<SEC-DOCUMENT>0001144204-13-052432.txt : 20131107
<SEC-HEADER>0001144204-13-052432.hdr.sgml : 20131107

<ACCEPTANCE-DATETIME>20130925204339

<PRIVATE-TO-PUBLIC>

ACCESSION NUMBER:		0001144204-13-052432

CONFORMED SUBMISSION TYPE:	S-3/A

PUBLIC DOCUMENT COUNT:		12

FILED AS OF DATE:		20130926

DATE AS OF CHANGE:		20131009


FILER:


	COMPANY DATA:	

		COMPANY CONFORMED NAME:			ICAHN ENTERPRISES L.P.

		CENTRAL INDEX KEY:			0000813762

		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]

		IRS NUMBER:				133398766

		STATE OF INCORPORATION:			DE

		FISCAL YEAR END:			1231



	FILING VALUES:

		FORM TYPE:		S-3/A

		SEC ACT:		1933 Act

		SEC FILE NUMBER:	333-188360

		FILM NUMBER:		131115452



	BUSINESS ADDRESS:	

		STREET 1:		767 FIFTH AVENUE

		STREET 2:		SUITE 4600

		CITY:			NEW YORK

		STATE:			NY

		ZIP:			10153

		BUSINESS PHONE:		212-702-4300



	MAIL ADDRESS:	

		STREET 1:		767 FIFTH AVENUE

		STREET 2:		SUITE 4600

		CITY:			NEW YORK

		STATE:			NY

		ZIP:			10153



	FORMER COMPANY:	

		FORMER CONFORMED NAME:	AMERICAN REAL ESTATE PARTNERS L P

		DATE OF NAME CHANGE:	19920703




FILER:


	COMPANY DATA:	

		COMPANY CONFORMED NAME:			ICAHN ENTERPRISES FINANCE CORP.

		CENTRAL INDEX KEY:			0001297337

		IRS NUMBER:				000000000

		STATE OF INCORPORATION:			DE

		FISCAL YEAR END:			1231



	FILING VALUES:

		FORM TYPE:		S-3/A

		SEC ACT:		1933 Act

		SEC FILE NUMBER:	333-188360-01

		FILM NUMBER:		131115453



	BUSINESS ADDRESS:	

		STREET 1:		767 FIFTH AVENUE

		STREET 2:		SUITE 4600

		CITY:			NEW YORK

		STATE:			NY

		ZIP:			10153

		BUSINESS PHONE:		212-702-4300



	MAIL ADDRESS:	

		STREET 1:		767 FIFTH AVENUE

		STREET 2:		SUITE 4600

		CITY:			NEW YORK

		STATE:			NY

		ZIP:			10153



	FORMER COMPANY:	

		FORMER CONFORMED NAME:	Icahn Enterprises Finance Corp

		DATE OF NAME CHANGE:	20100412



	FORMER COMPANY:	

		FORMER CONFORMED NAME:	American Real Estate Finance Corp.

