Exhibit 4 .

EXECUT ION VERSION

CASCADES INC.

5.75% SENIOR NOTES DU E 20 23

INDENTU RE

Date d as of May 19, 20 15

WELLS FARGO BANK, NATIONAL ASSOCIATION

as Truste e
 T ABLE OF CONT ENT S

Pag e

ARTICLE 1.

DEFINITIONS AND INCORPORATION BY REFERENCE

Se c tion 1.0 1. Definitio ns 1

Se c tion 1.0 2. Other Definitio ns 29
Se c tion 1.0 3. Inc o rpo ratio n by Referenc e o f T rust Indenture Ac t 30
Se c tion 1.0 4. Rules o f Co nstruc tio n 30

ARTICLE 2.

THE NOTES

Se c tion 2.0 1. Fo rm and Dating 31

Se c tion 2.0 2. Exec utio n and Authentic atio n 33
Se c tion 2.0 3. Reg istrar and P aying Ag ent 33
Se c tion 2.0 4. P aying Ag ent to Ho ld Mo ney in T rust 33
Se c tion 2.0 5. Ho lder Lists 34
Se c tion 2.0 6. T ransfer and Exc hang e 34
Se c tion 2.0 7. Replac ement No tes 44
Se c tion 2.0 8. Outstanding No tes 44
Se c tion 2.0 9. T reasury No tes 45
Se c tion 2.10 . T empo rary No tes 45
Se c tion 2.11. Canc ellatio n 45
Se c tion 2.12. P ayment o f Interest; Defaulted Interest 45
Se c tion 2.13. CUSIP o r ISIN Numbers 46
Se c tion 2.14. Issuanc e o f Additio nal No tes 46

ARTICLE 3.

REDEMPTION AND PREPAYMENT

Se c tion 3.0 1. No tic es to T rustee 46

Se c tion 3.0 2. Selec tio n o f No tes to Be Redeemed 47
Se c tion 3.0 3. No tic e o f Redemptio n 47
Se c tion 3.0 4. Effec t o f No tic e o f Redemptio n 48
Se c tion 3.0 5. Depo sit o f Redemptio n P ric e 48
Se c tion 3.0 6. No tes Redeemed in P art 48
Se c tion 3.0 7. Optio nal Redemptio n 48
Se c tion 3.0 8. Mandato ry Redemptio n 50
Se c tion 3.0 9. Offer T o P urc hase by Applic atio n o f Exc ess P ro c eeds 50

ARTICLE 4.

COVENANTS

Se c tion 4.0 1. P ayment o f No tes 52

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 Pag e

Se c tion 4.0 2. Maintenanc e o f Offic e o r Ag enc y 52

Se c tion 4.0 3. Repo rts 52
Se c tion 4.0 4. Co mplianc e Certific ate 53
Se c tion 4.0 5. T axes 54
Se c tion 4.0 6. Stay, Extensio n and Usury Laws 54
Se c tion 4.0 7. Co rpo rate Existenc e 54
Se c tion 4.0 8. P ayments fo r Co nsent 54
Se c tion 4.0 9. Limitatio n o n Debt 54
Se c tion 4.10 . Limitatio n o n Restric ted P ayments 57
Se c tion 4.11. Limitatio n o n Liens 61
Se c tion 4.12. Limitatio n o n Asset Sales 61
Se c tion 4.13. Limitatio n o n Restric tio ns o n Distributio ns fro m Restric ted Subsidiaries 63
Se c tion 4.14. Limitatio ns o n Affiliate T ransac tio ns 65
Se c tion 4.15. Desig natio n o f Restric ted and Unrestric ted Subsidiaries 66
Se c tion 4.16. Repurc hase at the Optio n o f Ho lders Upo n a Chang e o f Co ntro l 68
Se c tion 4.17. Future Subsidiary Guaranto rs 69
Se c tion 4.18. Co venant T erminatio n 70
Se c tion 4.19. Additio nal Amo unts 70

ARTICLE 5.

SU CCESSORS

Se c tion 5.0 1. Merg er, Co nso lidatio n and Sale o f Assets 73

Se c tion 5.0 2. Suc c esso r Co rpo ratio n Substituted 74

ARTICLE 6.

DEFAU LTS AND REMEDIES

Se c tion 6.0 1. Events o f Default 75

Se c tion 6.0 2. Ac c eleratio n 77
Se c tion 6.0 3. Other Remedies 78
Se c tion 6.0 4. Waiver o f P ast Defaults 78
Se c tion 6.0 5. Co ntro l by Majo rity 78
Se c tion 6.0 6. Limitatio n o n Suits 78
Se c tion 6.0 7. Rig hts o f Ho lders to Rec eive P ayment 79
Se c tion 6.0 8. Co llec tio n Suit by T rustee 79
Se c tion 6.0 9. T rustee May File P ro o fs o f Claim 79
Se c tion 6.10 . P rio rities 80
Se c tion 6.11. Undertaking fo r Co sts 80

ARTICLE 7.

TRU STEE

Se c tion 7.0 1. Duties o f T rustee 80

Se c tion 7.0 2. Rig hts o f T rustee 81
Se c tion 7.0 3. Individual Rig hts o f T rustee 82

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 Pag e

Se c tion 7.0 4. T rustee’s Disc laimer 83

Se c tion 7.0 5. No tic e o f Defaults 83
Se c tion 7.0 6. Repo rts by T rustee to Ho lders 83
Se c tion 7.0 7. Co mpensatio n and Indemnity 83
Se c tion 7.0 8. Replac ement o f T rustee 84
Se c tion 7.0 9. Suc c esso r T rustee by Merg er, etc . 85
Se c tion 7.10 . Elig ibility; Disqualific atio n 85
Se c tion 7.11. P referential Co llec tio n o f Claims Ag ainst Co mpany 85

ARTICLE 8.

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

Se c tion 8.0 1. Optio n to Effec t Leg al Defeasanc e o r Co venant Defeasanc e 86

Se c tion 8.0 2. Leg al Defeasanc e and Disc harg e 86
Se c tion 8.0 3. Co venant Defeasanc e 86
Se c tion 8.0 4. Co nditio ns to Leg al o r Co venant Defeasanc e 87
Se c tion 8.0 5. Depo sited Cash and U.S. Go vernment Oblig atio ns to Be Held in T rust; Other
Misc ellaneo us P ro visio ns 88
Se c tion 8.0 6. Repayment to Co mpany 89
Se c tion 8.0 7. Reinstatement 89

ARTICLE 9.

AMENDMENT, SU PPLEMENT AND WAIVER

Se c tion 9.0 1. Witho ut Co nsent o f Ho lders o f No tes 89

Se c tion 9.0 2. With Co nsent o f Ho lders o f No tes 90
Se c tion 9.0 3. Co mplianc e with T rust Indenture Ac t 92
Se c tion 9.0 4. Revo c atio n and Effec t o f Co nsents 92
Se c tion 9.0 5. No tatio n o n o r Exc hang e o f No tes 92
Se c tion 9.0 6. T rustee to Sig n Amendments, etc . 92

ARTICLE 10 .

SU BSIDIARY GU ARANTEES

Se c tion 10 .0 1. Subsidiary Guarantees 93

Se c tion 10 .0 2. Limitatio n o n Subsidiary Guaranto r Liability 94
Se c tion 10 .0 3. Evidenc e o f Subsidiary Guarantee 95
Se c tion 10 .0 4. Subsidiary Guaranto rs May Co nso lidate, etc ., o n Certain T erms 95
Se c tion 10 .0 5. Releases Fo llo wing Sale o r Other Dispo sitio n o f Assets 96

ARTICLE 11.

SATISFACTION AND DISCHARGE

Se c tion 11.0 1. Satisfac tio n and Disc harg e 96

Se c tion 11.0 2. Depo sited Cash and U.S. Go vernment Oblig atio ns to Be Held in T rust; Other
Misc ellaneo us P ro visio ns 97

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 Pag e

Se c tion 11.0 3. Repayment to Co mpany 97

ARTICLE 12.

MISCELLANEOU S

Se c tion 12.0 1. T rust Indenture Ac t Co ntro ls 97

Se c tion 12.0 2. No tic es 98
Se c tion 12.0 3. Co mmunic atio n by Ho lders o f No tes with Other Ho lders o f No tes 99
Se c tion 12.0 4. Certific ate and Opinio n as to Co nditio ns P rec edent 99
Se c tion 12.0 5. Statements Required in Certific ate o r Opinio n 99
Se c tion 12.0 6. Rules by T rustee and Ag ents 99
Se c tion 12.0 7. No P erso nal Liability o f Direc to rs, Offic ers, Emplo yees and Sto c kho lders 10 0
Se c tion 12.0 8. Go verning Law 10 0
Se c tion 12.0 9. No Adverse Interpretatio n o f Other Ag reements 10 0
Se c tion 12.10 . Suc c esso rs 10 0
Se c tion 12.11. Severability 10 0
Se c tion 12.12. Co nsent to Jurisdic tio n and Servic e o f P ro c ess 10 0
Se c tion 12.13. Co nversio n o f Currenc y 10 1
Se c tion 12.14. Currenc y Equivalent 10 2
Se c tion 12.15. Co unterpart Orig inals 10 2
Se c tion 12.16. T able o f Co ntents, Heading s, etc . 10 2
Se c tion 12.17. U.S.A. P atrio t Ac t 10 2

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 CROSS-REFERENCE TABLE

TIA Section Section

Reference Indenture

310 7.0 3
310 (a)(1) 7.10
(a)(2) 7.10
(a)(3) N.A.
(a)(4) N.A.
(a)(5) 7.10
(b) 7.10
(c ) N.A.
311 (a) 7.11
(b) 7.11
(c ) N.A.
312 (a) 2.0 5
(b) 12.0 3
(c ) 12.0 3
313 (a) 7.0 6
(b)(1) N.A.
(b)(2) 7.0 6
(c ) 7.0 6, 12.0 2
(d) 7.0 6
314 (a) 4.0 3, 4.0 4, 12.0 5
(b) N.A.
(c )(1) 12.0 4
(c )(2) 12.0 4
(c )(3) N.A.
(d) N.A.
(e ) 12.0 5
315 (a) 7.0 1
(b) 7.0 5
(c ) 7.0 1
(d) 7.0 1
(e ) 6.11
316 (a) (last se nte nc e ) 2.0 9
(a)(1)(A) 6.0 5
(a)(1)(B) 6.0 4
(a)(2) N.A.
(b) 6.0 7
317 (a)(1) 6.0 8
(a)(2) 6.0 9
(b) 2.0 4
318 (a) 12.0 1
318 (c ) 12.0 1
N.A. me ans Not Applic able .

Note : This Cross-Re fe re nc e Table shall not, for any purpose , be de e me d to be part of this Inde nture .
 This INDENTU RE date d as of May 19, 20 15 , is among CASCADES INC., a c orporation org aniz e d
unde r the laws of the Provinc e of Que be c, Canada (the “Company”), the Subsidiary Guarantors liste d on the sig nature
pag e s he re to, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as truste e (the “Trustee”).

All dollar amounts in this Inde nture are e xpre sse d in Canadian dollars unle ss othe rwise spe c i e d o r the
c onte xt re quire s othe rwise. The Company , the Guarantors and the Truste e ag re e as follows for the be ne t of e ac h othe r
and for the e qual and ratable be ne fit of the Holde rs of the 5.75% Se nior Note s due 20 23 (the “Notes”):

ART ICLE 1.

DEFINIT IONS AND INCORP ORAT ION BY REFERENCE

Se c tion 1.0 1. Definitio ns.

For all purpose s of this Inde nture , e xc e pt as othe rwise e xpre ssly pro vide d o r unle ss the c onte xt
othe rwise re quire s:

“144A Global Note” me ans the Global Note or Global Note s substantially in the form of Exhibit A he re to
be aring the Global Note Le g e nd and the Private Plac e me nt Le g e nd and de posite d with and re g iste re d in the name of the
De positary or its nomine e that will be issue d in a de nomination e qual to the outstanding princ ipal amount of the Note s sold
in re lianc e on Rule 144A.

“Additional Assets” me ans:

(a) any Prope rty (othe r than c ash, Te mporary Cash Inve stme nts , se c uritie s and Capital Stoc k ) to
be owne d by the Company or any Re stric te d Subsidiary in a Re late d Busine ss (inc luding any c apital e xpe nditure s
with re spe c t to any Prope rty alre ady owne d or to be owne d);

(b) Capital Stoc k of a Pe rson that be c ome s a Re stric te d Subsidiary as a re sult of the ac quisition of
suc h Capital Stoc k by the Company or anothe r Re stric te d Subsidiary from any Pe rson othe r than the Company or
a Subsidiary of the Company ; or

( c ) Capital Stoc k c onstituting a minority inte re st in any P e rson that at suc h time is a Re stric te d
Subsidiary ;

provided, however, that, in the c ase of c lause s (b) and (c ), suc h Re stric te d Subsidiary is primarily e ng ag e d in a Re late d
Busine ss .

“Additional Notes” me ans any Note s (othe r than Initial Note s ) issue d unde r this Inde nture in ac c ordanc e
with Se c tion 2.0 2, Se c tion 2.14 and Se c tion 4.0 9 he re of, as part of the same se rie s as the Initial Note s or as an additional
se rie s.

“Affiliate” of any spe c ifie d Pe rson me ans any othe r Pe rson dire c tly or indire c tly c ontrolling or c ontrolle d
by or unde r dire c t or indire c t c ommon c ontrol with suc h spe c ifie d Pe rson .

For the purpose s of this de nition, “c ontrol,” whe n use d with re spe c t to any Pe rson me ans the powe r to
dire c t the manag e me nt and polic ie s of suc h Pe rson , dire c tly o r indire c tly, whe the r throug h the owne rship of voting
se c uritie s, by c ontrac t o r othe rwise ; and the te rms “c ontrolling ” and “c ontrolle d” have me aning s c orre lative to the
fore g oing .
 “Agent” me ans any Re g istrar , c o-re g istrar, Paying Ag e nt or additional paying ag e nt.

“Applicable Procedures” me ans, with re spe c t to any transfe r, re de mption or e xc hang e of or for be ne c ial
inte re sts in any Global Note, the rule s and proc e dure s of the De positary , Euroc le ar and Cle arstre am that apply to suc h
transfe r, re de mption or e xc hang e .

“Asset Sale” me ans any sale, le ase, transfe r, issuanc e o r o the r disposition (o r se rie s of re late d sale s,
le ase s, transfe rs, issuanc e s or dispositions that are part of a c ommon plan) by the Company or any Re stric te d Subsidiary ,
inc luding any disposition by me ans of a me rg e r, c onsolidation or similar transac tion (e ac h re fe rre d to for the purpose s of
this de finition as a “disposition”), of

(a) any share s of Capital Stoc k of a Re stric te d Subsidiary (othe r than dire c tors’ qualifying share s or
share s or inte re sts re quire d to be he ld by fore ig n nationals unde r law), or

(b) any othe r Prope rty of the Company or any Re stric te d Subsidiary outside of the ordinary c ourse
of busine ss of the Company or suc h Re stric te d Subsidiary .

Notwithstanding the fore g oing , the following ite ms shall not be de e me d to be Asse t Sale s :

(1) any disposition by a Re stric te d Subsidiary to the Company o r by the Company o r a Re stric te d
Subsidiary to a Re stric te d Subsidiary ;

(2) any disposition that c onstitute s a Pe rmitte d Inve stme nt o r Re stric te d Payme nt pe rmitte d by
Se c tion 4.10 he re of;

(3) any disposition e ffe c te d in c omplianc e with Se c tion 5.0 1(a) he re of o r c onstituting a Chang e of
Control ;

(4) any disposition or se rie s of re late d dispositions with an ag g re g ate Fair Marke t Value and for ne t
proc e e ds (e xc lusive of inde mnitie s) of le ss than the g re ate r of (x) $50 .0 million and (y) 2.0 % ofConsolidate d Ne t
Tang ible Asse ts ;

(5) sale s, transfe rs o r othe r distributions of Prope rty , inc luding Capital Stoc k o f Re stric te d
Subsidiarie s , for c onside ration at le ast e qual to the Fair Marke t Value of the P rope rty s old o r dispose d of, but
only if the c onside ration re c e ive d c onsists of Capital Stoc k of a P e rs on that be c ome s a Re stric te d Subsidiary
e ng ag e d in, or Prope rty (othe r than c ash, e xc e pt to the e xte nt use d as a bona de me ans of e qualiz ing the value
of the P rope rty involve d in the asse t swap transac tion) of a nature o r type that are use d in, a busine ss having
Prope rty of a nature or type , or e ng ag e d in a busine ss similar or re late d to the nature or type of the Prope rty , or
busine sse s of, the Company and its Re stric te d Subsidiarie s e xisting on the date of suc h sale or othe r disposition ;

(6) the c re ation of any Pe rmitte d Lie n ;

(7) any disposition of surplus, disc ontinue d, obsole te o r worn-out e quipme nt o r othe r immate rial
asse ts or othe r pe rsonal Prope rty that is no long e r use d or use ful in the ong oing busine ss of the Company and its
Re stric te d Subsidiarie s ;

(8) any surre nde r, waive r or se ttle me nt of c ontrac t rig hts or re le ase of c ontrac t or tort c laims;

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 (9) any sale of c ash or Te mporary Cash Inve stme nts or the unwinding of any He dg ing Oblig ations ;

(10 ) dispositions of re c e ivable s in c onne c tion with a sale or the c ompromise , se ttle me nt o r c olle c tion
the re of in a bankruptc y or similar proc e e ding ;

(11) the lic e nsing o r sublic e nsing of inte lle c tual prope rty o r othe r g e ne ral intang ible s and lic e nse s,
le ase s, suble ase s or c o-loc ation ag re e me nts with re spe c t to othe r prope rty whic h do not mate rially inte rfe re with
the busine ss of the Company and its Re stric te d Subsidiarie s ;

(12) sale s of inte re sts in or asse ts of U nre stric te d Subsidiarie s ;

(13) any e xc hang e o r trade -in of e quipme nt o r othe r prope rty by the Company o r a ny Re stric te d
Subsidiary in e xc hang e for othe r e quipme nt o r prope rty of a nature o r type that is use d o r to be use d in, the
busine sse s of the Company and its Re stric te d Subsidiarie s ; provided that the Fair Marke t Value of the e quipme nt
o r prope rty re c e ive d is at le ast as g re at as the Fair Marke t Value of the e quipme nt o r othe r prope rty be ing
e xc hang e d or trade d-in;

(14) any sale of Re c e ivable s pursuant to a Qualifie d Re c e ivable s Transac tion ;

(15) any disposition of Prope rty by the Company or any Subsidiary in c onne c tion with the transfe r of
the Company ’s Laroc he tte mill to Re no de Me dic i S.p.A. o r in c onne c tion with transac tions re lating to Borale x
Inc ., Re no de Me dic i S.p.A. or Casc ade s Re c ove ry Inc .; and

(16) any disposition arising from fore c losure, c onde mnation o r similar ac tion with re spe c t to any
pro pe rty o r othe r asse ts, o r e xe rc ise of te rmination rig hts unde r any le ase, lic e nse, c onc e ssion o r othe r
ag re e me nt or pursuant to buy/se ll arrang e me nts unde r any joint ve nture or similar ag re e me nt or arrang e me nt.

“Attributable Debt” in re spe c t of a Sale and Le ase bac k Transac tion me ans, at any date of de te rmination,

(a) if suc h Sale and Le ase bac k Transac tion is a Capital Le ase Oblig ation , the amount of De bt
re pre se nte d the re by ac c ording to the de finition of “Capital Le ase Oblig ations ,” and

(b) in all othe r instanc e s the pre se nt value (disc ounte d at the inte re st rate implic it in suc h transac tion
c ompounde d annually) of the total oblig ations of the le sse e for re ntal payme nts during the re maining te rm of the
le ase inc lude d in suc h Sale and Le ase bac k Transac tion (inc luding any pe riod for whic h suc h le ase has be e n
e xte nde d).

“Average Life” me ans, as of any date of de te rmination, with re spe c t to any De bt , the quotie nt obtaine d
by dividing :

(a) the sum of the produc t of the numbe rs of ye ars (rounde d to the ne are st one -twe lfth of one ye ar)
from the date of de te rmination to the date s of e ac h suc c e ssive sc he dule d princ ipal payme nt of suc h D e bt or
re de mption or similar payme nt with re spe c t to suc h Pre fe rre d Stoc k multiplie d by the amount of suc h payme nt by

(b) the sum of all suc h payme nts.

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 “Bankruptcy Law” me ans Title 11, U.S. Code or any similar fe de ral or state law for the re lie f of de btors,
the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada) o r any othe r Canadian
fe de ral o r provinc ial law o r the law of any othe r jurisdic tion re lating to bankruptc y, insolve nc y, winding up, liquidation,
re org aniz ation or re lie f of de btors.

“Board of Directors” me ans, as to any Pe rson , the board of dire c tors o r manag e rs, as applic able, of
s uc h P e rs o n (or , if suc h P e rs o n is a partne rship, the board of dire c tors o r othe r g ove rning body of the g e ne ral
partne rship of suc h Pe rson ) or , in e ac h c ase , any duly authoriz e d c ommitte e .

“Board Resolution” me ans a c opy of a re solution c e rti e d by the Se c re tary or an Assistant Se c re tary of
the applic able P e rson to have be e n duly adopte d by the Board of Dire c tors of suc h P e rson and to be in full forc e and
e ffe c t on the date of suc h c e rtific ation, and de live re d to the Truste e .

“Business Day” me ans e ac h day whic h is not a Saturday, Sunday o r a day on whic h c omme rc ial banks
are authoriz e d or re quire d to c lose in Ne w York City or Montre al.

“Capital Lease Obligations” me ans any oblig ation unde r a le ase that is re quire d to be c apitaliz e d for
nanc ial re porting purpose s in ac c ordanc e with GAAP ; and the amount of De bt re pre se nte d by suc h oblig ation shall be
the c apitaliz e d amount of suc h oblig ations de te rmine d in ac c ordanc e with GAAP ; and the State d Maturity the re of shall
be the date of the last payme nt of re nt or any othe r amount due unde r suc h le ase prior to the rst date upon whic h suc h
le ase may be te rminate d by the le sse e without payme nt of a pe nalty. For purpose s of Se c tion 4.11 he re of, a Capital Le ase
Oblig ation shall be de e me d se c ure d by a Lie n on the Prope rty be ing le ase d.

“Capital Stock” me ans, with re spe c t to any Pe rson , any share s o r othe r e quivale nts (howe ve r
de sig nate d) of any c lass of c orporate stoc k, limite d liability c ompany inte re sts o r partne rship inte re sts o r any othe r
partic ipations, rig hts, warrants, options o r othe r inte re sts in the nature of an e quity inte re st in suc h Pe rson , inc luding
Pre fe rre d Stoc k , but e xc luding any de bt se c urity c onve rtible or e xc hang e able into suc h e quity inte re st.

“Capital Stock Sale Proceeds” me ans the ag g re g ate c ash proc e e ds re c e ive d by the Company from the
issuanc e or sale (othe r than to a Subsidiary of the Company or an e mploye e stoc k owne rship plan o r trust e stablishe d by
the Company or any suc h Subsidiary for the be ne t of the ir e mploye e s to the e xte nt suc h sale is nanc e d by loans from or
Guarante e d by the Company or any Re stric te d Subsidiary unle ss suc h loans have be e n re paid with c ash on or prior to the
date of de te rmination) by the Company of its Capital Stoc k (othe r than Disquali e d Stoc k ) afte r the Issue Date , ne t of
attorne ys’ fe e s, ac c ountants’ fe e s, unde rwrite rs’ o r plac e me nt ag e nts’ fe e s, disc ounts o r c ommissions and broke rag e,
c onsultant and othe r fe e s ac tually inc urre d in c onne c tion with suc h issuanc e or sale and ne t of taxe s paid o r payable as a
re sult the re of.

“Change of Control” me ans the oc c urre nc e of any of the following e ve nts:

(a) any “ person” or “group” (as suc h te rms are use d in Se c tions 13(d) and 14(d) of the Exc hang e
Ac t o r any suc c e ssor provisions to e ithe r of the fore g oing ) of pe rsons, inc luding any g roup ac ting for the
purpose of ac quiring , holding , voting or disposing of se c uritie s within the me aning of Rule 13d-5(b)(1) unde r the
Exc hang e Ac t , othe r than the Pe rmitte d Holde rs , be c ome s the “bene cial owner” (as de ne d in Rule 13d-3
unde r the Exc hang e Ac t ), of more than 50 % of the total voting powe r of the Voting Stoc k of the Company ; or

(b) the sale, transfe r, assig nme nt, le ase, c onve yanc e or othe r disposition , dire c tly o r indire c tly, of
all or substantially all the Prope rty of the Company and its Re stric te d Subsidiarie s ,

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 c onside re d as a whole (othe r than a disposition of suc h P rope rty as an e ntire ty o r virtually as an e ntire ty to a
Re stric te d Subsidiary o r o n e o r m o re Pe rmitte d Holde rs ) shall have oc c urre d, o r t h e Co mpany me rg e s,
c onsolidate s, liquidate s, dissolve s, winds-up o r amalg amate s with o r into any othe r P e rs on (othe r than one or
m o r e Pe rmitte d Holde rs ) o r any othe r P e rs o n (othe r than one o r m o r e Pe rmitte d Holde rs ) me rg e s,
c onsolidate s, liquidate s, dissolve s, winds-up o r amalg amate s with o r into the Company , in any suc h e ve nt
pursuant to a transac tion in whic h the outstanding Voting Stoc k of the Company is re c lassi e d into o r e xc hang e d
for c ash, se c uritie s or othe r Prope rty , othe r than any suc h transac tion whe re :

(1) the outstanding Voting Stoc k of the Company is re c lassi e d into or e xc hang e d for othe r
Voting Stoc k of the Company or for Voting Stoc k of the Surviving Pe rson , and

(2) the holde rs of the Voting Stoc k of the Company imme diate ly prior to suc h transac tion
own, dire c tly or indire c tly, not le ss than a majority of the Voting Stoc k of the Company o r the Surviving
P e rs o n imme diate ly afte r suc h transac tion and in substantially the same proportion as be fore the
transac tion; or

(c ) the share holde rs of the Company shall have approve d any plan of liquidation or dissolution of the
Company .

“Clearstream” me ans Cle arstre am Banking S.A. and any suc c e ssor the re to.

“Code” me ans the Inte rnal Re ve nue Code of 1986, as ame nde d.

“Commission” me ans the U .S. Se c uritie s and Exc hang e Commission.

“Commodity Price Protection Agreement” me ans, in re spe c t of a Pe rson , any c ommodity future s
c ontrac t, forward c ontrac t, c ommodity swap ag re e me nt, c ommodity option ag re e me nt o r othe r similar ag re e me nt or
arrang e me nt (inc luding de rivative ag re e me nts o r arrang e me nts) de sig ne d to prote c t suc h P e rson ag ainst uc tuations in
c ommodity pric e s.

“Comparable Treasury Issue” me ans the U nite d State s tre asury se c urity se le c te d by an Inde pe nde nt
Inve stme nt Banke r as having a maturity c omparable to the re maining te rm of the Note s that would be utiliz e d, at the time
of se le c tion and in ac c ordanc e with c ustomary nanc ial prac tic e, in pric ing ne w issue s of c orporate de bt se c uritie s of
c omparable maturity to the re maining te rm of suc h Note s .

“Comparable Treasury Price” me ans, with re spe c t to any re de mption date :

(a) the ave rag e of the bid and ask pric e s for the Comparable Tre asury Issue (e xpre sse d in e ac h c ase
as a pe rc e ntag e of its princ ipal amount) on the third busine ss day pre c e ding suc h re de mption date, as se t forth in
the most re c e ntly publishe d statistic al re le ase de sig nate d “H.15(519)” ( o r any suc c e ssor re le ase ) publishe d by
the Board of Gove rnors of the Fe de ral Re se rve Syste m and whic h e stablishe s yie lds on ac tive ly trade d U nite d
State s tre asury se c uritie s adjuste d to c onstant maturity unde r the c aption “Tre asury Constant Maturitie s,” or

(b) if suc h re le ase (o r any suc c e ssor re le ase ) is not publishe d o r doe s not c ontain suc h pric e s on
suc h busine ss day, the ave rag e of the Re fe re nc e Tre asury De ale r Quotations for suc h re de mption date .

-5-
 “Consolidated Current Liabilities” me ans, as of any date of de te rmination, the ag g re g ate amount of
liabilitie s of the Company and its Re stric te d Subsidiarie s (base d on the most re c e nt quarte rly o r annual pe riod for whic h
the Company ’s nanc ial state me nts are public ly available ) whic h may prope rly be c lassi e d as c urre nt liabilitie s ( inc luding
taxe s ac c rue d as e stimate d), afte r e liminating :

(a) all inte rc ompany ite ms be twe e n the Company and any Re stric te d Subsidiary o r be twe e n
Re stric te d Subsidiarie s , and

(b) all c urre nt maturitie s of long -te rm De bt .

“Consolidated Interest Coverage Ratio” me ans, as of any date of de te rmination, the ratio of:

(a) the ag g re g ate amount of EBITDA for the most re c e nt four c onse c utive sc al quarte rs for whic h
financ ial state me nts are public ly available prior to suc h de te rmination date to

(b) Consolidate d Inte re st Expe nse for suc h four fisc al quarte rs;

provided, however, that:

(1) if

(A) sinc e the be g inning of suc h pe riod the Company o r a ny Re stric te d Subsidiary has
Inc urre d any De bt that re mains outstanding or Re paid any De bt , or

(B) the transac tion g iving rise to the ne e d to c alc ulate the Consolidate d Inte re st Cove rag e
Ratio is an Inc urre nc e or Re payme nt of De bt ,

Consolidate d Inte re st Expe nse for suc h pe riod shall be c alc ulate d afte r g iving e ffe c t on a pro forma basis to suc h
Inc urre nc e or Re payme nt as if suc h De bt was Inc urre d o r Re paid on the rst day of suc h pe riod (e xc e pt that in
making suc h c omputation, the amount of De bt unde r any re volving c re dit fac ility outstanding on the date of suc h
c alc ulation will be de e me d to be (i) the ave rag e daily balanc e of suc h De bt during suc h four fisc al quarte rs or suc h
shorte r pe riod for whic h suc h fac ility was outstanding or (ii) if suc h fac ility was c re ate d afte r the e nd of suc h four
sc al quarte rs, the ave rag e daily balanc e of suc h De bt during the pe riod from the date of c re ation of suc h fac ility
to the date of suc h c alc ulation); and

(2) if

(A) sinc e the be g inning of suc h pe riod the Company or any Re stric te d Subsidiary shall have
made any Asse t Sale o r othe r disposition o r a n Inve stme nt (by me rg e r o r othe rwise ) in any Re stric te d
Subsidiary (o r any P e rson whic h be c ome s a Re stric te d Subsidiary ) o r an ac quisition of P rope rty whic h
c onstitute s all o r substantially all of a c ompany, division, ope rating unit, se g me nt, busine ss, g roup of
re late d busine sse s or asse ts of a busine ss,

(B) the transac tion g iving rise to the ne e d to c alc ulate the Consolidate d Inte re st Cove rag e
Ratio is suc h an Asse t Sale or othe r disposition , Inve stme nt or ac quisition, or

-6-
 (C) sinc e the be g inning of suc h pe riod any Pe rson (that subse que ntly be c ame a Re stric te d
Subsidiary or was me rg e d with o r into the Company o r any Re stric te d Subsidiary sinc e the be g inning of
suc h pe riod) shall have made suc h an Asse t Sale or othe r disposition , Inve stme nt or ac quisition,

the n EBITDA for suc h pe riod shall be c alc ulate d afte r g iving pro forma e ffe c t to suc h Asse t Sale o r o the r disposition ,
Inve stme nt o r ac quisition as if suc h Asse t Sale o r othe r disposition , Inve stme nt o r ac quisition had oc c urre d on the rst
day of suc h pe riod.

If any De bt be ars a oating rate of inte re st and is be ing g ive n pro forma e ffe c t, the inte re st e xpe nse on
s uc h D e bt shall be c alc ulate d as if the base inte re st rate in e ffe c t for suc h oating rate of inte re st on the date of
de te rmination had be e n the applic able base inte re st rate for the e ntire pe riod (taking into ac c ount any Inte re st Rate
Ag re e me nt applic able to suc h De bt ). If any De bt be ars inte re st, at the option of the Company or a Re stric te d Subsidiary
, at a rate of inte re st base d on a prime or similar rate, a e uroc urre nc y inte rbank offe re d rate or othe r fixe d or oating rate,
and suc h De bt is be ing g ive n pro forma e ffe c t, the inte re st e xpe nse with re spe c t to suc h De bt shall be c alc ulate d for the
e ntire pe riod by applying suc h optional rate as shall be in e ffe c t as of the date of de te rmination. Inte re st on a Capital
Le ase Oblig ation shall be de e me d to ac c rue at an inte re st rate de te rmine d in g ood faith by a re sponsible nanc ial or
ac c ounting of c e r of the Company to be the rate of inte re st implic it in suc h Capital Le ase Oblig ation in ac c ordanc e with
GAAP . In addition, in the e ve nt the Capital Stoc k of any Re stric te d Subsidiary is sold during the pe riod, the Company
shall be de e me d, for purpose s of c lause (1) above, to have Re paid during suc h pe riod the De bt of suc h Re stric te d
Subsidiary to the e xte nt the Company and its c ontinuing Re stric te d Subsidiarie s are no long e r liable for suc h De bt afte r
suc h sale .

“Consolidated Interest Expense” me ans, for any pe riod, the total inte re st e xpe nse, ne t of any inte re st
inc ome of the Co mpany and its Re stric te d Subsidiarie s and e xc luding inte re st e xpe nse re lating to e mploye e future
be ne ts, of the Company and its Re stric te d Subsidiarie s , plus, to the e xte nt not inc lude d in suc h total inte re st e xpe nse,
and to the e xte nt Inc urre d by the Company or its Re stric te d Subsidiarie s :

(a) inte re st e xpe nse attributable to le ase s c onstituting part of a Sale and Le ase bac k Transac tion and
to Capital Le ase Oblig ations ;

(b) amortiz ation of de bt disc ount and de bt issuanc e c ost e xc luding amortiz ation of de fe rre d and
othe r nanc ing fe e s; provided , however, that any amortiz ation of bond pre mium will be c re dite d to re duc e
Consolidate d Inte re st Expe nse unle ss, pursuant to GAAP , suc h amortiz ation of bond pre mium has othe rwise
re duc e d Consolidate d Inte re st Expe nse ;

(c ) c apitaliz e d inte re st;

(d) non-c ash inte re st e xpe nse (but e xc luding any non-c ash inte re st e xpe nse attributable to the
move me nt in the mark-to-marke t valuation of He dg ing Oblig ations o r othe r de rivative instrume nts pursuant to
GAAP );

(e ) c ommissions, disc ounts and othe r fe e s and c harg e s owe d with re spe c t to le tte rs of c re dit and
banke rs’ ac c e ptanc e financ ing ;

(f) ne t payme nts assoc iate d with Inte re st Rate Ag re e me nts (inc luding amortiz ation of fe e s)
provided , however, that if Inte re st Rate Ag re e me nts re sult in ne t re c e ipts rathe r than ne t payme nts, suc h
payme nts shall be c re dite d to re duc e Consolidate d Inte re st Expe nse unle ss, pursuant to GAAP , suc h ne t
payme nts are othe rwise re fle c te d in Consolidate d Ne t Inc ome ;

-7-
 ( g ) Disquali e d Stoc k Divide nds to the e xte nt made to P e rs ons othe r than the Company o r a
Re stric te d Subsidiary ;

( h ) Pre fe rre d Stoc k Divide nds to the e xte nt made to P e rs ons othe r than the Co mpany o r a
Re stric te d Subsidiary ;

(i) inte re st Inc urre d in c onne c tion with Inve stme nts in disc ontinue d ope rations;

(j) inte re st ac c ruing on any De bt of any othe r Pe rson to the e xte nt suc h De bt is Guarante e d by the
Company or any Re stric te d Subsidiary ; and

(k) the c ash c ontributions to any e mploye e stoc k owne rship plan or similar trust to the e xte nt suc h
c ontributions are use d by suc h plan o r trust to pay inte re st o r fe e s to any P e rson (othe r than the Company ) in
c onne c tion with De bt Inc urre d by suc h plan or trust.

“Consolidated Net Income” me ans, for any pe riod, the ne t inc ome (loss) of the Co mpany and its
Re stric te d Subsidiarie s (de te rmine d in ac c ordanc e with GAAP ) ; provided , however, that the re shall not be inc lude d in
suc h Consolidate d Ne t Inc ome :

(a) any ne t inc ome (loss) of any Pe rson (othe r than the Company ) if suc h Pe rson is not a Re stric te d
Subsidiary , e xc e pt that:

(1) subje c t to the e xc lusion c ontaine d in c lause (c ) be low, the e quity of the Company and its
Re stric te d Subsidiarie s in the ne t inc ome of any suc h P e rson for suc h pe riod shall be inc lude d in suc h
Consolidate d Ne t Inc ome up to the ag g re g ate amount of c ash distribute d by suc h P e rson during suc h
pe riod to the Company or a Re stric te d Subsidiary as a divide nd or othe r distribution (subje c t, in the c ase
of a divide nd o r othe r distribution to a Re stric te d Subsidiary , to the limitations c ontaine d in c lause (b)
be low), and

(2) the e quity of the Company and its Re stric te d Subsidiarie s in a ne t loss of any suc h Pe rson
othe r than an U nre stric te d Subsidiary for suc h pe riod shall be inc lude d in de te rmining suc h Consolidate d
Ne t Inc ome ;

(b) any ne t inc ome (loss) of any Re stric te d Subsidiary if suc h Re stric te d Subsidiary is subje c t to
re stric tions, dire c tly or indire c tly, on the payme nt of divide nds or the making of distributions, dire c tly or indire c tly,
to the Company , e xc e pt that:

(1) subje c t to the e xc lusion c ontaine d in c lause (c ) be low, the e quity of the Company and its
Re stric te d Subsidiarie s in the ne t inc ome of any suc h Re stric te d Subsidiary for suc h pe riod shall be
inc lude d in suc h Consolidate d Ne t Inc ome up to the ag g re g ate amount of c ash distribute d by suc h
Re stric te d Subsidiary during suc h pe riod to the Company or anothe r Re stric te d Subsidiary as a divide nd
o r othe r distribution (subje c t, in the c ase of a divide nd o r othe r distribution to anothe r Re stric te d
Subsidiary , to the limitation c ontaine d in this c lause ), and

(2) the e quity of the Company and its Re stric te d Subsidiarie s in a ne t loss of any suc h
Re stric te d Subsidiary for suc h pe riod shall be inc lude d in de te rmining suc h Consolidate d Ne t Inc ome ;

-8-
 (c ) any g ain (loss) re aliz e d upon the sale or othe r disposition of any Prope rty of the Company or any
of its Re stric te d Subsidiarie s o r a ny Pe rmitte d Joint Ve nture (inc luding pursuant to any Sale and Le ase bac k
Transac tion ) that is not sold o r othe rwise dispose d of in the ordinary c ourse of busine ss (provided that sale s or
othe r dispositions of asse ts in c onne c tion with any Qualifie d Re c e ivable s Transac tion shall be de e me d to be in the
ordinary c ourse ), and fe e s and e xpe nse s re lating to any sale o r o the r disposition o r ac quisition of Prope rty ,
re g ardle ss of whe the r suc h transac tion is c onsummate d;

(d) the e ffe c t of any non-c ash ite ms re sulting from any amortiz ation, write -up, write -down o r write -
off of asse ts (inc luding intang ible asse ts, g oodwill and de fe rre d nanc ing c osts but e xc luding inve ntory) of the
Company o r any of its Re stric te d Subsidiarie s o r any Pe rmitte d Joint Ve nture inc urre d subse que nt to the Issue
D a te (e xc luding any suc h non-c ash ite m to the e xte nt that it re pre se nts an ac c rual of o r re se rve for c ash
e xpe nditure s in any future pe riod e xc e pt to the e xte nt suc h ite m is subse que ntly re ve rse d);

(e ) any e xtraordinary g ain or loss (inc luding fe e s and e xpe nse s re lating to any e ve nt o r transac tion
g iving rise the re to);

(f) any g ain or loss arising from any re financ ing , re purc hase or e xting uishme nt of De bt ;

(g ) any unre aliz e d g ain o r loss attributable to the move me nt in the mark to marke t valuation of
He dg ing Oblig ations , othe r de rivative instrume nts and othe r ite ms pursuant to GAAP ;

(h) the c umulative e ffe c t of a c hang e in ac c ounting princ iple s;

(i) any g ain o r loss arising from fore ig n c urre nc y uc tuations on fore ig n c urre nc y de nominate d
De bt ; and

(j) any non-c ash c ompe nsation e xpe nse re aliz e d for g rants of pe rformanc e share s, stoc k options or
othe r rig hts to offic e rs, dire c tors and e mploye e s of the Company or any Re stric te d Subsidiary .

Notwithstanding the fore g oing , for purpose s of Se c tion 4.10 he re of only, the re shall be e xc lude d from
Consolidate d Ne t Inc ome any divide nds, re payme nts of loans o r advanc e s o r othe r transfe rs of P ro pe rty from
U nre stric te d Subsidiarie s to the Company or a Re stric te d Subsidiary to the e xte nt suc h divide nds, re payme nts or transfe rs
inc re ase the amount of Re stric te d Payme nts pe rmitte d pursuant to Se c tion 4.10 (a)(iii)(D) he re of. In addition, any c ash
payme nts made during suc h pe riod in re spe c t of non-c ash c harg e s o r othe r ite ms de sc ribe d above in this de nition
subse que nt to the fisc al quarte r in whic h the re le vant non-c ash c harg e s we re adde d bac k shall be de duc te d.

“Consolidated Net Tangible Assets” me ans, as of any date of de te rmination, the sum of the amounts that
would appe ar on a c onsolidate d balanc e she e t of the Company and its Re stric te d Subsidiarie s (base d upon the most
re c e nt quarte rly or annual pe riod for whic h the Company ’s nanc ial state me nts are public ly available ) as the total asse ts
(le ss ac c umulate d de pre c iation and amortiz ation, allowanc e s for doubtful re c e ivable s, othe r applic able re se rve s and othe r
prope rly de duc tible ite ms) of the Company and its Re stric te d Subsidiarie s , afte r g iving e ffe c t to purc hase ac c ounting and
afte r de duc ting the re from Consolidate d Curre nt Liabilitie s and, to the e xte nt othe rwise inc lude d, the amounts of (without
duplic ation):

-9-
 (a) the e xc e ss of c ost ove r fair marke t value of asse ts or busine sse s ac quire d;

(b) any re valuation or othe r write -up in book value of asse ts subse que nt to the last day of the sc al
quarte r of the Company imme diate ly pre c e ding the Issue Date as a re sult of a c hang e in the me thod of valuation
in ac c ordanc e with GAAP ;

(c ) unamortiz e d de bt disc ount and e xpe nse s and othe r unamortiz e d de fe rre d c harg e s, g ood-will,
pate nts, trade marks, se rvic e marks, trade name s, c opyrig hts, lic e nse s, org aniz ation o r de ve lopme ntal e xpe nse s
and othe r intang ible ite ms;

(d) minority inte re sts in c onsolidate d Subsidiarie s he ld by P e rsons othe r than the Company o r any
Re stric te d Subsidiary ;

(e ) tre asury stoc k; and

(f) c ash or se c uritie s se t aside and he ld in a sinking or othe r similar fund e stablishe d for the purpose
of re de mption o r othe r re tire me nt of Capital Stoc k to the e xte nt suc h oblig ation is not re e c te d in Consolidate d
Curre nt Liabilitie s .

“Corporate Trust Of ce of the Trustee” me ans the princ ipal of c e of the Truste e at whic h at any time its
c orporate trust busine ss shall be administe re d, whic h of c e at the date he re of is loc ate d at 150 East 42nd Stre e t, 40 th
Floor, Ne w York, Ne w York 10 0 17 o r suc h othe r addre ss as the Truste e may de sig nate from time to time by notic e to
the Holde rs and the Company , or the princ ipal c orporate trust of c e of any suc c e ssor Truste e (o r suc h othe r addre ss as
suc h suc c e ssor Truste e may de sig nate from time to time by notic e to the Holde rs and the Company ).

“Credit Facility” me ans the De bt re pre se nte d by:

(a) one or more de bt fac ilitie s, c omme rc ial pape r fac ilitie s or instrume nts, in e ac h c ase with banks or
othe r le nde rs providing for re volving c re dit loans, te rm loans, le tte rs of c re dit o r de bt se c uritie s, inc luding ,
without limitation, the Ame nde d and Re state d Cre dit Ag re e me nt, date d as of Fe bruary 10 , 20 11,as ame nde d,
among the Company , c e rtain of its Subsidiarie s , the le nde rs party the re to, The National Bank of Canada, as
Administrative Ag e nt and The Bank of Nova Sc otia, as Collate ral Ag e nt, tog e the r with the re late d doc ume nts
the re to (inc luding , without limitation, any g uarante e ag re e me nts and se c urity doc ume nts), as the same may be
ame nde d, supple me nte d o r othe rwise modi e d from time to time, inc luding ame ndme nts, supple me nts or
modi c ations re lating to the addition or e limination of Subsidiarie s of the Company as borrowe rs, g uarantors or
othe r c re dit partie s the re unde r; and

(b) any re ne wal, e xte nsion, re funding , re struc turing , re plac e me nt o r re nanc ing the re of (whe the r
with the orig inal Administrative and/or Collate ral Ag e nt and le nde rs or anothe r administrative ag e nt o r ag e nts or
one or more othe r le nde rs and whe the r provide d unde r the orig inal Cre dit Fac ility or o ne o r more othe r c re dit or
othe r ag re e me nts or note s or othe r se c uritie s issue d pursuant to an inde nture ).

“Currency Exchange Protection Agreement” me ans, in re spe c t of a Pe rson , any fore ig n e xc hang e
c ontrac t, c urre nc y swap ag re e me nt, future s c ontrac t, c urre nc y option o r othe r similar ag re e me nt o r arrang e me nt
de sig ne d to prote c t suc h Pe rson ag ainst fluc tuations in c urre nc y e xc hang e rate s.

“Custodian” me ans, with re spe c t to the Note s issuable o r issue d in whole o r in part in g lobal form, the
Pe rson spe c ifie d in Se c tion 2.0 3 he re of as Custodian with re spe c t to the Note s , any and

-10 -
all suc c e ssors the re to appointe d as c ustodian he re unde r and having be c ome suc h pursuant to the applic able provisions of
this Inde nture .

“Debt” me ans, with re spe c t to any Pe rson on any date of de te rmination (without duplic ation):

(a) any inde bte dne ss of any Pe rson :

(1) in re spe c t of mone y borrowe d, or

(2) e vide nc e d by note s, de be nture s, bonds or othe r similar instrume nts for the payme nt of
whic h suc h Pe rson is re sponsible or liable ;

(b) all Capital Le ase Oblig ations of suc h P e rson and all Attributable De bt in re spe c t of Sale and
Le ase bac k Transac tions e nte re d into by suc h Pe rson ;

(c ) all oblig ations of suc h P e rs on re pre se nting the de fe rre d purc hase pric e of Prope rty , all
c onditional sale oblig ations of suc h Pe rson and all oblig ations of suc h Pe rson unde r any title re te ntion ag re e me nt
(but e xc luding trade ac c ounts payable arising in the ordinary c ourse of busine ss), but only to the e xte nt that suc h
purc hase pric e is due more than six months afte r the date of plac ing suc h Prope rty in se rvic e for taking de live ry
and title the re in;

(d) all oblig ations of suc h P e rson for the re imburse me nt of any oblig or on any le tte r of c re dit,
banke rs’ ac c e ptanc e or similar c re dit transac tion (othe r than oblig ations with re spe c t to le tte rs of c re dit se c uring
oblig ations (othe r than oblig ations de sc ribe d in (a) throug h (c ) above ) e nte re d into in the ordinary c ourse of
busine ss of suc h P e rson to the e xte nt suc h le tte rs of c re dit are not drawn upon or , if and to the e xte nt drawn
upon, suc h drawing is re imburse d no late r than the third Busine ss Day following re c e ipt by suc h P e rs on of a
de mand for re imburse me nt following payme nt on the le tte r of c re dit);

(e ) the amount of all oblig ations of suc h Pe rson with re spe c t to the Re payme nt of any Disqualifie d
Stoc k or , with re spe c t to any Subsidiary of suc h Pe rson that is not a Subsidiary Guarantor , any Pre fe rre d Stoc k
(but e xc luding , in e ac h c ase , any ac c rue d divide nds);

(f) all oblig ations of the type re fe rre d to in c lause s (a) throug h (e ) above of othe r P e rsons and all
divide nds of othe r Pe rsons for the payme nt of whic h, in e ithe r c ase, suc h Pe rson is re sponsible o r liable, dire c tly
or indire c tly, as oblig or, g uarantor or othe rwise , inc luding by me ans of any Guarante e ;

(g ) all oblig ations of the type re fe rre d to in c lause s (a) throug h (f) above of othe r P e rsons se c ure d
by any Lie n on any P rope rty of suc h P e rson (whe the r o r not suc h oblig ation is assume d by suc h Pe rson ), the
amount of suc h oblig ation be ing de e me d to be the le sse r of the Fair Marke t Value of suc h P rope rty and the
amount of the oblig ation so se c ure d; and

(h) to the e xte nt not othe rwise inc lude d in this de finition, He dg ing Oblig ations of suc h Pe rson .

The amount of De bt of any Pe rson at any date shall be the outstanding balanc e , or the ac c re te d value of suc h De bt in the
c ase of De bt issue d with orig inal issue disc ount, at suc h date of all unc onditional oblig ations as de sc ribe d above. The
amount of De bt re pre se nte d by a He dg ing Oblig ation shall be e qual to:

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 (1) z e ro if suc h He dg ing Oblig ation has be e n Inc urre d pursuant to c lause (v), (vi) or (vii) of Se c tion
4.0 9(b) he re of; or

(2) the notional amount of suc h He dg ing Oblig ation if not Inc urre d pursuant to suc h c lause s.

Notwithstanding the fore g oing , De bt shall not inc lude (a) any e ndorse me nts for c olle c tion o r de posits in
the ordinary c ourse of busine ss, (b) any re aliz ation of a Pe rmitte d Lie n , and (c ) De bt that has be e n de fe ase d o r satisfie d
in ac c ordanc e with the te rms of the doc ume nts g ove rning suc h Inde bte dne ss. With re spe c t to any De bt de nominate d in a
fore ig n c urre nc y, for purpose s of de te rmining c omplianc e with any Canadian-dollar de nominate d re stric tion on the
Inc urre nc e of suc h De bt unde r Se c tion 4.0 9 he re of, the amount of suc h De bt shall be c alc ulate d base d on the c urre nc y
e xc hang e rate in e ffe c t at the e nd of the most re c e nt sc al quarte r for whic h nanc ial state me nts have be e n made public ly
available .

“Default” me ans any e ve nt whic h is, o r afte r notic e o r passag e of time o r both would be, an Eve nt of
De fault .

“De nitive Note ” me ans a c e rti c ate d Note re g iste re d in the name of the Holde r the re of and issue d in
ac c ordanc e with Se c tion 2.0 6 he re of, in substantially the form of Exhibit A he re to e xc e pt that suc h Note shall not be ar the
Global Note Le g e nd and shall not have the “Sc he dule of Exc hang e s of Inte re sts in the Global Note ” attac he d the re to.

“Depositary” me ans, with re spe c t to the Note s issuable o r issue d in whole o r in part in g lobal form, the
Pe rson spe c i e d in Se c tion 2.0 3 he re of as the De positary with re spe c t to the Note s , and any and all suc c e ssors the re to
appointe d as de positary he re unde r and having be c ome suc h pursuant to the applic able provisions of this Inde nture .

“Designated Noncash Consideration” me ans the fair marke t value of any non-c ash c onside ration re c e ive d
by the Company o r a ny Re stric te d Subsidiary of the Company in c onne c tion with an Asse t Sale that is de sig nate d as
De sig nate d Nonc ash Conside ration pursuant to an Offic e rs ’ Ce rtific ate .

“Disquali ed Stock” me ans, with re spe c t to any Pe rson , any Capital Stoc k that by its te rms (o r by the
te rms of any se c urity into whic h it is c onve rtible or for whic h it is e xc hang e able, in e ithe r c ase at the option of the holde r
the re of) or othe rwise :

(a) mature s or is mandatorily re de e mable pursuant to a sinking fund oblig ation or othe rwise ,

(b) is or may be c ome re de e mable or re purc hase able at the option of the holde r the re of, in whole or
in part, or

(c ) is c onve rtible or e xc hang e able at the option of the holde r the re of for De bt or Disqualifie d Stoc k ,

o n o r prior to, in the c ase of c lause (a), (b) o r (c ), 91 days afte r the State d Maturity of the Note s ; provided that any
Capital Stoc k that would c onstitute Disquali e d Stoc k sole ly be c ause the holde rs the re of have the rig ht to re quire the
Company to re purc hase suc h Capital Stoc k upon the oc c urre nc e of a c hang e of c ontrol or asse t sale o r disposition (e ac h
as de ne d in a similar manne r to the c orre sponding de nitions in this Inde nture ) shall not c onstitute Disquali e d Stoc k if
the te rms of suc h Capital Stoc k (and all suc h se c uritie s into whic h it is c onve rtible o r for whic h it is ratable or
e xc hang e able ) provide that the Company

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may not re purc hase or re de e m any suc h Capital Stoc k (and all suc h se c uritie s into whic h it is c onve rtible or for whic h it is
ratable o r e xc hang e able ) pursuant to suc h provision prior to c omplianc e by the Company with Se c tion 4.12; and suc h
re purc hase or re de mption c omplie s with Se c tion 4.10 .

Notwithstanding the fore g oing , Capital Stoc k issue d to any e mploye e be ne t plan, or by any suc h plan to
any e mploye e s of the Company o r a ny Subsidiary , shall not c onstitute Disquali e d Stoc k sole ly be c ause it may be
re quire d to be re purc hase d o r othe rwise ac quire d o r re tire d in orde r to satisfy applic able statutory o r re g ulatory
oblig ations.

“Disquali ed Stock Dividends” me ans all divide nds with re spe c t to Disquali e d Stoc k of the Company
he ld by P e rsons othe r than a Re stric te d Subsidiary . The amount of any suc h divide nd shall be e qual to the quotie nt of
suc h divide nd divide d by the diffe re nc e be twe e n one and the maximum statutory fe de ral inc ome tax rate (e xpre sse d as a
de c imal numbe r be twe e n 1 and 0 ) the n applic able to the Company .

“Distribution Compliance Period ” me ans the 40 -day distribution c omplianc e pe riod as de ne d in

Re g ulation S.

