<SEC-DOCUMENT>0001140361-25-045035.txt : 20251209
<SEC-HEADER>0001140361-25-045035.hdr.sgml : 20251209
<ACCEPTANCE-DATETIME>20251209165435
ACCESSION NUMBER:		0001140361-25-045035
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		21
CONFORMED PERIOD OF REPORT:	20251209
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20251209
DATE AS OF CHANGE:		20251209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERCADOLIBRE INC
		CENTRAL INDEX KEY:			0001099590
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				980212790
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33647
		FILM NUMBER:		251559764

	BUSINESS ADDRESS:	
		STREET 1:		DR. LUIS BONAVITA 1294 OF. 1733 TOWER II
		CITY:			MONTEVIDEO
		STATE:			X3
		ZIP:			11300
		BUSINESS PHONE:		598-2-2927-2770

	MAIL ADDRESS:	
		STREET 1:		DR. LUIS BONAVITA 1294 OF. 1733 TOWER II
		CITY:			MONTEVIDEO
		STATE:			X3
		ZIP:			11300

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MERCADOLIBRE INC.
		DATE OF NAME CHANGE:	20211028

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MERCADOLIBRE INC
		DATE OF NAME CHANGE:	19991123
</SEC-HEADER>
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  <div><span style="font-size: 10pt;"> </span></div>

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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">UNITED STATES</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> <br/>
    </div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">
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<div>FORM <ix:nonNumeric name="dei:DocumentType" id="Fact_36c16371203444368f170412bda10398" contextRef="c20251209to20251209">8-K</ix:nonNumeric></div>

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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CURRENT REPORT</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</div>

    <div style="font-size: 10pt;"><br/>
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    <div> <span style="font-size: 10pt;"><br/>
      </span></div>

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  <tr>

    <td style="width: 49%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">(State or other jurisdiction of incorporation )</div>
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    <td colspan="1" style="width: 2%; vertical-align: top; font-size: 10pt; white-space: nowrap;">&#160;</td>

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            <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">(I.R.S. Employer Identification Number)</div>
          </td>

  </tr>


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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">WTC Free Zone</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><ix:nonNumeric name="dei:EntityAddressAddressLine1" id="Fact_78e758fefa384c14ad4a12e073601f7b" contextRef="c20251209to20251209">Dr. Luis Bonavita 1294, Of. 1733, Tower II</ix:nonNumeric><br/>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(Address of registrant&#8217;s principal executive offices) (Zip Code)</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="-sec-ix-hidden:Fact_dde86212fe2147b59202bda72c76a29d">+598</span>) <ix:nonNumeric name="dei:LocalPhoneNumber" id="Fact_a9a8f54b6b9943308f48f30f733fade2" contextRef="c20251209to20251209">2-927-2770</ix:nonNumeric></div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(Registrant&#8217;s telephone number, including area code)</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(Former name or former address, if changed since last report)</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;"> <span style="font-size: 10pt;"><br/>
      </span></div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 12pt;">
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    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>

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    <td colspan="3" style="width: 98.3%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
          </td>

  </tr>

  <tr>

    <td colspan="3" style="width: 1.7%; vertical-align: top; font-size: 10pt;">
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    <td colspan="3" style="width: 98.3%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
          </td>

  </tr>

  <tr>

    <td colspan="3" style="width: 1.7%; vertical-align: top; font-size: 10pt;"><ix:nonNumeric name="dei:PreCommencementTenderOffer" id="Fact_865527f68d464aa19001586c51c34ad0" contextRef="c20251209to20251209" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric><br/>
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    <td colspan="3" style="width: 98.3%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
          </td>

  </tr>

  <tr>

    <td colspan="3" style="width: 1.7%; vertical-align: top; font-size: 10pt;">
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    <td colspan="3" style="width: 98.3%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
          </td>

  </tr>


</table>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">S<span style="font-family: 'Times New Roman'; font-weight: bold;">ecurities registered pursuant to Section 12(b) of the Act:</span></div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-weight: bold;"> <br/>
      </span></div>

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            <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Title of Class</div>
          </td>

    <td style="width: 1.85%; vertical-align: middle; font-size: 10pt; padding-bottom: 2px; text-align: center;">&#160;</td>

    <td style="width: 17.9%; vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Trading Symbol(s)</div>
          </td>

    <td style="width: 1.85%; vertical-align: middle; font-size: 10pt; padding-bottom: 2px; text-align: center;">&#160;</td>

    <td style="width: 39%; vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Name of each exchange on which registered</div>
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  </tr>

  <tr>

    <td style="width: 39%; vertical-align: bottom; font-size: 10pt; text-align: center;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_eab1484064be414a932cd4b4ada71e60" contextRef="c20251209to20251209_StatementClassOfStockAxis_CommonStockMember">Common Stock, $0.001 par value per share</ix:nonNumeric><br/>
          </td>

    <td style="width: 1.85%; vertical-align: middle; font-size: 10pt; text-align: center;">&#160;</td>

    <td style="width: 17.9%; vertical-align: bottom; font-size: 10pt; text-align: center;"><ix:nonNumeric name="dei:TradingSymbol" id="Fact_16f8930c047746bb8ca10fd733f06f3f" contextRef="c20251209to20251209_StatementClassOfStockAxis_CommonStockMember">MELI</ix:nonNumeric><br/>
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    <td style="width: 1.85%; vertical-align: middle; font-size: 10pt; text-align: center;">&#160;</td>

    <td style="width: 39%; vertical-align: bottom; font-size: 10pt;">
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  </tr>

  <tr>

    <td style="width: 39%; vertical-align: bottom; font-size: 10pt; text-align: center;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_99324632296f4caa919df00cca1d0348" contextRef="c20251209to20251209_StatementClassOfStockAxis_Two375SustainabilityNotesDue2026Member">2.375% Sustainability Notes due 2026</ix:nonNumeric></td>

    <td style="width: 1.85%; vertical-align: middle; font-size: 10pt; text-align: center;">&#160;</td>

    <td style="width: 17.9%; vertical-align: bottom; font-size: 10pt; text-align: center;"><ix:nonNumeric name="dei:TradingSymbol" id="Fact_b911aad101d84c7eb23391455b3c95c6" contextRef="c20251209to20251209_StatementClassOfStockAxis_Two375SustainabilityNotesDue2026Member">MELI26</ix:nonNumeric><br/>
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    <td style="width: 1.85%; vertical-align: middle; font-size: 10pt; text-align: center;">&#160;</td>

    <td style="width: 39%; vertical-align: bottom; font-size: 10pt; text-align: center;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_e649711aad9541d3b67393c3dc453c78" contextRef="c20251209to20251209_StatementClassOfStockAxis_Two375SustainabilityNotesDue2026Member" format="ixt-sec:exchnameen">The Nasdaq Stock Market LLC</ix:nonNumeric><br/>
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  </tr>

  <tr>

    <td style="width: 39%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_b0c04384b4b341b2ab09e56ca64f4215" contextRef="c20251209to20251209_StatementClassOfStockAxis_Three125NotesDue2031Member">3.125% Notes due 2031</ix:nonNumeric><br/>
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          </td>

    <td style="width: 1.85%; vertical-align: middle; font-size: 10pt; text-align: center;">&#160;</td>

    <td style="width: 17.9%; vertical-align: bottom; font-size: 10pt; text-align: center;"><ix:nonNumeric name="dei:TradingSymbol" id="Fact_32353ea6748343899812ae7bba9e96db" contextRef="c20251209to20251209_StatementClassOfStockAxis_Three125NotesDue2031Member">MELI31</ix:nonNumeric><br/>
          </td>

    <td style="width: 1.85%; vertical-align: middle; font-size: 10pt; text-align: center;">&#160;</td>

    <td style="width: 39%; vertical-align: bottom; font-size: 10pt; text-align: center;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_9abbe0789ed5446da9a61f65dbac8970" contextRef="c20251209to20251209_StatementClassOfStockAxis_Three125NotesDue2031Member" format="ixt-sec:exchnameen">The Nasdaq Stock Market LLC</ix:nonNumeric><br/>
          </td>

  </tr>


</table>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the
      Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2). Emerging growth company <ix:nonNumeric name="dei:EntityEmergingGrowthCompany" id="Fact_bfb3d634f7e049a69927d47b62467226" contextRef="c20251209to20251209" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
      financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
    </div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
      <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"/></div>

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  <tr>

    <td style="width: 63pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 8.01.</td>

    <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman'; font-weight: bold;">Other Events.</div>
          </td>

  </tr>


</table>
    <div style="font-size: 10pt;">&#160;</div>

    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">On December 9, 2025, MercadoLibre, Inc. (the &#8220;Company&#8221; or &#8220;we&#8221;) closed its underwritten public offering of $750,000,000 aggregate principal amount of
      4.900% Notes due 2033 (the &#8220;Notes&#8221;) pursuant to the Company&#8217;s Registration Statement on Form S-3 (File No. 333-291604). The Notes were issued pursuant to an indenture (the &#8220;Indenture&#8221;), dated as of January 14, 2021, among the Company, the guarantors
      party thereto and The Bank of New York Mellon, as trustee (the &#8220;Trustee&#8221;), as supplemented by the fourth supplemental indenture (the &#8220;Fourth Supplemental Indenture&#8221;), dated as of December 9, 2025, among the Company and MercadoLibre S.R.L.,
      eBazar.com.br Ltda., Mercado Pago Institui&#231;&#227;o de Pagamento Ltda, DeRemate.com de M&#233;xico, S. de R.L. de C.V., MPFS, S. de R.L. de C.V., MP Agregador, S. de R.L. de C.V., MercadoLibre Chile Ltda. and MercadoLibre Colombia Ltda., as guarantors and the
      Trustee.</div>

    <div style="font-size: 10pt;">&#160;</div>

    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The foregoing description of the Indenture and Fourth Supplemental Indenture is qualified in its entirety by the terms of such agreements, which are
      filed hereto as Exhibits 4.1 and 4.2, respectively, and incorporated herein by reference. The foregoing description of the Notes is qualified in its entirety by reference to the full text of the respective form of Notes filed hereto as Exhibit 4.3,
      incorporated herein by reference.</div>

    <div style="font-size: 10pt;">&#160;</div>

    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">In connection with the offering, the legal opinions as to the validity of the Notes are attached hereto as Exhibits 5.1, 5.2, 5.3, 5.4, 5.5 and 5.6 and
      are incorporated herein by reference.</div>

    <div style="font-size: 10pt;">&#160;</div>

    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">This report on Form 8-K shall be deemed to be incorporated by reference in the registration statement on Form S-3 (Registration Nos. <span style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">333-291604, 333-291604-01, 333-291604-02, 333-291604-03, 333-291604-04, 333-291604-05, 333-291604-06, 333-291604-07, 333-291604-08</span>) of MercadoLibre, Inc., and to be part thereof
      from the date on which this report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.</div>

    <div style="font-size: 10pt;">&#160;</div>

    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;" class="DSPFListTable">


  <tr>

    <td style="width: 63pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 9.01</td>

    <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman'; font-weight: bold;">Financial Statements and Exhibits.</div>
          </td>

  </tr>


</table>
    <div style="font-size: 10pt;">&#160;</div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">(d) Exhibits</div>

    <div style="text-align: left;"><span style="font-size: 10pt; font-family: 'Times New Roman';"> </span><span style="font-size: 10pt;"><br/>
      </span></div>

    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000; border-spacing: 0;">


  <tr>

    <td style="width: 5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit</div>
            <div>
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Number</div>
            </div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt;">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Description</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: middle; font-size: 10pt;">&#160;</td>

    <td colspan="2" style="vertical-align: middle; font-size: 10pt;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="https://www.sec.gov/Archives/edgar/data/1099590/000114036121001217/nt10017308x18_ex4-1.htm">4.1</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Indenture, dated January 14, 2021, between MercadoLibre, Inc., MercadoLibre S.R.L., Ibazar.com Atividades de Internet Ltda., eBazar.com.br Ltda., Mercado Envios Servicos de
              Logistica Ltda., MercadoPago.com Representa&#231;&#245;es Ltda., MercadoLibre Chile Ltda., MercadoLibre, S. de R.L. de C.V., DeRemate.com de M&#233;xico, S. de R.L. de C.V. and MercadoLibre Colombia Ltda. and The Bank of New York Mellon, as trustee
              (incorporated herein by reference to Exhibit 4.1 to MercadoLibre Inc.&#8217;s Current Report on Form 8-K filed with the Commission on January 14, 2021).</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex4-2.htm">4.2</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt;">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Fourth Supplemental Indenture, dated December 9, 2025, between MercadoLibre, Inc., MercadoLibre S.R.L., eBazar.com.br Ltda., Mercado Pago Institui&#231;&#227;o de Pagamento Ltda, DeRemate.com
              de M&#233;xico, S. de R.L. de C.V., MPFS, S. de R.L. de C.V., MP Agregador, S. de R.L. de C.V., MercadoLibre Chile Ltda. and MercadoLibre Colombia Ltda. and The Bank of New York Mellon, as trustee.</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex4-3.htm">4.3</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Form of Global Note representing the Registrant&#8217;s Notes.</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-1.htm">5.1</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt;">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Opinion of Cleary Gottlieb Steen &amp; Hamilton LLP, counsel to the Company, as to the validity of debt securities and guarantees.</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-2.htm">5.2</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Opinion of Marval O'Farrell Mairal as to the validity of guarantees under Argentine law.</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-3.htm">5.3</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt;">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Opinion of Veirano Advogados as to the validity of guarantees under Brazilian law.</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-4.htm">5.4</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Opinion of Nader, Hayaux y Goebel, S.C. as to the validity of guarantees under Mexican law.</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-5.htm">5.5</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt;">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Opinion of Claro &amp; Cia. as to the validity of guarantees under Chilean law.</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-6.htm">5.6</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Opinion of Brigard &amp; Urrutia Abogados SAS as to the validity of guarantees under Colombian law.</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-1.htm">23.1</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt;">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Consent of Cleary Gottlieb Steen &amp; Hamilton LLP (included in opinion filed as Exhibit 5.1).</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-2.htm">23.2</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Consent of Marval O'Farrell Mairal (included in opinion filed as Exhibit 5.2).</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-3.htm">23.3</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt;">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Consent of Veirano Advogados (included in opinion filed as Exhibit 5.3).</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-4.htm">23.4</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Consent of Nader, Hayaux y Goebel, S.C. (included in opinion filed as Exhibit 5.4).</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-5.htm">23.5</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt;">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Consent of Claro &amp; Cia. (included in opinion filed as Exhibit 5.5).</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';"><a href="ef20060926_ex5-6.htm">23.6</a></div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Consent of Brigard &amp; Urrutia Abogados SAS (included in opinion filed as Exhibit 5.6).</div>
          </td>

  </tr>

  <tr>

    <td style="width: 5%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">104</div>
          </td>

    <td style="width: 2%; vertical-align: bottom; font-size: 10pt;">&#160;</td>

    <td style="width: 93%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Cover Page Interactive Data File (embedded within the Inline XBRL document).</div>
          </td>

  </tr>


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    <div style="text-align: left;"><span style="font-size: 10pt; font-family: 'Times New Roman';"> </span><span style="font-size: 10pt;"><br/>
      </span></div>

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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SIGNATURES</div>

    <div style="font-size: 10pt;">&#160;</div>

    <div style="text-align: left; text-indent: 23pt; font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</div>

    <div style="text-align: left;"><span style="font-size: 10pt; font-family: 'Times New Roman';"> </span><span style="font-size: 10pt;"><br/>
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    <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>

    <td colspan="2" style="vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; margin-right: 2.8pt; font-family: 'Times New Roman';">MercadoLibre, Inc.</div>
          </td>

  </tr>

  <tr>

    <td style="width: 50%; vertical-align: middle; font-size: 10pt;">&#160;</td>

    <td style="width: 5%; vertical-align: middle; font-size: 10pt;">&#160;</td>

    <td style="width: 45%; vertical-align: middle; font-size: 10pt;">&#160;</td>

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  <tr>

    <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left; margin-right: 0.8pt; font-family: 'Times New Roman'; font-size: 10pt;">Dated: December 9, 2025</div>
          </td>

    <td style="width: 5%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; margin-right: 0.8pt; font-family: 'Times New Roman';">By:</div>
          </td>

    <td style="width: 45%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: left; margin-right: 0.8pt; font-family: 'Times New Roman';">/s/ Mart&#237;n de los Santos</div>
          </td>

  </tr>

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    <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>

    <td style="width: 5%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; margin-right: 0.8pt; font-family: 'Times New Roman';">Name:</div>
          </td>

    <td style="width: 45%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; margin-right: 0.8pt; font-family: 'Times New Roman';">Mart&#237;n de los Santos</div>
          </td>

  </tr>

  <tr>

    <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>

    <td style="width: 5%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; margin-right: 0.8pt; font-family: 'Times New Roman';">Title:</div>
          </td>

    <td style="width: 45%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; margin-right: 0.8pt; font-family: 'Times New Roman';">Chief Financial Officer</div>
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      <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit 4.2</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">MercadoLibre, Inc.</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$750,000,000 4.900% Notes due 2033</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Guaranteed by</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">MercadoLibre S.R.L.</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">eBazar.com.br Ltda.</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Mercado Pago Institui&#231;&#227;o de Pagamento Ltda</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">MercadoLibre Chile Ltda.</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">DeRemate.com de M&#233;xico, S. de R.L. de C.V.</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">MP Agregador, S. de R.L. de C.V.</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">MPFS, S. de R.L. de C.V.</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">MercadoLibre Colombia Ltda.</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;"><br>
    </div>
    <div style="font-size: 10pt;">
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">FOURTH SUPPLEMENTAL INDENTURE</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">Dated as of December 9, 2025</div>
    <div style="font-size: 10pt;">
      <div>&#160;</div>
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    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">The Bank of New York Mellon,</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">as Trustee, Registrar, Paying Agent</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">&#160;and Transfer Agent</div>
    <div style="font-size: 10pt;">&#160;</div>
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    </div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Fourth Supplemental Indenture (this &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Fourth Supplemental Indenture</font>&#8221;) dated as of
      December 9, 2025 by and among MercadoLibre, Inc. (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Company</font>&#8221;), the Subsidiary Guarantors (as defined herein), and The Bank of New York Mellon, as trustee (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Trustee</font>&#8221;), registrar, paying agent, and transfer agent.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">RECITALS</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">A.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">The Company and the Trustee, executed and
          delivered an Indenture, dated as of January 14, 2021 (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Base Indenture</font>&#8221;), to provide for the issuance by the Company from time to time of debentures, notes or other debt
          instruments evidencing its indebtedness. The Base Indenture, as supplemented and amended by this Fourth Supplemental Indenture, is herein referred to as the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Indenture</font>.&#8221;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">B.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">The Company has authorized the issuance of
          U.S.$750,000,000 principal amount of 4.900% Notes due 2033 (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Notes</font>&#8221;).</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">C.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">The Company and the Subsidiary Guarantors
          desire to enter into this Fourth Supplemental Indenture pursuant to Section 2.1 and Section 10.1 of the Base Indenture to (i) establish the terms of the Notes and in accordance with Section 2.2 of the Base Indenture, (ii) establish the form of
          the Notes in accordance with Section 2.2.12 and Section 2.3, each of the Base Indenture, (iii) establish the terms and form of the Note Guarantees (as defined herein) in accordance with Section 2.2.22 and Section 2.19, each of the Base Indenture
          and (iv) change certain provisions of the Base Indenture with respect to the Notes.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">D.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">All things necessary to make this Fourth
          Supplemental Indenture a valid and legally binding agreement according to its terms have been done.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">NOW, THEREFORE, for and in consideration of the foregoing premises, the Company, the Subsidiary Guarantors and the Trustee mutually covenant and agree
      for the equal and proportionate benefit of the Holders from time to time of the Notes as follows:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ARTICLE I</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 1.1.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Additional Defined Terms</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">As used herein, the following defined terms shall have the following meanings with respect to the Notes only:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Additional Amounts</font>&#8221; has the meaning assigned to it in Section 2.7.2.</div>
    <div style="font-size: 10pt;">&#160;</div>
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    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Additional Subsidiary Guarantor</font>&#8221; has the meaning assigned to it in Section
      2.5.1.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Additional Note Guarantee</font>&#8221; has the meaning assigned to it in Section 2.5.1.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Acquired Indebtedness</font>&#8221; means Indebtedness of a Person or any of its
      subsidiaries existing at the time such Person becomes a Subsidiary of the Company or at the time it merges or consolidates with the Company or any of its Subsidiaries or is assumed in connection with the acquisition of assets from such Person.&#160;
      Acquired Indebtedness will be deemed to have been Incurred at the time such Person becomes a Subsidiary or at the time it merges or consolidates with the Company or a Subsidiary or at the time such Indebtedness is assumed in connection with the
      acquisition of assets from such Person.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Applicable Procedures</font>&#8221; means, with respect to any transfer or exchange of or
      for beneficial interests in any Global Note, the rules and procedures of the Depositary that apply to such transfer or exchange at the relevant time.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Attributable Debt</font>&#8221; means, with respect to a Sale and Lease-Back Transaction, at
      the time of determination, the present value of the total net amount of rent required to be paid under such lease during the remaining term thereof (including any period for which such lease has been extended), discounted at the applicable rate of
      interest set forth or implicit in the terms of such lease (or, if not practicable to determine such rate, the weighted average interest rate per annum borne by the Securities of all Series then outstanding under this Indenture).</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Capitalized Lease Obligations</font>&#8221; means, as to any Person, the obligations of such
      Person under a lease that are required to be classified and accounted for as capital lease obligations under GAAP.&#160; For purposes of this definition, the amount of such obligations at any date will be the capitalized amount of such obligations at such
      date, determined in accordance with GAAP. Notwithstanding the foregoing, the obligations of any Person that are or would have been treated as operating leases for purposes of GAAP prior to the issuance by the Financial Accounting Standards Board on
      February 25, 2016 of an Accounting Standards Update (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">ASU</font>&#8221;) shall continue to be accounted for as operating leases for purposes of all financial definitions and calculations
      for purpose of the Indenture (whether or not such operating lease obligations were in effect on such date) notwithstanding the fact that such obligations are required in accordance with the ASU (on a prospective or retroactive basis or otherwise) to
      be treated as Capitalized Lease Obligations.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">3</font></div>
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    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Certificated Note</font>&#8221; means a definitive note in registered non-global
      certificated form.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Change of Control</font>&#8221; means the occurrence of one or more of the following events:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(1)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the direct or indirect sale, conveyance,
          assignment, transfer, lease or other disposition (other than by way of merger or consolidation), in one or more transactions or series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries,
          determined on a consolidated basis, to any &#8220;person&#8221; (as that term is used in Section 13(d)(3) of the Exchange Act); or</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(2)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the consummation of any transaction
          (including, without limitation, any merger or consolidation) the result of which is that any person (including any &#8220;person&#8221; or &#8220;group&#8221; (as such terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act)) is or becomes the
          &#8220;beneficial owner&#8221; (as defined in Section 13(d)(3) of the Exchange Act) of more than 50% of the Voting Stock of the Company (including any Surviving Entity) measured by voting power rather than number of shares.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (i)(A) the Company becomes a wholly-owned Subsidiary of
      a holding company and (B) the Holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the Holders of the Company&#8217;s Voting Stock immediately prior to that transaction, (ii) pursuant to a
      transaction in which the shares of the Voting Stock of the Surviving Entity immediately after giving effect to such transaction are substantially the same as the Holders of the Company&#8217;s Voting Stock immediately prior to that transaction or (iii) the
      &#8220;person&#8221; referenced in clause (2) of the preceding sentence previously became the beneficial owner of the Company&#8217;s Voting Stock so as to have constituted a Change of Control in respect of which a Change of Control Offer was made (or otherwise would
      have if not for the waiver of such requirement by the Holders of the Notes).</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Change of Control Notice</font>&#8221; means notice of a Change of Control Offer made
      pursuant to Section 2.1, which shall be sent to each record Holder as shown on the Note Register within 30 days following the date upon which a Change of Control Repurchase Event occurred, with a copy to the Trustee, in the manner provided for in
      Section 11.1 of the Base Indenture and which notice shall govern the terms of the Change of Control Offer and shall state:</div>
    <div style="font-size: 10pt;">&#160;</div>
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      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">4</font></div>
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    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(1)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">that a Change of Control Repurchase Event
          has occurred, the circumstances or events causing such Change of Control Repurchase Event and that a Change of Control Offer is being made pursuant to Section 2.1, and that all Notes that are timely tendered shall be accepted for payment;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(2)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the Change of Control Payment, and the
          Change of Control Payment Date;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(3)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">that any Notes or portions thereof not
          tendered or accepted for payment shall continue to accrue interest;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(4)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">that, unless the Company defaults in the
          payment of the Change of Control Payment with respect thereto, all Notes or portions thereof accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest from and after the Change of Control Payment Date;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(5)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">that any Holder electing to have any Notes
          or portions thereof purchased pursuant to a Change of Control Offer shall be required to tender such Notes, with the form entitled &#8220;Option of Holder to Elect Purchase&#8221; on the reverse of such Notes completed, to the Paying Agent at the address
          specified in the notice prior to the close of business on the third Business Day preceding the Change of Control Payment Date;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(6)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">that any Holder shall be entitled to
          withdraw such election if the Paying Agent receives, not later than the close of business on the fifth Business Day preceding the Change of Control Payment Date, a facsimile transmission or letter, setting forth the name of the Holder, the
          principal amount of Notes delivered for purchase, and a statement that such Holder is withdrawing such Holder&#8217;s election to have such Notes or portions thereof purchased pursuant to the Change of Control Offer;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(7)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">that any Holder electing to have Notes
          purchased pursuant to the Change of Control Offer must specify the principal amount that is being tendered for purchase, which principal amount must be U.S.$50,000 or an integral multiple of U.S.$1,000 in excess thereof;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(8)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">that any Holder of Certificated Notes
          whose Certificated Notes are being purchased only in part shall be issued new Certificated Notes equal in principal amount to the unpurchased portion of the Certificated Note or Notes surrendered, which unpurchased portion shall be equal in
          principal amount to U.S.$50,000 or an integral multiple of U.S.$1,000 in excess thereof;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
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      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">5</font></div>
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    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(9)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">that the Trustee shall return to the
          Holder of a Global Note that is being purchased in part, such Global Note with a notation on the schedule of increases and decreases thereof adjusting the principal amount thereof to be equal to the unpurchased portion of such Global Note; and</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(10)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">that the Company will have the right, upon
          prior notice, to redeem all of the Notes at 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the Redemption Date (subject to the right of Holders of Notes on a relevant record date to receive
          interest on an interest payment date occurring on or prior to the Redemption Date), following the consummation of a Change of Control Repurchase Event if at least 90% of the Outstanding Notes prior to such consummation are purchased pursuant to a
          Change of Control Offer with respect to such Change of Control Repurchase Event in accordance with Section 2.1.6.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Change of Control Offer</font>&#8221; has the meaning assigned to it in Section 2.1.2.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Change of Control Payment</font>&#8221; has the meaning assigned to it in Section 2.1.1.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Change of Control Payment Date</font>&#8221; means a Business Day at least 30 days but no
      more than 60 days subsequent to the date on which the Change of Control Notice is given (other than as may be required by applicable law).</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Change of Control Repurchase Event</font>&#8221; means the occurrence of both a Change of
      Control and a Rating Downgrade Event.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Code</font>&#8221; has the meaning assigned to it in Section 2.7.3.8.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Common Stock</font>&#8221; means, with respect to any Person, any and all shares, interests
      or other participations in, and other equivalents (however designated and whether voting or non-voting) of such Person&#8217;s common equity interests, whether outstanding on the Issue Date or issued after the Issue Date, and includes, without limitation,
      all series and classes of such common equity interests.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Consolidated Total Assets</font>&#8221; means, at any date of determination, the total
      assets of the Company and its Subsidiaries and VIEs on a consolidated basis, as shown on the most recent quarterly financial statements of the Company provided to the Trustee pursuant to Section 5.5 of the Base Indenture (or required to be provided
      thereunder), calculated in accordance with GAAP and on a pro forma basis to give effect to any acquisition or disposition of companies, divisions, lines of businesses or operations or assets by the Company and its Subsidiaries and VIEs subsequent to
      such date and on or prior to the date of determination.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">6</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Disqualified Capital Stock</font>&#8221; means that portion of any Capital Stock which, by
      its terms (or by the terms of any security into which it is convertible or for which it is exchangeable at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund
      obligation or otherwise, or is redeemable at the sole option of the holder thereof, in whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature; <font style="font-family: 'Times New Roman'; font-style: italic;">provided</font>, however, that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such date will be deemed to
      be Disqualified Capital Stock; <font style="font-family: 'Times New Roman'; font-style: italic;">provided</font>, <font style="font-family: 'Times New Roman'; font-style: italic;">further, </font>however, that, if such Capital Stock is issued to
      any employee or to any plan for the benefit of employees of the Company, any direct or indirect parent of the Company, or the Company&#8217;s Subsidiaries or by any such plan to such employees, such Capital Stock will not constitute Disqualified Capital
      Stock solely because it may be required to be repurchased by the Company in order to satisfy applicable statutory or regulatory obligations or as a result of such employee&#8217;s termination, death or disability; provided, further, that any class of
      Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that is not Disqualified Capital Stock will not be deemed to be Disqualified Capital Stock.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Global Note Legend</font>&#8221; means the legend set forth in Section 1.4 hereof, which is
      required to be placed on all Global Notes issued under the Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Global Notes</font>&#8221; means, individually and collectively, each of the global notes,
      substantially in the form of Exhibit A hereto and that bears the Global Note Legend, issued in accordance with Section 2.1 of the Base Indenture and Section 1.3 hereof.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Excluded Subsidiary</font>&#8221; means any Subsidiary that: (i) is not or ceases to be a
      Wholly Owned Subsidiary of the Company as a consequence of a third party investing in or acquiring Capital Stock of such Subsidiary for fair market value, as determined in good faith by the Company; (ii) is prohibited or restricted by applicable law
      or regulation from being or becoming a Subsidiary Guarantor or, if the guarantee of the Notes would require governmental (including regulatory) consent, approval, license or authorization, or is or becomes a regulated entity that is subject to net
      worth or net capital or similar capital and surplus restrictions, and in each case, the Company reasonably determines that the granting or maintenance of a Note Guarantee by such Subsidiary is prohibited by, or would be unduly burdensome under,
      applicable laws or regulations; or (iii) in the case of any Subsidiary other than an Initial Subsidiary Guarantor, the Company reasonably determines that the granting or maintenance of a Note Guarantee by such Subsidiary would result in adverse tax
      consequences to the Company or any of its Subsidiaries.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">7</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 72pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Fair Market Value</font>&#8221; means, with respect to any asset, the price (after taking
      into account any liabilities relating to such assets) which could be negotiated in an arm&#8217;s-length free market transaction, for cash, between a willing seller and a willing and able buyer, neither of which is under any compulsion to complete the
      transaction; <font style="font-family: 'Times New Roman';"><u>provided </u></font>that the Fair Market Value of any such asset or assets will be determined conclusively by the Board of Directors of the Company acting in good faith, and will be
      evidenced by a Board Resolution.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Fitch</font>&#8221; means Fitch Ratings, Inc., and its subsidiaries, and any successors
      thereto.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-right: 15.1pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Guarantee</font>&#8221; means any obligation, contingent or otherwise,
      of any Person directly or indirectly guaranteeing any Indebtedness of any other Person:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 18pt; margin-right: 23.05pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(1)</font><font style="font-size: 10pt;">&#160; <font style="font-family: 'Times New Roman';">to
          purchase or pay, or advance or supply funds for the purchase or payment of, such Indebtedness of such other Person, whether arising by virtue of partnership arrangements, or by agreement to keep-well, to purchase assets, goods, securities or
          services, to take-or-pay, or to maintain financial statement conditions or otherwise; or</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 18pt; margin-right: 24.15pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(2)</font><font style="font-size: 10pt;">&#160; <font style="font-family: 'Times New Roman';">entered


          into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof, in whole or in part;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">provided </font><font style="font-size: 10pt;">that &#8220;Guarantee&#8221; will
        not include endorsements for collection or deposit in the ordinary course of business. &#8220;Guarantee,&#8221; when used as a verb, has a corresponding meaning.&#160; The term &#8220;Guarantee&#8221; shall not apply to a guarantee of intercompany indebtedness among the
        Company, the Subsidiary Guarantors and the Subsidiaries or among the Subsidiary Guarantors or the Subsidiaries.</font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">8</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Hedging Obligations</font>&#8221; means, with respect to any Person, the obligations of such
      Person with respect to (1) any rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index
      swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions,
      cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is
      governed by or subject to any master agreement, and (2) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International
      Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Master Agreement</font>&#8221;), including any such obligations or liabilities under any Master Agreement.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Incur</font>&#8221; means, with respect to any Indebtedness or other obligation of any
      Person, to create, issue, incur (including by conversion, exchange or otherwise), assume, guarantee or otherwise become liable in respect of such Indebtedness (and &#8220;<font style="font-family: 'Times New Roman';"><u>Incurrence</u></font>&#8221; and &#8220;<font style="font-family: 'Times New Roman';"><u>Incurred</u></font>&#8221; will have meanings correlative to the foregoing), <font style="font-family: 'Times New Roman';"><u>provided</u></font><font style="font-family: 'Times New Roman'; font-style: italic;">&#160;</font>that