		DATE OF NAME CHANGE:	20040715



</SEC-HEADER>

<DOCUMENT>
<TYPE>S-3/A
<SEQUENCE>1
<FILENAME>v355584_s3a.htm
<DESCRIPTION>AMENDED REGISTRATION STATEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B> As filed with the Securities and
Exchange Commission on September 25, 2013 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B> Registration No. 333-188360 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B> Amendment
No </B></FONT><B> . 1 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B> to </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-3 </B><BR>
<B>REGISTRATION STATEMENT</B><BR>
<B>UNDER THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICAHN ENTERPRISES L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant As Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><font style="font-size: 10pt"><b>Delaware</b></font></td>
    <TD STYLE="width: 50%; padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><font style="font-size: 10pt"><b>13-3398766</b></font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><font style="font-size: 10pt">(State or Other Jurisdiction of</font><br>
<font style="font-size: 10pt">Incorporation or Organization)</font></td>
    <TD STYLE="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><font style="font-size: 10pt">(I.R.S. Employer</font><br>
<font style="font-size: 10pt">Identification Number)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICAHN ENTERPRISES FINANCE CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant As Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0; text-align: center; text-indent: 0"><font style="font-size: 10pt"><b>Delaware</b></font></td>
    <TD STYLE="width: 50%; padding: 0; text-align: center; text-indent: 0"><font style="font-size: 10pt"><b>20-1059842</b></font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><font style="font-size: 10pt">(State or Other Jurisdiction of</font><br>
<font style="font-size: 10pt">Incorporation or Organization)</font></td>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><font style="font-size: 10pt">(I.R.S. Employer</font><br>
<font style="font-size: 10pt">Identification Number)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>767 Fifth Avenue, Suite 4700<BR>
New York, New York 10153<BR>
(212) 702-4300</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address, Including Zip Code, and Telephone
Number,<BR>
Including Area Code, of Registrants&rsquo; Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Daniel A. Ninivaggi</B><BR>
<B>President and Chief Executive Officer</B><BR>
<B>767 Fifth Avenue, Suite 4700</B><BR>
<B>New York, New York 10153</B><BR>
<B>(212) 702-4300 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, Address, Including Zip Code, and
Telephone Number,<BR>
Including Area Code, of Agent for Service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>With copies to:</I><BR>
<B>Julie M. Allen, Esq.</B><BR>
<B>Proskauer Rose LLP</B><BR>
<B>11 Times Square</B><BR>
<B>New York, New York 10036</B><BR>
<B>(212) 969-3155 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B>Approximate date of commencement of
proposed sale to the public:</B> From time to time after the effective date of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If the only
securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the
following box. </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If any of
the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the
following box <FONT STYLE="font-family: Wingdings 2">&#83;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If this
Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check
the following box and list the Securities Act registration statement number of the earlier effective registration statement for
the same offering <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If this
form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier registration statement for the same offering. <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
this Form is a registration statement pursuant to General Instruction 1.D. or a post-effective amendment thereto that shall
become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box: <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">If
this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction 1.D. filed to
register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check
the following box: <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2
of the Exchange Act. (Check one):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Large Accelerated Filer <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT></td>
    <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Accelerated Filer </font><FONT STYLE="font-family: Wingdings 2">&#83;</FONT></td>
    <td style="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Non-Accelerated Filer <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT></td>
    <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Smaller Reporting Company <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.125in; text-align: left"><font style="font-size: 10pt">(Do not check if a smaller reporting company)</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>CALCULATION
OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td nowrap style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Title of Each Class of Securities </b></font><br>
<font style="font-size: 10pt"><b>To Be Registered</b></font></td>
    <td nowrap style="padding-bottom: 1pt">&nbsp;</td>
    <td nowrap colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Amount to be </b></font><br>
<font style="font-size: 10pt"><b>Registered (1)</b></font></td>
    <td nowrap style="padding-bottom: 1pt">&nbsp;</td>