“EBITDA” me ans, for any pe riod, an amount e qual to, for the Company and its Re stric te d Subsidiarie s :

(a) the sum of Consolidate d Ne t Inc ome for suc h pe riod, plus the following to the e xte nt re duc ing
Consolidate d Ne t Inc ome for suc h pe riod:

(1) the provision for taxe s base d on inc ome or profits or utiliz e d in c omputing ne t loss; plus

(2) Consolidate d Inte re st Expe nse plus inte re st e xpe nse re lating to e mploye e future be ne ts;
plus

(3) de pre c iation; plus

(4) amortiz ation of intang ible s; plus

(5) the amount of any re struc turing c harg e s or re se rve s (whic h for the avoidanc e of doubt
shall inc lude se ve ranc e c ontrac ts, te rmination c osts ( inc luding pe nsion se ttle me nt amounts)), inc luding
future le ase c ommitme nts, c osts to c lose or c onsolidate fac ilitie s and c osts to re loc ate e mploye e s, and

(b) any non-c ash ite ms de c re asing Consolidate d Ne t Inc ome (othe r than any suc h non-c ash ite m to
the e xte nt that it re pre se nts an ac c rual of or re se rve for c ash e xpe nditure s in any future pe riod), minus

(c ) all non-c ash ite ms inc re asing Consolidate d Ne t Inc ome for suc h pe riod (othe r than any suc h
non-c ash ite m to the e xte nt that it is e xpe c te d to re sult in the re c e ipt of c ash payme nts in any future pe riod), minus

(d) any c ash payme nts made during suc h pe riod in re spe c t of non-c ash c harg e s o r othe r ite ms
de sc ribe d above in this de nition subse que nt to the sc al quarte r in whic h the re le vant non-c ash c harg e s o r othe r
ite ms we re re fle c te d in Consolidate d Ne t Inc ome .

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 Notwithstanding the fore g oing , the provision for taxe s, de pre c iation, amortiz ation and non-c ash ite ms of
a Re stric te d Subsidiary shall be adde d to Consolidate d Ne t Inc ome to c ompute EBITDA only to the e xte nt (and in the
same proportion) that the ne t inc ome of suc h Re stric te d Subsidiary was inc lude d in c alc ulating Consolidate d Ne t Inc ome
and only if a c orre sponding amount would be pe rmitte d at the date of de te rmination to be divide nde d to the Company by
suc h Re stric te d Subsidiary without prior approval (that has not be e n obtaine d), pursuant to the te rms of its c harte r and all
ag re e me nts, instrume nts, judg me nts, de c re e s, orde rs, statute s, rule s and g ove rnme ntal re g ulations applic able to suc h
Re stric te d Subsidiary or its share holde rs.

“Euroclear” me ans Euroc le ar Bank, S.A./N.V., as ope rator of the Euro c le ar syste ms, and any
suc c e ssor the re to.

“Exchange Act” me ans the Se c uritie s Exc hang e Ac t of 1934, as ame nde d, and the rule s and re g ulations
of the Commission promulg ate d the re unde r.

“Fair Market Value ” me ans, with re spe c t to any Prope rty , the pric e that would re asonably be e xpe c te d
to be ne g otiate d in an arm’s-le ng th fre e marke t transac tion, for c ash, be twe e n a willing se lle r and a willing buye r, ne ithe r
of whom is unde r undue pre ssure o r c ompulsion to c omple te the transac tion. Fair Marke t Value shall be de te rmine d,
e xc e pt as othe rwise provide d ,

(a) if suc h Prope rty has a Fair Marke t Value e qual to or le ss than $50 .0 million, by any Offic e r of the
Company , or

(b) if suc h Prope rty has a Fair Marke t Value in e xc e ss of $50 .0 million, by a Board Re solution of the
Company .

“Foreign Subsidiary ” me ans any Subsidiary whic h is not org aniz e d unde r the laws of Canada o r any
provinc e the re of, or the U nite d State s of Ame ric a or any State the re of or the Distric t of Columbia.

“GAAP” me ans g e ne rally ac c e pte d ac c ounting princ iple s in Canada, c onsiste ntly applie d, whic h are in
e ffe c t from time to time , whic h as of the Issue Date are Inte rnational Financ ial Re porting Standards.

“Global Note Legend” me ans the le g e nd se t forth in Se c tion 2.0 6(f)(ii), whic h is re quire d to be plac e d on
all Global Note s issue d unde r this Inde nture .

“Global Notes” me ans one or more g lobal Note s re g iste re d in the name of the De positary or its nomine e
issue d in ac c ordanc e with Artic le 2 he re of substantially in the form of Exhibit A he re to and be aring the Global Note
Le g e nd and inc luding the “Sc he dule of Exc hang e s of Inte re sts in the Global Note ” attac he d the re to.

“Guarantee” me ans any oblig ation, c onting e nt o r othe rwise, of any P e rs o n dire c tly o r indire c tly
g uarante e ing any De bt of any othe r Pe rson and any oblig ation, dire c t or indire c t, c onting e nt or othe rwise , of suc h Pe rson
:

(a) to purc hase or pay (o r advanc e o r supply funds for the purc hase o r payme nt of) suc h De bt of
suc h othe r P e rs on (whe the r arising by virtue of partne rship arrang e me nts, o r by ag re e me nts to ke e p-we ll, to
purc hase se c uritie s or to maintain financ ial c ondition or othe rwise ), or

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 (b) e nte re d into for the purpose of assuring in any othe r manne r the oblig e e ag ainst loss in re spe c t
the re of (in whole or in part);

provided, however, that the te rm “Guarante e ” shall not inc lude :

(1) e ndorse me nts for c olle c tion or de posit in the ordinary c ourse of busine ss, or

(2) a c ontrac tual c ommitme nt by one P e rs on to inve st in anothe r P e rs on for so long as suc h
Inve stme nt is re asonably e xpe c te d to c onstitute a Pe rmitte d Inve stme nt unde r c lause (a) or (b) of the de finition of
“Pe rmitte d Inve stme nt.”

The te rm “Guarante e ” use d as a ve rb has a c orre sponding me aning .

“Guarantor” me ans any Pe rson Guarante e ing any oblig ation.

“Hedging Obligation” of any Pe rson me ans any oblig ation of suc h Pe rson pursuant to any Inte re st Rate
Ag re e me nt , Curre nc y Exc hang e Prote c tion Ag re e me nt , Commodity Pric e Prote c tion Ag re e me nt o r any othe r similar
ag re e me nt or arrang e me nt.

“Holder” me ans a Pe rson in whose name a Note is re g iste re d.

“Income Tax Act” me ans the Inc ome Tax Ac t (Canada).

“Incur” me ans, with re spe c t to any De bt o r othe r oblig ation of any Pe rson , to c re ate, issue, inc ur (by
me rg e r, c onve rsion, e xc hang e o r othe rwise ), e xte nd, assume, Guarante e o r be c ome liable in re spe c t of suc h De bt or
othe r oblig ation o r the re c ording , as re quire d pursuant to GAAP o r othe rwise, of any suc h De bt o r oblig ation on the
balanc e she e t of suc h P e rs on (and “Inc urre nc e ” and “Inc urre d” shall have me aning s c orre lative to the fore g oing );
provided , however, that a c hang e in GAAP that re sults in an oblig ation of suc h Pe rson that e xists at suc h time, and is not
the re tofore c lassi e d as De bt , be c oming De bt shall not be de e me d an Inc urre nc e of suc h De bt ; provided further,
however, that any De bt or othe r oblig ations of a Pe rson e xisting at the time suc h P e rson be c ome s a Subsidiary (whe the r
by me rg e r, c onsolidation, ac quisition o r othe rwise ) shall be de e me d to be Inc urre d by suc h Subsidiary at the time it
be c ome s a Subsidiary ; and provided further, however, that sole ly for purpose s of de te rmining c omplianc e with Se c tion
4.0 9 he re of, amortiz ation of de bt disc ount shall not be de e me d to be the Inc urre nc e of De bt , provided that in the c ase of
De bt sold at a disc ount, the amount of suc h De bt Inc urre d shall at all time s be the ag g re g ate princ ipal amount at its state d
maturity.

“Indenture” me ans this instrume nt, as orig inally e xe c ute d or as it may from time to time be supple me nte d
or ame nde d in ac c ordanc e with Artic le 9 he re of.

“Independent Financial Advisor” me ans an inve stme nt banking rm of national standing o r any third-
party appraise r of national standing in Canada or the U nite d State s, provided that suc h rm or appraise r is not an Affiliate
of the Company .

“Independent Investment Banker” me ans one of the Re fe re nc e Tre asury De ale rs appointe d by the
Company .

“Indirect Participant” me ans a P e rs o n who holds a be ne c ial inte re st in a Global Note throug h a
Partic ipant .

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 “Initial Notes” me ans U S$250 ,0 0 0 ,0 0 0 .0 0 ag g re g ate princ ipal amount of No te s issue d unde r this
Inde nture on the date he re of.

“Interest Payment Dates” shall have the me aning se t forth in parag raph 1 of the Note .

“Interest Rate Agreement” me ans, for any Pe rson , any inte re st rate swap ag re e me nt, inte re st rate
prote c tion ag re e me nt, inte re st rate future ag re e me nt, inte re st rate option ag re e me nt, inte re st rate c ap ag re e me nt,
inte re st rate c ollar ag re e me nt, inte re st rate he dg e ag re e me nt o r othe r similar ag re e me nt de sig ne d to prote c t ag ainst
fluc tuations in inte re st rate s.

“Investment” by any Pe rson me ans any dire c t o r indire c t loan (othe r than ac c ounts re c e ivable, trade
c re dit or othe r advanc e s to c ustome rs in the ordinary c ourse of busine ss that are re c orde d as ac c ounts re c e ivable on the
balanc e she e t of suc h Pe rson ), advanc e or othe r e xte nsion of c re dit or c apital c ontribution (by me ans of transfe rs of c ash
o r othe r P rope rty to othe rs o r payme nts for P rope rty o r se rvic e s for the ac c ount o r use of othe rs, o r othe rwise ) to, or
Inc urre nc e of a Guarante e of any oblig ation of, or purc hase or ac quisition of Capital Stoc k , bonds, note s, de be nture s or
othe r se c uritie s or e vide nc e of De bt issue d by, any othe r Pe rson . For purpose s of Se c tions 4.10 and 4.15 he re of and the
de nitions of “Re stric te d Payme nt” and “U nre stric te d Subsidiary,” the te rm “Inve stme nt” shall inc lude the portion
(proportionate to the Company ’s e quity inte re st in suc h Subsidiary) of the Fair Marke t Value of the ne t asse ts of any
Subsidiary of the Company at the time that suc h Subsidiary is de sig nate d an U nre stric te d Subsidiary ; provided , however,
that upon a re de sig nation of suc h Subsidiary as a Re stric te d Subsidiary , the Company shall be de e me d to c ontinue to
have a pe rmane nt “Inve stme nt” in an U nre stric te d Subsidiary of an amount (if positive ) e qual to:

(a) the Company ’s “Inve stme nt ” in suc h Subsidiary at the time of suc h re de sig nation, le ss

(b) the portion (proportionate to the Company ’s e quity inte re st in suc h Subsidiary) of the Fair
Marke t Value of the ne t asse ts of suc h Subsidiary at the time of suc h re de sig nation.

In de te rmining the amount of any Inve stme nt made by transfe r of any P rope rty othe r than c ash, suc h P rope rty shall be
value d at its Fair Marke t Value at the time of suc h Inve stme nt .

“Investment Grade Rating” me ans a rating e qual to or hig he r than Baa3 (or the e quivale nt) by Moody’s or
BBB- (or the e quivale nt) by S&P.

“Investment Grade Status” shall be de e me d to have be e n re ac he d on the date that the No te s have an
Inve stme nt Grade Rating from e ithe r of the Rating Ag e nc ie s .

“Issue Date” me ans May 19, 20 15.

“Legal Holiday” me ans a Saturday, a Sunday o r a day on whic h banking institutions in Ne w York City,
Montre al, the c ity in whic h the Corporate Trust Of c e of the Truste e is loc ate d, o r at a plac e of payme nt are authoriz e d
by law, re g ulation o r e xe c utive orde r to re main c lose d. If a payme nt date is a Le g al Holiday at a plac e of payme nt,
payme nt may be made at that plac e on the ne xt suc c e e ding day that is not a Le g al Holiday, and no inte re st shall ac c rue on
suc h payme nt for the inte rve ning pe riod.

“Lien” me ans, with re spe c t to any P rope rty of any Pe rson , any mortg ag e o r de e d of trust, ple dg e,
hypothe c ation, assig nme nt, se c urity inte re st, lie n, c harg e, e ase me nt (othe r than any e ase me nt not mate rially impairing
use fulne ss or marke tability), e nc umbranc e, pre fe re nc e, priority or othe r se c urity ag re e me nt o r pre fe re ntial arrang e me nt
of any kind or nature whatsoe ve r on or with re spe c t to suc h

-16-
Prope rty (inc luding any Capital Le ase Oblig ation , c onditional sale or othe r title re te ntion ag re e me nt having substantially
the same e c onomic e ffe c t as any of the fore g oing or any Sale and Le ase bac k Transac tion ).

“Moody’s” me ans Moody’s Inve stors Se rvic e, Inc . o r any suc c e ssor to the rating ag e nc y busine ss of
Moody’s Inve stors Se rvic e , Inc .

“Net Available Cash” from any Asse t Sale me ans c ash payme nts re c e ive d the re from ( inc luding any c ash
payme nts re c e ive d by way of de fe rre d payme nt of princ ipal pursuant to a note or installme nt re c e ivable o r othe rwise, but
only as and whe n re c e ive d, but e xc luding any othe r c onside ration re c e ive d in the form of assumption by the ac quiring
Pe rson of De bt or othe r oblig ations re lating to the Prope rty that is the subje c t of suc h Asse t Sale or re c e ive d in any othe r
non-c ash form), in e ac h c ase ne t of:

(a) all le g al, title, ac c ounting and re c ording tax e xpe nse s, c ommissions and othe r fe e s and e xpe nse s
inc urre d, and all fe de ral, state, provinc ial, fore ig n and loc al taxe s re quire d to be ac c rue d as a liability unde r
GAAP , as a c onse que nc e of suc h Asse t Sale ;

(b) all payme nts made on or in re spe c t of any De bt that is se c ure d by any P rope rty subje c t to suc h
Asse t Sale , in ac c ordanc e with the te rms of any Lie n upon suc h Prope rty , or whic h must by its te rms, o r in orde r
to obtain a ne c e ssary c onse nt to suc h Asse t Sale , or by applic able law, be re paid out of the proc e e ds from suc h
Asse t Sale ;

(c ) all distributions and othe r payme nts re quire d to be made to minority inte re st holde rs in
Subsidiarie s or joint ve nture s as a re sult of suc h Asse t Sale ;

(d) the de duc tion of appropriate amounts provide d by the se lle r as a re se rve, in ac c ordanc e with
GAAP , ag ainst any liabilitie s assoc iate d with the P rope rty dispose d in suc h Asse t Sale and re taine d by the
Company o r a ny Re stric te d Subsidiary afte r suc h Asse t Sale , inc luding pe nsion and othe r poste mployme nt
be ne t liabilitie s, liabilitie s re late d to e nvironme ntal matte rs and liabilitie s unde r any inde mni c ation oblig ations
assoc iate d with suc h Asse t Sale ; and

(e ) payme nts of unassume d liabilitie s (not c onstituting De bt ) re lating to the asse ts sold at the time
of, or within 30 days afte r, the date of suc h sale .

“Non-Recourse Debt” me ans De bt :

(a) as to whic h ne ithe r the Company nor any Re stric te d Subsidiary (i) provide s c re dit support of any
kind (inc luding any unde rtaking , ag re e me nt or instrume nt that would c onstitute De bt ), (ii) is dire c tly o r indire c tly
liable as a g uarantor or othe rwise , or (iii) c onstitute s the le nde r and

(b) no de fault with re spe c t to whic h (inc luding any rig hts that the holde rs the re of may have to take
e nforc e me nt ac tion ag ainst an U nre stric te d Subsidiary ) would pe rmit upon notic e, lapse of time o r both any
holde r of any De bt (othe r than the Note s ) of the Company o r any Re stric te d Subsidiary to de c lare a de fault on
suc h othe r De bt or c ause the payme nt the re of to be ac c e le rate d or payable prior to its state d maturity.

-17-
 “Obligations” me ans all oblig ations for princ ipal, pre mium, inte re st, pe naltie s, fe e s, inde mni c ations,
re imburse me nts, damag e s and othe r liabilitie s payable unde r the doc ume ntation g ove rning any De bt .

“Offering Memorandum” me ans the nal offe ring me morandum, date d May 11, 20 15, re lating to and
use d in c onne c tion with the offe ring of the Initial Note s .

“Officer” me ans the Chairman, Chie f Exe c utive Of c e r, the Pre side nt, the Chie f Financ ial Of c e r, the
Tre asure r, Se c re tary, Assistant Se c re tary or any Vic e Pre side nt of the Company , or , in the e ve nt that the Company has
no suc h of c e rs, a pe rson duly authoriz e d unde r applic able law by the manag e rs, me mbe rs o r a similar body to ac t on
be half of the Company . Offic e r of any Subsidiary Guarantor has a c orre lative me aning .

“Of cers’ Certi cate ” me ans a c e rti c ate sig ne d by two Of c e rs of the Company and de live re d to the
Truste e .

“Opinion of Counsel” me ans a writte n opinion from le g al c ounse l. The c ounse l may be an e mploye e of
or c ounse l to the Company .

“Participant” me ans, with re spe c t to the De positary , Euroc le ar o r Cle arstre am, a P e rs on who has an
ac c ount with the De positary , Euroc le ar o r Cle arstre am, re spe c tive ly, and, with re spe c t to The De pository Trust
Company, shall inc lude Euroc le ar and Cle arstre am.

“Permitted Asset Swap ” me ans, the c onc urre nt purc hase and sale o r e xc hang e of Re late d Busine ss
Asse ts o r a c ombination of Re late d Busine ss Asse ts and c ash, Te mporary Cash Inve stme nts o r De sig nate d Nonc ash
Conside ration be twe e n the Company o r any of the Re stric te d Subsidiarie s and anothe r Pe rson ; provided , that any c ash
or Te mporary Cash Inve stme nts re c e ive d shall, to the e xte nt re quire d, be applie d in ac c ordanc e with Se c tion 4.12 he re of.

“Permitted Holders” me ans (i) e ac h of Laure nt Le maire, Be rnard Le maire and Alain Le maire ; (ii) the
spouse, pare nts, sibling s, de sc e ndants ( inc luding c hildre n o r g randc hildre n by adoption) of any P e rs on re fe rre d to in
c lause (i) or of suc h spouse or sibling s; (iii) in the e ve nt of the inc ompe te nc e or de ath of any of the Pe rsons re fe rre d to in
c lause s (i) or (ii), suc h Pe rson ’s e state , e xe c utor, administrator, c ommitte e or othe r pe rsonal re pre se ntative in e ac h c ase
who at any partic ular date shall be ne c ially own o r have the rig ht to ac quire, dire c tly o r indire c tly, Voting Stoc k of the
Company ; (iv) any trusts o r foundations c re ate d for the sole be ne t of any of the P e rs ons re fe rre d to in c lause s (i)
throug h (iii) o r any trust o r foundation for the be ne t of suc h trust o r foundation; o r (v) any P e rson of whic h any of the
P e rs o ns re fe rre d to in c lause s (i) throug h (iv) “be ne c ially owns” (as de ne d in Rule s 13d-3 and 13d-5 unde r the
Exc hang e Ac t ) on a fully dilute d basis all the Voting Stoc k of suc h P e rson o r is the sole truste e o r g e ne ral partne r, or
othe rwise has the sole powe r to manag e the busine ss and affairs of suc h Pe rson .

“Permitted Investment” me ans any Inve stme nt by the Company or a Re stric te d Subsidiary in:

(a) any Inve stme nt e xisting on the Issue Date , inc luding any Inve stme nt of any Subsidiary o r joint
ve nture at the time suc h Subsidiary o r joint ve nture be c ame a Subsidiary o r joint ve nture and Inve stme nts to be
made pursuant to binding c ommitme nts in e ffe c t on the Issue Date ;

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 (b) the Company o r any Re stric te d Subsidiary o r any P e rson that will, upon the making of suc h
Inve stme nt , be c ome a Re stric te d Subsidiary ;

(c ) any P e rson if as a re sult of o r in c onne c tion with suc h Inve stme nt s uc h P e rson (i) be c ome s a
Re stric te d Subsidiary that is a Subsidiary Guarantor or (ii) is me rg e d or c onsolidate d with o r into, o r transfe rs or
c onve ys all o r substantially all its P ro pe rty to, the Co mpany o r a Re stric te d Subsidiary that is a Subsidiary
Guarantor ;

(d) c ash and Te mporary Cash Inve stme nts ;

(e ) re c e ivable s o r advanc e s owing to the Company o r a Re stric te d Subsidiary , if c re ate d or

ac quire d in the ordinary c ourse of busine ss and payable o r disc harg e able in ac c ordanc e with c ustomary trade
te rms; provided , however, that suc h trade te rms may inc lude suc h c onc e ssionary trade te rms as the Company or
suc h Re stric te d Subsidiary de e ms re asonable unde r the c irc umstanc e s;

(f) payroll, trave l and similar advanc e s to c ove r matte rs that are e xpe c te d at the time of suc h
advanc e s ultimate ly to be tre ate d as e xpe nse s for ac c ounting purpose s and that are made in the ordinary c ourse
of busine ss;

(g ) loans and advanc e s to e mploye e s made in the ordinary c ourse of busine ss of the Company or
s uc h Re stric te d Subsidiary , as the c ase may be, provided that suc h loans and advanc e s do not e xc e e d $10 .0
million at any one time outstanding ;

(h) stoc k, oblig ations o r othe r se c uritie s re c e ive d in se ttle me nt of de bts c re ate d in the ordinary
c ourse of busine ss and owing to the Company or a Re stric te d Subsidiary or in satisfac tion of judg me nts, inc luding
as the re sult of any plan of re org aniz ation o r similar arrang e me nt upon the bankruptc y o r insolve nc y of a trade
c re ditor or c ustome r;

(i) any Pe rson to the e xte nt suc h Inve stme nt re pre se nts the non-c ash portion of the c onside ration
re c e ive d in c onne c tion with an Asse t Sale c onsummate d in c omplianc e with Se c tion 4.12 he re of o r a transac tion
not c onstituting an Asse t Sale by re ason of the thre sholds c ontaine d in c lause (4) of the se c ond parag raph of the
de finition of “Asse t Sale ”;

(j) a le ase , utility and othe r similar de posits in the ordinary c ourse of busine ss;

(k) any asse ts or Capital Stoc k of any Pe rson made out of the ne t c ash proc e e ds of the substantially
c onc urre nt sale of Capital Stoc k of the Company (othe r than Disquali e d Stoc k ) o r the c onside ration for whic h
c onsists sole ly of Capital Stoc k (othe r than Disquali e d Stoc k) of the Company ; provided that the issuanc e of
s uc h Capital Stoc k shall be inc lude d in the c alc ulation se t forth in 4.10 (a)(iii)(B) he re o f at any one time
outstanding ;

( l) He dg ing Oblig ations e nte re d into for bona de he dg ing purpose s and not for spe c ulation and
othe rwise pe rmitte d by this Inde nture ;

(m) any asse ts ac quire d as a re sult of a fore c losure by the Company o r s uc h Re stric te d Subsidiary
with re spe c t to any se c ure d Pe rmitte d Inve stme nt or othe r transfe r of title with re spe c t to any se c ure d Pe rmitte d
Inve stme nt in de fault;

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 (n) purc hase s and ac quisitions of inve ntory, supplie s, mate rials and e quipme nt or lic e nse s o r le ase s
o r inte lle c tual prope rty, in any c ase, in the ordinary c ourse of busine ss and othe rwise in ac c ordanc e with this
Inde nture ;

(o) Inve stme nts c onsisting of Guarante e s pe rmitte d pursuant to Se c tion 4.0 9 he re of;

(p) Inve stme nts in Pe rmitte d Joint Ve nture s; provided that the ag g re g ate amount of suc h
Inve stme nts made pursuant to this c lause (p) shall not e xc e e d at any time outstanding the g re ate r of $40 0 .0
million or 10 % of Consolidate d Ne t Tang ible Asse ts ; and

(q) othe r Inve stme nts made for Fair Marke t Value that do not e xc e e d $10 0 .0 million in the
ag g re g ate outstanding at any one time .

“Permitted Joint Venture ” me ans any P e rson whic h is, dire c tly o r indire c tly, throug h its Subsidiarie s or
othe rwise, e ng ag e d princ ipally in a Re late d Busine ss , and the Capital Stoc k of whic h is owne d (for the avoidanc e of
doubt, at the time an Inve stme nt is made ) by (x) the Company or its Re stric te d Subsidiarie s , on the one hand, and (y) one
or more Pe rsons othe r than the Company or any Affiliate of the Company , on the othe r hand, provided that suc h Pe rsons
in the ag g re g ate owns at le ast 20 % of suc h Capital Stoc k .

“Permitted Liens” me ans:

(a) Lie ns in favor of the Company or any Re stric te d Subsidiary ;

(b) Lie ns to se c ure De bt pe rmitte d to be Inc urre d unde r c lause (ii) of Se c tion 4.0 9(b) he re of;

( c ) Lie ns to se c ure De bt pe rmitte d to be Inc urre d unde r c lause (iii) of Se c tion 4.0 9(b) he re of;
provided that any suc h Lie n may not e xte nd to any Prope rty of the Company or any Re stric te d Subsidiary , othe r
than the Prope rty subje c t to suc h transac tion or ac quire d, c onstruc te d, improve d o r le ase d with the proc e e ds of
suc h De bt and any improve me nts or ac c e ssions to suc h Prope rty ;

(d) Lie ns for taxe s, asse ssme nts or g ove rnme ntal c harg e s or le vie s on the Prope rty of the Company
or any Re stric te d Subsidiary if the same shall not at the time be more than 60 days past due o r the re afte r c an be
paid without pe nalty, or are be ing c onte ste d in g ood faith and by appropriate proc e e ding s promptly institute d and
dilig e ntly c onc lude d, provided that any re se rve or othe r appropriate provision that shall be re quire d in c onformity
with GAAP shall have be e n made the re for;

(e ) Lie ns impose d by law, suc h as c arrie rs’, ware house me n’s, me c hanic s’, landlords’, ve ndors’ or
Lie ns and othe r similar Lie ns , on the P ro pe rty of the Co mpany o r a ny Re stric te d Subsidiary arising in the
ordinary c ourse of busine ss and se c uring payme nt of oblig ations that are not more than 60 days past due o r are
be ing c onte ste d in g ood faith and by appropriate proc e e ding s;

( f) Lie ns in favor of c ustoms and re ve nue authoritie s arising in the ordinary c ourse of busine ss and
as a matte r of law to se c ure payme nt of c ustoms dutie s;

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 (g ) Lie ns arising as a re sult of litig ation o r le g al proc e e ding s that are c urre ntly be ing c onte ste d in
g ood faith by appropriate and dilig e nt ac tion, inc luding a ny Lie n arising as a re sult of any judg me nt re nde re d
ag ainst the Company or its Subsidiarie s ;

(h) Lie ns g rante d in c onne c tion with a Qualifie d Re c e ivable s Transac tion ;

( i ) Lie ns on the P rope rty of the Company o r any Re stric te d Subsidiary Inc urre d in the ordinary
c ourse of busine ss to se c ure pe rformanc e of oblig ations with re spe c t to statutory o r re g ulatory re quire me nts,
pe rformanc e o r re turn-of-mone y bonds, sure ty bonds o r othe r oblig ations of a like nature and Inc urre d in a
manne r c onsiste nt with industry prac tic e, in e ac h c ase whic h are not Inc urre d in c onne c tion with the borrowing of
mone y, the obtaining of advanc e s or c re dit or the payme nt of the de fe rre d purc hase pric e of P rope rty and whic h
do not in the ag g re g ate impair in any mate rial re spe c t the use of Prope rty in the ope ration of the busine ss of the
Company and the Re stric te d Subsidiarie s take n as a whole ;

( j) Lie ns on Prope rty (tog e the r with g e ne ral intang ible s and proc e e ds re lating to suc h prope rty) at
the time the Company or any Re stric te d Subsidiary ac quire d suc h Prope rty , inc luding any ac quisition by me ans
of a me rg e r or c onsolidation with or into the Company or any Re stric te d Subsidiary ; provided , however, that any
suc h Lie n may not e xte nd to any othe r Prope rty of the Company o r any Re stric te d Subsidiary ; provided further,
however, that suc h Lie ns shall not have be e n Inc urre d in antic ipation of o r in c onne c tion with the transac tion or
se rie s of transac tions pursuant to whic h suc h P ro pe rty was ac quire d by the Co mpany o r a n y Re stric te d
Subsidiary ;

( k) Lie ns on the Prope rty or share s of Capital Stoc k of a Pe rson at the time suc h P e rson be c ome s a
Re stric te d Subsidiary or is me rg e d into or c onsolidate d with the Company o r a Re stric te d Subsidiary ; provided ,
however, that any suc h Lie n may not e xte nd to any othe r P rope rty of the Company o r any othe r Re stric te d
Subsidiary that is not a dire c t Subsidiary of suc h Pe rson ; provided further, however, that any suc h Lie n was not
Inc urre d in antic ipation of o r in c onne c tion with the transac tion o r se rie s of transac tions pursuant to whic h suc h
Pe rson be c ame a Re stric te d Subsidiary ;

(l) ple dg e s or de posits by the Company or any Re stric te d Subsidiary unde r worke rs’ c ompe nsation
laws, une mployme nt insuranc e laws or similar le g islation, or g ood faith de posits in c onne c tion with bids, te nde rs,
c ontrac ts (othe r than for the payme nt of De bt ) o r le ase s to whic h the Company o r any Re stric te d Subsidiary is
party, or de posits to se c ure public or statutory oblig ations of the Company , o r de posits for the payme nt of re nt,
in e ac h c ase Inc urre d in the ordinary c ourse of busine ss;

(m) utility e ase me nts, building re stric tions, rig hts-of-ways, irre g ularitie s of title and suc h othe r
e nc umbranc e s or c harg e s ag ainst re al Prope rty as are of a nature g e ne rally e xisting with re spe c t to prope rtie s of
a similar c harac te r;

( n) Lie ns to se c ure He dg ing Oblig ations made in the ordinary c ourse of busine ss and not for the
purpose of spe c ulation to the e xte nt othe rwise pe rmitte d by this Inde nture ;

(o) Lie ns e xisting on the Issue Date not othe rwise de sc ribe d in c lause s (a) throug h (n) above ;

(p) Lie ns g rante d to se c ure the Note s pursuant to Se c tion 4.11 he re of;

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 (q) le ase s, lic e nse s, suble ase s and sublic e nse s of asse ts ( inc luding without limitation, re al prope rty
and inte lle c tual prope rty rig hts) in the ordinary c ourse of busine ss and whic h do not mate rially inte rfe re with the
ordinary c onduc t of the busine ss of the Company or any of its Re stric te d Subsidiarie s ;

(r) Lie ns on the Prope rty of the Company or any Re stric te d Subsidiary to se c ure any Re nanc ing ,
in whole or in part, of any De bt se c ure d by Lie ns re fe rre d to in c lause (c ), (j), (k) or (o) above ; provided , however,
that any suc h Lie n shall be limite d to all or part of the same Prope rty that se c ure d the orig inal Lie n (tog e the r with
improve me nts and ac c e ssions to suc h Prope rty ) and the ag g re g ate princ ipal amount of De bt that is se c ure d by
suc h Lie n shall not be inc re ase d to an amount g re ate r than the sum of:

(1) the outstanding princ ipal amount, or , if g re ate r, the c ommitte d amount, of the De bt
se c ure d by Lie ns de sc ribe d unde r c lause (c ), (j), (k) o r (o) above, as the c ase may be, at the time the
orig inal Lie n be c ame a Pe rmitte d Lie n unde r this Inde nture , and

(2) an amount ne c e ssary to pay any fe e s and e xpe nse s, inc luding pre miums and de fe asanc e
c osts, inc urre d by the Company or suc h Re stric te d Subsidiary in c onne c tion with suc h Re financ ing ; and

(s) Lie ns not othe rwise pe rmitte d by c lause s (a) throug h (r) above e nc umbe ring Prope rty having an
ag g re g ate Fair Marke t Value not in e xc e ss of the g re ate r of (i) $150 .0 million o r (ii) 7.5% of Consolidate d Ne t
Tang ible Asse ts .

“Permitted Refinancing Debt” me ans any De bt that Re financ e s any othe r De bt , inc luding any suc c e ssive
Re financ ing s, so long as:

(a) suc h De bt is in an ag g re g ate princ ipal amount (o r if Inc urre d with orig inal issue disc ount, an
ag g re g ate issue pric e ) not in e xc e ss of the sum of:

(1) the ag g re g ate princ ipal amount (or if Inc urre d with orig inal issue disc ount, the ag g re g ate
ac c re te d value ) the n outstanding of the De bt be ing Re financ e d, and

(2) an amount ne c e ssary to pay any fe e s and e xpe nse s, inc luding pre miums and de fe asanc e
c osts, re late d to suc h Re financ ing ,

(b) the Ave rag e Life of suc h De bt is e qual to o r g re ate r than the Ave rag e Life of the De bt be ing
Re financ e d,

(c ) the State d Maturity of suc h De bt is no e arlie r than the State d Maturity of the D e bt be ing
Re financ e d, and

(d) suc h De bt shall not be se nior in rig ht of payme nt to the De bt that is be ing Re financ e d,

provided, however, that Pe rmitte d Re financ ing De bt shall not inc lude :

(x) De bt of a Subsidiary that is not a Subsidiary Guarantor that Re nanc e s De bt of the Company or
a Subsidiary Guarantor, or

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 (y) De bt of the Company or a Re stric te d Subsidiary that Re nanc e s De bt of an U nre stric te d
Subsidiary.

“Person” me ans any individual, c orporation, c ompany ( inc luding any limite d liability c ompany),
assoc iation, partne rship, joint ve nture, trust, uninc orporate d org aniz ation, g ove rnme nt o r any ag e nc y o r politic al
subdivision the re of or any othe r e ntity.

“Predecessor Note” of any partic ular Note me ans e ve ry pre vious Note e vide nc ing all o r a portion of the
s ame De bt as that e vide nc e d by suc h partic ular Note ; provided that no suc h Pre de c e ssor Note shall be de e me d to be
outstanding at the same time as suc h partic ular Note .

“Preferred Stock” of any Pe rson me ans any Capital Stoc k of suc h Pe rson , howe ve r de sig nate d, whic h
e ntitle s the holde r the re of to a pre fe re nc e with re spe c t to the payme nt of divide nds, or as to the distribution of asse ts upon
any voluntary o r involuntary liquidation o r dissolution of suc h Pe rson , ove r share s of any othe r c lass of Capital Stoc k
issue d by suc h Pe rson .

“Preferred Stock Dividends” me ans all divide nds with re spe c t to Pre fe rre d Stoc k o f Re stric te d
Subsidiarie s he ld by Pe rsons othe r than the Company or a Re stric te d Subsidiary . The amount of any suc h divide nd shall
be e qual to the quotie nt of suc h divide nd divide d by the diffe re nc e be twe e n one and the maximum statutory fe de ral inc ome
rate (e xpre sse d as a de c imal numbe r be twe e n 1 and 0 ) the n applic able to the issue r of suc h Pre fe rre d Stoc k .

“Private Placement Legend” me ans the le g e nd se t forth in Se c tion 2.0 6(f)(i) he re of to be plac e d on all
Note s issue d unde r this Inde nture e xc e pt as othe rwise pe rmitte d by the provisions of this Inde nture .

“pro forma” me ans, with re spe c t to any c alc ulation made o r re quire d to be made pursuant to the te rms
he re of, (1) a c alc ulation pe rforme d in ac c ordanc e with Artic le 11 of Re g ulation S-X promulg ate d unde r the Se c uritie s Ac t
, as inte rpre te d in g ood faith by the Board of Dire c tors of the Company afte r c onsultation with the inde pe nde nt c e rti e d
public ac c ountants of the Company , o r (2) othe rwise a c alc ulation made in g ood faith by the Board of Dire c tors of the
Company afte r c onsultation with the inde pe nde nt c e rtifie d public ac c ountants of the Company , as the c ase may be, whic h,
in the e ve nt any ac quisition o r disposition of asse ts outside of the ordinary c ourse of busine ss is to be g ive npro forma
e ffe c t, may re e c t e xpe nse and c ost re duc tions assoc iate d with any suc h ac quisition o r disposition that are re asonably
ide nti able, fac tually supportable and quanti able and base d on ac tions alre ady take n o r e xpe c te d to be take n within 12
months and for whic h the full run-rate e ffe c t of suc h ac tions is e xpe c te d to be re aliz e d within 12 months of suc h ac tion.

“Property” me ans, with re spe c t to any Pe rson , any inte re st of suc h P e rson in any kind of prope rty or
asse t, whe the r re al, pe rsonal o r mixe d, o r tang ible o r intang ible, inc luding Capital Stoc k in, and othe r se c uritie s of, any
othe r Pe rson . For purpose s of any c alc ulation re quire d pursuant to this Inde nture , the value of any Prope rty shall be its
Fair Marke t Value .

“Purchase Money Debt” me ans De bt :

(a) c onsisting of the de fe rre d purc hase pric e of Prope rty , c onditional sale oblig ations, oblig ations
unde r any title re te ntion ag re e me nt, othe r purc hase mone y oblig ations and oblig ations in re spe c t of industrial
re ve nue bonds, in e ac h c ase whe re the maturity of suc h De bt doe s not e xc e e d the antic ipate d use ful life of the
Prope rty be ing financ e d, and

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 ( b) Inc urre d to nanc e the ac quisition, c onstruc tion, improve me nt o r le ase by the Company o r a
Re stric te d Subsidiary of suc h Prope rty , inc luding additions and improve me nts the re to (whe the r throug h the
dire c t purc hase of asse ts o r throug h the ac quisition of at le ast a majority of the Voting Stoc k of any Pe rson
owning suc h asse ts);

provided, however, that suc h De bt is Inc urre d within 180 days afte r the ac quisition, c onstruc tion or le ase of suc h Prope rty
by the Company or suc h Re stric te d Subsidiary .

“QIB” me ans a “qualifie d institutional buye r” as de fine d in Rule 144A.

“Quali ed Equity Issuance ” me ans a public o r private issuanc e of c ommon stoc k by the Company of at
le ast $50 .0 million to Pe rsons who are not Subsidiarie s of the Company .

“Quali ed Receivables Transaction ” me ans any transac tion or se rie s of transac tions, inc luding fac toring
arrang e me nts, that may be e nte re d into by the Company o r any Re stric te d Subsidiary in c onne c tion with o r re asonably
re late d to a transac tion or se rie s of transac tions in whic h the Company o r any Re stric te d Subsidiary may se ll, c onve y or
othe rwise transfe r to (1) a Spe c ial Purpose Ve hic le o r (2) any othe r Pe rson , o r may g rant a se c urity inte re st in, any
e quipme nt and re late d asse ts (inc luding c ontrac t rig hts) o r Re c e ivable s o r inte re sts the re in whic h may be se c ure d by
g oods or se rvic e s nanc e d the re by (whe the r suc h Re c e ivable s are the n e xisting o r arising in the future ) of the Company
o r a ny Re stric te d Subsidiary , and any asse ts re lating the re to inc luding , without limitation, all se c urity o r owne rship
inte re sts in g oods o r se rvic e s nanc e d the re by, the proc e e ds of suc h Re c e ivable s , and othe r asse ts whic h are
c ustomarily sold o r in re spe c t of whic h se c urity inte re sts are c ustomarily g rante d in c onne c tion with se c uritiz ation
transac tions involving suc h asse ts, as any ag re e me nt g ove rning any suc h transac tions may be re ne we d, re nanc e d,
ame nde d, re state d or modifie d from time to time .

“Rating Agencies” me ans Moody’s and S&P.

“Receivables” me ans any rig ht of payme nt from o r on be half of any oblig or, whe the r c onstituting an
ac c ount, c hatte l pape r, instrume nt, g e ne ral intang ible o r othe rwise, arising from the nanc ing by the Company o r any
Re stric te d Subsidiary of g oods or se rvic e s, and monie s due the re unde r, se c urity or owne rship inte re sts in the g oods and
se rvic e s nanc e d the re by, re c ords re lating the re to, and the rig ht to payme nt of any inte re st or nanc e c harg e s and othe r
oblig ations with re spe c t the re to, proc e e ds from c laims on insuranc e polic ie s re late d the re to, any othe r proc e e ds re late d
the re to, and othe r re late d rig hts.

“Reference Treasury Dealer” me ans a primary U .S. Gove rnme nt se c uritie s de ale r in Ne w York City.

“Reference Treasury Dealer Quotations” me ans, with re spe c t to e ac h Re fe re nc e Tre asury De ale r and any
re de mption date, the ave rag e, as de te rmine d by the Company , of the bid and aske d pric e s for the Comparable Tre asury
Is s ue (e xpre sse d in e ac h c ase as a pe rc e ntag e of its princ ipal amount) quote d in writing to the Co mpany by suc h
Re fe re nc e Tre asury De ale r at 5:0 0 p.m. on the third busine ss day pre c e ding suc h re de mption date .

“Refinance” me ans, in re spe c t of any De bt , to re nanc e, e xte nd, re ne w, re fund, re pay, pre pay,
re purc hase, re de e m, de fe ase o r re tire, o r to issue othe r De bt , in e xc hang e o r re plac e me nt for, suc h De bt
. “Re financ e d” and “Re financ ing ” shall have c orre lative me aning s.

“Regular Record Date ” for the inte re st payable on any Inte re st Payme nt Date me ans the date spe c i e d
on the fac e of the Note .

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 “Regulation S” me ans Re g ulation S promulg ate d unde r the Se c uritie s Ac t .

“Regulation S Global Note” me ans the Global Note substantially in the form of Exhibit A he re to be aring
th e Global Note Le g e nd and the Private Plac e me nt Le g e nd and de posite d with and re g iste re d in the name of the
De positary o r its nomine e that will be issue d in a de nomination e qual to the outstanding princ ipal amount of the Note s
initially sold in re lianc e on Rule 90 3 of Re g ulation S.

“Related Business” me ans any busine ss that is re late d, anc illary o r c omple me ntary to the busine sse s of
the Company and the Re stric te d Subsidiarie s on the Issue Date .

“Related Business Assets” me ans asse ts (othe r than c ash or Te mporary Cash Inve stme nts ) use d or use ful
in a Re late d Busine ss ; provided that any asse ts re c e ive d by the Company o r a Re stric te d Subsidiary in e xc hang e for
asse ts transfe rre d by the Company o r a Re stric te d Subsidiary shall not be de e me d to be Re late d Busine ss Asse ts if the y
c onsist of se c uritie s of a Pe rson , unle ss upon re c e ipt of the se c uritie s of suc h Pe rson , suc h P e rs on would be c ome a
Re stric te d Subsidiary .

“Repay” me ans, in re spe c t of any De bt , to re pay, pre pay, re purc hase, re de e m, le g ally de fe ase or
othe rwise re tire suc h De bt . “Re payme nt” and “Re paid” shall have c orre lative me aning s. For purpose s of Se c tion 4.12
and the de finition of “Consolidate d Inte re st Cove rag e Ratio ,” De bt c onstituting re volving c re dit De bt shall be c onside re d
to have be e n Re paid only to the e xte nt the re late d loan c ommitme nt, if any, shall have be e n pe rmane ntly re duc e d in
c onne c tion the re with.

“Responsible Officer,” shall me an, whe n use d with re spe c t to the Truste e , any offic e r within the c orporate
trust de partme nt of the Truste e who shall have dire c t re sponsibility for the administration of this Inde nture , o r to whom
any c orporate trust matte r is re fe rre d be c ause of suc h pe rson’s knowle dg e of and familiarity with the partic ular subje c t.

“Restricted Definitive Note” me ans one or more De finitive Note s be aring the Private Plac e me nt Le g e nd .

“Restricted Global Notes” me ans one or more 144A Global Note and Re g ulation S Global Note s and any
othe r Global Note s be aring the Private Plac e me nt Le g e nd .

“Restricted Payment” me ans:

(a) any divide nd o r distribution (whe the r made in c ash, se c uritie s o r othe r Prope rty ) de c lare d or
paid on or with re spe c t to any share s of Capital Stoc k of the Company or any Re stric te d Subsidiary (inc luding any
payme nt in c onne c tion with any me rg e r or c onsolidation with or into the Company or any Re stric te d Subsidiary ),
e xc e pt for any divide nd o r distribution that is made sole ly to the Company o r a Re stric te d Subsidiary o r any
divide nd or distribution payable sole ly in share s of Capital Stoc k (othe r than Disquali e d Stoc k) of the Company ,
and e xc e pt for pro rata divide nds or othe r distributions made by a Subsidiary that is not a wholly owne d subsidiary
to minority stoc kholde rs;

(b) the purc hase, re purc hase, re de mption, ac quisition or re tire me nt for value of any Capital Stoc k of
the Company o r a ny Re stric te d Subsidiary (othe r than from the Company o r a Re stric te d Subsidiary ) o r any
se c uritie s e xc hang e able for o r c onve rtible into any suc h Capital Stoc k , inc luding the e xe rc ise of any option to
e xc hang e any Capital Stoc k (othe r than for or into Capital Stoc k of the Company that is not Disqualifie d Stoc k );

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 (c ) the purc hase, re purc hase, re de mption, ac quisition or re tire me nt for value, prior to the date for
any sc he dule d maturity, sinking fund o r amortiz ation o r othe r installme nt payme nt, of any Subordinate d
O blig atio n (othe r than (x) the purc hase, re purc hase o r othe r ac quisition of any Subordinate d Oblig ation
purc hase d in antic ipation of satisfying a sc he dule d maturity, sinking fund o r amortiz ation o r othe r installme nt
oblig ation, in e ac h c ase due within one ye ar of the date of ac quisition or (y) De bt pe rmitte d to be Inc urre d unde r
Se c tion 4.0 9(b)(iv); or

(d) any Inve stme nt (othe r than Pe rmitte d Inve stme nts) in any Pe rson .

“Restricted Subsidiary” me ans any Subsidiary of the Company othe r than an U nre stric te d Subsidiary .

“Rule 144” me ans Rule 144 promulg ate d unde r the Se c uritie s Ac t .

“Rule 144A” me ans Rule 144A promulg ate d unde r the Se c uritie s Ac t .

“Rule 903” me ans Rule 90 3 promulg ate d unde r the Se c uritie s Ac t .

“Rule 904” me ans Rule 90 4 promulg ate d unde r the Se c uritie s Ac t .

“S&P” me ans Standard & Poor’s Rating s Se rvic e s, a division of the Mc Graw-Hill Companie s, Inc ., or
any suc c e ssor to the rating ag e nc y busine ss of Standard & Poor’s Rating s Se rvic e s.

“Sale and Leaseback Transaction” me ans any dire c t o r indire c t arrang e me nt re lating to P rope rty now
owne d or he re afte r ac quire d whe re by the Company or a Re stric te d Subsidiary transfe rs suc h P rope rty to anothe r Pe rson
and the Company or a Re stric te d Subsidiary le ase s it from suc h Pe rson .

“Securities Act” me ans the Se c uritie s Ac t of 1933, as ame nde d, and the rule s and re g ulations of the
Commission promulg ate d the re unde r.

“Signi cant Subsidiary ” me ans any Subsidiary that would be a “sig ni c ant subsidiary” of the Company
within the me aning of Rule 1-0 2(w) unde r Re g ulation S-X promulg ate d by the Commission .

“Special Purpose Vehicle ” me ans a bankruptc y-re mote e ntity o r trus t o r othe r spe c ial purpose e ntity
whic h is forme d by the Company , any Subsidiary of the Company or any othe r Pe rson for the purpose of, and e ng ag e s in
no mate rial busine ss othe r than in c onne c tion with a Quali e d Re c e ivable s Transac tion o r othe r similar transac tions of
Re c e ivable s , inc luding fac toring arrang e me nts, or othe r similar or re late d asse ts.

“Stated Maturity” me ans, with re spe c t to any se c urity, the date spe c ifie d in suc h se c urity as the fixe d date
on whic h the payme nt of princ ipal of suc h se c urity is due and payable, inc luding pursuant to any mandatory re de mption
provision (but e xc luding any provision providing for the re purc hase of suc h se c urity at the option of the holde r the re of
upon the happe ning of any c onting e nc y be yond the c ontrol of the issue r unle ss suc h c onting e nc y has oc c urre d).

“Subordinated Obligation ” me ans any D e bt of the Co mpany o r a ny Subsidiary Guarantor (whe the r
outstanding on the Issue Date or the re afte r Inc urre d) that is subordinate or junior in rig ht of payme nt to the Note s o r the
applic able Subsidiary Guarante e pursuant to a writte n ag re e me nt to that e ffe c t.

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 “Subsidiary” me ans, in re spe c t of any Pe rson , any c orporation, c ompany ( inc luding any limite d liability
c ompany), assoc iation, partne rship, joint ve nture or othe r busine ss e ntity of whic h a majority of the total voting powe r of
th e Voting Stoc k o r othe r inte re sts (inc luding partne rship inte re sts) is at the time owne d o r c ontrolle d, dire c tly or
indire c tly, by:

(a) suc h Pe rson ,

(b) suc h Pe rson and one or more Subsidiarie s of suc h Pe rson , or

(c ) one or more Subsidiarie s of suc h Pe rson .

“Subsidiary Guarantee” me ans the Guarante e of the N o te s by e ac h of the Subsidiary Guarantors

pursuant to Artic le 1 0 he re of and any additional Guarante e of the No te s to be de live re d pursuant to a supple me ntal
inde nture by any Subsidiary of the Company pursuant to Se c tion 4.17 he re of.

“Subsidiary Guarantor” me ans e ac h Canadian and U.S. Re stric te d Subsidiary in e xiste nc e on the Issue
Date and any othe r P e rs on that be c ome s a Subsidiary Guarantor pursuant to Se c tion 4.17 he re o f o r who othe rwise
e xe c ute s and de live rs a supple me ntal inde nture substantially in the form of Exhibit D he re to to the Truste e providing for a
Subsidiary Guarante e .

“Surviving Person ” me ans the surviving P e rs o n forme d by a me rg e r, c onsolidation, liquidation,

dissolution, winding -up or amalg amation and, for purpose s of Se c tion 5.0 1 he re of, a P e rson to whom all o r substantially
all of the P ro pe rty of the Co mpany o r a Subsidiary Guarantor is sold, transfe rre d, assig ne d, le ase d, c onve ye d or
othe rwise dispose d.

“Temporary Cash Investments” me ans:

(a) Inve stme nts in U.S. and Canadian Gove rnme nt Oblig ations, in e ac h c ase maturing within 365
days of the date of ac quisition the re of;

( b ) Inve stme nts in time de posit ac c ounts, c e rti c ate s of de posit and mone y marke t de posits
maturing within one ye ar of the date of ac quisition the re of issue do r g uarante e d by a bank o r trust c ompany
org aniz e d unde r the laws of the U nite d State s of Ame ric a o r Canada o r any state o r provinc e, as the c ase may
be , or the Distric t of Columbia or any U .S. or Canadian branc h of a fore ig n bank having , at the date of ac quisition
the re of, c ombine d c apital, surplus and undivide d pro ts ag g re g ating in e xc e ss of U S$250 .0 million and whose
long -te rm de bt is rate d “A-3” or “A-” or hig he r ac c ording to Moody’s or S&P (o r suc h similar e quivale nt rating
by at le ast one “nationally re c og niz e d statistic al rating org aniz ation” (within the me aning of Rule 15c 3-1(c )(2)
(vi)(F) unde r the Exc hang e Ac t ));

(c ) re purc hase oblig ations with a te rm of not more than 30 days for unde rlying se c uritie s of the type s
de sc ribe d in c lause (a) e nte re d into with:

(1) a bank me e ting the qualific ations de sc ribe d in c lause (b) above , or

(2) any primary g ove rnme nt se c uritie s de ale r re porting to the Marke t Re ports Division of
the Fe de ral Re se rve Bank of Ne w York;

( d) Inve stme nts in c omme rc ial pape r, maturing not more than one ye ar afte r the date of ac quisition,
issue d by a c orporation (othe r than an Affiliate of the Company ) org aniz e d and in e xiste nc e unde r the laws of the
U nite d State s of Ame ric a with a rating at the time as of whic h any

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 Inve stme nt the re in is made of “P-1” (o r hig he r) ac c ording to Moody’s o r “A-1” ( o r hig he r) ac c ording to S&P
(or suc h similar e quivale nt rating by at le ast one “nationally re c og niz e d statistic al rating org aniz ation” (within the
me aning of Rule 15c 3-1(c )(2)(vi)(F) unde r the Exc hang e Ac t ) ) or , with re spe c t to c omme rc ial pape r issue d in
Canada by a c orporation (othe r than an Affiliate of the Company ) org aniz e d and in e xiste nc e unde r the laws of
Canada, having a rating at the time as of whic h any Inve stme nt the re in is made of “R-1” (or hig he r) ac c ording to
Dominion Bond Rating Se rvic e Limite d;

(e ) dire c t oblig ations (or c e rti c ate s re pre se nting an owne rship inte re st in suc h oblig ations) of any
state of the U nite d State s of Ame ric a, any provinc e of Canada or any fore ig n c ountry re c og niz e d by the U nite d
State s o r any politic al subdivision of any suc h state, provinc e o r fore ig n c ountry, as the c ase may be ( inc luding
any ag e nc y or instrume ntality the re of), for the payme nt of whic h the full faith and c re dit of suc h state is ple dg e d
and whic h are not c allable or re de e mable at the issue r’s option, provided that:

(1) the long -te rm de bt of suc h state, provinc e or c ountry is rate d “A-3” o r “A-” o r hig he r
ac c ording to Moody’s o r S & P (o r suc h similar e quivale nt rating by at le ast one “nationally re c og niz e d
statistic al rating org aniz ation” (within the me aning of Rule 15c 3-1(c )(2)(vi)(F) unde r the Exc hang e Ac t
)), and

(2) suc h oblig ations mature within one ye ar of the date of ac quisition the re of; and

(f) Inve stme nts in mone y marke t funds whic h inve st substantially all of the ir asse ts in se c uritie s of
the type s de sc ribe d in c lause s (a) throug h (e ) above .

“TIA” me ans the Trust Inde nture Ac t of 1939, as ame nde d.

“Total Leverage Ratio” me ans, as of any date of de te rmination, the ratio of:

(a) the total De bt of the Company as of suc h date , to

(b) the ag g re g ate amount of EBITDA for the most re c e nt four c onse c utive sc al quarte rs for whic h
financ ial state me nts are public ly available prior to suc h de te rmination date .

in e ac h c ase, with suc h pro forma adjustme nts as are appropriate and c onsiste nt with the pro forma
adjustme nt provisions se t forth in the de nition of Consolidate d Inte re st Cove rag e Ratio (inc luding , for avoidanc e of
doubt, adjustme nts c onte mplate d within the de finition of “pro forma”).

“Treasury Rate” me ans, with re spe c t to any re de mption date, the rate pe r annum e qual to the yie ld to
maturity of the Comparable Tre asury Issue , c ompounde d se mi-annually, assuming a pric e for suc h Comparable
Tre asury Issue (e xpre sse d as a pe rc e ntag e of its princ ipal amount) e qual to the Comparable Tre asury Pric e for suc h
re de mption date .

“Trustee” me ans the P e rs on name d as the “Truste e ” in the rst parag raph of this instrume nt o r any
suc c e ssor Truste e that shall have be c ome suc h pursuant to the applic able provisions of this Inde nture .

“Unrestricted De nitive Notes” me ans one o r more De nitive Note s that do not and are not re quire d to
be ar the Private Plac e me nt Le g e nd .

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 “Unrestricted Global Notes” me ans one o r more Global Note s that do not and are not re quire d to be ar
the Private Plac e me nt Le g e nd .

“Unrestricted Subsidiary” me ans:

(a) any Subsidiary of the Company that is de sig nate d as an U nre stric te d Subsidiary as pe rmitte d or
re quire d pursuant to S e c tio n 4 . 1 5 he re o f and is not the re afte r re de sig nate d as a Re stric te d Subsidiary as
pe rmitte d pursuant the re to; and

(b) any Subsidiary of an U nre stric te d Subsidiary .