      (1) any Indebtedness of a Person existing at the time such Person becomes a Subsidiary of the Company will be deemed to be Incurred by such Subsidiary at the time it becomes a Subsidiary of the Company and (2) neither the accrual of interest nor the
      accretion of original issue discount nor the payment of dividends on Disqualified Capital Stock or Preferred Stock in the form of additional shares of the same class of Disqualified Capital Stock or Preferred Stock will be considered an Incurrence of
      Indebtedness.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Indebtedness</font>&#8221; means, with respect to any Person, without duplication:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(1)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the principal amount (or, if less, the
          accreted value) of all obligations of such Person for borrowed money;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(2)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the principal amount (or, if less, the
          accreted value) of all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(3)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">all Capitalized Lease Obligations of such
          Person;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(4)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">all obligations of such Person issued or
          assumed as the deferred purchase price of property, all conditional sale obligations and all obligations under any title retention agreement (but excluding trade accounts or other short term obligations to suppliers payable within 180 days, in
          each case in the ordinary course of business);</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">9</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(5)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">all reimbursement obligations in respect
          of letters of credit, banker&#8217;s acceptances or similar credit transactions (except to the extent incurred in the ordinary course of business and such obligation is satisfied within 20 Business Days of Incurrence);</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(6)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">guarantees and other contingent
          obligations of such Person in respect of Indebtedness referred to in clauses (1) through (5) above;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(7)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">all Indebtedness of any other Person of
          the type referred to in clauses (1) through (6) above which is secured by any Lien on any property or asset of such Person, the amount of such Indebtedness being deemed to be the lesser of the Fair Market Value of such property or asset and the
          amount of the Indebtedness so secured; and</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(8)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">all Disqualified Capital Stock issued by
          such Person with the amount of Indebtedness represented by such Disqualified Capital Stock being equal to the greater of its voluntary or involuntary liquidation preference and its maximum fixed repurchase price, but excluding accrued dividends,
          if any; <font style="font-family: 'Times New Roman';"><u>provided</u></font> that:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">(a)&#160; if the Disqualified Capital Stock does not have a fixed repurchase price, such maximum fixed repurchase price will be calculated
      in accordance with the terms of the Disqualified Capital Stock as if the Disqualified Capital Stock were purchased on any date on which Indebtedness will be required to be determined pursuant to the Indenture; and</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(b)</font><font style="font-size: 10pt;">&#160; <font style="font-family: 'Times New Roman';">if the maximum fixed
          repurchase price is based upon, or measured by, the fair market value of the Disqualified Capital Stock, the fair market value will be the Fair Market Value thereof.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The amount of Indebtedness of any Person at any date will be deemed to be: (i) with respect to contingent obligations, the maximum liability upon the
      occurrence of the contingency giving rise to the obligations, <font style="font-family: 'Times New Roman';"><u>provided</u></font> that with respect to contingent obligations related to Permitted Securitization Financings, the amount that would
      appear as a liability on the balance sheet of such Person in accordance with GAAP; (ii) with respect to any Indebtedness issued with original issue discount, the face amount of such Indebtedness less the remaining unamortized portion of the original
      issue discount of such Indebtedness; and (iii) otherwise, the outstanding principal amount thereof. Notwithstanding the foregoing, the following shall not constitute Indebtedness: (i) Hedging Obligations and (ii) Non-Recourse Indebtedness.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">10</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Indirect Participant</font>&#8221; means any entity that, with respect to the Depositary,
      clears through or maintains a direct or indirect custodial relationship with a Participant.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Initial Subsidiary Guarantors</font>&#8221; mean <font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">MercadoLibre S.R.L., eBazar.com.br Ltda., Mercado Pago Institui&#231;&#227;o de Pagamento Ltda, MercadoLibre Chile Ltda., DeRemate.com de M&#233;xico, S. de R.L. de C.V., MP </font>Agregador<font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">, S. de R.L. de C.V., MPFS, S. de R.L. de C.V. and MercadoLibre Colombia Ltda.</font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Interest Payment Date</font>&#8221; means the stated due date of an installment of interest
      on the Notes set forth in the Notes.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Lien</font>&#8221; means any lien, mortgage, deed of trust, pledge, security interest,
      charge or encumbrance of any kind (including any conditional sale or other title retention agreement, any lease in the nature thereof and any agreement to give any security interest); <font style="font-family: 'Times New Roman';"><u>provided</u></font>
      that the lessee in respect of a Capitalized Lease Obligation or Sale and Lease-Back Transaction will be deemed to have Incurred a Lien on the property leased thereunder; <font style="font-family: 'Times New Roman';"><u>provided</u></font> that in no
      event shall an operating lease be deemed to constitute a Lien.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Maturity Date</font>&#8221; means, when used with respect to any Note, the date on which the
      principal of such Note becomes due and payable as therein or herein provided, whether at Stated Maturity or by declaration of acceleration, call for redemption, exercise of the repurchase right or otherwise.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Non-Recourse Indebtedness</font>&#8221; means any Indebtedness of the Company or any
      Subsidiary for which the holder of such Indebtedness has no recourse, directly or indirectly, to the Company or such Subsidiary for the principal of, premium, if any, and interest on such Indebtedness, and for which the Company or such Subsidiary is
      not, directly or indirectly, obligated or otherwise liable for the principal of, premium, if any, and interest on such Indebtedness, except pursuant to security interests or collateral documents or other recourse, obligations or liabilities, in
      respect of specific assets of the Company or such Subsidiary securing such Indebtedness; provided, that, recourse, obligations or liabilities solely for indemnities, breaches of warranties or representations that are contained in such security
      interests or collateral documents or other documentation in respect of Indebtedness, will not prevent that Indebtedness from being classified as Non-Recourse Indebtedness.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Note Guarantee</font>&#8221; means the Guarantee by a Subsidiary Guarantor of the Company&#8217;s
      obligations under the Indenture and the Notes, pursuant to the provisions of the Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">11</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Participant</font>&#8221; means, with respect to the Depositary, a Person who has an account
      with the Depositary.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Permitted Liens</font>&#8221; means any of the following Liens:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 17.4pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(1)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          existing on the Issue Date and any extension, renewal or replacement thereof, so long as the principal amount of Indebtedness secured thereby does not exceed the principal amount of Indebtedness so secured at the time of such extension, renewal
          or replacement (except that, where an additional principal amount of Indebtedness is incurred to provide funds for the completion of a specific project, the additional principal amount, and any related financing costs, may be secured by the Lien
          as well) and the Lien is limited to the same property subject to the Lien so extended, renewed or replaced (and any improvements on such property);</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 17.4pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(2)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">statutory


          Liens of landlords and Liens of carriers, warehousemen, mechanics, suppliers, materialmen, repairmen and other Liens imposed by law incurred in the ordinary course of business for sums not yet delinquent or being contested in good faith by
          appropriate proceedings;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 17.4pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(3)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">(a)
          licenses, sublicenses, leases or subleases granted by the Company or any of its Subsidiaries to other Persons not materially interfering with the conduct of the business of the Company or any of its Subsidiaries and (b) any interest or title of a
          lessor, sublessor or licensor under any lease or license agreement permitted by the Indenture to which the Company or any Subsidiary is a party;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 13.75pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(4)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          Incurred or deposits made in the ordinary course of business in connection with workers&#8217; compensation, unemployment insurance and other types of social security, including any Lien securing letters of credit issued in the ordinary course of
          business in connection therewith, or to secure the performance of tenders, statutory obligations, surety and appeal bonds, customs duties, bids, leases, government performance and return-of-money bonds and other similar obligations (exclusive of
          obligations for the payment of borrowed money);</font></font></div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 34.85pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(5)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          upon specific items of inventory or other goods and proceeds of any Person securing such Person&#8217;s obligations in respect of bankers&#8217; acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of
          such inventory or other goods;</font></font></div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 34.85pt; margin-left: 23pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> <br>
        </font></font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">12</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 21.65pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(6)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          on patents, trademarks, service marks, trade names, copyrights, technology, know-how and processes to the extent such Liens arise from the granting of license to use such patents, trademarks, service marks, trade names, copyrights, technology,
          know-how and processes to any Person in the ordinary course of business of the Company or any of its Subsidiaries;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 12.5pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(7)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          securing reimbursement obligations with respect to commercial letters of credit which encumber documents and other property relating to such letters of credit and products and proceeds thereof;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 14.65pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(8)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          encumbering deposits made to secure obligations arising from statutory, regulatory, contractual, or warranty requirements of the Company or a Subsidiary, including rights of offset and set-off;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 10.75pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(9)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">(i)
          Liens for taxes, assessments or other governmental charges, and (ii) attachment or judgment Liens, in each case, which are being contested in good faith by appropriate proceedings, <font style="font-family: 'Times New Roman';"><u>provided</u></font><font style="font-family: 'Times New Roman'; font-style: italic;">&#160;</font>that reserves or other appropriate provisions, if any, as may be required pursuant to GAAP have been made in respect thereof;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 17.65pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(10)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">encumbrances,


          ground leases, easements or reservations of, or rights of others for, licenses, rights of way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning, building codes or other restrictions (including, without
          limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real properties or Liens incidental to the conduct of the business of the Company or any of its Subsidiaries or to the ownership, lease or sublease of
          properties which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of the Company or any of its Subsidiaries;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 28.65pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(11)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">deposits


          in the ordinary course of business securing liability for reimbursement obligations of insurance carriers providing insurance to the Company or its Subsidiaries and any Liens thereon;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 23pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(12)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          arising solely by virtue of any statutory or common law provisions relating to banker&#8217;s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a depositary institution;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 13.5pt; margin-left: 27pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(13)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens in favor of the
          government of Argentina, Brazil, Mexico, Chile, Colombia and the United States or any political subdivision thereof, to secure payments pursuant to any contract with such government or to any statute to which the Company or any of its
          Subsidiaries is subject;</font></font></div>
    <div style="text-align: left; text-indent: 13.5pt; margin-left: 27pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> <br>
        </font></font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">13</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div>
      <div style="text-align: left; text-indent: 13.5pt; margin-left: 27pt;">(14)&#160;&#160; Liens securing the Notes or any guarantees of the Notes;</div>
    </div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 10.2pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(15)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          securing Indebtedness or other obligations of a Subsidiary owing to the Company or another Subsidiary;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 10.2pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(16)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          securing Acquired Indebtedness not incurred in connection with, or in anticipation or contemplation of, the relevant acquisition, merger or consolidation; <font style="font-family: 'Times New Roman';"><u>provided</u></font><font style="font-family: 'Times New Roman'; font-style: italic;">&#160;</font>that:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 37.25pt; margin-right: 22.4pt; margin-left: 23pt; font-family: 'Times New Roman'; font-size: 10pt;">&#160;(a) such Liens secured such Acquired Indebtedness at the time of and prior to the Incurrence of such
      Acquired Indebtedness by the Company or a Subsidiary and were not granted in connection with, or in anticipation of the Incurrence of such Acquired Indebtedness by the Company or a Subsidiary; and</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: left; text-indent: 37.25pt; margin-right: 22.4pt; margin-left: 23pt; font-family: 'Times New Roman'; font-size: 10pt;">&#160;(b) such Liens do not extend to or cover any property of the Company or any Subsidiary other than the
      property that secured the Acquired Indebtedness prior to the time such Indebtedness became Acquired Indebtedness of the Company or a Subsidiary and are no more favorable to the lienholders than the Liens securing the Acquired Indebtedness prior to
      the Incurrence of such Acquired Indebtedness by the Company or a Subsidiary.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 22.4pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(17)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">purchase


          money Liens securing Purchase Money Indebtedness or Capitalized Lease Obligations Incurred (or guarantees in respect thereof) to finance the acquisition or leasing of property of the Company or a Subsidiary; <font style="font-family: 'Times New Roman';"><u>provided</u></font><font style="font-family: 'Times New Roman'; font-style: italic;">&#160;</font>that:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 9.4pt; margin-left: 22.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the
          related Purchase Money Indebtedness does not exceed the cost of such property and will not be secured by any property of the Company or any Subsidiary other than the property so acquired; and</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 9.4pt; margin-left: 22.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the
          Lien securing such Indebtedness will be created within 365 days of such acquisition;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 19.7pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(18)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          granted to secure Indebtedness from, directly or indirectly, any international or multilateral development bank, government-sponsored agency, export-import bank or agency, or official export-import credit insurer;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 19.7pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(19)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          incurred in connection with a Permitted Securitization Financing; or</font></font></div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 19.7pt; margin-left: 23pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> <br>
        </font></font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">14</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 19.7pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(20)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          incurred in connection with Non-Recourse Indebtedness; or</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 19.7pt; margin-left: 23pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(21)</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Liens
          securing an amount of Indebtedness or Attributable Debt outstanding at any one time not to exceed the greater of (a) U.S.$11,007 million (or the equivalent in other currencies) or (b) 30<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup>% of Consolidated Total Assets.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 18pt; margin-right: 26.7pt; margin-left: 5pt; font-family: 'Times New Roman'; font-size: 10pt;">For purposes of determining compliance with this covenant, (i) a Lien need not be incurred solely by reference to
      one category of Permitted Liens described above but are permitted to be incurred in part under any combination thereof and of any other available exemption, and (ii) in the event that a Lien (or any portion thereof) meets the criteria of one or more
      of the categories of Permitted Liens, the Company shall, in its sole discretion, classify or reclassify such Lien (or any portion thereof) in any manner that complies with the categories of Permitted Liens.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Permitted Securitization Financing</font>&#8221; means any of one or more financing
      facilities in respect of accounts receivables, credit card receivables, credit loans or any rights to receive payments in the ordinary course of business (whether in the form of a securitization, factoring, discounting, individual or global/bulk
      assignment or other similar financing transaction) the obligations of which are non-recourse to the Company or any Subsidiary (other than a Securitization Subsidiary or other Person that is not a Subsidiary), except for customary representations,
      warranties, covenants, indemnities, legal or regulatory obligations with respect to the validity or existence of the assigned, discounted or secured right, and other customary carve outs or guarantees in connection with such facilities, as amended,
      supplemented, modified, extended, renewed, restated or refunded from time to time.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Preferred Stock</font>&#8221; means, with respect to any Person, any Capital Stock of such
      Person that has preferential rights over any other Capital Stock of such Person with respect to dividends, distributions or redemptions or upon liquidation.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Prospectus</font>&#8221; means the prospectus or supplemental prospectus of the Notes.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Purchase Money Indebtedness</font>&#8221; means Indebtedness Incurred for the purpose of
      financing all or any part of the purchase price, or other cost of construction or improvement of any property; <font style="font-family: 'Times New Roman';"><u>provided</u></font> that the aggregate principal amount of such Indebtedness does not
      exceed such purchase price or cost, including any Refinancing of such Indebtedness that does not increase the aggregate principal amount (or accreted amount, if less) thereof as of the date of the Refinancing.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">15</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Qualified Capital Stock</font>&#8221; means any Capital Stock that is not Disqualified
      Capital Stock and any warrants, rights or options to purchase or acquire Capital Stock that is not Disqualified Capital Stock that are not convertible into or exchangeable into Disqualified Capital Stock.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Rating Agency</font>&#8221; means (1) each of Fitch and S&amp;P; and (2) if any of Fitch or
      S&amp;P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of our control, a &#8220;nationally recognized statistical rating organization&#8221; within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange
      Act, selected by us as a replacement agency for Fitch or S&amp;P, as the case may be.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Rating Downgrade Event</font>&#8221; means the rating on the Notes is lowered from their
      rating then in effect as a result of any event or circumstance comprised of or arising as a result of, or in respect of, a Change of Control (or pending Change of Control) by at least two of the Rating Agencies on any date during the period (the &#8220;<font style="font-family: 'Times New Roman';"><u>Trigger Period</u></font>&#8221;) commencing on the earlier of (i) the occurrence of a Change of Control and (ii) the first public notice of the intention by the Company to effect a Change of Control, and ending
      60 days thereafter (which Trigger Period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies).&#160; In the event that less than two Rating Agencies are
      providing a rating for the Notes at the commencement of any Trigger Period, then a &#8220;Rating Downgrade Event&#8221; shall be deemed to have occurred during that Trigger Period.&#160; Notwithstanding the foregoing, no Rating Downgrade Event will be deemed to have
      occurred as a result of any event or circumstance comprised of or arising as a result of, or in respect of, a Change of Control unless and until such Change of Control has actually been consummated.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Redemption Date</font>&#8221; means, when used with respect to any Note to be redeemed, the
      date fixed for such redemption by or pursuant to the Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Refinance</font>&#8221; means, in respect of any Indebtedness, to issue any Indebtedness in
      exchange for or to refinance, replace, defease or refund such Indebtedness in whole or in part.&#160; &#8220;Refinanced&#8221; and &#8220;Refinancing&#8221; have correlative meanings.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Relevant Jurisdiction</font>&#8221; has the meaning assigned to it in Section 2.7.2.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">S&amp;P</font>&#8221; means S&amp;P Global Ratings, a division of S&amp;P Global, Inc., or
      any successor thereto.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">16</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Sale and Lease-Back Transaction</font>&#8221; means any direct or indirect arrangement with
      any Person or to which any such Person is a party providing for the leasing to the Company or a Subsidiary of any property, whether owned by the Company or any Subsidiary at the Issue Date or later acquired, which has been or is to be sold or
      transferred by the Company or such Subsidiary to such Person or to any other Person by whom funds have been or are to be advanced on the security of such Property for a sale price of U.S. $100 million (or its equivalents in other currencies) or more.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Securitization Subsidiary</font>&#8221; means a Subsidiary of the Company</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">(1) that is designated a &#8220;Securitization Subsidiary&#8221; by the Board of Directors;</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">(2) that does not engage in, and whose charter prohibits it from engaging in, any activities other than Permitted Securitization Financings and any
      activity necessary, incidental or related thereto;</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">(3) no portion of the Indebtedness or any other obligation, contingent or otherwise, of which</div>
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    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">(b) is recourse to or obligates the Company or any other Subsidiary of the Company in any way, or</div>
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    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">(c) subjects any property or asset of the Company or any other Subsidiary of the Company, directly or indirectly, contingently or
      otherwise, to the satisfaction thereof; and</div>
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    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">(4) with respect to which neither the Company nor any other Subsidiary of the Company has any obligation to maintain or preserve its financial condition
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    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>provided</u></font><font style="font-size: 10pt;"> that, in respect of clauses (3) and
        (4), customary recourse pursuant to the definition of Permitted Securitization Financing shall be allowed.</font></div>
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    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Subsidiary Guarantor</font>&#8221; means the Initial Subsidiary Guarantors and any other
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    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">17</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Tax</font>&#8221; has the meaning assigned to it in Section 2.7.1.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Triggering Indebtedness</font>&#8221; means (i) any U.S. Dollar or Euro debt securities of
      the Company (other than the Notes) issued in the international capital markets, or (ii) any U.S. Dollar or Euro bilateral or syndicated credit facility extended by any financial institutions to the Company that has an aggregate principal amount at
      any one time outstanding in excess of U.S.$300 million.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">VIE</font>&#8221; means a variable interest entity which the Company consolidates by virtue
      of having both the power to direct the activities that most significantly impact the entity&#8217;s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the
      variable interest entity. For the purposes of this Indenture, a variable interest entity is an entity (i) that has insufficient equity to permit the entity to finance its activities without additional subordinated financial support, (ii) that has
      equity investors who lack the characteristics of a controlling financial interest or (iii) in which the voting rights of some equity investors are disproportionate to their obligation to absorb losses or their right to receive returns and
      substantially all of the entity&#8217;s activities are conducted on behalf of the equity investors with disproportionately few voting rights.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Wholly Owned Subsidiary</font>&#8221; means, with respect to a Subsidiary of a Person, a
      Subsidiary of such Person all of the outstanding Capital Stock of which (other than (x) director&#8217;s qualifying shares, and (y) shares issued to foreign nationals to the extent required by applicable law) are owned by such Person and/or by one or more
      wholly owned Subsidiaries of such Person.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 1.2.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Terms of the Notes</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The following terms relate to the Notes:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(1)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Notes shall constitute a separate
          Series of Securities under the Base Indenture having the title &#8220;4.900% Notes due 2033&#8221;.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">18</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(2)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The aggregate principal amount of the
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          Company may from time to time, without the consent of the Holders of such Notes, in one or more transactions, issue additional Notes (in any such case, &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Additional Notes</font>&#8221;)
          having substantially identical terms (other than issue price, Issue Date and date from which the interest will accrue) as the Initial Notes, and will carry the same right to receive accrued and unpaid interest as such Initial Notes previously
          outstanding. Any such Additional Notes together with the Initial Notes, shall each consolidate and form a single Series of Securities under the Indenture, including, among other things, the right to vote together with Holders of the relevant
          Notes issued on the Issue Date as one class, and all references to the &#8220;Notes&#8221; shall include the Initial Notes and the Additional Notes, as applicable, unless the context otherwise requires; <font style="font-family: 'Times New Roman';"><u>provided</u></font>,
          however, that a separate CUSIP or ISIN shall be issued for the Additional Notes, unless such Additional Notes are issued pursuant to a &#8220;qualified reopening&#8221; of the relevant original Series of Securities, are otherwise treated as part of the same
          &#8220;issue&#8221; of debt instruments as the original Series of Securities or are issued with no more than a <font style="font-family: 'Times New Roman'; font-style: italic;">de minimis</font> amount of original issue discount, in each case for U.S.
          federal income tax purposes. Such Additional Notes will also be guaranteed by the Subsidiary Guarantors (with the same ranking as the Note Guarantee for the initial Notes of such Series). The aggregate principal amount of the Additional Notes
          that may be issued shall be unlimited.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(3)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Notes shall mature on January 15, 2033
          unless earlier redeemed in accordance with the terms of the 2033 Notes and the Indenture.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 67pt; margin-left: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(4)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Interest on the Notes
          will accrue at the rate of 4.900% per year and shall be payable semi-annually in arrears on January 15 and July 15 of each year, commencing on July 15, 2026. Payments will be made to the persons who are registered Holders at the close of business
          on January 1 and July 1, as the case may be, immediately preceding the applicable Interest Payment Date (whether or not a Business Day). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no
          interest has been paid, from and including the Issue Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(5)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Notes will be issued in the form of
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          the form attached hereto as Exhibit A, the terms of which are herein incorporated by reference. The Notes shall be denominated and payable in U.S. Dollars and will be issuable in minimum denominations of U.S.$50,000 and any integral multiple of
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    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(6)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Notes may be redeemed prior to their
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    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(7)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Notes will not be entitled to the
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    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">19</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(8)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Except as provided in Section 1.3, Section
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          occurrence of any particular events.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(9)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Notes will:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;
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    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">rank equal in right of payment with all other existing and future senior unsecured indebtedness of the Company;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(c)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">rank senior in right of payment to all existing and future subordinated indebtedness of the Company, if any;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(d)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">be effectively subordinated to all existing and future secured indebtedness of the Company to the extent of the value of the assets securing such indebtedness;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(e)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">be effectively subordinated to obligations of the Company preferred by statute or by operation of law;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(f)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">be guaranteed by each Subsidiary Guarantor with such Note Guarantee ranking equal in right of payment with all other existing and future senior unsecured indebtedness of such Subsidiary Guarantor, except
          for statutory priorities under applicable local law; and</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(g)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">be effectively subordinated to all existing and future indebtedness of any Subsidiary that does not provide a Note Guarantee.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(10)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Notes are not convertible into Common
          Stock or other securities of the Company.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(11)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The covenants set forth in Articles V and
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    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(12)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Notes shall be issued as Unrestricted
          Securities.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 1.3.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Transfer and Exchange</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">20</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.3.1</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Transfer and Exchange of Global Notes</u></font>.&#160; This Section 1.3.1 replaces the second paragraph of Section 2.14.2 of the Base Indenture with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">Except as provided in Section 2.14.2 of the Base Indenture, a Global Note may not be transferred except as a whole by the Depositary with respect to
        such Global Note to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such a successor
        Depositary; however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.7 of the Base Indenture, as amended by Section 1.3.5.</font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.3.2</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Transfer and Exchange of Beneficial Interests in the Global Notes</u></font>.&#160; This Section 1.3.2 shall apply with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 108.9pt; font-family: 'Times New Roman'; font-size: 10pt;">The transfer and exchange of beneficial interests in the Global Notes will be effected through the Depositary, in accordance with the provisions of
      the Indenture and the Applicable Procedures. Transfers of beneficial interests in the Global Notes also will require compliance with either subparagraph (a) or (b) below, as applicable, as well as one or more of the other following subparagraphs, as
      applicable.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Transfer of Beneficial Interests in the Same Global Note</u></font>.&#160; Beneficial interests in any Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial
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    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>All Other Transfers and Exchanges of Beneficial Interests in Global Notes</u></font>. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 1.3.2(a)
          above, the transferor of such beneficial interest must deliver to the Registrar either:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
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    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(1)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">a
          written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount
          equal to the beneficial interest to be transferred or exchanged; and</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">21</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(2)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">instructions


          given by the Depositary in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase; or</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        <font style="font-family: 'Times New Roman';">both:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(1)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">a
          written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Certificated Note in an amount equal to the beneficial interest to
          be transferred or exchanged; and</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(2)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';">instructions


          given by the Depositary to the Registrar containing information regarding the Person in whose name such Certificated Note shall be registered.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in the Indenture and the Notes,
      the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 1.3.4 of this Fourth Supplemental Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.3.3</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Transfer and Exchange of Certificated Notes for Certificated Notes</u></font>.&#160; This Section 1.3.3 shall apply with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 108.9pt; font-family: 'Times New Roman'; font-size: 10pt;">Upon request by a Holder of Certificated Notes and such Holder&#8217;s compliance with the provisions of this Section 1.3.3, the Registrar will register the
      transfer or exchange of Certificated Notes. Prior to such registration of transfer or exchange, the requesting Holder must present or surrender to the Registrar the Certificated Notes duly endorsed or accompanied by a written instruction of transfer
      in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder must provide any additional certifications, documents and information, as applicable, reasonably
      required by the Registrar.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.3.4</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Cancellation and/or Adjustment of Global Notes</u></font>.&#160; This Section 1.3.4 shall apply with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">22</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 108.9pt; font-family: 'Times New Roman'; font-size: 10pt;">At such time as all beneficial interests in a particular Global Note have been exchanged for Certificated Notes or a particular Global Note has been
      redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or retained and canceled by the Trustee in accordance with Section 2.12 of the Base Indenture. At any time prior to such cancellation, if any
      beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interests in another Global Note or for Certificated Notes, the principal amount of Notes represented by such
      Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or
      transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note will be increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the
      Depositary at the direction of the Trustee to reflect such increase.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.3.5</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>General Provisions Relating to Transfers and Exchanges</u></font>.&#160; This Section 1.3.5 shall replace Section 2.7 of the Base Indenture with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">To
          permit registrations of transfers and exchanges, the Company will execute and the Trustee will authenticate Global Notes and Certificated Notes upon receipt of a Company Order in accordance with Section 2.3 of the Base Indenture.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">No
          service charge will be made to a holder of a beneficial interest in a Global Note, a Holder of a Global Note or to a Holder of a Certificated Note for any registration of transfer or exchange, but the Company may require payment of a sum
          sufficient to cover any stamp duty, stamp duty reserve tax, documentary, transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or
          transfer pursuant to Section 2.7 or Section 4.6, each of the Base Indenture).</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(c)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The


          Registrar will not be required to register the transfer of or exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(d)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">All