    <td nowrap style="padding-bottom: 1pt">&nbsp;</td>
    <td nowrap colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Proposed </b></font><br>
<font style="font-size: 10pt"><b>Maximum </b></font><br>
<font style="font-size: 10pt"><b>Offering Price Per </b></font><br>
<font style="font-size: 10pt"><b>Unit</b></font></td>
    <td nowrap style="padding-bottom: 1pt">&nbsp;</td>
    <td nowrap style="padding-bottom: 1pt">&nbsp;</td>
    <td nowrap colspan="2" style="border-bottom: black 1pt solid; padding-right: -6.2pt; text-align: center"><font style="font-size: 10pt"><b>Proposed Maximum </b></font><br>
<font style="font-size: 10pt"><b>Aggregate&nbsp;Offering </b></font><br>
<font style="font-size: 10pt"><b>Price (1)(2)</b></font></td>
    <td nowrap style="padding-right: -6.2pt; padding-bottom: 1pt">&nbsp;</td>
    <td nowrap style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Amount&nbsp;of </b></font><br>
<font style="font-size: 10pt"><b>Registration&nbsp;Fee</b></font></td>
    <td nowrap style="padding-bottom: 1pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td style="width: 26%; padding-left: 0.25in"><font style="font-size: 10pt">Depositary Units&nbsp;(3)</font></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 11%; text-align: right">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 16%; text-align: right">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 17%; text-align: right">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 14%; text-align: right"><font style="font-size: 10pt">&mdash;</font></td>
    <td style="width: 5%">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 0.25in"><font style="font-size: 10pt">Preferred Units (3)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-size: 10pt">&mdash;</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td style="padding-left: 0.25in"><font style="font-size: 10pt">Debt Securities (3)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-size: 10pt">&mdash;</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 0.25in"><font style="font-size: 10pt">Guarantees of Debt Securities (4)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td style="padding-left: 0.25in"><font style="font-size: 10pt">Warrants</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-size: 10pt">&mdash;</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 0.25in"><font style="font-size: 10pt">Rights</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-size: 10pt">&mdash;</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td style="padding-left: 0.25in"><font style="font-size: 10pt">Units</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td nowrap><font style="font-size: 10pt">Total </font></td>
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap><font style="font-size: 10pt">$</font></td>
    <td nowrap style="text-align: right"><font style="font-size: 10pt">1,000,000,000</font></td>
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap><font style="font-size: 10pt">$</font></td>
    <td nowrap style="text-align: right"><font style="font-size: 10pt">98,504&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <td nowrap><font style="font-size: 10pt">(5) (6)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 0px">&nbsp;</td>
    <td style="width: 24px"><font style="font-size: 10pt">(1)</font></td>
    <td><font style="font-size: 10pt">Such indeterminate number of each identified class of securities, as may from time to time be issued at indeterminate prices, with an aggregate initial offering price not to exceed $1,000,000,000. Securities registered hereunder may be sold separately, together or as units with other securities registered hereunder. </font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 0px">&nbsp;</td>
    <td style="width: 24px"><font style="font-size: 10pt">(2)</font></td>
    <td><font style="font-size: 10pt">Estimated solely for the purpose of calculating the registration fee for the primary offering pursuant to Rule 457(o) under the Securities Act of 1933. Pursuant to Rule 457(o) and General Instruction II.D of Form&nbsp;S-3, which permits the registration fee to be calculated on the basis of the maximum offering price of all the securities listed for the offering, the table does not specify by each class information as to the amount to be registered or proposed maximum offering price per unit. </font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 0px">&nbsp;</td>
    <td style="width: 24px"><font style="font-size: 10pt">(3)</font></td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to footnote (1), there are also being registered hereunder
        an indeterminate principal amount or number of depositary units, preferred units or debt securities that may be issued upon conversion
        of, or in exchange for, preferred units or debt securities registered hereunder or upon exercise of warrants or rights registered
        hereunder, as the case may be.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">(4)</font></td>
    <td><font style="font-size: 10pt">Any series of debt securities issued by Icahn Enterprises Finance Corp. will be guaranteed by Icahn Enterprises L.P. Pursuant to Rule 457(n), no separate fee is payable with respect to the guarantees of the debt securities being registered.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</td>
    <TD STYLE="width: 24px"><font style="font-size: 10pt">(5)</font></td>