“U.S. Government Obligations” me ans dire c t oblig ations ( o r c e rti c ate s re pre se nting an owne rship
inte re st in suc h oblig ations) of the U nite d State s of Ame ric a (inc luding any ag e nc y o r instrume ntality the re of) for the
payme nt of whic h the full faith and c re dit of the U nite d State s of Ame ric a is ple dg e d and whic h are not c allable or
re de e mable at the issue r’s option.

“Voting Stock” of any Pe rson me ans all c lasse s of Capital Stoc k or othe r inte re sts (inc luding partne rship
inte re sts) of suc h Pe rson the n outstanding and normally e ntitle d (without re g ard to the oc c urre nc e of any c onting e nc y) to
vote in the e le c tion of dire c tors, manag e rs or truste e s the re of.

Se c tion 1.0 2. Other Definitio ns.

De fin e d in
Te rm S e c tio n
“Ac c e le ration Notic e ” 6.0 2
“Additional Amounts ” 4.19
“Affiliate Transac tion ” 4.14
“Alloc able Exc e ss Proc e e ds ” 4.12
“Asse t Sale Offe r ” 3.0 9
“Authe ntic ation Orde r ” 2.0 2
“Base Curre nc y ” 12.13
“Be ne fite d Party ” 10 .0 1
“Chang e of Control Offe r ” 4.16
“Chang e of Control Payme nt Date ” 4.16
“Chang e of Control Purc hase Pric e ” 4.16
“Cove nant De fe asanc e ” 8.0 3
“Company ” Pre amble
“de fe asanc e trust ” 8.0 4
“DTC ” 2.0 3
“Eve nt of De fault ” 6.0 1
“Exc e ss Proc e e ds ” 4.12
“Exc lude d Taxe s ” 4.19(a)
“First Curre nc y ” 12.14
“judg me nt c urre nc y ” 12.13
“Le g al De fe asanc e ” 8.0 2
“losse s ” 7.0 7
“Note s Pre amble
“Offe r Amount ” 3.0 9
“Offe r Pe riod ” 3.0 9
“Othe r Curre nc y ” 12.14

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 De fin e d in
Te rm S e c tio n
“Paying Ag e nt ” 2.0 3
“Pe rmitte d De bt ” 4.0 9
“Purc hase Date ” 3.0 9
“rate (s) of e xc hang e ” 12.13
“Re g istrar ” 2.0 3
“re tiring Truste e ” 7.0 8
“Se c urity Re g iste r ” 4.16
“Tax Jurisdic tion ” 4.19
“Taxe s ” 4.19
“Truste e ” Pre amble

Se c tion 1.0 3. Inc o rpo ratio n by Referenc e o f T rust Indenture Ac t.

(a) Whe ne ve r this Inde nture re fe rs to a provision of the TIA , the provision is inc orporate d by
re fe re nc e in and made a part of this Inde nture .

(b) The following TIA te rms use d in this Inde nture have the following me aning s:

“indenture securities” me ans the Note s ;

“indenture security holder” me ans a Holde r of a Note ;

“indenture to be qualified” me ans this Inde nture ;

“indenture trustee” or “institutional trustee” me ans the Truste e ; and

“obligor” on the Note s me ans the Company and any suc c e ssor oblig or upon the Note s .

(c ) All othe r te rms use d in this Inde nture that are de ne d by the TIA , de ne d by TIA re fe re nc e to
anothe r statute o r de ne d by Commission rule unde r the T IA and not othe rwise de ne d he re in have the me aning s so
assig ne d to the m.

Se c tion 1.0 4. Rules o f Co nstruc tio n.

(a) U nle ss the c onte xt othe rwise re quire s:

(i) a te rm has the me aning assig ne d to it;

(ii) an ac c ounting te rm not othe rwise de ne d he re in has the me aning assig ne d to it in ac c ordanc e
with GAAP ;

(iii) “or” is not e xc lusive ;

(iv) words in the sing ular inc lude the plural, and in the plural inc lude the sing ular;

(v) all re fe re nc e s in this instrume nt to de sig nate d “Artic le s,” “Se c tions” and othe r subdivisions are
to the de sig nate d Artic le s, Se c tions and subdivisions of this instrume nt as orig inally e xe c ute d o r as ame nde d
pursuant to and in ac c ordanc e with Artic le 9 he re of;

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 (vi) the words “he re in,” “he re of” and “he re unde r” and othe r words of similar import re fe r to this
Inde nture as a whole and not to any partic ular Artic le , Se c tion or othe r subdivision.

(vii) “inc luding ” me ans “inc luding without limitation”;

(viii) provisions apply to suc c e ssive e ve nts and transac tions; and

(ix) re fe re nc e s to se c tions of or rule s unde r the Se c uritie s Ac t shall be de e me d to inc lude substitute,
re plac e me nt or suc c e ssor se c tions or rule s adopte d by the Commission from time to time .

ART ICLE 2.

THE NOTES

Se c tion 2.0 1. Fo rm and Dating .

(a) General. The Note s and the Truste e ’s c e rti c ate of authe ntic ation shall be substantially in the
form of Exhibit A he re to, whic h is he re by inc orporate d in and e xpre ssly made part of this Inde nture . The Note s may have
notations, le g e nds o r e ndorse me nts re quire d by law, stoc k e xc hang e rule o r usag e in addition to those se t forth on
Exhibit A. Eac h Note shall be date d the date of its authe ntic ation. The Note s shall be in de nominations of U S$2,0 0 0 and
inte g ral multiple s of U S$1,0 0 0 in e xc e ss the re of. The te rms and provisions c ontaine d in the Note s shall c onstitute, and
are he re by e xpre ssly made, a part of this Inde nture and the Company , the Subsidiary Guarantors and the Truste e , by
the ir e xe c ution and de live ry of this Inde nture , e xpre ssly ag re e to suc h te rms and provisions and to be bound
the re by. Howe ve r, to the e xte nt any provision of any Note c on ic ts with the e xpre ss provisions of this Inde nture , the
provisions of this Inde nture shall g ove rn and be c ontrolling .

(b) Fo rm o f No tes . Note s shall be issue d initially in g lobal form and shall be substantially in the form
of Exhibit A attac he d he re to (inc luding the Global Note Le g e nd provide d in Se c tion 2.0 6(f)(ii) he re of and the “Sc he dule
of Exc hang e s of Inte re sts in the Global Note ” attac he d the re to). Note s issue d in de nitive form shall be substantially in
the form of Exhibit A attac he d he re to (but without the Global Note Le g e nd provide d i n Se c tion 2.0 6(f)(ii) he re of and
without the “Sc he dule of Exc hang e s of Inte re sts in the Global Note ” attac he d the re to). Eac h Global Note shall re pre se nt
suc h of the outstanding Note s as shall be spe c i e d the re in and e ac h shall provide that it shall re pre se nt the ag g re g ate
princ ipal amount of outstanding Note s from time to time e ndorse d the re on and that the ag g re g ate princ ipal amount of
outs tanding No te s re pre se nte d the re by may from time to time be re duc e d o r inc re ase d, as appropriate, to re e c t
e xc hang e s and re de mptions and transfe rs of inte re sts the re in. Any e ndorse me nt of a Global Note to re e c t the amount
of any inc re ase or de c re ase in the ag g re g ate princ ipal amount of outstanding Note s re pre se nte d the re by shall be made by
the Truste e or the Custodian , at the dire c tion of the Truste e , in ac c ordanc e with instruc tions g ive n by the Holde r the re of
as re quire d by Se c tion 2.0 6 he re of.

(c) Bo o k- Entry P ro visio ns. This Se c tion 2.0 1(c ) shall only apply to Global Note s de posite d with
the Truste e , as c ustodian for the De positary . P artic ipants a nd Indire c t Partic ipants shall have no rig hts unde r this
Inde nture with re spe c t to any Global Note he ld on the ir be half by the De positary or by the Truste e as the c ustodian for the
De positary or unde r suc h Global Note, and the De positary shall be tre ate d by the Company , the Truste e and any ag e nt
of the Company or the Truste e as the absolute owne r of suc h Global Note for all purpose s whatsoe ve r. Notwithstanding
the fore g oing , nothing he re in shall pre ve nt the Company , the Truste e or any ag e nt of the Company o r the Truste e from
g iving e ffe c t to any writte n c e rtific ation, proxy or othe r authoriz ation furnishe d by the De positary or impair, as be twe e n

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the De positary and its Partic ipants o r Indire c t Partic ipants , the Applic able Proc e dure s o r the ope ration of c ustomary
prac tic e s of the De positary g ove rning the e xe rc ise of the rig hts of a holde r of a be ne fic ial inte re st in any Global Note .

( d ) Euro c lear and Clearstream P ro c edures Applic able. The provisions of the “Ope rating
Proc e dure s of the Euroc le ar Syste m” and “Te rms and Conditions Gove rning U se of Euroc le ar” and the “Ge ne ral Te rms
and Conditions of Cle arstre am” and “Custome r Handbook” of Cle arstre am shall be applic able to transfe rs of be ne c ial
inte re sts in Global Note s that are he ld by Partic ipants throug h Euroc le ar or Cle arstre am.

(e ) Certific ated Sec urities. If at any time the De positary notifie s the Company that it is unwilling or
unable to c ontinue as De positary o r if at any time the De positary shall no long e r be e lig ible unde r this Se c tion 2.0 1, the
Company shall appoint a suc c e ssor De positary . If a suc c e ssor De positary is not appointe d by the Company within 90
days afte r the Company re c e ive s suc h notic e o r be c ome s aware of suc h ine lig ibility, the Company will e xe c ute, and the
Truste e , upon re c e ipt of a Company orde r for the authe ntic ation and de live ry of De nitive Note s , will authe ntic ate and
de live r De finitive Note s , in authoriz e d de nominations, in an ag g re g ate princ ipal amount and like te rms and te nor e qual to
the princ ipal amount of the Global Note s in e xc hang e for suc h Global Note s .

The Company may at any time and in its sole disc re tion de te rmine that Global Note s shall no long e r be
re pre se nte d by suc h Global Note s . In suc h e ve nt, the Company will e xe c ute, and the Truste e , upon re c e ipt of a
Company orde r for the authe ntic ation and de live ry of De nitive Note s of the same te rms and te nor, will authe ntic ate and
de live r De finitive Note s , in authoriz e d de nominations, and in an ag g re g ate princ ipal amount e qual to the princ ipal amount
of the Global Note s in e xc hang e for suc h Global Note s .

If spe c i e d by the Company pursuant to Se c tion 2.0 6 with re spe c t to Global Note s , the De positary may
surre nde r Global Note s in e xc hang e in whole or in part for De nitive Note s and of like te rms and te nor on suc h te rms as
are ac c e ptable to the Company and suc h De positary . The re upon, the Company shall e xe c ute, and the Trus te e upon
re c e ipt of a Company orde r for the authe ntic ation and de live ry of De finitive Note s , shall authe ntic ate and de live r, without
se rvic e c harg e to the holde rs:

(i) to e ac h Pe rson spe c i e d by suc h De positary a ne w De nitive Note or Note s of the same te nor,
in authoriz e d de nominations, in an ag g re g ate princ ipal amount e qual to and in e xc hang e for suc h Pe rson ’s
be ne fic ial inte re st in the Global Note ; and

(ii) to suc h De positary a ne w Global Note in a de nomination e qual to the diffe re nc e, if any, be twe e n
the princ ipal amount of the surre nde re d Global Note and the ag g re g ate princ ipal amount of the De nitive Note s
de live re d to holde rs pursuant to c lause (i) above .

U pon the e xc hang e of a Global Note for De nitive Note s, suc h Global Note shall be c anc e lle d by the
Truste e o r an ag e nt of the Company o r the Truste e . De nitive Note s in e xc hang e for a Global Note pursuant to this
Se c tion 2.0 1 shall be re g iste re d in suc h name s and in suc h authoriz e d de nominations as the De positary , pursuant to
instruc tions from its dire c t or indire c t partic ipants or othe rwise, shall instruc t the Truste e o r an ag e nt of the Company or
the Truste e in writing . The Truste e o r suc h ag e nt shall de live r suc h Note s t o o r as dire c te d by the P e rs ons in whose
name s suc h Note s are so re g iste re d or to the De positary .

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 Se c tion 2.0 2. Exec utio n and Authentic atio n.

(a) One Of c e r shall sig n the Note s for the Company by manual, fac simile o r portable doc ume nt
format sig nature .

(b) If an Of c e r whose sig nature is on a Note no long e r holds that of c e at the time a No te is
authe ntic ate d, the Note shall ne ve rthe le ss be valid.

(c ) A Note shall not be valid until authe ntic ate d by the manual sig nature of the Truste e . The
sig nature shall be c onc lusive e vide nc e that the Note has be e n authe ntic ate d unde r this Inde nture .

(d) The Truste e shall, upon a writte n orde r of the Company sig ne d by an Offic e r (an “Authentication
Order”), authe ntic ate Note s for orig inal issue .

(e ) The Truste e may appoint an authe ntic ating ag e nt ac c e ptable to the Company to authe ntic ate
Note s . U nle ss othe rwise provide d in the appointme nt, an authe ntic ating ag e nt may authe ntic ate No te s whe ne ve r the
Truste e may do so. Eac h re fe re nc e in this Inde nture to authe ntic ation by the Trus te e inc lude s authe ntic ation by suc h
ag e nt. An authe ntic ating ag e nt has the same rig hts as an Ag e nt to de al with Holde rs o r a n Af liate of the Company or
any of the ir re spe c tive Subsidiarie s .

(f) The Company may issue Additional Note s from time to time afte r the offe ring of the Initial Note s
. The issuanc e of Additional Note s will be subje c t to the provisions of Se c tion 4.0 9 he re of. The Initial Note s and any
Additional Note s subse que ntly issue d unde r this Inde nture shall be tre ate d as a sing le c lass for all purpose s unde r this
Inde nture , inc luding , without limitation, waive rs, ame ndme nts, re de mptions and offe rs to purc hase .

Se c tion 2.0 3. Reg istrar and P aying Ag ent .

(a) The Company shall maintain an of c e or ag e nc y whe re Note s may be pre se nte d for re g istration
of transfe r or for e xc hang e (“ Registrar”) and an of c e o r ag e nc y whe re Note s may be pre se nte d for payme nt (“ Paying
Agent”). The Re g istrar shall ke e p a re g iste r of the Note s and of the ir transfe r and e xc hang e. The Company may appoint
one or more c o-re g istrars and one or more additional paying ag e nts. The te rm “Re g istrar” inc lude s any c o-re g istrar and
the te rm “Paying Ag e nt” inc lude s any additional paying ag e nt. The Co mpany may c hang e any Paying Ag e nt or
Re g istrar without notic e to any Holde r . The Company shall notify the Truste e in writing of the name and addre ss of any
Ag e nt not a party to this Inde nture . If the Company fails to appoint o r maintain anothe r e ntity as Re g istrar o r Paying
Ag e nt , the Truste e shall ac t as suc h. The Company or any of its Subsidiarie s may ac t as Paying Ag e nt or Re g istrar.

(b) The Company initially appoints The De pository Trust Company (“ DTC”) to ac t as De positary
with re spe c t to the Global Note s .

(c ) The Company initially appoints the Truste e to ac t as the Re g istrar and Paying Ag e nt and to ac t
as Custodian with re spe c t to the Global Note s , and the Truste e he re by initially ag re e s so to ac t.

Se c tion 2.0 4. P aying Ag ent to Ho ld Mo ney in T rust.

The Company shall re quire e ac h Paying Ag e nt othe r than the Truste e , the Company o r a Subsidiary to
ag re e in writing that the Paying Ag e nt shall hold in trust for the be ne fit of the Holde rs or the

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Truste e all mone y he ld by the Paying Ag e nt for the payme nt of princ ipal, pre mium, if any, o r inte re st on the Note s , and
shall notify the Truste e of any de fault by the Company in making any suc h payme nt. While any suc h de fault c ontinue s, the
Truste e may re quire a Paying Ag e nt to pay all mone y he ld by it to the Truste e . The Company at any time may re quire a
Paying Ag e nt to pay all mone y he ld by it to the Truste e . U pon payme nt ove r to the Truste e , the Paying Ag e nt (if othe r
than the Company or a Subsidiary ) shall have no furthe r liability for the mone y. If the Company o r a Subsidiary ac ts as
Paying Ag e nt , it shall se g re g ate and hold in a se parate trust fund for the be ne t of the Holde rs all mone y he ld by it as
Paying Ag e nt . U pon any bankruptc y or re org aniz ation proc e e ding s re lating to the Company , the Truste e shall se rve as
Paying Ag e nt for the Note s .

Se c tion 2.0 5. Ho lder Lists.

The Truste e shall pre se rve in as c urre nt a form as is re asonably prac tic able the most re c e nt list available
to it of the name s and addre sse s of all Holde rs and shall othe rwise c omply with TIA § 312(a). If the Truste e is not the
Re g istrar , the Company shall furnish to the Truste e at le ast five Busine ss Days be fore e ac h Inte re st Payme nt Date and at
suc h othe r time s as the Truste e may re que st in writing , a list in suc h form and as of suc h date or suc h shorte r time as the
Truste e may allow, as the Truste e may re asonably re quire of the name s and addre sse s of the Holde rs and the Company
shall othe rwise c omply with TIA § 312(a).

Se c tion 2.0 6. T ransfer and Exc hang e .

( a ) T ransfer and Exc hang e o f Glo bal No tes . A Global Note may not be transfe rre d as a whole
e xc e pt by the De positary to a nomine e of the De positary , by a nomine e of the De positary to the De positary o r to
anothe r nomine e of the De positary , or by the De positary or any suc h nomine e to a suc c e ssor De positary o r a nomine e
of suc h suc c e ssor De positary . All Global Note s will be e xc hang e d by the Company for De nitive Note s if (1) the
Company de live rs to the Truste e notic e from the De positary that it is unwilling or unable to c ontinue to ac t as De positary
or that it is no long e r a c le aring ag e nc y re g iste re d unde r the Exc hang e Ac t and, in e ithe r c ase, a suc c e ssor De positary is
not appointe d by the Company within 120 days afte r the date of suc h notic e from the De positary or (2) the Company in its
sole disc re tion de te rmine s that the Global Note s (in whole but not in part) should be e xc hang e d for De nitive Note s and
de live rs a writte n notic e to suc h e ffe c t to the Truste e ; or (3) an Eve nt of De fault e ntitling the Holde rs to ac c e le rate shall
have oc c urre d and be c ontinuing and the Re g istrar has re c e ive d a writte n re que st from the De positary to issue De finitive
Note s . U pon the oc c urre nc e of any of the pre c e ding e ve nts in (1), (2) or (3) above, De nitive Note s shall be issue d in
de nominations of U S$2,0 0 0 o r inte g ral multiple s of U S$1,0 0 0 in e xc e ss the re of and in suc h name s as the De positary
shall instruc t the Truste e in writing . Global Note s also may be e xc hang e d or re plac e d, in whole o r in part, as provide d in
Se c tions 2.0 7 and 2.10 he re of. Eve ry Note authe ntic ate d and de live re d in e xc hang e for, o r in lie u of, a Global Note or
any portion the re of, pursuant to this Se c tion 2.0 6 o r Se c tion 2.0 7 o r 2.10 he re of, shall be authe ntic ate d and de live re d in
the form of, and shall be, a Global Note. A Global Note may not be e xc hang e d for anothe r Note othe r than as provide d
in this Se c tion 2.0 6(a), howe ve r, be ne c ial inte re sts in a Global Note may be transfe rre d and e xc hang e d as provide d in
Se c tion 2.0 6(b), (c ) or (g ) he re of.

( b) T ransfer and Exc hang e o f Bene c ial Interests in the Glo bal No tes. The transfe r and e xc hang e
of be ne c ial inte re sts in the Global Note s shall be e ffe c te d throug h the De positary , in ac c ordanc e with the provisions of
this Inde nture and the Applic able Proc e dure s . Be ne c ial inte re sts in the Re stric te d Global Note s shall be subje c t to
re stric tions on transfe r c omparable to those se t forth he re in to the e xte nt re quire d by the Se c uritie s Ac t . Transfe rs of
be ne c ial inte re sts in the Global Note s also shall re quire c omplianc e with e ithe r c lause (i) o r (ii) be low, as applic able, as
we ll as one or more of the othe r following c lause s, as applic able :

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 ( i) Transfe r of Be ne c ial Inte re sts in the Same Global Note. Be ne c ial inte re sts in any Re stric te d
Global Note may be transfe rre d to P e rsons who take de live ry the re of in the form of a be ne c ial inte re st in the
same Re stric te d Global Note in ac c ordanc e with the transfe r re stric tions se t forth in the Private Plac e me nt
Le g e nd . Be ne c ial inte re sts in any U nre stric te d Global Note may be transfe rre d to P e rsons who take de live ry
the re of in the form of a be ne c ial inte re st in an U nre stric te d Global Note. No writte n orde rs or instruc tions shall
be re quire d to be de live re d to the Re g istrar to e ffe c t the transfe rs de sc ribe d in this Se c tion 2.0 6(b)(i).

( ii) All Othe r Transfe rs and Exc hang e s of Be ne c ial Inte re sts in Global Note s . In c onne c tion with
all transfe rs and e xc hang e s of be ne c ial inte re sts that are not subje c t to Se c tion 2.0 6(b)(i) above, the transfe ror
of suc h be ne c ial inte re st must de live r to the Re g istrar e ithe r (A)(1) a writte n orde r from a P artic ipant o r an
Indire c t Partic ipant g ive n to the De po s itary in ac c ordanc e with the Applic able Proc e dure s dire c ting the
De positary to c re dit or c ause to be c re dite d a be ne c ial inte re st in anothe r Global Note in an amount e qual to the
be ne c ial inte re st to be transfe rre d o r e xc hang e d and (2) instruc tions g ive n in ac c ordanc e with the Applic able
Proc e dure s c ontaining information re g arding the Partic ipant ac c ount to be c re dite d with suc h inc re ase o r (B)(1)
a writte n orde r from a P artic ipant o r a n Indire c t Partic ipant g ive n to the De pos itary in ac c ordanc e with the
Applic able Proc e dure s dire c ting the De positary to c ause to be issue d a De finitive Note in an amount e qual to the
be ne c ial inte re st to be transfe rre d o r e xc hang e d and (2) instruc tions g ive n by the De positary to the Re g istrar
c ontaining information re g arding the Pe rson in whose name suc h De finitive Note shall be re g iste re d to e ffe c t the
transfe r o r e xc hang e re fe rre d to in (B)(1) above. U pon satisfac tion of all of the re quire me nts for transfe r or
e xc hang e of be ne fic ial inte re sts in Global Note s c ontaine d in this Inde nture and the Note s or othe rwise applic able
unde r the Se c uritie s Ac t , the Truste e shall adjust the princ ipal amount of the re le vant Global Note (s) pursuant to
Se c tion 2.0 6(g ) he re of.

( iii) Trans fe r of Be ne c ial Inte re sts in a Re stric te d Global Note to Anothe r Re stric te d Global
Note . A be ne c ial inte re st in any Re stric te d Global Note may be transfe rre d to a P e rs on who take s de live ry
the re of in the form of a be ne c ial inte re st in anothe r Re stric te d Global Note if the transfe r c omplie s with the
re quire me nts of Se c tion 2.0 6(b)(ii) above and the Re g istrar re c e ive s the following :

(A) if the transfe re e will take de live ry in the form of a be ne c ial inte re st in the 144A Global
Note , the n the transfe ror must de live r a c e rti c ate in the form of Exhibit B he re to, inc luding the
c e rtific ations in ite m (1) the re of; and

(B) if the transfe re e will take de live ry in the form of a be ne c ial inte re st in the Re g ulation S
Global Note , the n the transfe ror must de live r a c e rti c ate in the form of Exhibit B he re to, inc luding the
c e rtific ations in ite m (2) the re of.

( i v ) Trans fe r a nd Exc hang e of Be ne c ial Inte re sts in a Re stric te d Global Note for Be ne c ial
Inte re sts in an U nre stric te d Global Note . A be ne c ial inte re st in any Re stric te d Global Note may be e xc hang e d
by any holde r the re of for a be ne c ial inte re st in an U nre stric te d Global Note o r transfe rre d to a P e rs on who
take s de live ry the re of in the form of a be ne c ial inte re st in an U nre stric te d Global Note if the e xc hang e or
transfe r c omplie s with the re quire me nts of Se c tion 2.0 6(b)(ii) above and:

(A) suc h transfe r is e ffe c te d pursuant to a re g istration state me nt in ac c ordanc e with the Se c uritie s
Ac t ; or

(B) the Re g istrar re c e ive s the following :

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 (1) if the holde r of suc h be ne c ial inte re st in a Re stric te d Global Note propose s to
e xc hang e suc h be ne c ial inte re st for a be ne c ial inte re st in an U nre stric te d Global Note, a
c e rti c ate from suc h holde r in the form of Exhibit C he re to, inc luding the c e rti c ations in ite m (1)
(a) the re of; or

(2) if the holde r of suc h be ne c ial inte re st in a Re stric te d Global Note propose s to
transfe r suc h be ne c ial inte re st to a P e rs on who shall take de live ry the re of in the form of a
be ne c ial inte re st in an U nre stric te d Global Note, a c e rti c ate from suc h holde r in the form of
Exhibit B he re to, inc luding the c e rtific ations in ite m (4) the re of;

and, in e ac h suc h c ase se t forth in this c lause (B), if the Re g istrar so re que sts o r if the Applic able
P ro c e dure s so re quire, an Opinion of Counse l to the e ffe c t that suc h e xc hang e o r transfe r is in
c omplianc e with the Se c uritie s Ac t and that the re stric tions on transfe r c ontaine d he re in and in the Private
Plac e me nt Le g e nd are no long e r re quire d in orde r to maintain c omplianc e with the Se c uritie s Ac t .

If any suc h transfe r is e ffe c te d pursuant to this c lause (iv) at a time whe n an U nre stric te d Global Note has
not ye t be e n issue d, the Company shall issue and, upon re c e ipt of an Authe ntic ation Orde r in ac c ordanc e with
Se c tion 2.0 2 he re of, the Trus te e shall authe ntic ate one o r mo re U nre stric te d Global Note s in an ag g re g ate
princ ipal amount e qual to the ag g re g ate princ ipal amount of be ne fic ial inte re sts transfe rre d pursuant to this c lause
(iv).

( v ) Trans fe r o r Exc hang e of Be ne c ial Inte re sts in U nre stric te d Global Note s for Be ne c ial
Inte re sts in Re stric te d Global Note s Prohibite d. Be ne c ial inte re sts in an U nre stric te d Global Note c annot be
e xc hang e d for, o r transfe rre d to P e rs ons who take de live ry the re of in the form of, a be ne c ial inte re st in a
Re stric te d Global Note .

(c ) T ransfer o r Exc hang e o f Benefic ial Interests fo r Definitive No tes.

(i) Be ne fic ial Inte re sts in Re stric te d Global Note s to Re stric te d De finitive Note s . If any holde r of a
be ne c ial inte re st in a Re stric te d Global Note propose s to e xc hang e suc h be ne c ial inte re st for a Re stric te d
De nitive Note o r to transfe r suc h be ne c ial inte re st to a P e rs on who take s de live ry the re of in the form of a
Re stric te d De finitive Note , the n, upon re c e ipt by the Re g istrar of the following doc ume ntation:

(A) if the holde r of suc h be ne c ial inte re st in a Re stric te d Global Note propose s to e xc hang e suc h
be ne c ial inte re st for a Re stric te d De finitive Note , a c e rti c ate from suc h holde r in the form of Exhibit C he re to,
inc luding the c e rtific ations in ite m (2)(a) the re of;

(B) if suc h be ne c ial inte re st is be ing transfe rre d to a Q IB in ac c ordanc e with Rule 144A , a
c e rtific ate to the e ffe c t se t forth in Exhibit B he re to, inc luding the c e rtific ations in ite m (1) the re of;

(C) if suc h be ne c ial inte re st is be ing transfe rre d to a Non-U.S. Pe rson in an offshore transac tion in
ac c ordanc e with Rule 90 3 o r Rule 90 4 , a c e rti c ate to the e ffe c t se t forth in Exhibit B he re to, inc luding the
c e rtific ations in ite m (2) the re of;

(D) if suc h be ne c ial inte re st is be ing transfe rre d pursuant to an e xe mption from the re g istration
re quire me nts of the Se c uritie s Ac t in ac c ordanc e with Rule 144 unde r the Se c uritie s

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 Ac t, a c e rtific ate to the e ffe c t se t forth in Exhibit B he re to, inc luding the c e rtific ations in ite m (3)(a) the re of;

(E) if suc h be ne c ial inte re st is be ing transfe rre d to the Company o r any of its Subsidiarie s , a
c e rtific ate to the e ffe c t se t forth in Exhibit B he re to, inc luding the c e rtific ations in ite m (3)(b) the re of; or

(F) if suc h be ne c ial inte re st is be ing transfe rre d pursuant to an e ffe c tive re g istration state me nt
unde r the Se c uritie s Ac t , a c e rti c ate to the e ffe c t se t forth in Exhibit B he re to, inc luding the c e rti c ations in ite m
(3)(c ) the re of,

the Truste e shall c ause the ag g re g ate princ ipal amount of the applic able Global Note to be re duc e d ac c ording ly pursuant
to Se c tion 2.0 6(g ) he re of, and the Company shall e xe c ute and the Truste e shall authe ntic ate and de live r to the Pe rson
de sig nate d in the instruc tions a De nitive Note in the appropriate princ ipal amount. Any De nitive Note issue d in
e xc hang e for a be ne c ial inte re st in a Re stric te d Global Note pursuant to this Se c tion 2.0 6(c ) shall be re g iste re d in suc h
name o r name s and in suc h authoriz e d de nomination o r de nominations as the holde r of suc h be ne c ial inte re st shall
instruc t the Re g istrar throug h instruc tions from the De positary and the P artic ipant o r Indire c t Partic ipant . The Truste e
shall mail or de live r suc h De nitive Note s to the P e rsons in whose name s suc h Note s are so re g iste re d. Any De finitive
Note issue d in e xc hang e for a be ne c ial inte re st in a Re stric te d Global Note pursuant to this Se c tion 2.0 6(c )(i) shall be ar
the Private Plac e me nt Le g e nd and shall be subje c t to all re stric tions on transfe r c ontaine d the re in.

( ii) Be ne c ial Inte re sts in Re stric te d Global Note s to U nre stric te d De nitive Note s . A holde r of a
be ne c ial inte re st in a Re stric te d Global Note may e xc hang e suc h be ne c ial inte re st for an U nre stric te d De nitive Note
o r may transfe r suc h be ne c ial inte re st to a P e rson who take s de live ry the re of in the form of an U nre stric te d De finitive
Note only if:

(A) suc h transfe r is e ffe c te d pursuant to a re g istration state me nt in ac c ordanc e with the Se c uritie s
Ac t ; or

(B) the Re g istrar re c e ive s the following :

(1) if the holde r of suc h be ne c ial inte re st in a Re stric te d Global Note propose s to e xc hang e
suc h be ne c ial inte re st for an U nre stric te d De finitive Note , a c e rti c ate from suc h holde r in the form of
Exhibit C he re to, inc luding the c e rtific ations in ite m (1)(b) the re of; or

(2) if the holde r of suc h be ne c ial inte re st in a Re stric te d Global Note propose s to transfe r
suc h be ne c ial inte re st to a P e rs o n who shall take de live ry the re of in the form of an U nre stric te d
De finitive Note , a c e rti c ate from suc h holde r in the form of Exhibit B he re to, inc luding the c e rti c ations
in ite m (4) the re of;

and, in e ac h suc h c ase se t forth in this c lause (B), if the Re g istrar so re que sts or if the Applic able Proc e dure s so
re quire, an Opinion of Counse l to the e ffe c t that suc h e xc hang e o r transfe r is in c omplianc e with the Se c uritie s
Ac t and that the re stric tions on transfe r c ontaine d he re in and in the Private Plac e me nt Le g e nd are no long e r
re quire d in orde r to maintain c omplianc e with the Se c uritie s Ac t .

( iii) Be ne c ial Inte re sts in U nre stric te d Global Note s to U nre stric te d De nitive Note s . If any
holde r of a be ne fic ial inte re st in an U nre stric te d Global Note propose s to e xc hang e suc h

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be ne c ial inte re st for a De finitive Note or to transfe r suc h be ne c ial inte re st to a Pe rson who take s de live ry the re of in the
form of a De finitive Note , the n, upon satisfac tion of the c onditions se t forth in Se c tion 2.0 6(b)(ii) he re of, the Truste e shall
c ause the ag g re g ate princ ipal amount of the applic able Global Note to be re duc e d ac c ording ly pursuant to Se c tion
2.0 6(g ) he re of, and the Company shall e xe c ute and the Trus te e shall authe ntic ate and mail o r de live r to the Pe rson
de sig nate d in the instruc tions a De nitive Note in the appropriate princ ipal amount. Any De nitive Note issue d in
e xc hang e for a be ne c ial inte re st pursuant to this Se c tion 2.0 6(c )(iii) shall be re g iste re d in suc h name o r name s and in
suc h authoriz e d de nomination o r de nominations as the holde r of suc h be ne c ial inte re st shall instruc t the Re g istrar
throug h instruc tions from the De positary and the P artic ipant o r Indire c t Partic ipant . The Trus te e shall mail o r de live r
s uc h De nitive Note s to the P e rs ons in whose name s suc h No te s are so re g iste re d. Any De nitive Note issue d in
e xc hang e for a be ne fic ial inte re st pursuant to this Se c tion 2.0 6(c )(iii) shall not be ar the Private Plac e me nt Le g e nd .

(d) T ransfer and Exc hang e o f Definitive No tes fo r Benefic ial Interests in the Glo bal No tes.

( i) Re stric te d De finitive Note s to Be ne c ial Inte re sts in Re stric te d Global Note s . If any Holde r of
a Re stric te d De nitive Note propose s to e xc hang e suc h Note for a be ne c ial inte re st in a Re stric te d Global Note o r to
transfe r suc h Re stric te d De nitive Note s to a P e rson who take s de live ry the re of in the form of a be ne c ial inte re st in a
Re stric te d Global Note , the n, upon re c e ipt by the Re g istrar of the following doc ume ntation:

(A) if the Holde r of suc h Re stric te d De finitive Note propose s to e xc hang e suc h Note for a be ne c ial
inte re st in a Re stric te d Global Note, a c e rti c ate from suc h Holde r in the form of Exhibit C he re to, inc luding the
c e rtific ations in ite m (2)(b) the re of;

(B) if suc h Re stric te d De nitive Note is be ing transfe rre d to a QIB in ac c ordanc e with Rule 144A , a
c e rtific ate to the e ffe c t se t forth in Exhibit B he re to, inc luding the c e rtific ations in ite m (1) the re of;

(C) if suc h Re stric te d De nitive Note is be ing transfe rre d to a Non-U.S. Pe rson in an offshore
transac tion in ac c ordanc e with Rule 90 3 o r Rule 90 4 , a c e rti c ate to the e ffe c t se t forth in Exhibit B he re to,
inc luding the c e rtific ations in ite m (2) the re of;

(D) if suc h Re stric te d De nitive Note is be ing transfe rre d pursuant to an e xe mption from the
re g istration re quire me nts of the Se c uritie s Ac t in ac c ordanc e with Rule 144 , a c e rti c ate to the e ffe c t se t forth in
Exhibit B he re to, inc luding the c e rtific ations in ite m (3)(a) the re of;

(E) if suc h Re stric te d De finitive Note is be ing transfe rre d to the Company or any of its Subsidiarie s ,
a c e rtific ate to the e ffe c t se t forth in Exhibit B he re to, inc luding the c e rtific ations in ite m (3)(b) the re of; or

(F) if suc h Re stric te d De nitive Note is be ing transfe rre d pursuant to an e ffe c tive re g istration
state me nt unde r the Se c uritie s Ac t , a c e rti c ate to the e ffe c t se t forth in Exhibit B he re to, inc luding the
c e rtific ations in ite m (3)(c ) the re of,

the Truste e shall c anc e l the Re stric te d De finitive Note , inc re ase or c ause to be inc re ase d the ag g re g ate princ ipal amount
of, in the c ase of c lause (A) above, the appropriate Re stric te d Global Note, in the c ase of c lause (B) above, the 144A
Global Note , in the c ase of c lause (C) above , the Re g ulation S Global Note .

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 ( ii) Re stric te d De finitive Note s to Be ne c ial Inte re sts in U nre stric te d Global Note s . A Holde r of a
Re stric te d De nitive Note may e xc hang e suc h Note for a be ne c ial inte re st in an U nre stric te d Global Note o r transfe r
s uc h Re stric te d De nitive Note to a P e rs o n who take s de live ry the re of in the form of a be ne c ial inte re st in an
U nre stric te d Global Note only if:

(A) suc h transfe r is e ffe c te d pursuant to a re g istration state me nt in ac c ordanc e with the Se c uritie s
Ac t ; or

(B) the Re g istrar re c e ive s the following :

(1) if the Holde r of suc h De nitive Note s propose s to e xc hang e suc h Note s for a be ne c ial
inte re st in the U nre stric te d Global Note, a c e rti c ate from suc h Holde r in the form of Exhibit C he re to,
inc luding the c e rtific ations in ite m (1)(c ) the re of; or

(2) if the Holde r of suc h De nitive Note s propose s to transfe r suc h Note s to a P e rson who
shall take de live ry the re of in the form of a be ne c ial inte re st in the U nre stric te d Global Note, a c e rti c ate
from suc h Holde r in the form of Exhibit B he re to, inc luding the c e rtific ations in ite m (4) the re of;

and, in e ac h suc h c ase se t forth in this c lause (B), if the Re g istrar so re que sts or if the Applic able Proc e dure s so
re quire, an Opinion of Counse l to the e ffe c t that suc h e xc hang e o r transfe r is in c omplianc e with the Se c uritie s
Ac t and that the re stric tions on transfe r c ontaine d he re in and in the Private Plac e me nt Le g e nd are no long e r
re quire d in orde r to maintain c omplianc e with the Se c uritie s Ac t .

U pon satisfac tion of the c onditions of any of the c lause s in this Se c tion 2.0 6(d)(ii), the Trus te e shall
c anc e l the De nitive Note s and inc re ase o r c ause to be inc re ase d the ag g re g ate princ ipal amount of the U nre stric te d
Global Note .

(iii) U nre stric te d De finitive Note s to Be ne fic ial Inte re sts in U nre stric te d Global Note s . A Holde r of
an U nre stric te d De nitive Note may e xc hang e suc h No te for a be ne c ial inte re st in an U nre stric te d Global Note or
transfe r suc h U nre stric te d De finitive Note to a Pe rson who take s de live ry the re of in the form of a be ne c ial inte re st in an
U nre stric te d Global Note at any time. U pon re c e ipt of a re que st for suc h an e xc hang e o r transfe r, the Trus te e shall
c anc e l the applic able U nre stric te d De nitive Note and inc re ase or c ause to be inc re ase d the ag g re g ate princ ipal amount
of one of the U nre stric te d Global Note s .

( iv) Transfe r o r Exc hang e of U nre stric te d De nitive Note s to Be ne c ial Inte re sts in Re stric te d
Global Note s Prohibite d. An U nre stric te d De nitive Note c annot be e xc hang e d for, or transfe rre d to P e rsons who take
de live ry the re of in the form of, be ne fic ial inte re sts in a Re stric te d Global Note .

( v ) Issuanc e of U nre stric te d Global Note s . If any suc h e xc hang e o r transfe r from a De finitive
Note to a be ne c ial inte re st is e ffe c te d pursuant to c lause s (ii) or (iii) above at a time whe n an U nre stric te d Global Note
has not ye t be e n issue d, the Company shall issue and, upon re c e ipt of an Authe ntic ation Orde r in ac c ordanc e with Se c tion
2.0 2 he re of, the Trus te e shall authe ntic ate one o r mo re U nre stric te d Global Note s in an ag g re g ate princ ipal amount
e qual to the princ ipal amount of De finitive Note s so transfe rre d.

(e) T ransfer and Exc hang e o f De nitive No tes fo r De nitive No tes . U pon re que st by a Holde r of
De finitive Note s and suc h Holde r ’s c omplianc e with the provisions of this Se c tion 2.0 6(e ), the Re g istrar shall re g iste r the
transfe r or e xc hang e of De finitive Note s . Prior to suc h re g istration

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of transfe r o r e xc hang e, the re que sting Holde r shall pre se nt o r surre nde r to the Re g istrar th e De nitive Note s duly
e ndors e d o r ac c ompanie d by a writte n instruc tion of transfe r duly e xe c ute d by suc h Holde r o r by its attorne y, duly
authoriz e d in writing . In addition, the re que sting Ho lde r shall provide any additional c e rti c ations, doc ume nts and
information, as applic able , re quire d pursuant to the following provisions of this Se c tion 2.0 6(e ).

(i) Re stric te d De finitive Note s to Re stric te d De finitive Note s . Any Re stric te d De nitive Note may
be transfe rre d to and re g iste re d in the name of P e rsons who take de live ry the re of in the form of a Re stric te d De nitive
Note if the Re g istrar re c e ive s the following :

(A) if the transfe r will be made pursuant to Rule 144A , the n the transfe ror must de live r a c e rti c ate in
the form of Exhibit B he re to, inc luding the c e rtific ations in ite m (1) the re of;

(B) if the transfe r will be made pursuant to Rule 90 3 or Rule 90 4 , the n the transfe ror must de live r a
c e rtific ate in the form of Exhibit B he re to, inc luding the c e rtific ations in ite m (2) the re of; and

(C) if the transfe r will be made pursuant to any othe r e xe mption from the re g istration re quire me nts of
the Se c uritie s Ac t , the n the transfe ror must de live r a c e rti c ate in the form of Exhibit B he re to, inc luding the
c e rtific ations, c e rtific ate s and Opinion of Counse l re quire d by ite m (3) the re of, if applic able .

( ii) Re stric te d De nitive Note s to U nre stric te d De nitive Note s . Any Re stric te d De nitive Note
may be e xc hang e d by the Holde r the re of for an U nre stric te d De nitive Note or transfe rre d to a P e rson o r P e rsons who
take de live ry the re of in the form of an U nre stric te d De finitive Note if:

(A) suc h transfe r is e ffe c te d pursuant to a re g istration state me nt in ac c ordanc e with the Se c uritie s
Ac t ; or

(B) the Re g istrar re c e ive s the following :

(1) if the Holde r of suc h Re stric te d De nitive Note s propose s to e xc hang e suc h Note s for
an U nre stric te d De finitive Note , a c e rti c ate from suc h Holde r in the form of Exhibit C he re to, inc luding
the c e rtific ations in ite m (1)(d) the re of; or

(2) if the Holde r of suc h Re stric te d De nitive Note s propose s to transfe r suc h Note s to a
Pe rson who shall take de live ry the re of in the form of an U nre stric te d De finitive Note , a c e rti c ate from
suc h Holde r in the form of Exhibit B he re to, inc luding the c e rtific ations in ite m (4) the re of;

and, in e ac h suc h c ase se t forth in this c lause (B), if the Re g istrar so re que sts, an Opinion of Counse l in form re asonably
ac c e ptable to the Re g istrar and the Company to the e ffe c t that suc h e xc hang e o r transfe r is in c omplianc e with the
Se c uritie s Ac t and that the re stric tions on transfe r c ontaine d he re in and in the Private Plac e me nt Le g e nd are no long e r
re quire d in orde r to maintain c omplianc e with the Se c uritie s Ac t .

( iii) U nre stric te d De nitive Note s to U nre stric te d De nitive Note s . A Holde r o f U nre stric te d
De nitive Note s may transfe r suc h Note s to a P e rson who take s de live ry the re of in the form of U nre stric te d De nitive
Note s . U pon re c e ipt of a re que st to re g iste r suc h a transfe r, the Re g istrar shall re g iste r the U nre stric te d De nitive
Note s pursuant to the instruc tions from the Holde r the re of.

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 ( f ) Le g e nds. The following le g e nds shall appe ar on the fac e of all Global Note s and De nitive
Note s issue d unde r this Inde nture unle ss spe c ific ally state d othe rwise in the applic able provisions of this Inde nture .

(i) Private Plac e me nt Le g e nd .

(A) Exc e pt as pe rmitte d by c lause (B) be low, e ac h Global Note and e ac h De nitive Note (and all
Note s issue d in e xc hang e the re for or substitution the re of) shall be ar the le g e nd in substantially the following form:

“THIS SECU RITY HAS NOT BEEN REGISTERED U NDER THE SECU RITIES ACT OF 1933, AS
AMENDED (THE “SECU RITIES ACT”), OR THE SECU RITIES LAWS OF ANY STATE OR
OTHER JU RISDICTION. NEITHER THIS SECU RITY NOR ANY INTEREST OR
PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED,
PLEDGED, ENCU MBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SU CH
REGISTRATION OR U NLESS SU CH TRANSACTION IS EXEMPT FROM, O R NOT SU BJECT
TO, THE REGISTRATION REQU IREMENTS OF THE SECU RITIES ACT .”

“THE HOLDER OF THIS SECU RITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER,
SELL OR OTHERWISE TRANSFER SU CH SECU RITY, PRIOR TO THE DATE (THE “RESALE
RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR AFTER THE LAST DATE OF
ORIGINAL ISSUANCE OF THE NOTES, ONLY (A) TO THE ISSU ER, (B) PU RSUANT TO A
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE U NDER THE
SECU RITIES ACT , (C) FOR SO LONG AS THE SECU RITIES ARE ELIGIBLE FOR RESALE
PU RSU ANT TO RU LE 144A U NDER THE SECU RITIES ACT (“RU LE 144A”), TO A PERSON IT
REASONABLY BELIEVES IS A “QUALIFIED INSTITU TIONAL BU YER” AS DEFINED IN
RU LE 144A THAT PU RCHASES FOR ITS OWN ACCOU NT OR FOR THE ACCOU NT OF A
QUALIFIED INSTITU TIONAL BU YER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER
IS BEING MADE IN RELIANCE ON RU LE 144A , (D) PU RSUANT TO OFFERS AND SALES TO
NON-U.S. PERSONS THAT OCCU R OU TSIDE THE U NITED STATES WITHIN THE
MEANING OF REGU LATION S U NDER THE SECU RITIES ACT , PU RSUANT TO RU LE 90 4
OF REGU LATION S (PROVIDED THAT SU CH NON-U.S. PERSONS AGREE NOT TO RESELL
OR OTHERWISE TRANSFER THE SECU RITIES IN CANADA OR FOR THE BENEFIT OF A
CANADIAN RESIDENT, EXCEPT IN ACCORDANCE WITH APPLICABLE CANADIAN
SECU RITIES LAWS), (E) TO AN ’ACCREDITED INVESTOR” WITHIN THE MEANING OF
RU LE 50 1(a)(l), (2), (3) OR (7) U NDER THE SECU RITIES ACT THAT IS AN INSTITU TIONAL
ACCREDITED INVESTOR ACQU IRING THE SECU RITY FOR ITS OWN ACCOU NT OR FOR
THE ACCOU NT OF SU CH AN INSTITU TIONAL ACCREDITED INVESTOR, IN EACH CASE IN
A MINIMU M PRINCIPAL AMOU NT OF THE SECU RITIES OF U S$250 ,0 0 0 , FOR
INVES TMENT PU RPOSES AND N O T WITH A VIEW TO OR FOR OFFER OR SALE IN
CONNECTION WITH ANY DISTRIBU TION IN VIOLATION OF THE SECU RITIES ACT OR (F)
PU RSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQU IREMENTS OF THE SECU RITIES ACT AND THE SECU RITIES LAWS OF ANY OTHER
JU RISDICTION, INCLU DING OF ANY STATE OF THE U NITED STATES OR ANY PROVINCE
OF CANADA, SU BJECT TO THE COMPANY ’S AND THE TRU STEE ’S RIGHT PRIOR TO ANY
SU CH OFFER, SALE OR TRANSFER PU RSUANT TO CLAU SES (D), (E) OR (F) TO REQU IRE
THE DELIVERY

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 OF AN OPINION OF COU NSEL, CERTIFICATION AND/OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED U PON THE
REQU EST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE .”

“IN CANADA, U NLESS PERMITTED U NDER CANADIAN SECU RITIES LEGISLATION, THE
HOLDER OF THE SECU RITIES SHALL NOT TRADE THE SECU RITIES BEFORE SEPTEMBER
20 , 20 15.”

(B) Notwithstanding the fore g oing , any Global Note or De nitive Note issue d pursuant to c lause s
(b)(iv), (c )(ii), (c )(iii), (d)(ii), (d)(iii), (e )(ii) o r (e )(iii) of this Se c tion 2.0 6 (and all Note s issue d in e xc hang e the re for or
substitution the re of) shall not be ar the Private Plac e me nt Le g e nd ; provided , however that any Global Note o r De finitive
Note issue d pursuant to c lause s (b)(iv), (c )(ii), (c )(iii), (d)(ii), (d)(iii), (e )(ii), o r (e )(iii) of this Se c tion 2.0 6 shall, if issue d
be fore the date that is four months and one day afte r the date of orig inal issuanc e of the Note , be ar a le g e nd in
substantially the following form:

“CANADIAN RESALE LEGEND:

IN CANADA, U NLESS PERMITTED U NDER CANADIAN SECU RITIES LEGISLATION,

T H E H O LD E R OF THE SECU RITIES SHALL NOT TRADE THE SECU RITIES BEFORE
SEPTEMBER 20 , 20 15.”

(ii) Global Note Le g e nd . Eac h Global Note shall be ar a le g e nd in substantially the following form:

“ T H IS GLOBAL NOTE IS HELD BY THE DEP O S ITARY (AS DEFINED IN THE

INDENTU RE GOVERNING THIS NOTE ) O R ITS NOMINEE IN CU STODY FOR THE
BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY
P ERS O N U NDER ANY CIRCU MSTANCES EXCEPT THAT (I) THE TRU STEE MAY MAKE
SU CH NOTATIONS HEREON AS MAY BE REQU IRED PU RSUANT TO S ECTIO N 2.0 6 OF
THE INDENTU RE , (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BU T NO T IN
PART PU RSUANT TO SECTIO N 2.0 6(a) OF THE INDENTU RE , (III) THIS GLOBAL NOTE
MAY BE DELIVERED TO THE TRU STEE FOR CANCELLATION PU RSUANT TO SECTION
2.11 OF THE INDENTU RE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A
SU CCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY .

U NLESS THIS NOTE IS PRESENTED BY AN AU THORIZ ED REPRESENTATIVE OF

THE DEPOSITORY TRU ST COMPANY, A NEW YORK CORPORATION (“ DTC”), TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY NOTE ISSU ED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SU CH OTHER NAME AS IS REQU ESTED BY AN AU THORIZ ED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SU CH OTHER ENTITY AS IS
REQU ESTED BY AN AU THORIZ ED REPRESENTATIVE OF DTC ), ANY TRANSFER,
PLEDGE OR OTHER U SE HEREOF FOR VALU E OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFU L INASMU CH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.”

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 ( g ) Canc ellatio n and/o r Adjustment o f Glo bal No tes. At suc h time as all be ne c ial inte re sts in a
partic ular Global Note have be e n e xc hang e d for De nitive Note s o r a partic ular Global Note has be e n re de e me d,
re purc hase d or c anc e lle d in whole and not in part, e ac h suc h Global Note shall be re turne d to or re taine d and c anc e lle d by
the Truste e in ac c ordanc e with Se c tion 2.11 he re of. At any time prior to suc h c anc e llation, if any be ne c ial inte re st in a
Global Note is e xc hang e d for or transfe rre d to a Pe rson who will take de live ry the re of in the form of a be ne c ial inte re st
in anothe r Global Note or for De finitive Note s , the princ ipal amount of Note s re pre se nte d by suc h Global Note shall be
re duc e d ac c ording ly and an e ndorse me nt shall be made on suc h Global Note by the Truste e o r by the De positary at the
dire c tion of the Truste e to re e c t suc h re duc tion; and if the be ne c ial inte re st is be ing e xc hang e d for o r transfe rre d to a
Pe rson who will take de live ry the re of in the form of a be ne c ial inte re st in anothe r Global Note, suc h othe r Global Note
shall be inc re ase d ac c ording ly and an e ndorse me nt shall be made on suc h Global Note by the Trus te e o r by the
De positary at the dire c tion of the Truste e to re fle c t suc h inc re ase .

(h) General P ro visio ns Relating to T ransfers and Exc hang es .

(i) To pe rmit re g istrations of transfe rs and e xc hang e s, the Company shall e xe c ute and, upon re c e ipt
of an Authe ntic ation Orde r in ac c ordanc e with Se c tion 2.0 2, the Truste e shall authe ntic ate Global Note s and De nitive
Note s upon the Company ’s orde r or at the Re g istrar ’s re que st.

(ii) No se rvic e c harg e shall be made to a Holde r of a be ne c ial inte re st in a Global Note o r to a
Holde r of a De finitive Note for any re g istration of transfe r or e xc hang e, but the Company may re quire payme nt of a sum
suf c ie nt to c ove r any transfe r tax or similar g ove rnme ntal c harg e payable in c onne c tion the re with (othe r than any suc h
transfe r taxe s or similar g ove rnme ntal c harg e payable upon e xc hang e o r transfe r pursuant to Se c tions 2.10 , 3.0 6, 4.12,
4.16 and 9.0 5 he re of).

(iii) All Global Note s and De nitive Note s issue d upon any re g istration of transfe r o r e xc hang e of
Global Note s or De finitive Note s shall be the valid oblig ations of the Company , e vide nc ing the same de bt, and e ntitle d to
the same be ne ts unde r this Inde nture , as the Global Note s o r De nitive Note s surre nde re d upon suc h re g istration of
transfe r or e xc hang e .

(iv) Ne ithe r the Re g istrar nor the Company shall be re quire d (A) to issue, to re g iste r the transfe r of
or to e xc hang e any Note s during a pe riod be g inning at the ope ning of busine ss 15 days be fore the day of any se le c tion of
No te s for re de mption unde r Se c tion 3.0 2 he re of and e nding at the c lose of busine ss on the day of se le c tion, (B) to
re g iste r the transfe r of o r to e xc hang e any Note so se le c te d for re de mption in whole o r in part, e xc e pt the unre de e me d
portion of any Note be ing re de e me d in part o r (C) to re g iste r the transfe r of o r to e xc hang e a Note be twe e n a Re g ular
Re c ord Date and the ne xt suc c e e ding Inte re st Payme nt Date .

(v) Prior to due pre se ntme nt for the re g istration of a transfe r of any Note , the Truste e , any Ag e nt
and the Company may de e m and tre at the P e rson in whose name any Note is re g iste re d as the absolute owne r of suc h
Note for the purpose of re c e iving payme nt of princ ipal of and inte re st on suc h Note s and for all othe r purpose s, and none
of the Truste e , any Ag e nt or the Company shall be affe c te d by notic e to the c ontrary.

(vi) The Trus te e shall authe ntic ate Global Note s and De nitive Note s in ac c ordanc e with the
provisions of Se c tion 2.0 2 he re of.

(vii) All c e rti c ations, c e rti c ate s and Opinions of Counse l re quire d to be submitte d to the Re g istrar
pursuant to this Se c tion 2.0 6 to e ffe c t a re g istration of transfe r o r e xc hang e may be submitte d by fac simile o r portable
doc ume nt format.

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 (viii) The Truste e is he re by authoriz e d to e nte r into a le tte r of re pre se ntation with the De positary in
the form provide d by the Company and to ac t in ac c ordanc e with suc h le tte r.