          Global Notes and Certificated Notes issued upon any registration of transfer or exchange of Global Notes or Certificated Notes will be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under the
          Indenture, as the Global Notes or Certificated Notes surrendered upon such registration of transfer or exchange.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(e)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Neither


          the Registrar nor the Company will be required:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">23</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 49.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">to
          issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of business 15 days before the day of any selection of Notes for redemption under Section 4.2 of the Base Indenture, as amended by this Fourth
          Supplemental Indenture, and ending at the close of business on the day of selection;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 49.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">to
          register the transfer of or to exchange any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part; or</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 49.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(c)</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">to
          register the transfer of or to exchange a Note between a record date and the next succeeding Interest Payment Date.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.3.6</font><font style="font-size: 10pt;">&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Holders</u></font>.&#160; This Section 1.3.6 shall replace Section 2.14.6 of the Base Indenture with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 108pt; font-family: 'Times New Roman'; font-size: 10pt;">Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Company may deem and treat the Person in whose
      name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of, premium, if any, and interest and Additional Amounts, if any, on such Notes and for all other purposes, and none of the Trustee, any
      Agent or the Company shall be affected by notice to the contrary.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 1.4.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Legend</u></font>. This Section 1.4 shall replace Section 2.14.3 of the Base Indenture with respect to the Notes only.&#160; </font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">The following legend will appear in substantially the following form on the face of each Global Note issued under the Indenture
        unless specifically stated otherwise in the applicable provisions of the Indenture.</font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; margin-left: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
      OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 1.3 OF THE FOURTH SUPPLEMENTAL INDENTURE, (2) THIS GLOBAL NOTE MAY BE
      EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 1.3 OF THE FOURTH SUPPLEMENTAL INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE BASE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE
      TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">24</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; margin-left: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT TO A CUSTODIAN OR A NOMINEE OF
      SUCH CUSTODIAN, BY A CUSTODIAN OR A NOMINEE OF SUCH CUSTODIAN TO A DEPOSITARY OR TO ANOTHER NOMINEE OR CUSTODIAN OF SUCH DEPOSITARY, OR BY SUCH CUSTODIAN OR DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR CUSTODIAN OR A NOMINEE THEREOF.
      ACCORDINGLY, UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (140 58<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">TH</sup> STREET, BROOKLYN, NY 11220) (&#8220;DTC&#8221;), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
      AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &amp; CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &amp; CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED
      REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &amp; CO., HAS AN INTEREST HEREIN.&#8221;</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 1.5.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Note Guarantee</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.5.1</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <u></u><font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Guarantee</u></font>. This Section 1.5.1 shall replace Section 3.1(f)(2) of the Base Indenture with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 49.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Any
          rights and benefits arising from Articles 775, 776, 777, 829, 830 and 831 (other than with respect to defenses or motions based on documented payment (<font style="font-family: 'Times New Roman'; font-style: italic;">pago</font>), reduction (<font style="font-family: 'Times New Roman'; font-style: italic;">quita</font>), extension (<font style="font-family: 'Times New Roman'; font-style: italic;">espera</font>) or release or remission (<font style="font-family: 'Times New Roman'; font-style: italic;">remisi&#243;n</font>), 1583, 1584, 1585 and 1589 (<font style="font-family: 'Times New Roman'; font-style: italic;">beneficios de excusi&#243;n y divisi&#243;n</font>), 1587, 1588, 1594, 1592, 1596, and 1598 of the Argentine Civil and
          Commercial Code;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.5.2</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">This Section 1.5.2
          supplements Section 3.1 of the Base Indenture with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">25</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 49.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(g)</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Each Subsidiary Guarantor
          fully understands it is of the essence of the Notes and the transactions contemplated hereunder that any and all payments made by any Subsidiary Guarantor under any Guaranteed Obligation is made exclusively in Dollars.&#160; Thus, each Subsidiary
          Guarantor hereby expressly, unconditionally and irrevocably waives any right (including without limitation any right under Section 765 of the Argentine Civil and Commercial Code) it may have in any jurisdiction to pay any amount under any of the
          Guaranteed Obligations in a currency other than Dollars.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 49.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(h)</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Each Subsidiary Guarantor
          irrevocably and unconditionally waives the right to invoke any defense in relation to its obligations of paying any amounts due under any of the Guaranteed Obligations, including without limitation, defenses of impossibility, impracticability,
          frustration of purpose, force majeure, act of God, the theory of unpredictability (<font style="font-family: 'Times New Roman'; font-style: italic;">teor&#237;a de la imprevisi&#243;n</font>), the sharing efforts principle (<font style="font-family: 'Times New Roman'; font-style: italic;">principio del esfuerzo compartido</font>) and any other defenses or principles of law existing as of the date hereof or established in the future, for the purpose or avoiding full and timely compliance with its
          obligations under the Guaranteed Obligations (including, without limitation, Sections 10, 955, 956, 1031, 1032, 1090, 1091, 1730, 1732 and 1733 of the Argentine Civil and Commercial Code).</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 1.6.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Amendments and Waivers</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.6.1</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <u></u><font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>With Consent of Holders</u></font>. This section 1.6.1 supplements the first paragraph of Section 10.2 of the Base Indenture with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Other


          modifications to, amendments of, and supplements to, the Indenture, the Notes or the Note Guarantees may be made with the consent of the Holders of a majority in principal amount of the then-outstanding Notes issued under the Indenture, except
          that, without the consent of each Holder affected thereby, no amendment may:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(1)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">reduce


          the premium payable upon a Change of Control Repurchase Event or, at any time after a Change of Control Repurchase Event has occurred, (i) amend, change or modify in any material respect the obligation of the Company to make and consummate a
          Change of Control Offer relating thereto, or (ii) change the time at which the Change of Control Offer relating thereto must be made or at which the Notes of such series must be repurchased pursuant to such Change of Control Offer; or</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">26</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(2)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">make


          any change to the provisions of the Indenture or the Notes of such series that adversely affects the ranking of the Notes of such series (for the avoidance of doubt, a change to the covenants detailed in Section 2.2 and Section 2.3 shall not be
          deemed to adversely affect the ranking of the Notes).</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ARTICLE II</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-variant: small-caps; font-weight: bold;">COVENANTS</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 2.1.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Change of Control</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.1.1</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Upon the occurrence of
          a Change of Control Repurchase Event, each Holder of Notes of a Series will have the right to require that the Company purchase all or a portion (in integral multiples of U.S.$1,000, <font style="font-family: 'Times New Roman';"><u>provided</u></font>
          that the remaining principal amount of such Holder&#8217;s Note shall not be less than U.S.$100,000) of the Holder&#8217;s Notes at a purchase price equal to 101% of the principal amount thereof, plus any accrued and unpaid interest thereon through the
          purchase date (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Change of Control Payment</font>&#8221;).</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.1.2</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Within 30 days
          following the date upon which the Change of Control Repurchase Event occurs, the Company must send a notice to each Holder, with a copy to the Trustee, offering to purchase the Notes as described above (a &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Change of Control Offer</font>&#8221;). The Change of Control Offer will state, among other things, the Change of Control Payment Date.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.1.3</font><font style="font-size: 10pt;">&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';">On the Business Day
          immediately preceding the Change of Control Payment Date, the Company will, to the extent lawful, deposit with the Paying Agent funds in an amount equal to the Change of Control Payment, in respect of all Notes or portions thereof so tendered.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.1.4</font><font style="font-size: 10pt;">&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';">On the Change of
          Control Payment Date, as applicable, the Company will, to the extent lawful:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">accept


          for payment all Notes or portions thereof properly tendered and not withdrawn pursuant to the Change of Control Offer; and</font></font></div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">deliver


          or cause to be delivered to the Trustee the Notes so accepted together with an Officer&#8217;s Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the Company.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">27</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.1.5</font><font style="font-size: 10pt;">&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';">If only a portion of a
          Note is purchased pursuant to a Change of Control Offer, a new Note in a principal amount equal to the portion thereof not purchased will be issued in the name of the Holder thereof upon cancellation of the original Note (or appropriate
          adjustments to the amount and beneficial interests in a Global Note will be made, as appropriate).&#160; Notes (or portions thereof) purchased pursuant to a Change of Control Offer will be cancelled and cannot be reissued.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.1.6</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Company will have
          the right to redeem all of the Notes of a Series at 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the Redemption Date (subject to the right of Holders of Notes of a Series on a relevant
          record date to receive interest on an interest payment date occurring on or prior to the Redemption Date), following the consummation of a Change of Control Repurchase Event if at least 90% of the Outstanding Notes of a Series prior to such
          consummation are purchased pursuant to a Change of Control Offer with respect to such Change of Control Repurchase Event.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.1.7</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Company will
          comply with the requirements of Rule 14e-1 under the Exchange Act and any other applicable securities laws and regulations thereunder in connection with the purchase of Notes in connection with a Change of Control Offer.&#160; To the extent that the
          provisions of any applicable securities laws or regulations conflict with this Section 2.1, the Company will comply with such securities laws and regulations and shall not be deemed to have breached its obligations under this Indenture by doing
          so.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.1.8</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Company will not
          be required to make a Change of Control Offer upon a Change of Control Repurchase Event if (i) a third party makes the Change of Control Offer in the manner, at the times and otherwise in&#160; compliance with the requirements of this Indenture
          applicable to a Change of Control Offer made by the Company and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer or (ii) prior to the date the Change of Control Offer is required to be made, the Company
          has given notice of redemption in respect of all of the Outstanding Notes in accordance with this Indenture.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.1.9</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Holders will not be
          entitled to require the Company to purchase their Notes in the event of a takeover, recapitalization, leveraged buyout or similar transaction which is not a Change of Control.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="font-size: 10pt;">
      <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 2.2.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u></u><font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Limitation on Liens</u></font>.</font></font></div>
      <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> <br>
          </font></font></div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">28</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.2.1</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Company will not,
          and will not cause or permit any of its Subsidiaries to, directly or indirectly, Incur any Liens of any kind (except for Permitted Liens) against or upon any of their respective properties or assets, whether owned on the Issue Date or acquired
          after the Issue Date, or any proceeds therefrom, to secure any Indebtedness, unless contemporaneously therewith effective provision is made to secure the Notes, the Note Guarantees and all other amounts due under this Indenture equally and
          ratably with such Indebtedness (or, in the event that such Indebtedness is subordinated in right of payment to the Notes or the Note Guarantees prior to such Indebtedness) with a Lien on the same properties and assets securing such Indebtedness
          for so long as such Indebtedness is secured by such Lien.&#160; The preceding sentence will not require the Company or any Subsidiary to equally and ratably secure the Notes if the Lien consists of a Permitted Lien.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 2.3.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Limitations on Sale and Lease-Back Transactions</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.3.1</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Company will not,
          and will not permit any of its Subsidiaries to, enter into any Sale and Lease-Back Transaction with respect to any property of such Person, unless either:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the


          Company or that Subsidiary would be entitled pursuant to Section 2.2 of this Indenture (including any exception to the restrictions set forth therein) to issue, assume or guarantee Indebtedness secured by a Lien on any such property at least
          equal in amount to the Attributable Debt with respect to such Sale and Lease-Back Transaction, without equally and ratably securing the Notes, or</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the


          Company or that Subsidiary shall apply or cause to be applied, in the case of a sale or transfer for cash, an amount equal to the net proceeds thereof and, in the case of a sale or transfer otherwise than for cash, an amount equal to the fair
          market value of the property so leased, to (1) the retirement, within 12 months after the effective date of the Sale and Lease-Back Transaction, of any of the Company&#8217;s Indebtedness ranking at least <font style="font-family: 'Times New Roman'; font-style: italic;">pari passu</font> with the Notes or Indebtedness of any Subsidiary, in each case owing to a Person other than the Company or any of its Subsidiaries or (2) to the acquisition, purchase, construction or improvement of real
          property or personal property used or to be used by the Company or any of its Subsidiaries in the ordinary course of business.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.3.2</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">These restrictions
          will not apply to:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">transactions


          providing for a lease term, including any renewal, of not more than three years; or</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">transactions


          between the Company and any of its Subsidiaries or between the Company&#8217;s Subsidiaries.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 2.4.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';"><u>[Reserved.]</u></font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">29</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 2.5.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Additional Note Guarantees</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdde47b0f3eb24e5895de60373b458fbd">

        <tr>
          <td style="width: 36pt;">&#160;</td>
          <td style="width: 36.9pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">2.5.1</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">The Company covenants and agrees that, if at any time after the date hereof, (i) any Subsidiary becomes a guarantor of Triggering Indebtedness, and (ii) such Subsidiary is not an Excluded Subsidiary,
              the Company shall, after becoming aware of such event, cause such Subsidiary (an &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Additional Subsidiary Guarantor</font>&#8221;) to become a Subsidiary Guarantor on terms
              substantially similar to other Note Guarantees, subject to modifications as determined by the Company in good faith to take into account any legal requirements or limitations applicable to such Subsidiary Guarantor (promptly following the
              determination in accordance with the terms of this Indenture that such Subsidiary is a Subsidiary Guarantor) by executing a supplemental indenture substantially in the form of <font style="font-family: 'Times New Roman';"><u>Exhibit B</u></font>
              hereto and providing the Trustee with an Officer&#8217;s Certificate and Opinion of Counsel, in each case within 60 Business Days of such event, and to comply in all respects with the provisions of this Indenture and the Notes, as applicable; <font style="font-family: 'Times New Roman';"><u>provided</u></font>, however, that each Additional Subsidiary Guarantor will be automatically and unconditionally released and discharged from its obligations under such additional note guarantee
              (&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Additional Note Guarantee</font>&#8221;) only in accordance with Section 1.5; and <font style="font-family: 'Times New Roman';"><u>provided</u></font>&#160;<font style="font-family: 'Times New Roman';"><u>further</u></font><font style="font-family: 'Times New Roman'; font-style: italic;">&#160;</font>that no Officer&#8217;s Certificate shall be required solely pursuant to this 2.5.1 on the Issue Date.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze454e2b8c74e448c9e5b4ecd51577ebf">

        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">2.5.2</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">The Company shall notify, in accordance with Section 11.1 of the Base Indenture, the Holders of any execution of a supplemental indenture pursuant to and in accordance with Section 2.5; <font style="font-family: 'Times New Roman';"><u>provided</u></font><font style="font-family: 'Times New Roman'; font-style: italic;">&#160;</font>that no notice shall be required solely pursuant to this Section 2.5.2 as a result of the execution of
              any supplemental indenture pursuant to and in accordance with Section 2.5.1 on the Issue Date.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze9295734b1e9402c8e0c3011c302242a">

        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">2.5.3</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">If a Subsidiary ceases to be an Excluded Subsidiary and still guarantees any Triggering Indebtedness, then the Company shall promptly cause such Subsidiary to become a Subsidiary Guarantor by
              executing a supplemental indenture.&#160; Further, to the extent a Subsidiary Guarantor becomes an Excluded Subsidiary, the Note Guarantee of such Subsidiary Guarantor shall be released pursuant to Section 1.5.4.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7b57ed59f0454e98be50d75ee5569a3c">

        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">2.5.4</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Other than as set forth herein or in any supplemental indenture, the Company shall have the right to designate, in its sole discretion, any Subsidiary as a Subsidiary Guarantor of the Notes as set
              forth in the Base Indenture. For the avoidance of doubt, the Company shall have the right to release any Subsidiary Guarantor of the Notes pursuant to Section 3.4 of the Base Indenture.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">30</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 2.6.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">[Reserved].</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 2.7.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Additional Amounts</u></font>. This Section 2.7 supplements Section 5.4 of the Base Indenture with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4b9f307297384c799144a3f012f2f8c9">

        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">2.7.1</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">All payments made by the Company or on its behalf in respect of the Notes will be made free and clear of and without withholding or deduction for or on account of any present or future taxes, duties,
              levies, imposts, assessments or governmental charges of whatever nature (each, a &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Tax</font>&#8221;), unless the withholding or deduction of such Tax is required by law or by
              official interpretation or administration thereof.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zad8ff909d56a47aeb4e1177d039d8a33">

        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">2.7.2</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">If the Company is obligated by law of any jurisdiction where a Subsidiary Guarantor is incorporated, resident or doing business for tax purposes or from or through which any such payment is made or
              any political subdivision thereof (each, a &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Relevant Jurisdiction</font>&#8221;), or by any taxing authority of a Relevant Jurisdiction to deduct any withholding Taxes from payments
              of interest to investors (or if a Subsidiary Guarantor is obligated to deduct any withholding Taxes from payments made under a Subsidiary Guarantee) we will (or, with respect to a Subsidiary Guarantee, such Subsidiary Guarantor will) pay such
              additional amounts (&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Additional Amounts</font>&#8221;) as may be necessary so that the net amount received by such Holder, after withholding or deduction for or on account of such
              Taxes, will be equal to the amount such Holder would have received in the absence of such withholding or deduction.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1d3b6ddf57fd4f95b413a240d468c182">

        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">2.7.3</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">The Company, and each Subsidiary Guarantor, as applicable, will not be required to pay Additional Amounts to any Holder for or on account of any of the following:</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf54566b8bbbb4f40a5bf50320c32458d">

        <tr>
          <td style="width: 74pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.7.3.1.</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';"> any Taxes that would not have been imposed but for any present or former connection between the Holder (or a fiduciary, settlor, beneficiary, member or shareholder of the Holder) and the Relevant
              Jurisdiction (other than the mere receipt of a payment or the ownership or holding of a Note), including being a resident of such jurisdiction for tax purposes;</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze6c1e6d25c2a4949a48a9d859d27c8b4">

        <tr>
          <td style="width: 74pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.7.3.2.</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';"> any estate, inheritance, capital gains, excise, personal property tax, sales, transfer, gift or similar Taxes;</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">31</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf3c2a8a5bcc94321b9c72b811b62394d">

        <tr>
          <td style="width: 74pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.7.3.3.</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">any Taxes that would not have been imposed but for the failure of the Holder or any other Person to comply with any certification, identification or other reporting requirement concerning the
              nationality, residence, identity or connection with the Relevant Jurisdiction, for tax purposes, of the Holder or any beneficial owner of the Note if compliance is required by law, regulation or by an applicable income tax treaty to which the
              Relevant Jurisdiction is a party, as a precondition to exemption from, or reduction in the rate of, the Tax (including withholding taxes payable on interest payments under the Notes) and the Company has given the Holders at least 30 days&#8217;
              notice that Holders will be required to provide such certification, identification or information;</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1144dcb46dec4c0ab329c9dad6b784c1">

        <tr>
          <td style="width: 74pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.7.3.4.</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">any Taxes payable otherwise than by deduction or withholding from payments on or in respect of the Notes;</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf9c894ccc46c48bbb8cca6c4e9f9d2d3">

        <tr>
          <td style="width: 74pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.7.3.5.</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">any Taxes with respect to a Note presented for payment, where presentation is required, more than 30 days after the date on which the payment became due and payable or the date on which payment
              thereof is duly provided for, whichever occurs later, except to the extent that the Holder of such Note would have been entitled to such Additional Amounts on presenting such Note for payment on any date during such 30-day period;</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z25768621eb01462fa243f80655e40dd0">

        <tr>
          <td style="width: 74pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.7.3.6.</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">any Taxes required to be withheld by any paying agent of the Company from any payment of the principal of, or premium or interest on any Note, if such Taxes result from the presentation of any Note
              for payment and the payment can be made without such withholding or deduction by the presentation of the Note for payment by at least one other reasonably available paying agent of the Company;</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7a626b64a3cd4562a34df5893f081807">

        <tr>
          <td style="width: 74pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.7.3.7.</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">any Taxes imposed by the United States, any state thereof, the District of Columbia or any political subdivision of the foregoing;</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf96bbba9bd3a45049944597ed95caa61">

        <tr>
          <td style="width: 74pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.7.3.8.</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">any Taxes imposed under Sections 1471 through 1474 of the United States Internal Revenue Code (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Code</font>&#8221;) (or any amended or
              successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code
              and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among governmental authorities and implementing such Sections of the Code;</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">32</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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        <tr>
          <td style="width: 74pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.7.3.9.</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">any payment on the Note to a Holder that is a fiduciary, a partnership, a limited liability company or a person other than the sole beneficial owner of any such payment, to the extent that a
              beneficiary or settlor with respect to such fiduciary, a member of such a partnership, an interest holder in such a limited liability company or the beneficial owner of the payment would not have been entitled to the Additional Amounts had
              the beneficiary, settlor, member or beneficial owner been the Holder of the Note; or</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb77dbd47591049558af020625f6f76db">

        <tr>
          <td style="width: 74pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.7.3.10.</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">in the case of any combination of the items listed above.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5df6c213b14244db9c377c81bcba7b6b">

        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">2.7.4</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">The Company will provide the Trustee with documentation reasonably satisfactory to the Trustee evidencing the payment of taxes in respect of which the Company has paid any Additional Amount.&#160; Copies
              of such documentation will be made reasonably available to the Holders of the Notes or the relevant paying agent upon request.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6b1af432b27d44c691ca31a77304da67">

        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 36.9pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">2.7.5</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Whenever in this Indenture or the Notes there is mentioned, in any context, the payment of amounts based upon the principal amount of the Notes or of principal, premium, interest or of any other
              amount payable in respect of the Notes by the Company, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in respect
              thereof.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ARTICLE III</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-variant: small-caps; font-weight: bold;">Defaults and remedies</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 3.1.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">This Section
          3.1 replaces Section 7.1(a)(4) of the Base Indenture with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">(4) default by the Company or any Significant Subsidiary under any Indebtedness for borrowed money which:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(A)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">is caused by a failure to
          pay principal of or premium, if any, or interest on such indebtedness for borrowed money prior to the expirations of any applicable grace period provided in such indebtedness for borrowed money on the date of such default; or</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; margin-left: 72pt;">(B)&#160;&#160;&#160;&#160;&#160;&#160; results in the acceleration of such indebtedness for borrowed money prior to its Stated Maturity;</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">33</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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    <div style="text-align: left; text-indent: 36pt; margin-left: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">and the principal or accreted amount of indebtedness for borrowed money covered by clause (A) or (B) at the relevant time aggregates
      U.S.$150 million (or the equivalent in other currencies) or more.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 3.2.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">This Section
          3.2 replaces Section 7.1(a)(5) of the Base Indenture with respect to the Notes only.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; margin-left: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">(5) failure by the Company or any of its Significant Subsidiaries to pay one or more final judgments against any of them, aggregating U.S.$150 million
      (or the equivalent in other currencies) or more, which are not paid, discharged or stayed for a period of 90 days or more (to the extent not covered by a reputable and creditworthy insurance company).</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ARTICLE IV</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-variant: small-caps; font-weight: bold;">MISCELLANEOUS</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 4.1.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Definitions</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Capitalized terms used but not defined in this Fourth Supplemental Indenture shall have the meanings ascribed thereto in the Base Indenture. Unless
      otherwise stated or the context otherwise requires, all Section references in this Supplemental Indenture shall be to the corresponding Sections herein.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 4.2.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Confirmation of Indenture</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The Base Indenture, as supplemented and amended by this Fourth Supplemental Indenture, is in all respects ratified and confirmed, and the Base Indenture,
      this Fourth Supplemental Indenture and any applicable indentures supplemental thereto shall be read, taken and construed as one and the same instrument with respect to the Notes.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 4.3.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Governing Law</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">THIS FOURTH SUPPLEMENTAL INDENTURE, THE NOTES AND THE NOTE GUARANTEES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING
      TO THIS FOURTH SUPPLEMENTAL INDENTURE, THE NOTES OR THE NOTE GUARANTEES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE
      STATE OF NEW YORK.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">34</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 4.4.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Severability</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In case any provision in this Fourth Supplemental Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and
      enforceability of the remaining provisions shall not in any way be affected or impaired thereby.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 4.5.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Counterparts</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">This Fourth Supplemental Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when
      so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page of this Fourth Supplemental Indenture by facsimile or in electronic
      format shall be effective as delivery of a manually executed counterpart of this Fourth Supplemental Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Section 4.6.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>No Benefit</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Nothing in this Fourth Supplemental Indenture, express or implied, shall give to any Person other than the parties hereto and their successors or
      assigns, and the Holders of the Notes, any benefit or legal or equitable rights, remedy or claim under this Fourth Supplemental Indenture or the Base Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
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      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-1</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">IN WITNESS WHEREOF, the Company has caused this instrument to be signed in accordance with the Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Date: [&#160;&#160; ]</div>
    <div style="font-size: 10pt;">&#160;</div>
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        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td colspan="2" style="vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold;">MERCADOLIBRE, INC.</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td rowspan="1" colspan="2" style="vertical-align: top; font-size: 10pt;">&#160;</td>
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        <tr>
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          <td style="width: 3%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">By:</div>
          </td>
          <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 47%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Name:</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 47%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Title:</div>
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    <div style="font-size: 10pt;"><br>
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    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-2</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CERTIFICATE OF AUTHENTICATION</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">This is one of the $ [<font style="font-family: 'Times New Roman';">&#8226;</font>]% Notes due 20[<font style="font-family: 'Times New Roman';">&#8226;</font>]
      issued by MercadoLibre, Inc. of the Series designated therein referred to in the within-mentioned Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Date: [&#160;&#160; ]</div>
    <div style="font-size: 10pt;">&#160;</div>
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        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">THE BANK OF NEW YORK MELLON <br>
            </div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td rowspan="1" style="width: 3%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td rowspan="1" style="width: 47%; vertical-align: top; font-size: 10pt;">as Trustee</td>
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        <tr>
          <td rowspan="1" colspan="1" style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td rowspan="1" style="width: 3%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td rowspan="1" style="width: 47%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">By:</div>
          </td>
          <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 47%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Authorized Signatory</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-3</font></div>
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    </div>
    <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">EXHIBIT A</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">MercadoLibre, Inc.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">$ [<font style="font-family: 'Times New Roman';">&#8226;</font>]% Notes due 20[<font style="font-family: 'Times New Roman';">&#8226;</font>]</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">This note is one of a duly authorized Series of debt securities of MercadoLibre, Inc., a Delaware corporation (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Company</font>&#8221;), issued or to be issued in one or more Series under and pursuant to an Indenture for the Company&#8217;s debentures, notes or other debt instruments evidencing its indebtedness, dated as of January 14, 2021
      (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Base Indenture</font>&#8221;), duly executed and delivered by and between the Company, the Subsidiary Guarantors and The Bank of New York Mellon as trustee (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Trustee</font>&#8221;), registrar, paying agent and transfer agent, as supplemented and amended by the Fourth Supplemental Indenture, dated as of December 9, 2025 (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Fourth Supplemental Indenture</font>&#8221;), by and among the Company, the Subsidiary Guarantors (as defined therein) and the Trustee. The Base Indenture as supplemented and amended by the Fourth Supplemental
      Indenture is referred to herein as the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Indenture.</font>&#8221; By the terms of the Base Indenture, the debt securities issuable thereunder are issuable in Series that may vary as to
      amount, date of maturity, rate of interest and in other respects as provided in the Base Indenture. This note is one of the Series designated on the face hereof (individually, a &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Note,</font>&#8221;
      and collectively, the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Notes</font>&#8221;), and reference is hereby made to the Indenture for a description of the rights, limitations of rights, obligations, duties and immunities of the
      Trustee, the Company and the Holders of the Notes (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Holders</font>&#8221;). Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Interest</u></font>.&#160; Interest on the Notes will accrue at the rate of [<font style="font-family: 'Times New Roman';">&#8226;</font>]% per year, and shall be payable semi-annually in arrears on [<font style="font-family: 'Times New Roman';">&#8226;</font>] and [<font style="font-family: 'Times New Roman';">&#8226;</font>] of each year, commencing on [<font style="font-family: 'Times New Roman';">&#8226;</font>], 2026. Payments shall be made to the persons who
          are registered Holders at the close of business on the [<font style="font-family: 'Times New Roman';">&#8226;</font>] and [<font style="font-family: 'Times New Roman';">&#8226;</font>], as the case may be, immediately preceding the applicable Interest
          Payment Date (whether or not a Business Day) and at maturity. Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including the Issue Date. Interest will be
          computed on the basis of a 360-day year comprised of twelve 30-day months.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-4</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Method of Payment</u></font>.&#160; The Company will pay interest on the Notes (except defaulted interest), if any, to the persons in whose name such Notes are registered at the close of business on the
          regular record date referred to on the facing page of this Note for such interest payment. In the event that the Notes or a portion thereof are called for redemption and the Redemption Date is subsequent to a regular record date with respect to
          any Interest Payment Date and prior to such Interest Payment Date, interest on such Notes will be paid upon presentation and surrender of such Notes as provided in the Indenture. The principal of and the interest on the Notes shall be payable in
          U.S. Dollars, at the office of the Paying Agent maintained for that purpose in accordance with the Indenture, or at the Company&#8217;s option, by check mailed to the address of the registered Holder or, with respect to any Global Note or upon
          application by the Holder of a Certificated Note to the specified office of any Paying Agent not less than 15 days before the due date of any payment, by wire transfer to a U.S. dollar account.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">3.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Registrar, Paying Agent, and Transfer Agent</u></font>.&#160; Initially, The Bank of New York Mellon will act as Registrar; the initial Paying Agent will be The Bank of New York Mellon, in New York; the
          initial Transfer Agent will be The Bank of New York Mellon, in New York. The Company may change or appoint any Registrar, Paying Agent or Transfer Agent without notice to any Holder.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">4.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Indenture</u></font>.&#160; The Notes are senior unsecured obligations of the Company and constitute the Series designated on the face hereof as the &#8220;$<font style="font-family: 'Times New Roman'; font-style: italic;">[&#8226;]%Notes due 20[&#8226;]</font>&#8221;, initially limited to $[<font style="font-family: 'Times New Roman';">&#8226;</font>] in aggregate principal amount. The Company will furnish to any Holders upon written request and without charge a
          copy of the Base Indenture and the Fourth Supplemental Indenture. Requests may be made to: MercadoLibre Inc., Dr. Luis Bonavita 1294, Of. 1733, Tower II, Montevideo, Uruguay, 11300, Attention: General Counsel.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">5.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Optional Redemption</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman'; font-style: italic;">Optional Redemption with a Make-Whole Premium</font>. At the Company&#8217;s option, the Notes may be redeemed or purchased, in each case, in whole or in part at any time or from time to
          time prior to the Stated Maturity of the Notes, as provided in Article IV of the Base Indenture, Section 1.2 of the Fourth Supplemental Indenture and in this Section 5.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-5</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    <div style="text-align: left; text-indent: 58.5pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160; Prior to [<font style="font-family: 'Times New Roman';">&#8226;</font>], 20[<font style="font-family: 'Times New Roman';">&#8226;</font>] ([<font style="font-family: 'Times New Roman';">&#8226;</font>] month[s] prior to their Maturity Date) (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Par Call Date</font>&#8221;), the Company may redeem the Notes at its option, in whole or in
      part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">&#160;&#160; (i)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">100% of the principal amount of the Notes to be redeemed, and</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">&#160;&#160; (ii)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year
          consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, less (b) interest accrued to the date of redemption,</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">plus, in either case, accrued and unpaid interest on the Notes being redeemed to, but excluding, the redemption date.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">On or after the Par Call Date, the Company may redeem the Notes, in whole or in part, at any time and from time to time, at a
      redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to the redemption date.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Treasury Rate</font>&#8221; means, with respect to any redemption date,
      the yield determined by the Company in accordance with the following two paragraphs.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-6</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The Treasury Rate shall be determined by the Company or the Company&#8217;s designee (which will not be the Trustee) after 4:15 p.m., New
      York City time (or after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third business day preceding the redemption date based upon the yield or yields for the most
      recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as &#8220;Selected Interest Rates (Daily) - H.15&#8221; (or any successor designation or
      publication) (&#8220;H.15&#8221;) under the caption &#8220;U.S. government securities&#8211;Treasury constant maturities&#8211;Nominal&#8221; (or any successor caption or heading) (&#8220;H.15 TCM&#8221;). In determining the Treasury Rate, the Company shall select, as applicable: (1) the yield for
      the Treasury constant maturity on H.15 exactly equal to the period from the redemption date to the Par Call Date (the &#8220;Remaining Life&#8221;); or (2) if there is no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two yields
      &#8211; one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the Remaining Life &#8211; and shall interpolate to the Par Call Date
      on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for
      the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of
      months or years, as applicable, of such Treasury constant maturity from the redemption date.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">If on the third business day preceding the redemption date H.15 TCM is no longer published, the Company shall calculate the Treasury
      Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such redemption date of the United States Treasury security maturing on, or with a maturity
      that is closest to, the Par Call Date, as applicable.&#160; If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally distant from the Par Call
      Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the Par Call Date. If there are two or
      more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two or more United States Treasury
      securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time.&#160; In determining the Treasury Rate in
      accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal amount) at 11:00
      a.m., New York City time, of such United States Treasury security, and rounded to three decimal places.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-7</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; margin-left: 36pt; text-indent: 36pt;">Calculation of the foregoing will be made by the Company or on the Company&#8217;s behalf by such Person as the Company shall designate;
      provided, however, that such calculation shall not be a duty or obligation of the Trustee. The Company&#8217;s actions and determinations in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Optional Redemption Upon Tax Event</u></font>.&#160; If the Company determines that, as a result of any amendment to, or change in, the laws or treaties (or any rules or regulations, or if applicable,
          rulings promulgated thereunder) of any Relevant Jurisdiction, any taxing authority thereof or therein affecting taxation, or any amendment to, or change in an official interpretation or application (including judicial or administrative
          interpretation or application, as applicable) of such laws, treaties, rules, regulations or rulings, which amendment to, or change in such laws, treaties, rules, regulations or rulings is legislated or promulgated or, in the case of a change in
          official interpretation or application (including judicial or administrative interpretation or application, as applicable), is announced or otherwise made available on or after the later of the Issue Date and the date a Relevant Jurisdiction
          becomes a Relevant Jurisdiction, the Company or a Subsidiary Guarantor would be obligated, to pay any Additional Amounts, <font style="font-family: 'Times New Roman';"><u>provided</u></font> that the Company, in its business judgment, determines
          that such obligation cannot be avoided by the Company taking reasonable measures available to it, including, without limitation, taking reasonable measures to change the Paying Agent, then, at the Company&#8217;s option, all, but not less than all, of
          the Notes may be redeemed at any time at a redemption price equal to 100% of the outstanding principal amount, plus any accrued and unpaid interest to the Redemption Date due thereon up to but not including the Redemption Date; <font style="font-family: 'Times New Roman';"><u>provided</u></font> that (1) no notice of redemption for tax reasons may be given earlier than 90 days prior to the earliest date on which the Company (or a Subsidiary Guarantor) would be obligated to
          pay these Additional Amounts if a payment on the Notes were then due, and (2) at the time such notice of redemption is given such obligation to pay such Additional Amounts remains in effect.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-8</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 58.5pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160; Prior to the giving of any notice of redemption pursuant to this provision, the Company will deliver to the Trustee:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">&#160;&#160; (i)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">an Officer&#8217;s Certificate stating that the Company is entitled to effect the redemption and setting forth a statement of facts showing that the conditions precedent to the Company&#8217;s right to redeem have occurred; and</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">&#160;&#160; (ii)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">an Opinion of Counsel from legal counsel in a Relevant Jurisdiction (which may be the Company&#8217;s counsel) of recognized standing to the effect that the Company has or will become obligated to pay such Additional Amounts as a result of
          such change or amendment.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(c)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Redemption at Par</u></font>.&#160; The Notes will be redeemable, at any time and from time to time, in whole or in part, at the Company&#8217;s option beginning on the Par Call Date, at a redemption price equal
          to 100% of the outstanding principal amount of the Notes to be redeemed, plus accrued and unpaid interest on the principal amount of the Notes being redeemed to, but not including, the Redemption Date.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Notwithstanding the foregoing, payments of interest on the Notes that are due and payable on or prior to a date fixed for redemption
      of the Notes shall be payable to the Holders of those Notes registered as such at the close of business on the relevant record dates according to the terms and provisions of the Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(d)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Optional Redemption Procedures</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">&#160;&#160; (i)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Notice of any redemption shall be sent in the manner provided for in Section 11.1 of the Base Indenture at least 10 but not more than 30 days before the Redemption Date to Holders of Notes to be redeemed.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-9</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">&#160;&#160; (ii)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">The Company may make any redemption or redemption notice subject to the satisfaction of conditions precedent. If such redemption or notice is subject to the satisfaction of one or more conditions precedent, such notice shall state that,
          in the Company&#8217;s discretion, the Redemption Date may be delayed until such time (but no more than 60 days after the date of the notice of redemption) as any or all such conditions shall be satisfied, or such redemption may not occur and such
          notice may be rescinded in the event that any or all such conditions shall not have been satisfied by the redemption date, or by the redemption date as so delayed. In addition, the Company may provide in such notice that payment of the redemption
          price and performance of the Company&#8217;s obligations with respect to such redemption may be performed by another person.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">&#160;&#160; (iii)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Notes called for redemption will become due on the date fixed for redemption. The Company will pay the redemption price for the Notes called for redemption including accrued and unpaid interest thereon to but not including the Redemption
          Date. On and after the Redemption Date, interest will cease to accrue on such Notes as long as the Company has deposited with the paying agent funds in satisfaction of the applicable redemption price including accrued and unpaid interest thereon
          pursuant to the Indenture. Upon redemption of the Notes by the Company, the redeemed Notes will be cancelled and cannot be reissued.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">&#160;&#160; (iv)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">If fewer than all of the Notes are being redeemed, the Notes to be redeemed shall be selected as follows: (1) if the Notes are listed on an exchange, in compliance with the requirements of such exchange, (2) if the Notes are not so
          listed but are in global form, then by lot or otherwise in accordance with the procedures of DTC or the applicable depositary or (3) if the Notes are not so listed and are not in global form, on a pro rata basis to the extent practicable, or, if
          the pro rata basis is not practicable for any reason, by lot or by such other method as the Trustee in its sole discretion shall deem fair and appropriate; <font style="font-family: 'Times New Roman';"><u>provided</u></font> that the remaining
          principal amount of such Holder&#8217;s Note will not be less than U.S.$100,000. Upon surrender of any Note redeemed in part, the Holder will receive a new Note equal in principal amount to the unredeemed portion of the surrendered Note. Once notice of
          redemption is sent to the Holders, Notes called for redemption become due and payable at the redemption price on the Redemption Date, and, commencing on the Redemption Date, Notes redeemed will cease to accrue interest (unless the Company
          defaults in the payment of the redemption price).</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-10</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">6.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Mandatory Repurchase Provisions</u></font>.&#160; Upon the occurrence of a Change of Control Repurchase Event, each Holder of Notes will have the right to require that the Company purchase all or a portion
          (in integral multiples of U.S.$1,000, <font style="font-family: 'Times New Roman';"><u>provided</u></font> that the remaining principal amount of such Holder&#8217;s Note will not be less than U.S.$100,000) of the Holder&#8217;s Notes at a purchase price
          equal to 101% of the principal amount thereof, plus any accrued and unpaid interest thereon through the Change of Control Payment.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 72pt;">The Company will have the right to redeem all of the Notes at 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not
      including, the Redemption Date (subject to the right of Holders of Notes on a relevant record date to receive interest on an interest payment date occurring on or prior to the Redemption Date), following the consummation of a Change of Control
      Repurchase Event if at least 90% of the Outstanding Notes prior to such consummation are purchased pursuant to a Change of Control Offer with respect to such Change of Control Repurchase Event.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 72pt;">Within 30 days following the date upon which the Change of Control Repurchase Event occurs, the Company must make a Change of Control Offer pursuant to a
      Change of Control Notice.&#160; As more fully described in the Indenture, the Change of Control Notice shall state, among other things, the Change of Control Payment Date, which must be at least 30 days but not more than 60 days from the date the notice
      is given, other than as may be required by applicable law.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">7.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Denominations, Transfer, Exchange</u></font>.&#160; The Notes are in registered form in minimum denominations of U.S.$50,000 and integral multiples of U.S.$1,000 in excess thereof. The transfer of Notes may
          be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay
          any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in
          part. Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the next succeeding Interest Payment Date.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-11</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">8.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Persons Deemed Owners</u></font>.&#160; The registered Holder of a Note may be treated as the owner of it for all purposes. Only registered Holders have rights under the Indenture.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">9.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Repayment to the Company</u></font>.&#160; The Trustee and the Paying Agent shall promptly pay to the Company upon written request any excess money or Government Obligations (or proceeds therefrom) held by
          them at any time upon the written request of the Company.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Subject to the requirements of any applicable abandoned property laws, the Trustee and the Paying Agent shall pay to the Company upon written request any
      money held by them for the payment of principal, premium (if any), interest or any Additional Amounts that remains unclaimed for two years after the date upon which such payment shall have become due. After payment to the Company, Holders entitled to
      the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another Person, and all liability of the Trustee and the Paying Agent with respect to such money shall cease.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">10.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Amendment, Supplements and Waivers</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Subject