    <TD><font style="font-size: 10pt">Pursuant to Rule 415(a)(6) and Rule 457(p) under the Securities Act, the registrant is applying the filing fee of $37,896 associated with an unsold indeterminate number of each identified class of securities, which may from time to time be issued at indeterminate prices, with an aggregate offering price not to exceed $679,135,948 under its registration statement on Form S-3 (No. 333-158705) (the &quot;Prior Registration Statement&quot;) against the total filing fee of $136,400 that would otherwise be due in connection with this registration statement. Pursuant to Rule 415(a)(6), the offering of unsold securities under the Prior Registration Statement will be deemed terminated as of the date of effectiveness of this registration statement.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0px"></TD><TD STYLE="width: 24px; text-align: left"><FONT STYLE="font-size: 10pt">(6)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">$91,760 previously paid.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The Registrants hereby amend this registration statement
on such date or dates as may be necessary to delay its effective date until the Registrants will file a further amendment which
specifically states that this registration statement will thereafter become effective in accordance with Section&nbsp;8(a) of the
Securities Act of 1933 or until the registration statement will become effective on such date as the Commission, acting pursuant
to said Section&nbsp;8(a), may determine. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B> This Amendment No. 1 to
the Registration Statement on Form S-3 File No. 333-188360 (the &ldquo;Registration Statement&rdquo;) of Icahn Enterprises
L.P. and Icahn Enterprises Finance Corp. is being filed solely to amend the Calculation of Registration Fee Table, to amend
the sections entitled Ratio of Earnings to Fixed Charges, Description of Depositary Units, Experts and Incorporation of
Certain Documents by Reference, to include Exhibit 4.3, to amend Exhibit 5.1, to update Exhibit 12.1 and include Exhibits
15.1, 15.2, 15.3, 23.1, 23.2, 23.3, 23.4 and 25.1 to the Registration Statement. Accordingly, this Amendment No. 1 consists
solely of the cover page (including the Calculation of Registration Fee Table), this explanatory note, Items 3, 9, 10 and 12
of Part I of the Registration Statement, Item 16 of Part II of the Registration Statement, Exhibits 4.3, 5.1, 15.1, 15.2,
15.3, 23.1, 23.2, 23.3, 23.4 and 25.1 and the signature pages. This Amendment No. 1 does not modify any provision of the
Registration Statement except as specifically noted herein. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RATIO OF EARNINGS TO FIXED CHARGES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth our ratio
of earnings to fixed charges for the periods indicated. For purposes of computing the ratio of earnings to fixed charges, earnings
represent earnings from continuing operations before income taxes, equity in earnings (loss) of investees and minority interest
plus fixed charges. Fixed charges include (a) interest on indebtedness (whether expensed or capitalized), (b) amortization premiums,
discounts and capitalized expenses related to indebtedness and (c) the portion of rent expense we believe to be representative
of interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><font style="font-size: 10pt"><b>Six Months Ended June 30,</b></font></td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD COLSPAN="18" NOWRAP STYLE="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Year Ended December 31,</b></font></td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2013</b></font></td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2012</b></font></td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2011</b></font></td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2010</b></font></td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2009</b></font></td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2008</b></font></td>
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td><font style="font-size: 10pt">Ratio of earnings to fixed charges</font></td>
    <td>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">4.5</FONT></td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">2.2</font></td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">4.8</font></td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">2.9</font></td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">4.4</font></td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">N/A<sup>(1)</sup></font></td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;&nbsp;Fixed charges exceeded earnings by approximately
$3.1 billion for fiscal 2008.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DESCRIPTION OF DEPOSITARY UNITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following description of our depositary
units does not purport to be complete and is qualified in its entirety by reference to applicable Delaware law, and to provisions
of our amended and restated agreement of limited partnership, dated as of May 12, 1987, as amended, which we refer to as our partnership
agreement, and the depositary agreement, dated as of July 1, 1987, as amended by Amendment No. 1, dated February 22, 1995, and
as amended and restated by the Amended and Restated Depositary Agreement, dated August 23, 2013, which we refer to as our depositary
agreement, entered into among us, the Registrar and Transfer Company, as depositary, which we refer to as the depositary, and the
unitholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary units represent limited partner
interests in Icahn Enterprises.&nbsp;&nbsp;The percentage interest in Icahn Enterprises represented by a depositary unit is equal
to the ratio it bears at the time of such determination to the total number of depositary units in Icahn Enterprises (including
any undeposited depositary units) outstanding, multiplied by 99%, which is the aggregate percentage interest in Icahn Enterprises