(ix) The Truste e shall have no oblig ation or duty to monitor, de te rmine or inquire as to c omplianc e
with any re stric tions on transfe r impose d unde r this Inde nture o r unde r applic able law with re spe c t to any transfe r of any
inte re st in any Note (inc luding any transfe rs be twe e n or among Partic ipants or be ne c ial owne rs of inte re sts in any Global
Note ) othe r than to re quire de live ry of suc h c e rti c ate s and othe r doc ume ntation o r e vide nc e as are e xpre ssly re quire d
by, and to do so if and whe n e xpre ssly re quire d by the te rms of, this Inde nture , and to e xamine the same to de te rmine
substantial c omplianc e as to form with the e xpre ss re quire me nts he re of.

Se c tion 2.0 7. Replac ement No tes .

If any mutilate d Note is surre nde re d to the Truste e or the Company and the Truste e re c e ive s e vide nc e to
its satisfac tion of the de struc tion, loss or the ft of any Note , the Company shall issue, and the Truste e , upon re c e ipt of an
Authe ntic ation Orde r , shall authe ntic ate, a re plac e me nt Note if the Truste e ’s re quire me nts are me t. If re quire d by the
Trus te e o r the Company , an inde mnity bond must be supplie d by the Holde r that is suf c ie nt in the judg me nt of the
Truste e and the Company to prote c t the Company , the Truste e , any Ag e nt and any authe ntic ating ag e nt from any loss
that any of the m may suffe r if a Note is re plac e d. The Company may c harg e for its e xpe nse s in re plac ing a Note .

Any re plac e me nt Note authe ntic ate d and de live re d pursuant to this Se c tion in lie u of a mutilate d, lost,
de stroye d or stole n Note shall be de e me d to e vide nc e the same De bt as the mutilate d, lost, de stroye d or stole n Note and
shall be e ntitle d to all of the be ne ts of this Inde nture e qually and proportionate ly with all othe r No te s duly issue d
he re unde r.

In c ase any suc h mutilate d, de stroye d, lost o r stole n Note had be c ome o r is about to be c ome due and
payable, the Company , in its disc re tion, may, inste ad of issuing a ne w Note , pay suc h No te upon satisfac tion of the
c onditions se t forth in the pre c e ding parag raph.

The provisions of this Se c tion 2.0 7 are e xc lusive and shall pre c lude (to the e xte nt lawful) all othe r rig hts
and re me die s of any Holde r with re spe c t to the re plac e me nt or payme nt of mutilate d, de stroye d, lost or stole n Note s .

Se c tion 2.0 8. Outstanding No tes .

(a) The Note s outstanding at any time are all the Note s authe ntic ate d by the Truste e e xc e pt for
those c anc e lle d by it, those de live re d to it for c anc e llation, those re duc tions in the inte re st in a Global Note e ffe c te d by the
Truste e in ac c ordanc e with the provisions he re of, and those de sc ribe d in this Se c tion 2.0 8 as not outstanding . Exc e pt as
se t forth in Se c tion 2.0 9 he re of, a Note doe s not c e ase to be outstanding be c ause the Company o r a n Af liate of the
Company holds the Note ; howe ve r, Note s he ld by the Company or a Subsidiary of the Company shall not be de e me d to
be outstanding for purpose s of Se c tion 3.0 7(c ) he re of.

(b) If a Note is re plac e d pursuant to Se c tion 2.0 7 he re of, it c e ase s to be outstanding unle ss the
Truste e re c e ive s proof satisfac tory to it that the re plac e d Note is he ld by a bona fide purc hase r.

(c ) If the princ ipal amount of any Note is c onside re d paid unde r Se c tion 4.0 1 he re of, it c e ase s to be
outstanding and inte re st on it c e ase s to ac c rue .

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 (d) If the Paying Ag e nt (othe r than the Company , a Subsidiary or an Af liate of any the re of) holds,
on a re de mption date o r maturity date, mone y suf c ie nt to pay Note s payable on that date, the n on and afte r that date
suc h Note s shall be de e me d to be no long e r outstanding and shall c e ase to ac c rue inte re st.

Se c tion 2.0 9. T reasury No tes .

In de te rmining whe the r the Holde rs of the re quire d princ ipal amount of No te s have c onc urre d in any
dire c tion, ame ndme nt, supple me nt, waive r or c onse nt, Note s owne d by the Company , or by any Affiliate of the Company
, shall be c onside re d as thoug h not outstanding , e xc e pt that for the purpose s of de te rmining whe the r the Truste e shall be
prote c te d in re lying on any suc h dire c tion, ame ndme nt, supple me nt, waive r o r c onse nt, only No te s that the Truste e
knows are so owne d shall be so disre g arde d.

Se c tion 2.10 . T empo rary No tes .

U ntil c e rtific ate s re pre se nting Note s are re ady for de live ry, the Company may pre pare, and the Truste e ,
upon re c e ipt of an Authe ntic ation Orde r , shall authe ntic ate , te mporary Note s . Te mporary Note s shall be substantially in
the form of c e rti c ate d Note s but may have variations that the Company c onside rs appropriate for te mporary Note s and
as shall be re asonably ac c e ptable to the Truste e . Without unre asonable de lay, the Company shall pre pare and the
Truste e shall authe ntic ate De finitive Note s in e xc hang e for te mporary Note s .

Holde rs of te mporary Note s shall be e ntitle d to all of the be ne fits of this Inde nture .

Se c tion 2.11. Canc ellatio n.

The Company at any time may de live r Note s to the Truste e for c anc e llation. The Re g istrar and Paying
Ag e nt shall forward to the Truste e any Note s surre nde re d to the m for re g istration of transfe r, e xc hang e or payme nt. The
Truste e , or at the dire c tion of the Truste e , the Re g istrar , or the Paying Ag e nt , upon dire c tion by the Company , and no
one e lse shall c anc e l all Note s surre nde re d for re g istration of transfe r, e xc hang e, payme nt, re plac e me nt o r c anc e llation
and shall dispose of suc h c anc e lle d Note s in ac c ordanc e with its c ustomary proc e dure s (subje c t to the re c ord re te ntion
re quire me nts of the Exc hang e Ac t ) o r re turn the m to the Company . Ce rti c ation of the de struc tion of all c anc e lle d
Note s shall be de live re d to the Company from time to time upon writte n re que st. The Company may not issue ne w Note s
to re plac e Note s that it has paid or that have be e n de live re d to the Truste e for c anc e llation.

Se c tion 2.12. P ayment o f Interest; Defaulted Interest.

Inte re st on any No te whic h is payable, and is punc tually paid o r duly pro vide d for, on any Inte re st
Payme nt Date shall be paid to the Pe rson in whose name that Note (or one or more Pre de c e ssor Note s ) is re g iste re d at
the c lose of busine ss on the Re g ular Re c ord Date for suc h inte re st payme nt.

If the Company de faults in a payme nt of inte re st on the Note s , it shall pay the de faulte d inte re st in any
lawful manne r plus, to the e xte nt lawful, inte re st payable on the de faulte d inte re st, to the P e rsons who are Holde rs on a
subse que nt spe c ial re c ord date, in e ac h c ase at the rate provide d in the Note s and in Se c tion 4.0 1 he re of. The Company
shall notify the Truste e in writing of the amount of de faulte d inte re st propose d to be paid on e ac h Note and the date of the
propose d payme nt. The Company shall fix or c ause to be xe d e ac h suc h spe c ial re c ord date and payme nt date, provided
that no suc h spe c ial re c ord date shall be le ss than 10 days prior to the re late d payme nt date for suc h de faulte d inte re st. At
le ast 15 days be fore the spe c ial re c ord date , the Company (or , upon the writte n re que st of the

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 Company , the Truste e in the name and at the e xpe nse of the Company ) shall mail or de live r o r c ause to
be maile d or de live re d to Holde rs a notic e that state s the spe c ial re c ord date, the re late d payme nt date and the amount of
suc h inte re st to be paid. Notwithstanding the fore g oing , the Company may make payme nt in c ash of any de faulte d
inte re st in any othe r lawful manne r not inc onsiste nt with the re quire me nts of any se c uritie s e xc hang e on whic h the Note s
may be liste d, and upon suc h notic e as may be re quire d by suc h e xc hang e .

Se c tion 2.13. CUSIP o r ISIN Numbers.

The Company in issuing the Note s may use “CU SIP” or “ISIN” numbe rs (if the n g e ne rally in use ), and,
if so, the Truste e shall use “CU SIP” or “ISIN” numbe rs in notic e s of re de mption as a c onve nie nc e to Holde rs ; provided ,
however, that any suc h notic e may state that no re pre se ntation is made as to the c orre c tne ss of suc h numbe rs e ithe r as
printe d on the Note s o r as c ontaine d in any notic e of a re de mption and that re lianc e may be plac e d only on the othe r
ide ntific ation numbe rs printe d on the Note s , and any suc h re de mption shall not be affe c te d by any de fe c t in or omission of
suc h numbe rs. The Company will promptly notify the Trus te e in writing of any c hang e in the “CU SIP” o r “ISIN”
numbe rs.

Se c tion 2.14. Issuanc e o f Additio nal No tes .

The Company shall be e ntitle d, subje c t to its c omplianc e with Se c tion 4.0 9 he re of, to issue Additional
Note s unde r this Inde nture whic h shall have ide ntic al te rms as the Initial Note s issue d on the date he re of, othe r than with
re spe c t to the date of issuanc e and issue pric e. The Initial Note s issue d on the date he re of and any Additional Note s shall
be tre ate d as a sing le c lass for all purpose s unde r this Inde nture , inc luding without limitation, waive rs, ame ndme nts,
re de mptions and offe rs to purc hase .

With re spe c t to any Additional Note s , the Co mpany shall se t forth in a re solution of its Board of
Dire c tors and an Offic e rs ’ Ce rtific ate , a c opy of e ac h whic h shall be de live re d to the Truste e , the following information:

(a) the ag g re g ate princ ipal amount of suc h Additional Note s to be authe ntic ate d and de live re d
pursuant to this Inde nture ;

(b) the issue pric e , the issue date and the CU SIP numbe r of suc h Additional Note s ; and

(c ) whe the r suc h Additional Note s shall be subje c t to re stric tions on transfe r.

ART ICLE 3.

REDEMP T ION AND P REP AYMENT

Se c tion 3.0 1. No tic es to T rustee .

If the Company e le c ts to re de e m Note s pursuant to the optional re de mption provisions of Se c tion 3.0 7
he re of and parag raph 5 of the Note s , it shall furnish to the Truste e , at le ast 30 days but not more than 60 days be fore a
re de mption date unle ss a shorte r notic e shall be satisfac tory to the Truste e , an Offic e rs ’ Ce rti c ate se tting forth (i) the
c lause of this Inde nture pursuant to whic h the re de mption shall oc c ur, (ii) the re de mption date, (iii) the princ ipal amount of
Note s to be re de e me d and (iv) the re de mption pric e . Any suc h notic e may be c anc e lle d at any time prior to notic e of suc h
re de mption be ing maile d or de live re d to any Holde r and shall, the re fore , be void and of no e ffe c t.

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 Se c tion 3.0 2. Selec tio n o f No tes to Be Redeemed.

If le ss than all of the Note s are to be re de e me d at any time, the Trus te e shall se le c t the No te s to be
re de e me d among the Holde rs of the Note s in c omplianc e with any applic able de positary and le g al re quire me nts and the
re quire me nts of the princ ipal national se c uritie s e xc hang e, if any, on whic h the Note s are liste d or , if the Note s are not so
liste d, on a pro rata basis, at random o r in ac c ordanc e with any othe r me thod the Trus te e c onside rs fair and
appropriate. In the e ve nt of partial re de mption at random, the partic ular Note s to be re de e me d shall be se le c te d, unle ss
othe rwise provide d he re in, not le ss than 30 nor more than 60 days prior to the re de mption date by the Truste e from the
outstanding Note s not pre viously c alle d for re de mption.

The Truste e shall promptly notify the Company in writing of the Note s se le c te d for re de mption and, in the
c ase of any Note se le c te d for partial re de mption, the princ ipal amount the re of to be re de e me d. Note s and portions of
Note s se le c te d shall be in amounts of U S$2,0 0 0 or whole multiple s of U S$1,0 0 0 in e xc e ss the re of, e xc e pt that if all of the
Note s of a Holde r are to be re de e me d, the e ntire outstanding amount of Note s he ld by suc h Holde r , e ve n if not a multiple
of U S$1,0 0 0 , shall be re de e me d. Exc e pt as provide d in the pre c e ding se nte nc e, provisions of this Inde nture that apply to
Note s c alle d for re de mption also apply to portions of Note s c alle d for re de mption.

Se c tion 3.0 3. No tic e o f Redemptio n.

At le ast 30 days but not more than 60 days be fore a re de mption date, the Company shall mail o r de live r,
o r c ause to be maile d o r de live re d, a notic e of re de mption to e ac h Holde r who s e No te s are to be re de e me d at its
re g iste re d addre ss.

The notic e shall ide ntify the Note s to be re de e me d and shall state :

(a) the re de mption date ;

(b) the re de mption pric e or if the re de mption is made pursuant to Se c tion 3.0 7(b) a c alc ulation of the
re de mption pric e ;

(c ) if any Note is be ing re de e me d in part, the portion of the princ ipal amount of suc h Note to be
re de e me d and that, afte r the re de mption date upon surre nde r of suc h Note , a ne w Note o r No te s in princ ipal
amount e qual to the unre de e me d portion shall be issue d upon c anc e llation of the orig inal Note ;

(d) the name and addre ss of the Paying Ag e nt ;

(e ) that No te s c alle d for re de mption must be surre nde re d to the Paying Ag e nt to c olle c t the
re de mption pric e ;

(f) that, unle ss the Company de faults in making suc h re de mption payme nt, inte re st on Note s c alle d
for re de mption c e ase s to ac c rue on and afte r the re de mption date ;

(g ) the parag raph of the Note s or Se c tion of this Inde nture pursuant to whic h the Note s c alle d for
re de mption are be ing re de e me d;

(h) in the c ase of a re de mption be ing made by a Re stric te d Subsidiary , the name of suc h Re stric te d
Subsidiary making the re de mption; and

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 (i) that no re pre se ntation is made as to the c orre c tne ss or ac c urac y of the CU SIP numbe r, if any,
liste d in suc h notic e or printe d on the Note s .

The Company shall, or , at the Company ’s re que st, the Truste e shall g ive the notic e of re de mption in the
Company ’s name and at its e xpe nse ; provided , however, that the Company shall have de live re d to the Truste e , at le ast 45
days, or suc h shorte r pe riod allowe d by the Truste e , prior to the re de mption date, an Offic e rs ’ Ce rti c ate re que sting that
the Truste e g ive suc h notic e and se tting forth the information to be state d in suc h notic e as provide d in this Se c tion 3.0 3.

Se c tion 3.0 4. Effec t o f No tic e o f Redemptio n.

Onc e notic e of re de mption is maile d o r de live re d in ac c ordanc e with Se c tion 3.0 3 he re of, No te s c alle d
for re de mption be c ome irre voc ably due and payable on the re de mption date at the re de mption pric e. A notic e of
re de mption may not be c onditional.

Se c tion 3.0 5. Depo sit o f Redemptio n P ric e.

O n o r be fore 11:0 0 a.m. Ne w York City time on any re de mption date, the Company shall de posit, or
c ause to be de posite d, with the Truste e o r with the Paying Ag e nt mone y suf c ie nt to pay the re de mption pric e of and
ac c rue d inte re st on all Note s (or portions of Note s ) to be re de e me d on that date. The Truste e or the Paying Ag e nt shall
promptly re turn to the Company any mone y de posite d with the Truste e or the Paying Ag e nt by the Company in e xc e ss of
the amounts ne c e ssary to pay the re de mption pric e of, and ac c rue d inte re st on all Note s to be re de e me d.

If the Company c omplie s with the provisions of the pre c e ding parag raph, on and afte r the re de mption
date, inte re st shall c e ase to ac c rue on the Note s o r the portions of No te s c alle d for re de mption, whe the r o r not suc h
Note s are pre se nte d for payme nt. If a Note is re de e me d on or afte r a Re g ular Re c ord Date but on or prior to the re late d
Inte re st Payme nt Date , the n any ac c rue d and unpaid inte re st shall be paid to the P e rson in whose name suc h Note was
re g iste re d at the c lose of busine ss on suc h Re g ular Re c ord Date . If any Note c alle d for re de mption shall not be so paid
upon surre nde r for re de mption be c ause of the failure of the Company to c omply with the pre c e ding parag raph, inte re st
shall be paid on the unpaid princ ipal from the re de mption date until suc h princ ipal is paid, and to the e xte nt lawful on any
inte re st not paid on suc h unpaid princ ipal, in e ac h c ase at the rate provide d in the Note s and in Se c tion 4.0 1 he re of.

Se c tion 3.0 6. No tes Redeemed in P art.

U pon surre nde r of a No te that is re de e me d in part, the Company shall issue and, upon re c e ipt of an
Authe ntic ation Orde r in ac c ordanc e with Se c tion 2.0 2 he re of, the Truste e shall authe ntic ate for the Holde r at the e xpe nse
of the Company a ne w Note e qual in princ ipal amount to the unre de e me d portion of the Note surre nde re d.

Se c tion 3.0 7. Optio nal Redemptio n.

(a) The Company may c hoose to re de e m the Note s at any time. If it doe s so, it may re de e m all or
any portion of the Note s at onc e or ove r time, afte r g iving the re quire d notic e he re unde r. To re de e m the Note s prior to
July 15, 20 18 the Company must pay a re de mption pric e e qual to the g re ate r of:

(i) 10 0 % of the princ ipal amount of the Note s to be re de e me d, and

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 (ii) the sum of the pre se nt value s of (1) the re de mption pric e of the Note s at July 15, 20 18 (as se t
forth be low) and (2) the re maining sc he dule d payme nts of inte re st from the re de mption date to July 15, 20 18 but
e xc luding ac c rue d and unpaid inte re st to the re de mption date, disc ounte d to the date of re de mption on a se mi-
annual basis (assuming a 360 -day ye ar c onsisting of twe lve 30 -day months), at the Tre asury Rate (de te rmine d on
the se c ond busine ss day imme diate ly pre c e ding the date of re de mption) plus 50 basis points,

plus, in e ithe r c ase, ac c rue d and unpaid inte re st to the re de mption date (subje c t to the rig ht of holde rs of re c ord on the
re le vant re c ord date to re c e ive inte re st due on the re le vant inte re st payme nt date ).

Any notic e to Holde rs o f No te s of suc h a re de mption will inc lude the appropriate c alc ulation of the
re de mption pric e, but ne e d not inc lude the re de mption pric e itse lf. The ac tual re de mption pric e, c alc ulate d as de sc ribe d
above, will be se t forth in an Offic e rs ’ Ce rti c ate de live re d to the Truste e no late r than two busine ss days prior to the
re de mption date (unle ss c lause (b) of the de nition of “Comparable Tre asury Pric e ” is applic able, in whic h c ase suc h
Offic e rs ’ Ce rtific ate shall be de live re d on the re de mption date ).

(b) Be g inning on July 15, 20 18, the Company may re de e m all or any portion of the Note s , at onc e
or ove r time, afte r g iving the re quire d notic e unde r this Inde nture , at the re de mption pric e s se t forth be low, plus ac c rue d
and unpaid inte re st on the Note s re de e me d to the applic able re de mption date (subje c t to the rig ht of Holde rs of re c ord on
the re le vant re c ord date to re c e ive inte re st due on the re le vant inte re st payme nt date ). The following pric e s are for Note s
re de e me d during the 12-month pe riod c omme nc ing on July 15 of the ye ars se t forth be low, and are e xpre sse d as
pe rc e ntag e s of princ ipal amount:

Re d e m p tio n Ye ar Pric e

20 18 10 4.313 %
20 19 10 2.875 %
20 20 10 1.438 %
20 21 and the re afte r 10 0 .0 0 0 %

(c ) In addition, at any time and from time to time, prior to July 15, 20 18, the Company may re de e m
up to a maximum of 35% of the ag g re g ate princ ipal amount of the Note s (inc luding Additional Note s ) with the proc e e ds
of one or more Quali e d Equity Issuanc e s , at a re de mption pric e e qual to 10 5.75% of the princ ipal amount the re of, plus
ac c rue d and unpaid inte re st the re on, to the re de mption date (subje c t to the rig ht of Holde rs of re c ord on the re le vant
re c ord date to re c e ive inte re st due on the re le vant inte re st payme nt date ); provided , however, that afte r g iving e ffe c t to
any suc h re de mption, at le ast 65% of the ag g re g ate princ ipal amount of the Note s (inc luding Additional Note s ) re mains
outstanding . Any suc h re de mption shall be made within 180 days of suc h Qualifie d Equity Issuanc e upon not le ss than 30
days’ nor more than 60 days’ prior notic e .

(d) The Company may at any time re de e m, in whole but not in part, the outstanding Note s (upon
g iving notic e in ac c ordanc e with this Inde nture , whic h notic e shall be irre voc able ) at a re de mption pric e of 10 0 % of the
princ ipal amount the re of, plus ac c rue d and unpaid inte re st to the date of re de mption, and all Additional Amounts (if any)
the n due and whic h will be c ome due on the date of re de mption as a re sult of the re de mption o r othe rwise, if on the ne xt
date on whic h any amount would be payable in re spe c t of the Note s , the Company has be c ome o r would be c ome
oblig ate d to pay any Additional Amounts in re spe c t of the Note s , and the Company c annot avoid any suc h payme nt
oblig ation by taking re asonable me asure s available to it, as a re sult of (i) any c hang e in o r ame ndme nt to the laws ( or
re g ulations promulg ate d the re unde r) of a re le vant Tax Jurisdic tion , or (ii) any c hang e in or ame ndme nt to

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any of c ial position ( inc luding an of c ial administrative ruling ) re g arding the applic ation or inte rpre tation of suc h laws or
re g ulations (inc luding a c hang e by virtue of a holding , judg me nt o r orde r by a c ourt of c ompe te nt jurisdic tion), whic h
c hang e or ame ndme nt is announc e d and be c ome s e ffe c tive on or afte r the Issue Date (or , if the applic able re le vant Tax
Jurisdic tion be c ame a Tax Jurisdic tion on a date afte r the Issue Date , suc h late r date ). Prior to the g iving of any notic e
of re de mption de sc ribe d in this Se c tion 3.0 7(d), the Company will de live r to the Trus te e a n Opinion of Counse l to the
e ffe c t that the Co mpany h a s o r will be c ome oblig ate d to pay suc h Additional Amounts as a re sult of a c hang e or
ame ndme nt de sc ribe d above .

(e ) Notwithstanding the fore g oing , the Company may e le c t to e ffe c t any re de mption pursuant to this
Se c tion 3.0 7 dire c tly or throug h a Re stric te d Subsidiary .

Se c tion 3.0 8. Mandato ry Redemptio n.

Exc e pt as se t forth in S e c tio ns 4.12 and 4.16 he re of, the Co mpany shall not be re quire d to make
mandatory re de mption or sinking fund payme nts with re spe c t to the Note s .

Se c tion 3.0 9. Offer T o P urc hase by Applic atio n o f Exc ess P ro c eeds .

(a) In the e ve nt that, pursuant to Se c tion 4.12 he re of, the Company shall be re quire d to c omme nc e
an offe r to all Holde rs to purc hase Note s (an “Asset Sale Offer”), it shall follow the proc e dure s spe c ifie d be low.

(b) The Asse t Sale Offe r shall re main ope n for a pe riod of 20 Busine ss Days following its
c omme nc e me nt and no long e r, e xc e pt to the e xte nt that a long e r pe riod is re quire d by applic able law (the “ Offer
Period”). No late r than ve Busine ss Days afte r the te rmination of the Offe r Pe riod (the “Purchase Date”), the Company
shall purc hase the princ ipal amount of No te s re quire d to be purc hase d pursuant to S e c tio n 4 . 1 2 he re o f (the “Offer
Amount” ) or , if le ss than the Offe r Amount has be e n te nde re d, all Note s te nde re d in re sponse to the Asse t Sale Offe r
. Payme nt for any Note s so purc hase d shall be made in the same manne r as inte re st payme nts are made .

If the Purc hase Date is on or afte r a Re g ular Re c ord Date and on or be fore the re late d Inte re st Payme nt
Date , any ac c rue d and unpaid inte re st shall be paid to the P e rson in whose name a Note is re g iste re d at the c lose of
busine ss on suc h Re g ular Re c ord Date , and no additional inte re st shall be payable to Holde rs who te nde r Note s pursuant
to the Asse t Sale Offe r .

U pon the c omme nc e me nt of the Asse t Sale Offe r , the Company shall de live r a notic e to the Truste e and
e ac h of the Holde rs . The notic e shall c ontain all instruc tions and mate rials ne c e ssary to e nable suc h Holde rs to te nde r
Note s pursuant to the Asse t Sale Offe r . The Asse t Sale Offe r shall be made to all Holde rs . The notic e, whic h shall
g ove rn the te rms of the Asse t Sale Offe r , shall state :

(i) that the Asse t Sale Offe r is be ing made pursuant to this Se c tion 3.0 9 and Se c tion 4.12 he re of and
the le ng th of time the Asse t Sale Offe r shall re main ope n;

(ii) the Offe r Amount , the purc hase pric e and the Purc hase Date ;

(iii) that any Note not te nde re d or ac c e pte d for payme nt shall c ontinue to ac c rue inte re st;

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 (iv) that, unle ss the Company de faults in making suc h payme nt, any No te ac c e pte d for payme nt
pursuant to the Asse t Sale Offe r shall c e ase to ac c rue inte re st afte r the Purc hase Date ;

(v) that Holde rs e le c ting to have a Note purc hase d pursuant to an Asse t Sale Offe r may e le c t to
have Note s purc hase d in amounts of U S$2,0 0 0 or inte g ral multiple s of U S$1,0 0 0 in e xc e ss the re of;

(vi) that Holde rs e le c ting to have a Note purc hase d pursuant to any Asse t Sale Offe r shall be re quire d
to surre nde r the Note , with the form e ntitle d “Option of Holde r to Ele c t Purc hase ” on the re ve rse of the Note
c omple te d, or transfe r by book-e ntry transfe r, to the Company , a de positary, if appointe d by the Company , o r a
Paying Ag e nt at the addre ss spe c ifie d in the notic e at le ast thre e days be fore the Purc hase Date ;

(vii) that Holde rs shall be e ntitle d to withdraw the ir e le c tion if the Company , the De positary o r the
Paying Ag e nt , as the c ase may be, re c e ive s, not late r than the e xpiration of the Offe r Pe riod , a te le g ram,
fac simile transmission or le tte r se tting forth the name of the Holde r , the princ ipal amount of the Note the Holde r
de live re d for purc hase and a state me nt that suc h Holde r is withdrawing his e le c tion to have suc h Note purc hase d;

(viii) that, if the ag g re g ate princ ipal amount of No te s surre nde re d by Holde rs e xc e e ds the Offe r
Amount , the Company shall se le c t the Note s to be purc hase d on a pro rata basis (with suc h adjustme nts as may
be de e me d appropriate by the Company so that only Note s in de nominations of U S$2,0 0 0 or inte g ral multiple s of
U S$1,0 0 0 in e xc e ss the re of shall be purc hase d); and

(ix) that Holde rs who s e No te s we re purc hase d only in part shall be issue d ne w No te s e qual in
princ ipal amount to the unpurc hase d portion of the Note s surre nde re d (or transfe rre d by book-e ntry transfe r).

On or be fore the Purc hase Date , the Company shall, to the e xte nt lawful, ac c e pt for payme nt, on a pro
rata basis to the e xte nt ne c e ssary, the Offe r Amount o f Note s o r portions the re of te nde re d pursuant to the Asse t Sale
Offe r , or if le ss than the Offe r Amount has be e n te nde re d, all Note s te nde re d, and shall de live r to the Truste e an Offic e rs ’
Ce rtific ate stating that suc h Note s or portions the re of we re ac c e pte d for payme nt by the Company in ac c ordanc e with the
te rms of this Se c tion 3.0 9. The Company , the De positary or the Paying Ag e nt , as the c ase may be, shall promptly (but
in any c ase not late r than ve Busine ss Days afte r the Purc hase Date ) mail o r de live r to e ac h te nde ring Ho lde r an
amount e qual to the purc hase pric e of the Note s te nde re d by suc h Holde r and ac c e pte d by the Company for purc hase,
and the Co mpany shall promptly issue a ne w Note , and the Truste e , upon re c e ipt of an Authe ntic ation Orde r in
ac c ordanc e with Se c tion 2.0 2 he re of from the Company , shall authe ntic ate and mail o r de live r suc h ne w No te to suc h
Holde r , in a princ ipal amount e qual to any unpurc hase d portion of the Note surre nde re d. Any Note not so ac c e pte d shall
be promptly maile d or de live re d by the Company to the Holde r the re of. The Company shall public ly announc e the re sults
of the Asse t Sale Offe r on the Purc hase Date .

Othe r than as spe c i c ally provide d in this Se c tion 3.0 9, any purc hase pursuant to this Se c tion 3.0 9 shall
be made pursuant to the provisions of Se c tion 3.0 1 throug h Se c tion 3.0 6 he re of.

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 ART ICLE 4 .

COVENANT S

Se c tion 4.0 1. P ayment o f No tes .

The Company shall pay or c ause to be paid the princ ipal of, pre mium, if any, and inte re st on the Note s on
the date s and in the manne r provide d in the Note s . Princ ipal, pre mium, if any, and inte re st shall be c onside re d paid on the
date due if the Paying Ag e nt , if othe r than the Company o r a Subsidiary the re of, holds as of 11:0 0 a.m. Ne w York City
Time on the due date mone y de posite d by the Company in imme diate ly available funds and de sig nate d for and suf c ie nt to
pay all princ ipal, pre mium, if any, and inte re st the n due .

The Company shall pay inte re st (inc luding post-pe tition inte re st on any proc e e ding unde r any Bankruptc y
Law ) on ove rdue princ ipal and pre mium, if any, from time to time on de mand at a rate that is 1% pe r annum in e xc e ss of
the rate the n in e ffe c t; it shall pay inte re st ( inc luding post-pe tition inte re st on any proc e e ding unde r any Bankruptc y Law )
on ove rdue installme nts of inte re st (without re g ard to any applic able g rac e pe riods) from time to time on de mand at the
same rate to the e xte nt lawful.

Inte re st shall be c ompute d on the basis of a 360 -day ye ar of twe lve 30 -day months.

Se c tion 4.0 2. Maintenanc e o f Offic e o r Ag enc y.

(a) The Company shall maintain an of c e or ag e nc y (whic h may be an of c e o r drop fac ility of the
Trus te e o r an af liate of the Truste e , Re g istrar o r c o-re g istrar) whe re No te s may be pre se nte d o r surre nde re d for
re g istration of transfe r or for e xc hang e and whe re notic e s and de mands to or upon the Company in re spe c t of the Note s
and this Inde nture may be se rve d. The Company shall g ive prompt writte n notic e to the Truste e of the loc ation, and any
c hang e in the loc ation, of suc h of c e or ag e nc y. If at any time the Company shall fail to maintain any suc h re quire d of c e
o r ag e nc y o r shall fail to furnish the Trus te e with the addre ss the re of, suc h pre se ntations, surre nde rs, notic e s and
de mands may be made or se rve d at the Corporate Trust Administration of the Truste e , and the Company he re by appoints
the Truste e as its ag e nt to re c e ive all suc h pre se ntations, surre nde rs, notic e s and de mands.

(b) The Company may also from time to time de sig nate one o r more othe r of c e s o r ag e nc ie s
whe re the Note s may be pre se nte d o r surre nde re d for any o r all suc h purpose s and may from time to time re sc ind suc h
de sig nations. The Company shall g ive prompt writte n notic e to the Truste e of any suc h de sig nation o r re sc ission and of
any c hang e in the loc ation of any suc h othe r offic e or ag e nc y.

(c ) The Company he re by de sig nate s the Corporate Trust Administration of the Truste e , as one
suc h offic e , drop fac ility or ag e nc y of the Company in ac c ordanc e with Se c tion 2.0 3.

Se c tion 4.0 3. Repo rts.

(a) The Company shall de live r to the Truste e no late r than fte e n (15) c ale ndar days afte r the time
suc h re port is re quire d to be le d with the Commission pursuant to the Exc hang e Ac t (inc luding , without limitation, to the
e xte nt applic able, any e xte nsion pe rmitte d by Rule 12b-25 unde r the Exc hang e Ac t ), a c opy of e ac h re port the Company
is re quire d to le or othe rwise le s with the Commission pursuant to Se c tion 13 or 15(d) of the Exc hang e Ac t ; provided ,
however, that the Company shall not be re quire d to de live r to the Truste e any mate rial for whic h the Company has soug ht
and obtaine d c on de ntial tre atme nt by the Commission ; provided further, e ac h suc h re port will be de e me d to be so
de live re d to the Truste e if the Company file s suc h re port with the Commission throug h the

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Commission’s EDGAR database. In the e ve nt the Company is at any time while any Note s are outstanding no long e r
subje c t to the re porting re quire me nts of Se c tion 1 3 o r Se c tion 15(d) of the Exc hang e Ac t and no long e r le s re ports
the re unde r, the Company shall c ontinue to provide to the Truste e and, upon re que st, to e ac h Holde r , no late r than fte e n
(15) c ale ndar days afte r the date the Company would have be e n re quire d to le the same with the Commission , the
re ports the Company would have be e n re quire d to le with the Commission pursuant to Se c tion 13 o r 15(d) of the
Exc hang e Ac t if the Company we re subje c t to the re porting re quire me nts of suc h se c tions. The Company also shall
c omply with the othe r provisions of TIA § 314(a).

(b) For so long as any Note s re main outstanding and the Company doe s not have or shall c e ase to
have a c lass of e quity se c uritie s re g iste re d unde r Se c tion 12(g ) of the Exc hang e Ac t or is not or shall c e ase to be subje c t
to Se c tion 15(d) of the Exc hang e Ac t and no long e r le s re ports the re unde r, the Company shall furnish to the Holde rs ,
upon the ir re que st, the information re quire d to be de live re d pursuant to Rule 144A (d)(4) unde r the Se c uritie s Ac t ;
provided that e ac h suc h re port re que ste d will be de e me d de live re d if the Company le s suc h re port with the Commission
throug h the Commission’s EDGAR database .

(c ) De live ry of the se re ports, information and doc ume nts to the Trus te e is for informational
purpose s only and the Truste e ’s re c e ipt of suc h shall not c onstitute c onstruc tive notic e of any information c ontaine d
the re in o r de te rminable from information c ontaine d the re in, inc luding t h e Company ’s c omplianc e with any of its
c ove nants he re unde r (as to whic h the Truste e is e ntitle d to re ly e xc lusive ly on Offic e rs ’ Ce rti c ate s). The Truste e shall
not have any re sponsibility to de te rmine whe the r suc h posting of re ports with the Commission has oc c urre d.

Se c tion 4.0 4. Co mplianc e Certific ate.

(a) The Company shall de live r to the Truste e , within 120 days afte r the e nd of e ac h sc al ye ar, an
Offic e rs ’ Ce rti c ate (whic h shall be sig ne d by the princ ipal e xe c utive, nanc ial o r ac c ounting of c e r of the Company )
stating that in the c ourse of pe rforming the ir dutie s as Offic e rs of the Company a re vie w of the ac tivitie s of the Company
and its Subsidiarie s during the pre c e ding sc al ye ar has be e n made unde r the supe rvision of the sig ning Of c e rs with a
vie w to de te rmining whe the r the Co mpany and its Subs idiarie s have ke pt, obse rve d, pe rforme d and ful lle d the ir
oblig ations unde r this Inde nture , and furthe r stating , as to e ac h suc h Offic e r sig ning suc h c e rti c ate, that to the be st of his
o r he r knowle dg e the Company and its Subsidiarie s are not in de fault in the pe rformanc e o r obse rvanc e of any of the
te rms, provisions and c onditions of this Inde nture (or , if a De fault or Eve nt of De fault shall have oc c urre d, de sc ribing all
s uc h De faults o r Eve nts of De fault of whic h he o r she may have knowle dg e and what ac tion the Company is taking or
propose s to take with re spe c t the re to) and that to the be st of his or he r knowle dg e no e ve nt has oc c urre d and re mains in
e xiste nc e by re ason of whic h payme nts on ac c ount of the princ ipal of or inte re st on the Note s is prohibite d or if suc h e ve nt
has oc c urre d, a de sc ription of the e ve nt and what ac tion the Company is taking or propose s to take with re spe c t the re to.

(b) The Company shall c omply with TIA § 314(a)(2).

(c ) The Company shall promptly de live r to the Truste e , afte r be c oming aware of the oc c urre nc e
the re of, writte n notic e in the form of an Offic e rs ’ Ce rtific ate of any e ve nt that with the g iving of notic e or the lapse of time
(or both) would be c ome an Eve nt of De fault , its status and what ac tion the Company is taking o r propose s to take with
re spe c t the re to; provided , however, that no notic e ne e d be de live re d unde r this Se c tion 4.0 4(c ) if the e ve nt that with the
g iving of notic e and the lapse of time would be c ome an Eve nt of De fault has be e n c ure d prior to the time de live ry of
notic e would have othe rwise be e n re quire d.

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 Se c tion 4.0 5. T axes .

T he Co mpany shall pay o r disc harg e, and shall c ause e ac h of its Re stric te d Subsidiarie s to pay or
disc harg e, prior to de linque nc y, all mate rial taxe s, asse ssme nts, and g ove rnme ntal le vie s; provided that ne ithe r the
Company nor any suc h Re stric te d Subsidiary shall be re quire d to pay or disc harg e , or c ause to be paid or disc harg e d, any
suc h tax, asse ssme nt, c harg e o r c laim the amount, applic ability o r validity of whic h is be ing c onte ste d in g ood faith by
appropriate proc e e ding s and for whic h ade quate re se rve s have be e n e stablishe d in ac c ordanc e with GAAP o r whe re the
failure to e ffe c t suc h payme nt is not adve rse in any mate rial re spe c t to the Holde rs , unle ss de spite suc h c onte station, the
Company o r any of its Re stric te d Subsidiarie s is none the le ss re quire d to pay suc h taxe s, asse ssme nts, o r g ove rnme ntal
le vie s unde r applic able law.

Se c tion 4.0 6. Stay, Extensio n and Usury Laws.

The Company c ove nants (to the e xte nt that it may lawfully do so) that it shall not at any time insist upon,
ple ad, or in any manne r whatsoe ve r c laim or take the be ne t or advantag e of, any stay, e xte nsion o r usury law whe re ve r
e nac te d, now or at any time he re afte r in forc e, that may affe c t the c ove nants o r the pe rformanc e of this Inde nture ; and
the Company (to the e xte nt that it may lawfully do so) he re by e xpre ssly waive s all be ne t o r advantag e of any suc h law,
and c ove nants that it shall not, by re sort to any suc h law, hinde r, de lay o r impe de the e xe c ution of any powe r he re in
g rante d to the Truste e , but shall suffe r and pe rmit the e xe c ution of e ve ry suc h powe r as thoug h no suc h law has be e n
e nac te d.

Se c tion 4.0 7. Co rpo rate Existenc e.

Subje c t to Artic le 5 he re of, the Company shall do o r c ause to be done all thing s ne c e ssary to pre se rve
and ke e p in full forc e and e ffe c t (i) its c orporate e xiste nc e, and the c orporate, partne rship or othe r e xiste nc e of e ac h of its
Re stric te d Subsidiarie s , in ac c ordanc e with the re spe c tive org aniz ational doc ume nts (as the same may be ame nde d from
time to time ) of the Company o r any suc h Re stric te d Subsidiary and (ii) the rig hts (c harte r and statutory), lic e nse s and
franc hise s of the Company and its Re stric te d Subsidiarie s ; provided , however, that the Company shall not be re quire d to
pre se rve any suc h rig ht, lic e nse o r franc hise, o r the c orporate, partne rship o r othe r e xiste nc e of any of its Re stric te d
Subsidiarie s , if the Board of Dire c tors of the Company shall de te rmine that the pre se rvation the re of is no long e r de sirable
in the c onduc t of the busine ss of the Company and its Re stric te d Subsidiarie s , take n as a whole, and that the loss the re of
is not mate rially adve rse to the Holde rs of the Note s or suc h ac tion is othe rwise pe rmitte d by this Inde nture .

Se c tion 4.0 8. P ayments fo r Co nsent.

The Company will not, and will not pe rmit any of its Subsidiarie s to, dire c tly or indire c tly, pay o r c ause to
be paid any c onside ration, whe the r by way of inte re st, fe e o r othe rwise, to any Holde r fo r o r as an induc e me nt to any
c onse nt, waive r or ame ndme nt of any of the te rms or provisions of this Inde nture or the Note s unle ss suc h c onside ration
is offe re d to be paid o r is paid to all Holde rs that c onse nt, waive o r ag re e to ame nd in the time frame se t forth in the
solic itation doc ume nts re lating to suc h c onse nt, waive r or ag re e me nt.

Se c tion 4.0 9. Limitatio n o n Debt .

(a) The Company shall not, and shall not pe rmit any Re stric te d Subsidiary to , Inc ur, dire c tly or
indire c tly, any De bt unle ss, afte r g iving e ffe c t to the applic ation of the proc e e ds the re of, no De fault o r Eve nt of De fault
would oc c ur as a c onse que nc e of suc h Inc urre nc e or be c ontinuing following suc h Inc urre nc e and e ithe r:

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 (i) suc h De bt is De bt of the Company o r a Re stric te d Subsidiary and afte r g iving e ffe c t to the
Inc urre nc e of suc h De bt and the applic ation of the proc e e ds the re of, the Consolidate d Inte re st Cove rag e Ratio
would be g re ate r than 2.0 0 to 1.0 0 ; provided that Re stric te d Subsidiarie s that are not Subsidiary Guarantors may
inc ur De bt to the e xte nt De bt inc urre d and outstanding unde r this c lause (i) doe s not e xc e e d $10 0 .0 million, or

(ii) suc h De bt is Pe rmitte d De bt .

(b) The te rm “Permitted Debt” me ans:

(i) (1) De bt of the Company e vide nc e d by the Initial Note s and (2) D e bt of the Subsidiary
Guarantors e vide nc e d by the Subsidiary Guarante e s re lating to the Initial Note s ;

( ii) De bt of the Company , a Subsidiary Guarantor o r a Fore ig n Subsidiary that is a Re stric te d

Subsidiary , in e ac h c ase unde r a Cre dit Fac ility ; provided that, afte r g iving e ffe c t to any suc h Inc urre nc e , the
ag g re g ate princ ipal amount of all De bt Inc urre d pursuant to this c lause (ii) and the n outstanding shall not e xc e e d
the g re ate st of (i) $1,0 0 0 .0 million, whic h amount shall be pe rmane ntly re duc e d by the amount of Ne t Available
Cash use d to Re pay De bt unde r the Cre dit Fac ility , and not subse que ntly re inve ste d in Additional Asse ts o r use d
to purc hase Note s or Re pay othe r De bt , pursuant to Se c tion 4.12 he re of, (ii) an ag g re g ate amount e qual to (x)
the ag g re g ate amount of EBITDA for the most re c e nt four c onse c utive sc al quarte rs for whic h nanc ial
state me nts are public ly available prior to the date of suc h inc urre nc e multiplie d by (y) 3.50 and (iii) the sum of (A)
60 % of the book value of the inve ntory of the Company and its Re stric te d Subsidiarie s , (B) 80 % of the book
value of the ac c ounts re c e ivable of the Company and its Re stric te d Subsidiarie s , and (C) $250 .0 million, in e ac h
c ase de te rmine d on a c onsolidate d basis as of the most re c e ntly e nde d annual or quarte rly pe riod of the Company
for whic h financ ial state me nts of the Company are public ly available ;

( iii) De bt of the Company o r a Re stric te d Subsidiary in re spe c t of Capital Le ase Oblig ations ,
Purc hase Mone y De bt or Sale and Le ase bac k Transac tions , provided that:

(A) the ag g re g ate princ ipal amount of suc h De bt doe s not e xc e e d the Fair Marke t Value (on
the date of the Inc urre nc e the re of) of the Prope rty ac quire d, c onstruc te d, le ase d or sold, and

(B) the ag g re g ate princ ipal amount of all De bt Inc urre d and the n outstanding pursuant to
this c lause (iii) (tog e the r with all Pe rmitte d Re nanc ing De bt Inc urre d and the n outstanding in re spe c t of
De bt pre viously Inc urre d pursuant to this c lause (iii)) doe s not e xc e e d the g re ate r of (x) $150 .0 million
and (y) 7.5% of Consolidate d Ne t Tang ible Asse ts ;

( iv ) De bt of the Company owing to and he ld by any Re stric te d Subsidiary and De bt of a Re stric te d

Subsidiary owing to and he ld by the Company or any Re stric te d Subsidiary ; provided that if the Company o r any
Subsidiary Guarantor is the oblig or on any suc h De bt Inc urre d afte r the Issue Date , the n suc h De bt is e xpre ssly
subordinate d by its te rms to the prior payme nt in full in c ash of the Note s o r the Subsidiary Guarante e s , as the
c ase may be ; provided further, however, that any subse que nt issue or transfe r of Capital Stoc k o r othe r e ve nt that
re sults in any suc h Re stric te d Subsidiary c e asing to be a Re stric te d Subsidiary or any subse que nt transfe r of any
suc h De bt (e xc e pt to the Company o r a Re stric te d Subsidiary ) shall be de e me d, in e ac h c ase, to c onstitute the
Inc urre nc e of suc h De bt by the issue r the re of;

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 (v) De bt unde r Inte re st Rate Ag re e me nts e nte re d into by the Company or a Re stric te d Subsidiary for
the purpose of limiting inte re st rate risk in the ordinary c ourse of the nanc ial manag e me nt of the Company or
suc h Re stric te d Subsidiary and not for spe c ulative purpose s, provided that the oblig ations unde r suc h ag re e me nts
are dire c tly re late d to payme nt oblig ations on De bt othe rwise pe rmitte d by this Se c tion 4.0 9;

( v i) De bt unde r Curre nc y Exc hang e Prote c tion Ag re e me nts e nte re d into by the Company o r a
Re stric te d Subsidiary for the purpose of limiting c urre nc y e xc hang e rate risks dire c tly re late d to transac tions
e nte re d into by the Co mpany o r s uc h Re stric te d Subsidiary in the ordinary c ourse of busine ss and not for
spe c ulative purpose s;

( v ii) De bt unde r Commodity Pric e Prote c tion Ag re e me nts e nte re d into by the Co mpany o r a
Re stric te d Subsidiary in the ordinary c ourse of the nanc ial manag e me nt of the Company o r s uc h Re stric te d
Subsidiary and not for spe c ulative purpose s;

(viii) De bt in c onne c tion with one or more standby le tte rs of c re dit or pe rformanc e bonds issue d by the
Company or a Re stric te d Subsidiary in the ordinary c ourse of busine ss o r pursuant to se lf-insuranc e oblig ations
and not in c onne c tion with the borrowing of mone y or the obtaining of advanc e s or c re dit;

( ix ) De bt of the Company o r a Re stric te d Subsidiary outstanding on the Issue Date not othe rwise
de sc ribe d in c lause s (b)(i) throug h (viii) above ;

(x) De bt of a Re stric te d Subsidiary outstanding on the date on whic h suc h Re stric te d Subsidiary was
ac quire d by the Co mpa ny o r othe rwise be c ame a Re stric te d Subsidiary (othe r than D e b t Inc urre d as
c onside ration in, o r to provide all o r any portion of the funds o r c re dit support utiliz e d to c onsummate, the
transac tion o r se rie s of transac tions pursuant to whic h suc h Re stric te d Subsidiary be c ame a Subsidiary of the
Company or was othe rwise ac quire d by the Company ) ; provided that at the time suc h Re stric te d Subsidiary was
ac quire d by the Company o r othe rwise be c ame a Re stric te d Subsidiary and afte r g iving pro forma e ffe c t to the
Inc urre nc e of suc h De bt and the applic ation of proc e e ds the re from, (i) the Company would have be e n able to
Inc ur $1.0 0 of additional De bt pursuant to c lause (a)(i) of this Se c tion 4.0 9 o r (ii) the Consolidate d Inte re st
Cove rag e Ratio would be e qual to or g re ate r than suc h ratio imme diate ly prior to suc h transac tion;

( x i ) De bt of the Co mpany o r a Re stric te d Subsidiary arising from ag re e me nts providing for

inde mni c ation, adjustme nt of purc hase pric e, e arn-out o r othe r similar oblig ations, in e ac h c ase, inc urre d or
assume d in c onne c tion with the disposition of any busine ss, asse ts o r Subs idiary of the Co mpany othe rwise
pe rmitte d by and in ac c ordanc e with the provisions of this Inde nture ;

( xii) De bt of the Company o r a Re stric te d Subsidiary e vide nc e d by promissory note s issue d to

e mploye e s, forme r e mploye e s, dire c tors or forme r dire c tors of the Company or any of its Re stric te d Subsidiarie s
in lie u of any c ash payme nt pe rmitte d to be made unde r Se c tion 4.10 (b)(vi) he re of;

( x iii) Guarante e s by the Company o r a ny Re stric te d Subsidiary o f De bt of the Company o r any

Re stric te d Subsidiary that the Co mpany o r t h e Re stric te d Subsidiary making suc h Guarante e is othe rwise
pe rmitte d unde r this Inde nture a n d Guarante e s by the Co mpany o r a ny Re stric te d Subsidiary o f D e bt of a
Pe rmitte d Joint Ve nture c onstituting a Pe rmitte d Inve stme nt pursuant to c lause (p) of suc h de finition;

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 ( x iv ) De bt of the Company or a Re stric te d Subsidiary arising from the honoring of a c he c k, draft or
similar instrume nt drawn ag ainst insuf c ie nt funds, provided s uc h De bt is e xting uishe d within ve Busine ss Days
of the Company or Re stric te d Subsidiary re c e iving notic e ;

(xv) De bt c onsisting of take -or -pay oblig ations c ontaine d in supply ag re e me nts e nte re d into in the
ordinary c ourse of busine ss;

(xvi) De bt of the Company or a Re stric te d Subsidiary in an ag g re g ate princ ipal amount outstanding at
any one time not to e xc e e d the g re ate r of (x) $150 .0 million and (y) 6.0 % of Consolidate d Ne t Tang ible Asse ts ;

(xvii) Pe rmitte d Re financ ing De bt Inc urre d in re spe c t of De bt Inc urre d pursuant to c lause (a)(i) of this
Se c tion 4.0 9 and c lause s (b)(i), (ix) and (x) above ; provided , however, that in the c ase of any D e bt of the
Company owing to and he ld by any Re stric te d Subsidiary and De bt of a Re stric te d Subsidiary owing to and he ld
by the Company or any Re stric te d Subsidiary Inc urre d pursuant to Se c tion 4.0 9(b)(ix) he re of, the oblig e e of suc h
Pe rmitte d Re financ ing De bt shall be e ithe r the Company or a Re stric te d Subsidiary or if the orig inal oblig e e of the
D e bt be ing Re nanc e d was the Co mpany o r a Subsidiary Guarantor the n the oblig e e of suc h Pe rmitte d
Re financ ing De bt shall be e ithe r the Company or a Subsidiary Guarantor ; and

(xviii) De bt in c onne c tion with a Qualifie d Re c e ivable s Transac tion .

(c ) Notwithstanding anything to the c ontrary c ontaine d in this Se c tion 4.0 9, ac c rual of inte re st,
ac c re tion or amortiz ation of orig inal issue disc ount and the payme nt of inte re st or divide nds in the form of additional De bt
will be de e me d not to be an Inc urre nc e of De bt for purpose s of this Se c tion 4.0 9.

(d) For purpose s of de te rmining c omplianc e with this Se c tion 4.0 9, in the e ve nt that an ite m of De bt
me e ts the c rite ria of more than one of the c ate g orie s of Pe rmitte d De bt de sc ribe d in c lause s (b)(i) throug h (xviii) of this
Se c tion 4.0 9 o r is e ntitle d to be inc urre d (for avoidanc e of doubt, in whole o r in part) pursuant to c lause (a)(i) of this
Se c tion 4.0 9, the Company shall, in its sole disc re tion, c lassify in whole o r in part (o r late r re c lassify in whole o r in part)
suc h ite m of De bt in any manne r that c omplie s with this Se c tion 4.0 9.

(e ) For purpose s of de te rmining c omplianc e with any Canadian dollar de nominate d re stric tion or
amount, the Canadian dollar e quivale nt princ ipal amount the re of de nominate d in a fore ig n c urre nc y will be c alc ulate d
base d on the re le vant c urre nc y e xc hang e rate in e ffe c t on the date the De bt or othe r transac tion was inc urre d o r e nte re d
into, or rst c ommitte d, in the c ase of re volving c re dit de bt, provided that if any Pe rmitte d Re nanc ing De bt is inc urre d to
re nanc e De bt de nominate d in a fore ig n c urre nc y, and suc h re nanc ing would c ause the applic able Canadian dollar-
de nominate d re stric tion to be e xc e e de d if c alc ulate d at the re le vant c urre nc y e xc hang e rate in e ffe c t on the date of suc h
re nanc ing , suc h Canadian dollar-de nominate d re stric tion will be de e me d not to have be e n e xc e e de d so long as the
princ ipal amount of suc h Pe rmitte d Re nanc ing De bt doe s not e xc e e d the princ ipal amount of suc h D e bt be ing
re nanc e d. Notwithstanding any othe r provision in this Inde nture , no re stric tion o r amount will be de e me d to be
e xc e e de d sole ly as a re sult of fluc tuations in the e xc hang e rate of c urre nc ie s.

Se c tion 4.10 . Limitatio n o n Restric ted P ayments .

(a) The Company shall not make, and shall not pe rmit any Re stric te d Subsidiary to make, dire c tly or
indire c tly, any Re stric te d Payme nt if at the time of, and afte r g iving e ffe c t to, suc h propose d Re stric te d Payme nt ,

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 (i) a De fault or Eve nt of De fault shall have oc c urre d and be c ontinuing ,

(ii) the Company c ould not Inc ur at le ast $1.0 0 of additional De bt pursuant to c lause (a)(i) of Se c tion
4.0 9 he re of, and

(iii) the ag g re g ate amount of suc h Re stric te d Payme nt and all othe r Re stric te d Payme nts de c lare d
o r made sinc e the Issue Date (the amount of any Re stric te d Payme nt , if made othe r than in c ash, to be base d
upon Fair Marke t Value at the time of suc h Re stric te d Payme nt ) would e xc e e d an amount e qual to the sum of:

(A) 50 % of the ag g re g ate amount of Consolidate d Ne t Inc ome ac c rue d during the pe riod
(tre ate d as one ac c ounting pe riod) from July 1, 20 14 to the e nd of the most re c e nt annual o r quarte rly
pe riod for whic h nanc ial state me nts have be e n made public ly available ( o r if the ag g re g ate amount of
Consolidate d Ne t Inc ome for suc h pe riod shall be a de fic it, minus 10 0 % of suc h de fic it), plus

(B) 10 0 % of Capital Stoc k Sale Proc e e ds , plus

(C) the sum of:

(1) the ag g re g ate ne t c ash proc e e ds re c e ive d by the Company o r a ny Re stric te d

Subsidiary from the issuanc e o r sale afte r the Issue Date of c onve rtible o r e xc hang e able De bt
that has be e n c onve rte d into o r e xc hang e d for Capital Stoc k (othe r than Disquali e d Stoc k) of
the Company , and

(2) the ag g re g ate amount by whic h De bt (othe r than Subordinate d Oblig ations) of
the Company o r any Re stric te d Subsidiary is re duc e d on the Company ’s c onsolidate d balanc e
she e t on or afte r the Issue Date upon the c onve rsion or e xc hang e of any De bt issue d o r sold on
o r prior to the Issue Date that is c onve rtible o r e xc hang e able for Capital Stoc k (othe r than
Disqualifie d Stoc k) of the Company ,

e xc luding , in the c ase of c lause (1) or (2):

(x) any suc h De bt issue d or sold to the Company or a Subsidiary of the Company or
an e mploye e stoc k owne rship plan o r trust e stablishe d by the Company o r any suc h Subsidiary
for the be ne fit of the ir e mploye e s, and

(y) the ag g re g ate amount of any c ash o r o the r P ro pe rty distribute d by the
Company or any Re stric te d Subsidiary upon any suc h c onve rsion or e xc hang e , plus

(D) an amount e qual to the sum of:

(1) the ne t re duc tion in Inve stme nts in any P e rson othe r than the Company o r a
Re stric te d Subsidiary re sulting from divide nds, re payme nts, forg ive ne ss or c anc e llation of loans
o r advanc e s o r othe r transfe rs of Prope rty , in e ac h c ase to the Company o r a ny Re stric te d
Subsidiary from suc h Pe rson ,

(2) the portion (proportionate to the Company ’s e quity inte re st in suc h U nre stric te d
Subsidiary) of the Fair Marke t Value of the ne t asse ts of an

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 U nre stric te d Subsidiary at the time suc h U nre stric te d Subsidiary is de sig nate d a Re stric te d
Subsidiary , and

(3) to the e xte nt that any Inve stme nt (othe r than a Pe rmitte d Inve stme nt ) that was
made afte r the Issue Date is sold for c ash o r othe rwise liquidate d o r re paid for c ash, the c ash
re turn of c apital with re spe c t to suc h Inve stme nt (le ss the c ost of disposition , if any), plus

(E) $50 .0 million.