          to certain exceptions set forth in the Indenture, without the consent of any Holder, the Company, the Subsidiary Guarantors and the Trustee may, among other things, amend or supplement the Indenture, the Note Guarantees or the Notes to cure any
          ambiguity, omission, defect or inconsistency; to provide for the assumption by a Surviving Entity of the obligations of the Company or a Subsidiary Guarantor under the Indenture; to add Note Guarantees or additional guarantees with respect to the
          Notes or release a Note Guarantee in accordance with the terms of the Indenture; to secure the Notes; to add to the covenants of the Company for the benefit of the Holders or to surrender any right or power thereby conferred upon the Company; to
          provide for the issuance of Additional Notes; to conform the text of the Indenture, the Note Guarantees or the Notes to any provision of the Prospectus; to evidence the replacement of the Trustee as provided for under the Indenture; if necessary,
          in connection with any release of any security permitted under the Indenture; to provide for uncertificated Notes in addition to or in place of certificated Notes; or to make any other changes which do not adversely affect the rights of any of
          the Holders in any material respect.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-12</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Subject


          to certain exceptions set forth in the Indenture, (i) the Indenture, the Notes or the Note Guarantees may be amended or supplemented with the written consent of the Holders of at least a majority in principal amount of the then Outstanding Notes
          and (ii) any Default or Event of Default and its consequences under the Indenture (other than regarding a Default or Event of Default in the payment of the principal of, premium, if any, or interest or Additional Amounts, if any, on the Notes,
          except a payment Default resulting from an acceleration that has been rescinded) or compliance with any provision of, the Indenture, or the Notes, or the Notes Guarantees may be waived with the written consent of the Holders of a majority in
          principal amount of the then Outstanding Notes, except that, without the consent of each Holder affected thereby, no amendment may (with respect to any Notes held by a non-consenting Holder of Notes):reduce the percentage of the principal amount
          of the outstanding Notes whose Holders must consent to an amendment, supplement or waiver; reduce the rate of or change or have the effect of changing the time for payment of interest on any Notes; change any place of payment where the principal
          of or interest on the Notes is payable; reduce the principal of or change or have the effect of changing the fixed maturity of any Notes, or change the date on which any Notes may be subject to redemption, or reduce the redemption price therefor;
          make any Notes payable in money other than that stated in the Notes; make any change in the provisions of the Indenture entitling each Holder to receive payment of principal of, premium, if any, and interest on the Notes on or after the due date
          thereof or to bring suit to enforce such payment, or permitting Holders of a majority in principal amount of outstanding Notes to waive Defaults or Events of Default; reduce the premium payable upon a Change of Control Repurchase Event or, at any
          time after a Change of Control Repurchase Event has occurred, (i) amend, change or modify in any material respect the obligation of the Company to make and consummate a Change of Control Offer relating thereto or (ii) change the time at which the
          Change of Control Offer relating thereto must be made or at which the Notes must be repurchased pursuant to such Change of Control Offer; eliminate or modify in any manner a Subsidiary Guarantor&#8217;s obligations with respect to its Note Guarantee
          which adversely affects Holders in any material respect, except as contemplated in the Indenture; make any change in the Additional Amounts provisions of the Indenture that adversely affects the rights of any Holder or amend the terms of the
          Notes in a way that would result in a loss of exemption from any applicable taxes; or make any change to the provisions of the Indenture or the Notes that adversely affects the ranking of the Notes (for the avoidance of doubt, a change to the
          covenants described in <font style="font-family: 'Times New Roman';"><u>Section 2.2</u></font> and <font style="font-family: 'Times New Roman';"><u>Section 2.3</u></font> of the Fourth Supplemental Indenture shall not be deemed to adversely
          affect the ranking of the Notes).</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-13</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">11.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Defaults and Remedies</u></font>.&#160; If an Event of Default for the Company&#8217;s Notes occurs and is continuing (other than an Event of Default referred to in Section 7.1(a)(6) of the Base Indenture), the
          Trustee or the Holders of at least 25% in principal amount of the outstanding Notes may declare the unpaid principal of and premium, if any, and accrued and unpaid interest on all such Notes to be immediately due and payable by notice in writing
          to the Company (if given by the Trustee or the Holders) and the Trustee (if given by the Holders) specifying the Event of Default and that it is a &#8220;notice of acceleration&#8221;. If an Event of Default referred to in Section 7.l(a)(6) of the Base
          Indenture occurs with respect to the Company the then unpaid principal of and premium, if any and accrued and unpaid interest on the Company&#8217;s Notes will become immediately due and payable without any declaration or other act on the part of the
          Trustee or any Holder.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">12.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Trustee May Hold Notes</u></font>.&#160; The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any of its Affiliates with
          the same rights it would have if it were not Trustee. Any Agent may do the same with like rights and duties. However, the Trustee is subject to Section 8.10 and Section 8.11 of the Base Indenture.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">13.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>No Personal Liability of Directors, Officers, Employees and Certain Others</u></font>.&#160; No director, officer, employee, incorporator or similar founder, stockholder or member of the Company or any
          Subsidiary Guarantor will have any liability for or any obligations of the Company or any Subsidiary Guarantor under the Indenture or the Notes, or the Note Guarantee or for any claims based on, in respect of or by reason of, such obligations or
          their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the U.S.
          federal securities laws or under corporate law of the State of Delaware.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-14</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">14.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Discharge of Indenture</u></font>.&#160; The Indenture contains certain provisions pertaining to discharge and defeasance, which provisions shall for all purposes have the same effect as if set forth
          herein.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">15.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Authentication</u></font>.&#160; This Note shall not be valid until the Trustee signs, by manual, facsimile or electronic signature, the certificate of authentication attached to the other side of this
          Note.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">16.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Additional Amounts</u></font>.&#160; The Company is obligated to pay Additional Amounts on this Note to the extent provided in the Indenture.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">17.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Abbreviations</u></font>.&#160; Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM(= tenants in common), TEN ENT(= tenants by the entireties), JT TEN (= joint
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    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Governing Law</u></font><font style="font-size: 10pt;">.&#160; <font style="font-family: 'Times New Roman'; font-weight: bold;">THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE, THE NOTES OR THE NOTE GUARANTEES, SHALL BE GOVERNED BY THE LAWS OF THE STATE
          OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-15</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ASSIGNMENT FORM</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="font-size: 10pt;">
      <table cellspacing="0" cellpadding="0" border="0" id="z86e5b3127c2642ea91ed61bd4f1eadbc" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 25%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 75%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 25%;">
              <div style="margin-left: 9pt">
                <div style="margin-left: 9pt">(Insert assignee&#8217;s legal name)</div>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div style="font-size: 10pt;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zcce1a993bee64a7bae9e7d725a08998f">

        <tr>
          <td style="width: 100%; vertical-align: top; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman';">(Insert assignee&#8217;s soc. Sec. or tax I.D. no.)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 100%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 100%; vertical-align: top; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 100%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 100%; vertical-align: top; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 100%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman';">(Print or type assignee&#8217;s name, address and zip code)</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: left; font-size: 10pt;">and irrevocably appoint ____________________________________________________ agent to transfer this Note on the books of the Company. The agent may substitute another to act for him.<br>
      <table cellspacing="0" cellpadding="0" border="0" id="z6310c274b75b4cecbe5aaa1a4d57aad6" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 100%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
            </td>
          </tr>

      </table>
      <br>
    </div>
    <div style="font-size: 10pt;">
      <table cellspacing="0" cellpadding="0" border="0" id="zd5350d58f4a54273b0f1d4f4d5340691" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 5%; padding-bottom: 2px;">Date:</td>
            <td style="width: 10%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 30%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 20%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 35%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 70%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; padding-bottom: 2px;">Your Signature:</td>
            <td style="width: 20%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
            </td>
          </tr>
          <tr>
            <td style="width: 70%;"><br>
            </td>
            <td colspan="2" rowspan="1">(Sign exactly as your name appears on the face of this Note)</td>
          </tr>

      </table>
    </div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-16</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div>
      <div style="font-family: 'Times New Roman';">
        <table cellspacing="0" cellpadding="0" border="0" id="zf5e955061ae544e798f6d18f14df8719" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 20%;">
                <div style="font-family: 'Times New Roman';">Signature&#160; Guarantee: </div>
              </td>
              <td style="width: 20%;"><br>
              </td>
              <td colspan="1" style="width: 60%;">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 20%; padding-bottom: 2px;">&#160;</td>
              <td rowspan="1" style="width: 20%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
              </td>
              <td rowspan="1" colspan="1" style="width: 60%; padding-bottom: 2px;">&#160;</td>
            </tr>

        </table>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="zda56bad762f1432e8214d90e3223d053" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 15%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 12%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 73%; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 15%;">&#160;</td>
            <td colspan="2" rowspan="1">
              <div>(Signature must be guaranteed</div>
              <div> by a participant in a recognized</div>
              <div> Signature Guarantee Medallion </div>
              <div>Program (or other signature </div>
              <div>guarantor acceptable to the </div>
              <div>Trustee))</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: left; text-indent: -108pt; margin-right: 171pt; margin-left: 108pt; font-family: 'Times New Roman'; font-size: 10pt;"><br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">SCHEDULE OF INCREASES AND DECREASES IN THE GLOBAL NOTE</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The following increases and decreases in this Global Note have been made:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zeab845d90e2242de91fdf185773c11c7">

        <tr>
          <td nowrap="nowrap" style="width: 19.99%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Date of </div>
            <div style="text-align: left; font-family: 'Times New Roman';">Increase or</div>
            <div style="text-align: left; font-family: 'Times New Roman';"> <u><font style="font-family: 'Times New Roman';">Decrease</font></u></div>
          </td>
          <td nowrap="nowrap" style="width: 19.97%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Amount of </div>
            <div style="text-align: left; font-family: 'Times New Roman';">decrease in </div>
            <div style="text-align: left; font-family: 'Times New Roman';">Principal </div>
            <div style="text-align: left; font-family: 'Times New Roman';">Amount of <font style="font-family: 'Times New Roman';"><u>this</u> </font></div>
            <div style="text-align: left; font-family: 'Times New Roman';"><u><font style="font-family: 'Times New Roman';">Global Note</font></u></div>
          </td>
          <td nowrap="nowrap" style="width: 19.97%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Amount of </div>
            <div style="text-align: left; font-family: 'Times New Roman';">increase in </div>
            <div style="text-align: left; font-family: 'Times New Roman';">Principal </div>
            <div style="text-align: left; font-family: 'Times New Roman';">Amount of <font style="font-family: 'Times New Roman';"><u>this</u> </font></div>
            <div style="text-align: left; font-family: 'Times New Roman';"><u><font style="font-family: 'Times New Roman';">Global Note</font></u></div>
          </td>
          <td nowrap="nowrap" style="width: 20.01%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Principal </div>
            <div style="text-align: left; font-family: 'Times New Roman';">Amount of this </div>
            <div style="text-align: left; font-family: 'Times New Roman';">Global Note </div>
            <div style="text-align: left; font-family: 'Times New Roman';">following such </div>
            <div style="text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>decrease (or</u> </font></div>
            <div style="text-align: left; font-family: 'Times New Roman';"><u><font style="font-family: 'Times New Roman';">increase)</font></u></div>
          </td>
          <td nowrap="nowrap" style="width: 20.06%; vertical-align: bottom;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Signature of</div>
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">authorized </div>
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">officer</div>
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><u>of Registrar</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.99%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 19.97%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 19.97%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 20.01%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 20.06%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-17</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">OPTION OF HOLDER TO ELECT PURCHASE</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">If you want to elect to have part of this Note purchased by the Company pursuant to Section 2.1 of the Fourth Supplemental Indenture, state the principal
      amount (which must be an integral multiple of U.S.$1,000, <font style="font-family: 'Times New Roman';"><u>provided</u></font><font style="font-family: 'Times New Roman'; font-style: italic;">&#160;</font>that the principal amount is not less than
      U.S.$50,000) that you want to have purchased by the Company:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zbb603e4d35f5479cb229081f4cde52ac">

        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">
            <div style="text-align: left; font-family: 'Times New Roman';">U.S.$</div>
          </td>
          <td nowrap="nowrap" style="width: 20%; vertical-align: top; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td nowrap="nowrap" style="width: 5%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
          <td nowrap="nowrap" style="width: 20%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
          <td style="width: 52%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" colspan="3" style="vertical-align: top; font-size: 10pt;">&#160;</td>
          <td nowrap="nowrap" style="width: 20%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 52%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; padding-bottom: 2px;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Date:</div>
          </td>
          <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
          <td nowrap="nowrap" style="width: 20%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Your Signature:</div>
          </td>
          <td style="width: 52%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" colspan="3" style="vertical-align: top; font-size: 10pt;">&#160;</td>
          <td nowrap="nowrap" style="width: 20%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 52%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top; font-size: 10pt;">&#160;</td>
          <td colspan="2" style="vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">(Sign exactly as your name appears on the other side of the Note)</div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top; font-size: 10pt;">&#160;</td>
          <td colspan="2" style="vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" colspan="3" style="vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Tax Identification No.:</div>
          </td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" colspan="3" style="vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Signature Guarantee:</div>
          </td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top; font-size: 10pt;">&#160;</td>
          <td colspan="2" style="vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">(Signature must be guaranteed)</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with
      membership in an approved signature guarantee medallion program), pursuant to Exchange Act Rule 17Ad-15.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">A-18</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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    <!--PROfilePageNumberReset%Num%1%B-%%-->
    <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">EXHIBIT B</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">FORM OF SUPPLEMENTAL INDENTURE</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;FOR ADDITIONAL NOTE GUARANTEE</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">This Supplemental Indenture, dated as of [__________] (this &#8220;<font style="font-family: 'Times New Roman';"><u>Supplemental Indenture</u></font>&#8221;), among
      [<font style="font-family: 'Times New Roman'; font-style: italic;">name of Subsidiary</font>], a [________] [corporation][limited liability company] (the &#8220;<font style="font-family: 'Times New Roman';"><u>Additional Subsidiary Guarantor</u></font>&#8221;),
      MercadoLibre, Inc., a Delaware Corporation (together with its successors and assigns, the &#8220;<font style="font-family: 'Times New Roman';"><u>Company</u></font>&#8221;) and The Bank of New York Mellon, as Trustee under the Indenture referred to below.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">W I T N E S S E T H:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, the Company, the Trustee and the Subsidiary Guarantors named therein (each a &#8220;<font style="font-family: 'Times New Roman';"><u>Subsidiary
          Guarantor</u></font>&#8221; and together the &#8220;<font style="font-family: 'Times New Roman';"><u>Subsidiary Guarantors</u></font>&#8221;) have heretofore executed and delivered an Indenture, dated as of January 14, 2021 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Base Indenture</u></font>,&#8221; and as amended and supplemented by the Fourth Supplemental Indenture, dated as of [ ], 2025 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Fourth Supplemental Indenture</u></font>,&#8221; the &#8220;<font style="font-family: 'Times New Roman';"><u>Indenture</u></font>&#8221;), providing for the issuance of $[ ] [ ]% Notes due 2033 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Notes</u></font>&#8221;); and</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, pursuant to <font style="font-family: 'Times New Roman';"><u>Section 10.1</u></font> of the Base Indenture, the Trustee and the Company are
      authorized to execute and deliver this Supplemental Indenture to supplement the Indenture, without the consent of any Holder;</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the
      Additional Subsidiary Guarantor, the Company and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ARTICLE I</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;DEFINITIONS</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 1.1</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Defined Terms</u></font>.&#160; Unless otherwise defined in this Supplemental Indenture, terms defined in the Indenture are used herein as therein defined.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">B-1</font></div>
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    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ARTICLE II</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;AGREEMENT TO BE BOUND; GUARANTEE</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 2.1</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Agreement to be Bound</u></font>.&#160; The Additional Subsidiary Guarantor hereby becomes a party to the Indenture as a Subsidiary Guarantor and as such shall have all of the rights and be subject to all of the obligations and
          agreements of a Subsidiary Guarantor under the Indenture.&#160; The Additional Subsidiary Guarantor hereby agrees to be bound by all of the provisions of the Indenture applicable to a Subsidiary Guarantor and to perform all of the obligations and
          agreements of a Subsidiary Guarantor under the Indenture.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 2.2</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Note Guarantees</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The


          Additional Subsidiary Guarantor hereby fully and unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of
          the Indenture, the Notes or the obligations of the Company hereunder or thereunder, that (i) the principal of, premium on, if any, and interest, if any, on, the Notes and all other amounts payable by the Company under the Indenture will be
          promptly paid in full when due, whether at Stated Maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of, premium on, if any, and interest, if any, on, the Notes, if lawful, and all other obligations of the
          Company to the Holders or the Trustee hereunder or thereunder (such guaranteed obligations, the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Guaranteed Obligations</font>&#8221;) will be promptly paid in full or performed, all in
          accordance with the terms hereof and thereof; and (ii) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be promptly paid in full when due or performed in accordance with the
          terms of the extension or renewal, whether at Stated Maturity, by acceleration or otherwise.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Failing


          payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Additional Subsidiary Guarantor, together with the Subsidiary Guarantors, will be obligated to pay the same immediately. The Additional
          Subsidiary Guarantor agrees that its Note Guarantee is a guarantee of payment and not a guarantee of collection.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">B-2</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(c)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The


          Additional Subsidiary Guarantor hereby agrees that its obligations under its Note Guarantee are unconditional, irrespective of the validity, regularity or enforceability of the Notes or the Indenture, the absence of any action to enforce the
          same, any waiver or consent by any Holder of the Notes or the Trustee with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other circumstance which might
          otherwise constitute a legal or equitable discharge or defense of such Subsidiary Guarantor. The Additional Subsidiary Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or
          bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenants that its Note Guarantee will not be discharged with respect to the Notes except by complete
          performance of the obligations contained in the Notes and the Indenture.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(d)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">If
          any Holder or the Trustee is required by any court or otherwise to return to the Company, the Subsidiary Guarantors or any custodian, trustee, liquidator or other similar officer acting in relation to either the Company or the Subsidiary
          Guarantors, any amount paid either to the Trustee or such Holder, each Subsidiary Guarantor&#8217;s Note Guarantee, to the extent theretofore discharged, will be reinstated in full force and effect.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(e)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The


          Additional Subsidiary Guarantor agrees that it will not be entitled to any right of subrogation in relation to the Holders with respect to the Notes in respect of any obligations guaranteed hereby until payment in full of all obligations
          guaranteed hereby with respect to the Notes. The Subsidiary Guarantor further agrees that, as between the Subsidiary Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the obligations guaranteed
          hereby may be accelerated as provided in Article VII of the Base Indenture for the purposes of the Subsidiary Guarantors&#8217; Note Guarantees, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the
          obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such obligations as provided in Article VII of the Base Indenture, such obligations (whether or not due and payable) will forthwith become due and payable
          by any Subsidiary Guarantor for the purpose of such Subsidiary Guarantor&#8217;s Note Guarantee.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">B-3</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(d)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Additional
          Subsidiary Guarantors further expressly waives irrevocably and unconditionally:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(i)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">Any right it may have
          to first require any Holder to proceed against, initiate any actions before a court of law or any other judge or authority, or enforce any other rights or security or claim payment from the Company or any other Person (including any Subsidiary
          Guarantor or any other guarantor) before claiming from it under this Indenture;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(ii)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Any rights and
          benefits arising from Articles 775, 776, 777, 829, 830 and 831 (other than with respect to defenses or motions based on documented payment (<font style="font-family: 'Times New Roman'; font-style: italic;">pago</font>), reduction (<font style="font-family: 'Times New Roman'; font-style: italic;">quita</font>), extension (<font style="font-family: 'Times New Roman'; font-style: italic;">espera</font>) or release or remission (<font style="font-family: 'Times New Roman'; font-style: italic;">remisi&#243;n</font>), 1583, 1584, 1585 and 1589 (<font style="font-family: 'Times New Roman'; font-style: italic;">beneficios de excusi&#243;n y divisi&#243;n</font>), 1594, 1592, 1596 and 1598 of the Argentine Civil and Commercial Code;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(iii)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Any rights to the
          benefits of <font style="font-family: 'Times New Roman'; font-style: italic;">orden</font>, <font style="font-family: 'Times New Roman'; font-style: italic;">excusi&#243;n</font>, <font style="font-family: 'Times New Roman'; font-style: italic;">divisi&#243;n</font>,
          <font style="font-family: 'Times New Roman'; font-style: italic;">quita</font> and <font style="font-family: 'Times New Roman'; font-style: italic;">espera</font> arising from Articles 2814, 2815, 2817, 2818, 2819, 2820, 2821, 2822, 2823, 2826,
          2837, 2839, 2840, 2845, 2846, 2847 and any other related or applicable Articles that are not explicitly set forth herein because of the Subsidiary Guarantor&#8217;s knowledge thereof, of the <font style="font-family: 'Times New Roman'; font-style: italic;">C&#243;digo Civil Federal</font> of Mexico and the <font style="font-family: 'Times New Roman'; font-style: italic;">C&#243;digo Civil</font> of each State of the Mexican Republic and for the Federal District of Mexico;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(iv)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Any rights to the
          benefits of ordem arising from Article 827 and any other related or applicable Articles that are not explicitly set forth herein because of the Guarantor&#8217;s knowledge thereof, of the Brazilian Civil Code (<font style="font-family: 'Times New Roman'; font-style: italic;">C&#243;digo Civil Brasileiro</font>);</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(v)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Any rights to the <font style="font-family: 'Times New Roman'; font-style: italic;">beneficio de excusi&#243;n</font> contemplated in Section 2357 of the Chilean Civil Code (<font style="font-family: 'Times New Roman'; font-style: italic;">C&#243;digo Civil de Chile</font>),
          the <font style="font-family: 'Times New Roman'; font-style: italic;">beneficio de divisi&#243;n</font> contemplated in Section 2367 of the Chilean Civil Code; the right granted to any Guarantor incorporated under the laws of Chile under Section 2355
          of the Chilean Civil Code; the right or possibility of withdraw upon the non-existence of the primary obligation, as contemplated by Section 2339 of the Chilean Civil Code and the right granted to any Guarantor incorporated under the laws of
          Chile by Section 1649 of the Chilean Civil Code in the case of mere extension of the term of the Securities;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">B-4</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(vi)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Any right to which it
          may be entitled to have the assets of the Company or any other Person (including any Subsidiary Guarantor or any other guarantor) first be used, applied or depleted as payment of the Company&#8217;s or the Additional Subsidiary Guarantors&#8217; obligations
          hereunder, prior to any amount being claimed from or paid by the Additional Subsidiary Guarantors hereunder; and</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(vii)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Any right to which it
          may be entitled to have claims hereunder divided among the Subsidiary Guarantors and the Additional Subsidiary Guarantor.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 2.3</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Limitation on Liability; Termination, Release and Discharge</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Additional Subsidiary Guarantor, and
          by its acceptance of Notes, each Holder, hereby confirm that it is the intention of all such parties that the Guarantee of the Additional Subsidiary Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the
          Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to this Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Additional Subsidiary
          Guarantor hereby irrevocably agree that the obligations of the Additional Subsidiary Guarantor will be limited to the maximum amount that will, after giving effect to such maximum amount and all other contingent and fixed liabilities of the
          Additional Subsidiary Guarantor that are relevant under such laws, result in the obligations of the Additional Subsidiary Guarantor under this Guarantee not constituting a fraudulent transfer or conveyance.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Note Guarantee of an Additional
          Subsidiary Guarantor shall be automatically and unconditionally released and discharged and shall thereupon terminate and be of no further force and effect, and no further action by such Additional Subsidiary Guarantor, the Company or the Trustee
          is required for the release of such Additional Subsidiary Guarantor&#8217;s Note Guarantee upon:</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(1)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the


          sale, exchange, disposition or other transfer (including by way of consolidation or merger) of the Additional Subsidiary Guarantor or the sale or disposition of all or substantially all the assets of the Additional Subsidiary Guarantor (other
          than to the Company or a Subsidiary) otherwise permitted by the Indenture;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">B-5</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(2)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';">a
          Legal Defeasance or a Covenant Defeasance of the Notes pursuant to Article IX of the Base Indenture;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(3)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">a
          satisfaction and discharge of this Indenture pursuant to Section 9.5 of the Base Indenture;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(4)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the


          release or discharge of the Note Guarantee by such Additional Subsidiary Guarantor of the Triggering Indebtedness or the repayment of the Triggering Indebtedness, in each case, that resulted in the obligation of such Subsidiary to become a
          Subsidiary Guarantor; or</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 108pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(5)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">such