of all holders of depositary units.&nbsp;&nbsp;Subject to the rights and preferences of any preferred units that may be issued,
each depositary unit evidences entitlement to a portion of Icahn Enterprises&rsquo; distributions and an allocation of Icahn Enterprises&rsquo;
net income and net loss, as determined in accordance with our partnership agreement.&nbsp;&nbsp;We are authorized to issue additional
depositary units or other securities from time to time to unitholders or additional investors without the consent or approval of
holders of depositary units, or unitholders.&nbsp;&nbsp;There is no limit to the number of depositary units or additional classes
of units, including any preferred units, that may be issued. The board of directors of our general partner has the power, without
any further action by the unitholders, to issue units with such designations, preferences and relative, participating or other
special rights, powers and duties, including rights, powers and duties senior to existing classes of depositary units or preferred
units. The depositary units have no preemptive rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All or a portion of the depositary receipts
evidencing the depositary units may be held through the Depositary Trust Company&rsquo;s (&ldquo;DTC&rdquo;) book-entry settlement
system. All depositary receipts accepted for book-entry settlement with DTC are represented by a single receipt (the &ldquo;DTC
Receipt&rdquo;), which shall be deposited with DTC (or its custodian) evidencing all such depositary units and registered in the
name of the nominee of DTC (initially Cede &amp; Co.). The depositary or such other entity as is agreed to by DTC may hold the
DTC Receipt as custodian for DTC. Ownership of beneficial interests in the DTC Receipt will be shown on, and the transfer of such
ownership will be effected through, records maintained by (i) DTC or its nominee for such DTC Receipt, or (ii) institutions that
have accounts with DTC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Deposit of Certificates of Limited Partner Interests</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> Subject to the terms and conditions
of the Amended and Restated Depositary Agreement, on the date of any issuance of depositary units by the Icahn Enterprises, the
general partner will either (i) deposit with the depositary a certificate or certificates or (ii) in the case of uncertificated
depositary units, provide evidence of a credit to the book-entry account maintained by the Registrar, in either case evidencing
the aggregate whole number of depositary units so issued. Such deposit or book-entry credit will be accompanied by (a) written
instructions containing the name, address, social security or taxpayer identification number of and the number of depositary units
to be issued to each investor in the Partnership, and (b) a written request that the depositary execute and deliver to each such
investor depositary receipts evidencing the depositary units, registered in the name of such investor, or book-entry credit in
the name of such investor, in accordance with such written instructions. Each investor will thereupon be recognized by Icahn Enterprises
as a record holder as of the closing date of such issuance of depositary units. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Transfer of Depositary Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Until a depositary unit has been transferred
on the books of the depositary, we and the depositary will treat the record holder of the unit as the absolute owner for all purposes.&nbsp;&nbsp;A
transfer of depositary units will not be recognized by the depositary or us unless and until the transferee of the depositary units,
or a subsequent transferee, executes and delivers a transfer application to the depositary.&nbsp;&nbsp;Transfer applications appear
on the back of each depositary receipt and also will be furnished at no charge by the depositary upon request.&nbsp;&nbsp;By executing
and delivering a transfer application to the depositary, a subsequent transferee automatically requests admission as a substituted
unitholder in the partnership, agrees to be bound by the terms and conditions of our partnership agreement and grants a power of
attorney to our general partner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On a monthly basis, the depositary will,
on behalf of subsequent transferees who have submitted transfer applications, request the general partner to admit such subsequent
transferees as substituted limited partners of Icahn Enterprises.&nbsp;&nbsp;If our general partner consents to such substitution,
a subsequent transferee will be admitted to the partnership as a substituted limited partner upon the recordation of such subsequent
transferee&rsquo;s name in our books and records.&nbsp;&nbsp;Upon admission, which is in the sole discretion of our general partner,
it will be entitled to all of the rights of a limited partner under the Delaware Revised Uniform Limited Partnership Act, or the
Delaware Act, and pursuant to our partnership agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A subsequent transferee will, after submitting
a transfer application to the depositary but before being admitted to Icahn Enterprises as a substituted unitholder of record,
have the rights of an assignee under the Delaware Act and our partnership agreement, including the right to receive its pro rata
share of distributions.&nbsp;&nbsp;A subsequent transferee who does not execute and deliver a transfer application to the depositary
will not be recognized as the record holder of depositary units and will only have the right to transfer or assign its depositary