(b) Notwithstanding the fore g oing limitation, the Co mpany a n d Re stric te d Subsidiarie s , as
applic able , may:

(i) pay divide nds or distributions on its Capital Stoc k within 60 days of the de c laration the re of if, on
the de c laration date, suc h divide nds o r distributions c ould have be e n paid in c omplianc e with this Inde nture ;
provided , however, that at the time of suc h payme nt of suc h divide nd or distribution, no othe r De fault o r Eve nt of
De fault shall have oc c urre d and be c ontinuing ( or re sult the re from); provided further, however, that suc h divide nd
o r distribution shall be inc lude d in the c alc ulation of the amount of Re stric te d Payme nts pursuant to Se c tion
4.10 (a)(iii) above ;

(ii) purc hase, re purc hase, re de e m, de fe ase, ac quire or re tire for value any (i) Capital Stoc k of the
Company , any Re stric te d Subsidiary o r a ny Pe rmitte d Joint Ve nture , o r ( ii) Subordinate d Oblig ations , in
e xc hang e for, or out of the proc e e ds of the substantially c onc urre nt sale of, Capital Stoc k of the Company (othe r
tha n Disquali e d Stoc k and othe r than Capital Stoc k is s ue d o r sold to a Subs idiary of the Co mpany o r an
e mploye e stoc k owne rship plan or trust e stablishe d by the Company or any suc h Subsidiary for the be ne t of the ir
e mploye e s); provided , however, that

(A) suc h purc hase, re purc hase, re de mption, de fe asanc e, ac quisition o r re tire me nt shall be
e xc lude d in the c alc ulation of the amount of Re stric te d Payme nts pursuant to Se c tion 4.10 (a)(iii) above
and

(B) the Capital Stoc k Sale Proc e e ds from suc h e xc hang e or sale shall be e xc lude d from the
c alc ulation pursuant to Se c tion 4.10 (a)(iii)(B) above ;

(iii) purc hase, re purc hase, re de e m, de fe ase, ac quire or re tire for value any Subordinate d Oblig ations
in e xc hang e for, o r out of the proc e e ds of the substantially c onc urre nt sale of, Pe rmitte d Re nanc ing De bt ;
provided , however, that suc h purc hase, re purc hase, re de mption, de fe asanc e, ac quisition o r re tire me nt shall be
e xc lude d in the c alc ulation of the amount of Re stric te d Payme nts pursuant to Se c tion 4.10 (a)(iii) above ;

(iv) make an Inve stme nt , if at the time the Company o r any Re stric te d Subsidiary rs t Inc urre d a
c ommitme nt for suc h Re stric te d Payme nt , suc h Re stric te d Payme nt c ould have be e n made ; provided , however,
that the Inve stme nt is made within 90 days from the date in whic h the Company o r the Re stric te d Subsidiary
Inc urs the c ommitme nt; and provided further, however, that all c ommitme nts Inc urre d a nd outstanding and not
te rminate d shall be tre ate d as if suc h c ommitme nts we re Re stric te d Payme nts e xpe nde d by the Company o r the
Re stric te d Subsidiary at the time the c ommitme nts we re Inc urre d;

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 (v) re purc hase e quity inte re sts of the Company or any of its Re stric te d Subsidiarie s de e me d to oc c ur
upon the e xe rc ise of stoc k options upon surre nde r of e quity inte re sts to pay the e xe rc ise pric e of suc h options;
provided , however, that suc h re purc hase shall be e xc lude d in the c alc ulation of the amount of Re stric te d
Payme nts pursuant to Se c tion 4.10 (a)(iii) above ;

(vi) re purc hase, re de e m o r re tire for value any Capital Stoc k of the Co mpany o r any of its
Subs idiarie s from c urre nt o r forme r e mploye e s of the Co mpany o r any of its S ubs idiarie s (o r pe rmitte d
transfe re e s of suc h c urre nt o r forme r e mploye e s), pursuant to the te rms of ag re e me nts (inc luding e mployme nt
ag re e me nts, e mploye e stoc k options o r re stric te d stoc k ag re e me nts) o r plans (o r ame ndme nts the re to)
approve d by the Board of Dire c tors of the Company unde r whic h suc h individuals purc hase or se ll, or are g rante d
the option to purc hase or se ll, share s of suc h Capital Stoc k ; provided , however, that:

(A) the ag g re g ate amount of suc h re purc hase s shall not e xc e e d $10 .0 million in any
c ale ndar ye ar, with unuse d amounts c arrie d ove r to the ne xt c ale ndar ye ar subje c t to a maximum of
$15.0 million in any c ale ndar ye ar; and

(B) at the time of suc h re purc hase, no De fault or Eve nt of De fault shall have oc c urre d and
be c ontinuing (or re sult the re from);

provided further, however, that suc h re purc hase s shall be e xc lude d in the c alc ulation of the amount of Re stric te d
Payme nts pursuant to Se c tion 4.10 (a)(iii) above ;

(vii) pay divide nds or distributions in the ordinary c ourse of busine ss on the Company ’s outstanding
Capital Stoc k o r Pre fe rre d Stoc k o r make ope n marke t purc hase s of share s of the Company ’ s outstanding
Capital Stoc k pursuant to stoc k buybac k prog rams approve d by the Board of Dire c tors of the Company , in an
amount whic h, whe n c ombine d with all suc h divide nds, distributions and purc hase s, doe s not e xc e e d $50 .0 million
in the ag g re g ate in any c ale ndar ye ar, with unuse d amounts c arrie d ove r to the suc c e e ding c ale ndar ye ar, subje c t
to a maximum of $75.0 million in any c ale ndar ye ar; suc h $25.0 million inc re ase allowe d only if the pro forma
Consolidate d Inte re st Cove rag e Ratio is at le ast 2.0 0 to 1.0 0 ; provided , however, that at the time of suc h
divide nd, distribution or purc hase ,

(A) the Company c ould Inc ur at le ast $1.0 0 of additional De bt pursuant to c lause (a)(i) of
Se c tion 4.0 9 he re of, afte r g iving pro forma e ffe c t to suc h divide nd or distribution; and

(B) no De fault o r Eve nt of De fault shall have oc c urre d and be c ontinuing ( o r re sult
the re from);

provided further, however, that suc h divide nds or distributions shall be e xc lude d in the c alc ulation of the amount of
Re stric te d Payme nts pursuant to Se c tion 4.10 (a)(iii) above ;

(viii) purc hase , re purc hase , re de e m, de fe ase , ac quire or re tire for value any Subordinate d Oblig ations
from Ne t Available Cash to the e xte nt pe rmitte d by Se c tion 4.12 he re of, provided , however, that suc h purc hase,
re purc hase, re de mption, le g al de fe asanc e, ac quisition or re tire me nt for value shall be e xc lude d in the c alc ulation
of the amount of Re stric te d Payme nts pursuant to Se c tion 4.10 (a)(iii) above ;

(ix) purc hase or re de e m any Subordinate d Oblig ations , to the e xte nt re quire d by the te rms of suc h
De bt following a Chang e of Control ; provided , however, that the Company has

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 made a Chang e of Control Offe r and has purc hase d all Note s te nde re d in c onne c tion with that Chang e of Control
Offe r ; provided further, however, that suc h purc hase o r re de mption shall be inc lude d in the c alc ulation of the
amount of Re stric te d Payme nts pursuant to Se c tion 4.10 (a)(iii) above ;

(x) othe r Re stric te d Payme nts in an ag g re g ate d amount not to e xc e e d $150 .0 million sinc e the
Issue Date ; provided , however, that at the time of suc h payme nt of suc h divide nd or distribution, no othe r De fault
o r Eve nt of De fault shall have oc c urre d and be c ontinuing ( o r re sult the re from); provided further, however, that
suc h Re stric te d Payme nts shall be e xc lude d in the c alc ulation of the amount of Re stric te d Payme nts pursuant to
Se c tion 4.10 (a)(iii) above ; and

(xi) any additional Re stric te d Payme nt so long as imme diate ly afte r g iving e ffe c t to the making of
s uc h Re stric te d Payme nt , the Company ’ s Total Le ve rag e Ratio doe s not e xc e e d 3.50 to 1.0 0 ; provided ,
however, that at the time of suc h payme nt of suc h divide nd o r distribution, no De fault o r Eve nt of De fault shall
have oc c urre d and be c ontinuing ( or re sult the re from); provided further, however, that suc h Re stric te d Payme nts
shall be e xc lude d in the c alc ulation of the amount of Re stric te d Payme nts pursuant to Se c tion 4.10 (a)(iii) above .

Se c tion 4.11. Limitatio n o n Liens .

The Company shall not, and shall not pe rmit any Re stric te d Subsidiary to, dire c tly o r indire c tly, Inc ur or
suffe r to e xist, any Lie n (othe r than Pe rmitte d Lie ns ) upon any of its P rope rty (inc luding Capital Stoc k of a Re stric te d
Subsidiary ), whe the r owne d at the Issue Date o r the re afte r ac quire d, o r any inte re st the re in o r any inc ome o r profits
the re from, unle ss it has made or will make e ffe c tive provision whe re by the Note s o r the applic able Subsidiary Guarante e
will be se c ure d by suc h Lie n e qually and ratably with ( or , if suc h othe r De bt c onstitute s Subordinate d Oblig ations , prior
to) all othe r De bt of the Company o r any Re stric te d Subsidiary se c ure d by suc h Lie n for so long as suc h othe r De bt is
se c ure d by suc h Lie n ; provided , however, that if the De bt so se c ure d is e xpre ssly subordinate d to the Note s , the n the
Lie n se c uring suc h De bt shall be subordinate d and junior to the Lie n se c uring the Note s or the Subsidiary Guarante e s .

Se c tion 4.12. Limitatio n o n Asset Sales .

(a) The Company shall not, and shall not pe rmit any Re stric te d Subsidiary to, dire c tly o r indire c tly,
c onsummate any Asse t Sale unle ss:

(i) the Company o r s uc h Re stric te d Subsidiary re c e ive s c onside ration, inc luding the re lie f of
liabilitie s, at the time of suc h Asse t Sale at le ast e qual to the Fair Marke t Value of the P rope rty subje c t to suc h
Asse t Sale ; and

(ii) e xc e pt in the c ase of a Pe rmitte d Asse t Swap , at le ast 75% of the c onside ration paid to the
Company or s uc h Re stric te d Subsidiary in c onne c tion with suc h Asse t Sale is in the form of c ash o r Te mporary
Cash Inve stme nts .

Sole ly for the purpose s of c lause (a)(ii) of this Se c tion 4.12, the following will be de e me d to be c ash:

(A) the assumption by the purc hase r of liabilitie s of the Company or any Re stric te d Subsidiary (othe r
than c onting e nt liabilitie s o r liabilitie s that are by the ir te rms subordinate d to the N o te s o r the applic able
Subsidiary Guarante e ) as a re sult of whic h the Company and the Re stric te d Subsidiarie s are no long e r oblig ate d
with re spe c t to suc h liabilitie s;

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 (B) any se c uritie s, note s o r othe r oblig ations re c e ive d by the Company o r any suc h Re stric te d
Subsidiary from suc h Purc hase r to the e xte nt the y are promptly c onve rte d or mone tiz e d by the Company o r suc h
Re stric te d Subsidiary into c ash (to the e xte nt of the c ash re c e ive d) o r by the ir te rms mature o r are othe rwise to
be c onve rte d into c ash within 180 days; and

(C) any De sig nate d Nonc ash Conside ration the Fair Marke t Value of whic h, whe n take n tog e the r
with all othe r De sig nate d Nonc ash Conside ration re c e ive d pursuant to this c lause (C) (and not subse que ntly
c onve rte d into c ash o r Te mporary Cash Inve stme nts that are tre ate d as Ne t Available Cash ), doe s not e xc e e d
the g re ate r of (1) $150 .0 million and (2) 5.0 % of the Consolidate d Ne t Tang ible Asse ts at the time of the re c e ipt
of suc h De sig nate d Nonc ash Conside ration , with the Fair Marke t Value of e ac h ite m of De sig nate d Nonc ash
Conside ration be ing me asure d at the time re c e ive d and without g iving e ffe c t to subse que nt c hang e s in value .

(b) The Ne t Available Cash (o r any portion the re of) from Asse t Sale s may be applie d by the
Company o r a Re stric te d Subsidiary , to the e xte nt the Company o r s uc h Re stric te d Subsidiary e le c ts (o r is re quire d by
the te rms of any De bt ) to any of the following use s:

(i) to Re pay

( A ) De bt of the Company o r a ny Re stric te d Subsidiary that is se c ure d by the Prope rty

subje c t to suc h Asse t Sale (e xc luding any De bt owe d to the Company o r a n Af liate of the Company )
and/or

(B) De bt unde r the Cre dit Fac ility ; or

(ii) to inve st o r re inve st in Additional Asse ts (inc luding by me ans of an Inve stme nt i n Additional
As s e ts by a Re stric te d Subsidiary with Ne t Available Cash re c e ive d by the Co mpany o r ano the r Re stric te d
Subsidiary ); or

(iii) to make c apital e xpe nditure s to improve e xisting asse ts.

Notwithstanding the fore g oing , (i) any inve stme nt in Additional Asse ts within 180 days prior to an Asse t
Sale , shall be de e me d to satisfy c lause (b)(ii) above with re spe c t to any suc h Asse t Sale and (ii) any c apital e xpe nditure
made to improve e xisting asse ts within 180 days of an Asse t Sale shall be de e me d to satisfy c lause (b)(iii) above with
re spe c t to any Asse t Sale .

(c ) Any Ne t Available Cash from an Asse t Sale not applie d in ac c ordanc e with c lause (b) of this
Se c tion 4.12 within 450 days from the date of the re c e ipt of suc h Ne t Available Cash , o r suc h shorte r pe riod whic h the
Co mpany de te rmine s o r that is not se g re g ate d from the g e ne ral funds of the Co mpany fo r inve s tme nt in ide nti e d
Additional Asse ts in re spe c t of a proje c t that shall have be e n c omme nc e d, and for whic h binding c ontrac tual c ommitme nts
have be e n e nte re d into, prior to the e nd of suc h 450 -day pe riod and that shall not have be e n c omple te d or abandone d shall
c onstitute “Exc e ss Proc e e ds”; provided , however, that the amount of any Ne t Available Cash that c e ase s to be so
se g re g ate d as c onte mplate d above and any Ne t Available Cash that is se g re g ate d in re spe c t of a proje c t that is
abandone d or c omple te d shall also c onstitute “Exc e ss Proc e e ds” at the time any suc h Ne t Available Cash c e ase s to be
so se g re g ate d or at the time the re le vant proje c t is so abandone d or c omple te d, as applic able ; provided further, however,
that the amount of any Ne t Available Cash that c ontinue s to be se g re g ate d for inve s tme nt and that is not ac tually
re inve ste d within 450 days from the date of the re c e ipt of suc h Ne t Available Cash shall also c onstitute “Exc e ss
Proc e e ds.”

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 (d) Whe n the ag g re g ate amount of Exc e ss Proc e e ds e xc e e ds $150 .0 million (not taking into
ac c ount inc ome e arne d on suc h Exc e ss Proc e e ds , if any), the Company will be re quire d to make an Asse t Sale Offe r ,
whic h offe r shall be in the amount of the Alloc able Exc e ss Proc e e ds (as de ne d be low), on a pro rata basis, ac c ording to
princ ipal amount, at a purc hase pric e e qual to 10 0 % of the princ ipal amount the re of, plus ac c rue d and unpaid inte re st to
the purc hase date (subje c t to the rig ht of Holde rs of re c ord on the re le vant re c ord date to re c e ive inte re st due on the
re le vant inte re st payme nt date ), in ac c ordanc e with the proc e dure s ( inc luding prorating in the e ve nt of ove rsubsc ription)
se t forth in this Inde nture . To the e xte nt that any portion of the amount of Ne t Available Cash re mains afte r c omplianc e
with the pre c e ding se nte nc e and provided that all Holde rs of Note s have be e n g ive n the opportunity to te nde r the ir Note s
for purc hase in ac c ordanc e with this Inde nture , the Company o r s uc h Re stric te d Subsidiary may use suc h re maining
amount for any purpose not othe rwise prohibite d by this Inde nture and the amount of Exc e ss Proc e e ds will be re se t to
z e ro.

(e ) The te rm “Allocable Excess Proceeds” shall me an the produc t of:

(i) the Exc e ss Proc e e ds and

(ii) a frac tion,

(A) the nume rator of whic h is the ag g re g ate princ ipal amount of the Note s outstanding on
the date of the Asse t Sale Offe r , and

(B) the de nominator of whic h is the sum of the ag g re g ate princ ipal amount of the Note s
outstanding on the date of the Asse t Sale Offe r and the ag g re g ate princ ipal amount of othe r De bt of the
Company outstanding on the date of the Asse t Sale Offe r that is pari passu in rig ht of payme nt with the
Note s and subje c t to te rms and c onditions in re spe c t of Asse t Sale s substantially similar to this Se c tion
4.12 and re quiring the Company to make an offe r to purc hase suc h De bt at substantially the same time as
the Asse t Sale Offe r .

(f) Within ve busine ss days afte r the Company is oblig ate d to make an Asse t Sale Offe r as
de sc ribe d in c lause (d) of this Se c tion 4.12, the Co mpany shall de live r a writte n notic e to the Ho lde rs o f Note s ,
ac c ompanie d by suc h information re g arding the Company and its Subsidiarie s as the Company in g ood faith be lie ve s will
e nable suc h Holde rs to make an informe d de c ision with re spe c t to suc h Asse t Sale Offe r . Suc h notic e shall state, among
othe r thing s, the purc hase pric e and the purc hase date, whic h shall be, subje c t to any c ontrary re quire me nts of applic able
law, a busine ss day no e arlie r than 30 days nor late r than 60 days from the date suc h notic e is de live re d.

(g ) The Company will c omply, to the e xte nt applic able, with the re quire me nts of Se c tion 14(e ) of the
Exc hang e Ac t and any othe r se c uritie s laws o r re g ulations in c onne c tion with any re purc hase of Note s pursuant to this
Se c tion 4.12. To the e xte nt that the provisions of any se c uritie s laws or re g ulations c on ic t with provisions of this Se c tion
4.12, the Company shall c omply with the applic able se c uritie s laws and re g ulations and shall not be de e me d to have
bre ac he d its oblig ations unde r this Se c tion 4.12 by virtue the re of.

Se c tion 4.13. Limitatio n o n Restric tio ns o n Distributio ns fro m Restric ted Subsidiaries .

(a) The Company shall not, and shall not pe rmit any Re stric te d Subsidiary to, dire c tly o r indire c tly,
c re ate or othe rwise c ause or suffe r to e xist any c onse nsual re stric tion on the rig ht of any Re stric te d Subsidiary to:

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 (i) pay divide nds, in c ash or othe rwise , or make any othe r distributions on or in re spe c t of its Capital
Stoc k , or pay any De bt or othe r oblig ation owe d, to the Company or any othe r Re stric te d Subsidiary ,

(ii) make any loans or advanc e s to the Company or any othe r Re stric te d Subsidiary , or

(iii) transfe r any of its Prope rty to the Company or any othe r Re stric te d Subsidiary .

(b) The fore g oing limitations will not apply:

(i) with re spe c t to c lause s (a)(i), (ii) and (iii), to re stric tions:

(A) in e ffe c t on the Issue Date , inc luding , without limitation, re stric tions pursuant to the
Note s , this Inde nture , the inde nture s g ove rning the Company ’s note s outstanding on the Issue Date
and the Cre dit Fac ility or pursuant to a c re dit ag re e me nt or c re dit ag re e me nts whic h may be e nte re d into
afte r the Issue Date unde r whic h one o r more Fore ig n Subsidiarie s that are Re stric te d Subsidiarie s c an
Inc ur De bt so long as suc h De bt is Inc urre d pursuant to Se c tion 4.0 9(b)(ii) he re of and, as de te rmine d in
g ood faith by the Company , that are no more re stric tive, take n as a whole, than those c ontaine d in
the Cre dit Fac ility on the Issue Date ,

(B) re lating to De bt of a Re stric te d Subsidiary and e xisting at the time it be c ame a Re stric te d
Subsidiary if suc h re stric tion was not c re ate d in c onne c tion with o r in antic ipation of the transac tion or
se rie s of transac tions pursuant to whic h suc h Re stric te d Subsidiary be c ame a Re stric te d Subsidiary or
was ac quire d by the Company ,

(C) that re sult from the Re nanc ing of De bt Inc urre d pursuant to an ag re e me nt re fe rre d to
in c lause (i)(A) or (B) above or in c lause (ii)(A) or (B) be low, provided suc h re stric tions take n as a whole,
as de te rmine d in g ood faith by the Company , are no le ss favorable to the Holde rs than those unde r the
ag re e me nt e vide nc ing the De bt so Re financ e d,

(D) arising in c onne c tion with a Quali e d Re c e ivable s Transac tion (inc luding limitations se t
forth in the g ove rning doc ume nts of a Spe c ial Purpose Ve hic le ), or

(E) e xisting unde r or by re ason of applic able law, and

(ii) with re spe c t to c lause (a)(iii) only, to re stric tions:

(A) re lating to De bt that is pe rmitte d to be Inc urre d and se c ure d without also se c uring the
Note s o r the applic able Subsidiary Guarante e pursuant to Se c tions 4.0 9 and 4.11 he re of, that limit the
rig ht of the de btor to dispose of the Prope rty se c uring suc h De bt ,

(B) e nc umbe ring Prope rty at the time suc h Prope rty was ac quire d by the Company o r any
Re stric te d Subsidiary , so long as suc h re stric tion re late s sole ly to the Prope rty so ac quire d and was not
c re ate d in c onne c tion with or in antic ipation of suc h ac quisition,

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 (C) re sulting from c ustomary provisions re stric ting suble tting o r assig nme nt of le ase s or
c ustomary provisions in othe r ag re e me nts that re stric t assig nme nt of suc h ag re e me nts o r rig hts
the re unde r,

(D) that c onstitute c ustomary re stric tions c ontaine d in sale ag re e me nts limiting the transfe r
of Capital Stoc k or Prope rty pe nding the c losing of suc h sale ,

(E) that c onstitute c ustomary re stric tions c ontaine d in joint ve nture ag re e me nts e nte re d into
in g ood faith and not othe rwise prohibite d unde r this Inde nture , or

(F) e xisting by virtue of any transfe r of, ag re e me nt to transfe r, option or rig ht with re spe c t
to, or Lie n on, any Prope rty of the Company or any Re stric te d Subsidiary not othe rwise prohibite d by this
Inde nture .

Se c tion 4.14. Limitatio ns o n Affiliate T ransac tio ns .

(a) The Company shall not, and shall not pe rmit any Re stric te d Subsidiary to, dire c tly o r indire c tly,
c onduc t any busine ss or e nte r into or suffe r to e xist any transac tion or se rie s of transac tions (inc luding the purc hase, sale,
transfe r, assig nme nt, le ase, c onve yanc e o r e xc hang e of any P rope rty o r the re nde ring of any se rvic e ) with, o r for the
be ne t of, any Af liate of the Company involving ag g re g ate payme nts o r value in e xc e ss of $25.0 million (an “Affiliate
Transaction”), unle ss:

(i) the te rms of suc h Affiliate Transac tion , take n as a whole, are no le ss favorable to the Company
or suc h Re stric te d Subsidiary , as the c ase may be, than those that would re asonably be e xpe c te d to be obtaine d
in a c omparable arm’s-le ng th transac tion at the time of the transac tion with a Pe rson that is not an Affiliate of the
Company ,

(ii) if suc h Affiliate Transac tion involve s ag g re g ate payme nts or value in e xc e ss of $50 .0 million, the
Board of Dire c tors of the Company (inc luding at le ast a majority of the disinte re ste d me mbe rs of the Board of
Dire c tors of the Company ) approve s suc h Affiliate Transac tion and, in its g ood faith judg me nt, be lie ve s that suc h
Affiliate Transac tion c omplie s with c lause (a)(i) of this Se c tion 4.14 as e vide nc e d by a Board Re solution de live re d
to the Truste e , and

(iii) if suc h Affiliate Transac tion involve s ag g re g ate payme nts or value in e xc e ss of $75.0 million, the
Company obtains a writte n opinion from an Inde pe nde nt Financ ial Advisor to the e ffe c t that the c onside ration to
be paid o r re c e ive d in c onne c tion with suc h Af liate Transac tion is fair, from a nanc ial point of vie w, to the
Company and the Re stric te d Subsidiarie s .

(b) Notwithstanding (and without the ne e d to c omply with) the fore g oing limitation, the Company or
any Re stric te d Subsidiary may e nte r into or suffe r to e xist the following :

(i) any transac tion o r se rie s of transac tions be twe e n the Company and one o r mo re Re stric te d
Subsidiarie s o r be twe e n two o r m o r e Re stric te d Subsidiarie s ; provided that if one of the partie s to suc h
transac tion or se rie s of transac tions is a Re stric te d Subsidiary that is not a Subsidiary Guarantor , no more than
5% of the total voting powe r of the Voting Stoc k (on a fully dilute d basis) of suc h Re stric te d Subsidiary is owne d
by a stoc kholde r of the Company that is an Affiliate ;

(ii) any Re stric te d Payme nt pe rmitte d to be made pursuant to Se c tion 4.10 he re of, o r any Pe rmitte d
Inve stme nt ;

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 (iii) any disposition of Prope rty of the Company or any Subsidiary in c onne c tion with the transfe r of
the Company ’s Laroc he tte mill to Re no de Me dic i S.p.A.;

(iv) the payme nt of c ompe nsation (inc luding amounts paid pursuant to e mploye e be ne t plans) for
the pe rsonal se rvic e s of of c e rs, dire c tors and e mploye e s of the Company or any of the Re stric te d Subsidiarie s ,
whe the r in c ash, se c uritie s o r othe rwise, so long as the Board of Dire c tors of the Company in g ood faith shall
have approve d the te rms the re of and de e me d the se rvic e s the re tofore o r the re afte r to be pe rforme d for suc h
c ompe nsation to be fair c onside ration the re for;

(v) loans and advanc e s to e mploye e s made in the ordinary c ourse of busine ss and c onsiste nt with
the past prac tic e s of the Company o r s uc h Re stric te d Subsidiary , as the c ase may be ; provided that suc h loans
and advanc e s do not e xc e e d $10 .0 million in the ag g re g ate at any one time outstanding ;

(vi) the issuanc e or sale of any Capital Stoc k (othe r than Disqualifie d Capital Stoc k) of the Company ;

(vii) transac tions with c ustome rs, supplie rs, c ontrac tors, joint ve nture partne rs o r purc hase rs or
se lle rs of g oods or se rvic e s, in e ac h c ase whic h are in the ordinary c ourse of busine ss and c onsiste nt with industry
prac tic e (inc luding , without limitation, pursuant to ag re e me nts in e xiste nc e on the date of this Inde nture ) and
othe rwise in c omplianc e with the te rms of this Inde nture and, take n as a whole, are on te rms no le ss favorable to
the Company or suc h Re stric te d Subsidiary , as the c ase may be , than those that would re asonably be e xpe c te d to
be obtaine d in a c omparable arm’s-le ng th transac tion at the time of the transac tion with a P e rson that is not an
Affiliate of the Company ;

(viii) payme nts or othe r transac tions pursuant to any tax-sharing ag re e me nt approve d by the Board of
Dire c tors of the Company and e nte re d into in g ood faith be twe e n the Company and any othe r P e rson with whic h
the Company le s a c onsolidate d tax re turn or with whic h the Company is a part of a c onsolidate d g roup for tax
purpose s;

(ix) payme nts from Af liate s to the Co mpany o r a Re stric te d Subsidiary for ope rational,
manag e me nt and nanc ial se rvic e s pursuant to ag re e me nts that are on te rms no le ss favorable to the Company
o r s uc h Re stric te d Subsidiary , as the c ase may be, than those that c ould be obtaine d in a c omparable arm’s-
le ng th transac tion with a Pe rson that is not an Affiliate of the Company ;

(x) any sale, c onve yanc e o r othe r transfe r of Re c e ivable s and othe r re late d asse ts c ustomarily
transfe rre d in a Qualifie d Re c e ivable s Transac tion ; and

(xi) dire c tor and of c e r inde mni c ation ag re e me nts e nte re d into in g ood faith and approve d by the
Board of Dire c tors of the Company .

Se c tion 4.15. Desig natio n o f Restric ted and Unrestric ted Subsidiaries .

(a) The Board of Dire c tors of the Company may de sig nate any Subsidiary of the Company to be an
U nre stric te d Subsidiary if suc h de sig nation is pe rmitte d unde r Se c tion 4.10 and the Subsidiary to be so de sig nate d:

(i) has no De bt othe r than Non-Re c ourse De bt ;

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 (ii) is a Pe rson with re spe c t to whic h ne ithe r the Company nor any of its Re stric te d Subsidiarie s has
any dire c t o r indire c t oblig ation (1) to subsc ribe for additional Capital Stoc k o r (2) to maintain o r pre se rve suc h
Pe rson ’s financ ial c ondition or to c ause suc h Pe rson to ac hie ve any spe c ifie d le ve ls of ope rating re sults; and

(iii) has not Guarante e d or othe rwise dire c tly or indire c tly provide d c re dit support for any De bt of the
Company or any of its Re stric te d Subsidiarie s .

(b) U nle ss so de sig nate d as an U nre stric te d Subsidiary , any P e rson that be c ome s a Subsidiary of
the Company will be c lassi e d as a Re stric te d Subsidiary ; provided , however, that suc h Subsidiary shall not be de sig nate d
a Re stric te d Subsidiary and shall be automatic ally c lassi e d as an U nre stric te d Subsidiary if (1) e ithe r of the re quire me nts
se t forth in Se c tions 4.15(d)(x) and (y) shall not be satis e d afte r g iving pro forma e ffe c t to suc h c lassi c ation, (2) if suc h
P e rs on is a Subsidiary of an U nre stric te d Subsidiary o r (3) unle ss the Company e le c ts othe rwise, suc h Subs idiary is
forme d and e xists sole ly for the purpose of e ffe c ting a transac tion o r se rie s of transac tions othe rwise pe rmitte d by this
Inde nture and suc h Subsidiary will be me rg e d, c onsolidate d, liquidate d, dissolve d, wound-up o r amalg amate d into the
Company or a Re stric te d Subsidiary as part of suc h transac tion or se rie s of transac tions.

(c ) Exc e pt as provide d in the rst se nte nc e of c lause (b) of this Se c tion 4.15, no Re stric te d
Subsidiary may be re de sig nate d as an U nre stric te d Subsidiary , and ne ithe r the Company nor any Re stric te d Subsidiary
shall at any time be dire c tly or indire c tly liable for any De bt that provide s that the holde r the re of may (with the passag e of
time o r notic e o r both) de c lare a de fault the re on o r c ause the payme nt the re of to be ac c e le rate d o r payable prior to its
State d Maturity upon the oc c urre nc e of a de fault with re spe c t to any De bt , Lie n o r othe r oblig ation of any U nre stric te d
Subsidiary (inc luding any rig ht to take e nforc e me nt ac tion ag ainst suc h U nre stric te d Subsidiary ). U pon de sig nation of a
Re stric te d Subsidiary as an U nre stric te d Subsidiary in c omplianc e with this Se c tion 4.15, suc h Re stric te d Subsidiary shall
automatic ally be re le ase d from any Subsidiary Guarante e pre viously made by suc h Re stric te d Subsidiary upon re c e ipt by
the Truste e of an Offic e rs ’ Ce rtific ate and a Board Re solution in re spe c t the re of.

(d) The Board of Dire c tors of the Company may de sig nate any U nre stric te d Subsidiary to be a
Re stric te d Subsidiary if, imme diate ly afte r g iving pro forma e ffe c t to suc h de sig nation,

(x) the Company c ould Inc ur at le ast $1.0 0 of additional De bt pursuant to c lause (a)(i) of Se c tion
4.0 9 he re of, and

(y) no de fault or Eve nt of De fault shall have oc c urre d and be c ontinuing or would re sult the re from.

(e ) Any suc h de sig nation o r re de sig nation by the Board of Dire c tors of the Company will be
e vide nc e d to the Truste e by de live ry to the Truste e a Board Re solution g iving e ffe c t to suc h de sig nation o r re de sig nation
and an Offic e rs ’ Ce rtific ate that:

(1) c e rtifie s that suc h de sig nation or re de sig nation c omplie s with the pre c e ding provisions, and

(2) g ive s the e ffe c tive date of suc h de sig nation or re de sig nation,

suc h de live ry with the Truste e to oc c ur within 45 days afte r the e nd of the sc al quarte r of the Company in whic h suc h
de sig nation or re de sig nation is made (or , in the c ase of a de sig nation or re de sig nation made

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during the last fisc al quarte r of the Company ’s fisc al ye ar, within 90 days afte r the e nd of suc h fisc al ye ar).

(f) As of the Issue Date , the Board of Dire c tors of the Co mpa ny has de sig nate d
Casc ade s Re c ove ry Inc ., Gre e npac Holding LLC (and its dire c t pare nt holding c ompany), Re no de Me dic i S.p.A. and
Norc an Fle xible Pac king Inc . (and the ir re spe c tive Subsidiarie s) as U nre stric te d Subsidiarie s .

Se c tion 4.16. Repurc hase at the Optio n o f Ho lders Upo n a Chang e o f Co ntro l .

(a) U pon the oc c urre nc e of a Chang e of Control , the Company shall offe r to re purc hase all o r any
part (e qual to U S$2,0 0 0 o r an inte g ral multiple of U S$1,0 0 0 in e xc e ss the re of) of the No te s pursuant to the offe r
de sc ribe d be low (the “Change of Control Offer”) at a purc hase pric e, in c ash (the “ Change of Control Purchase Price”),
e qual to 10 1% of the ag g re g ate princ ipal amount of Note s re purc hase d, plus ac c rue d and unpaid inte re st on the Note s
re purc hase d to the purc hase date (subje c t to the rig ht of Holde rs on the re le vant re c ord date to re c e ive inte re st to, but
e xc luding , the Chang e of Control Payme nt Date (as de ne d be low)). Eac h Holde r shall have the rig ht to re quire the
Company to re purc hase all or any part (e qual to U S$2,0 0 0 or an inte g ral multiple of U S$1,0 0 0 in e xc e ss the re of) of suc h
Holde r ’s Note s pursuant to suc h offe r.

Within 30 days following any Chang e of Control , unle ss the Co mpany has maile d o r de live re d a
re de mption notic e with re spe c t to all of the outstanding Note s in ac c ordanc e with Se c tion 3.0 7, the Company shall:

(i) c ause a notic e of the Chang e of Control Offe r to be se nt at le ast onc e to the Dow Jone s Ne ws
Se rvic e or similar busine ss ne ws se rvic e in the U nite d State s and

(ii) de live r, with a c opy to the Truste e , to e ac h Holde r o f Note s , at suc h Holde r ’s addre ss
appe aring in the se c uritie s re g iste r maintaine d in re spe c t of the Note s by the Re g istrar (the “Security Register”), a
notic e stating :

(A) that a Chang e of Control has oc c urre d and a Chang e of Control Offe r is be ing made
pursuant to this Se c tion 4.16 and that all Note s time ly te nde re d will be ac c e pte d for re purc hase ;

(B) the Chang e of Control Purc hase Pric e and the purc hase date, whic h shall be, subje c t to
any c ontrary re quire me nts of applic able law, a Busine ss Day no e arlie r than 30 days and no late r than 60
days from the date suc h notic e is de live re d (the “Change of Control Payment Date”);

(C) the c irc umstanc e s and re le vant fac ts re g arding the Chang e of Control ; and

(D) the proc e dure s that Holde rs must follow in orde r to te nde r the ir No te s (o r portions
the re of) for payme nt, and the proc e dure s that Holde rs must follow in orde r to withdraw an e le c tion to
te nde r Note s (or portions the re of) for payme nt.

T he Company will c omply, to the e xte nt applic able, with the re quire me nts of Se c tion 14(e ) unde r the
Exc hang e Ac t and any othe r se c uritie s laws and re g ulations the re unde r in c onne c tion with the re purc hase of Note s
pursuant to a Chang e of Control Offe r . To the e xte nt that the provisions of any se c uritie s laws or re g ulations c on ic t with
this Se c tion 4.16 or othe r provisions of this Inde nture , the

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 Company will c omply with the applic able se c uritie s laws and re g ulations and will not be de e me d to have
bre ac he d its oblig ations unde r this Se c tion 4.16 by virtue of suc h c omplianc e .

(b) On the Chang e of Control Payme nt Date , the Company shall, to the e xte nt lawful:

(i) ac c e pt for payme nt all Note s or portions of Note s prope rly te nde re d pursuant to the Chang e of
Control Offe r ;

(ii) de posit with the Paying Ag e nt an amount e qual to the Chang e of Control Payme nt in re spe c t of
all Note s or portions of Note s prope rly te nde re d; and

(iii) de live r or c ause to be de live re d to the Truste e or Paying Ag e nt , on its be half, the Note s prope rly
ac c e pte d tog e the r with an Offic e rs ’ Ce rti c ate stating the ag g re g ate princ ipal amount of Note s o r portions of
Note s be ing te nde re d and purc hase d by the Company .

The Paying Ag e nt shall promptly mail or de live r to e ac h Holde r o f Note s prope rly te nde re d the Chang e
of Control Payme nt for suc h Note s , and the Trus te e shall promptly authe ntic ate and mail o r de live r (o r c ause to be
transfe rre d by book-e ntry) to e ac h Holde r a ne w Note e qual in princ ipal amount to any unpurc hase d portion of the Note s
surre nde re d, if any; provided that e ac h ne w No te will be in a princ ipal amount of U S$2,0 0 0 o r an inte g ral multiple of
U S$1,0 0 0 in e xc e ss the re of.

(c ) If the Chang e of Control Payme nt Date is on or afte r a Re g ular Re c ord Date and on o r be fore
the re late d Inte re st Payme nt Date , any ac c rue d and unpaid inte re st shall be paid to the Pe rson in whose name a Note is
re g iste re d, at the c lose of busine ss on suc h Re g ular Re c ord Date , and no additional inte re st shall be payable to Holde rs
who te nde r pursuant to the Chang e of Control Offe r .

(d) The provisions de sc ribe d above that re quire the Company to make a Chang e of Control Offe r
following a Chang e of Control shall be applic able whe the r o r not any othe r provisions of this Inde nture are
applic able. This Inde nture doe s not c ontain provisions that pe rmit the Holde rs of the Note s to re quire that the Company
re purc hase or re de e m the Note s in the e ve nt of a take ove r, re c apitaliz ation or similar transac tion that doe s not involve a
Chang e of Control .

(e ) The Company shall not be re quire d to make a Chang e of Control Offe r upon a Chang e of Control
if a third party make s a Chang e of Control Offe r in the manne r, at the time s and othe rwise in c omplianc e with the
re quire me nts se t forth in this Inde nture applic able to a Chang e of Control Offe r made by the Company and purc hase s all
Note s prope rly te nde re d and not withdrawn unde r the Chang e of Control Offe r .

Se c tion 4.17. Future Subsidiary Guaranto rs .

T h e Co mpany shall c ause e ac h P e rs o n that be c ome s a Canadian o r U.S. Re stric te d Subsidiary,

e xc luding any Spe c ial Purpose Ve hic le , following the Issue Date to e xe c ute and de live r to the Truste e a supple me ntal
inde nture substantially in the form of Exhibit D he re to providing a Subsidiary Guarante e within 30 days afte r suc h time
s uc h P e rson be c ome s a Canadian o r U.S. Re stric te d Subsidiary; provided , however, that if any suc h Canadian o r U .S.
Re stric te d Subsidiary has asse ts or annual re ve nue s, in e ac h c ase, of le ss than $5.0 million individually (and $15.0 million
in asse ts o r annual re ve nue s in the ag g re g ate in re spe c t of all Canadian o r U.S. Re stric te d Subsidiarie s that do not
provide a Subsidiary Guarante e ), and in e ac h c ase, doe s not Guarante e o r Inc ur De bt unde r any Cre dit Fac ility o r any
c apital marke ts de bt, issue d afte r the Issue Date , suc h Re stric te d Subsidiary shall not be re quire d to provide a Subsidiary
Guarante e .

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 Se c tion 4.18. Co venant T erminatio n.

(a) All of the c ove nants se t forth in Artic le 4 he re of shall be applic able to the Company and its
Re stric te d Subsidiarie s unle ss the Co mpany re ac he s Inve stme nt Grade Status . Afte r the Co mpany has re ac he d
Inve stme nt Grade Status , and notwithstanding that the Company may late r c e ase to have an Inve stme nt Grade Rating
from e ithe r o r both of the Rating Ag e nc ie s , the Company and its Re stric te d Subsidiarie s shall be re le ase d from the ir
oblig ations to c omply with Se c tions 4.0 9, 4.10 , 4.12, 4.13, 4.14 and 4.16 but shall re main oblig ate d to c omply with the
following :

(i) Se c tions 4.0 1 throug h 4.0 8;

(ii) Se c tion 4.11;

( iii) Se c tion 4.15 (othe r than c lause (x) of Se c tion 4.15(d) (and suc h c lause (x) as re fe rre d to in
Se c tion 4.15(b)(1)));

(iv) Se c tion 4.17; and

(v) Se c tion 4.19.

(b) The Company and the Subsidiary Guarantors shall also, upon re ac hing Inve stme nt Grade Status
, re main oblig ate d to c omply with Se c tion 5.0 1 (othe r than c lause s (a)(v) and (b)(v) the re unde r).

(c ) The Company shall notify the Truste e upon re ac hing Inve stme nt Grade Status .

Se c tion 4.19. Additio nal Amo unts .

(a) Payme nts made by the Company unde r o r with re spe c t to the Note s o r any of the Subsidiary
Guarantors with re spe c t to any Subsidiary Guarante e shall be made fre e and c le ar of and without withholding o r de duc tion
for or on ac c ount of any pre se nt or future tax, duty, le vy, asse ssme nt or othe r g ove rnme ntal c harg e (“Taxes”) unle ss the
withholding or de duc tion of suc h Taxe s is the n re quire d by law. If any de duc tion or withholding for, or on ac c ount of, any
Taxe s impose d o r le vie d by o r on be half of (1) any jurisdic tion in whic h the Company o r any Subsidiary Guarantor is at
any re le vant time org aniz e d, e ng ag e d in busine ss for tax purpose s or re side nt for tax purpose s or any politic al subdivision
the re of or the re in or (2) any jurisdic tion from o r throug h whic h payme nt is made by o r on be half of the Company o r any
Subsidiary Guarantor (inc luding the jurisdic tion of any paying ag e nt) or any politic al subdivision the re of o r the re in (e ac h,
a “Tax Jurisdiction ”) will at any time be re quire d to be made from any payme nts made by the Company unde r o r with
re spe c t to the Note s or any of the Subsidiary Guarantors with re spe c t to any Subsidiary Guarante e , the Company o r the
re le vant Subsidiary Guarantor , as applic able, will pay to e ac h Holde r o f Note s that are outstanding on the date of the
re quire d payme nt, suc h additional amounts (“ Additional Amounts”) as may be ne c e ssary so that the ne t amount re c e ive d
by the applic able be ne c ial owne r ( inc luding the Additional Amounts ) afte r suc h withholding o r de duc tion (inc luding any
suc h withholding or de duc tion in re spe c t of Additional Amounts ) will e qual the amount suc h be ne c ial owne r would have
re c e ive d if suc h Taxe s had not be e n withhe ld o r de duc te d; provided that no Additional Amounts will be payable with
re spe c t to a payme nt to a Holde r or be ne fic ial owne r of the Note s in re spe c t of the following Taxe s (“Excluded Taxes”):

(i) Canadian Taxe s impose d be c ause the Company doe s not de al at arm’s-le ng th (within the
me aning of the Inc ome Tax Ac t (Canada)) with suc h Holde r o r be ne c ial owne r at the time of making suc h
payme nt,

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 ( ii) Taxe s impose d by re ason of suc h Holde r o r be ne c ial owne r be ing c onne c te d with a re le vant
Tax Jurisdic tion o r any provinc e o r te rritory the re of othe rwise than by the me re holding of the No te s o r the
re c e ipt of payme nts in re spe c t of, or e nforc e me nt of, suc h Note or a Subsidiary Guarante e ,

( iii) Taxe s payable as a re sult of suc h Holde r ’s or be ne c ial owne r’s failure to c omply with a time ly
re que st of the Co mpany to c omply with any c e rti c ation, ide nti c ation, doc ume ntation o r othe r re porting
re quire me nts if c omplianc e is re quire d by law, re g ulation, administrative prac tic e o r an applic able tre aty as a
pre c ondition to e xe mption from, o r a re duc tion in the rate of de duc tion o r withholding of, Taxe s impose d by a
re le vant Tax Jurisdic tion to whic h suc h Holde r or be ne fic ial owne r is e ntitle d,

(iv) e state , inhe ritanc e , g ift, sale s, transfe r or similar Taxe s ,

(v) Taxe s in re spe c t of whic h the payme nt c ould have be e n made without de duc tion o r withholding
for suc h Taxe s if suc h Holde r or be ne c ial owne r had pre se nte d suc h Note s for payme nt within 30 days afte r the
date on whic h suc h payme nt on suc h Note s be c ame due and payable or the date on whic h payme nt the re of is duly
provide d for, whic he ve r is late r (e xc e pt to the e xte nt that suc h Holde r o r be ne c ial owne r would have be e n
e ntitle d to Additional Amounts had suc h Note s be e n pre se nte d on the last day of suc h 30 -day pe riod),

(vi) Canadian Taxe s impose d be c ause suc h payme nt is de e me d (unde r subse c tion 214(16) of the
Income Tax Act (Canada)) to be a divide nd paid by the Company to suc h Holde r o r be ne c ial owne r be c ause
s uc h Holde r o r be ne c ial owne r is a “spe c i e d share holde r” (within the me aning of subse c tion 18(5) of the
Income Tax Act (Canada)),

(vii) any withholding o r de duc tion impose d pursuant to Se c tions 1471 throug h 1474 of the Code or
any ame nde d or suc c e ssor ve rsion that is substantive ly c omparable and not mate rially more one rous to c omply
with, any c urre nt or future re g ulations or of c ial inte rpre tations the re of, and any ag re e me nt e nte re d into pursuant
to c urre nt S e c tio n 1471(b)(1) of the Co de o r any ame nde d o r suc c e ssor provision that is substantive ly
c omparable and not mate rially more one rous to c omply with, or

(viii) any c ombination of the Taxe s de sc ribe d in the above c lause s in this proviso.

(b) If it is the applic able withholding ag e nt, the Company or the re le vant Subsidiary Guarantor shall
also:

(i) make suc h withholding or de duc tion, and

(ii) re mit the full amount de duc te d or withhe ld to the re le vant authority in ac c ordanc e with applic able
law.

(c ) The Company or the re le vant Subsidiary Guarantor will furnish, within 30 days afte r the date on
whic h the payme nt of any Taxe s is due pursuant to applic able law, to the truste e on be half of the Holde rs of Note s that are
outstanding on the date of the re quire d payme nt, c opie s of tax re c e ipts, if any (o r othe r doc ume ntation), e vide nc ing the
payme nts of Taxe s made by the Company , o r a Subsidiary Guarantor , as the c ase may be on be half of the Holde rs or
be ne c ial owne rs of the Note s . The Company and the Subsidiary Guarantors will inde mnify and hold harmle ss e ac h
Holde r (for itse lf and its applic able be ne c ial owne rs) and upon writte n re que st re imburse e ac h suc h Ho lde r for the
amount of:

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 (i) any Taxe s (othe r than Exc lude d Taxe s ) so le vie d or impose d by a re le vant Tax Jurisdic tion and
paid by suc h Holde r or be ne c ial owne rs as a re sult of payme nts made unde r or with re spe c t to the Note s o r any
Subsidiary Guarante e ,

(ii) any liability ( inc luding pe naltie s, inte re st and e xpe nse ) arising the re from or with re spe c t the re to,
and

(iii) any Taxe s (othe r than Exc lude d Taxe s ) impose d by a re le vant Tax Jurisdic tion with re spe c t to
any re imburse me nt unde r c lause (c )(i) or (ii) above .

In addition to the fore g oing , the Company and the Subsidiary Guarantors will also pay and inde mnify
e ac h Holde r (for itse lf and its applic able be ne c ial owne rs) for any pre se nt o r future stamp, issue, re g istration, transfe r,
c ourt or doc ume ntary taxe s, or any othe r e xc ise or prope rty taxe s, c harg e s or similar le vie s (inc luding pe naltie s, inte re st
and any othe r liabilitie s re late d the re to) whic h are le vie d by any re le vant Tax Jurisdic tion on the e xe c ution, de live ry,
issuanc e , or re g istration of any of the Note s , this Inde nture , any Subsidiary Guarante e o r any othe r doc ume nt re fe rre d
to the re in, o r the re c e ipt of any payme nts with re spe c t the re to, o r e nforc e me nt of, any of the Note s o r a ny Subsidiary
Guarante e .

(d) At le ast 30 days prior to e ac h date on whic h any payme nt unde r or with re spe c t to the Note s is
due and payable (unle ss suc h oblig ation to pay Additional Amounts arise s shortly be fore o r afte r the 30 th day prior to
suc h date, in whic h c ase it shall be promptly the re afte r), if the Company or a Subsidiary Guarantor be c ome s oblig ate d to
pay Additional Amounts with re spe c t to suc h payme nt, the Company or the re le vant Subsidiary Guarantor , as applic able,
shall de live r to the Truste e an Offic e rs ’ Ce rtific ate stating the fac t that suc h Additional Amounts shall be payable, and the
amounts so payable and shall se t forth suc h othe r information as is ne c e ssary to e nable the Truste e to pay suc h Additional
Amounts to the Holde rs of the No te s on the payme nt date. Whe ne ve r in this Inde nture the re is me ntione d, in any
c onte xt:

(i) the payme nt of princ ipal (and pre mium, if any),

(ii) purc hase pric e s in c onne c tion with a re purc hase of Note s ,

(iii) inte re st, or

(iv) any othe r amount payable on or with re spe c t to any of the Note s or any Subsidiary Guarante e ,

suc h me ntion shall be de e me d to inc lude me ntion of the payme nt of Additional Amounts provide d for in this Se c tion 4.19
to the e xte nt that, in suc h c onte xt, Additional Amounts are , we re or would be payable in re spe c t the re of.

(e ) The oblig ations in this Se c tion 4.19 will survive any te rmination, de fe asanc e or disc harg e of this
Inde nture , any transfe r by a Holde r or be ne fic ial owne r of its Note s , and will apply, mutatis mutandis, to any jurisdic tion in
whic h any suc c e ssor P e rs on to the Company o r a ny Subsidiary Guarantor is org aniz e d, e ng ag e d in busine ss for tax
purpose s or re side nt for tax purpose s or any jurisdic tion from o r throug h whic h suc h P e rson make s any payme nt on the
Note s (or any Subsidiary Guarante e ) or any politic al subdivision the re of or the re in.

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 ART ICLE 5.

SUCCESSORS

Se c tion 5.0 1. Merg er, Co nso lidatio n and Sale o f Assets.

(a) The Company shall not me rg e, c onsolidate, liquidate, dissolve, wind-up o r amalg amate with or
into any othe r Pe rson or se ll, transfe r, assig n, le ase, c onve y or othe rwise dispose of all or substantially all its P rope rty in
any one transac tion or se rie s of transac tions unle ss:

(i) the Co mpany shall be the Surviving Pe rson in suc h me rg e r, c onsolidation, liquidation,
dissolution, winding -up o r amalg amation, o r the Surviving Pe rson (if othe r than the Company ) forme d by suc h
me rg e r, c onsolidation, liquidation, dissolution, winding -up o r amalg amation o r to whic h suc h sale, transfe r,
assig nme nt, le ase, c onve yanc e o r disposition is made shall be a c orporation org aniz e d and e xisting unde r the
fe de ral laws of Canada or the laws of any provinc e the re of or the laws of the U nite d State s of Ame ric a, any State
the re of or the Distric t of Columbia;

(ii) the Surviving Pe rson (if othe r than the Company ) e xpre ssly assume s, by supple me ntal inde nture ,
e xe c ute d and de live re d to the Truste e by suc h Surviving Pe rson , the due and punc tual payme nt of the princ ipal
of, and pre mium, if any, and ac c rue d and unpaid inte re st on, all the Note s , ac c ording to the ir te nor, and the due
and punc tual pe rformanc e and obse rvanc e of all the c ove nants and c onditions of this Inde nture to be pe rforme d
by the Company ;

(iii) in the c ase of a sale, transfe r, assig nme nt, le ase, c onve yanc e o r o the r disposition of all or
substantially all the P rope rty of the Company , suc h P ro pe rty shall have be e n transfe rre d as an e ntire ty or
virtually as an e ntire ty to one Pe rson ;

(iv) imme diate ly be fore and afte r g iving e ffe c t to suc h transac tion or se rie s of transac tions on a pro
forma basis (and tre ating , for purpose s of this c lause (iv) and c lause (v) be low, any De bt that be c ome s, o r is
antic ipate d to be c ome, an oblig ation of the Surviving Pe rson o r a ny Re stric te d Subsidiary as a re sult of suc h
trans ac tion o r se rie s of transac tions as having be e n Inc urre d by the Surviving Pe rson o r s uc h Re stric te d
Subsidiary at the time of suc h transac tion o r se rie s of transac tions), no De fault o r Eve nt of De fault shall have
oc c urre d and be c ontinuing ;

(v) imme diate ly afte r g iving e ffe c t to suc h transac tion or se rie s of transac tions on a pro forma basis,
e ithe r (i) the Company o r the Surviving Pe rson , as the c ase may be, would be able to Inc ur at le ast $1.0 0 of
additional De bt unde r c lause (a)(i) of Se c tion 4.0 9 he re of or (ii) the Consolidate d Inte re st Cove rag e Ratio of the
Company or the Surviving Pe rson , as the c ase may be, would be e qual to or g re ate r than suc h ratio imme diate ly
prior to suc h transac tion; and

(vi) the Company shall de live r, or c ause to be de live re d, to the Truste e , an Offic e rs ’ Ce rti c ate and
a n Opinion of Counse l , e ac h stating that suc h transac tion and the supple me ntal inde nture, if any, with re spe c t
the re to c omply with this Se c tion 5.0 1 and that all c onditions pre c e de nt he re in pro vide d for re lating to suc h
transac tion have be e n satisfie d.