          Additional Subsidiary Guarantor becoming an Excluded Subsidiary or ceasing to be a Subsidiary;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">provided, in each case, such transactions are carried out pursuant to and in accordance with all applicable covenants and provisions thereof. At the
      option of the Company, the release of a Subsidiary Guarantor may be evidenced by the delivery of an Officer's Certificate to the Trustee.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 2.4</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Right of Contribution</u></font>.&#160; If the Additional Subsidiary Guarantor makes a payment or distribution under its Note Guarantee, it will be entitled to a contribution from each other Subsidiary Guarantor in a pro rata amount,
          based on the net assets of each Subsidiary Guarantor and the Additional Subsidiary Guarantor determined in accordance with GAAP.&#160; The provisions of this <font style="font-family: 'Times New Roman';"><u>Section 2.4</u></font> shall in no respect
          limit the obligations and liabilities of the Additional Subsidiary Guarantor to the Trustee and the Holders and the Additional Subsidiary Guarantor shall remain liable to the Trustee and the Holders for the full amount guaranteed by the
          Additional Subsidiary Guarantor hereunder.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">B-6</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 2.5</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);"><u>No Subrogation</u>. The Additional Subsidiary Guarantor agrees that it shall not be entitled to any right of subrogation in respect of any Guaranteed Obligations until payment in full in cash or Cash
            Equivalents of all Guaranteed Obligations. If any amount shall be paid to the Additional Subsidiary Guarantor on account of such subrogation rights at any time when all of the Guaranteed Obligations shall not have been paid in full in cash or
            Cash Equivalents, such amount shall be held by the Additional Subsidiary Guarantor in trust for the Trustee and the Holders, segregated from other funds of the Additional Subsidiary Guarantor, and shall, forthwith upon receipt by the Additional
            Subsidiary Guarantor, be turned over to the Trustee in the exact form received by the Additional Subsidiary Guarantor (duly endorsed by the Additional Subsidiary Guarantor to the Trustee, if required), to be applied against the Guaranteed
            Obligations.</font></font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ARTICLE III</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">MISCELLANEOUS</div>
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    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 3.1</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Notices</u></font>.&#160; Any notice or communication delivered to the Company under the provisions of the Indenture shall constitute notice to the Additional Subsidiary Guarantor.</font></font></div>
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    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 3.2</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Parties</u></font>.&#160; Nothing expressed or mentioned herein is intended or shall be construed to give any Person, firm or corporation, other than the Holders and the Trustee, any legal or equitable right, remedy or claim under or
          in respect of this Supplemental Indenture or the Indenture or any provision herein or therein contained.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 3.3</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Governing Law, etc</u></font>.&#160; This Supplemental Indenture shall be governed by the provisions set forth in Section 11.10 of the Base Indenture.</font></font></div>
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    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 3.5</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Ratification of Indenture; Supplemental Indenture Part of Indenture</u></font>.&#160; Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof
          shall remain in full force and effect.&#160; This Supplemental Indenture shall form a part of the Indenture for all purposes, and every holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby.&#160; The Trustee makes no
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    <div style="font-size: 10pt;">&#160;</div>
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          executed in any number of counterparts, each of which so executed shall be an original, but all of them together represent the same agreement.&#160; Delivery of an executed counterpart of a signature page of this Supplemental Indenture by facsimile or
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    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 3.7</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Headings</u></font>.&#160; The headings of the Articles and Sections in this Supplemental Indenture have been inserted for convenience of reference only, are not intended to be considered as a part hereof and shall not modify or
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    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Section 3.8</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>The Trustee</u></font>.&#160; The recitals in this Supplemental Indenture are made by the Company and the Additional Subsidiary Guarantor only and not by the Trustee, and all of the provisions contained in the Base Indenture in
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          warranties as to the correctness of the recitals contained herein, which shall be taken as statements of the Company, or the validity or sufficiency of this Supplemental Indenture and the Trustee shall not be accountable or responsible for or
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    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first above written.</div>
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            <div style="text-align: left; font-family: 'Times New Roman';">MERCADOLIBRE, INC.</div>
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            <div style="text-align: left; font-family: 'Times New Roman';">Name:</div>
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          <td colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
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            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">[<font style="font-family: 'Times New Roman'; font-style: italic;">NAME OF ADDITIONAL SUBSIDIARY GUARANTOR</font>],</div>
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          <td rowspan="1" colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td rowspan="1" colspan="2" style="vertical-align: top;">&#160;</td>
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          <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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            <div style="text-align: left; font-family: 'Times New Roman';">Name:</div>
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          <td colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
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            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">THE BANK OF NEW YORK MELLON,</div>
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">as Trustee</div>
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          <td rowspan="1" colspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          <td rowspan="1" colspan="2" style="vertical-align: top;">&#160;</td>
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<DOCUMENT>
<TYPE>EX-4.3
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<FILENAME>ef20060926_ex4-3.htm
<DESCRIPTION>EXHIBIT 4.3
<TEXT>
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    <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit 4.3</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE
      BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 1.3 OF THE FOURTH SUPPLEMENTAL INDENTURE, (2) THIS GLOBAL NOTE
      MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 1.3 OF THE FOURTH SUPPLEMENTAL INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE BASE INDENTURE AND (4) THIS GLOBAL NOTE MAY
      BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT TO A CUSTODIAN OR A
      NOMINEE OF SUCH CUSTODIAN, BY A CUSTODIAN OR A NOMINEE OF SUCH CUSTODIAN TO A DEPOSITARY OR TO ANOTHER NOMINEE OR CUSTODIAN OF SUCH DEPOSITARY, OR BY SUCH CUSTODIAN OR DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR CUSTODIAN OR A NOMINEE
      THEREOF. ACCORDINGLY, UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (140 58TH STREET, BROOKLYN NY, 11220) (&#8220;DTC&#8221;), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
      AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &amp; CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &amp; CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED
      REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &amp; CO., HAS AN INTEREST HEREIN.</div>
    <div style="font-size: 10pt;">&#160;</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">4.900% NOTES DUE 2033</div>
    <div style="font-size: 10pt;">&#160;</div>
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            <div style="text-align: left; font-family: 'Times New Roman';">No. R-[&#160; ]</div>
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          <td style="width: 50%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: right; font-family: 'Times New Roman';">U.S.$[&#160; ]</div>
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            <div style="text-align: left; font-family: 'Times New Roman';">CUSIP: 58733R AG7</div>
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          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
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            <div style="text-align: left; font-family: 'Times New Roman';">ISIN: US58733RAG74</div>
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          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">MERCADOLIBRE, INC.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">promises to pay to Cede &amp; Co., or registered assigns, the principal sum of U.S.$[&#160; ] on December 9, 2033 (as modified by the Schedule of Increases and
      Decreases in the Global Note attached hereto).</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Interest Payment Dates: January 15 and July 15, commencing July 15, 2026.</div>
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    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Record Dates: January 1 and July 1 (whether or not a Business Day)</div>
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    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Each holder of this Note (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the Indenture
      described herein, and authorizes and directs the Trustee described herein on such holder&#8217;s behalf to be bound by such provisions. Each holder of this Note hereby waives all notice of the acceptance of the provisions contained herein and in the
      Indenture and waives reliance by such holder upon said provisions.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">This Note shall not be entitled to any benefit under the Indenture, or be valid or become obligatory for any purpose, until the Certificate of
      Authentication hereon shall have been signed by or on behalf of the Trustee. The provisions of this Note are continued on the reverse side hereof, and such continued provisions shall for all purposes have the same effect as though fully set forth at
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    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.</div>
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            <div style="text-align: left; font-family: 'Times New Roman';">Date: [&#160; ]</div>
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          <td style="vertical-align: top; font-size: 10pt;" colspan="2">&#160;</td>
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            <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold;">MERCADOLIBRE, INC.</div>
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          <td style="vertical-align: top; font-size: 10pt;" colspan="2" rowspan="1">&#160;</td>
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            <div style="text-align: left; font-family: 'Times New Roman';">By:</div>
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          <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
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          <td style="width: 3%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 47%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Name:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 47%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Title:</div>
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    </table>
    <div style="font-size: 10pt;"><br>
    </div>
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    <!--PROfilePageNumberReset%Num%4%%%-->
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CERTIFICATE OF AUTHENTICATION</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">This is one of the 4.900% Notes due 2033 issued by MercadoLibre, Inc. referred to in the within-mentioned Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
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            <div style="text-align: left; font-family: 'Times New Roman';">Date: [&#160; ]</div>
          </td>
          <td style="vertical-align: top; font-size: 10pt;" colspan="2">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="vertical-align: top; font-size: 10pt;" colspan="2">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">THE BANK OF NEW YORK MELLON</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 47%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">as Trustee</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 47%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
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          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">By:</div>
          </td>
          <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 47%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Authorized Signatory</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">4</font></div>
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    </div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">This note is one of a duly authorized Series of debt securities of MercadoLibre, Inc., a Delaware corporation (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Company</font>&#8221;), issued or to be issued in one or more Series under and pursuant to an Indenture for the Company&#8217;s debentures, notes or other debt instruments evidencing its indebtedness, dated as
      of January 14, 2021 (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Base Indenture</font>&#8221;), duly executed and delivered by and between the Company, the Subsidiary Guarantors and The Bank of New York Mellon as
      trustee (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Trustee</font>&#8221;), registrar, paying agent and transfer agent, as supplemented and amended by the Fourth Supplemental Indenture, dated as of December 9, 2025
      (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Fourth Supplemental Indenture</font>&#8221;), by and among the Company, the Subsidiary Guarantors (as defined therein) and the Trustee. The Base Indenture as supplemented and
      amended by the Fourth Supplemental Indenture is referred to herein as the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Indenture.</font>&#8221; By the terms of the Base Indenture, the debt securities issuable thereunder are
      issuable in Series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Base Indenture. This note is one of the Series designated on the face hereof (individually, a &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Note,</font>&#8221; and collectively, the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Notes</font>&#8221;), and reference is hereby made to the Indenture for a description of
      the rights, limitations of rights, obligations, duties and immunities of the Trustee, the Company and the Holders of the Notes (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Holders</font>&#8221;). Capitalized terms used
      herein and not otherwise defined shall have the meanings given them in the Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Interest</u></font>. Interest on the Notes will accrue at the rate of 4.900% per year, and shall be payable semi-annually in arrears on January 15 and July 15 of each year, commencing on July
          15, 2026. Payments shall be made to the persons who are registered Holders at the close of business on January 1 and July 1, as the case may be, immediately preceding the applicable Interest Payment Date (whether or not a Business Day) and at
          maturity. Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including the Issue Date. Interest will be computed on the basis of a 360-day year comprised of
          twelve 30-day months.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">2.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Method of Payment</u></font>. The Company will pay interest on the Notes (except defaulted interest), if any, to the persons in whose name such Notes are registered at the close of business
          on the regular record date referred to on the facing page of this Note for such interest payment. In the event that the Notes or a portion thereof are called for redemption and the Redemption Date is subsequent to a regular record date with
          respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Notes will be paid upon presentation and surrender of such Notes as provided in the Indenture. The principal of and the interest on the Notes shall be
          payable in U.S. Dollars, at the office of the Paying Agent maintained for that purpose in accordance with the Indenture, or at the Company&#8217;s option, by check mailed to the address of the registered Holder or, with respect to any Global Note or
          upon application by the Holder of a Certificated Note to the specified office of any Paying Agent not less than 15 days before the due date of any payment, by wire transfer to a U.S. dollar account.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">3.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Registrar, Paying Agent, and Transfer Agent</u></font>. Initially, The Bank of New York Mellon will act as Registrar; the initial Paying Agent will be The Bank of New York Mellon, in New
          York; the initial Transfer Agent will be The Bank of New York Mellon, in New York. The Company may change or appoint any Registrar, Paying Agent or Transfer Agent without notice to any Holder.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">5</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">4.</font><font style="font-size: 10pt;">&#160; &#160; &#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Indenture</u></font>. The Notes are senior unsecured obligations of the Company and constitute the Series designated on the face hereof as the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">4.900% Notes due 2033</font>&#8221;, initially limited to $[&#160; ] in aggregate principal amount. The Company will furnish to any Holders upon written request and without charge a copy of the Base Indenture and the
          Fourth Supplemental Indenture. Requests may be made to: MercadoLibre Inc., WTC Free Zone, Dr. Luis Bonavita 1294, Of. 1733, Tower II, Montevideo, Uruguay, 11300, Attention: General Counsel.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">5.</font><font style="font-size: 10pt;">&#160;&#160;&#160; &#160; &#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Optional Redemption</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160; &#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman'; font-style: italic;">Optional Redemption with a Make-Whole Premium</font>. At the Company&#8217;s option, the Notes may be redeemed or purchased, in each case, in whole or in part at
          any time or from time to time prior to the Stated Maturity of the Notes, as provided in Article IV of the Base Indenture, Section 1.2 of the Fourth Supplemental Indenture and in this Section 5.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 63pt; margin-left: 36pt;">Prior to November 15, 2032 (two months prior to their Maturity Date) (the &#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Par Call Date</font>&#8221;), the Company may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to
      three decimal places) equal to the greater of:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(i)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">100% of the principal amount of the Notes to be redeemed, and</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(ii)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a
          360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, less (b) interest accrued to the date of redemption,</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">plus, in either case, accrued and unpaid interest on the Notes being redeemed to, but excluding, the redemption date.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">On or after the Par Call Date, the Company may redeem the Notes, in whole or in part, at any time and from time to time, at
      a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to the redemption date.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-family: 'Times New Roman'; font-style: italic;">Treasury Rate</font>&#8221; means, with respect to
      any redemption date, the yield determined by the Company in accordance with the following two paragraphs.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">6</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The Treasury Rate shall be determined by the Company or the Company&#8217;s designee (which will not be the Trustee) after 4:15
      p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third business day preceding the redemption date based upon the yield or yields for
      the most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as &#8220;Selected Interest Rates (Daily) - H.15&#8221; (or any successor designation
      or publication) (&#8220;H.15&#8221;) under the caption &#8220;U.S. government securities&#8211;Treasury constant maturities&#8211;Nominal&#8221; (or any successor caption or heading) (&#8220;H.15 TCM&#8221;). In determining the Treasury Rate, the Company shall select, as applicable: (1) the yield
      for the Treasury constant maturity on H.15 exactly equal to the period from the redemption date to the Par Call Date (the &#8220;Remaining Life&#8221;); or (2) if there is no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two
      yields &#8211; one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the Remaining Life &#8211; and shall interpolate to the Par
      Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the
      yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant
      number of months or years, as applicable, of such Treasury constant maturity from the redemption date.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">If on the third business day preceding the redemption date H.15 TCM is no longer published, the Company shall calculate the
      Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such redemption date of the United States Treasury security maturing on, or with a
      maturity that is closest to, the Par Call Date, as applicable.&#160; If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally distant from the Par
      Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the Par Call Date. If there are two
      or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two or more United States Treasury
      securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time.&#160; In determining the Treasury Rate in
      accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal amount) at 11:00
      a.m., New York City time, of such United States Treasury security, and rounded to three decimal places.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">7</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Calculation of the foregoing will be made by the Company or on the Company&#8217;s behalf by such Person as the Company shall
      designate; provided, however, that such calculation shall not be a duty or obligation of the Trustee. The Company&#8217;s actions and determinations in determining the redemption price shall be conclusive and binding for all purposes, absent manifest
      error.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Optional Redemption Upon Tax Event</u></font>.&#160; If the Company determines that, as a result of any amendment to, or change in, the laws or treaties (or any rules or
          regulations, or if applicable, rulings promulgated thereunder) of any Relevant Jurisdiction, any taxing authority thereof or therein affecting taxation, or any amendment to, or change in an official interpretation or application (including
          judicial or administrative interpretation or application, as applicable) of such laws, treaties, rules, regulations or rulings, which amendment to, or change in such laws, treaties, rules, regulations or rulings is legislated or promulgated or,
          in the case of a change in official interpretation or application (including judicial or administrative interpretation or application, as applicable), is announced or otherwise made available on or after the later of the Issue Date and the date a
          Relevant Jurisdiction becomes a Relevant Jurisdiction, the Company or a Subsidiary Guarantor would be obligated, to pay any Additional Amounts, <font style="font-family: 'Times New Roman';"><u>provided</u></font> that the Company, in
          its business judgment, determines that such obligation cannot be avoided by the Company taking reasonable measures available to it, including, without limitation, taking reasonable measures to change the Paying Agent, then, at the Company&#8217;s
          option, all, but not less than all, of the Notes may be redeemed at any time at a redemption price equal to 100% of the outstanding principal amount, plus any accrued and unpaid interest to the Redemption Date due thereon up to but not including
          the Redemption Date; <font style="font-family: 'Times New Roman';"><u>provided</u></font> that (1) no notice of redemption for tax reasons may be given earlier than 90 days prior to the earliest date on which the Company (or a
          Subsidiary Guarantor) would be obligated to pay these Additional Amounts if a payment on the Notes were then due, and (2) at the time such notice of redemption is given such obligation to pay such Additional Amounts remains in effect.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; margin-left: 99pt;">Prior to the giving of any notice of redemption pursuant to this provision, the Company will deliver to the Trustee:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(i)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">an Officer&#8217;s Certificate stating that the Company is entitled to effect the redemption and setting forth a statement of facts showing that the conditions precedent to the Company&#8217;s right to redeem have occurred; and</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(ii)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">an Opinion of Counsel from legal counsel in a Relevant Jurisdiction (which may be the Company&#8217;s counsel) of recognized standing to the effect that the Company has or will become obligated to pay such Additional Amounts as a
          result of such change or amendment.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">8</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(c)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Redemption at Par</u></font>.&#160; The Notes will be redeemable, at any time and from time to time, in whole or in part, at the Company&#8217;s option beginning on the Par Call Date,
          at a redemption price equal to 100% of the outstanding principal amount of the Notes to be redeemed, plus accrued and unpaid interest on the principal amount of the Notes being redeemed to, but not including, the Redemption Date.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Notwithstanding the foregoing, payments of interest on the Notes that are due and payable on or prior to a date fixed for
      redemption of the Notes shall be payable to the Holders of those Notes registered as such at the close of business on the relevant record dates according to the terms and provisions of the Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(d)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Optional Redemption Procedures</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(i)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';">Notice of any redemption shall be sent in the manner provided for in Section 11.1 of the Base Indenture at least 10 but not more than 30 days before the Redemption Date to Holders of Notes to be redeemed.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(ii)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The Company may make any redemption or redemption notice subject to the satisfaction of conditions precedent. If such redemption or notice is subject to the satisfaction of one or more conditions precedent, such notice shall
          state that, in the Company&#8217;s discretion, the Redemption Date may be delayed until such time (but no more than 60 days after the date of the notice of redemption) as any or all such conditions shall be satisfied, or such redemption may not occur
          and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied by the redemption date, or by the redemption date as so delayed. In addition, the Company may provide in such notice that payment of the
          redemption price and performance of the Company&#8217;s obligations with respect to such redemption may be performed by another person.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(iii)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Notes called for redemption will become due on the date fixed for redemption. The Company will pay the redemption price for the Notes called for redemption including accrued and unpaid interest thereon to but not including the
          Redemption Date. On and after the Redemption Date, interest will cease to accrue on such Notes as long as the Company has deposited with the paying agent funds in satisfaction of the applicable redemption price including accrued and unpaid
          interest thereon pursuant to the Indenture. Upon redemption of the Notes by the Company, the redeemed Notes will be cancelled and cannot be reissued.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">9</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 27pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(iv)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">If fewer than all of the Notes are being redeemed, the Notes to be redeemed shall be selected as follows: (1) if the Notes are listed on an exchange, in compliance with the requirements of such exchange, (2) if the Notes are not
          so listed but are in global form, then by lot or otherwise in accordance with the procedures of DTC or the applicable depositary or (3) if the Notes are not so listed and are not in global form, on a pro rata basis to the extent practicable, or,
          if the pro rata basis is not practicable for any reason, by lot or by such other method as the Trustee in its sole discretion shall deem fair and appropriate; <font style="font-family: 'Times New Roman';"><u>provided</u></font> that
          the remaining principal amount of such Holder&#8217;s Note will not be less than U.S.$100,000. Upon surrender of any Note redeemed in part, the Holder will receive a new Note equal in principal amount to the unredeemed portion of the surrendered Note.
          Once notice of redemption is sent to the Holders, Notes called for redemption become due and payable at the redemption price on the Redemption Date, and, commencing on the Redemption Date, Notes redeemed will cease to accrue interest (unless the
          Company defaults in the payment of the redemption price).</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">6.</font><font style="font-size: 10pt;">&#160;&#160;&#160; &#160; &#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Mandatory Repurchase Provisions</u></font>.&#160; Upon the occurrence of a Change of Control Repurchase Event, each Holder of Notes will have the right to require that the Company purchase all or
          a portion (in integral multiples of U.S.$1,000, <font style="font-family: 'Times New Roman';"><u>provided</u></font> that the remaining principal amount of such Holder&#8217;s Note will not be less than U.S.$100,000) of the Holder&#8217;s Notes at
          a purchase price equal to 101% of the principal amount thereof, plus any accrued and unpaid interest thereon through the Change of Control Payment.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 99pt;">The Company will have the right to redeem all of the Notes at 101% of the principal amount thereof, plus accrued and unpaid interest, if any,
      to, but not including, the Redemption Date (subject to the right of Holders of Notes on a relevant record date to receive interest on an interest payment date occurring on or prior to the Redemption Date), following the consummation of a Change of
      Control Repurchase Event if at least 90% of the Outstanding Notes prior to such consummation are purchased pursuant to a Change of Control Offer with respect to such Change of Control Repurchase Event.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 99pt;">Within 30 days following the date upon which the Change of Control Repurchase Event occurs, the Company must make a Change of Control Offer
      pursuant to a Change of Control Notice.&#160; As more fully described in the Indenture, the Change of Control Notice shall state, among other things, the Change of Control Payment Date, which must be at least 30 days but not more than 60 days from the
      date the notice is given, other than as may be required by applicable law.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">7.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Denominations, Transfer, Exchange</u></font>.&#160; The Notes are in registered form in minimum denominations of U.S.$50,000 and integral multiples of U.S.$1,000 in excess thereof. The transfer of
          Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a
          Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being
          redeemed in part. Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the next succeeding Interest Payment
          Date.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">10</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">8.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Persons Deemed Owners</u></font>.&#160; The registered Holder of a Note may be treated as the owner of it for all purposes. Only registered Holders have rights under the Indenture.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">9.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Repayment to the Company</u></font>.&#160; The Trustee and the Paying Agent shall promptly pay to the Company upon written request any excess money or Government Obligations (or proceeds
          therefrom) held by them at any time upon the written request of the Company.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Subject to the requirements of any applicable abandoned property laws, the Trustee and the Paying Agent shall pay to the Company upon written
      request any money held by them for the payment of principal, premium (if any), interest or any Additional Amounts that remains unclaimed for two years after the date upon which such payment shall have become due. After payment to the Company, Holders
      entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another Person, and all liability of the Trustee and the Paying Agent with respect to such money shall cease.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">10.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Amendment, Supplements and Waivers</u></font>.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Subject to certain exceptions set forth in the Indenture, without the consent of any Holder, the Company, the Subsidiary Guarantors and the Trustee may, among other things, amend or supplement the Indenture, the Note Guarantees or
          the Notes to cure any ambiguity, omission, defect or inconsistency; to provide for the assumption by a Surviving Entity of the obligations of the Company or a Subsidiary Guarantor under the Indenture; to add Note Guarantees or additional
          guarantees with respect to the Notes or release a Note Guarantee in accordance with the terms of the Indenture; to secure the Notes; to add to the covenants of the Company for the benefit of the Holders or to surrender any right or power thereby
          conferred upon the Company; to provide for the issuance of Additional Notes; to conform the text of the Indenture, the Note Guarantees or the Notes to any provision of the Prospectus; to evidence the replacement of the Trustee as provided for
          under the Indenture; if necessary, in connection with any release of any security permitted under the Indenture; to provide for uncertificated Notes in addition to or in place of certificated Notes; or to make any other changes which do not
          adversely affect the rights of any of the Holders in any material respect.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">11</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Subject to certain exceptions set forth in the Indenture, (i) the Indenture, the Notes or the Note Guarantees may be amended or supplemented with the written consent of the Holders of at least a majority in principal amount of the
          then Outstanding Notes and (ii) any Default or Event of Default and its consequences under the Indenture (other than regarding a Default or Event of Default in the payment of the principal of, premium, if any, or interest or Additional Amounts,
          if any, on the Notes, except a payment Default resulting from an acceleration that has been rescinded) or compliance with any provision of, the Indenture, or the Notes, or the Notes Guarantees may be waived with the written consent of the Holders
          of a majority in principal amount of the then Outstanding Notes, except that, without the consent of each Holder affected thereby, no amendment may (with respect to any Notes held by a non-consenting Holder of Notes):reduce the percentage of the
          principal amount of the outstanding Notes whose Holders must consent to an amendment, supplement or waiver; reduce the rate of or change or have the effect of changing the time for payment of interest on any Notes; change any place of payment
          where the principal of or interest on the Notes is payable; reduce the principal of or change or have the effect of changing the fixed maturity of any Notes, or change the date on which any Notes may be subject to redemption, or reduce the
          redemption price therefor; make any Notes payable in money other than that stated in the Notes; make any change in the provisions of the Indenture entitling each Holder to receive payment of principal of, premium, if any, and interest on the
          Notes on or after the due date thereof or to bring suit to enforce such payment, or permitting Holders of a majority in principal amount of outstanding Notes to waive Defaults or Events of Default; reduce the premium payable upon a Change of
          Control Repurchase Event or, at any time after a Change of Control Repurchase Event has occurred, (i) amend, change or modify in any material respect the obligation of the Company to make and consummate a Change of Control Offer relating thereto
          or (ii) change the time at which the Change of Control Offer relating thereto must be made or at which the Notes must be repurchased pursuant to such Change of Control Offer; eliminate or modify in any manner a Subsidiary Guarantor&#8217;s obligations
          with respect to its Note Guarantee which adversely affects Holders in any material respect, except as contemplated in the Indenture; make any change in the Additional Amounts provisions of the Indenture that adversely affects the rights of any
          Holder or amend the terms of the Notes in a way that would result in a loss of exemption from any applicable taxes; or make any change to the provisions of the Indenture or the Notes that adversely affects the ranking of the Notes (for the
          avoidance of doubt, a change to the covenants described in <font style="font-family: 'Times New Roman';"><u>Section 2.2</u></font> and <font style="font-family: 'Times New Roman';"><u>Section 2.3</u></font> of the Fourth
          Supplemental Indenture shall not be deemed to adversely affect the ranking of the Notes).</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">11.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Defaults and Remedies</u></font>.&#160; If an Event of Default for the Company&#8217;s Notes occurs and is continuing (other than an Event of Default referred to in Section 7.1(a)(6) of the Base
          Indenture), the Trustee or the Holders of at least 25% in principal amount of the outstanding Notes may declare the unpaid principal of and premium, if any, and accrued and unpaid interest on all such Notes to be immediately due and payable by
          notice in writing to the Company (if given by the Trustee or the Holders) and the Trustee (if given by the Holders) specifying the Event of Default and that it is a &#8220;notice of acceleration&#8221;. If an Event of Default referred to in Section 7.l(a)(6)
          of the Base Indenture occurs with respect to the Company the then unpaid principal of and premium, if any and accrued and unpaid interest on the Company&#8217;s Notes will become immediately due and payable without any declaration or other act on the
          part of the Trustee or any Holder.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">12</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">12.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Trustee May Hold Notes</u></font>.&#160; The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any of its
          Affiliates with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights and duties. However, the Trustee is subject to Section 8.10 and Section 8.11 of the Base Indenture.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">13.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>No Personal Liability of Directors, Officers, Employees and Certain Others</u></font>.&#160; No director, officer, employee, incorporator or similar founder, stockholder or member of the Company
          or any Subsidiary Guarantor will have any liability for or any obligations of the Company or any Subsidiary Guarantor under the Indenture or the Notes, or the Note Guarantee or for any claims based on, in respect of or by reason of, such
          obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities
          under the U.S. federal securities laws or under corporate law of the State of Delaware.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">14.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Discharge of Indenture</u></font>.&#160; The Indenture contains certain provisions pertaining to discharge and defeasance, which provisions shall for all purposes have the same effect as if set
          forth herein.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">15.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Authentication</u></font>.&#160; This Note shall not be valid until the Trustee signs, by manual, facsimile or electronic signature, the certificate of authentication attached to the other side of
          this Note.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">16.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Additional Amounts</u></font>.&#160; The Company is obligated to pay Additional Amounts on this Note to the extent provided in the Indenture.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">17.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman';"><u>Abbreviations</u></font>.&#160; Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM(= tenants in common), TEN ENT(= tenants by the entireties), JT TEN (=
          joint tenants with right of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform Gifts to Minors Act).</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Governing Law</u></font><font style="font-size: 10pt;">.&#160; <font style="font-family: 'Times New Roman'; font-weight: bold;">THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE, THE NOTES OR THE NOTE GUARANTEES, SHALL BE
          GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK.</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">13</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ASSIGNMENT FORM</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z2afebc0266554b9d83219928e005596c" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;" colspan="2">&#160;</td>
          <td style="width: 68%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 30%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">(Insert assignee&#8217;s legal name)</div>
          </td>
          <td style="width: 68%; vertical-align: top; font-size: 10pt;" colspan="1">&#160;</td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="z04234aec63c24ae0a706519324f2f679" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">(Insert assignee&#8217;s soc. Sec. or tax I.D. no.)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">(Print or type assignee&#8217;s name, address and zip code)</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">and irrevocably appoint ____________________________________________________ agent to transfer this Note on the books of the Company. The agent may substitute
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        <tr>
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          <td style="width: 35%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
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        <tr>
          <td style="vertical-align: top; font-size: 10pt;" colspan="3">&#160;</td>
          <td style="vertical-align: top; font-size: 10pt;" colspan="2">&#160;</td>
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        <tr>
          <td style="vertical-align: top; font-size: 10pt;" colspan="3">&#160;</td>
          <td style="vertical-align: top; font-size: 10pt;" colspan="2">&#160;</td>
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          <td style="vertical-align: top; font-size: 10pt; padding-bottom: 2px;" colspan="3">&#160;</td>
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          <td style="width: 38%; vertical-align: top; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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        <tr>
          <td style="width: 15%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">
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        <tr>
          <td style="width: 15%; vertical-align: top; font-size: 10pt;">&#160;</td>
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            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the
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        <tr>
          <td style="width: 19.86%; vertical-align: bottom;">
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            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Amount of <u><font style="font-family: 'Times New Roman';">this</font></u></div>
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          <td style="width: 19.84%; vertical-align: bottom;">
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          <td style="width: 20.02%; vertical-align: bottom;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Principal</div>
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            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Signature of</div>
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        <tr>
          <td style="width: 19.86%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 19.84%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 19.84%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 20.02%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 20.44%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 19.86%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 19.84%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 19.84%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 20.02%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 20.44%; vertical-align: top; font-size: 10pt;">&#160;</td>
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    <div style="font-size: 10pt;"><br>
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    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">OPTION OF HOLDER TO ELECT PURCHASE</div>
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    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">If you want to elect to have part of this Note purchased by the Company pursuant to Section 2.1 of the Fourth Supplemental Indenture, state the
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        <tr>
          <td nowrap="nowrap" style="width: 5%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">
            <div style="text-align: left; font-family: 'Times New Roman';">U.S.$</div>
          </td>
          <td style="width: 27%; vertical-align: top; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td style="width: 3.28%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
          <td style="width: 50%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 27%; vertical-align: top; font-size: 10pt;" colspan="1">&#160;</td>
          <td style="width: 3.28%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 5%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Date:</div>
          </td>
          <td style="width: 27%; vertical-align: top; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td style="width: 3.28%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Your Signature:</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 27%; vertical-align: top; font-size: 10pt;" colspan="1">&#160;</td>
          <td style="width: 3.28%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 32%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3.28%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 65%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">(Sign exactly as your name appears on the other side of the Note)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 32%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3.28%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 65%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 32%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Tax Identification No.:</div>
          </td>
          <td style="width: 3.28%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 65%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 32%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3.28%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 65%; vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 32%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Signature Guarantee:</div>
          </td>
          <td style="width: 3.28%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 65%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 32%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 3.28%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="width: 65%; vertical-align: top; font-size: 10pt;">
            <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman';">(Signature must be guaranteed)</div>
          </td>
        </tr>

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    <div style="font-size: 10pt;"><br>
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    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit
      unions with membership in an approved signature guarantee medallion program), pursuant to Exchange Act Rule 17Ad-15.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="font-size: 10pt;"> <br>
    </div>
    <div style="font-size: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">16</font></div>
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    <div style="font-size: 10pt;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>4
<FILENAME>ef20060926_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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  <div>
    <div style="font-size: 10pt; text-align: center;">
      <div style="font-weight: bold; text-align: right;"> Exhibit 5.1<br>
      </div>
      <div> <br>
      </div>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
      <table cellspacing="0" cellpadding="0" border="0" id="z802593bf6b35491d8d61a186de745e0e" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

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              <div>&#160;</div>
            </td>
            <td style="width: 30%;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">December 9, 2025</div>
            </td>
          </tr>

      </table>
    </div>
    <br>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">MercadoLibre, Inc.</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Dr. Luis Bonavita 1294, Of. 1733, Tower II</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Montevideo, Uruguay, 11300</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Ladies and Gentlemen:</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We have acted as special United States counsel to MercadoLibre, Inc., a Delaware corporation (the &#8220;<font style="font-family: 'Times New Roman';"><u>Company</u></font>&#8221;),
      MercadoLibre S.R.L., a limited liability company (<font style="font-family: 'Times New Roman'; font-style: italic;">sociedad de responsabilidad limitada</font>) organized under the laws of Argentina, Ibazar.com Atividades de Internet Ltda,
      eBazar.com.br Ltda., Mercado Envios Servicos de Logistica Ltda., MercadoPago.com Representa&#231;&#245;es Ltda., each a limited liability company (<font style="font-family: 'Times New Roman'; font-style: italic;">sociedade limitada</font>), organized under the
      laws of Brazil, MercadoLibre Chile Ltda. a limited liability company (<font style="font-family: 'Times New Roman'; font-style: italic;">sociedad de responsabilidad limitada</font>), organized under the laws of Chile, MercadoLibre, S. de R.L. de C.V.
      and DeRemate.com de Mexico S. de R.L. de C.V., each a limited liability company (<font style="font-family: 'Times New Roman'; font-style: italic;">sociedad de responsabilidad limitada de capital variable</font>) organized under the laws of Mexico,
      and MercadoLibre Colombia Ltda. a limited liability company (<font style="font-family: 'Times New Roman'; font-style: italic;">sociedad de responsabilidad limitada</font>), organized under the laws of Colombia (the &#8220;<font style="font-family: 'Times New Roman';"><u>Guarantors</u></font>&#8221;) in connection with the preparation and filing with the Securities and Exchange Commission (the &#8220;<font style="font-family: 'Times New Roman';"><u>Commission</u></font>&#8221;) under the Securities Act of 1933, as
      amended (the &#8220;<font style="font-family: 'Times New Roman';"><u>Securities Act</u></font>&#8221;), of a registration statement on Form S-3 (Registration Nos. 333-291604, 333-291604-01, 333-291604-02, 333-291604-03, 333-291604-04, 333-291604-05,
      333-291604-06, 333-291604-07, 333-291604-08) (including the documents incorporated by reference therein, but excluding Exhibit 25.1, is herein called the &#8220;<font style="font-family: 'Times New Roman';"><u>Registration Statement</u></font>&#8221;) and the
      prospectus, dated November 17, 2025, as supplemented by the prospectus supplement, dated December 4, 2025 (together, the &#8220;<font style="font-family: 'Times New Roman';"><u>Prospectus</u></font>&#8221;), relating to the Company&#8217;s offering of $750,000,000
      aggregate principal amount of 4.900% Notes due 2033 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Debt Securities</u></font>&#8221;) and the Guarantors&#8217; guarantees relating to the Debt Securities (the &#8220;<font style="font-family: 'Times New Roman';"><u>Guarantees</u></font>,&#8221;
      and together with the Debt Securities, the &#8220;<font style="font-family: 'Times New Roman';"><u>Securities</u></font>&#8221;).</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div class="BRPFPageHeader" style="width: 100%;">
        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">MercadoLibre Inc., p. 2</div>
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    <div style="text-align: left; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The Securities were issued pursuant to an indenture dated as of January 14, 2021 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Base Indenture</u></font>&#8221;),
      as amended and supplemented by the fourth supplemental indenture dated as of December 9, 2025 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Fourth Supplemental Indenture</u></font>&#8221;) entered into among the Company, the Additional Registrants
      and The Bank of New York Mellon Trust Company, N.A., as trustee, registrar, paying agent and transfer agent (the &#8220;<font style="font-family: 'Times New Roman';"><u>Trustee</u></font>&#8221;). As used herein, &#8220;Indenture&#8221; means the Base Indenture, as
      supplemented by the Fourth Supplemental Indenture.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In arriving at the opinions expressed below, we have reviewed the following documents:</div>
    <div style="font-size: 10pt;">&#160;</div>
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          <td style="width: 36pt;">&#160;</td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">the Registration Statement;</div>
          </td>
        </tr>