units to a purchaser or other transferee.&nbsp;&nbsp;Therefore, such subsequent transferee will neither receive distributions from
the partnership nor be entitled to vote on partnership matters or any other rights to which record holders of depositary units
are entitled under the Delaware Act or pursuant to our partnership agreement.&nbsp;&nbsp;Distributions made in respect of the depositary
units held by such subsequent transferees will continue to be paid to the transferor of such depositary units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A subsequent transferee will be deemed to
be a party to the depositary agreement and to be bound by its terms and conditions whether or not such subsequent transferee executes
and delivers a transfer application to the depositary.&nbsp;&nbsp;A transferor will have no duty to ensure the execution of a transfer
application by a subsequent transferee and will have no liability or responsibility if such subsequent transferee neglects or chooses
not to execute and deliver the transfer application to the depositary.&nbsp;&nbsp;Whenever depositary units are transferred, the
transfer application requires that a subsequent transferee answer a series of questions.&nbsp;&nbsp;The required information is
designed to provide us with the information necessary to prepare our tax information return.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Transfers of Depositary Units Held in Book-Entry Form. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Depositary units held in book-entry form shall be transferred
through DTC&rsquo;s book-entry settlement system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Withdrawal of Depositary Units from Deposit</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A unitholder may withdraw from the depositary
the depositary units represented by its depositary receipts upon written request and surrender of the depositary receipts evidencing
the depositary units in exchange for a certificate issued by us evidencing the same number of depositary units, or in the case
of uncertificated depositary units, evidence of a book-entry credit.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A subsequent transferee is required to become
a unitholder of record before being entitled to withdraw depositary units from the depositary.&nbsp;&nbsp;Depositary units that
have been withdrawn from the depositary, and therefore are not evidenced by depositary receipts, are not transferable except upon
death, by operation of law, by transfer to us or redeposit with the depositary.&nbsp;&nbsp;A holder of depositary units withdrawn
from deposit will continue to receive its respective share of distributions and allocations of net income and losses pursuant to
our partnership agreement.&nbsp;&nbsp;In order to transfer depositary units withdrawn from the depositary other than upon death,
by operation of law or to the partnership, a unitholder must redeposit the certificate evidencing such withdrawn depositary units
with the depositary and request issuance of depositary receipts representing such depositary units, which depositary receipts then
may be transferred.&nbsp;&nbsp;Any redeposit of such withdrawn depositary units with the depositary requires 60 days&rsquo; advance
written notice and payment to the depositary of a redeposit fee (initially $5.00 per 100 depositary units or portion thereof) and
will be subject to the satisfaction of certain other procedural requirements under the depositary agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Replacement of Lost Depositary Receipts and Certificates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A unitholder or subsequent transferee who
loses or has its certificate for depositary units or depositary receipts stolen or destroyed may obtain a replacement certificate
or depositary receipt by furnishing an indemnity bond and by satisfying certain other procedural requirements under the depositary
agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Amendment of Depositary Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the restrictions described below,
any provision of the depositary agreement, including the form of depositary receipt, may, at any time and from time to time, be
amended by the mutual agreement of us and the depositary in any respect deemed necessary or appropriate by us and them, without
the approval of the holders of depositary units.&nbsp;&nbsp;No amendment to the depositary agreement, however, may impair the right
of a holder of depositary units to surrender a depositary receipt and to withdraw any or all of the deposited depositary units
evidenced by a depositary receipt or to redeposit depositary units pursuant to the depositary agreement and receive a depositary
receipt evidencing redeposited depositary units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary will furnish notice to each
record holder of a depositary unit, and to each securities exchange on which depositary units are listed for trading, of any material
amendment made to the depositary agreement.&nbsp;&nbsp;Each record holder of a depositary unit at the time any amendment of the
depositary agreement becomes effective will be deemed, by continuing to hold the depositary unit, to consent and agree to the amendment
and to be bound by the depositary agreement, as so amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary will give notice of the imposition
of any fee or charge, other than fees and charges provided for in the depositary agreement, or change to the fees and charges,
upon record holders of depositary units to any securities exchange on which the depositary units are listed for trading and to