(b) The Company shall not pe rmit any Subsidiary Guarantor to me rg e, c onsolidate, liquidate,
dissolve, wind-up o r amalg amate with o r into any othe r P e rs on o r se ll, transfe r, assig n, le ase, c onve y o r othe rwise
dispose of all or substantially all its Prope rty in any one transac tion or se rie s of transac tions unle ss:

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 (i) the Surviving Pe rson (if not suc h Subsidiary Guarantor ) forme d by suc h me rg e r, c onsolidation,
liquidation, dissolution, winding -up o r a ma lg a ma tio n o r to whic h suc h sale, transfe r, assig nme nt, le ase,
c onve yanc e o r disposition is made shall org aniz e d and e xisting unde r the fe de ral laws of Canada o r the laws of
any provinc e the re of or the laws of the U nite d State s of Ame ric a, any State the re of or the Distric t of Columbia;

(ii) the Surviving Pe rson (if othe r than suc h Subsidiary Guarantor ) e xpre ssly assume s, by
supple me ntal inde nture providing for a Subsidiary Guarante e , e xe c ute d and de live re d to the Trus te e by suc h
Surviving Pe rson , the due and punc tual pe rformanc e and obse rvanc e of all the oblig ations of suc h Subsidiary
Guarantor unde r its Subsidiary Guarante e ;

(iii) in the c ase of a sale, transfe r, assig nme nt, le ase, c onve yanc e o r o the r disposition of all or
substantially all the P rope rty of suc h Subsidiary Guarantor , suc h P rope rty shall have be e n transfe rre d as an
e ntire ty or virtually as an e ntire ty to one Pe rson ;

(iv) imme diate ly be fore and afte r g iving e ffe c t to suc h transac tion or se rie s of transac tions on a pro
forma basis (and tre ating , for purpose s of this c lause (iv) and c lause (v) be low, any De bt that be c ome s, o r is
antic ipate d to be c ome, an oblig ation of the Surviving Pe rson , the Company o r a ny Re stric te d Subsidiary as a
re sult of suc h transac tion o r se rie s of transac tions as having be e n Inc urre d by the Surviving Pe rson , the
Company o r s uc h Re stric te d Subsidiary at the time of suc h transac tion o r se rie s of transac tions), no De fault or
Eve nt of De fault shall have oc c urre d and be c ontinuing ;

(v) imme diate ly afte r g iving e ffe c t to suc h transac tion or se rie s of transac tions on a pro forma basis,
e ithe r (i) the Company would be able to Inc ur at le ast $1.0 0 of additional De bt unde r c lause (a)(i) of Se c tion 4.0 9
he re of o r (ii) the Consolidate d Inte re st Cove rag e Ratio of the Company would be e qual to o r g re ate r than suc h
ratio imme diate ly prior to suc h transac tion; and

(vi) the Company shall de live r, or c ause to be de live re d, to the Truste e a n Offic e rs ’ Ce rti c ate and
a n Opinion of Counse l , e ac h stating that suc h transac tion and suc h Subsidiary Guarante e , if any, with re spe c t
the re to c omply with this Se c tion 5.0 1 and that all c onditions pre c e de nt he re in pro vide d for re lating to suc h
transac tion have be e n satisfie d.

(c ) This Se c tion 5.0 1 shall not prohibit any Subsidiary Guarantor from c onsolidating with, me rg ing
into o r transfe rring all o r part of its asse ts to the Company o r any othe r Canadian o r U.S. Subsidiary Guarantor. In
addition, the fore g oing provisions (othe r than c lause (iv) in parag raphs (a) and (b) of this Se c tion 5.0 1) shall not apply to
(i) any transac tions whic h c onstitute an Asse t Sale (or would c onstitute an Asse t Sale , but for the transac tion falling within
the list of e xc e ptions within the de nition of “Asse t Sale ”) if the Company has not violate d Se c tion 4.12 he re of, e ffe c tive
upon c onsummation of suc h Asse t Sale (o r othe r qualifying transac tion re fe re nc e d within this c lause (i)), with the
Company the re afte r re quire d to apply any Ne t Available Cash as so re quire d the re unde r and (ii) any transac tions whic h
re sult in the re le ase of a Subsidiary Guarantor as de sc ribe d in Se c tion 10 .0 5 he re of.

Se c tion 5.0 2. Suc c esso r Co rpo ratio n Substituted.

The Surviving Pe rson , if applic able, shall suc c e e d to, and be substitute d for, and may e xe rc ise e ve ry
rig ht and powe r of the Company unde r this Inde nture (or of the Subsidiary Guarantor unde r the Subsidiary Guarante e , as
the c ase may be ), but the pre de c e ssor Company in the c ase of:

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 (a) a sale, transfe r, assig nme nt, c onve yanc e o r o the r disposition (unle ss suc h sale, transfe r,
assig nme nt, c onve yanc e or othe r disposition is of all the asse ts of the Company as an e ntire ty o r virtually as an
e ntire ty), or

(b) a le ase ,

shall not be re le ase d from any of the oblig ations or c ove nants unde r this Inde nture , inc luding with re spe c t to the payme nt
of the Note s .

ART ICLE 6 .

DEFAULT S AND REMEDIES

Se c tion 6.0 1. Events o f Default .

(a) Eac h of the following is an “Event of Default ”:

(i) failure to make the payme nt of any inte re st ( inc luding Additional Amounts) on the Note s whe n
the same be c ome s due and payable , and suc h failure c ontinue s for a pe riod of 30 days;

(ii) failure to make the payme nt of any princ ipal of, or pre mium, if any, on, any of the Note s whe n the
same be c ome s due and payable at its State d Maturity , upon ac c e le ration, re de mption, optional re de mption,
re quire d re purc hase or othe rwise ;

(iii) failure to c omply with the provisions of Se c tion 5.0 1 he re of and suc h failure c ontinue s for a
pe riod of 30 days;

(iv) failure to make a Chang e of Control Offe r pursuant to Se c tion 4.16 he re of;

(v) failure to make an Asse t Sale Offe r pursuant to Se c tion 4.12 he re of, and suc h failure c ontinue s
for 30 days afte r writte n notic e is g ive n to the Company as provide d be low;

(vi) failure to c omply with the provisions of Se c tion 4.0 3 he re of and suc h failure c ontinue s for a
pe riod of 120 days afte r writte n notic e is g ive n to the Company as provide d be low;

(vii) failure to c omply with any othe r c ove nant or ag re e me nt in the Note s o r in this Inde nture (othe r
than a failure that is the subje c t of the fore g oing c lause (i), (ii), (iii), (iv), (v) or (vi)) and suc h failure c ontinue s for
60 days afte r writte n notic e is g ive n to the Company as provide d be low;

(viii) a de fault unde r any De bt for mone y borrowe d by the Company or any Re stric te d Subsidiary that
re sults in ac c e le ration of the maturity of suc h De bt , or failure to pay any suc h De bt at maturity, in an ag g re g ate
amount g re ate r than $75.0 million o r its fore ig n c urre nc y e quivale nt at the time and suc h ac c e le ration has not
be e n re sc inde d or annulle d within te n Busine ss Days afte r the date of suc h ac c e le ration;

(ix) any judg me nt o r judg me nts for the payme nt of mone y in an ag g re g ate amount in e xc e ss of
$75.0 million (o r its fore ig n c urre nc y e quivale nt at the time ) that shall be re nde re d ag ainst the Company o r any
Re stric te d Subsidiary and that shall not be waive d, satisfie d (ne t of

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 any amounts that are re duc e d by insuranc e o r bonde d) o r disc harg e d for any pe riod of 60 c onse c utive days
during whic h a stay of e nforc e me nt shall not be in e ffe c t;

(x) the Company or any of its Sig nific ant Subsidiarie s :

(A) c omme nc e s a voluntary c ase or g ive s notic e of inte ntion to make a proposal unde r any
Bankruptc y Law ;

(B) c onse nts to the e ntry of an orde r for re lie f ag ainst it in an involuntary c ase or c onse nts to
its dissolution or winding -up;

(C) c onse nts to the appointme nt of a c ustodian of it o r for all o r substantially all of its
prope rty;

(D) make s a g e ne ral assig nme nt for the be ne fit of its c re ditors;

(E) admits in writing its inability to pay its de bts as the y be c ome due or othe rwise admits its
insolve nc y; or

(F) se e ks a stay of proc e e ding s ag ainst it o r propos e s o r g ive s notic e of inte ntion to
propose a c ompromise, arrang e me nt o r re org aniz ation of any of its de bts o r oblig ations unde r any
Bankruptc y Law ;

(xi) a c ourt of c ompe te nt jurisdic tion e nte rs an orde r or de c re e unde r any Bankruptc y Law that:

(A) is for re lie f ag ainst the Company o r any of its Sig ni c ant Subsidiarie s in an involuntary
c ase ; or

(B) appoints a re c e ive r, inte rim re c e ive r, re c e ive r and manag e r, liquidator, truste e or
c ustodian of the Co mpany o r any of its Sig ni c ant Subsidiarie s o r for all o r substantially all of the
prope rty of the Company or any of its Sig nific ant Subsidiarie s ;

(C) orde rs the liquidation dissolution or winding -up of the Company o r any of its Sig nific ant
Subsidiarie s ; or

(D) orde rs the pre se ntation of any plan or arrang e me nt, c ompromise o r re org aniz ation of
the Company or any of its Sig ni c ant Subsidiarie s o r any g roup of subsidiarie s that whe n take n tog e the r
would c onstitute Sig nific ant Subsidiarie s ;

and the orde r or de c re e re mains unstaye d and in e ffe c t for 60 c onse c utive days; and

(xii) any Subsidiary Guarante e of one or more Subsidiary Guarantors , whic h by the mse lve s o r take n
tog e the r would c onstitute a Sig nific ant Subsidiary , c e ase s to be in full forc e and e ffe c t (othe r than in ac c ordanc e
with the te rms of suc h Subsidiary Guarante e o r this Inde nture ) o r a ny Subsidiary Guarantor of one o r more
Subsidiary Guarantors , whic h by the mse lve s or take n tog e the r would c onstitute a Sig ni c ant Subsidiary , de nie s
or disaffirms its oblig ations unde r its Subsidiary Guarante e .

A De fault unde r c lause (v), (vi), (vii) or (viii) is not an Eve nt of De fault until the truste e o r the holde rs of
not le ss than 25% in ag g re g ate princ ipal amount of the Note s the n outstanding notify the

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Company of the De fault and the Company doe s not c ure suc h De fault within the time spe c ifie d afte r re c e ipt of suc h notic e .
Suc h notic e must spe c ify the De fault , de mand that it be re me die d and state that suc h notic e is a “Notic e of De fault.”

Se c tion 6.0 2. Ac c eleratio n.

If any Eve nt of De fault (othe r than those of the type de sc ribe d in Se c tion 6.0 1(x) o r (xi)) shall have
oc c urre d and is c ontinuing , the Truste e may, and the Truste e upon the re que st of Holde rs of 25% in princ ipal amount of
the outstanding Note s shall, o r the Holde rs of at le ast 25% in princ ipal amount of outstanding No te s may, de c lare the
princ ipal of all the Note s , tog e the r with all ac c rue d and unpaid inte re st, pre mium, if any, to be due and payable by notic e in
writing to the Company and the Truste e spe c ifying the re spe c tive Eve nt of De fault and that suc h notic e is a notic e of
ac c e le ration (the “Acceleration Notice”), and the same shall be c ome imme diate ly due and payable .

In the c ase of an Eve nt of De fault spe c i e d in Se c tion (x) o r (xi) of Se c tion 6.0 1 he re of, suc h amount
with re spe c t to all the Note s will be c ome due and payable imme diate ly without any de c laration or othe r ac t on the part of
the Truste e or the Holde rs of the Note s . Holde rs may not e nforc e this Inde nture or the Note s e xc e pt as provide d in this
Inde nture .

At any time afte r a de c laration of ac c e le ration with re spe c t to the Note s , but be fore a judg me nt or
de c re e base d on ac c e le ration is obtaine d by the Truste e , the Holde rs of a majority in princ ipal amount of the Note s the n
outstanding (by notic e to the Truste e ) may re sc ind and c anc e l that de c laration and its c onse que nc e s if:

(a) the re sc ission would not c on ic t with any judg me nt o r de c re e of a c ourt of c ompe te nt
jurisdic tion;

(b) all e xisting De faults and Eve nts of De fault have be e n c ure d o r waive d e xc e pt nonpayme nt of
princ ipal of or inte re st on the Note s that has be c ome due sole ly by suc h de c laration of ac c e le ration;

(c ) to the e xte nt the payme nt of suc h inte re st is lawful, inte re st (at the same rate spe c i e d in the
Note s ) on ove rdue installme nts of inte re st and ove rdue payme nts of princ ipal whic h has be c ome due othe rwise
than by suc h de c laration of ac c e le ration has be e n paid;

(d) the Company has paid the Truste e its re asonable c ompe nsation and re imburse d the Truste e for
its re asonable e xpe nse s, disburse me nts and advanc e s; and

(e ) in the e ve nt of the c ure or waive r of an Eve nt of De fault of the type de sc ribe d in Se c tion 6.0 1(x)
or (xi), the Truste e has re c e ive d an Offic e rs ’ Ce rti c ate and Opinion of Counse l that suc h Eve nt of De fault has
be e n c ure d or waive d.

In the c ase of an Eve nt of De fault oc c urring by re ason of any willful ac tion or inac tion take n or not take n
by the Company o r on the Company ’s be half with the inte ntion of avoiding payme nt of the pre mium that the Company
would have be e n re quire d to pay if the Company had the n e le c te d to re de e m the Note s pursuant to Se c tion 3.0 7 he re of,
an e quivale nt pre mium will also be c ome and be imme diate ly due and payable to the e xte nt pe rmitte d by law upon the
ac c e le ration of the Note s . If an Eve nt of De fault oc c urs prior to July 15, 20 18, by re ason of any willful ac tion o r inac tion
ta ke n o r not take n by the Co mpany o r on the Company ’s be half with the inte ntion of avoiding the prohibition on
re de mption of the Note s prior to July 15, 20 18, the n the pre mium spe c i e d in Se c tion 3.0 7 will also be c ome imme diate ly
due and payable to the e xte nt pe rmitte d by law upon ac c e le ration of the Note s .

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 Se c tion 6.0 3. Other Remedies.

If an Eve nt of De fault oc c urs and is c ontinuing , the Truste e may pursue any available re me dy to c olle c t
the payme nt of princ ipal, pre mium, if any, and inte re st on the Note s or to e nforc e the pe rformanc e of any provision of the
Note s or this Inde nture .

The Truste e may maintain a proc e e ding e ve n if it doe s not posse ss any of the Note s or doe s not produc e
any of the m in the proc e e ding . A de lay o r omission by the Trus te e o r a ny Holde r in e xe rc ising any rig ht o r re me dy
ac c ruing upon an Eve nt of De fault shall not impair the rig ht o r re me dy o r c onstitute a waive r of o r ac quie sc e nc e in the
Eve nt of De fault . All re me die s are c umulative to the e xte nt pe rmitte d by law.

Se c tion 6.0 4. Waiver o f P ast Defaults.

The Holde rs of a majority in princ ipal amount of the Note s may waive by c onse nt ( inc luding , without
limitation, c onse nts obtaine d in c onne c tion with a purc hase of, o r te nde r offe r o r e xc hang e offe r for, Note s ) any the n
e xisting o r pote ntial De fault and its c onse que nc e s, e xc e pt a de fault in the payme nt of the princ ipal of o r inte re st on any
Note s . In the e ve nt of any Eve nt of De fault spe c i e d in c lause (a)(vii) of Se c tion 6.0 1 he re of, suc h Eve nt of De fault and
all c onse que nc e s of that Eve nt of De fault , inc luding without limitation any ac c e le ration o r re sulting payme nt de fault, will
be annulle d, waive d and re sc inde d, automatic ally and without any ac tion by the Truste e o r the Holde rs of the Note s , if
within 60 days afte r the Eve nt of De fault arose :

(a) the De bt that is the basis for the Eve nt of De fault has be e n disc harg e d;

(b) the holde rs of that De bt have re sc inde d or waive d the ac c e le ration, notic e or ac tion, as the c ase
may be , g iving rise to the Eve nt of De fault ; or

(c ) if the de fault that is the basis for suc h Eve nt of De fault has be e n c ure d.

Whe n a De fault or Eve nt of De fault is waive d, it is de e me d c ure d, but no suc h waive r shall e xte nd to any
subse que nt or othe r De fault or Eve nt of De fault or impair any c onse que nt rig ht.

Se c tion 6.0 5. Co ntro l by Majo rity.

Subje c t to S e c tio n 7 . 0 1 , S e c tio n 7.0 2(f) (inc luding t h e Truste e ’s re c e ipt of the se c urity or
inde mni c ation de sc ribe d the re in) and Se c tion 7.0 7, in c ase an Eve nt of De fault shall oc c ur and be c ontinuing , the
Holde rs of a majority in ag g re g ate princ ipal amount of the Note s the n outstanding will have the rig ht to dire c t the time,
me thod and plac e of c onduc ting any proc e e ding for any re me dy available to the Truste e or e xe rc ising any trust o r powe r
c onfe rre d on the Truste e with re spe c t to the Note s .

Se c tion 6.0 6. Limitatio n o n Suits.

N o Holde r will have any rig ht to institute any proc e e ding with re spe c t to this Inde nture , o r for the
appointme nt of a re c e ive r or truste e , or for any re me dy the re unde r, unle ss:

(a) suc h Holde r has pre viously g ive n to the Truste e writte n notic e of a c ontinuing Eve nt of De fault ,

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 ( b) Holde rs of at le ast 25% in ag g re g ate princ ipal amount of the Note s the n outstanding have made
a writte n re que st and offe re d inde mnity to the Truste e to institute suc h proc e e ding as truste e , and

(c ) the Truste e shall not have re c e ive d from the Holde rs of a majority in ag g re g ate princ ipal amount
of the Note s the n outstanding a dire c tion inc onsiste nt with suc h re que st and shall have faile d to institute suc h
proc e e ding within 60 days.

A Holde r may not use this Inde nture to affe c t, disturb o r pre judic e the rig hts of anothe r Holde r o r to
obtain a pre fe re nc e or priority ove r anothe r Holde r .

Se c tion 6.0 7. Rig hts o f Ho lders to Rec eive P ayment.

Notwithstanding any othe r provision of this Inde nture (inc luding , without limitation, Se c tion 6.0 6), the
rig ht of any Holde r to re c e ive payme nt of princ ipal, pre mium, if any, and inte re st on the Note s he ld by suc h Holde r , on or
afte r the re spe c tive due date s e xpre sse d in the Note s (inc luding in c onne c tion with an offe r to purc hase ), o r to bring suit
for the e nforc e me nt of any suc h payme nt on or afte r suc h re spe c tive date s, shall not be impaire d o r affe c te d without the
c onse nt of suc h Holde r .

Se c tion 6.0 8. Co llec tio n Suit by T rustee .

If an Eve nt of De fault spe c i e d in S e c tio n 6.0 1(i) o r (ii) oc c urs and is c ontinuing , the Trus te e is
authoriz e d to re c ove r judg me nt in its own name and as truste e of an e xpre ss trust ag ainst the Company for the whole
amount of princ ipal of, pre mium, if any, and inte re st the n due and owing (tog e the r with inte re st on ove rdue princ ipal and,
to the e xte nt lawful, inte re st) and suc h furthe r amount as shall be suf c ie nt to c ove r the c osts and e xpe nse s of c olle c tion,
inc luding the re asonable c ompe nsation, e xpe nse s, disburse me nts and advanc e s of the Truste e , its ag e nts and c ounse l.

Se c tion 6.0 9. T rustee May File P ro o fs o f Claim.

T h e Trus te e is authoriz e d to le suc h proofs of c laim and othe r pape rs o r doc ume nts as may be
ne c e ssary or advisable in orde r to have the c laims of the Truste e (inc luding any c laim for the re asonable c ompe nsation,
e xpe nse s, disburse me nts and advanc e s of the Truste e , its ag e nts and c ounse l) and the Holde rs allowe d in any judic ial
proc e e ding s re lative to the Company , the Subsidiary Guarantors (o r any othe r oblig or upon the Note s ), the ir c re ditors
o r the ir prope rty and shall be e ntitle d and e mpowe re d to partic ipate as a me mbe r, voting o r othe rwise, of any of c ial
c ommitte e of c re ditors appointe d in suc h matte r and shall be e ntitle d and e mpowe re d to c olle c t, re c e ive and distribute any
mone y or othe r prope rty payable o r de live rable on any suc h c laims and any c ustodian in any suc h judic ial proc e e ding is
he re by authoriz e d by e ac h Holde r to make suc h payme nts to the Truste e , and in the e ve nt that the Truste e shall c onse nt
to the making of suc h payme nts dire c tly to the Holde rs , to pay to the Truste e any amount due to it for the re asonable
c ompe nsation, e xpe nse s, disburse me nts and advanc e s of the Truste e , its ag e nts and c ounse l, and any othe r amounts due
the Truste e unde r Se c tion 7.0 7 he re of. To the e xte nt that any suc h c ompe nsation, e xpe nse s and advanc e s of the Truste e
and its ag e nts and c ounse l, and any othe r amounts due the Truste e unde r Se c tion 7.0 7 he re of out of the e state in any suc h
proc e e ding , shall be de nie d for any re ason, payme nt of the same shall be se c ure d by a Lie n on, and shall be paid out of,
any and all distributions, mone ys, se c uritie s and any othe r prope rtie s that the Holde rs may be e ntitle d to re c e ive in suc h
proc e e ding whe the r in liquidation or any plan of re org aniz ation o r arrang e me nt o r othe rwise. Nothing he re in c ontaine d
shall be de e me d to authoriz e the Truste e to authoriz e or c onse nt to or ac c e pt o r adopt on be half of any Holde r any plan
of re org aniz ation, arrang e me nt, adjustme nt o r c omposition affe c ting the No te s o r the rig hts of any Holde r , o r to
authoriz e the Truste e to vote in re spe c t of the c laim of any Holde r in any suc h proc e e ding .

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 Se c tion 6.10 . P rio rities.

If the Truste e c olle c ts any mone y pursuant to this Artic le 6, it shall pay out the mone y in the following
orde r:

First: to the Truste e , its ag e nts and attorne ys for amounts due unde r Se c tion 7.0 7 he re of, inc luding
payme nt of all c ompe nsation, e xpe nse s and liabilitie s inc urre d, and all advanc e s made, by the Trus te e and the
c osts and e xpe nse s of c olle c tion;

Second: to Holde rs for amounts due and unpaid on the Note s for princ ipal, pre mium, if any, and inte re st,
ratably, without pre fe re nc e o r priority of any kind, ac c ording to the amounts due and payable on the No te s for
princ ipal, pre mium, if any, and inte re st, re spe c tive ly; and

Third: to the Company or to suc h party as a c ourt of c ompe te nt jurisdic tion shall dire c t.

The Truste e may x a re c ord date and payme nt date for any payme nt to Holde rs pursuant to this Se c tion
6.10 .

Se c tion 6.11. Undertaking fo r Co sts.

In any suit for the e nforc e me nt of any rig ht o r re me dy unde r this Inde nture o r in any suit ag ainst the
Truste e for any ac tion take n o r omitte d by it as a Truste e , a c ourt in its disc re tion may re quire the ling by any party
litig ant in the suit of an unde rtaking to pay the c osts of the suit, and the c ourt in its disc re tion may asse ss re asonable c osts,
inc luding re asonable attorne ys’ fe e s, ag ainst any party litig ant in the suit, having due re g ard to the me rits and g ood faith
of the c laims or de fe nse s made by the party litig ant. This Se c tion 6.11 doe s not apply to a suit by the Truste e , a suit by the
Company , a suit by a Holde r pursuant to Se c tion 6.0 7 he re of, or a suit by Holde rs of more than 10 % in princ ipal amount
of the the n outstanding Note s .

ART ICLE 7.

T RUST EE

Se c tion 7.0 1. Duties o f T rustee .

(a) If an Eve nt of De fault whic h the Trus te e has, o r is de e me d to have, notic e he re unde r has
oc c urre d and is c ontinuing , the Truste e shall e xe rc ise suc h of the rig hts and powe rs ve ste d in it by this Inde nture , and use
the same de g re e of c are and skill in its e xe rc ise, as a prude nt Pe rson would e xe rc ise or use unde r the c irc umstanc e s in the
c onduc t of suc h Pe rson ’s own affairs.

(b) Exc e pt during the c ontinuanc e of an Eve nt of De fault :

(1) the dutie s of the Truste e shall be de te rmine d sole ly by the e xpre ss provisions of this Inde nture
and the Truste e unde rtake s to pe rform only those dutie s that are spe c i c ally se t forth in this Inde nture and no
othe rs, and no implie d c ove nants or oblig ations shall be re ad into this Inde nture ag ainst the Truste e ; and

(2) in the abse nc e of bad faith on its part, the Truste e may c onc lusive ly re ly, as to the truth of the
state me nts and the c orre c tne ss of the opinions e xpre sse d the re in, upon c e rti c ate s o r opinions furnishe d to the
Truste e and c onforming to the re quire me nts of this Inde nture ; provided , however, that in the c ase of any suc h
c e rtific ate s or opinions whic h are spe c ific ally re quire d to be

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 furnishe d to the Truste e pursuant to this Inde nture , the Trus te e shall e xamine the c e rti c ate s and opinions to
de te rmine whe the r or not the y c onform to the re quire me nts of this Inde nture (but ne e d not c on rm o r inve stig ate
the ac c urac y of mathe matic al c alc ulations or othe r fac ts state d the re in or othe rwise ve rify the c onte nts the re of).

(c ) The Truste e may not be re lie ve d from liabilitie s for its own ne g lig e nt ac tion, its own ne g lig e nt
failure to ac t, or its own willful misc onduc t, e xc e pt that:

(1) this parag raph doe s not limit the e ffe c t of parag raph (b) of this Se c tion;

(2) the Truste e shall not be liable for any e rror of judg me nt made in g ood faith by a Re sponsible
Offic e r , unle ss it is prove d that the Truste e was ne g lig e nt in asc e rtaining the pe rtine nt fac ts;

(3) the Truste e shall not be liable with re spe c t to any ac tion it take s or omits to take in g ood faith in
ac c ordanc e with a dire c tion re c e ive d by it pursuant to Se c tion 6.0 5 he re of; and

(4) no provision of this Inde nture shall re quire the Truste e to e xpe nd o r risk its own funds o r inc ur
any liability.

(d) Whe the r or not the re in e xpre ssly so provide d , e ve ry provision of this Inde nture that in any way
re late s to the Truste e is subje c t to parag raphs (a), (b) and (c ) of this Se c tion.

(e ) Exc e pt for information provide d by the Truste e c onc e rning the Truste e , the Truste e shall have
no re sponsibility for any information in any prospe c tus or othe r disc losure mate rial distribute d with re spe c t to the Note s .

Se c tion 7.0 2. Rig hts o f T rustee .

(a) The Truste e may c onc lusive ly re ly and shall be prote c te d in ac ting or re fraining from ac ting upon
any doc ume nt be lie ve d by it to be g e nuine and to have be e n sig ne d or pre se nte d by the prope r Pe rson . The Truste e ne e d
not inve stig ate any fac t or matte r state d in any suc h doc ume nt. Any fac simile or portable doc ume nt format sig nature of
any Pe rson on a doc ume nt re quire d or pe rmitte d in this Inde nture to be de live re d to the Truste e shall c onstitute a valid and
binding e xe c ution the re of by suc h Pe rson .

(b) Be fore the Truste e ac ts o r re frains from ac ting , it may re quire an Offic e rs ’ Ce rti c ate o r an
Opinion of Counse l or both. The Truste e shall not be liable for any ac tion it take s or omits to take in g ood faith in re lianc e
on suc h Offic e rs ’ Ce rtific ate or Opinion of Counse l . The Truste e may c onsult with c ounse l of its c hoic e and the advic e of
suc h c ounse l or any Opinion of Counse l shall be full and c omple te authoriz ation and prote c tion from liability in re spe c t of
any ac tion take n, suffe re d or omitte d by it he re unde r in g ood faith and in re lianc e the re on.

(c ) The Truste e may e xe c ute any of the trusts or powe rs he re unde r or pe rform any dutie s he re unde r
e ithe r dire c tly o r b y o r throug h ag e nts o r attorne ys, and the Trus te e shall not be re sponsible for the misc onduc t or
ne g lig e nc e of any ag e nt or attorne y appointe d with due c are .

(d) The Truste e shall not be liable for any ac tion it take s or omits to take in g ood faith that it be lie ve s
to be authoriz e d or within the rig hts or powe rs c onfe rre d upon it by this Inde nture , provided , however that the Truste e ’s
c onduc t doe s not c onstitute willful misc onduc t or ne g lig e nc e .

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 (e ) U nle ss othe rwise spe c i c ally provide d in this Inde nture , any de mand, re que st, dire c tion or
notic e from the Company shall be suffic ie nt if sig ne d by an Offic e r of the Company .

(f) The Truste e shall be unde r no oblig ation to e xe rc ise any of the rig hts or powe rs ve ste d in it by
this Inde nture at the re que st o r dire c tion of any of the Holde rs unle ss suc h Holde rs shall have offe re d to the Truste e
s e c urity o r inde mnity re asonably satisfac tory to the Trus te e ag ainst the c osts, e xpe nse s and liabilitie s that mig ht be
inc urre d by it in c omplianc e with suc h re que st or dire c tion.

(g ) The Truste e shall not be de e me d to have notic e of any De fault o r Eve nt of De fault unle ss a
Re sponsible Of c e r of the Truste e has re c e ive d writte n notic e of any e ve nt whic h is in fac t suc h a De fault o r Eve nt of
De fault from the Company o r the Holde rs of 25% in ag g re g ate princ ipal amount of the outstanding Note s , and suc h
notic e re fe re nc e s the spe c i c De fault or Eve nt of De fault , the Note s and this Inde nture and, in the abse nc e of any suc h
notic e , the Truste e may c onc lusive ly assume that no suc h De fault or Eve nt of De fault e xists.

(h) Mone y he ld by the Truste e in trust he re unde r ne e d not be se g re g ate d from othe r funds e xc e pt to
the e xte nt re quire d by law. The Truste e shall be unde r no liability for inte re st on any mone y re c e ive d by it he re unde r
e xc e pt as othe rwise ag re e d in writing with the Company .

(i) The Truste e shall not be re quire d to g ive any bond or sure ty in re spe c t of the pe rformanc e of its
powe r and dutie s he re unde r.

(j) The Truste e shall have no duty to inquire as to the pe rformanc e of the Company ’s c ove nants
he re in.

(k) The Truste e ’s immunitie s and prote c tions from liability and its rig ht to inde mni c ation in
c onne c tion with the pe rformanc e of its dutie s unde r this Inde nture shall e xte nd to the Truste e ’s offic e rs, dire c tors, ag e nts,
attorne ys and e mploye e s. Suc h immunitie s and prote c tions and rig ht to inde mni c ation, tog e the r with the Truste e ’s rig ht
to c ompe nsation, shall survive the Truste e ’s re sig nation o r re moval, the de fe asanc e o r disc harg e of this Inde nture and
final payme nt of the Note s .

(l) The rig ht of the Truste e to take the ac tions pe rmitte d by this Inde nture shall not be c onstrue d as
an oblig ation or duty to do so.

(m) The Truste e may re que st that the Company de live r an Offic e rs ’ Ce rti c ate se tting forth the
name s of individuals and/or title s of of c e rs authoriz e d at suc h time to take spe c i e d ac tions pursuant to this Inde nture ,
whic h Offic e rs ’ Ce rtific ate may be sig ne d by any pe rson authoriz e d to sig n an Offic e rs ’ Ce rtific ate , inc luding any pe rson
spe c ifie d as so authoriz e d in any suc h c e rtific ate pre viously de live re d and not supe rse de d.

(n) In no e ve nt shall the Truste e be liable for any spe c ial, indire c t, punitive or c onse que ntial loss or
damag e of any kind whatsoe ve r (inc luding but not limite d to lost pro ts), e ve n if the Trus te e has be e n advise d of the
like lihood of suc h loss or damag e and re g ardle ss of the form of ac tion.

(o) The pe rmissive rig hts of the Truste e e nume rate d he re in shall not be c onstrue d as dutie s.

Se c tion 7.0 3. Individual Rig hts o f T rustee .

The Truste e in its individual or any othe r c apac ity may be c ome the owne r o r ple dg e e of Note s and may
othe rwise de al with the Company or any Affiliate of the Company with the same rig hts it

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would have if it we re not Truste e . Howe ve r, in the e ve nt that the Truste e ac quire s any c on ic ting inte re st it must c omply
with TIA § 310 . Any Ag e nt may do the same with like rig hts and dutie s. The Truste e is also subje c t to Se c tions 7.10 and
7.11 he re of.

Se c tion 7.0 4. T rustee ’s Disc laimer.

The Truste e shall not be re sponsible for and make s no re pre se ntation as to the validity o r ade quac y of
this Inde nture o r the Note s , it shall not be ac c ountable for the Company ’s use of the proc e e ds from the Note s o r any
mone y paid to the Company o r upon the Company ’s dire c tion unde r any provision of this Inde nture , it shall not be
re sponsible for the use or applic ation of any mone y re c e ive d by any Paying Ag e nt othe r than the Truste e , and it shall not
be re sponsible for any state me nt or re c ital he re in or any state me nt in the Note s or any othe r doc ume nt in c onne c tion with
the sale of the Note s or pursuant to this Inde nture othe r than its c e rtific ate of authe ntic ation.

Se c tion 7.0 5. No tic e o f Defaults.

If a De fault o r Eve nt of De fault oc c urs and is c ontinuing and if it is known to the Truste e , the Truste e
shall mail to Holde rs a notic e of the De fault or Eve nt of De fault within 90 days afte r it oc c urs unle ss suc h De fault o r Eve nt
of De fault has sinc e be e n c ure d. Exc e pt in the c ase of a De fault or Eve nt of De fault in payme nt of princ ipal of, pre mium,
if any, o r inte re st on any Note , the Truste e may withhold the notic e if and so long as a c ommitte e of its Re sponsible
Offic e rs in g ood faith de te rmine s that withholding the notic e is in the inte re sts of the Holde rs .

Se c tion 7.0 6. Repo rts by T rustee to Ho lders .

Within 60 days afte r e ac h July 15 be g inning with the July 15 following the date of this Inde nture , and for
so long as Note s re main outstanding , the Truste e shall mail to the Holde rs a brie f re port date d as of suc h re porting date
that c omplie s with T IA § 313(a) (but if no e ve nt de sc ribe d in T I A § 313(a) has oc c urre d within the twe lve months
pre c e ding the re porting date, no re port ne e d be transmitte d). The Truste e also shall c omply with TIA § 313(b)(2). The
Truste e shall also transmit by mail all re ports as re quire d by TIA § 313(c ).

A c opy of e ac h re port at the time of its mailing to the Holde rs shall be maile d to the Company and le d
with the Commission and e ac h stoc k e xc hang e on whic h the No te s are liste d in ac c ordanc e with T IA § 313(d). The
Company shall promptly notify the Truste e whe n the Note s are liste d on any stoc k e xc hang e and any de listing the re of.

Se c tion 7.0 7. Co mpensatio n and Indemnity.

The Company shall pay to the Truste e from time to time re asonable c ompe nsation for its ac c e ptanc e of
this Inde nture and se rvic e s he re unde r as the Co mpany and the Trus te e shall ag re e in writing . The Truste e ’s
c ompe nsation shall not be limite d by any law on c ompe nsation of a truste e of an e xpre ss trust. The Co mpany shall
re imburse the Truste e promptly upon re que st for all re asonable disburse me nts, advanc e s and e xpe nse s inc urre d o r made
by it in addition to the c ompe nsation for its se rvic e s. Suc h e xpe nse s shall inc lude the re asonable c ompe nsation,
disburse me nts and e xpe nse s of the Truste e ’s ag e nts and c ounse l.

The Company shall inde mnify the Truste e (in its c apac ity as Truste e ) o r any pre de c e ssor Truste e (in its
c apac ity as Truste e ) ag ainst any and all losse s , c laims, damag e s, pe naltie s, ne s, liabilitie s o r e xpe ns e s, inc luding
re asonable inc ide ntal and out-of-poc ke t e xpe nse s and re asonable attorne ys' fe e s (“ losses”) inc urre d by it arising out of or
in c onne c tion with the ac c e ptanc e or administration of its dutie s

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unde r this Inde nture , inc luding the c osts and e xpe nse s of e nforc ing this Inde nture ag ainst the Company (inc luding this
Se c tion 7.0 7) and de fe nding itse lf ag ainst any c laim (whe the r asse rte d by the Company o r a ny Ho lde r o r any othe r
pe rson) or liability in c onne c tion with the e xe rc ise or pe rformanc e of any of its powe rs or dutie s he re unde r. The Truste e
shall notify the Company promptly of any c laim for whic h it may se e k inde mnity. Failure by the Truste e to so notify the
Company shall not re lie ve the Company of its oblig ations he re unde r. The Company shall de fe nd the c laim, and the
Trus te e shall c oope rate in the de fe nse. The Trus te e may have se parate c ounse l, and the Co mpany shall pay the
re asonable fe e s and e xpe nse s of suc h c ounse l, if the Truste e has be e n re asonably advise d by c ounse l that the re may be
one or more le g al de fe nse s available to it that are diffe re nt from or additional to those available to the Company and in the
re asonable judg me nt of suc h c ounse l it is advisable for the Truste e to e ng ag e se parate c ounse l. The Company ne e d not
pay for any se ttle me nt made without its c onse nt, whic h c onse nt shall not be unre asonably withhe ld. Notwithstanding the
forg oing , the Company ne e d not re imburse any e xpe nse or inde mnify ag ainst any loss, liability or e xpe nse inc urre d by the
Truste e and c ause d by the Truste e ’s own willful misc onduc t, g ross ne g lig e nc e or bad faith.

The oblig ations of the Company unde r this Se c tion 7.0 7 shall survive the satisfac tion and disc harg e of
this Inde nture , the re sig nation or re moval of the Truste e and payme nt in full of the Note s .

To se c ure the Company ’s payme nt oblig ations in this Se c tion, the Truste e shall have a Lie n prior to the
Note s on all mone y o r prope rty he ld o r c olle c te d by the Truste e , e xc e pt that he ld in trust to pay princ ipal, pre mium, if
any, and inte re st on partic ular Note s . Suc h Lie n shall survive the satisfac tion and disc harg e of this Inde nture .

Whe n the Trus te e inc urs e xpe nse s o r re nde rs se rvic e s afte r an Eve nt of De fault spe c i e d in Se c tion
6.0 1(a)(x) or (a)(xi) he re of oc c urs, the e xpe nse s and the c ompe nsation for the se rvic e s ( inc luding the fe e s and e xpe nse s
of its ag e nts and c ounse l) are inte nde d to c onstitute e xpe nse s of administration unde r any Bankruptc y Law .

Se c tion 7.0 8. Replac ement o f T rustee .

A re sig nation or re moval of the Truste e and appointme nt of a suc c e ssor Truste e shall be c ome e ffe c tive
only upon the suc c e ssor Truste e ’s ac c e ptanc e of appointme nt as provide d in this Se c tion.

T h e Trus te e may re sig n in writing at any time upon 30 days prior notic e to the Co mpany and be
disc harg e d from the trust he re by c re ate d by so notifying the Company . The Holde rs of a majority in princ ipal amount of
the the n outstanding No te s may re move the Trus te e by so notifying the Trus te e and the Co mpany in writing . The
Company may re move the Truste e if:

(a) the Truste e fails to c omply with Se c tion 7.10 he re of;

(b) the Truste e is adjudg e d a bankrupt or an insolve nt or an orde r for re lie f is e nte re d with re spe c t to
the Truste e unde r any Bankruptc y Law ;

(c ) a c ustodian or public offic e r take s c harg e of the Truste e or its prope rty; or

(d) the Truste e be c ome s inc apable of ac ting .

If the Truste e re sig ns o r is re move d o r if a vac anc y e xists in the of c e of Truste e for any re ason (the
Truste e in suc h e ve nt be ing re fe rre d to he re in as the “retiring Trustee ”), the Company shall promptly appoint a suc c e ssor
Truste e . Within one ye ar afte r the suc c e ssor Truste e take s offic e , the

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Holde rs of a majority in princ ipal amount of the the n outstanding Note s may appoint a suc c e ssor Truste e to re plac e the
suc c e ssor Truste e appointe d by the Company .

If a suc c e ssor Trus te e doe s not take of c e within 30 days afte r the re tiring Trus te e re s ig ns o r is
re move d, the re tiring Truste e , the Company , or the Holde rs of at le ast 10 % in princ ipal amount of the the n outstanding
Note s may pe tition any c ourt of c ompe te nt jurisdic tion for the appointme nt of a suc c e ssor Truste e .

If the Truste e , afte r writte n re que st by any Holde r who has be e n a Holde r for at le ast six months, fails to
c omply with Se c tion 7.10 he re of, suc h Holde r may pe tition any c ourt of c ompe te nt jurisdic tion, at the e xpe nse of the
Company , for the re moval of the Truste e and the appointme nt of a suc c e ssor Truste e .

A suc c e ssor Truste e shall de live r a writte n ac c e ptanc e of its appointme nt to the re tiring Truste e and to
the Company . The re upon, the re sig nation or re moval of the re tiring Truste e shall be c ome e ffe c tive, and the suc c e ssor
Truste e shall have all the rig hts, powe rs and dutie s of the Truste e unde r this Inde nture . The suc c e ssor Truste e shall mail
a notic e of its suc c e ssion to Holde rs . Subje c t to the Lie n provide d for in Se c tion 7.0 7 he re of, the re tiring Truste e shall
promptly transfe r all prope rty he ld by it as Truste e to the suc c e ssor Truste e . Notwithstanding re plac e me nt of the Truste e
pursuant to this Se c tion 7.0 8, the Company ’s oblig ations unde r Se c tion 7.0 7 he re of shall c ontinue for the be ne t of the
re tiring Truste e .

Se c tion 7.0 9. Suc c esso r T rustee by Merg er, etc .

If the Truste e c onsolidate s, me rg e s o r c onve rts into, o r transfe rs all o r substantially all of its c orporate
trust busine ss to, anothe r c orporation or banking assoc iation, the suc c e ssor c orporation o r banking assoc iation without
any furthe r ac t shall, if suc h suc c e ssor c orporation o r banking assoc iation is othe rwise e lig ible he re unde r, be the
suc c e ssor Truste e .

Se c tion 7.10 . Elig ibility; Disqualific atio n.

The re shall at all time s be a Truste e he re unde r that is a P e rson org aniz e d and doing busine ss unde r the
laws of the U nite d State s of Ame ric a o r of any state the re of that is authoriz e d unde r suc h laws to e xe rc ise c orporate
truste e powe r, that is subje c t to supe rvision or e xamination by fe de ral or state authoritie s and that has a c ombine d c apital
and surplus of at le ast $50 ,0 0 0 ,0 0 0 (o r a wholly-owne d subsidiary of a bank o r trust c ompany, o r of a bank holding
c ompany, the princ ipal subsidiary of whic h is a bank o r trust c ompany having a c ombine d c apital and surplus of at le ast
$50 ,0 0 0 ,0 0 0 ) as se t forth in its most re c e nt publishe d annual re port of c ondition.

This Inde nture shall always have a Truste e who satis e s the re quire me nts of T IA § 310 (a)(1), (2) and
(5). The Truste e is subje c t to TIA § 310 (b).

Se c tion 7.11. P referential Co llec tio n o f Claims Ag ainst Co mpany.

The Truste e is subje c t to T IA § 311(a), e xc luding any c re ditor re lationship liste d in T IA § 311(b). A
Truste e who has re sig ne d or be e n re move d shall be subje c t to TIA § 311(a) to the e xte nt indic ate d the re in.

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 ART ICLE 8 .

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

Se c tion 8.0 1. Optio n to Effec t Leg al Defeasanc e o r Co venant Defeasanc e .

The Company may, at its option and at any time, e le c t to have e ithe r Se c tion 8.0 2 o r 8.0 3 he re of be
applie d to all outstanding Note s upon c omplianc e with the applic able c onditions se t forth be low in this Artic le 8.

Se c tion 8.0 2. Leg al Defeasanc e and Disc harg e.

U pon the Company ’s e xe rc ise unde r Se c tion 8.0 1 he re of of the option applic able to this Se c tion 8.0 2,
the Company shall, subje c t to the satisfac tion of the applic able c onditions se t forth in Se c tion 8.0 4 he re of, be de e me d to
have be e n disc harg e d from its oblig ations with re spe c t to all outstanding Note s on the date the c onditions se t forth be low
are satis e d (he re inafte r, “ Legal Defeasance ”) and e ac h Guarantor shall be re le ase d from all of its oblig ations unde r its
Guarante e . For this purpose, Le g al De fe asanc e me ans that the Company shall be de e me d to have paid and disc harg e d
the e ntire De bt re pre se nte d by the outstanding Note s , whic h shall the re afte r be de e me d to be “outstanding ” only for the
purpose s of Se c tion 8.0 5 he re of and the othe r Se c tions of this Inde nture re fe rre d to in c lause s (a), (b), (c ) and (d) be low,
and to have satisfie d all its othe r oblig ations unde r the Note s and this Inde nture (and the Truste e , on de mand of and at the
e xpe nse of the Company , shall e xe c ute prope r instrume nts ac knowle dg ing the same ), e xc e pt for the following provisions
whic h shall survive until othe rwise te rminate d or disc harg e d he re unde r: (a) the rig hts of Holde rs o f outstanding Note s to
re c e ive sole ly from the trust fund de sc ribe d in Se c tion 8.0 4 he re of, and as more fully se t forth in suc h Se c tion, payme nts in
re spe c t of the princ ipal of, pre mium, if any, o r inte re st on suc h Note s whe n suc h payme nts are due, (b) the Company ’s
oblig ations with re spe c t to suc h Note s unde r Artic le 2 and the payme nt te rms of the Note s , (c ) the rig hts, powe rs, trusts,
dutie s and immunitie s of the Truste e he re unde r and the Company ’s oblig ations in c onne c tion the re with and (d) this Artic le
8. If the Co mpany e xe rc ise s unde r S e c tio n 8 . 0 1 he re o f the option applic able to this S e c tio n 8.0 2, subje c t to the
satisfac tion of the c onditions se t forth in Se c tion 8.0 4 he re of, payme nt of the Note s may not be ac c e le rate d be c ause of an
Eve nt of De fault with re spe c t the re to. Subje c t to c omplianc e with this Artic le 8, the Company may e xe rc ise its option
unde r this Se c tion 8.0 2 notwithstanding the prior e xe rc ise of its option unde r Se c tion 8.0 3 he re of.

Se c tion 8.0 3. Co venant Defeasanc e .

U pon the Company ’s e xe rc ise unde r Se c tion 8.0 1 he re of of the option applic able to this Se c tion 8.0 3,
the Company shall, subje c t to the satisfac tion of the applic able c onditions se t forth in Se c tion 8.0 4 he re of, be re le ase d
from its oblig ations unde r the c ove nants c ontaine d in Se c tions 4.0 2, 4.0 3, 4.0 4, 4.0 5, 4.0 6, 4.0 9 throug h 4.17 he re of, and
the ope ration of Se c tions 5.0 1(a)(iv) and (a)(v) and Se c tions 5.0 1(b) he re of, with re spe c t to the outstanding Note s on and
afte r the date the c onditions se t forth in Se c tion 8.0 4 he re of are satis e d (he re inafte r, “ Covenant Defeasance ”) and e ac h
Guarantor shall be re le ase d from all of its oblig ations unde r its Guarante e with re spe c t to suc h c ove nants in c onne c tion
with suc h outs tanding No te s and the No te s shall the re afte r be de e me d not “outstanding ” for the purpose s of any
dire c tion, waive r, c onse nt or de c laration or ac t of Holde rs (and the c onse que nc e s of any the re of) in c onne c tion with suc h
c ove nants, but shall c ontinue to be de e me d “outstanding ” for all othe r purpose s he re unde r (it be ing unde rstood that suc h
Note s may not be de e me d outstanding for ac c ounting purpose s). For this purpose, Cove nant De fe asanc e me ans that,
with re spe c t to the outstanding Note s , the Company may omit to c omply with and shall have no liability in re spe c t of any
te rm, c ondition o r limitation se t forth in any suc h c ove nant, whe the r dire c tly o r indire c tly, by re ason of any re fe re nc e
e lse whe re he re in to any suc h c ove nant or by re ason of any re fe re nc e in any suc h c ove nant to any othe r provision he re in
or in

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any othe r doc ume nt and suc h omission to c omply shall not c onstitute a De fault or an Eve nt of De fault unde r Se c tion 6.0 1
he re of, but, e xc e pt as spe c i e d above, the re mainde r of this Inde nture and suc h Note s shall be unaffe c te d the re by. If the
Company e xe rc ise s unde r Se c tion 8.0 1 he re of the option applic able to this Se c tion 8.0 3, subje c t to the satisfac tion of the
applic able c onditions se t forth in Se c tion 8.0 4 he re of, payme nt of the Note s may not be ac c e le rate d be c ause of an Eve nt
o f De fault spe c i e d in c lause (a)(iii), (a)(iv), (a)(v), (a)(vi), (a)(vii) (with re spe c t to the c ove nants c ontaine d in Se c tions
4.0 2, 4.0 3, 4.0 4, 4.0 5, 4.0 6, 4.0 9 throug h 4.17 he re of), (a)(viii), (a)(ix), (a)(x), (a)(xi) or (a)(xii) (but in the c ase of (a)(x)
and (a)(xi) of Se c tion 6.0 1 he re of, with re spe c t to Sig ni c ant Subsidiarie s only) o r be c ause of the Company ’s failure to
c omply with c lause s (a)(iv), (a)(v), (b) of Se c tion 5.0 1.

Se c tion 8.0 4. Co nditio ns to Leg al o r Co venant Defeasanc e .

The following shall be the c onditions to the applic ation of e ithe r Se c tion 8.0 2 o r 8 . 0 3 he re o f to the
outstanding Note s .

Le g al De fe asanc e or Cove nant De fe asanc e may be e xe rc ise d only if:

(a) the Company irre voc ably de posits with the Truste e , in trust (the “defeasance trust”), for the
be ne t of the Holde rs of the Note s , c ash in U.S. dollars, U.S. Gove rnme nt Oblig ations , o r a c ombination of c ash in
U .S. dollars and U .S. Gove rnme nt Oblig ations for the payme nt of princ ipal, pre mium, if any, and inte re st on the Note s to
maturity o r re de mption, as the c ase may be, and the Company must spe c ify whe the r the No te s are be ing de fe ase d to
maturity or to suc h re de mption date ;

(b) the Company , if re quire d by the Truste e , de live rs to the Truste e a c e rti c ate from a rm of
inde pe nde nt public ac c ountants of re c og niz e d inte rnational standing e xpre ssing the ir opinion that the payme nts of
princ ipal, pre mium, if any, and inte re st whe n due and without re inve stme nt on the de posite d U.S. Gove rnme nt Oblig ations
plus any de posite d mone y without inve stme nt will provide c ash at suc h time s and in suc h amounts as will be suf c ie nt to
pay princ ipal and ac c rue d and unpaid inte re st whe n due on all the Note s to maturity or re de mption, as the c ase may be ;

(c ) no De fault or Eve nt of De fault has oc c urre d and is c ontinuing as of the date of suc h de posit of
funds with the Truste e and afte r g iving e ffe c t the re to;

(d) in the c ase of Le g al De fe asanc e, the Company de live rs to the Truste e a n Opinion of Counse l
re asonably ac c e ptable to the Trus te e c on rming that (a) the Company has re c e ive d from, o r the re has be e n
publishe d by, the Inte rnal Re ve nue Se rvic e a ruling and/ o r from the Canada Re se rve Ag e nc y an advanc e tax
ruling , as applic able, o r (b) sinc e the date he re of, the re has be e n a c hang e in the applic able fe de ral inc ome tax
law, in e ithe r c ase to the e ffe c t that, and base d the re on suc h Opinion of Counse l will c on rm that, the Holde rs and
be ne fic ial owne rs of the outstanding Note s will not re c og niz e inc ome, g ain or loss for U.S. fe de ral inc ome tax or
Canadian fe de ral, provinc ial o r te rritorial inc ome o r withholding tax purpose s as a re sult of suc h Le g al
De fe asanc e and will be subje c t to U.S. fe de ral inc ome tax or Canadian fe de ral, provinc ial or te rritorial inc ome or
withholding tax, as applic able, on the same amounts, in the same manne r and at the same time s as would have
be e n the c ase if suc h Le g al De fe asanc e had not oc c urre d;

(e ) [re se rve d];

(f) in the c ase of Cove nant De fe asanc e , the Company de live rs to the Trus te e a n Opinion of
Co uns e l re asonably ac c e ptable to the Trus te e c on rming that the Ho lde rs and be ne c ial owne rs of the
outstanding No te s will not re c og niz e inc ome, g ain o r loss for U.S. fe de ral inc ome tax o r Canadian fe de ral,
provinc ial or te rritorial inc ome or withholding tax

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 purpose s as a re sult of suc h Cove nant De fe asanc e and will be subje c t to U.S. fe de ral inc ome tax o r Canadian
fe de ral, provinc ial o r te rritorial inc ome tax o r withholding tax, as applic able, on the same amounts, in the same
manne r and at the same time s as would have be e n the c ase if suc h Cove nant De fe asanc e had not oc c urre d;

(g ) suc h Le g al De fe asanc e o r Cove nant De fe asanc e will not re sult in a bre ac h o r violation of, or
c onstitute a de fault unde r, any ag re e me nt or instrume nt (othe r than this Inde nture ) to whic h the Company o r any
of its Re stric te d Subsidiarie s is a party or by whic h the Company or any of its Re stric te d Subsidiarie s is bound;

(h) the Company de live rs to the Truste e an Opinion of Counse l to the e ffe c t that the trust re sulting
from the de posit doe s not c onstitute, o r is quali e d as, a re g ulate d inve stme nt c ompany unde r the Inve stme nt
Company Ac t of 1940 , as ame nde d;

(i) the Company de live rs to the Truste e an Offic e rs ’ Ce rti c ate and an Opinion of Counse l , e ac h
stating that all c onditions pre c e de nt re lating to Le g al De fe asanc e or Cove nant De fe asanc e have be e n c omplie d
with; and

(j) notwithstanding the fore g oing , the Opinion of Counse l re quire d by c lause (d) above with re spe c t
to Le g al De fe asanc e ne e d not be de live re d if all Note s not the re tofore de live re d to the Truste e for c anc e llation
(A) have be c ome due and payable , (B) will be c ome due and payable on the maturity date within one ye ar or (C) as
to whic h a re de mption notic e has be e n o r will be g ive n c alling the Note s for re de mption within one ye ar, unde r
arrang e me nts satisfac tory to the Truste e for the g iving of notic e of re de mption by the Truste e in the name, and at
the e xpe nse , of the Company .

Se c tion 8.0 5. Depo sited Cash and U.S. Go vernment Oblig atio ns to Be Held in T rust; Other
Misc ellaneo us P ro visio ns.

