entry transfer):              

Date:                     ,
         
  

			
	  

	Name of Registered Holder
		
	By:	 	  

		 	Name:
		 	Title:

 ACKNOWLEDGMENT 

The Company hereby acknowledges this Exercise Notice and hereby directs Computershare, Inc. to issue the above indicated number of shares
of Common Stock in accordance with the Transfer Agent Instructions dated [                    ], 2012 from the Company and acknowledged and agreed to
by Computershare, Inc. 
  

			
	MEI PHARMA, INC.
		
	By:	 	  

	Name:	 	
	Title:

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