    </table>
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        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">the Prospectus and the documents incorporated by reference therein;</div>
          </td>
        </tr>

    </table>
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        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">executed copies of the Base Indenture and the Fourth Supplemental Indenture;</div>
          </td>
        </tr>

    </table>
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        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">executed copies of the Offer No. INMLA 01/2021, dated January 14, 2021, executed by the Company and the Trustee and the acceptance to such offer, dated January 14, 2021, executed by MercadoLibre
              S.R.L., relating to the Base Indenture;</div>
          </td>
        </tr>

    </table>
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        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">executed copies of the Offer No. INMLA 02/2025, dated December 9, 2025, executed by the Company and the Trustee and the acceptance to such offer, dated December 9, 2025, executed by MercadoLibre
              S.R.L., relating to the Fourth Supplemental Indenture;</div>
          </td>
        </tr>

    </table>
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          <td style="width: 36pt; font-size: 10pt;"><br>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(f)</td>
          <td style="width: auto; vertical-align: top; text-align: left; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">executed copies of the Offer No. INMLA 02/2025, dated December 9, 2025, executed by the Company and the Trustee and the acceptance to such offer, dated December 9, 2025, executed by MercadoLibre
              Colombia Ltda., relating to the Fourth Supplemental Indenture; and</div>
          </td>
        </tr>

    </table>
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        <tr>
          <td style="width: 36pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(g)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">facsimile copies of the Debt Securities in global form as executed by the Company and authenticated by the Trustee.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In addition, we have reviewed the originals or copies certified or otherwise identified to our satisfaction of all such corporate records of the
      Company and such other documents, and we have made such investigations of law, as we have deemed appropriate as a basis for the opinions expressed below.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In rendering the opinions expressed below, we have assumed the authenticity of all documents submitted to us as originals and the conformity to the
      originals of all documents submitted to us as copies. In addition, we have assumed and have not verified the accuracy as to factual matters of each document we have reviewed.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Based on the foregoing, and subject to the further assumptions and qualifications set forth below, it is our opinion that:</div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">The Debt Securities have been validly issued and are valid, binding and enforceable obligations of the Company, entitled to the benefits of the Indenture.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
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        <tr>
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          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">The Guarantees of the Debt Securities have been validly issued&#160; and are valid, binding and enforceable obligations of the Guarantors.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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      <div class="BRPFPageHeader" style="width: 100%;">
        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">MercadoLibre Inc., p. 3</div>
      </div>
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    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Insofar as the foregoing opinions relate to the validity, binding effect or enforceability of any agreement or obligation of the Company or the
      Guarantors, (a) we have assumed that the Company, the Guarantors and each other party to such agreement or obligation has satisfied those legal requirements that are applicable to it to the extent necessary to make such agreement or obligation
      enforceable against it (except that no such assumption is made as to the Company and the Guarantors regarding matters of the federal law of the United States of America, the law of the State of New York or the General Corporation Law of the State of
      Delaware that in our experience normally would be applicable to general business entities with respect to such agreement or obligation) and (b) such opinions are subject to applicable bankruptcy, insolvency and similar laws affecting creditors&#8217;
      rights generally and to general principles of equity and to the effect of judicial application of foreign laws or foreign governmental actions affecting creditors&#8217; rights.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We express no opinion as to the subject matter jurisdiction of any United States federal court to adjudicate any action relating to the Indenture or
      the Securities where jurisdiction based on diversity of citizenship under 28 U.S.C. &#167;1332 does not exist.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We note that the designation in Section 11.17 of the Base Indenture of the federal courts located in The Borough of Manhattan in the City of New York
      as a venue for actions or proceedings relating to the Indenture and the Securities is (notwithstanding the waiver in Section 11.17 of the Base Indenture) subject to the power of such courts to transfer actions pursuant to 28 U.S.C. &#167;1404(a) or to
      dismiss such actions or proceedings on the grounds that such a federal court is an inconvenient forum for such an action or proceeding.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We note that the enforceability of the waiver of immunities in Section 11.18 of the Base Indenture is subject to the limitations imposed by the U.S.
      Foreign Sovereign Immunities Act of 1976.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We express no opinion as to the enforceability Section 11.15 of the Base Indenture relating to currency indemnity.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The waiver of defenses contained in Section 3.1(b) of the Base Indenture may be ineffective to the extent that any such defense involves a matter of
      public policy in New York.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The foregoing opinions are limited to the federal law of the United States of America, the law of the State of New York and the General Corporation
      Law of the State of Delaware.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We hereby consent to the use of our name in the Prospectus under the heading &#8220;Legal Matters&#8221;, as counsel for the Company and the Guarantors that has
      passed on the validity of the Securities, and to the filing of this opinion as Exhibit 5.1 to the Company&#8217;s Current Report on Form 8-K dated December 9, 2025. In giving such consent, we do not thereby admit that we are within the category of persons
      whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder. The opinions expressed herein are rendered on and as of the date hereof, and we assume no obligation to advise you or any other
      person, or to make any investigations, as to any legal developments or factual matters arising subsequent to the date hereof that might affect the opinions expressed herein.</div>
    <div style="font-size: 10pt;">&#160;</div>
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      <div class="BRPFPageFooter" style="width: 100%;"></div>
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      <div class="BRPFPageHeader" style="width: 100%;">
        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">MercadoLibre Inc., p. 4</div>
      </div>
    </div>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td colspan="3" style="vertical-align: top; font-size: 10pt;">
            <div style="text-align: justify; font-family: 'Times New Roman';">Very truly yours,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td colspan="3" style="vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td colspan="3" style="vertical-align: top; font-size: 10pt;">
            <div style="text-align: justify; font-family: 'Times New Roman';">CLEARY GOTTLIEB STEEN &amp; HAMILTON LLP</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td colspan="3" style="vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
          <td style="width: 3%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">
            <div style="text-align: justify; font-family: 'Times New Roman';">By:</div>
          </td>
          <td style="width: 37%; vertical-align: top; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">/s/ Francesca L. Odell</td>
          <td style="width: 10%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
          <td style="vertical-align: top; font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';"><br>
            </div>
          </td>
          <td style="vertical-align: top; font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">Francesca L. Odell, a Partner</div>
          </td>
          <td style="vertical-align: top; font-size: 10pt;">&#160;</td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
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<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>5
<FILENAME>ef20060926_ex5-2.htm
<DESCRIPTION>EXHIBIT 5.2
<TEXT>
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    <div style="font-size: 10pt; text-align: right;"><font style="font-weight: bold;">Exhibit 5.2</font><br>
    </div>
    <div style="font-size: 10pt; text-align: left; font-family: 'Times New Roman';"><br>
    </div>

    <div>
      <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">December 9, 2025</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">MercadoLibre, Inc.</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Dr. Luis Bonavita 1294, Of. 1733, Tower II</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Montevideo, Uruguay, 11300</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Ladies and Gentlemen:</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We have acted as special Argentine legal counsel to MercadoLibre S.R.L., a limited liability company (<font style="font-family: 'Times New Roman'; font-style: italic;">sociedad de responsabilidad limitada</font>) organized under the laws of Argentina (the &#8220;<font style="font-family: 'Times New Roman';"><u>Guarantor</u></font>&#8221;), a subsidiary of MercadoLibre, Inc., a Delaware corporation (the
        &#8220;<font style="font-family: 'Times New Roman';"><u>Company</u></font>&#8221;), in connection with the preparation and filing with the Securities and Exchange Commission (the &#8220;<font style="font-family: 'Times New Roman';"><u>Commission</u></font>&#8221;) under
        the Securities Act of 1933, as amended (the &#8220;<font style="font-family: 'Times New Roman';"><u>Securities Act</u></font>&#8221;), of a registration statement on Form S-3 (Registration Nos. 333-291604, 333-291604-01, 333-291604-02, 333-291604-03,
        333-291604-04, 333-291604-05, 333-291604-06, 333-291604-07, 333-291604-08) (including the documents incorporated by reference therein, but excluding Exhibit 25.1, the &#8220;<font style="font-family: 'Times New Roman';"><u>Registration Statement</u></font>&#8221;)

        filed by the Company and the additional registrants identified therein, including the Guarantor (the &#8220;<font style="font-family: 'Times New Roman';"><u>Additional Registrants</u></font>&#8221;) and the prospectus, dated November 17, 2025, as supplemented
        by the prospectus supplement, dated December 4, 2025 (together, the &#8220;<font style="font-family: 'Times New Roman';"><u>Prospectus</u></font>&#8221;) relating to the Company&#8217;s offering of $750,000,000 aggregate principal amount of 4.900% Notes due 2033
        (the &#8220;<font style="font-family: 'Times New Roman';"><u>Debt Securities</u></font>&#8221;) and the Additional Registrants&#8217; guarantees relating to the Debt Securities (the &#8220;<font style="font-family: 'Times New Roman';"><u>Guarantees</u></font>,&#8221; and
        together with the Debt Securities, the &#8220;<font style="font-family: 'Times New Roman';"><u>Securities</u></font>&#8221;).</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The Securities were issued pursuant to an indenture dated as of January 14, 2021 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Base
            Indenture</u></font>&#8221;) entered into among the Company, the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as trustee, registrar, paying agent and transfer agent (the &#8220;<font style="font-family: 'Times New Roman';"><u>Trustee</u></font>&#8221;),

        as amended and supplemented by the fourth supplemental indenture dated as of December 9, 2025 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Fourth Supplemental Indenture</u></font>&#8221; and together with the Base Indenture, the &#8220;<font style="font-family: 'Times New Roman';"><u>Indenture</u></font>&#8221;) entered into among the Company, the Additional Registrants and the Trustee.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In arriving at the opinions expressed below, we have reviewed the following documents:</div>
      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(a)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the Registration Statement;</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
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            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(b)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the Prospectus and the documents incorporated by reference therein;</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 70.9pt; font-size: 10pt;"><br>
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(c)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">executed copies of the Base Indenture and the Fourth Supplemental Indenture;</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zb7aa0df50bf14f89bcb98e6968ed104c" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 70.9pt; font-size: 10pt;"><br>
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(d)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">executed copies of the Offer No. INMLA 01/2021, dated January 14, 2021 executed by the Company and the Trustee and the acceptance to such offer, dated January 14, 2021, executed by the Guarantor,
                relating to the Base Indenture;</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
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            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(e)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">executed copies of the Offer No. INMLA 02/2025, dated December 9, 2025, executed by the Company and the Trustee and the acceptance to such offer, dated December 9, 2025, executed by the Guarantor,
                relating to the Fourth Supplemental Indenture;</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z1a3effa85d224b3aba2c5a6e94cd8118" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.9pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(f)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">facsimile copies of the Debt Securities in global form as executed by the Company and authenticated by the Trustee;</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z26a1a239d39e4ab78bf72596e0a70b4f" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.9pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(g)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">certified copy of the by-laws of the Guarantor;</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zbcbdb613719443eb836d13f1a8968cd4" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.9pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(h)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">certified copy of the partners meeting dated November 5, 2025, approving the execution of the Guarantee;</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z3f5a665a0d8b4049b6ddb6fe1f7b2499" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.9pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(i)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">certified copy of the managers meeting dated November 5, 2025, approving the execution of the Guarantee; and</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zc2eadd25ad5e4b9ca19a5d4229ac329e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.9pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(j)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">such other documents, records and matters of law as we have deemed necessary.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In rendering the opinions expressed below, we have assumed the authenticity of all documents submitted to us as originals and the conformity to the
        originals of all documents submitted to us as copies. In addition, we have assumed and have not verified (i) the accuracy as to factual matters of each document we have reviewed, (ii) the existence of commercial relationships between the Guarantor
        and the Company as required by the bylaws of the Guarantor and (iii) the adequacy of the consideration received by the Guarantor from the Company to grant the Guarantee<font style="font-family: 'Times New Roman';">.</font></div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Based on the foregoing, and subject to the further assumptions and qualifications set forth below, it is our opinion that:</div>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z7634f8f81b964e4bb15933be7650f699" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.9pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 35.45pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">1.</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The Guarantor is validly existing, has the power to grant the Guarantees and has taken the required steps to authorize entering into the Guarantees under the law of the Republic of Argentina.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zae294bc32d564376bcb6f652bb493c91" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.9pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 35.45pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The Guarantees have been validly issued under the Indenture and are valid, binding and enforceable obligations of the Guarantor.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We have assumed that the Guarantor have satisfied the legal requirements that are applicable to them under applicable law other than the law of the
        Republic of Argentina to the extent necessary to make the Indenture, the Debt Securities and the Guarantee, as the case may be, enforceable against them. We have also assumed that each of the Company and the Trustee has satisfied the legal
        requirements that are applicable to it under applicable law other than the law of the Republic of Argentina to the extent necessary to make the Indenture enforceable against it.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The foregoing opinions are limited to the laws of the Republic of Argentina and subject to the following qualifications:</div>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="za272f78a31b24cf2b8caa96fa9fff616" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 56.7pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 51.3pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(A)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The ability of the Guarantor to perform obligations payable in non-Argentine currency (and the ability of any person to remit out of the Republic of Argentina the proceeds of any judgment awarded
                in non-Argentine currency) will be subject to the exchange regulations which may be in effect at the time of payment (or such remittance). As of the date of this opinion, the purchase of non-Argentine currency and transfer of such funds
                outside of the Republic of Argentina in compliance of the Guarantor&#180;s obligations under the Guarantee (or in compliance of a foreign judgment), is not permitted by the Central Bank of the Republic of Argentina. Moreover, the rules related
                to these restrictions and authorizations may vary over the time. In the future, the Argentine government may impose additional restrictions affecting the payment of obligations in foreign currency and/or the issuance of a judgment or order
                in foreign currency by an Argentine court or otherwise.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zdaf2686806e340bb98429b0062dd025e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 56.7pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 49.5pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(B)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Enforcement of foreign judgments against the Guarantor in Argentina, in case no international treaty is applicable, is subject to compliance with the requirements of Section 517 to 519 of the Civil
                and Commercial Procedural Code of Argentina, namely that:</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <table cellspacing="0" cellpadding="0" id="z35f8f7d7048e4710bfea6dfd856044df" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 106.35pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 21.25pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(i)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the judgment, which must be final in the jurisdiction where rendered, was issued by a court competent in accordance with Argentine laws regarding conflicts of laws and jurisdiction and other
                principles and rules of international law, and results from a personal action, or an <font style="font-family: 'Times New Roman'; font-style: italic;">in rem</font> action with respect to personal property, as opposed to real property,
                which was transferred to Argentine territory during or after the prosecution of the foreign action;</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z1c8b8741212a4f2bad8645d6b7221ed6" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 106.35pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 21.25pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(ii)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the defendant against whom enforcement of the judgment is sought was personally served with the summons and, in accordance with due process of law, was given an opportunity to defend against the
                foreign action;</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z327f190a7dc243e78d414d54b87fcae5" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 106.35pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 21.25pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(iii)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the judgment must be valid in the jurisdiction where rendered and its authenticity must be established in accordance with the requirements of Argentine law;</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zf80121cc5443448894fe37d3ee8ed141" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 106.35pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 21.25pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(iv)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the judgment does not violate the principles of public policy of Argentine law (including Argentine Law No. 24,871);</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z9f70c5c988bb49af953497723b91c872" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 106.35pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 21.25pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(v)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the judgment is not contrary to a prior or simultaneous judgment of an Argentine court; and</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zf5a57cd6bfd3416083c9e26e321e695c" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 106.35pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 21.25pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(vi)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">in respect of any document in a language other than Spanish (including, without limitation, the foreign judgment and other documents related thereto), a duly legalised translation by a sworn public
                translator into the Spanish language is submitted to the relevant court.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z0d9158e0096c4e8d80998e46511c9d09" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 56.7pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 49.65pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;(C)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Enforcement of any of the Indenture and the Securities in Argentina would be on the same terms as are available to residents and citizens of Argentina and will further require (i) that the
                particular Argentine courts before whom enforcement is sought be competent under the applicable laws of Argentina to solve the disputes brought before them in connection with the Indenture and the Securities, (ii) compliance with the
                appropriate procedural requirements for enforcement thereof (which requirements in all material respects are non-discretionary and administrative in nature), including, without limitation, exhaustion of mandatory mediation procedures if it
                is not excepted by the applicable local regulation, and payment of court taxes, which must be paid by the person filing a claim in court and which rates vary from one jurisdiction to another, and (iii) that Indenture and the Securities do
                not violate public policy as defined under the applicable laws of Argentina (including Argentine Law No. 24,871). The enforceability by Argentine courts of documents not governed by Argentine law is subject to the validity and
                enforceability thereof under the applicable laws that govern such foreign law-governed documents. Furthermore, enforcement of foreign judgments may be limited by the Enforceability Exceptions (defined below).</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <table cellspacing="0" cellpadding="0" id="z296b2932373d4f4db570eb822f3842f6" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 56.7pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 49.65pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;(E)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The rights and obligations of the Guarantor are subject to the effect of any applicable bankruptcy, liquidation, winding up, dissolution, insolvency, fraudulent transfer, receivership,
                reorganization, out-of-court debt-restructuring agreements, suspension of payments, moratorium or similar laws and regulations now or hereafter in effect relating to or affecting the enforcement of creditors&#8217; rights generally and to general
                principles of equity, including without limitation concepts of materiality, reasonableness, good faith and fair dealing (collectively, the &#8220;<font style="font-family: 'Times New Roman';"><u>Enforceability Exceptions</u></font>&#8221;). In
                particular, in the case of a bankruptcy declared against the Guarantor, certain secured creditors (including without limitation, certain creditors of the bankrupt party with a pledge or mortgage or with a preferred payment right created by
                the Argentine Bankruptcy Law N&#176; 24,522, as amended (the &#8220;<font style="font-family: 'Times New Roman';"><u>Argentine Bankruptcy Law</u></font>&#8221;) and creditors under and in connection with taxes, court related expenses, salaries and social
                security charges) are granted a preferential treatment. Also, in the case of bankruptcy declared against the Guarantor, the allowance of creditors whose claims are payable outside Argentina and which do not belong to a foreign bankruptcy
                proceeding is conditional upon submission of evidence that, reciprocally, a creditor whose claim is payable in Argentina may be allowed and paid <font style="font-family: 'Times New Roman'; font-style: italic;">pari passu</font> in
                bankruptcy proceedings commenced in the country where the claim of the former is payable, <font style="font-family: 'Times New Roman'; font-style: italic;">provided that</font> if the Guarantor is also declared bankrupt outside Argentina,
                the creditors that belong to the foreign bankruptcy will be entitled to claim only on the balance of assets in Argentina remaining after the claims of all creditors in the Argentine bankruptcy proceeding have been satisfied. In case of
                bankruptcy, under Section 127 of the Argentine Bankruptcy Law, the debtor&#8217;s obligations would be expressed in Argentine Pesos, at the exchange rate determined by the bankruptcy court to be in effect on the date the bankruptcy was declared
                by the bankruptcy court or, at the creditor&#8217;s option, on the maturity date of each such obligation, if earlier.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z6fdc209861394b0c9c616e6d6e5bb062" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 56.7pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 49.65pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(F)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The Argentine Bankruptcy Law provides that certain transactions entered into or performed by the bankrupt party within the period of time running from the date on which bankruptcy is declared by
                the court (or, if applicable, the date of the filing of the reorganization proceedings -<font style="font-family: 'Times New Roman'; font-style: italic;">concurso preventivo-</font>) and the time on which insolvency is determined by such
                court as having commenced, which period may not reach back longer than two years (the &#8220;<font style="font-family: 'Times New Roman';"><u>Review Period</u></font>&#8221;) shall not be valid <font style="font-family: 'Times New Roman'; font-style: italic;">vis a vis</font> other creditors of the bankrupt party.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 106.35pt; font-family: 'Times New Roman'; font-size: 10pt;">The Argentine Bankruptcy Law contemplates two types of reviewable or invalid transactions:</div>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z1844ed89dbde4f9e8860be2aa189a584" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 106.3pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 21.25pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(i)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';"> ipso iure (automatic) reviewable or invalid transactions vis a vis other creditors of the bankrupt party under Section 118 of the Argentine Bankruptcy Law, which transactions are exclusively the
                following: (a) transactions without consideration, (b) prepayments of non-matured debt before the date on which bankruptcy is declared, and (c) the granting of security or any other kind of priority right in respect of previous non-matured
                unsecured debt; and</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z80c99db6743447439594aa83d78434fa" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 106.3pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 21.3pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(ii)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">other transactions harmful or detrimental to other creditors of the bankrupt party made with knowledge of such party&#8217;s insolvency, which may be nullified or declared invalid by the court under
                Section 119 of the Argentine Bankruptcy Law, upon request of the bankruptcy trustee and/or any such creditor of the bankrupt party.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z06168dd2304645c89df7fb2453c7d9e4" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 56.7pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 49.65pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(H)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Under Section 118 of the Argentine Bankruptcy Law, lack of adequate consideration in exchange for granting a guarantee or security (the &#8220;<font style="font-family: 'Times New Roman';"><u>Security</u></font>&#8221;)

                to secure another person&#8217;s obligations during the Review Period, will result in the Security being considered ineffective with respect to the other creditors of the third party guarantor or grantor of security. If a bankruptcy court finds
                the Security to be ineffective with respect to such other creditors, the bankruptcy court may order that all proceeds resulting from enforcement of the Security be returned to the guarantor or grantor.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z3466a0bfa7d744d6bcc0ae8693b519d2" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 56.7pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 49.65pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(I)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Pursuant to Argentine law, the lack of validity of a principal obligation would cause the accessory or ancillary obligations, to lack validity as well.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We hereby consent to the use of our name in the Prospectus under the heading &#8220;Legal Matters&#8221;, as counsel for the Guarantor that has passed on the
        validity of its Guarantee under Argentine law, and to the filing of this opinion as Exhibit 5.2 to the Company&#8217;s Current Report on Form 8-K dated December 9, 2025. In giving such consent, we do not thereby admit that we are within the category of
        persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder. The opinions expressed herein are rendered on and as of the date hereof, and we assume no obligation to advise you or
        any other person, or to make any investigations, as to any legal developments or factual matters arising subsequent to the date hereof that might affect the opinions expressed herein. Cleary Gottlieb Steen &amp; Hamilton LLP may rely upon this
        opinion in rendering their opinion to the Company and the Additional Registrants.</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: left; text-indent: 36pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; margin-left: 36pt;">Very truly yours,</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" align="center" id="z96636b8c53ed4373897cfb898eea7be9" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 40%; vertical-align: top; font-size: 10pt;"><br>
            </td>
            <td style="width: 20%; vertical-align: top; font-size: 10pt;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">/s/ Juan M. Diehl Moreno</div>
            </td>
            <td style="width: 40%; vertical-align: top; font-size: 10pt;"><br>
            </td>
          </tr>
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            <td style="width: 40%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;" rowspan="1">&#160;</td>
            <td style="width: 20%; vertical-align: top; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">&#160;</td>
            <td style="width: 40%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;" rowspan="1">&#160;</td>
          </tr>
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            <td style="width: 40%; vertical-align: top; font-size: 10pt;"><br>
            </td>
            <td style="width: 20%; vertical-align: top; font-size: 10pt;"><br>
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            <td style="width: 40%; vertical-align: top; font-size: 10pt;"><br>
            </td>
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            </td>
            <td style="width: 20%; vertical-align: top; font-size: 10pt; text-align: center;">
              <div style="font-family: 'Times New Roman'; font-weight: bold; text-align: center;">Marval O&#8217;Farrell Mairal</div>
            </td>
            <td style="width: 40%; vertical-align: top; font-size: 10pt;"><br>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
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        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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<DOCUMENT>
<TYPE>EX-5.3
<SEQUENCE>6
<FILENAME>ef20060926_ex5-3.htm
<DESCRIPTION>EXHIBIT 5.3
<TEXT>
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         Document created using Broadridge PROfile 25.10.1.5333
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    <div>
      <div style="text-align: right;"><font style="font-weight: bold; font-size: 10pt;">Exhibit 5.3</font><font style="font-size: 10pt;"><br>
        </font></div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">December 9, 2025</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">MercadoLibre, Inc.</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Dr. Luis Bonavita 1294, Of. 1733, Tower II</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Montevideo, Uruguay, 11300</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Ladies and Gentlemen:</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We have acted as special Brazilian counsel to Ebazar.Com.Br Ltda., Ibazar.Com Atividades de Internet Ltda., Mercado Envios Servi&#231;os de Log&#237;stica
        Ltda. and Mercadopago.Com Representa&#231;&#245;es Ltda., limited liability companies (Ltda.) organized under the laws of Brazil (the &#8220;<font style="font-family: 'Times New Roman';"><u>Guarantors</u></font>&#8221;), all subsidiaries of MercadoLibre, Inc., a
        Delaware corporation (the &#8220;<font style="font-family: 'Times New Roman';"><u>Company</u></font>&#8221;), in connection with the preparation and filing with the Securities and Exchange Commission (the &#8220;<font style="font-family: 'Times New Roman';"><u>Commission</u></font>&#8221;)
        under the Securities Act of 1933, as amended (the &#8220;<font style="font-family: 'Times New Roman';"><u>Securities Act</u></font>&#8221;), of a registration statement on Form S-3 (Registration Nos. 333-291604, 333-291604-01, 333-291604-02, 333-291604-03,
        333-291604-04, 333-291604-05, 333-291604-06, 333-291604-07, 333-291604-08) (including the documents incorporated by reference therein, but excluding Exhibit 25.1, the &#8220;<font style="font-family: 'Times New Roman';"><u>Registration Statement</u></font>&#8221;)
        filed by the Company and the additional registrants identified therein, including the Guarantors (the &#8220;<font style="font-family: 'Times New Roman';"><u>Additional Registrants</u></font>&#8221;) and the prospectus, dated November 17, 2025, as supplemented
        by the prospectus supplement, dated December 4, 2025 (together, the &#8220;<font style="font-family: 'Times New Roman';"><u>Prospectus</u></font>&#8221;), relating to the Company&#8217;s offering of $750,000,000 aggregate principal amount of 4.900% Notes due 2033
        (the &#8220;<font style="font-family: 'Times New Roman';"><u>Debt Securities</u></font>&#8221;) and the Additional Registrants&#8217; guarantees relating to the Debt Securities (the &#8220;<font style="font-family: 'Times New Roman';"><u>Guarantees</u></font>,&#8221; and
        together with the Notes, the &#8220;<font style="font-family: 'Times New Roman';"><u>Securities</u></font>&#8221;).</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The Securities were issued pursuant to an indenture dated as of January 14, 2021 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Base
            Indenture</u></font>&#8221;) entered into among the Company, the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as trustee, registrar, paying agent and transfer agent (the &#8220;<font style="font-family: 'Times New Roman';"><u>Trustee</u></font>&#8221;),
        as amended and supplemented by the fourth supplemental indenture dated as of December 9, 2025 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Fourth Supplemental Indenture</u></font>&#8221;, and together with the Base Indenture, the &#8220;<font style="font-family: 'Times New Roman';"><u>Indenture</u></font>&#8221;) entered into among the Company, the Additional Registrants and the Trustee.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In arriving at the opinions expressed below, we have reviewed the following documents:</div>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1d505953c8c949b993eb52739955b537">

          <tr>
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(a)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the Registration Statement;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z12ec223dc4694302897ab0d5ed408e26">

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            <td style="width: 36pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(b)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the Prospectus and the documents incorporated by reference therein;</div>
            </td>
          </tr>

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            <td style="width: 36pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(c)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">executed copies of the Base Indenture and the Fourth Supplemental Indenture;</div>
            </td>
          </tr>

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            <td style="width: 36pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(d)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">facsimile copies of the Debt Securities in global form as executed by the Company and authenticated by the Trustee;</div>
            </td>
          </tr>

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            <td style="width: 36pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(e)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the Guarantors&#8217; articles of association; and</div>
            </td>
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            <td style="width: 36pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(f)</td>
            <td style="vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">such other documents, records and matters of law as we have deemed necessary.</div>
            </td>
          </tr>

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      <div style="font-size: 10pt;">&#160;</div>
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      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In rendering the opinions expressed below, we have assumed the authenticity of all documents submitted to us as originals and the conformity to the
        originals of all documents submitted to us as copies. In addition, we have assumed and have not verified the accuracy as to factual matters of each document we have reviewed.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Based on the foregoing, and subject to the further assumptions and qualifications set forth below, it is our opinion that:</div>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zde71eba3f90d412fb216372c9fb3b6c5">

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            <td style="width: 36pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">1.</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The Guarantors are validly existing, have the powers to grant the Guarantees and have taken the required steps to authorize entering into the Guarantees under the laws of Brazil.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze8acdb08a59a4415ab80d487a73eb08d">

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            <td style="width: 36pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The Guarantees have been validly issued under the Indenture and are valid, binding and enforceable obligations of the Guarantors.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We have assumed that the Guarantors have satisfied the legal requirements that are applicable to them under applicable law other than the law of
        Brazil to the extent necessary to make the Indenture, the Debt Securities and the Guarantees, as the case may be, enforceable against them. We have also assumed that each of the Company and the Trustee has satisfied the legal requirements that are
        applicable to it under applicable law other than the law of Brazil to the extent necessary to make the Indenture enforceable against it.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The foregoing opinions are limited to the laws of Brazil.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We hereby consent to the use of our name in the Prospectus under the heading &#8220;Legal Matters&#8221;, as counsel for the Guarantors that has passed on the
        validity of its Guarantees under Brazilian law, and to the filing of this opinion as&#160; Exhibit 5.3 to the Company&#8217;s Current Report on Form 8-K dated December 9, 2025. In giving such consent, we do not thereby admit that we are within the category of
        persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder. The opinions expressed herein are rendered on and as of the date hereof, and we assume no obligation to advise you or
        any other person, or to make any investigations, as to any legal developments or factual matters arising subsequent to the date hereof that might affect the opinions expressed herein. Cleary Gottlieb Steen &amp; Hamilton LLP may rely upon this
        opinion in rendering their opinion to the Company and the Additional Registrants.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z94df1ca80dde415d8f46fb530ddb4d61">

          <tr>
            <td colspan="1" style="width: 40%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Alexandre Verri</font></div>
            </td>
            <td colspan="1" style="width: 40%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="width: 40%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td rowspan="1" style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td rowspan="1" colspan="1" style="width: 40%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          </tr>
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            <td rowspan="1" colspan="1" style="width: 40%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td rowspan="1" style="width: 20%; vertical-align: top; font-size: 10pt;"><br>
            </td>
            <td rowspan="1" colspan="1" style="width: 40%; vertical-align: top; font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td colspan="1" style="width: 40%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 20%; vertical-align: top; font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Veirano Advogados</div>
            </td>
            <td colspan="1" style="width: 40%; vertical-align: top; font-size: 10pt;">&#160;</td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="font-size: 10pt;">&#160;
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<DOCUMENT>
<TYPE>EX-5.4
<SEQUENCE>7
<FILENAME>ef20060926_ex5-4.htm
<DESCRIPTION>EXHIBIT 5.4
<TEXT>
<html>
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    <title></title>
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <div> <font style="font-size: 10pt;"> </font>
    <div>
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      <div>
        <div style="text-align: right; text-indent: -6.75pt; margin-left: 297.35pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit 5.4</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: right; text-indent: -6.75pt; margin-left: 297.35pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal;">December 9, 2025</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><br>
        </div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">MercadoLibre, Inc.</div>
        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Dr. Luis Bonavita 1294, Of. 1733, Tower II</div>
        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Montevideo, Uruguay, 11300</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Ladies and Gentlemen:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We have acted as special Mexican counsel to DeRemate.com de M&#233;xico, S. de R.L. de C.V. and MercadoLibre, S. de R.L. de C.V. (jointly, the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Mexican Guarantors</u></font>&#8221;), each of them a <font style="font-family: 'Times New Roman'; font-style: italic;">sociedad de responsabilidad limitada de capital variable</font>
          organized under the laws of the United Mexican States (&#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Mexico</u></font>&#8221;), and a subsidiary of MercadoLibre, Inc., a Delaware corporation (the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Company</u></font>&#8221;), in connection with the preparation and filing with the Securities and Exchange Commission (the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Commission</u></font>&#8221;)
          under the Securities Act of 1933, as amended (the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Securities Act</u></font>&#8221;), of a registration statement on Form S-3 (Registration No. <a name="z_Hlk215948823"></a>333-291604,