Subje c t to S e c tio n 8 . 0 6 he re of, all c ash and U.S. Gove rnme nt Oblig ations (inc luding the proc e e ds
the re of) de posite d with the Trus te e (o r othe r qualifying truste e, c olle c tive ly for purpose s of this S e c tio n 8.0 5, the
“Truste e ”) pursuant to Se c tion 8.0 4 he re of in re spe c t of the outstanding Note s shall be he ld in trust and applie d by the
Truste e , in ac c ordanc e with the provisions of suc h Note s and this Inde nture , to the payme nt, e ithe r dire c tly o r throug h
any Paying Ag e nt (inc luding the Company ac ting as Paying Ag e nt) as the Truste e may de te rmine, to the Holde rs of all
sums due and to be c ome due the re on in re spe c t of princ ipal, pre mium, if any, and inte re st, but suc h c ash and se c uritie s
ne e d not be se g re g ate d from othe r funds e xc e pt to the e xte nt re quire d by law.

The Company shall pay and inde mnify the Truste e ag ainst any tax, fe e o r othe r c harg e impose d on or
asse sse d ag ainst the c ash or U .S. Gove rnme nt Oblig ations de posite d pursuant to Se c tion 8.0 4 he re of or the princ ipal and
inte re st re c e ive d in re spe c t the re of othe r than any suc h tax, fe e o r othe r c harg e whic h by law is for the ac c ount of the
Holde rs of the outstanding Note s .

Anything in this Artic le 8 to the c ontrary notwithstanding , the Truste e shall de live r or pay to the Company
from time to time upon the re que st of the Company any c ash o r U.S. Gove rnme nt Oblig ations he ld by it as provide d in
Se c tion 8.0 4 he re of whic h, in the opinion of a nationally re c og niz e d rm of inde pe nde nt c e rti e d public ac c ountants of
re c og niz e d inte rnational standing e xpre sse d in a writte n c e rti c ation the re of de live re d to the Truste e (whic h may be the
c e rtific ation de live re d unde r Se c tion 8.0 4(a) he re of), are in e xc e ss of the amount the re of that would the n be re quire d to be
de posite d to e ffe c t an e quivale nt Le g al De fe asanc e or Cove nant De fe asanc e .

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 Se c tion 8.0 6. Repayment to Co mpany .

Any c ash or U .S. Gove rnme nt Oblig ations de posite d with the Truste e or any Paying Ag e nt , or the n he ld
by the Company , in trust for the payme nt of the princ ipal, pre mium, if any, o r inte re st on any N o te and re maining
unc laime d for two ye ars afte r suc h princ ipal, pre mium, if any, or inte re st has be c ome due and payable shall be paid to the
Company on its re que st o r (if the n he ld by the Company ) shall be disc harg e d from suc h trust; and the Ho lde r shall
the re afte r, as an unse c ure d c re ditor, look only to the Company for payme nt the re of, and all liability of the Truste e o r suc h
Paying Ag e nt with re spe c t to suc h c ash and se c uritie s, and all liability of the Company as truste e the re of, shall the re upon
c e ase ; provided , however, that the Truste e o r s uc h Paying Ag e nt , be fore be ing re quire d to make any suc h re payme nt,
may at the e xpe nse of the Company c ause to be publishe d onc e, in The Ne w York Time s and The Wall Stre e t Journal
(national e dition), notic e that suc h c ash and se c uritie s re mains unc laime d and that, afte r a date spe c i e d the re in, whic h
shall not be le ss than 30 days from the date of suc h noti c ation o r public ation, any unc laime d balanc e of suc h c ash and
se c uritie s the n re maining shall be re paid to the Company .

Se c tion 8.0 7. Reinstatement.

If the Trus te e o r Paying Ag e nt is unable to apply any c ash o r U.S. Gove rnme nt Oblig ations in
ac c ordanc e with Se c tion 8.0 2 o r 8.0 3 he re of, as the c ase may be, by re ason of any orde r o r judg me nt of any c ourt or
g ove rnme ntal authority e njoining , re straining or othe rwise prohibiting suc h applic ation, the n the Company ’s oblig ations
unde r this Inde nture and the Note s shall be re vive d and re instate d as thoug h no de posit had oc c urre d pursuant to Se c tion
8.0 2 o r 8.0 3 he re of until suc h time as the Truste e o r Paying Ag e nt is pe rmitte d to apply all suc h c ash and se c uritie s in
ac c ordanc e with Se c tion 8.0 2 o r 8.0 3 he re of, as the c ase may be ; provided , however, that, if the Company make s any
payme nt of princ ipal of, pre mium, if any, o r inte re st on any No te following the re instate me nt of its oblig ations, the
Company shall be subrog ate d to the rig hts of the Holde rs to re c e ive suc h payme nt from the c ash and se c uritie s he ld by
the Truste e or Paying Ag e nt .

ART ICLE 9 .

AMENDMENT , SUP P LEMENT AND WAIVER

Se c tion 9.0 1. Witho ut Co nsent o f Ho lders o f No tes .

Notwithstanding Se c tion 9 . 0 2 he re of, the Co mpany and the Trus te e may ame nd o r supple me nt this
Inde nture or the Note s without the c onse nt of any Holde r to:

(a) c ure any ambig uity, omission, de fe c t or inc onsiste nc y;

(b) provide for the assumption by a Surviving Pe rson of the oblig ations of the Company unde r this
Inde nture ;

(c ) provide for unc e rti c ate d Note s in addition to or in plac e of c e rti c ate d Note s (provided that the
unc e rti c ate d Note s are issue d in re g iste re d form for purpose s of Se c tion 163(f) of the Code , o r in a manne r
suc h that the unc e rtific ate d Note s are de sc ribe d in Se c tion 163(f)(2)(B) of the Code );

(d) add additional Subsidiary Guarante e s with re spe c t to the No te s o r to re le ase Subsidiary
Guarantors from Subsidiary Guarante e s as provide d or pe rmitte d unde r this Inde nture ;

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 (e ) make any c hang e that would provide additional rig hts or be ne ts to the Holde rs or that doe s not
adve rse ly affe c t the le g al rig hts he re unde r of any suc h Holde r ;

(f) provide for the issuanc e of Additional Note s in ac c ordanc e with this Inde nture ;

(g ) make any c hang e to c omply with any re quire me nt of the Commission in orde r to e ffe c t or
maintain the qualific ation of this Inde nture unde r the TIA or othe r applic able trust inde nture le g islation; and

(h) to c onform the te xt of this Inde nture or the Note s to any provision of the “De sc ription of Note s
” se c tion in the Offe ring Me morandum to the e xte nt that suc h provision the re in is inte nde d to be a substantially
ve rbatim re c itation of a provision in this Inde nture or the Note s .

Se c tion 9.0 2. With Co nsent o f Ho lders o f No tes .

Exc e pt as provide d be low in this Se c tion 9.0 2, the Company and the Truste e may ame nd o r supple me nt
this Inde nture and the Note s with the c onse nt of the Holde rs of a majority in princ ipal amount of the Note s , inc luding
Additional Note s , if any, the n outstanding voting as a sing le c lass (inc luding c onse nts obtaine d in c onne c tion with a
purc hase of or te nde r offe r or e xc hang e offe r for the Note s ), and, subje c t to Se c tions 6.0 4 and 6.0 7 he re of, any e xisting
De fault or Eve nt of De fault (e xc e pt a c ontinuing De fault or Eve nt of De fault in the payme nt of princ ipal, pre mium, if any,
or inte re st on the Note s ) o r c omplianc e with any provision of this Inde nture o r the Note s (e xc e pt for c e rtain c ove nants
and provisions of this Inde nture whic h c annot be ame nde d without the c onse nt of e ac h Holde r ) may be waive d with the
c onse nt of the Ho lde rs of a majority in princ ipal amount of the Note s , inc luding Additional Note s , if any, the n
outstanding voting as a sing le c lass (inc luding c onse nts obtaine d in c onne c tion with a purc hase of o r te nde r offe r or
e xc hang e offe r for the Note s ).

Without the c onse nt of e ac h Holde r affe c te d (whe the r in the ag g re g ate holding a majority in princ ipal
amount of Note s or not), an ame ndme nt or waive r unde r this Se c tion 9.0 2 may not (with re spe c t to any Note s he ld by a
non-c onse nting Holde r ):

(a) re duc e the princ ipal amount of No te s who s e Ho lde rs must c onse nt to an ame ndme nt,
supple me nt or waive r;

(b) re duc e the rate of or c hang e the time for payme nt of inte re st on any Note s ;

(c ) re duc e the princ ipal of or c hang e the State d Maturity of any Note s or c hang e the date on whic h
a ny No te s may be subje c t to re de mption o r re purc hase (whic h e xc lude s minimum notic e re quire me nts), or
re duc e the re de mption o r re purc hase pric e for those No te s (e xc e pt, in the c ase of re purc hase s, as would
othe rwise be pe rmitte d unde r c lause s (g ) and (j) he re of);

(d) make any Note payable in mone y othe r than that state d in the Note and this Inde nture ;

(e ) impair the rig ht of any Holde r to re c e ive payme nt of princ ipal, pre mium and inte re st on that
Holde r ’s Note s on or afte r the due date s for those payme nts, or to bring suit to e nforc e that payme nt on o r with
re spe c t to suc h Holde r ’s Note s or any Subsidiary Guarante e ;

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 (f) re duc e the pre mium payable upon the re de mption of any Note or c hang e the time at whic h any
Note may be re de e me d (whic h e xc lude s modifying minimum notic e re quire me nts), as de sc ribe d in Se c tions 3.0 7
and 4.19 he re of;

(g ) afte r the Company ’s oblig ation to purc hase the Note s arise s unde r Se c tion 4.16 he re of, ame nd,
modify o r c hang e the oblig ation of the Company to make o r c onsummate a Chang e of Control Offe r o r waive
any de fault in the pe rformanc e of that Chang e of Control Offe r or modify any of the provisions o r de nitions with
re spe c t to any suc h offe r;

(h) subordinate the Note s or any Subsidiary Guarante e to any othe r oblig ation of the Company or
the applic able Subsidiary Guarantor (for the avoidanc e of doubt, the g ranting of a se c urity inte re st in any
Prope rty shall not c onstitute a subordinate d inte re st);

(i) make any c hang e to this Inde nture o r the No te s that would re sult in the Company o r any
Subsidiary Guarantor be ing re quire d to make any withholding o r de duc tion from payme nts made unde r o r with
re spe c t to the Note s (inc luding payme nts made with pursuant to any Subsidiary Guarante e );

(j) make any c hang e in the provisions of this Artic le 9 whic h re quire the c onse nt of e ac h Holde r ;

(k) make any c hang e in the provisions of Se c tion 4.19 he re of that adve rse ly affe c ts the rig hts of any
Holde r or be ne fic ial owne r or ame nd the te rms of the Note s or this Inde nture in a way that would re sult in a loss to
any Holde r of an e xe mption from any of the Taxe s de sc ribe d the re unde r;

(l) at any time afte r the Company is oblig ate d to make an Asse t Sale Offe r pursuant to Se c tion 4.12
he re of, c hang e the time at whic h suc h offe r to purc hase must be made or at whic h the Note s must be re purc hase d
pursuant the re to; or

(m) make any c hang e in any Subsidiary Guarante e that would adve rse ly affe c t the rig hts of Holde rs
to re c e ive payme nts unde r the Subsidiary Guarante e , othe r than any re le ase of a Subsidiary Guarantor in
ac c ordanc e with the provisions of this Inde nture .

The Company may, but shall not be oblig ate d to, x a re c ord date for the purpose of de te rmining the
Pe rsons e ntitle d to c onse nt to any waive r or supple me ntal inde nture. If a re c ord date is xe d, the Holde rs on suc h re c ord
date , or the ir duly de sig nate d proxie s, and only suc h Pe rsons , shall be e ntitle d to c onse nt to suc h waive r o r supple me ntal
inde nture, whe the r o r not suc h Holde rs re main Holde rs afte r suc h re c ord date ; provided that unle ss suc h c onse nt shall
have be c ome e ffe c tive by virtue of the re quisite pe rc e ntag e having be e n obtaine d prior to the date whic h is 120 days afte r
suc h re c ord date, any suc h c onse nt pre viously g ive n shall automatic ally and without furthe r ac tion by any Ho lde r be
c anc e lle d and of no furthe r e ffe c t.

It shall not be ne c e ssary for the c onse nt of the Holde rs unde r this Se c tion 9.0 2 to approve the partic ular
form of any propose d ame ndme nt or waive r, but it shall be suffic ie nt if suc h c onse nt approve s the substanc e the re of.

Afte r an ame ndme nt, supple me nt o r waive r unde r this Se c tion 9.0 2 be c ome s e ffe c tive, the Company
shall mail or de live r to the Holde r of e ac h Note affe c te d the re by a notic e brie y de sc ribing the ame ndme nt, supple me nt or
waive r. Any failure of the Company to mail o r de live r suc h notic e, o r any de fe c t the re in, shall not, howe ve r, in any way
impair or affe c t the validity of any suc h ame nde d or

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supple me ntal inde nture o r waive r. Subje c t to Se c tions 6.0 4 and 6.0 7 he re of, the Holde rs of a majority in ag g re g ate
princ ipal amount of the Note s , inc luding Additional Note s , if any, the n outstanding voting as a sing le c lass may waive
c omplianc e in a partic ular instanc e by the Company with any provision of this Inde nture or the Note s .

Se c tion 9.0 3. Co mplianc e with T rust Indenture Ac t.

Eve ry ame ndme nt o r supple me nt to this Inde nture o r the No te s shall be se t forth in an ame nde d or
supple me ntal inde nture that c omplie s with the TIA as the n in e ffe c t.

Se c tion 9.0 4. Revo c atio n and Effec t o f Co nsents.

U ntil an ame ndme nt, supple me nt or waive r be c ome s e ffe c tive, a c onse nt to it by a Holde r is a c ontinuing
c onse nt by the Holde r of a Note and e ve ry subse que nt Holde r of a Note or portion the re of that e vide nc e s the same de bt
as the c onse nting Holde r ’s Note, e ve n if notation of the c onse nt is not made on any Note . Howe ve r, any suc h Holde r
o r subse que nt Holde r may re voke the c onse nt as to its Note o r portion the re of if the Truste e re c e ive s writte n notic e of
re voc ation be fore the date the waive r, supple me nt or ame ndme nt be c ome s e ffe c tive (notwithstanding that it may be c ome
ope rative at a late r date , whe the r upon the satisfac tion of c e rtain c onditions or othe rwise ). An ame ndme nt, supple me nt or
waive r be c ome s e ffe c tive (notwithstanding that it may be c ome ope rative at a late r date, whe the r upon the satisfac tion of
c e rtain c onditions or othe rwise ) in ac c ordanc e with its te rms and the re afte r binds e ve ry Holde r .

Se c tion 9.0 5. No tatio n o n o r Exc hang e o f No tes .

The Truste e may plac e an appropriate notation about an ame ndme nt, supple me nt or waive r on any Note
the re afte r authe ntic ate d. The Company in e xc hang e for all Note s may issue and the Truste e shall, upon re c e ipt of an
Authe ntic ation Orde r , authe ntic ate ne w Note s that re fle c t the ame ndme nt, supple me nt or waive r.

Failure to make the appropriate notation o r issue a ne w Note shall not affe c t the validity and e ffe c t of
suc h ame ndme nt, supple me nt or waive r.

Se c tion 9.0 6. T rustee to Sig n Amendments, etc .

In e xe c uting any ame nde d o r supple me ntal inde nture, the Truste e shall re c e ive and (subje c t to Se c tion
7.0 1 he re of) shall be fully prote c te d in c onc lusive ly re lying upon in addition to the doc ume nts re quire d by Se c tion 12.0 4,
a n Offic e rs ’ Ce rti c ate and an Opinion of Counse l stating that (i) the e xe c ution of suc h ame nde d o r supple me ntal
inde nture is authoriz e d or pe rmitte d by this Inde nture , (ii) suc h ame nde d or supple me ntal inde nture is the valid and binding
oblig ation of the Company e nforc e able ag ainst it in ac c ordanc e with its te rms, subje c t to c ustomary e xc e ptions, and (iii)
suc h ame nde d o r supple me ntal inde nture c omplie s with the provisions he re o f (inc luding S e c tio n 9 .0 3 ) ; provide d ,
howe ve r, that suc h Opinion of Counse l ne e d not addre ss the matte rs se t forth in c lause (ii) above in c onne c tion with any
supple me ntal inde nture e xe c ute d and de live re d to the Truste e the sole purpose of whic h is to add an additional Subsidiary
Guarantor pursuant to Se c tion 4 . 1 7 he re of. The Trus te e may, but shall not be oblig ate d to, sig n any ame nde d or
supple me ntal inde nture whic h affe c ts the Truste e ’s own rig hts, dutie s or immunitie s unde r this Inde nture .

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 ART ICLE 10 .

SUBSIDIARY GUARANT EES

Se c tion 10 .0 1. Subsidiary Guarantees .

Subje c t to this Artic le 10 , e ac h of the Subsidiary Guarantors he re by unc onditionally g uarante e s to e ac h

Holde r of a Note authe ntic ate d and de live re d by the Truste e and to the Truste e and its suc c e ssors and assig ns that: (a)
the princ ipal of, pre mium, if any, and inte re st on the Note s shall be promptly paid in full whe n due, subje c t to any applic able
g rac e pe riod, whe the r at maturity, by ac c e le ration, re de mption or othe rwise, and inte re st on the ove rdue princ ipal of, and
inte re st on, the Note s , if lawful, and all othe r oblig ations of the Company to the Holde rs o r the Trus te e he re unde r or
the re unde r shall be promptly paid in full or pe rforme d, all in ac c ordanc e with the te rms he re of and the re of; and (b) in c ase
of any e xte nsion of time of payme nt or re ne wal of any Note s or any of suc h othe r oblig ations, that same shall be promptly
paid in full whe n due or pe rforme d in ac c ordanc e with the te rms of the e xte nsion or re ne wal, whe the r at state d maturity, by
ac c e le ration pursuant to Se c tion 6.0 2 he re of, re de mption o r othe rwise. Failing payme nt whe n due of any amount so
g uarante e d o r any pe rformanc e so g uarante e d for whate ve r re ason, the Subsidiary Guarantors shall be jointly and
se ve rally oblig ate d to pay the same imme diate ly. Eac h Subsidiary Guarantor ag re e s that this is a g uarante e of payme nt
and not a g uarante e of c olle c tion.

Eac h Subsidiary Guarantor he re by ag re e s that its oblig ations with re g ard to this Subsidiary Guarante e
shall be joint and se ve ral, unc onditional, irre spe c tive of the validity or e nforc e ability of the Note s or the oblig ations of the
Company unde r this Inde nture , the abse nc e of any ac tion to e nforc e the same, the re c ove ry of any judg me nt ag ainst the
Company o r any othe r oblig or with re spe c t to this Inde nture , the Note s o r the Oblig ations of the Company unde r this
Inde nture or the Note s , any ac tion to e nforc e the same or any othe r c irc umstanc e s (othe r than c omple te pe rformanc e )
whic h mig ht othe rwise c onstitute a le g al o r e quitable disc harg e o r de fe nse of a Subsidiary Guarantor . Eac h Subsidiary
Guarantor furthe r, to the e xte nt pe rmitte d by law, waive s and re linquishe s all c laims, rig hts and re me die s ac c orde d by
applic able law to g uarantors and ag re e s not to asse rt or take advantag e of any suc h c laims, rig hts o r re me die s, inc luding
but not limite d to: (a) any rig ht to re quire any of the Truste e , the Holde rs or the Company (e ac h a “Bene ted Party ”), as
a c ondition of payme nt or pe rformanc e by suc h Subsidiary Guarantor , to (1) proc e e d ag ainst the Company , any othe r
g uarantor (inc luding any othe r Subsidiary Guarantor) of the Oblig ations unde r the Subsidiary Guarante e s o r any othe r
Pe rson , (2) proc e e d ag ainst o r e xhaust any se c urity he ld from the Company , any suc h othe r g uarantor o r any othe r
Pe rson , (3) proc e e d ag ainst or have re sort to any balanc e of any de posit ac c ount or c re dit on the books of any Be ne fite d
Party in favor of the Company or any othe r Pe rson , or (4) pursue any othe r re me dy in the powe r of any Be ne te d Party
whatsoe ve r; (b) any de fe nse arising by re ason of the inc apac ity, lac k of authority or any disability or othe r de fe nse of the
Company inc luding any de fe nse base d on o r arising out of the lac k of validity o r the une nforc e ability of the Oblig ations
unde r the Subsidiary Guarante e s o r any ag re e me nt o r instrume nt re lating the re to o r by re ason of the c e ssation of the
liability of the Company from any c ause othe r than payme nt in full of the Oblig ations unde r the Subsidiary Guarante e s ; (c )
any de fe nse base d upon any statute or rule of law whic h provide s that the oblig ation of a sure ty must be ne ithe r larg e r in
amount nor in othe r re spe c ts more burde nsome than that of the princ ipal; (d) any de fe nse base d upon any Be ne te d Party
’s e rrors o r omissions in the administration of the Oblig ations unde r the Subsidiary Guarante e s , e xc e pt be havior whic h
amounts to bad faith; (e )(1) any princ iple s o r provisions of law, statutory o r othe rwise, whic h are o r mig ht be in c on ic t
with the te rms of the Subsidiary Guarante e s and any le g al o r e quitable disc harg e of suc h Subsidiary Guarantor ’s
oblig ations he re unde r, (2) the be ne fit of any statute of limitations affe c ting suc h Subsidiary Guarantor ’s liability he re unde r
or the e nforc e me nt he re of, (3) any rig hts to se t-offs, re c oupme nts and c ounte rc laims and (4) promptne ss, dilig e nc e and
any re quire me nt that any Be ne fite d Party prote c t, se c ure , pe rfe c t or insure any se c urity inte re st or lie n or any

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prope rty subje c t the re to; (f) notic e s, de mands, pre se ntations, prote sts, notic e s of prote st, notic e s of dishonor and notic e s
of any ac tion or inac tion, inc luding ac c e ptanc e of the Subsidiary Guarante e s , notic e s of de fault unde r the Note s o r any
ag re e me nt o r instrume nt re late d the re to, notic e s of any re ne wal, e xte nsion o r modi c ation of the Oblig ations unde r the
Subsidiary Guarante e s or any ag re e me nt re late d the re to, and notic e s of any e xte nsion of c re dit to the Company and any
rig ht to c onse nt to any the re of; (g ) to the e xte nt pe rmitte d unde r applic able law, the be ne ts of any “One Ac tion” rule ;
and (h) any de fe nse s o r be ne ts that may be de rive d from o r afforde d by law whic h limit the liability of o r e xone rate
g uarantors or sure tie s, or whic h may c on ic t with the te rms of the Subsidiary Guarante e s . Exc e pt to the e xte nt e xpre ssly
provide d he re in, inc luding Se c tions 8.0 2, 8.0 3 and 10 .0 5 he re of, e ac h Subsidiary Guarantor he re by c ove nants that its
Subsidiary Guarante e shall not be disc harg e d e xc e pt by c omple te pe rformanc e of the oblig ations c ontaine d in its
Subsidiary Guarante e and this Inde nture .

If any Holde r o r the Trus te e is re quire d by any c ourt o r othe rwise to re turn to the Company , the
Subsidiary Guarantors or any c ustodian, truste e , liquidator or othe r similar offic ial ac ting in re lation to e ithe r the Company
or the Subsidiary Guarantors , any amount paid by e ithe r to the Truste e or suc h Holde r , this Subsidiary Guarante e , to the
e xte nt the re tofore disc harg e d, shall be re instate d in full forc e and e ffe c t.

Eac h Subsidiary Guarantor ag re e s that it shall not be e ntitle d to any rig ht of subrog ation in re lation to the
Holde rs in re spe c t of any oblig ations g uarante e d he re by until payme nt in full of all oblig ations g uarante e d he re by. Eac h
Subsidiary Guarantor furthe r ag re e s that, as be twe e n the Subsidiary Guarantors , on the one hand, and the Holde rs and
the Truste e , on the othe r hand, (x) the maturity of the oblig ations g uarante e d he re by may be ac c e le rate d as provide d in
S e c tio n 6 . 0 2 he re o f for the purpose s of this Subsidiary Guarante e , notwithstanding any stay, injunc tion o r othe r
prohibition pre ve nting suc h ac c e le ration in re spe c t of the oblig ations g uarante e d he re by and (y) in the e ve nt of any
de c laration of ac c e le ration of suc h oblig ations as provide d in Se c tion 6.0 2 he re of, suc h oblig ations (whe the r o r not due
and payable ) shall forthwith be c ome due and payable by the Subsidiary Guarantors for the purpose of this Subsidiary
Guarante e . The Subsidiary Guarantors shall have the rig ht to se e k c ontribution from any non-paying Subsidiary
Guarantor so long as the e xe rc ise of suc h rig ht doe s not impair the rig hts of the Holde rs unde r the Subsidiary Guarante e .

Se c tion 10 .0 2. Limitatio n o n Subsidiary Guaranto r Liability.

Eac h Subsidiary Guarantor , and by its ac c e ptanc e of Note s , e ac h Holde r , he re by c on rms that it is the
inte ntion of all suc h partie s that the Subsidiary Guarante e of suc h Subsidiary Guarantor not c onstitute a fraudule nt transfe r
o r c onve yanc e for purpose s of Bankruptc y Law , the U niform Fraudule nt Conve yanc e Ac t, the U niform Fraudule nt
Transfe r Ac t o r any similar fe de ral o r state law o r Canadian fe de ral o r provinc ial law to the e xte nt applic able to any
Subsidiary Guarante e . To e ffe c tuate the fore g oing inte ntion, the Truste e , the Holde rs and the Subsidiary Guarantors
he re by irre voc ably ag re e that the oblig ations of suc h Subsidiary Guarantor unde r this Artic le 10 shall be limite d to the
maximum amount as shall, afte r g iving e ffe c t to suc h maximum amount and all othe r c onting e nt and xe d liabilitie s of
suc h Subsidiary Guarantor that are re le vant unde r suc h laws, inc luding , if applic able, its g uarante e of all oblig ations unde r
the Cre dit Fac ility , and afte r g iving e ffe c t to any c olle c tions from, rig hts to re c e ive c ontribution from o r payme nts made
by or on be half of any othe r Subsidiary Guarantor in re spe c t of the oblig ations of suc h othe r Subsidiary Guarantor unde r
this Artic le 10 , re sult in the oblig ations of suc h Subsidiary Guarantor unde r its Subsidiary Guarante e not c onstituting a
fraudule nt transfe r or c onve yanc e .

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 Se c tion 10 .0 3. Evidenc e o f Subsidiary Guarantee .

To e vide nc e its Subsidiary Guarante e se t forth in S e c tio n 1 0 .0 1 he re of, e ac h Subsidiary Guarantor

he re by ag re e s that this Inde nture shall be e xe c ute d on be half of suc h Subsidiary Guarantor by an O f c e r of suc h
Subsidiary Guarantor .

Eac h Pe rson that is re quire d to be c ome a Subsidiary Guarantor afte r the Issue Date pursuant to Se c tion
4.17 of this Inde nture shall e xe c ute and de live r to the Truste e a supple me ntal inde nture substantially in the form of Exhibit
D he re to whic h subje c ts suc h Pe rson to the provisions of this Inde nture as a g uarantor of the Note s .

If an Of c e r whose sig nature is on this Inde nture o r on the Subsidiary Guarante e no long e r holds that
of c e at the time the Trus te e authe ntic ate s the N o te on whic h a Subsidiary Guarante e is e ndorse d, the Subsidiary
Guarante e shall be valid ne ve rthe le ss.

The de live ry of any Note by the Truste e , afte r the authe ntic ation the re of he re unde r, shall c onstitute due
de live ry of the Subsidiary Guarante e se t forth in this Inde nture on be half of the Subsidiary Guarantors .

Se c tion 10 .0 4. Subsidiary Guaranto rs May Co nso lidate, etc ., o n Certain T erms.

Exc e pt as othe rwise provide d in Se c tion 10 .0 5 he re of, no Subsidiary Guarantor may c onsolidate with or
me rg e with o r into (whe the r o r not suc h Subsidiary Guarantor is the surviving Pe rson ) anothe r P e rs on whe the r o r not
affiliate d with suc h Subsidiary Guarantor unle ss:

(a) subje c t to Se c tion 10 .0 5 he re of, the P e rson forme d by o r surviving any suc h c onsolidation or
me rg e r (if othe r than a Subsidiary Guarantor o r the Company ) unc onditionally assume s all the oblig ations of
suc h Subsidiary Guarantor , pursuant to a supple me ntal inde nture unde r this Inde nture , the Subsidiary Guarante e
; or

(b) the Subsidiary Guarantor c omplie s with the re quire me nts of Artic le 5 he re of.

In c ase of any suc h c onsolidation, me rg e r, sale o r c onve yanc e and upon the assumption by the
suc c e ssor Pe rson , by supple me ntal inde nture, e xe c ute d and de live re d to the Truste e of the Subsidiary Guarante e and the
due and punc tual pe rformanc e of all of the c ove nants and c onditions of this Inde nture to be pe rforme d by the Subsidiary
Guarantor , suc h suc c e ssor Pe rson shall suc c e e d to and be substitute d for the Subsidiary Guarantor with the same e ffe c t
as if it had be e n name d he re in as a Subsidiary Guarantor . All the Subsidiary Guarante e s so issue d shall in all re spe c ts
have the same le g al rank and be ne t unde r this Inde nture as the Subsidiary Guarante e s the re tofore and the re afte r issue d
in ac c ordanc e with the te rms of this Inde nture as thoug h all of suc h Subsidiary Guarante e s had be e n issue d at the date of
the e xe c ution he re of.

Exc e pt as se t forth in Artic le s 4 and 5 he re of, and notwithstanding c lause s (a) and (b) above, nothing
c ontaine d in this Inde nture o r in any of the Note s shall pre ve nt any c onsolidation o r me rg e r of a Subsidiary Guarantor
with or into the Company or anothe r Subsidiary Guarantor , o r shall pre ve nt any sale o r c onve yanc e of the prope rty of a
Subsidiary Guarantor as an e ntire ty or substantially as an e ntire ty to the Company or anothe r Subsidiary Guarantor .

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 Se c tion 10 .0 5. Releases Fo llo wing Sale o r Other Dispo sitio n o f Assets.

In the e ve nt of a sale o r othe r disposition of all of the asse ts of any Subsidiary Guarantor , by way of
me rg e r, c onsolidation or othe rwise , or a sale or othe r disposition of all of the c apital stoc k of any Subsidiary Guarantor ,
by way of me rg e r, c onsolidation or othe rwise, in e ac h c ase to a Pe rson that is not (e ithe r be fore o r afte r g iving e ffe c t to
suc h transac tions) a Subsidiary of the Company , the n (1) suc h Subsidiary Guarantor (in the e ve nt of a sale o r othe r
disposition , by way of me rg e r, c onsolidation or othe rwise, of all of the c apital stoc k of suc h Subsidiary Guarantor ) shall
be re le ase d and re lie ve d of any oblig ations unde r its Subsidiary Guarante e and (2) the c orporation ac quiring the prope rty
(in the e ve nt of a sale or othe r disposition , by way of me rg e r, c onsolidation or othe rwise, of all o r substantially all of the
asse ts of suc h Subsidiary Guarantor ) shall not be re quire d to de live r a Subsidiary Guarante e . U pon de live ry by the
Company to the Trus te e of an Offic e rs ’ Ce rti c ate and an Opinion of Counse l to the e ffe c t that suc h sale o r othe r
disposition was made by the Company in ac c ordanc e with the provisions of this Inde nture , inc luding without limitation
Se c tion 4.12 he re of to the e xte nt applic able , if applic able (provided that suc h opinion shall not, to the e xte nt Se c tion 4.12 is
applic able, addre ss the re quire d applic ation of Ne t Available Cash , if any), the Trus te e shall e xe c ute any doc ume nts
re asonably re quire d in orde r to e vide nc e the re le ase of any Subsidiary Guarantor from its oblig ations unde r its Subsidiary
Guarante e .

Any Subsidiary Guarantor not re le ase d from its oblig ations unde r its Subsidiary Guarante e shall re main
liable for the full amount of princ ipal of and inte re st on the Note s and for the othe r oblig ations of any Subsidiary Guarantor
unde r this Inde nture as provide d in this Artic le 10 .

ART ICLE 11.

SAT ISFACT ION AND DISCHARGE

Se c tion 11.0 1. Satisfac tio n and Disc harg e.

This Inde nture will be disc harg e d and will c e ase to be of furthe r e ffe c t, e xc e pt as to surviving rig hts of
re g istration of transfe r or e xc hang e of the Note s , as to all Note s issue d he re unde r, whe n:

(a) e ithe r:

(i) all Note s that have be e n pre viously authe ntic ate d (e xc e pt lost, stole n o r de stroye d
No te s that have be e n re plac e d o r paid and No te s for whose payme nt mone y has pre viously be e n
de posite d in trust or se g re g ate d and he ld in trust by the Company and is the re afte r re paid to the Company
or disc harg e d from the trust) have be e n de live re d to the Truste e for c anc e llation; or

(ii) all Note s that have not be e n pre viously de live re d to the Truste e for c anc e llation (A)
have be c ome due and payable or (B) will be c ome due and payable at the ir maturity within one ye ar o r (C)
are to be c alle d for re de mption within one ye ar unde r arrang e me nts satisfac tory to the Truste e for the
g iving of a notic e of re de mption by the Truste e , and the Company has irre voc ably de posite d o r c ause d
to be de posite d with the Trus te e sole ly for the be ne t of the Holde rs , c ash in U.S. dollars, U .S.
Gove rnme nt Oblig ations , o r a c ombination the re of, in suc h amounts as will be suf c ie nt without
c onside ration of any re inve stme nt of inte re st, to pay and disc harg e the e ntire De bt on the No te s not
pre viously de live re d to the Trus te e for c anc e llation for princ ipal, pre mium, if any, and inte re st on the
Note s to the date of de posit, in the c ase of Note s that have be c ome due

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 and payable, o r to the State d Maturity o r re de mption date, as the c ase may be (for the avoidanc e of
doubt, in the c ase of a disc harg e that oc c urs in c onne c tion with a re de mption that is to oc c ur on a
re de mption date, and the amount re quire d to pay and disc harg e the e ntire D e bt on the No te s with
c e rtainty, the amount to be de posite d shall be the amount that, as of the date of suc h de posit, is de e me d
suf c ie nt to make suc h payme nt and disc harg e on the re de mption date, in the g ood faith de te rmination of
the Company as se t forth in an Offic e rs ’ Ce rtific ate );

(b) the Company has paid or c ause d to be paid all othe r sums payable by it unde r this Inde nture ; and

(c ) the Company de live rs to the Truste e an Offic e rs ’ Ce rti c ate and Opinion of Counse l stating that
all c onditions pre c e de nt unde r this Inde nture re lating to the satisfac tion and disc harg e of this Inde nture have be e n
satisfie d.

Se c tion 11.0 2. Depo sited Cash and U.S. Go vernment Oblig atio ns to Be Held in T rust; Other
Misc ellaneo us P ro visio ns.

Subje c t to Se c tion 11.0 3 he re of, all c ash and U.S. Gove rnme nt Oblig ations (inc luding the proc e e ds
the re of) de posite d with the Trus te e (o r othe r qualifying truste e, c olle c tive ly for purpose s of this S e c tio n 11.0 2, the
“Truste e ”) pursuant to Se c tion 11.0 1 he re of in re spe c t of the outstanding Note s shall be he ld and applie d by the Truste e ,
in ac c ordanc e with the provisions of suc h Note s and this Inde nture , to the payme nt, e ithe r dire c tly or throug h any Paying
Ag e nt (inc luding the Company ac ting as Paying Ag e nt) as the Truste e may de te rmine , to the Holde rs of suc h Note s of all
sums due and to be c ome due the re on in re spe c t of princ ipal, pre mium, if any, and inte re st, but suc h c ash and se c uritie s
ne e d not be se g re g ate d from othe r funds e xc e pt to the e xte nt re quire d by law.

Se c tion 11.0 3. Repayment to Co mpany .

Any c ash or U .S. Gove rnme nt Oblig ations de posite d with the Truste e or any Paying Ag e nt , or the n he ld
by the Company , for the payme nt of the princ ipal of, pre mium, if any, o r inte re st on any Note and re maining unc laime d
for two ye ars afte r suc h princ ipal, and pre mium, if any, o r inte re st has be c ome due and payable shall be paid to the
Company on its re que st o r (if the n he ld by the Company ) shall be disc harg e d; and the Holde r shall the re afte r, as an
unse c ure d c re ditor, look only to the Company for payme nt the re of, and all liability of the Truste e o r s uc h Paying Ag e nt
with re spe c t to suc h c ash and se c uritie s, and all liability of the Company as truste e the re of, shall the re upon c e ase ; provided
, however, that the Trus te e o r s uc h Paying Ag e nt , be fore be ing re quire d to make any suc h re payme nt, may at the
e xpe nse of the Company c ause to be publishe d onc e, in The Ne w York Time s and The Wall Stre e t Journal (national
e dition), notic e that suc h c ash and se c uritie s re mains unc laime d and that, afte r a date spe c i e d the re in, whic h shall not be
le ss than 30 days from the date of suc h noti c ation or public ation, any unc laime d balanc e of suc h c ash and se c uritie s the n
re maining will be re paid to the Company .

ART ICLE 12.

MISCELLANEOUS

Se c tion 12.0 1. T rust Indenture Ac t Co ntro ls.

If any provision of this Inde nture limits, qualifie s or c onflic ts with anothe r provision whic h is re quire d to be
inc lude d in this Inde nture by the TIA , inc luding the dutie s impose d by TIA § 318(c ), the provision re quire d by the TIA ,
inc luding the dutie s impose d by TIA § 318(c ), shall c ontrol .

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 Se c tion 12.0 2. No tic es.

Any notic e or c ommunic ation by the Company o r the Truste e to the othe r is duly g ive n if in writing and
de live re d in pe rson o r maile d by rst c lass mail (re g iste re d o r c e rti e d, re turn re c e ipt re que ste d), fac simile o r ove rnig ht
air c ourie r g uarante e ing ne xt-day de live ry, to the othe r’s addre ss:

If to the Company or a Subsidiary Guarantor :

Casc ade s Inc .

40 4 Marie -Vic torin Blvd.
P.O. Box 30
King se y Falls, Qué be c
Canada J0 A 1B0
Atte ntion: Chie f Financ ial Offic e r
Fac simile No.: (819) 363-5155

With a c opy to:

Jone s Day
222 East 41st Stre e t
Ne w York, Ne w York 10 0 17
Atte ntion: J. Eric Maki, Esq.
Fac simile No.: (212) 755-730 6

If to the Truste e :

We lls Farg o Bank, National Assoc iation

150 East 42nd Stre e t, 40 th Floor
Ne w York, Ne w York 10 0 17
Atte ntion: Corporate Trust Se rvic e s — Administrator for Casc ade s Inc .
Fac simile No.: (917) 260 -1593

The Company or the Truste e , by notic e to the othe r, may de sig nate additional or diffe re nt addre sse s for
subse que nt notic e s or c ommunic ations.

All notic e s and c ommunic ations (othe r than those se nt to the Truste e ) shall be de e me d to have be e n duly
g ive n: at the time de live re d by hand, if pe rsonally de live re d; upon be ing de posite d in the mail, postag e pre paid, if maile d;
whe n re c e ipt ac knowle dg e d, if via fac simile ; and the ne xt Busine ss Day afte r time ly de live ry to the c ourie r, if se nt by
ove rnig ht air c ourie r g uarante e ing ne xt-day de live ry. All notic e s and c ommunic ations to the Truste e shall be de e me d
duly g ive n and e ffe c tive only upon re c e ipt.

Any notic e o r c ommunic ation to a Holde r shall be de live re d to the fac ilitie s of DTC o r maile d by rst
c lass mail, c e rti e d or re g iste re d, re turn re c e ipt re que ste d, or by ove rnig ht air c ourie r g uarante e ing ne xt-day de live ry to
its addre ss shown on the Se c urity Re g iste r . Any notic e o r c ommunic ation shall also be so maile d to any Pe rson
de sc ribe d in TIA § 313(c ), to the e xte nt re quire d by the TIA . Failure to mail a notic e o r c ommunic ation to a Holde r or
any de fe c t in it shall not affe c t its suffic ie nc y with re spe c t to othe r Holde rs .

If a notic e or c ommunic ation is maile d in the manne r provide d above within the time pre sc ribe d, it is duly
g ive n, whe the r or not the addre sse e re c e ive s it.

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 If the Company mails a notic e or c ommunic ation to Holde rs , it shall mail a c opy to the Truste e and e ac h
Ag e nt at the same time .

Se c tion 12.0 3. Co mmunic atio n by Ho lders o f No tes with Other Ho lders o f No tes.

Holde rs may c ommunic ate pursuant to TIA § 312(b) with othe r Holde rs with re spe c t to the ir rig hts unde r
this Inde nture or the Note s . The Company , the Truste e , the Re g istrar and anyone e lse shall have the prote c tion of TIA
§ 312(c ).

Se c tion 12.0 4. Certific ate and Opinio n as to Co nditio ns P rec edent.

U pon any re que st or applic ation by the Company to the Truste e to take any ac tion unde r any provision
of this Inde nture , the Company shall furnish to the Truste e :

(a) an Offic e rs ’ Ce rti c ate (whic h shall inc lude the state me nts se t forth in Se c tion 12.0 5 he re of)
stating that, in the opinion of the sig ne rs, all c onditions pre c e de nt and c ove nants, if any, provide d for in this
Inde nture re lating to the propose d ac tion have be e n c omplie d with; and

(b) an Opinion of Counse l (whic h shall inc lude the state me nts se t forth in Se c tion 12.0 5 he re of)
stating that, in the opinion of suc h c ounse l, all suc h c onditions pre c e de nt and c ove nants have be e n c omplie d with.

Se c tion 12.0 5. Statements Required in Certific ate o r Opinio n.

Eac h c e rti c ate o r opinion with re spe c t to c omplianc e with a c ondition o r c ove nant provide d for in this
Inde nture (othe r than a c e rti c ate provide d pursuant to TIA § 314(a)(4)) shall c omply with the provisions of TIA § 314(e )
and shall inc lude :

(a) a state me nt that the P e rson making suc h c e rti c ate o r opinion has re ad suc h c ove nant or
c ondition;

(b) a brie f state me nt as to the nature and sc ope of the e xamination or inve stig ation upon whic h the
state me nts or opinions c ontaine d in suc h c e rtific ate or opinion are base d;

(c ) a state me nt that, in the opinion of suc h Pe rson , he o r she has made suc h e xamination or
inve stig ation as is ne c e ssary to e nable suc h P e rson to e xpre ss an informe d opinion as to whe the r o r not suc h
c ove nant or c ondition has be e n c omplie d with; and

(d) a state me nt as to whe the r or not, in the opinion of suc h Pe rson , suc h c ondition or c ove nant has
be e n c omplie d with.

With re spe c t to matte rs of fac t, an Opinion of Counse l may re ly on an Offic e rs ’ Ce rtific ate o r c e rtific ate s
of public offic ials.

Se c tion 12.0 6. Rules by T rustee and Ag ents .

The Truste e may make re asonable rule s for ac tion by o r at a me e ting of Holde rs . The Re g istrar or
Paying Ag e nt may make re asonable rule s and se t re asonable re quire me nts for its func tions.

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 Se c tion 12.0 7. No P erso nal Liability o f Direc to rs, Offic ers , Emplo yees and Sto c kho lders.

No past, pre se nt o r future dire c tor, of c e r, e mploye e, inc orporator o r stoc kholde r of the Company or
a ny Subsidiary Guarantor , as suc h, shall have any liability for any oblig ations of the Company o r of the Subsidiary
Guarantors unde r the Note s , this Inde nture , the Subsidiary Guarante e s o r for any c laim base d on, in re spe c t of, o r by
re ason of, suc h oblig ations o r the ir c re ation. Eac h Holde r o f Note s by ac c e pting a Note waive s and re le ase s all suc h
liability. The waive r and re le ase are part of the c onside ration for issuanc e of the Note s .

Se c tion 12.0 8. Go verning Law; Waiver o f Jury T rial.

THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE U SED TO
CONSTRU E THIS INDENTU RE AND THE NOTES WITHOU T GIVING EFFECT TO APPLICABLE
PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF
ANOTHER JU RISDICTION WOU LD BE REQU IRED THEREBY.

EACH OF THE PARTIES HERETO AND EACH H O LD E R OF A SECU RITY BY ITS

ACCEPTANCE THEREOF, HEREBY IRREVOCABLY WAIVES TO THE FU LLEST EXTENT PERMITTED BY
APPLICABLE LAW ANY AND ALL RIGHT TO TRIAL BY JU RY IN ANY LEGAL PROCEEDING AMONG THE
PARTIES HERETO ARISING OU T OF OR RELATING TO THIS INDENTU RE, THE SECU RITIES OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

Se c tion 12.0 9. No Adverse Interpretatio n o f Other Ag reements.

This Inde nture may not be use d to inte rpre t any othe r inde nture, loan or de bt ag re e me nt of the Company
or its Subsidiarie s or of any othe r Pe rson . Any suc h inde nture, loan or de bt ag re e me nt may not be use d to inte rpre t this
Inde nture .

Se c tion 12.10 . Suc c esso rs.

All c ove nants and ag re e me nts of the Co mpa ny in this Inde nture and the N o te s shall bind its
suc c e ssors. All c ove nants and ag re e me nts of the Truste e in this Inde nture shall bind its suc c e ssors.

Se c tion 12.11. Severability.

In c ase any provision in this Inde nture o r in the No te s shall be invalid, ille g al o r une nforc e able, the
validity, le g ality and e nforc e ability of the re maining provisions shall not in any way be affe c te d or impaire d the re by.

Se c tion 12.12. Co nsent to Jurisdic tio n and Servic e o f P ro c ess.

(a) The Company irre voc ably c onse nts to the jurisdic tion of the c ourts of the State of Ne w York and
the c ourts of the U nite d State s of Ame ric a loc ate d in the Boroug h of Manhattan, City and State of Ne w York ove r any
suit, ac tion or proc e e ding with re spe c t to this Inde nture o r the transac tions c onte mplate d he re by. The Company waive s
any obje c tion that it may have to the ve nue of any suit, ac tion o r proc e e ding with re spe c t to this Inde nture o r the
transac tions c onte mplate d he re by in the c ourts of the State of Ne w York or the c ourts of the U nite d State s of Ame ric a, in
e ac h c ase, loc ate d in the Boroug h of Manhattan, City and State of Ne w York, o r that suc h suit, ac tion o r proc e e ding
broug ht in the

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c ourts of the State of Ne w York or the U nite d State s of Ame ric a, in e ac h c ase, loc ate d in the Boroug h of Manhattan, City
and State of Ne w York was broug ht in an inc onve nie nt c ourt and ag re e s not to ple ad or c laim the same .

(b) The Company irre voc ably appoints Casc ade s U SA Inc ., as its authoriz e d ag e nt in the State of
Ne w York upon whic h proc e ss may be se rve d in any suc h suit o r proc e e ding s, and ag re e s that se rvic e of proc e ss upon
suc h ag e nt, and writte n notic e of said se rvic e to Casc ade s U SA Inc ., by the pe rson se rving the same to the addre ss
provide d in Se c tion 12.0 2 he re of, shall be de e me d in e ve ry re spe c t e ffe c tive se rvic e of proc e ss upon the Company in any
suc h suit o r proc e e ding . The Company furthe r ag re e s to take any and all ac tion as may be ne c e ssary to maintain suc h
de sig nation and appointme nt of suc h ag e nt in full forc e and e ffe c t for a pe riod of 10 ye ars from the date of this Inde nture .

Se c tion 12.13. Co nversio n o f Currenc y.

The Company c ove nants and ag re e s that the following provisions shall apply to c onve rsion of c urre nc y
in the c ase of the Note s and this Inde nture :

(a) (i) If, for the purpose of obtaining judg me nt in, or e nforc ing the judg me nt of, any c ourt in any
c ountry, it be c ome s ne c e ssary to c onve rt into a c urre nc y (the “ judgment currency”) an amount due in any othe r
c urre nc y (the “Base Currency”), the n the c onve rsion shall be made at the rate of e xc hang e pre vailing on the
Busine ss Day be fore the day on whic h the judg me nt is g ive n o r the orde r of e nforc e me nt is made, as the c ase
may be (unle ss a c ourt shall othe rwise de te rmine ).

(b) (ii) If the re is a c hang e in the rate of e xc hang e pre vailing be twe e n the Busine ss Day be fore
the day on whic h the judg me nt is g ive n o r an orde r of e nforc e me nt is made, as the c ase may be ( o r suc h othe r
date as a c ourt shall de te rmine ), and the date of re c e ipt of the amount due, the Company will pay suc h additional
(or , as the c ase may be, suc h le sse r) amount, if any, as may be ne c e ssary so that the amount paid in the
judg me nt c urre nc y whe n c onve rte d at the rate of e xc hang e pre vailing on the date of re c e ipt will produc e the
amount in the Base Curre nc y orig inally due .

(c ) In the e ve nt of the winding -up of the Company at any time while any amount o r damag e s owing
unde r the No te s and this Inde nture , o r any judg me nt o r orde r re nde re d in re spe c t the re of, shall re main
outstanding , the Company shall inde mnify and hold the Holde rs and the Truste e harmle ss ag ainst any de c ie nc y
arising or re sulting from any variation in rate s of e xc hang e be twe e n (1) the date as of whic h the e quivale nt of the
amount in U.S. Dollars o r Canadian Dollars, as the c ase may be, due o r c onting e ntly due unde r the No te s and
this Inde nture (othe r than unde r this Subse c tion (b)) is c alc ulate d for the purpose s of suc h winding -up and (2) the
nal date for the ling of proofs of c laim in suc h winding -up. For the purpose of this Subse c tion (b), the nal date
for the ling of proofs of c laim in the winding -up of the Company shall be the date xe d by the liquidator or
othe rwise in ac c ordanc e with the re le vant provisions of applic able law as be ing the late st prac tic able date as at
whic h liabilitie s of the Company may be asc e rtaine d for suc h winding -up prior to payme nt by the liquidator or
othe rwise in re spe c t the re to.

(d) The oblig ations c ontaine d in Subse c tions (a)(ii) and (b) of this Se c tion 12.13 shall c onstitute
oblig ations of the Company se parate and inde pe nde nt from its othe r re spe c tive oblig ations unde r the Note s and
this Inde nture , shall g ive rise to se parate and inde pe nde nt c ause s of ac tion ag ainst the Company , shall apply
irre spe c tive of any waive r o r e xte nsion g rante d by any Holde r o r the Truste e o r any of the m from time to time
and shall c ontinue in full forc e and e ffe c t notwithstanding any judg me nt or orde r or the ling of any proof of c laim
in the winding -up of the

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 Company for a liquidate d sum in re spe c t of amounts due he re unde r (othe r than unde r Subse c tion (b) above ) or
unde r any suc h judg me nt or orde r. Any suc h de c ie nc y as afore said shall be de e me d to c onstitute a loss suffe re d
by the Holde rs or the Truste e , as the c ase may be, and no proof or e vide nc e of any ac tual loss shall be re quire d
by the Company or the liquidator o r othe rwise any of the m. In the c ase of Subse c tion (b) above, the amount of
suc h de c ie nc y shall not be de e me d to be re duc e d by any variation in rate s of e xc hang e oc c urring be twe e n the
said final date and the date of any liquidating distribution.

(e ) The te rm “rate (s) of e xc hang e ” shall me an the noon buying rate for c able transfe rs as c e rti e d
for c ustoms purpose s by the Bank of Canada be twe e n the Base Curre nc y and judg me nt c urre nc y othe r than the
Base Curre nc y re fe rre d to in Subse c tions (a) and (b) above and inc lude s any pre miums and c osts of e xc hang e
payable .

(f) The Truste e shall have no duty o r liability with re spe c t to monitoring o r e nforc ing this Se c tion
12.13.

Se c tion 12.14. Currenc y Equivalent.

Exc e pt as pro vide d i n S e c tio n 1 2 .1 3 he re of, for purpose s of the c onstruc tion of the te rms of this
Inde nture o r of the Note s , in the e ve nt that any amount is state d he re in in the c urre nc y of one nation (the “First
Currency”), as of any date suc h amount shall also be de e me d to re pre se nt the amount in the c urre nc y of any othe r
re le vant nation (the “Other Currency”) whic h is re quire d to purc hase suc h amount in the First Curre nc y at the noon buying
rate for c able transfe rs c on rme d for c ustoms purpose s by the Bank of Canada be twe e n the First Curre nc y a nd Othe r
Curre nc y on the date of de te rmination.

Se c tion 12.15. Co unterpart Orig inals.

The partie s may sig n any numbe r of c opie s of this Inde nture . Eac h sig ne d c opy shall be an orig inal, but
all of the m tog e the r re pre se nt the same ag re e me nt.

Se c tion 12.16. T able o f Co ntents, Heading s, etc .

The Table of Conte nts, Cross Re fe re nc e Table and He ading s in this Inde nture have be e n inse rte d for
c onve nie nc e of re fe re nc e only, are not to be c onside re d a part of this Inde nture and shall in no way modify or re stric t any
of the te rms or provisions he re of.

Se c tion 12.17. U.S.A. P atrio t Ac t

The partie s he re to ac knowle dg e that in ac c ordanc e with Se c tion 326 of the U.S.A. Patriot Ac t, the
Truste e , like all nanc ial institutions and in orde r to he lp g ht the funding of te rrorism and mone y launde ring , is re quire d
to obtain, ve rify, and re c ord information that ide nti e s e ac h pe rson or le g al e ntity that e stablishe s a re lationship o r ope ns
an ac c ount with the Truste e . The partie s to this Inde nture ag re e that the y will provide the Truste e with suc h information
as is re quire d to satisfy the re quire me nts of the U .S.A. Patriot Ac t.

[Sig nature s on following pag e ]

-10 2-
 SIGNATU RES

COMP ANY :

CASCADES INC.

By: /s/ Robe rt F. Hall

Name : Robe rt F. Hall
Title : Vic e Pre side nt, Le g al Affairs and
Corporate Se c re tary

GUARANT ORS :

40 1 47 th STREET HOLDING LLC

4626 ROYAL AVENU E HOLDING LLC
CASCADES HOLDING U S INC.
CASCADES TISSU E GROU P – NEW YORK INC.
CASCADES U SA INC.
NORAMPAC INDU STRIES INC.
NORAMPAC NEW YORK CITY INC.
NORAMPAC SCHENECTADY INC.

By: /s/ Louise Paul

Name : Louise Paul
Title : Assistant Se c re tary

7251637 CANADA INC.

7678169 CANADA INC.
CASCADES CANADA U LC
CASCADES FINE PAPERS GROU P INC.
CASCADES GIE INC.
CASCADES PAPERBOARD INTERNATIONAL INC.
CASCADES MARITIME INC.
CASCADES TENDERCO INC.
CASCADES TRANSPORT INC.
CASCADES TRANSPORT CABANO INC.
KINGSEY FALLS INVESTMENTS INC.
NORAMPAC EXPORT SALES CORP.

By: /s/ Robe rt F. Hall

Name : Robe rt F. Hall
Title : Se c re tary or Assistant Se c re tary

[Casc ade s - Sig nature Pag e to Inde nture ]

 T RUST EE :

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Truste e

By: /s/ Martin Re e d

Name : Martin Re e d
Title : Vic e Pre side nt

[Casc ade s - Sig nature Pag e to Inde nture ]

 EXHIBIT A

(Fac e of Note )

5.75% Senio r No tes due 20 23

CU SIP 144A: 14690 0 AQ8

ISIN 144A: S14690 0 AQ85
CU SIP REG S: C2174EAH5
ISIN REG S: U SC2174EAH56

No . ___ $ _____________

CASCADES INC.

promise s to pay to ___________________ or re g iste re d assig ns, the princ ipal sum of _________________ U nite d State s
Dollars ($______________) on July 15, 20 23

Inte re st Payme nt Date s : January 15 and July 15, c omme nc ing January 15, 20 16.

Re c ord Date s: January 1 and July 1

Date d: ________________

A-1
 IN WITNESS WHEREOF, the Company has c ause d this Note to be sig ne d manually, by fac simile o r by
portable doc ume nt format by its duly authoriz e d offic e r.

CASCADES INC.

By:
Name :
Title :

This is one of the [Global] Note s re fe rre d

to in the within-me ntione d Inde nture :

WELLS FARGO BANK, NATIONAL ASSOCIATION

as Truste e

By:
Authoriz e d Sig natory

Date d : __________________

A-2
 (Bac k of Note )

5.75% Se nior Note s due 20 23

[Insert the Global Note Legend , if applicable pursuant to the terms of the Indenture ]

[Insert the Private Placement Legend, if applicable pursuant to the terms of the Indenture ]

[Insert the Canadian Resale Legend, if applicable pursuant to the terms of the Indenture ]

Capitaliz e d te rms use d he re in shall have the me aning s assig ne d to the m in the Inde nture re fe rre d to
be low unle ss othe rwise indic ate d.

1 . Interest. Casc ade s Inc ., a c ompany org aniz e d unde r the laws of Qué be c , Canada (the
“Company”), promise s to pay inte re st on the princ ipal amount of this Note at 5.75% pe r annum until maturity. The
Company shall pay inte re st se mi-annually on January 15 and July 15 of e ac h ye ar, or if any suc h day is not a Busine ss Day
, on the ne xt suc c e e ding Busine ss Day (e ac h an “ Interest Payment Date ”). Inte re st on the Note s shall ac c rue from the
most re c e nt date to whic h inte re st has be e n paid or , if no inte re st has be e n paid, from the date of issuanc e ; provided ,
however, that if the re is no e xisting De fault in the payme nt of inte re st, and if this Note is authe ntic ate d be twe e n a re c ord
date re fe rre d to on the fac e he re of and the ne xt suc c e e ding Inte re st Payme nt Date , inte re st shall ac c rue from suc h ne xt
suc c e e ding Inte re st Payme nt Date ; provided , further, that the rst Inte re st Payme nt Date shall be the rst of January 15
or July 15 to oc c ur afte r the date of issuanc e, unle ss suc h January 15 or July 15 oc c urs within one c ale ndar month of suc h
date of issuanc e, in whic h c ase the rst Inte re st Payme nt Date shall be the se c ond of January 15 or July 15 to oc c ur afte r
the date of issuanc e . The Company shall pay inte re st on ove rdue princ ipal and pre mium, if any, from time to time at a rate
that is 1% pe r annum in e xc e ss of the inte re st rate the n in e ffe c t unde r the Inde nture and this Note ; it shall pay inte re st on
ove rdue installme nts of inte re st (without re g ard to any applic able g rac e pe riods) from time to time at the same rate to the
e xte nt lawful. Inte re st shall be c ompute d on the basis of a 360 day ye ar of twe lve 30 day months. For the purpose s of the
Inte re st Ac t (Canada), the ye arly rate of inte re st whic h is e quivale nt to the rate payable he re unde r is the rate payable
multiplie d by the ac tual numbe r of days in the ye ar and divide d by 360 .

2. Metho d o f P ayment. The Company shall pay inte re st on the Note s (e xc e pt de faulte d inte re st) to
the Pe rsons in whose name this Note (o r o ne o r more Pre de c e ssor Note s ) is re g iste re d at the c lose of busine ss on the
January 1 o r July 1 ne xt pre c e ding the Inte re st Payme nt Date , e ve n if suc h Note s are c anc e lle d afte r suc h re c ord date
and on o r be fore suc h Inte re st Payme nt Date , e xc e pt as provide d in Se c tion 2.12 of the Inde nture with re spe c t to
de faulte d inte re st. The Note s shall be payable as to princ ipal, pre mium, if any, and inte re st at the of c e or ag e nc y of the
Company maintaine d for suc h purpose, or , at the option of the Company , payme nt of inte re st may be made by c he c k
maile d to the Holde rs at the ir addre sse s se t forth in the Se c urity Re g iste r ; provided , however, that payme nt by wire
transfe r of imme diate ly available funds shall be re quire d with re spe c t to princ ipal of and inte re st and pre mium, if any, on all
Global Note s and all othe r Note s the Holde rs of whic h shall have provide d wire transfe r instruc tions to the Company or
the Paying Ag e nt . Suc h payme nt shall be in suc h c oin o r c urre nc y of the U nite d State s of Ame ric a as at the time of
payme nt is le g al te nde r for payme nt of public and private de bts.

3 . P aying Ag ent and Reg istrar . Initially, We lls Farg o Bank, National Assoc iation, the Truste e
unde r the Inde nture , shall ac t as Paying Ag e nt a n d Re g istrar . The Co mpany may c hang e any Paying Ag e nt or
Re g istrar without notic e to any Holde r . The Company or any of its Subsidiarie s may ac t in any suc h c apac ity.

A-3
 4 . Indenture . The Company issue d the No te s unde r an Inde nture date d as of May 19, 20 15
(“Indenture”) among the Company , the subsidiary g uarantors party the re to (the “Guarantors”) and the Truste e . The
te rms of the Note s inc lude those state d in the Inde nture and those made part of the Inde nture by re fe re nc e to the Trust
Inde nture Ac t of 1939, as ame nde d (15 U.S. Code § § 77aaa-77bbbb)(the “TIA”). The No te s are subje c t to all suc h
te rms, and Holde rs are re fe rre d to the Inde nture and the TIA for a state me nt of suc h te rms. To the e xte nt any provision
of this Note c on ic ts with the provisions of the Inde nture , as it may be ame nde d o r supple me nte d, the provisions of the
Inde nture shall g ove rn and be c ontrolling .

5. Optio nal Redemptio n.

(a) The Company may c hoose to re de e m the Note s at any time. If it doe s so, it may re de e m all or
any portion of the Note s , at onc e o r ove r time, afte r g iving the re quire d notic e unde r the Inde nture . To re de e m the
Note s prior to July 15, 20 18, the Company must pay a re de mption pric e e qual to the g re ate r of:

(i) 10 0 % of the princ ipal amount of the Note s to be re de e me d, and

(ii) the sum of the pre se nt value s of (1) the re de mption pric e of the Note s at July 15, 20 18 (as se t
forth be low) and (2) the re maining sc he dule d payme nts of inte re st from the re de mption date to July 15, 20 18 but
e xc luding ac c rue d and unpaid inte re st to the re de mption date, disc ounte d to the date of re de mption on a se mi-
annual basis (assuming a 360 -day ye ar c onsisting of twe lve 30 -day months), at the Tre asury Rate (de te rmine d on
the se c ond busine ss day imme diate ly pre c e ding the date of re de mption) plus 50 basis points,

plus, in e ithe r c ase, ac c rue d and unpaid inte re st to the re de mption date (subje c t to the rig ht of holde rs of re c ord on the
re le vant re c ord date to re c e ive inte re st due on the re le vant inte re st payme nt date ).

Any notic e to Holde rs o f No te s of suc h a re de mption will inc lude the appropriate c alc ulation of the
re de mption pric e, but ne e d not inc lude the re de mption pric e itse lf. The ac tual re de mption pric e, c alc ulate d as de sc ribe d
above, will be se t forth in an Offic e rs ’ Ce rti c ate de live re d to the Truste e no late r than two busine ss days prior to the
re de mption date (unle ss c lause (b) of the de nition of “Comparable Tre asury Pric e ” is applic able, in whic h c ase suc h
Offic e rs ’ Ce rtific ate shall be de live re d on the re de mption date ).

(b) Be g inning on July 15, 20 18, the Company may re de e m all or any portion of the Note s , at onc e
or ove r time, afte r g iving the re quire d notic e unde r this Inde nture , at the re de mption pric e s se t forth be low, plus ac c rue d
and unpaid inte re st on the Note s re de e me d to the applic able re de mption date (subje c t to the rig ht of Holde rs of re c ord on
the re le vant re c ord date to re c e ive inte re st due on the re le vant inte re st payme nt date ). The following pric e s are for Note s
re de e me d during the 12-month pe riod c omme nc ing on July 15 of the ye ars se t forth be low, and are e xpre sse d as
pe rc e ntag e s of princ ipal amount:

Re d e m p tio n Ye ar Pric e

20 18 10 4.313 %
20 19 10 2.875 %
20 20 10 1.438 %
20 21 and the re afte r 10 0 .0 0 0 %

A-4
 (c ) In addition, at any time and from time to time, prior to July 15, 20 18, the Company may re de e m
up to a maximum of 35% of the ag g re g ate princ ipal amount of the Note s (inc luding Additional Note s ) with the proc e e ds
of one or more Quali e d Equity Issuanc e s , at a re de mption pric e e qual to 10 5.75% of the princ ipal amount the re of, plus
ac c rue d and unpaid inte re st the re on, to the re de mption date (subje c t to the rig ht of Holde rs of re c ord on the re le vant
re c ord date to re c e ive inte re st due on the re le vant inte re st payme nt date ); provided , however, that afte r g iving e ffe c t to
any suc h re de mption, at le ast 65% of the ag g re g ate princ ipal amount of the Note s (inc luding Additional Note s ) re mains
outstanding . Any suc h re de mption shall be made within 180 days of suc h Qualifie d Equity Issuanc e upon not le ss than 30
days’ nor more than 60 days’ prior notic e .

(d) The Company may at any time re de e m, in whole but not in part, the outstanding Note s (upon
g iving notic e in ac c ordanc e with the Inde nture , whic h notic e shall be irre voc able ) at a re de mption pric e of 10 0 % of the
princ ipal amount the re of, plus ac c rue d and unpaid inte re st to the date of re de mption, and all Additional Amounts (if any)
the n due and whic h will be c ome due on the date of re de mption as a re sult of the re de mption o r othe rwise, if on the ne xt
date on whic h any amount would be payable in re spe c t of the Note s , the Company has be c ome o r would be c ome
oblig ate d to pay any Additional Amounts in re spe c t of the Note s , and the Company c annot avoid any suc h payme nt
oblig ation by taking re asonable me asure s available to it, as a re sult of (i) any c hang e in o r ame ndme nt to the laws ( or
re g ulations promulg ate d the re unde r) of a re le vant Tax Jurisdic tion , o r (ii) any c hang e in o r ame ndme nt to any of c ial
position (inc luding an of c ial administrative ruling ) re g arding the applic ation or inte rpre tation of suc h laws o r re g ulations
(inc luding a c hang e by virtue of a holding , judg me nt o r orde r by a c ourt of c ompe te nt jurisdic tion), whic h c hang e or
ame ndme nt is announc e d and be c ome s e ffe c tive on or afte r the Issue Date (or , if the applic able re le vant Tax Jurisdic tion
be c ame a Tax Jurisdic tion on a date afte r the Issue Date , suc h late r date ).

(e ) Any pre payme nt pursuant to this parag raph shall be made pursuant to the provisions of Se c tions
3.0 1 throug h 3.0 7 of the Inde nture .

(f) Notwithstanding the fore g oing , the Company may e le c t to e ffe c t any optional re de mption
dire c tly or throug h a Re stric te d Subsidiary .

6 . Mandato ry Redemptio n . Exc e pt as se t forth in Se c tions 4.12 and 4.16 of the Inde nture , the
Company shall not be re quire d to make mandatory re de mption or sinking fund payme nts with re spe c t to the Note s .

7. Repurc hase at Optio n o f Ho lder.

(a) U pon the oc c urre nc e of a Chang e of Control , the Company shall offe r to re purc hase all o r any
part (e qual to U S$2,0 0 0 o r an inte g ral multiple of U S$1,0 0 0 in e xc e ss the re of) of the No te s (a “Change of Control
Offer”) at a purc hase pric e in c ash e qual to 10 1% of the ag g re g ate princ ipal amount of the No te s re purc hase d, plus
ac c rue d and unpaid inte re st on the Note s re purc hase d to the purc hase date (subje c t to the rig ht of Holde rs on the re le vant
re c ord date to re c e ive inte re st to, but e xc luding , the Chang e of Control Payme nt Date ). Eac h Holde r shall have the rig ht
to re quire the Company to re purc hase all or any part (e qual to U S$2,0 0 0 o r an inte g ral multiple of U S$1,0 0 0 in e xc e ss
the re of) of suc h Holde r ’s Note s pursuant to suc h offe r.

(b) Any Ne t Available Cash from Asse t Sale s that is not applie d as provide d in Se c tion 4.12(b) of the
Inde nture will c onstitute Exc e ss Proc e e ds (“Excess Proceeds”). Whe n the ag g re g ate amount of Exc e ss Proc e e ds
e xc e e ds $150 .0 million (not taking into ac c ount inc ome e arne d on suc h Exc e ss Proc e e ds , if any), the Company shall
c omme nc e an offe r to all Holde rs by applying the Alloc able Exc e ss Proc e e ds (an “Asset Sale Offer”) pursuant to Se c tion
3.0 9 of the Inde nture to purc hase

A-5
the maximum princ ipal amount of Note s (inc luding any Additional Note s ) that may be purc hase d out of the Ne t Available
Cash at an offe r pric e in c ash e qual to 10 0 % of the princ ipal amount the re of plus ac c rue d and unpaid inte re st to the date
xe d for the c losing of suc h offe r in ac c ordanc e with the proc e dure s se t forth in the Inde nture . To the e xte nt that the
ag g re g ate amount of Note s (inc luding Additional Note s ) te nde re d pursuant to an Asse t Sale O ffe r is le ss than the Ne t
Available Cash , the Company (or suc h Re stric te d Subsidiary ) may use suc h de c ie nc y for any purpose not prohibite d by
the Inde nture . If the ag g re g ate princ ipal amount of Note s surre nde re d by Holde rs the re of e xc e e ds the amount of Ne t
Available Cash , the Truste e shall se le c t the Note s to be purc hase d on a pro rata basis. Holde rs o f Note s that are the
subje c t of an offe r to purc hase will re c e ive an Asse t Sale Offe r from the Company prior to any re late d purc hase date and
may e le c t to have suc h Note s purc hase d by c omple ting the form e ntitle d “Option of Holde r to Ele c t Purc hase ” on the
re ve rse of the Note s .

8. No tic e o f Redemptio n. Notic e of re de mption shall be maile d or de live re d at le ast 30 days but not
more than 60 days be fore the re de mption date to e ac h Ho lde r who s e No te s are to be re de e me d at its re g iste re d
a ddre s s. No te s in de nominations larg e r than U S$2,0 0 0 may be re de e me d in part but only in whole multiple s of
U S$1,0 0 0 in e xc e ss the re of, unle ss all of the Note s he ld by a Holde r are to be re de e me d. On and afte r the re de mption
date inte re st c e ase s to ac c rue on Note s or portions the re of c alle d for re de mption.

9 . Deno minatio ns, T ransfer, Exc hang e . The Note s are in re g iste re d form without c oupons in
de nominations of U S$2,0 0 0 and inte g ral multiple s of U S$1,0 0 0 in e xc e ss the re of. This N o te shall re pre se nt the
ag g re g ate princ ipal amount of outstanding Note s from time to time e ndorse d he re on and the ag g re g ate princ ipal amount
o f Note s re pre se nte d he re by may from time to time be re duc e d o r inc re ase d, as appropriate, to re e c t e xc hang e s and
re de mptions. The transfe r of Note s may be re g iste re d and Note s may be e xc hang e d as provide d in the Inde nture . The
Re g istrar and the Truste e may re quire a Holde r , among othe r thing s, to furnish appropriate e ndorse me nts and transfe r
doc ume nts and the Company may re quire a Holde r to pay any taxe s and fe e s re quire d by law o r pe rmitte d by the
Inde nture . The Company ne e d not e xc hang e o r re g iste r the transfe r of any No te o r portion of a No te se le c te d for
re de mption, e xc e pt for the unre de e me d portion of any No te be ing re de e me d in part. Also, the Co mpany ne e d not
e xc hang e or re g iste r the transfe r of any Note s for a pe riod of 15 days be fore a se le c tion of Note s to be re de e me d or
during the pe riod be twe e n a re c ord date and the c orre sponding Inte re st Payme nt Date .

10. Perso ns Deemed Owners . The re g iste re d Holde r of a Note shall be tre ate d as its owne r for all
purpose s.

1 1 . Amendment, Supplement and Waiver. Subje c t to c e rtain e xc e ptions, the Company and the
Truste e may ame nd o r supple me nt the Inde nture o r the Note s with the c onse nt of the Holde rs of a majority in princ ipal
amount of the the n outstanding Note s , inc luding Additional Note s , if any, voting as a sing le c lass ( inc luding c onse nts
obtaine d in c onne c tion with a purc hase of or te nde r offe r or e xc hang e offe r for the Note s ), and, subje c t to Se c tions 6.0 4
and 6.0 7 of the Inde nture , any e xisting De fault or Eve nt of De fault (e xc e pt a c ontinuing De fault or Eve nt of De fault in the
payme nt of princ ipal, pre mium, if any, inte re st on the Note s ) o r c omplianc e with any provision of the Inde nture o r the
Note s (e xc e pt for c e rtain c ove nants and provisions of the Inde nture whic h c annot be ame nde d without the c onse nt of
e ac h affe c te d Holde r (whe the r in the ag g re g ate holding a majority princ ipal amount of Note s or not) may be waive d with
the c onse nt of the Holde rs of a majority in princ ipal amount of the the n outstanding Note s , inc luding Additional Note s , if
any, the n outstanding voting as a sing le c lass (inc luding c onse nts obtaine d in c onne c tion with a purc hase of o r te nde r
offe r or e xc hang e offe r for the Note s ). Without the c onse nt of any Holde r , the Company and the Truste e may ame nd or
supple me nt the Inde nture o r the No te s to c ure any ambig uity, omission, de fe c t o r inc onsiste nc y, to provide for the
assumption by a Surviving Pe rson of the oblig ations of the Company unde r the Inde nture , to provide for unc e rti c ate d
Note s in addition to or in plac e of c e rtific ate d Note s , to add additional Subsidiary Guarante e s with re spe c t

A-6
to the No te s o r re le as e Subsidiary Guarantors fro m Subsidiary Guarante e s pursuant to the Inde nture , to make any
c hang e that would provide any additional rig hts or be ne ts to the Holde rs o f Note s o r that doe s not adve rse ly affe c t the
le g al rig hts unde r the Inde nture of any suc h Holde r , to make any c hang e to c omply with any re quire me nt of the
Commission in orde r to e ffe c t o r maintain the quali c ation of the Inde nture unde r the T I A o r othe r applic able trust
inde nture le g islation, to provide for the issuanc e of Additional Note s or to c onform the te xt of the Inde nture o r this Note
to any provision of the “De sc ription of Note s ” se c tion of the Offe ring Me morandum to the e xte nt that suc h provision is
inte nde d to be a substantially ve rbatim re c itation of a provision in the Inde nture or this Note .

12. Defaults and Remedies . Eac h of the following is an Eve nt of De fault unde r the Inde nture : (i)
failure to make the payme nt of any inte re st (inc luding Additional Amounts) on the Note s whe n the same be c ome s due and
payable, and suc h failure c ontinue s for a pe riod of 30 days; (ii) failure to make the payme nt of any princ ipal of, or
pre mium, if any, on, any of the Note s whe n the same be c ome s due and payable at its State d Maturity , upon ac c e le ration,
re de mption, optional re de mption, re quire d re purc hase o r othe rwise ; (iii) failure to c omply with the provisions of Se c tion
5.0 1 of the Inde nture and suc h failure c ontinue s for a pe riod of 30 days; (iv) failure to make a Chang e of Control Offe r
pursuant to Se c tion 4.16 of the Inde nture ; (v) failure to make an Asse t Sale O ffe r pursuant to Se c tion 4.12 of the
Inde nture and suc h failure c ontinue s for 30 days afte r writte n notic e is g ive n to the Company a s provide d be low; (vi)
failure to c omply with the provisions of Se c tion 4.0 3 of the Inde nture and suc h failure c ontinue s for a pe riod of 120 days
afte r writte n notic e is g ive n to the Co mpany a s pro vide d be low; (vii) failure to c omply with any othe r c ove nant or
ag re e me nt in the Note s or in the Inde nture (othe r than a failure that is the subje c t of the fore g oing c lause (i), (ii), (iii), (iv),
(v), (vi) o r (vii)) and suc h failure c ontinue s for 60 days afte r writte n notic e is g ive n to the Company a s provide d be low;
(viii) a de fault unde r any D e bt for mone y borrowe d by the Co mpany o r a ny Re stric te d Subsidiary that re sults in
ac c e le ration of the maturity of suc h De bt , o r failure to pay any suc h De bt at maturity, in an ag g re g ate amount g re ate r
than $75.0 million or its fore ig n c urre nc y e quivale nt at the time and suc h ac c e le ration has not be e n re sc inde d o r annulle d
within te n Busine ss Days afte r the date of suc h ac c e le ration; (ix) any judg me nt or judg me nts for the payme nt of mone y in
an ag g re g ate amount in e xc e ss of $75.0 million (o r its fore ig n c urre nc y e quivale nt at the time ) that shall be re nde re d
ag ainst the Company o r any Re stric te d Subsidiary and that shall not be waive d, satis e d (ne t of any amounts that are
re duc e d by insuranc e or bonde d) or disc harg e d for any pe riod of 60 c onse c utive days during whic h a stay of e nforc e me nt
shall not be in e ffe c t; (x) c e rtain e ve nts of bankruptc y, insolve nc y or re org aniz ation affe c ting the Company o r any of its
Sig ni c ant Subsidiarie s de sc ribe d in Se c tion 6.0 1(a)(x) and 6.0 1(a)(xi) of the Inde nture ; and (xi) any Subsidiary
Guarante e of one or more Subsidiary Guarantors , whic h by the mse lve s o r take n tog e the r would c onstitute a Sig nific ant
Subsidiary , c e ase s to be in full forc e and e ffe c t (othe r than in ac c ordanc e with the te rms of suc h Subsidiary Guarante e or
the Inde nture ) o r a ny Subsidiary Guarantor of one o r m o re Subsidiary Guarantors , whic h by the mse lve s o r take n
tog e the r would c onstitute a Sig nific ant Subsidiary , de nie s or disaffirms its oblig ations unde r its Subsidiary Guarante e .

If any Eve nt of De fault oc c urs and is c ontinuing , the Truste e o r the Holde rs of at le ast 25% in princ ipal
amount of the the n outstanding Note s may de c lare the princ ipal of all the Note s , tog e the r with all ac c rue d and unpaid
inte re st, pre mium, if any, to be due and payable. Notwithstanding the fore g oing , in the c ase of an Eve nt of De fault arising
from c e rtain e ve nts of bankruptc y or insolve nc y de sc ribe d in the Inde nture , all outstanding Note s shall be c ome due and
payable without furthe r ac tion or notic e. Holde rs may not e nforc e the Inde nture o r the Note s e xc e pt as provide d in the
Inde nture . Subje c t to c e rtain limitations, Holde rs of a majority in ag g re g ate princ ipal amount of the the n outstanding
Note s may dire c t the Truste e in its e xe rc ise of any trust or powe r. The Truste e may withhold from Holde rs notic e of any
c ontinuing De fault o r Eve nt of De fault (e xc e pt a De fault o r Eve nt of De fault re lating to the payme nt of princ ipal or
inte re st) if it de te rmine s that withholding notic e is in the ir inte re st. The Holde rs of a majority in ag g re g ate princ ipal
amount of the Note s the n outstanding by notic e to the Truste e may on be half of the Holde rs of all of the Note s waive any
e xisting De fault or Eve nt of De fault and its

A-7
c onse que nc e s unde r the Inde nture e xc e pt a c ontinuing De fault o r Eve nt of De fault in the payme nt of inte re st o r the
princ ipal of, the Note s . The Company is re quire d to de live r to the Truste e annually a state me nt re g arding c omplianc e
with the Inde nture , and subje c t to the proviso c ontaine d in Se c tion 4.0 4(c ) of the Inde nture the Company is re quire d upon
be c oming aware of any De fault o r Eve nt of De fault , to de live r to the Trus te e a state me nt spe c ifying suc h De fault or
Eve nt of De fault .

13. T rustee Dealing s with Co mpany . Subje c t to c e rtain limitations, the Truste e in its individual or
any othe r c apac ity may be c ome the owne r or ple dg e e of Note s and may othe rwise de al with the Company or any Affiliate
of the Company with the same rig hts it would have if it we re not Truste e .

1 4 . No Rec o urse Ag ainst Others . No past, pre se nt o r future dire c tor, of c e r, e mploye e,
inc orporator o r stoc kholde r of the Company o r of any Subsidiary Guarantor , as suc h, shall have any liability for any
oblig ations of the Company or any Subsidiary Guarantor unde r the Inde nture , the Note s , the Subsidiary Guarante e s or
for any c laim base d on, in re spe c t of, o r by re ason of, suc h oblig ations o r the ir c re ation. Eac h Holde r by ac c e pting a
Note waive s and re le ase s all suc h liability.

15. Authentic atio n. This Note shall not be valid until authe ntic ate d by the manual sig nature of the
Truste e or an authe ntic ating ag e nt.

16. Abbreviatio ns. Customary abbre viations may be use d in the name of a Holde r o r an assig ne e,
suc h as: TEN COM (= te nants in c ommon), TEN ENT (= te nants by the e ntire tie s), JT TEN (= joint te nants with rig ht of
survivorship and not as te nants in c ommon), CU ST (= Custodian ), and U /G/M/A (= U niform Gifts to Minors Ac t).

17. CUSIP Numbers. Pursuant to a re c omme ndation promulg ate d by the Committe e on U niform
Se c urity Ide ntific ation Proc e dure s, the Company has c ause d CU SIP numbe rs to be printe d on the Note s and has dire c te d
the Truste e to use CU SIP numbe rs in notic e s of re de mption as a c onve nie nc e to Holde rs . No re pre se ntation is made as
to the ac c urac y of suc h numbe rs e ithe r as printe d on the Note s or as c ontaine d in any notic e of re de mption and re lianc e
may be plac e d only on the othe r ide ntific ation numbe rs plac e d the re on.

T h e Co mpany shall furnish to any Ho lde r upon writte n re que st and without c harg e a c opy of the
Inde nture . Re que sts may be made to:

Casc ade s Inc .

40 4 Marie -Vic torin Blvd.
P.O. Box 30
King se y Falls, Qué be c
Canada J0 A 1B0
Atte ntion: Chie f Financ ial Offic e r

18. Go verning Law. The inte rnal law of the State of Ne w York shall g ove rn and be use d to c onstrue
this Note without g iving e ffe c t to applic able princ ipals of c on ic ts of law to the e xte nt that the applic ation of the laws of
anothe r jurisdic tion would be re quire d the re by.

A-8
 Option of Holde r to Ele c t Purc hase

If you want to e le c t to have this Note purc hase d by the Company pursuant to Se c tion 4.12 or 4.16 of the Inde nture , c he c k
the box be low:

☐ Se c tion 4.12

☐ Se c tion 4.16

If you want to e le c t to have only part of the Note purc hase d by the Company pursuant to Se c tion 4.12 o r Se c tion 4.16 of
the Inde nture , state the amount you e le c t to have purc hase d: $__________________.

Date : Your Sig nature :

(Sig n e xac tly as your name appe ars on the Note )

Tax Ide ntific ation

No.:

SIGNATU RE GU ARANTEE :

Sig nature s must be g uarante e d by an “e lig ible g uarantor institution”

me e ting the re quire me nts of the Re g istrar , whic h re quire me nts inc lude
me mbe rship or partic ipation in the Se c urity Transfe r Ag e nt Me dallion
Prog ram (“STAMP”) or suc h othe r “sig nature g uarante e prog ram” as
may be de te rmine d by the Re g istrar in addition to, or in substitution for,
STAMP, all in ac c ordanc e with the Se c uritie s Exc hang e Ac t of 1934, as
ame nde d.

A-9
 Assig nment Fo rm

To assig n this Note , fill in the form be low:

(I) or (we ) assig n and transfe r this Note to

(Inse rt assig ne e ’s soc ial se c urity or othe r tax I.D. no.)

(Print or type assig ne e ’s name , addre ss and z ip c ode )

and irre voc ably appoint ______________________________________________________________________ as ag e nt to

transfe r this Note on the books of the Company. The ag e nt may substitute anothe r to ac t for him.

Date : _____________________

Your Sig nature :

(Sig n e xac tly as your name appe ars on the Note )

Sig nature Guarante e :

A-10
 SCHEDU LE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

The following e xc hang e s of a part of this Global Note for an inte re st in anothe r Global Note o r for a
De nitive Note , o r e xc hang e s of a part of anothe r Global Note o r De nitive Note for an inte re st in this Global Note,
have be e n made :

Prin c ip al Am o u n t S ig n atu re o f
Am o u n t o f Am o u n t o f o f th is Glo b al No te au th o riz e d
d e c re as e in in c re as e in fo llo win g s u c h s ig n ato ry o f
Prin c ip al Am o u n t Prin c ip al Am o u n t d e c re as e ( o r Tru s te e o r No te
Date o f Exc h an g e o f th is Glo b al No te o f th is Glo b al No te in c re as e ) C u s to d ian

A-11
 EXHIBIT B

FORM OF CERT IFICAT E OF T RANSFER

Casc ade s Inc .

40 4 Marie -Vic torin Blvd.
P.O. Box 30
King se y Falls, Qué be c
Canada J0 A 1B0
Atte ntion: Chie f Financ ial Offic e r

We lls Farg o Bank, National Assoc iation – DAPS Re org

6th & Marque tte Ave nue – 12th Floor
Minne apolis, MN 55479
MAC N930 3-121
Te le phone : 1-80 0 -344-5128
Fac simile : 1-866-969-1290
Email: DAPSRe org @we llsfarg o.c om

Re : 5.75% Se nior Note s due 20 23

Re fe re nc e is he re by made to the Inde nture , date d as of May 19, 20 15 (the “Indenture”), among
Casc ade s Inc ., as issue r (the “Company”), the Guarantors party the re to and We lls Farg o Bank, National Assoc iation, as
truste e . Capitaliz e d te rms use d but not de fine d he re in shall have the me aning s g ive n to the m in the Inde nture .

___________________ (the “Transferor”) owns and propose s to transfe r the Note [s ] o r inte re st in suc h
Note [s] spe c i e d in Anne x A he re to, in the princ ipal amount of $___________ in suc h Note [ s ] o r inte re sts (the
“Transfer”), to ___________________________ (the “Transferee”), as furthe r spe c ifie d in Anne x A he re to. In c onne c tion
with the Transfe r, the Transfe ror he re by c e rtifie s that:

[CHECK ALL T HAT AP P LY]

1. ☐ Che c k if Transfe re e will take de live ry of a be ne c ial inte re st in the 144A Global Note o r a
De nitive Note Pursuant to Rule 144A. The Transfe r is be ing e ffe c te d pursuant to and in ac c ordanc e with Rule 144A
unde r the U nite d State s Se c uritie s Ac t of 1933, as ame nde d (the “Securities Act”), and, ac c ording ly, the Transfe ror
he re by furthe r c e rti e s that the be ne c ial inte re st in the Global Note o r De nitive Note is be ing transfe rre d to a Pe rson
that the Transfe ror re asonably be lie ve d and be lie ve s is purc hasing the be ne c ial inte re st in the Global Note o r De finitive
Note for its own ac c ount, o r for one o r more ac c ounts with re spe c t to whic h suc h P e rs on e xe rc ise s sole inve stme nt
disc re tion, and suc h Pe rson and e ac h suc h ac c ount is a “qualifie d institutional buye r” within the me aning of Rule 144A in a
transac tion me e ting the re quire me nts of Rule 144A and suc h Trans fe r is in c omplianc e with any applic able blue sky
se c uritie s laws of any state of the U nite d State s and applic able se c uritie s laws of any othe r applic able jurisdic tion. U pon
c onsummation of the propose d Transfe r in ac c ordanc e with the te rms of the Inde nture , the transfe rre d be ne c ial inte re st
in the Global Note o r De nitive Note will be subje c t to the re stric tions on transfe r e nume rate d in the Private Plac e me nt
Le g e nd printe d on the 144A Global Note and/or the De finitive Note and in the Inde nture and the Se c uritie s Ac t .

B-1
 2 . ☐ Che c k if Transfe re e will take de live ry of a be ne c ial inte re st in the Re g ulation S Global
Note o r a De nitive Note pursuant to Re g ulation S. The Transfe r is be ing e ffe c te d pursuant to and in ac c ordanc e with
Rule 90 3 o r Rule 90 4 unde r the Se c uritie s Ac t and, ac c ording ly, the Trans fe ror he re by furthe r c e rti e s that (i) the
Trans fe r is not be ing made to a P e rs on in the U nite d State s and (x) at the time the buy orde r was orig inate d, the
Transfe re e was outside the U nite d State s or suc h Transfe ror and any Pe rson ac ting on its be half re asonably be lie ve d and
be lie ve s that the Transfe re e was outside the U nite d State s o r (y) the transac tion was e xe c ute d in, on o r throug h the
fac ilitie s of a de sig nate d offshore se c uritie s marke t and ne ithe r suc h Transfe ror nor any Pe rson ac ting on its be half knows
that the transac tion was pre arrang e d with a buye r in the U nite d State s, (ii) no dire c te d se lling e fforts have be e n made in
c ontrave ntion of the re quire me nts of Rule 90 3 ( b) o r Rule 90 4 (a) of Re g ulation S unde r the Se c uritie s Ac t , (iii) the
transac tion is not part of a plan o r sc he me to e vade the re g istration re quire me nts of the Se c uritie s Ac t and (iv) if the
propose d transfe r is be ing made prior to the e xpiration of the Distribution Complianc e Pe riod , the transfe r is not be ing
made to a U.S. Pe rson o r for the ac c ount o r be ne t of a U.S. Pe rson (othe r than an initial purc hase r). U pon
c onsummation of the propose d transfe r in ac c ordanc e with the te rms of the Inde nture , the transfe rre d be ne c ial inte re st
or De nitive Note will be subje c t to the re stric tions on Transfe r e nume rate d in the Private Plac e me nt Le g e nd printe d on
the Re g ulation S Global Note and/or the De finitive Note and in the Inde nture and the Se c uritie s Ac t .

3. ☐ Che c k and c omple te if Transfe re e will take de live ry of a be ne c ial inte re st in the De finitive
No te pursuant to any provision of the Se c uritie s Ac t othe r than Rule 144A o r Re g ulation S. The Trans fe r is be ing
e ffe c te d in c omplianc e with the transfe r re stric tions applic able to be ne c ial inte re sts in Re stric te d Global Note s and
Re stric te d De nitive Note s and pursuant to and in ac c ordanc e with the Se c uritie s Ac t and any applic able blue sky
se c uritie s laws of any state of the U nite d State s and the se c uritie s laws of any othe r applic able jurisdic tion, and
ac c ording ly the Transfe ror he re by furthe r c e rtifie s that (c he c k one ):

(a) ☐ suc h Transfe r is be ing e ffe c te d pursuant to and in ac c ordanc e with Rule 144 unde r the
Se c uritie s Ac t ;

or

(b) ☐ suc h Transfe r is be ing e ffe c te d to the Company or a subsidiary the re of;

or

(c) ☐ suc h Transfe r is be ing e ffe c te d pursuant to an e ffe c tive re g istration state me nt unde r the
Se c uritie s Ac t and in c omplianc e with the prospe c tus de live ry re quire me nts of the Se c uritie s Ac t ;

4 . ☐ Che c k if Transfe re e will take de live ry of a be ne c ial inte re st in an U nre stric te d Global
Note or of an U nre stric te d De finitive Note .

(a) ☐ Chec k if T ransfer is pursuant to Rule 14 4 . (i) The Transfe r is be ing e ffe c te d pursuant to
and in ac c ordanc e with Rule 144 unde r the Se c uritie s Ac t and in c omplianc e with the transfe r re stric tions c ontaine d in the
Inde nture and any applic able blue sky se c uritie s laws of any state of the U nite d State s and the se c uritie s laws of any othe r
applic able jurisdic tion and (ii) the re stric tions on transfe r c ontaine d in the Inde nture and the Private Plac e me nt Le g e nd are
not re quire d in orde r to maintain c omplianc e with the Se c uritie s Ac t . U pon c onsummation of the propose d Transfe r in
ac c ordanc e with the te rms of the Inde nture , the transfe rre d be ne c ial inte re st or De nitive Note will no long e r be subje c t
to the re stric tions on transfe r e nume rate d in the Private Plac e me nt Le g e nd printe d on the Re stric te d Global Note s , on
Re stric te d De finitive Note s and in the Inde nture .

B-2
 ( b ) ☐ Chec k if T ransfer is P ursuant to Reg ulatio n S . (i) The Trans fe r is be ing e ffe c te d
pursuant to and in ac c ordanc e with Rule 90 3 o r Rule 90 4 unde r the Se c uritie s Ac t and in c omplianc e with the transfe r
re stric tions c ontaine d in the Inde nture and any applic able blue sky se c uritie s laws of any state of the U nite d State s and the
se c uritie s laws of any othe r applic able jurisdic tion and (ii) the re stric tions on transfe r c ontaine d in the Inde nture and the
Private Plac e me nt Le g e nd are not re quire d in orde r to maintain c omplianc e with the Se c uritie s Ac t . U pon
c onsummation of the propose d Transfe r in ac c ordanc e with the te rms of the Inde nture , the transfe rre d be ne c ial inte re st
o r De nitive Note will no long e r be subje c t to the re stric tions on transfe r e nume rate d in the Private Plac e me nt Le g e nd
printe d on the Re stric te d Global Note s , on Re stric te d De finitive Note s and in the Inde nture .

(c) ☐ Chec k if T ransfer is P ursuant to Other Exemptio n. (i) The Transfe r is be ing e ffe c te d
pursuant to and in c omplianc e with an e xe mption from the re g istration re quire me nts of the Se c uritie s Ac t othe r than Rule
144 , Rule 90 3 or Rule 90 4 and in c omplianc e with the transfe r re stric tions c ontaine d in the Inde nture and any applic able
blue sky se c uritie s laws of any State of the U nite d State s and the se c uritie s laws of any othe r applic able jurisdic tion and (ii)
the re stric tions on transfe r c ontaine d in the Inde nture and the Private Plac e me nt Le g e nd are not re quire d in orde r to
maintain c omplianc e with the Se c uritie s Ac t . U pon c onsummation of the propose d Trans fe r in ac c ordanc e with the
te rms of the Inde nture , the transfe rre d be ne c ial inte re st o r De nitive Note will not be subje c t to the re stric tions on
transfe r e nume rate d in the Private Plac e me nt Le g e nd printe d on the Re stric te d Global Note s o r Re stric te d De nitive
Note s and in the Inde nture .

This c e rti c ate and the state me nts c ontaine d he re in are made for your be ne t and the be ne t of the
Company .

[Inse rt Name of Transfe ror ]

By:
Name :
Title :

Date d: ______________________

B-3
 ANNEX A TO CERTIFICATE OF TRANSFER

1. The Transfe ror owns and propose s to transfe r the following :

[CHECK ONE OF (a) OR (b)]

(a) ☐ a be ne fic ial inte re st in the :

(i) ☐ 144A Global Note (CU SIP _________), or

(ii) ☐ Re g ulation S Global Note (CU SIP _________); or

(b) ☐ a Re stric te d De finitive Note .

2. Afte r the Transfe r the Transfe re e will hold:

[CHECK ONE OF (a) OR (b) OR (c )]

(a) ☐ a be ne fic ial inte re st in the :

(i) ☐ 144A Global Note (CU SIP _________), or

(ii) ☐ Re g ulation S Global Note (CU SIP _________), or

(iii) ☐ U nre stric te d Global Note (CU SIP _________); or

(b) ☐ a Re stric te d De finitive Note ; or

(c ) ☐ an U nre stric te d De finitive Note ,

in ac c ordanc e with the te rms of the Inde nture .

B-4
 EXHIBIT C

FORM OF CERT IFICAT E OF EXCHANGE

Casc ade s Inc .

40 4 Marie -Vic torin Blvd.
P.O. Box 30
King se y Falls, Qué be c
Canada J0 A 1B0
Atte ntion: Chie f Financ ial Offic e r

We lls Farg o Bank, National Assoc iation – DAPS Re org

6th & Marque tte Ave nue – 12th Floor
Minne apolis, MN 55479
MAC N930 3-121
Te le phone : 1-80 0 -344-5128
Fac simile : 1-866-969-1290
Email: DAPSRe org @we llsfarg o.c om

Re : 5.75% Se nior Note s due 20 23

Re fe re nc e is he re by made to the Inde nture , date d as of May 19, 20 15 (the “Indenture”), among
Casc ade s Inc ., as issue r (the “Company”), the Guarantors party the re to and We lls Farg o Bank, National Assoc iation, as
truste e . Capitaliz e d te rms use d but not de fine d he re in shall have the me aning s g ive n to the m in the Inde nture .

__________________________ (the “Owner”) owns and propose s to e xc hang e the Note [s] or inte re st in
s u c h Note [s] spe c i e d he re in, in the princ ipal amount of $____________ in suc h Note [ s ] o r inte re sts (the
“Exchange”). In c onne c tion with the Exc hang e , the Owne r he re by c e rtifie s that:

1. Exc hang e of Re stric te d De nitive Note s or Be ne c ial Inte re sts in a Re stric te d Global Note for
U nre stric te d De finitive Note s or Be ne fic ial Inte re sts in an U nre stric te d Global Note

(a) ☐ Chec k if Exc hang e is fro m bene c ial interest in a Restric ted Glo bal No te to bene c ial
interest in an Unrestric ted Glo bal No te. In c onne c tion with the Exc hang e of the Owne r ’s be ne c ial inte re st in a
Re stric te d Global Note for a be ne c ial inte re st in an U nre stric te d Global Note in an e qual princ ipal amount, the Owne r
he re by c e rti e s (i) the be ne c ial inte re st is be ing ac quire d for the Owne r ’s own ac c ount without transfe r, (ii) suc h
Exc hang e has be e n e ffe c te d in c omplianc e with the transfe r re stric tions applic able to the Re stric te d Global Note and
pursuant to and in ac c ordanc e with the U nite d State s Se c uritie s Ac t of 1933, as ame nde d (the “Securities Act”), (iii) the
re stric tions on transfe r c ontaine d in the Inde nture and the Private Plac e me nt Le g e nd are not re quire d in orde r to maintain
c omplianc e with the Se c uritie s Ac t and (iv) the be ne c ial inte re st in an U nre stric te d Global Note is be ing ac quire d in
c omplianc e with any applic able blue sky se c uritie s laws of any state of the U nite d State s.

(b) ☐ Chec k if Exc hang e is fro m bene c ial interest in a Restric ted Glo bal No te to Unrestric ted
Definitive No te . In c onne c tion with the Exc hang e of the Owne r ’s be ne c ial inte re st in a Re stric te d Global Note for an
U nre stric te d De nitive Note , the O wne r he re by c e rti e s (i) the U nre stric te d De nitive Note is be ing ac quire d for the
Owne r ’s own ac c ount without transfe r, (ii) suc h Exc hang e has be e n e ffe c te d in c omplianc e with the transfe r re stric tions
applic able to the Re stric te d
Global Note and pursuant to and in ac c ordanc e with the Se c uritie s Ac t , (iii) the re stric tions on transfe r c ontaine d in the
Inde nture and the Private Plac e me nt Le g e nd are not re quire d in orde r to maintain c omplianc e with the Se c uritie s Ac t and
(iv) the U nre stric te d De nitive Note is be ing ac quire d in c omplianc e with any applic able blue sky se c uritie s laws of any
state of the U nite d State s.

( c ) ☐ Chec k if Exc hang e is fro m Restric ted De nitive No te to bene c ial interest in an
Unrestric ted Glo bal No te. In c onne c tion with the Owne r ’s Exc hang e of a Re stric te d De nitive Note for a be ne c ial
inte re st in an U nre stric te d Global Note, the O wne r he re by c e rti e s (i) the be ne c ial inte re st is be ing ac quire d for the
Owne r ’s own ac c ount without transfe r, (ii) suc h Exc hang e has be e n e ffe c te d in c omplianc e with the transfe r re stric tions
applic able to Re stric te d De nitive Note s and pursuant to and in ac c ordanc e with the Se c uritie s Ac t , (iii) the re stric tions
on transfe r c ontaine d in the Inde nture and the Private Plac e me nt Le g e nd are not re quire d in orde r to maintain c omplianc e
with the Se c uritie s Ac t and (iv) the be ne c ial inte re st is be ing ac quire d in c omplianc e with any applic able blue sky
se c uritie s laws of any state of the U nite d State s.

(d) ☐ Chec k if Exc hang e is fro m Restric ted Definitive No te to Unrestric ted Definitive No te . In
c onne c tion with the Owne r ’s Exc hang e of a Re stric te d De nitive Note for an U nre stric te d De nitive Note , the Owne r
he re by c e rti e s (i) the U nre stric te d De nitive Note is be ing ac quire d for the Owne r ’s own ac c ount without transfe r, (ii)
suc h Exc hang e has be e n e ffe c te d in c omplianc e with the transfe r re stric tions applic able to Re stric te d De finitive Note s and
pursuant to and in ac c ordanc e with the Se c uritie s Ac t , (iii) the re stric tions on transfe r c ontaine d in the Inde nture and the
Private Plac e me nt Le g e nd are not re quire d in orde r to maintain c omplianc e with the Se c uritie s Ac t and (iv) the
U nre stric te d De nitive Note is be ing ac quire d in c omplianc e with any applic able blue sky se c uritie s laws of any state of
the U nite d State s.

2. Exc hang e of Re stric te d De nitive Note s or Be ne c ial Inte re sts in Re stric te d Global Note s for
Re stric te d De finitive Note s or Be ne fic ial Inte re sts in Re stric te d Global Note s

(a) ☐ Chec k if Exc hang e is fro m bene c ial interest in a Restric ted Glo bal No te to Restric ted
De nitive No te . In c onne c tion with the Exc hang e of the Owne r ’s be ne c ial inte re st in a Re stric te d Global Note for a
Re stric te d De finitive Note with an e qual princ ipal amount, the Owne r he re by c e rtifie s that the Re stric te d De finitive Note is
be ing ac quire d for the Owne r ’s own ac c ount without transfe r. U pon c onsummation of the propose d Exc hang e in
ac c ordanc e with the te rms of the Inde nture , the Re stric te d De nitive Note issue d will c ontinue to be subje c t to the
re stric tions on transfe r e nume rate d in the Private Plac e me nt Le g e nd printe d on the Re stric te d De nitive Note and in the
Inde nture and the Se c uritie s Ac t .

( b ) ☐ Chec k if Exc hang e is fro m Restric ted De nitive No te to bene c ial interest in a
Restric ted Glo bal No te . In c onne c tion with the Exc hang e of the Owne r ’ s Re stric te d De nitive Note for a be ne c ial
inte re st in the [CIRCLE ONE] 144A Global Note , Re g ulation S Global Note , with an e qual princ ipal amount, the Owne r
he re by c e rti e s (i) the be ne c ial inte re st is be ing ac quire d for the Owne r ’s own ac c ount without transfe r and (ii) suc h
Exc hang e has be e n e ffe c te d in c omplianc e with the transfe r re stric tions applic able to the Re stric te d De nitive Note and
pursuant to and in ac c ordanc e with the Se c uritie s Ac t , and in c omplianc e with any applic able blue sky se c uritie s laws of
any state of the U nite d State s. U pon c onsummation of the propose d Exc hang e in ac c ordanc e with the te rms of the
Inde nture , the be ne c ial inte re st issue d will be subje c t to the re stric tions on transfe r e nume rate d in the Private Plac e me nt
Le g e nd printe d on the re le vant Re stric te d Global Note and in the Inde nture and the Se c uritie s Ac t .

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 This c e rti c ate and the state me nts c ontaine d he re in are made for your be ne t and the be ne t of the
Company .

[Inse rt Name of Transfe ror ]

By:
Name :
Title :

Date d: ______________________

C-3
 EXHIBIT D

FORM OF SUP P LEMENT AL INDENT URE FOR ADDIT IONAL SUBSIDIARY GUARANT ORS

SU P P LEMENTAL INDENTU RE (this “Supple me ntal Inde nture ”), date d as of [__________], 20 [ ], among
[_________] (the “Guarante e ing Subsidiary”), Casc ade s Inc ., a c orporation org aniz e d unde r the laws of the Provinc e of
Que be c , Canada (the “Company”), and We lls Farg o Bank, National Assoc iation, as Truste e unde r the Inde nture re fe rre d
to be low.

W I T N E S S E T H:

WHEREAS, e ac h of the Company , the Subsidiary Guarantors and the Trus te e have he re tofore e xe c ute d and
de live re d an inde nture date d as of May 19, 20 15 (as ame nde d, supple me nte d, waive d o r othe rwise modi e d, the
“Inde nture ”), providing for the issuanc e of its 5.75% Se nior Note s due 20 23 (the “Note s”);

WHEREAS, the Inde nture provide s that unde r c e rtain c irc umstanc e s the Guarante e ing Subsidiary shall e xe c ute
and de live r to the Truste e a supple me ntal inde nture to whic h the Guarante e ing Subsidiary shall unc onditionally g uarante e,
on a joint and se ve ral basis with the othe r Subsidiary Guarantors , all of the Company ’s Oblig ations unde r the Note s and
the Inde nture on the te rms and c onditions se t forth he re in and unde r the Inde nture (the “Guarante e ”); and

WHEREAS, pursuant to Se c tion 9.0 1 of the Inde nture , the Company and the Truste e are authoriz e d to e xe c ute
and de live r this Supple me ntal Inde nture to ame nd or supple me nt the Inde nture , without the c onse nt of any Holde r ;

NOW, THEREFORE, in c onside ration of the fore g oing and for othe r g ood and valuable c onside ration, the
re c e ipt of whic h is he re by ac knowle dg e d, the Guarante e ing Subsidiary , the Company and the Truste e mutually c ove nant
and ag re e for the e qual and ratable be ne fit of the Holde rs of the Note s as follows:

ARTICLE I

DEFINITIONS

SECTION 1.1. De fine d Te rms. As use d in this Supple me ntal Inde nture , te rms de ne d in the Inde nture o r in the
pre amble o r re c itals he re to are use d he re in as the re in de ne d. The words “he re in,” “he re of” and “he re by” and othe r
words of similar import use d in this Supple me ntal Inde nture re fe r to this Supple me ntal Inde nture as a whole and not to any
partic ular se c tion he re of.

ARTICLE II

AGREEMENT TO BE BOU ND; GU ARANTEE

SECTION 2.1. Ag re e me nt to be Bound. The Guarante e ing Subsidiary he re by be c ome s a party to the Inde nture
as a Subsidiary Guarantor and as suc h will have all of the rig hts and be subje c t to all of the oblig ations and ag re e me nts of a
Subsidiary Guarantor unde r the Inde nture .

SECTION 2.2. Subs idiary Guarante e . The Guarante e ing Subsidiary ag re e s to fully, unc onditionally and
irre voc ably Guarante e to e ac h Holde r of the Note s and the Truste e the Oblig ations pursuant to

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Artic le 10 of the Inde nture on a se nior basis and this Supple me ntal Inde nture shall c onstitute e vide nc e of the
Guarante e ing Subsidiary ’s Subsidiary Guarante e .

ARTICLE III

MISCELLANEOU S

SECTION 3.1. Notic e s. All notic e s and othe r c ommunic ations to the Guarante e ing Subsidiary shall be g ive n as
provide d in the Inde nture to the Guarante e ing Subsidiary , with a c opy to the Company a s provide d in the Inde nture for
notic e s to the Company .

SECTION 3.2. Partie s. Nothing e xpre sse d o r me ntione d he re in is inte nde d o r shall be c onstrue d to g ive any
Pe rson , firm or c orporation, othe r than the Holde rs and the Truste e , any le g al or e quitable rig ht, re me dy o r c laim unde r
or in re spe c t of this Supple me ntal Inde nture or the Inde nture or any provision he re in or the re in c ontaine d.

SECTION 3.3. Gove rning Law. This Supple me ntal Inde nture shall be g ove rne d by, and c onstrue d in
ac c ordanc e with, the laws of the State of Ne w York.

SECTION 3.4. Se ve rability. In c ase any provision in this Supple me ntal Inde nture shall be invalid, ille g al or
une nforc e able, the validity, le g ality and e nforc e ability of the re maining provisions shall not in any way be affe c te d or
impaire d the re by and suc h provision shall be ine ffe c tive only to the e xte nt of suc h invalidity, ille g ality or une nforc e ability.

SECTION 3.5. Be ne fits Ac knowle dg e d. The Guarante e ing Subsidiary ’s Guarante e is subje c t to the te rms and
c onditions se t forth in the Inde nture . The Guarante e ing Subsidiary ac knowle dg e s that it will re c e ive dire c t and indire c t
be ne ts from the nanc ing arrang e me nts c onte mplate d by the Inde nture and that the g uarante e and waive rs made by it
pursuant to this Guarante e are knowing ly made in c onte mplation of suc h be ne fits.

SECTION 3.6. Rati c ation of Inde nture ; Supple me ntal Inde nture s Part of Inde nture . Exc e pt as e xpre ssly
ame nde d he re by, the Inde nture is in all re spe c ts rati e d and c on rme d and all the te rms, c onditions and provisions the re of
shall re main in full forc e and e ffe c t. This Supple me ntal Inde nture shall form a part of the Inde nture for all purpose s, and
e ve ry Holde r of Note s he re tofore or he re afte r authe ntic ate d and de live re d shall be bound he re by.

SECTION 3.7. The Truste e . The Truste e make s no re pre se ntation or warranty as to the validity o r suffic ie nc y
of this Supple me ntal Inde nture or with re spe c t to the re c itals c ontaine d he re in, all of whic h re c itals are made sole ly by the
othe r partie s he re to.

SECTION 3.8. Counte rparts. The partie s he re to may sig n any numbe r of c opie s of this Supple me ntal Inde nture
. Eac h sig ne d c opy shall be an orig inal, but all of the m tog e the r re pre se nt the same ag re e me nt. The e xc hang e of c opie s
of this Supple me ntal Inde nture and of sig nature pag e s by fac simile o r PDF transmission shall c onstitute e ffe c tive
e xe c ution and de live ry of this Supple me ntal Inde nture as to the partie s he re to and may be use d in lie u of the orig inal
Supple me ntal Inde nture for all purpose s. Sig nature s of the partie s he re to transmitte d by fac simile o r PDF shall be
de e me d to be the ir orig inal sig nature s for all purpose s.

SECTION 3.9. Exe c ution and De live ry. The Guarante e ing Subsidiary ag re e s that the Guarante e shall re main in
full forc e and e ffe c t notwithstanding any failure to e ndorse on e ac h Note a notation of any suc h Guarante e .

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 SECTION 3.10 . He ading s. The he ading s of the Artic le s and the Se c tions in this Supple me ntal Inde nture are for
c onve nie nc e of re fe re nc e only and shall not be de e me d to alte r or affe c t the me aning o r inte rpre tation of any provisions
he re of.

[The remainder of this page is intentionally left blank.]

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 IN WITNESS WHEREOF, the partie s he re to have c ause d this Supple me ntal Inde nture to be duly e xe c ute d as of
the date first above writte n.

CASCADES INC.

By:
Name :
Title :

[GUARANT EEING SUBSIDIARY ],

as the Guarante e ing Subsidiary

By:
Name :
Title :

WELLS FARGO BANK, NAT IONAL ASSOCIAT ION,

as Truste e

By:
Name :
Title :

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En d o f Do c u m e n t