          333-291604-01, 333-291604-02, 333-291604-03, 333-291604-04, 333-291604-05, 333-291604-06, 333-291604-07, 333-291604-08) (including the documents incorporated by reference therein, but excluding Exhibit 25.1, the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Registration Statement</u></font>&#8221;) filed by the Company and the additional registrants identified therein, including the Mexican Guarantors (the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Additional Registrants</u></font>&#8221;) and the prospectus, dated November 17, 2025, as supplemented by the prospectus supplement, dated December 4, 2025 (together, the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Prospectus</u></font>&#8221;),

          <a name="z_Hlk215952160"></a>relating to the Company&#8217;s offering of $750,000,000 aggregate principal amount of 4.900% Notes due 2033 (the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Debt Securities</u></font>&#8221;) and the
          Additional Registrants&#8217; guarantees relating to the Debt Securities (the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Guarantees</u></font>,&#8221; and together with the Debt Securities, the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Securities</u></font>&#8221;).</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The Securities were issued pursuant to an indenture dated as of January 14, 2021 (the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Base Indenture</u></font>&#8221;) entered into among the Company, the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as trustee, registrar, paying agent and transfer agent (the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Trustee</u></font>&#8221;), as amended and supplemented by the fourth supplemental indenture dated as of December 9, 2025 (the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Fourth
              Supplemental Indenture</u></font>&#8221;, and together with the Base Indenture, the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Indenture</u></font>&#8221;) entered into among the Company, the Additional Registrants and the
          Trustee.</div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
        </div>
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            <div>
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                  <tr>
                    <td style="width: 100%; text-align: center;">2</td>
                  </tr>
                  <tr>
                    <td style="width: 100.00%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 100.00%;">
                      <div>MercadoLibre, Inc.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In arriving at the opinions expressed below, we have reviewed the following documents:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">1.</font><font style="font-size: 10pt;">&#160; &#160; <font style="font-family: 'Times New Roman';">the Registration
              Statement;</font></font></div>
        <div style="font-size: 10pt;"><br>
        </div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">2.</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the Prospectus and
              the documents incorporated by reference therein;</font></font></div>
        <div style="font-size: 10pt;"><br>
        </div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">3.</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">executed copies of
              the Base Indenture and the Fourth Supplemental Indenture;</font></font></div>
        <div style="font-size: 10pt;"><br>
        </div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">4.</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">facsimile copies of
              the Debt Securities in global form as executed by the Company and authenticated by the Trustee;</font></font></div>
        <div style="font-size: 10pt;"><br>
        </div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">5.</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">the Mexican
              Guarantors&#8217; by-laws; and</font></font></div>
        <div style="font-size: 10pt;"><br>
        </div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">6.</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">such other
              documents, records and matters of law as we have deemed necessary.</font></font></div>
        <div style="font-size: 10pt;"><br>
        </div>
        <div style="text-align: justify; text-indent: 70.9pt; font-family: 'Times New Roman'; font-size: 10pt;">The documents in items (1) and (4) referred to herein as the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Transaction
              Documents</u></font>&#8221;.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In rendering the opinions expressed below, we have assumed the authenticity of all documents submitted to us as originals and the conformity to
          the originals of all documents submitted to us as copies. As to matters of fact, we have assumed the truthfulness of the representations made or otherwise incorporated in the Transaction Documents and representations and statements made in
          certificates of public officials and officers of the parties thereto, and that: <font style="font-family: 'Times New Roman'; font-weight: bold;">(i)</font> the Company, the Trustee and the non-Mexican Additional Registrants (collectively, the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Foreign Parties</u></font>&#8221;) are entities duly organized and validly existing under the laws of the jurisdiction of its organization; <font style="font-family: 'Times New Roman'; font-weight: bold;">(ii)</font> each Foreign Party has the power to execute, deliver and perform its respective obligations under the Transaction Documents; and <font style="font-family: 'Times New Roman'; font-weight: bold;">(iii)</font> the
          delivery and performance by each Foreign Party of the Transaction Documents, by each Foreign Party, has been duly authorized by all necessary action (corporate or otherwise) and does not contravene its by-laws or articles of incorporation or any
          other of its organizational documents.</div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
        </div>
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            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;" id="zb85f271fa0fb4c0c806fe69a3aa30550">

                  <tr>
                    <td style="width: 100%; text-align: center;">3</td>
                  </tr>
                  <tr>
                    <td style="width: 100.00%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 100.00%;">
                      <div>MercadoLibre, Inc.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Based on the foregoing, and subject to the further assumptions, qualifications and exceptions set forth below, it is our opinion that:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">1.</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Each Mexican
              Guarantor is validly existing, has the power to grant the Guarantees and has taken the required steps to authorize entering into the Guarantees under the law of Mexico.</font></font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">2.</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">The Guarantees issued
              under the Base Indenture as amended and supplemented by the Fourth Supplemental Indenture granted by the Mexican Guarantors are valid, binding and enforceable obligations of the Mexican Guarantors.</font></font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We have assumed that the Mexican Guarantors have satisfied the legal requirements that are applicable to them under applicable law other than the
          law of Mexico to the extent necessary to make the Indenture, the Debt Securities and the Guarantees, as the case may be, enforceable against them. We have also assumed that each of the Foreign Parties has satisfied the legal requirements that are
          applicable to it under applicable law other than the law of Mexico to the extent necessary to make the Indenture and the Debt Securities enforceable against it.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In rendering the opinions expressed above, we have further assumed that the Debt Securities were offered, issued, sold and delivered in compliance
          with applicable law.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The opinions set forth above are subject to the following qualifications and exceptions:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">1.</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The enforceability
              of the Guarantees may be limited by bankruptcy, insolvency, reorganization, moratorium, a Mexican reorganization proceeding (<font style="font-family: 'Times New Roman'; font-style: italic;">concurso mercantil</font>)<font style="font-family: 'Times New Roman'; font-style: italic;">, </font>bankruptcy (<font style="font-family: 'Times New Roman'; font-style: italic;">quiebra</font>) or other laws relating to, affecting or limiting the enforcement of creditors&#8217; rights generally.</font></font></div>
        <div style="font-size: 10pt;"><br>
        </div>
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            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;" id="z392d8a44870340a491fd700182f6eb58">

                  <tr>
                    <td style="width: 100%; text-align: center;">4</td>
                  </tr>
                  <tr>
                    <td style="width: 100.00%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 100.00%;">
                      <div>MercadoLibre, Inc.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">2.</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Public and procedural
              rights, such as the right to seek compensation in court or the right to appear in a suit, may not be waived under applicable laws.</font></font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">3.</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Pursuant to the
              Mexican Insolvency Law (<font style="font-family: 'Times New Roman'; font-style: italic;">Ley de Concursos Mercantiles</font>), if a transaction entered into by a person (legal entity or individual)declared insolvent and subject to a Mexican
              reorganization proceeding (<font style="font-family: 'Times New Roman'; font-style: italic;">concurso mercantil</font>) is deemed to constitute a fraudulent conveyance (<font style="font-family: 'Times New Roman'; font-style: italic;">acto en
                fraude de acreedores</font>), the court could set such transaction aside (<font style="font-family: 'Times New Roman'; font-style: italic;">i.e.</font>, ineffective <font style="font-family: 'Times New Roman'; font-style: italic;">vis-&#224;-vis</font>
              the bankruptcy estate) if the transaction took place within the 270 (two hundred seventy) calendar days prior to the insolvency ruling (<font style="font-family: 'Times New Roman'; font-style: italic;">declaraci&#243;n de concurso</font>) and, in
              some cases, up to 3 (three) years. The following are presumed to be fraudulent: <font style="font-family: 'Times New Roman'; font-weight: bold;">(i)</font> gratuitous transactions; <font style="font-family: 'Times New Roman'; font-weight: bold;">(ii)</font> transactions under which the debtor pays consideration of a substantially higher value, or receives consideration of a substantially lower value than that of its counterparty; <font style="font-family: 'Times New Roman'; font-weight: bold;">(iii)</font> transactions in which conditions or terms significantly differ from then-prevailing market conditions or trade usage or commercial practices; <font style="font-family: 'Times New Roman'; font-weight: bold;">(iv)</font>
              any debt remission made by the debtor; <font style="font-family: 'Times New Roman'; font-weight: bold;">(v)</font> any payment of un-matured obligations; and <font style="font-family: 'Times New Roman'; font-weight: bold;">(vi)</font> the
              discount of debtor&#8217;s payables by such debtor. For a transaction to be deemed a fraudulent conveyance, the insolvent party must have a deliberate fraudulent intent and the third party must know of such fraud. The latter is not required for
              gratuitous transactions.</font></font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">4.</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Covenants and other
              agreements to perform an act other than payment of money and covenants and other agreements not to perform an act may not be specifically enforceable in Mexico, although any breach thereof may give rise to an action for monetary damages.</font></font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">5.</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Any provisions in the
              Guarantees to the effect that invalidity and illegality of any part thereof will not invalidate the remaining obligations of such Guarantees may be unenforceable in Mexico to the extent such provision constitutes an essential element of the
              relevant Guarantee, respectively.</font></font></div>
        <div style="font-size: 10pt;">&#160;</div>
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            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;" id="za94b5cb65c714079aa94be306b192cd4">

                  <tr>
                    <td style="width: 100%; text-align: center;">5</td>
                  </tr>
                  <tr>
                    <td style="width: 100.00%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 100.00%;">
                      <div>MercadoLibre, Inc.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">6.</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Provisions permitting
              sole determination by one party and comparable provisions vesting in one party the sole power to determine the validity or performance of an obligation or purporting to be &#8220;self-help&#8221; enforcement mechanisms are not enforceable in Mexico.
              Provisions of the Guarantees granting discretionary authority to the parties thereto cannot be exercised in a manner inconsistent with relevant facts nor defeat any requirements from a competent authority to produce satisfactory evidence as
              to the basis of any determination. In addition, under Mexican law, the parties will have the right to contest in court any notice or certificate purporting to be conclusive and binding.</font></font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">7.</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">In any proceedings
              brought to the courts of Mexico for the enforcement of any Guarantee against any of the Mexican Guarantors or a foreign judgment or award thereunder, a Mexican court would apply Mexican procedural law in such proceedings, as well as Mexican
              law on statute of limitations and lapsing (<font style="font-family: 'Times New Roman'; font-style: italic;">prescripci&#243;n y caducidad</font>). We express no opinion as to the enforceability of a foreign judgment arising from any suit brought
              once the Mexican statute of limitation or lapsing periods have elapsed.</font></font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">8.</font><font style="font-size: 10pt;">&#160;&#160; <font style="font-family: 'Times New Roman';">Under the Mexican
              Bankruptcy Law (<font style="font-family: 'Times New Roman'; font-style: italic;">Ley de Concursos Mercantiles</font>) any provision in an agreement that makes the obligations of a party more onerous due to the fact of a filing for insolvency
              or bankruptcy shall be considered null and void.</font></font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 70.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">9.</font><font style="font-size: 10pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">This opinion letter
              is limited strictly to the matters stated herein and is not to be read as extending by implication to any other matter.</font></font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The foregoing opinions are limited to the laws of Mexico in effect as of the date hereof, and we do not express any opinion as to the laws of any
          other jurisdiction. In particular, we have made no investigation of the laws of the United States of America or of the State of New York in particular or any other relevant jurisdiction outside of Mexico as a basis for the opinions stated herein
          and we do not express or imply any opinion on, or based on, the criteria or standards provided for in any such laws.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We hereby consent to the use of our name in the Prospectus under the heading &#8220;Legal Matters&#8221;, as counsel for the Mexican Guarantors that have
          passed on the validity of their respective Guarantee under Mexican law, and to the filing of this opinion as Exhibit 5.4 to the Company&#8217;s Current Report on Form 8-K dated December 9, 2025. In giving such consent, we do not thereby admit that we
          are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder. The opinions expressed herein are rendered on and as of the date hereof, and we assume
          no obligation to advise you or any other person, or to make any investigations, as to any legal developments or factual matters arising subsequent to the date hereof that might affect the opinions expressed herein. Cleary Gottlieb Steen &amp;
          Hamilton LLP may rely upon this opinion in rendering their opinion to the Company and the Additional Registrants. </div>
        <br>
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              <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;" id="z8653a435af8041639093fd376971b8e0">

                  <tr>
                    <td style="width: 100%; text-align: center;">6</td>
                  </tr>
                  <tr>
                    <td style="width: 100.00%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 100.00%;">
                      <div>MercadoLibre, Inc.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="zcdce47d8e13448ad98588a366bb8556f" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 50%; vertical-align: top; font-size: 10pt;" colspan="1"><br>
              </td>
              <td style="vertical-align: top; font-size: 10pt;" colspan="3" rowspan="1">
                <div style="text-align: left; font-family: 'Times New Roman';">Sincerely,</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; font-size: 10pt;" colspan="1"><br>
              </td>
              <td style="vertical-align: top; font-size: 10pt;" colspan="3" rowspan="1"><br>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; font-size: 10pt;" colspan="1"><br>
              </td>
              <td style="vertical-align: top; font-size: 10pt;" colspan="3" rowspan="1">
                <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold;">Nader, Hayaux y Goebel, S.C.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; font-size: 10pt;" colspan="1"><br>
              </td>
              <td style="vertical-align: top; font-size: 10pt;" colspan="3" rowspan="1"><br>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;" colspan="1"><br>
              </td>
              <td style="width: 3%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;" colspan="1">By </td>
              <td style="width: 23%; vertical-align: top; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: left; font-family: 'Times New Roman'; margin-left: 9pt;"><font style="font-family: 'Times New Roman';">/s/ Javier Arreola E.&#160;</font></div>
              </td>
              <td style="width: 23.5%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; font-size: 10pt;" colspan="1"><br>
              </td>
              <td style="width: 3%; vertical-align: top; font-size: 10pt;" colspan="1"><br>
              </td>
              <td colspan="2" style="vertical-align: top; font-size: 10pt;">
                <div style="text-align: left; font-family: 'Times New Roman';">Javier Arreola E.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; font-size: 10pt;" colspan="1"><br>
              </td>
              <td style="width: 3%; vertical-align: top; font-size: 10pt;" colspan="1"><br>
              </td>
              <td colspan="2" style="vertical-align: top; font-size: 10pt;">
                <div style="text-align: left; font-family: 'Times New Roman';">Partner</div>
              </td>
            </tr>

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<DOCUMENT>
<TYPE>EX-5.5
<SEQUENCE>8
<FILENAME>ef20060926_ex5-5.htm
<DESCRIPTION>EXHIBIT 5.5
<TEXT>
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      <div style="text-align: right; text-indent: 26.65pt; margin-left: 297.35pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit 5.5</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: right; text-indent: 26.65pt; margin-left: 297.35pt; font-family: 'Times New Roman'; font-size: 10pt;">December 9, 2025</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">MercadoLibre, Inc.</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Dr. Luis Bonavita 1294, Of. 1733, Tower II</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Montevideo, Uruguay, 11300</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Ladies and Gentlemen:</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We have acted as special Chilean counsel to MercadoLibre Chile Ltda. a limited liability partnership (<font style="font-family: 'Times New Roman'; font-style: italic;">sociedad de responsabilidad limitada</font>) organized and existing under the laws of the Republic of Chile (the &#8220;<font style="font-family: 'Times New Roman';"><u>Guarantor</u></font>&#8221;), a subsidiary of MercadoLibre, Inc., a
        Delaware corporation (the &#8220;<font style="font-family: 'Times New Roman';"><u>Company</u></font>&#8221;), in connection with the preparation and filing with the Securities and Exchange Commission (the &#8220;<font style="font-family: 'Times New Roman';"><u>Commission</u></font>&#8221;)

        under the Securities Act of 1933, as amended (the &#8220;<font style="font-family: 'Times New Roman';"><u>Securities Act</u></font>&#8221;), of a registration statement on Form S-3 (Registration Nos. 333-291604, 333-291604-01, 333-291604-02, 333-291604-03,
        333-291604-04, 333-291604-05, 333-291604-06, 333-291604-07, 333-291604-08) (including the documents incorporated by reference therein, but excluding Exhibit 25.1, the &#8220;<font style="font-family: 'Times New Roman';"><u>Registration Statement</u></font>&#8221;)

        filed by the Company and the additional registrants identified therein, including the Guarantor (the &#8220;<font style="font-family: 'Times New Roman';"><u>Additional Registrants</u></font>&#8221;) and the prospectus, dated November 17, 2025, as supplemented
        by the prospectus supplement, dated December 4, 2025 (together, the &#8220;<font style="font-family: 'Times New Roman';"><u>Prospectus</u></font>&#8221;) relating to the Company&#8217;s offering of $750,000,000 aggregate principal amount of 4.900% Notes due 2033
        (the &#8220;<font style="font-family: 'Times New Roman';"><u>Debt Securities</u></font>&#8221;) and the Additional Registrants&#8217; guarantees relating to the Debt Securities (the &#8220;<font style="font-family: 'Times New Roman';"><u>Guarantees</u></font>,&#8221; and
        together with the Debt Securities, the &#8220;<font style="font-family: 'Times New Roman';"><u>Securities</u></font>&#8221;).</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The Securities were issued pursuant to an indenture dated as of January 14, 2021 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Base
            Indenture</u></font>&#8221;) entered into among the Company, the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as trustee, registrar, paying agent and transfer agent (the &#8220;<font style="font-family: 'Times New Roman';"><u>Trustee</u></font>&#8221;),

        as amended and supplemented<font style="font-family: 'Times New Roman';">&#160;</font>by the fourth supplemental indenture dated as of December 9, 2025 (the &#8220;<font style="font-family: 'Times New Roman';"><u>Fourth Supplemental Indenture</u></font>&#8221;, and
        together with the Base Indenture, the &#8220;<font style="font-family: 'Times New Roman';"><u>Indenture</u></font>&#8221;)<font style="font-family: 'Times New Roman';">&#160;</font>entered into among the Company, the Additional Registrants and the Trustee.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In connection with the opinions expressed herein, we have examined originals or copies certified or otherwise identified to our satisfaction of the
        following documents:</div>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z72baab7063ad481082ede9c949077c6b" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(a)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the Registration Statement;</div>
            </td>
          </tr>

      </table>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(b)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the Prospectus and the documents incorporated by reference therein;</div>
            </td>
          </tr>

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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(c)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">executed copies of the Base Indenture and the Fourth Supplemental Indenture;</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(d)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">facsimile copies of the Debt Securities in global form as executed by the Company and authenticated by the Trustee;</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(e)</td>
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              <div style="font-family: 'Times New Roman';">the constituting organizational deeds (<font style="font-family: 'Times New Roman'; font-style: italic;">estatutos</font>) of the Guarantor; and</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(f)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">the corporate resolutions of the partners of the Guarantor listed on <font style="font-family: 'Times New Roman';"><u>Schedule 1</u></font> hereto.</div>
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      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In addition, we have reviewed and, as to questions of fact, relied to the extent we have deemed appropriate, upon such other documents, instruments
        and other certificates of public officials, officers and representatives of the Guarantor, except to the extent that such representations cover matters of law as to which we expressly opine herein, and we have made such investigations of law, as we
        have deemed necessary or appropriate as a basis for the opinions expressed below.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">In rendering the opinions expressed below, we have assumed without verification: (i) the authenticity of all documents and records submitted to us
        as originals and the conformity to the originals of all documents and records submitted to us as copies, (ii) the authenticity and genuineness of all signatures on the documents reviewed by us in connection therewith, (iii) the legal capacity of
        all natural persons, and (iv) the due organization and existence of each of the parties to the Registration Statement, the Indenture and the Securities (except for the Guarantor).</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">Based on the foregoing, and subject to the further assumptions and qualifications set forth below, it is our opinion that:</div>
      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">1.</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The Guarantor has been duly organized and is validly existing as a <font style="font-family: 'Times New Roman'; font-style: italic;">sociedad de responsabilidad limitada</font> under the laws of
                the Republic of Chile, has full right, power and authority to execute and deliver the Guarantees and has taken the required steps to authorize entering into the Guarantees under the laws of the Republic of Chile.</div>
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      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 17.85pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The Guarantees have been validly issued under the Indenture and are valid and legally binding obligations of the Guarantor, enforceable against it in accordance with their terms.</div>
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      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">We have assumed that the Guarantor has satisfied the legal requirements that are applicable to it under applicable law other than the laws of the
        Republic of Chile to the extent necessary to make the Indenture, the Debt Securities and the Guarantees, as the case may be, enforceable against it. We have also assumed that each of the Company and the Trustee has satisfied the legal requirements
        that are applicable to it under applicable law other than the laws of the Republic of Chile to the extent necessary to make the Indenture enforceable against it.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">The foregoing opinions are subject to the following qualifications:</div>
      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 13.5pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(a)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The opinions expressed in this letter are limited to questions arising under the laws of the Republic of Chile as currently in effect, and we do not purport to express an opinion on any question
                arising under the laws of any other jurisdiction.</div>
            </td>
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      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 13.5pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(b)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The opinions expressed in this opinion letter are subject to the effect of (i) applicable bankruptcy, liquidation, insolvency, reorganization, moratorium or similar laws now or hereafter in effect
                relating to or affecting creditors&#8217; rights generally, and (ii) general principles of equity, including, without limitation, concepts of materiality, reasonableness, good faith and fair dealing (regardless of whether considered in a
                proceeding in equity or at law).</div>
            </td>
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      </table>
      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 13.5pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(c)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">The Guarantees granted by the Guarantor may be considered as gratuitous acts for purposes of Chilean law.</div>
            </td>
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      <div style="font-size: 10pt;">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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            <td style="width: 13.5pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(d)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">We express no opinion on any section of the Guarantees requiring a party to indemnify other parties against any loss incurred by them as a result of any judgment or order being given or made in a
                currency other than the currency in which payment is due under the Guarantees.</div>
            </td>
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      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 13.5pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(e)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">This opinion is effective only as of the date hereof. We expressly disclaim any responsibility to advise you of any development or circumstance of any kind including any change of law or fact that
                may occur after the date of this letter even though such development, circumstance or change may affect the legal analysis, a legal conclusion or any other matter set forth in or relating to this letter. Accordingly, any person relying on
                this letter at any time after the date hereof should seek advice of its counsel as to the proper application of this letter at such time.</div>
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      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">This opinion letter is given solely for your benefit in connection with the above-described transaction. This opinion letter may not be used,
        circulated, quoted or relied upon by you for any other purpose or relied by any other person without our prior written consent; <font style="font-family: 'Times New Roman'; font-style: italic;">provided</font> that we hereby consent to the use of
        our name in the Prospectus under the heading &#8220;Legal Matters&#8221;, as Chilean counsel for the Guarantor that has passed on the validity of its Guarantees under Chilean law, and to the filing of this opinion as Exhibit 5.5 to the Company&#8217;s Current Report
        on Form 8-K dated December 9, 2025. In giving such consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission
        thereunder. Cleary Gottlieb Steen &amp; Hamilton LLP may rely upon this opinion in rendering their opinion to the Company and the Additional Registrants.</div>
      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 20%; vertical-align: top; font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Very truly yours,</div>
            </td>
            <td style="width: 30%; vertical-align: top; font-size: 10pt;" colspan="1">&#160;</td>
          </tr>
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            <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 20%; vertical-align: top; font-size: 10pt;"><br>
            </td>
            <td style="width: 30%; vertical-align: top; font-size: 10pt;" colspan="1">&#160;</td>
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            <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 20%; vertical-align: top; font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">/s/ Luisa N&#250;&#241;ez P.</div>
            </td>
            <td style="width: 30%; vertical-align: top; font-size: 10pt;" colspan="1">&#160;</td>
          </tr>
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            <td style="width: 50%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;" rowspan="1">&#160;</td>
            <td style="width: 20%; vertical-align: top; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1"><br>
            </td>
            <td style="width: 30%; vertical-align: top; font-size: 10pt; padding-bottom: 2px;" rowspan="1" colspan="1">&#160;</td>
          </tr>
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            <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 20%; vertical-align: top; font-size: 10pt;"><br>
            </td>
            <td style="width: 30%; vertical-align: top; font-size: 10pt;" colspan="1">&#160;</td>
          </tr>
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            <td style="width: 50%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 20%; vertical-align: top; font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-variant: small-caps;">Claro &amp; Cia.</div>
            </td>
            <td style="width: 30%; vertical-align: top; font-size: 10pt;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Schedule 1</div>
      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">-</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Acuerdo de Socios y Poder Especial</font><font style="font-size: 10pt;"> executed by public deed
                  dated November 10, 2025, in the Notarial Office of Santiago of Mr. Eduardo Javier Diez Morello.</font></div>
            </td>
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      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z28cf4ac5a94e4211a15a6d35db32cb84" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">-</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Acuerdo de Socios y Poder Especial</font><font style="font-size: 10pt;"> executed by public deed
                  dated November 12, 2025, in the Notarial Office of Santiago of Mr. Eduardo Javier Diez Morello.</font></div>
            </td>
          </tr>

      </table>
      <div><br>
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      <div style="font-size: 10pt;">
        <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">Schedule 1 &#8211; Page 1</div>
      </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.6
<SEQUENCE>9
<FILENAME>ef20060926_ex5-6.htm
<DESCRIPTION>EXHIBIT 5.6
<TEXT>
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      <div style="text-align: right; color: #171717; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit 5.6</div>
      <div style="text-align: right; color: #171717; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> <br>
      </div>

      <div style="text-align: left; color: rgb(23, 23, 23); font-family: 'Times New Roman'; font-size: 10pt;">December 9, 2025</div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #171717; font-family: 'Times New Roman'; font-size: 10pt;">MercadoLibre, Inc.</div>
      <div style="text-align: justify; color: #171717; font-family: 'Times New Roman'; font-size: 10pt;">Dr. Luis Bonavita 1294, Of. 1733, Tower II</div>
      <div style="text-align: justify; color: #171717; font-family: 'Times New Roman'; font-size: 10pt;">Montevideo, Uruguay, 11300</div>
      <div>&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #171717;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font>Ladies and Gentlemen,</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 35.4pt; font-family: 'Times New Roman'; font-size: 10pt;">We have acted as special Colombian counsel to MercadoLibre Colombia Ltda., a limited liability company organized under the laws of the Republic of
        Colombia (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Guarantor</u></font>&#8221;), a subsidiary of MercadoLibre, Inc., a Delaware corporation (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Company</u></font>&#8221;),


        in connection with the preparation and filing with the Securities and Exchange Commission (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Commission</u></font>&#8221;) under the Securities Act of 1933, as amended (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Securities Act</u></font>&#8221;), of a registration statement on Form S-3 <a name="z_Hlk216165167"></a>(Registration Nos. 333-291604, 333-291604-01, 333-291604-02, 333-291604-03,
        333-291604-04, 333-291604-05, 333-291604-06, 333-291604-07, 333-291604-08) (including the documents incorporated by reference therein, but excluding Exhibit 25.1, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Registration
            Statement</u></font>&#8221;) filed by the Company and the additional registrants identified therein, including the Guarantor (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Additional Registrants</u></font>&#8221;) and the
        prospectus, dated November 17, 2025, as supplemented by the prospectus supplement, dated December 4, 2025 (together, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Prospectus</u></font>&#8221;) relating to the Company&#8217;s offering
        of $750,000,000 aggregate principal amount of 4.900% Notes due 2033 (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Debt Securities</u></font>&#8221;) and the Additional Registrants&#8217; guarantees relating to the Debt Securities (the
        &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Guarantees</u></font>,&#8221; and together with the Debt Securities, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Securities</u></font>&#8221;).</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 35.4pt; font-family: 'Times New Roman'; font-size: 10pt;">The Securities were issued pursuant to an indenture dated as of January 14, 2021 (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Base Indenture</u></font>&#8221;) entered into among the Company, the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as trustee, registrar, paying agent and transfer agent (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Trustee</u></font>&#8221;), as amended and supplemented by the fourth supplemental indenture dated as of December 9, 2025 (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Fourth Supplemental
            Indenture</u></font>&#8221;, and together with the Base Indenture, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Indenture</u></font>&#8221;) entered into among the Company, the Additional Registrants and the Trustee.</div>
      <div>&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">In order to render this opinion, we have examined the following documents:</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z91189cb385c34919a4387e8eabc1e1b1" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(1)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">The Registration Statement;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z35c0c4ca2a164759a13d284d1c2e904d" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(2)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">the Prospectus;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zf60b63ec1cdb4a03916c3764b1c329ec" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(3)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">executed copies of the Base Indenture and the Fourth Supplemental Indenture;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z71ef7f2dd62146b9bde8699eed1c2404" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(4)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">executed copies of the Offer No. INMLA 02/2025, dated December 9, 2025, executed by the Company and the Trustee and the acceptance to such offer, dated December 9, 2025, executed
                by the Guarantor, relating to the Fourth Supplemental Indenture;</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
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            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(5)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">facsimile copies of the Debt Securities in global form as executed by the Company and authenticated by the Trustee;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z83c2f98b0aa642a58eb946edcfe65074" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(6)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">The Guarantor bylaws;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zdd5f3c569772487682e1d3f35c09e470" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(7)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Minute No. 125 of November 7, 2025 of the Guarantor&#8217;s Board of Partners, approving the Guarantor to act as guarantor with respect to the Notes;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z05622a05bb15495aa36c891c04329808" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(8)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Existence, good standing and incumbency certificate of the Guarantor, issued by the Chamber of Commerce on December 5, 2025.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Documents (1) and (5) above are hereinafter referred to as the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Transaction Documents</u></font>&#8221;.</div>
      <div>&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">In rendering the opinions expressed below, we have assumed, the authenticity of all documents submitted to us as originals and the conformity to the originals of all
        documents submitted to us as copies. In addition, we have assumed, without any independent investigation or verification of any kind:</div>
      <div>&#160;</div>
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            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(a)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">the authenticity, accuracy and completeness of all documents submitted to us as originals, and the conformity with the originals of all documents submitted to us as certified or
                otherwise satisfactorily identified copies,</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z28ec24be5bbb4defbc3ff8f83125bb01" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(b)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">the genuineness of all signatures,</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z8cbc26d042fe4d328828b0368df9a075" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(c)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">that all documents submitted to us remain in full force and effect (other than with respect to the Guarantor) and have not been amended or affected by any subsequent action not
                disclosed to us,</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zddfec62b174a49bbb3eb3b17c7b1aa48" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(d)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">that no application has been made regarding insolvency proceedings with regard to the Guarantor,</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zb48beb1ac08b4352b536ccf18930741b" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(e)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">that the parties other than the Guarantor have been duly incorporated and are in good standing in accordance with the law of their respective places of incorporation,</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z47278fc5b1d64be2b382b564c6a4aef8" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(f)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">the valid and due execution and delivery, pursuant to due authorization, of each of the Transaction Documents by each of the parties thereto (other than the Guarantor), and</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z0c016a3a8ba045f195a17b227cc29d70" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(g)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">that there has not been any action by any of the parties to the Transaction Documents, any third party or any governmental authority to revoke, terminate or declare null or void
                the Transaction Documents, or requesting any indemnification or damages under the Transaction Documents.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 35.4pt; font-family: 'Times New Roman'; font-size: 10pt;">We have not conducted due diligence on the Guarantor&#8217;s business and affairs, except for our review of the legal and corporative authorizations
        required to act as Guarantor of the Debt Securities, pursuant to its bylaws.</div>
      <div>&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; text-indent: 35.4pt; font-family: 'Times New Roman'; font-size: 10pt;">We have relied, as to factual matters, on representations, statements and warranties contained in the documents and certificates of officers and
        representatives issued by the Guarantor, and contained in the documents described herein. We have made no independent investigations as to whether the representations, statements and warranties related to factual matters in the documents we have
        reviewed are accurate or complete.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 35.4pt; font-family: 'Times New Roman'; font-size: 10pt;">The opinions are limited in all respects to the laws of the Republic of Colombia as they stand as of the date hereof and as they are currently
        interpreted and as the documents described herein as of the date hereof. We do not express any opinion on the laws of any jurisdiction other than the Republic of Colombia.</div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Based on the foregoing, and subject to the further assumptions and qualifications set forth below, it is our opinion that:</div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="zdb4dd7faa9254ddd8f9a0f51e723e6b4" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="width: 36pt;">&#160;</td>
              <td style="text-align: right; vertical-align: top; width: 27pt;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(1)</font></div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The Guarantor is validly existing, has the power to grant the Guarantees and has taken the required steps to authorize entering into the
                    Guarantees under the laws of the Republic of Colombia.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z40c35d57b5b4481aa47d081dd88d32d2" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="width: 36pt;">&#160;</td>
              <td style="text-align: right; vertical-align: top; width: 27pt;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(2)</font></div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The Guarantees have been validly issued under the Indenture, and are valid, binding and enforceable obligations of the Guarantor in accordance
                    with their terms, subject to the enforceability exceptions set forth in the qualifications, exceptions and limitations section of this opinion.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="zf8c3e987c0e944dc8a3c39035cf5fa8b" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="width: 36pt;">&#160;</td>
              <td style="text-align: right; vertical-align: top; width: 27pt;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(3)</font></div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">To ensure the legality, validity, enforceability, priority or admissibility in evidence in the Republic of Colombia of the Guarantee, no
                    registration, recordation, enrollment or other filing with any Colombian Governmental Authority is required, except for:</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zb519aff382f64e7f871400792e664dd1" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 52.9pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">a.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to article 251 of Law 1564 of 2012 (the <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">C&#243;digo General del Proceso)</font>, in order
                for a document written in a foreign language to be admissible as evidence before a Colombian court, it must be translated into Spanish, either by a translator authorized by the Colombian Ministry of Foreign Affairs or by a judge appointed
                translator. To the extent applicable for the purposes of a judicial proceeding, preparation of translations authorized by the Colombian Ministry of Foreign Affairs or by a judge appointed translator into Spanish of the Transaction Documents
                originally executed in English will be required;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z7d1b7431736e487689efa59475ce468a" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 52.9pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">b.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">To the extent applicable, in connection with public or official documents executed outside of the Republic of Colombia compliance with the Hague Apostille Convention or with
                legalization and proceedings in front of the Consulate to ensure the admissibility in evidence of the respective document will be required; and</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z6152261a78484fd7883405a3ad24c1d5" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 52.9pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">c.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">To the extent applicable, observance of the <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">exequatur</font> proceedings described in this legal
                opinion.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z49c2e547f02d4961974695e78fc7371d" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="width: 36pt;">&#160;</td>
              <td style="text-align: right; vertical-align: top; width: 27pt;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(4)</font></div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Pursuant to Articles 605 and 606 of Law 1564 of 2012 (C&#243;digo General del Proceso), the courts of the Republic of Colombia would give effect to
                    and enforce a judgment obtained in a court outside of the Republic of Colombia without re-trial or re-examination of the merits of the case provided (1) that there exists a treaty or convention relating to recognition and enforcement of
                    foreign judgments between the Republic of Colombia and the country of origin of the judgment or, in the absence of such treaty, that proper evidence is provided to the Supreme Court of Colombia to the effect that the courts of the
                    country of the subject judgment would recognize and enforce Colombian judgments, and (2) that the subject judgment fulfills the requirements listed in the qualifications section of this opinion.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; text-indent: 35.4pt; font-family: 'Times New Roman'; font-size: 10pt;">We have assumed that the Guarantors have satisfied<font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font>the legal requirements
        that are applicable to them under applicable law other than the law of the Republic of Colombia to the extent necessary to make the Indenture, the Debt Securities and the Guarantees, as the case may be, enforceable against them. We have also
        assumed that each of the Company and the Trustee has satisfied<font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</font>the legal requirements that are applicable to it under applicable law other than the law of the Republic of
        Colombia to the extent necessary to make the Indenture enforceable against it and (ii) the Securities were offered, issued, sold and delivered in compliance with applicable law other than the law of the Republic of Colombia.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 21.3pt; font-family: 'Times New Roman'; font-size: 10pt;">In addition to the qualifications, exceptions and limitations contained in the foregoing opinions, these are also subject to the following
        qualifications, exceptions and limitations:</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zb31603782d78443b8d32baf19275d4d7" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(1)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">The effect of any applicable workout, bankruptcy, insolvency, re-structuring proceeding, fraudulent conveyance, reorganization, public policy or similar Colombian or foreign laws
                or regulations relating to or limiting creditors&#8217; rights generally, including priority of payments, are applicable to the Guarantor.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="za67f4d76b3ee44afb96fd86fefb47572" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(2)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">The initiation of a reorganization proceeding provides the suspension of the current judicial procedures of collections and the provisional suspension of the Guarantee execution.
                If the reorganization process is not successful and the debtor initiates a liquidation proceeding, the Guarantee will be executed according to the terms of the insolvency proceeding.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z24404696d8ee4d6897c49e91c05ac69a" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(3)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">According to article 16 of Law 1116 of 2006, contractual provisions &#8212;such as early termination clauses &#8212; that directly or indirectly impose adverse effects on the debtor due to the
                commencement of the reorganization proceeding may not be enforceable. Furthermore, enforcement of such provisions by creditors may be subject to sanctions. These sanctions may be (i) postponement of claims: the postponement of claims means
                that the sanctioned creditor will be paid only after all other claims have been paid in the reorganization proceeding, (ii) reversal of effects from enforcement of ineffective contractual provisions: the Superintendence of Companies may
                order, among others, the reversal of transactions and of the effects stemming from the enforcement of an ineffective contractual provision, or (iii) cancellation of the collateral: the cancellation of the collateral entails cancelling all
                creditors&#8217; rights related to any security interest or lien.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z0ecbf34591254cc08197621b5ee4236e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(4)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">According to article 61 of Law 1116 of 2006, the controlling entities may also be held jointly and severally liable for the obligations of their subsidiaries when the subsidiary&#8217;s
                insolvency has been caused by a decision of the controlling entity. The controlling company&#180;s liability shall be ruled by a Colombian court through a parallel legal proceeding. According to Article 82 of Law 1116 of 2006, shareholders,
                directors, statutory auditors, and employees may be held liable for the debts that remain unpaid in the insolvency proceeding, if the insolvency state was diminished because of their intended or negligent behavior. The directors&#180; liability
                shall be ruled by a Colombian court through a parallel legal proceeding.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <table cellspacing="0" cellpadding="0" id="z764fa1f14a2042a18877fbba9e74d056" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(5)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Colombian insolvency laws and regulations are considered public order laws (<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">normas de orden
                  p&#250;blico</font>) and therefore cannot be modified or waived by private agreements. As a consequence, any waivers made by the parties to such documents in respect of Colombia&#8217;s insolvency rules may be rendered unenforceable and a Colombian
                Court may disregard any contractual subordination provision relating to the Transaction Documents.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zada82c570c5e45318b4e61d39dbd2d1c" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(6)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Any proceeding for enforcement in the Republic of Colombia would be subject to the applicable statute of limitations and service of process must be made in accordance with the
                provisions of the <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">C&#243;digo General del Proceso</font>. Contractual provisions regarding service of notice procedures will not be enforceable.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z1c8a58cdf0c44efeb0e2e199b59b8685" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(7)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">The enforcement of the Transaction Documents in the Republic of Colombia may be limited by applicable statute of limitations. Pursuant to article 2535 of Colombia&#8217;s Civil Code (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">C&#243;digo Civil</font>&#8221;), in order for the statute of limitations to run and extinguish enforcement rights it is necessary that the party entitled to exercise an
                enforce actions fails to do so during a period commencing on the date in which the relevant right became enforceable and ending 5 or 10 years after, as the case may be (depending on the relevant statute of limitations). Pursuant to Section
                2514 of <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">C&#243;digo Civil</font>, a waiver to the statute of limitations can only be granted once the relevant statute of limitations has elapsed.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="ze2a00e0ee3da409b90fbd159c923b6b4" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(8)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Under Colombian law, <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">in rem</font> rights over property located in the Republic of Colombia,
                including the transfer of ownership, the granting of liens or security interests, and any proceeding to enforce a judicial decision by means of seizure, attachment or execution against assets or property, or against any right or interest in
                assets or properties located in the Republic of Colombia, must be governed by the laws of Colombia and any collection proceeding over each assets located in the Republic of Colombia will be subject to the jurisdiction of Colombian courts.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z940b70b7d9d14de2af5a02c20f52d18e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(9)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Article 869 of Colombia&#8217;s Code of Commerce (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">C&#243;digo de Comercio&#8221;</font>) provides that any
                agreement executed abroad containing obligations to be performed by the parties thereof in Colombia must be governed by Colombian laws, regardless of whether or not such parties are Colombian residents. Considering that pursuant to Law 33
                of 1992, payment obligations under credit transactions are deemed to be held and performed in the place of payment, we believe that the Transaction Documents contain provisions that, if observed, will make the main obligations thereunder to
                be performed outside Colombia considering payment obligations are to be paid abroad, and, therefore, parties are not subject to Colombian law as set forth by Article 869 of the Colombia&#8217;s Code of Commerce and may validly choose the law of
                the State of New York as the governing law of the Transaction Documents.</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <table cellspacing="0" cellpadding="0" id="z8185210ca5f54cf6a8e41ff5ea2b3fe6" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(10)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">In any proceeding in the Republic of Colombia in which a law of a foreign country were to be applied, there should be evidence of the law sought to be applied, through a copy of
                such law duly issued and promulgated by the competent authorities, and when a written law does not exist, through the deposition or <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">affidavit</font> of two
                or more lawyers admitted in the relevant jurisdiction regarding such applicable law.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z7be4524a6f7c43a099a2fb595da0c3dd" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(11)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">In accordance with article 902 of <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">C&#243;digo de Comercio</font>, if a provision of an agreement is
                declared void, that would only cause all the document to be void if the parties would not have entered into the agreement in the absence of the provision that has been declared void.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zd5849166df4c4c468508ede2d35e0837" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(12)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">We express no opinion on the ability of the holders of the Debt Securities to initiate a collection proceeding before the Colombian courts based on the Transaction Documents
                without complying with the <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">exequatur</font> proceeding or providing proof of foreign applicable laws.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z948a6fc0910340a38c8a7d8ea4332d1c" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(13)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">The provisions of the Transaction Documents which treat certain determinations as conclusive may be subject to review in a proceeding in the Republic of Colombia to determine the
                correctness of such determinations.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z34424eab4fba43bab717c55d297fe85a" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(14)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Indemnification provisions may be limited by the judicial determination of legal costs, fees and judicial amounts determined by Colombian courts.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z709a2e340d0e4c6a9461d9f74541cb28" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(15)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to and subject to the limitations provided for in article 594 of the <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">C&#243;digo General del
                  Proceso</font>, assets listed in said article are not subject to any attachment.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z6d22a03c264b4cfba21adfe6a4218b30" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(16)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">In accordance with article 1506 of <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">C&#243;digo Civil</font>, any contractual provision in favor of a
                third party is revocable until such third party accepts such provision whether expressly or by course of action.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zdcfef9a0793f4812883472b8d4b62f73" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(17)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">According with applicable procedural rules: (i) waivers of immunity and service of process by private companies within the Republic of Colombia may not be allowed, (ii) advanced
                waivers of any immunity from proceedings (jurisdiction, execution or attachment), which might be available in the future under Colombian law, may not be allowed, and (iii) equitable remedies or injunctive relief are unavailable, except for
                fundamental constitutional rights, specific performance of contracts and precautionary measures and remedies in unfair trade practice actions.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z62507b475c9242a19bff4ba24f714813" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(18)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to article 13 of the <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">C&#243;digo General del Proceso</font>, civil procedure rules are
                considered public order laws (<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">normas de orden p&#250;blico</font>) and therefore cannot be modified or waived by contractual arrangements. To the extent that the
                parties to the Transaction Documents commence enforcement actions before Colombian courts instead of commencing them at foreign courts (which final ruling may subsequently be enforced in the Republic of Colombia through <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">exequatur</font> proceedings as described herein), any waivers made by the parties to the Transaction Documents in respect of Colombia&#8217;s rules of civil procedure
                may be rendered unenforceable.</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <table cellspacing="0" cellpadding="0" id="zd11c5894297f4e4aa0366d5343eedf78" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.3pt;"><br>
            </td>
            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(19)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to articles 15 and 16 of <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">C&#243;digo Civil</font>, the waiver of rights is permissible
                provided that said waiver only affects the rights of the waiving party. Under Colombian law, any immunity from proceedings, which might be available in the future cannot be validly waived in advance.</div>
            </td>
          </tr>

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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(20)</td>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">According to Colombian laws, the laws applicable to a given agreement are those in existence at the time of execution of such agreement, even if those laws change in the future,
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(21)</td>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Under Colombian law, charging interest on interest (whether accrued or unpaid) is not permitted unless those interests are charged as permitted under article 886 of <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">C&#243;digo de Comercio</font>.</div>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Additionally, the Supreme Court of Colombia, in the <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">exequatur</font> proceeding, must examine
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      <div>&#160;</div>
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">a.</td>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">That the defendant was afforded due service of process in accordance with the laws of the country of origin of the judgment, provided that the judgment was rendered in respect of a
                contentious matter which will be presumed if the judgment is final and binding;</div>
            </td>
          </tr>

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      <div>&#160;</div>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">That the judgment is final and binding in accordance with the laws of the country of origin of the judgment, and that a duly authenticated and legalized copy be filed with the
                plaintiff&#8217;s request for exequatur;</div>
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          </tr>

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      <div>&#160;</div>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">That the judgment is not contrary to Colombian public order laws (<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">normas de orden p&#250;blico</font>),


                except for rules of civil procedural laws;</div>
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      <div>&#160;</div>
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">d.</td>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">That the matter of the judgment is not subject to exclusive jurisdiction of the courts of Colombia;</div>
            </td>
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      <div>&#160;</div>
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">e.</td>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">That the judgment does not refer to in rem rights over assets located in Colombia at the time of initiation of the proceeding;</div>
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">f.</td>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">That there are no proceedings in Colombia, or any final judgments rendered by Colombian courts in connection with the same subject matter; and</div>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">That the requirement of exequatur has been fulfilled.</div>
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">h.</td>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">In the course of the <font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">exequatur</font> proceedings, both the plaintiff and the defendant are
                allowed the opportunity to request that evidence be collected in connection with the issues listed above; and before the judgment is rendered, each party may file final allegations in support of such party&#8217;s position. The recognition of a
                judgement of a foreign court will be analyzed in a case-by-case basis. Under Colombian law, in rem rights over property located in Colombia, including the transfer of ownership, the granting of liens or security interest, and any proceeding
                to enforce a judicial decision by means of seizure, attachment or execution against assets or property, or against any right or interest in assets properties located in Colombia, must be governed by the laws of Colombia and any collection
                proceeding over each asset located in Colombia will be subject to the jurisdiction of Colombian courts.</div>
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      <div>&#160;</div>
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(23)</td>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Performance by the Guarantor shall abide to applicable foreign exchange regulations in Colombia. For these purposes, in compliance with Section 6.1 of External Circular DCIP-83
                issued by the Central Bank, in case of an effective call of the Guarantee, the Guarantor shall register the Guarantee in the Colombian Central Bank by means of filing a Form &#171;Information of foreign indebtedness granted to non-residents&#187; &#187;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"> (&#8220;</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Informe de Cr&#233;dito Externo Otorgado a no Residentes</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">&#8221;) </font> to a foreign exchange intermediary before or in the same moment in which payment by the Guarantor is due. Every transfer of currencies associated with
                the Guarantee shall be completed through the Colombian foreign exchange market and reported to the Colombian Central Bank, for which the Guarantor must provide the information of the minimum data of foreign exchange operations for foreign
                indebtedness (Foreign Exchange Declaration &#8211; formerly known as Form no. 3) through a foreign exchange intermediary or through a compensation account held by the Guarantor.</div>
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      <div><br>
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(24)</td>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">If the full and unconditional Guarantee provided by the Guarantor in respect of the Debt Securities is not considered an economic compensation from the Company to the Guarantor, in
                the case of the effective call of the Guarantee, the Colombian Tax Authority (DIAN) may calculate an income due to the Guarantor for income tax purposes applying current transfer pricing legislation (Decree 1625 of 2016 and Section 260-1
                through Section 260-11 of the Colombian Tax Code), following both OECD guidelines and local rulings, considering that the entities are related and the transaction can be considered as an intercompany transaction. If transfer pricing rules
                are not complied with, the expenses incurred in by the Guarantor related to the Guarantee may be considered as non-deductible for income tax purposes.</div>
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            <td style="width: 28.35pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">(25)</td>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">As of February 22nd, 2025, and until December 31st of the same year, stamp tax rate was increased from 0% to 1%, and it applies to the execution in Colombian territory of documents
                that create, modify, assign, or terminate obligations, or the execution of documents abroad of Colombia, but that create, modify, assign, or terminate obligations in Colombia. In both cases Stamp Tax applies if legal obligations exceed
                6,000 UVT (2025: COP 298,794,000, approx. USD 72,500). Generally, if the agreement has a fixed value and is a fixed-term contract, the tax is levied on the total amount of the contract on said date. However, there are special rules for
                agreements with variable amounts according to which the tax would be assessed and paid upon each payment or accrual (not at the execution), whichever occurs first. Exemptions to the stamp tax include, among others, documents related to
                foreign indebtedness and open commercial pledges agreements (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">prenda abierta</font>&#8221;), or commercial offers accepted via purchase orders. Furthermore, all
                obligations included in a commercial offer accepted through a purchase order would be exempted, or any obligation subject to a condition precedent should not trigger Colombian stamp tax. In the event of default by the Issuer, obligations
                that arise, if they qualify as foreign indebtedness would be eligible for a stamp tax exemption, as provided for under Section 529 of the Colombian Tax Code. Consequently, we believe that stamp tax should arguably not accrue in this case,
                but absent any specific tax ruling or case law, we cannot discard the possibility that the tax authority has a different view.</div>
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      <div style="text-align: justify; text-indent: 35.4pt; font-family: 'Times New Roman'; font-size: 10pt;">This opinion is limited to matters of the Republic of Colombian law in force on the date hereof. We express no opinion with respect to the law of
        any other jurisdiction. We express no opinion as to the effect on the opinions set forth herein of any failure by any party to comply with laws and regulations pertaining to banks, trustees or other financial institutions or affiliates thereof, if
        applicable, or other laws or regulations applicable to any party by reason of such party's status or the nature of its business or assets. This opinion is specific as to the transactions and the documents referred to herein and is based upon the
        law as of the date hereof. Our opinions are limited to those expressly set forth herein, and we express no opinions by implication.</div>
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      <div style="text-align: justify; text-indent: 35.4pt; font-family: 'Times New Roman'; font-size: 10pt;">We hereby consent to the use of our name in the Prospectus under the heading &#8220;Legal Matters&#8221;, as counsel for the Guarantor that has passed on the
        validity of its Guarantees under Colombian law, and to the filing of this opinion as Exhibit 5.6 to the Company&#8217;s Current Report on Form 8-K dated December 9, 2025. In giving such consent, we do not thereby admit that we are within the category of
        persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder. The opinions expressed herein are rendered on and as of the date hereof, and we assume no obligation to advise you or
        any other person, or to make any investigations, as to any legal developments or factual matters arising subsequent to the date hereof that might affect the opinions expressed herein. Cleary Gottlieb Steen &amp; Hamilton LLP may rely upon this
        opinion in rendering their opinion to the Company and the Additional Registrants. This opinion is not to be transmitted to anyone else nor is to be relied upon by anyone else for any purpose, nor is to be quoted or referred to in any public
        document without our express written consent except that it may be disclosed without such consent: (a) to any person to whom disclosure is required to be made by applicable law or court order or pursuant to the rules or regulations of any
        supervisory or regulatory body (including the rules of any applicable stock exchange or any other applicable supervisory or regulatory authority having jurisdiction over the addressees or any of the addressees&#8217; affiliates) or in connection with any
        judicial proceedings; (b) in seeking to establish any defense in any legal or regulatory proceeding or investigation relating to the matters set out herein; and/or (c) in connection with any actual or potential dispute or claim to which you may be
        a party and which relates to the matters set out herein.</div>
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              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; margin-left: 117pt;">Very truly yours,</div>
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            <td style="width: 20%; vertical-align: top;">&#160;</td>
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              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">/s/ Luis Gabriel Morcillo</div>
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              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">BRIGARD &amp; URRUTIA ABOGADOS S.A.S.</div>
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<TYPE>EX-101.DEF
<SEQUENCE>11
<FILENAME>meli-20251209_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
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<XBRL>
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<DOCUMENT>
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<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockMember" xlink:label="CommonStockMember" xlink:title="CommonStockMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockMember" xml:lang="en-US" id="us-gaap_CommonStockMember">Common Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockMember" xlink:to="us-gaap_CommonStockMember" xlink:title="label: CommonStockMember to us-gaap_CommonStockMember" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockDomain" xlink:label="ClassOfStockDomain" xlink:title="ClassOfStockDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ClassOfStockDomain" xml:lang="en-US" id="us-gaap_ClassOfStockDomain">Class of Stock [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassOfStockDomain" xlink:to="us-gaap_ClassOfStockDomain" xlink:title="label: ClassOfStockDomain to us-gaap_ClassOfStockDomain" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="StatementClassOfStockAxis" xlink:title="StatementClassOfStockAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementClassOfStockAxis" xml:lang="en-US" id="us-gaap_StatementClassOfStockAxis">Class of Stock [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis" xlink:title="label: StatementClassOfStockAxis to us-gaap_StatementClassOfStockAxis" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CoverAbstract" xlink:label="CoverAbstract" xlink:title="CoverAbstract" />
    <link:label xlink:type="resource" xlink:label="dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CoverAbstract" xml:lang="en-US" id="dei_CoverAbstract">Cover [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CoverAbstract" xlink:to="dei_CoverAbstract" xlink:title="label: CoverAbstract to dei_CoverAbstract" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentType" xlink:label="DocumentType" xlink:title="DocumentType" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentType" xml:lang="en-US" id="dei_DocumentType">Document Type</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentType" xlink:to="dei_DocumentType" xlink:title="label: DocumentType to dei_DocumentType" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_WrittenCommunications" xlink:label="WrittenCommunications" xlink:title="WrittenCommunications" />
    <link:label xlink:type="resource" xlink:label="dei_WrittenCommunications" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_WrittenCommunications" xml:lang="en-US" id="dei_WrittenCommunications">Written Communications</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WrittenCommunications" xlink:to="dei_WrittenCommunications" xlink:title="label: WrittenCommunications to dei_WrittenCommunications" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SolicitingMaterial" xlink:label="SolicitingMaterial" xlink:title="SolicitingMaterial" />
    <link:label xlink:type="resource" xlink:label="dei_SolicitingMaterial" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_SolicitingMaterial" xml:lang="en-US" id="dei_SolicitingMaterial">Soliciting Material</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SolicitingMaterial" xlink:to="dei_SolicitingMaterial" xlink:title="label: SolicitingMaterial to dei_SolicitingMaterial" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_PreCommencementTenderOffer" xlink:label="PreCommencementTenderOffer" xlink:title="PreCommencementTenderOffer" />
    <link:label xlink:type="resource" xlink:label="dei_PreCommencementTenderOffer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_PreCommencementTenderOffer" xml:lang="en-US" id="dei_PreCommencementTenderOffer">Pre-commencement Tender Offer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer" xlink:title="label: PreCommencementTenderOffer to dei_PreCommencementTenderOffer" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="PreCommencementIssuerTenderOffer" xlink:title="PreCommencementIssuerTenderOffer" />
    <link:label xlink:type="resource" xlink:label="dei_PreCommencementIssuerTenderOffer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_PreCommencementIssuerTenderOffer" xml:lang="en-US" id="dei_PreCommencementIssuerTenderOffer">Pre-commencement Issuer Tender Offer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer" xlink:title="label: PreCommencementIssuerTenderOffer to dei_PreCommencementIssuerTenderOffer" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentFlag" xlink:label="AmendmentFlag" xlink:title="AmendmentFlag" />
    <link:label xlink:type="resource" xlink:label="dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_AmendmentFlag" xml:lang="en-US" id="dei_AmendmentFlag">Amendment Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmendmentFlag" xlink:to="dei_AmendmentFlag" xlink:title="label: AmendmentFlag to dei_AmendmentFlag" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentFiscalYearFocus" xlink:label="DocumentFiscalYearFocus" xlink:title="DocumentFiscalYearFocus" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentFiscalYearFocus" xml:lang="en-US" id="dei_DocumentFiscalYearFocus">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus" xlink:title="label: DocumentFiscalYearFocus to dei_DocumentFiscalYearFocus" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="DocumentFiscalPeriodFocus" xlink:title="DocumentFiscalPeriodFocus" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentFiscalPeriodFocus" xml:lang="en-US" id="dei_DocumentFiscalPeriodFocus">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus" xlink:title="label: DocumentFiscalPeriodFocus to dei_DocumentFiscalPeriodFocus" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentPeriodEndDate" xlink:label="DocumentPeriodEndDate" xlink:title="DocumentPeriodEndDate" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentPeriodEndDate" xml:lang="en-US" id="dei_DocumentPeriodEndDate">Document Period End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate" xlink:title="label: DocumentPeriodEndDate to dei_DocumentPeriodEndDate" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityRegistrantName" xlink:label="EntityRegistrantName" xlink:title="EntityRegistrantName" />
    <link:label xlink:type="resource" xlink:label="dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityRegistrantName" xml:lang="en-US" id="dei_EntityRegistrantName">Entity Registrant Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityRegistrantName" xlink:to="dei_EntityRegistrantName" xlink:title="label: EntityRegistrantName to dei_EntityRegistrantName" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey" />
    <link:label xlink:type="resource" xlink:label="dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCentralIndexKey" xml:lang="en-US" id="dei_EntityCentralIndexKey">Entity Central Index Key</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey" xlink:title="label: EntityCentralIndexKey to dei_EntityCentralIndexKey" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityFileNumber" xlink:label="EntityFileNumber" xlink:title="EntityFileNumber" />
    <link:label xlink:type="resource" xlink:label="dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityFileNumber" xml:lang="en-US" id="dei_EntityFileNumber">Entity File Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityFileNumber" xlink:to="dei_EntityFileNumber" xlink:title="label: EntityFileNumber to dei_EntityFileNumber" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityTaxIdentificationNumber" xlink:label="EntityTaxIdentificationNumber" xlink:title="EntityTaxIdentificationNumber" />
    <link:label xlink:type="resource" xlink:label="dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityTaxIdentificationNumber" xml:lang="en-US" id="dei_EntityTaxIdentificationNumber">Entity Tax Identification Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber" xlink:title="label: EntityTaxIdentificationNumber to dei_EntityTaxIdentificationNumber" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="EntityIncorporationStateCountryCode" xlink:title="EntityIncorporationStateCountryCode" />
    <link:label xlink:type="resource" xlink:label="dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityIncorporationStateCountryCode" xml:lang="en-US" id="dei_EntityIncorporationStateCountryCode">Entity Incorporation, State or Country Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode" xlink:title="label: EntityIncorporationStateCountryCode to dei_EntityIncorporationStateCountryCode" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityEmergingGrowthCompany" xlink:label="EntityEmergingGrowthCompany" xlink:title="EntityEmergingGrowthCompany" />
    <link:label xlink:type="resource" xlink:label="dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityEmergingGrowthCompany" xml:lang="en-US" id="dei_EntityEmergingGrowthCompany">Entity Emerging Growth Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany" xlink:title="label: EntityEmergingGrowthCompany to dei_EntityEmergingGrowthCompany" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine1" xlink:label="EntityAddressAddressLine1" xlink:title="EntityAddressAddressLine1" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine1" xml:lang="en-US" id="dei_EntityAddressAddressLine1">Entity Address, Address Line One</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1" xlink:title="label: EntityAddressAddressLine1 to dei_EntityAddressAddressLine1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine2" xlink:label="EntityAddressAddressLine2" xlink:title="EntityAddressAddressLine2" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine2" xml:lang="en-US" id="dei_EntityAddressAddressLine2">Entity Address, Address Line Two</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2" xlink:title="label: EntityAddressAddressLine2 to dei_EntityAddressAddressLine2" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine3" xlink:label="EntityAddressAddressLine3" xlink:title="EntityAddressAddressLine3" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine3" xml:lang="en-US" id="dei_EntityAddressAddressLine3">Entity Address, Address Line Three</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3" xlink:title="label: EntityAddressAddressLine3 to dei_EntityAddressAddressLine3" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCityOrTown" xlink:label="EntityAddressCityOrTown" xlink:title="EntityAddressCityOrTown" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressCityOrTown" xml:lang="en-US" id="dei_EntityAddressCityOrTown">Entity Address, City or Town</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown" xlink:title="label: EntityAddressCityOrTown to dei_EntityAddressCityOrTown" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressStateOrProvince" xlink:label="EntityAddressStateOrProvince" xlink:title="EntityAddressStateOrProvince" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressStateOrProvince" xml:lang="en-US" id="dei_EntityAddressStateOrProvince">Entity Address, State or Province</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince" xlink:title="label: EntityAddressStateOrProvince to dei_EntityAddressStateOrProvince" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCountry" xlink:label="EntityAddressCountry" xlink:title="EntityAddressCountry" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressCountry" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressCountry" xml:lang="en-US" id="dei_EntityAddressCountry">Entity Address, Country</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressCountry" xlink:to="dei_EntityAddressCountry" xlink:title="label: EntityAddressCountry to dei_EntityAddressCountry" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressPostalZipCode" xlink:label="EntityAddressPostalZipCode" xlink:title="EntityAddressPostalZipCode" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressPostalZipCode" xml:lang="en-US" id="dei_EntityAddressPostalZipCode">Entity Address, Postal Zip Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode" xlink:title="label: EntityAddressPostalZipCode to dei_EntityAddressPostalZipCode" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CityAreaCode" xlink:label="CityAreaCode" xlink:title="CityAreaCode" />
    <link:label xlink:type="resource" xlink:label="dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CityAreaCode" xml:lang="en-US" id="dei_CityAreaCode">City Area Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CityAreaCode" xlink:to="dei_CityAreaCode" xlink:title="label: CityAreaCode to dei_CityAreaCode" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_LocalPhoneNumber" xlink:label="LocalPhoneNumber" xlink:title="LocalPhoneNumber" />
    <link:label xlink:type="resource" xlink:label="dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_LocalPhoneNumber" xml:lang="en-US" id="dei_LocalPhoneNumber">Local Phone Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber" xlink:title="label: LocalPhoneNumber to dei_LocalPhoneNumber" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityListingsTable" xlink:label="EntityListingsTable" xlink:title="EntityListingsTable" />
    <link:label xlink:type="resource" xlink:label="dei_EntityListingsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityListingsTable" xml:lang="en-US" id="dei_EntityListingsTable">Entity Listings [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityListingsTable" xlink:to="dei_EntityListingsTable" xlink:title="label: EntityListingsTable to dei_EntityListingsTable" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityListingsLineItems" xlink:label="EntityListingsLineItems" xlink:title="EntityListingsLineItems" />
    <link:label xlink:type="resource" xlink:label="dei_EntityListingsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityListingsLineItems" xml:lang="en-US" id="dei_EntityListingsLineItems">Entity Listings [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityListingsLineItems" xlink:to="dei_EntityListingsLineItems" xlink:title="label: EntityListingsLineItems to dei_EntityListingsLineItems" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_Security12bTitle" xlink:label="Security12bTitle" xlink:title="Security12bTitle" />
    <link:label xlink:type="resource" xlink:label="dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_Security12bTitle" xml:lang="en-US" id="dei_Security12bTitle">Title of 12(b) Security</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Security12bTitle" xlink:to="dei_Security12bTitle" xlink:title="label: Security12bTitle to dei_Security12bTitle" />
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>13
<FILENAME>meli-20251209_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Dec. 09, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec.  09,  2025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-33647<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">MercadoLibre, Inc<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001099590<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">98-0212790<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">Dr. Luis Bonavita 1294, Of. 1733, Tower II<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Montevideo<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">UY<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">11300<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">598<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">2-927-2770<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember', window );">Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, $0.001 par value per share<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">MELI<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=meli_Two375SustainabilityNotesDue2026Member', window );">2.375% Sustainability Notes due 2026 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">2.375% Sustainability Notes due 2026<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">MELI26<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=meli_Three125NotesDue2031Member', window );">3.125% Notes due 2031 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">3.125% Notes due 2031<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">MELI31<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCountry">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>ISO 3166-1 alpha-2 country code.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCountry</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:countryCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityListingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityListingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14a<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
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