all record holders of depositary units.&nbsp;&nbsp;The imposition of any fee or charge, or change to them, will not be effective
until the expiration of 30 days after the date of such notice, unless it becomes effective in the form of an amendment to the depositary
agreement effected by us and the depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Termination of Depositary Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may not terminate the depositary agreement
unless the termination (1) is in connection with us entering into a similar agreement with a new depositary selected by the general
partner, (2) is as a result of our receipt of an opinion of counsel to the effect that the termination is necessary for us to avoid
being treated as an &ldquo;association&rdquo; taxable as a corporation for federal income tax purposes or to avoid being in violation
of any applicable federal or state securities laws or (3) is in connection with our dissolution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary will terminate the depositary
agreement, when directed to do so by us, by mailing notice of termination to the record holders of depositary units then outstanding
at least 60 days before the date fixed for the termination in such notice.&nbsp;&nbsp;Termination will be effective on the date
fixed in such notice, which date must be at least 60 days after it is mailed.&nbsp;&nbsp;Upon termination of the depositary agreement,
the depositary will discontinue the transfer of depositary units, suspend the distribution of reports, notices and disbursements
and cease to perform any other acts under the depositary agreement, except in the event the depositary agreement is not being terminated
in connection with us entering into a similar agreement with a new depositary, the depositary will assist in the facilitation of
the withdrawal of depositary units by holders who desire to surrender their depositary receipts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Resignation or Removal of Depositary</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary may resign as depositary
and may be removed by us at any time upon 60 days&rsquo; written notice.&nbsp;&nbsp;The resignation or removal of the depositary
becomes effective upon the appointment of a successor depositary by us and written acceptance by the successor depositary of its
appointment.&nbsp;&nbsp;In the event a successor depositary is not appointed within 75 days of notification of such resignation
or removal, the general partner will act as depositary until a successor depositary is appointed.&nbsp;&nbsp;Any corporation into
or with which the depositary may be merged or consolidated will be the successor depositary without the execution or filing of
any document or any further act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp; &nbsp; </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"> EXPERTS </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> The consolidated balance sheets of Icahn
Enterprises L.P. as of December 31, 2012 and 2011, and the related consolidated statements of operations, changes in equity and
comprehensive income and cash flows for each of the three years in the period ended December 31, 2012 and the financial statement
schedule, incorporated by reference in this prospectus and elsewhere in this registration statement have been audited by Grant
Thornton LLP, independent registered public accountants, as indicated in their report with respect thereto. The report of Grant
Thornton LLP and the report of the other auditor, Ernst &amp; Young LLP, independent registered public accounting firm, are incorporated
by reference herein (and in the registration statement) and upon the authority of said firms as experts in accounting and auditing.
The report of KPMG, LLP, independent registered public accounting firm, is incorporated by reference herein (and in the registration
statement) and upon the authority of said firm as experts in accounting and auditing. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> With respect to the unaudited interim
financial information of Icahn Enterprises L.P.as of June 30, 2013 and March 31, 2013 and the related consolidated statements
of operations, comprehensive income and cash flows for the three-month and six-month periods ended June 30, 2013 and 2012 and
the three-month periods ended March 31, 2013 and 2012, and the unaudited consolidated statements of changes in equity for the
three-month and six-month periods ended June 30, 2013 and March 31, 2013, respectively, incorporated by reference in this prospectus
and elsewhere in the registration statement, Grant Thornton LLP and the other auditor, KPMG LLP, have reported that they have
applied limited procedures in accordance with professional standards for a review of such information. The respective reports
of Grant Thornton LLP and the other auditor, KPMG LLP, state that they did not audit and they do not express an opinion on that
interim financial information. Accordingly, the degree of reliance on their respective reports on such information should be restricted
in light of the limited nature of the review procedures applied. In addition, Grant Thornton LLP and the other auditor, KPMG LLP,
are not subject to the liability provisions of Section 11 of the Securities Act of 1933 for their respective reports on the unaudited
interim financial information because those reports are not a''part'' of the registration statement prepared or certified by the
accountants within the meaning of Sections 7 and 11 of that Act. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> The supplemental combined balance sheets
of Icahn Enterprises L.P. as of December 31, 2012 and 2011, and the related supplemental combined statements of operations, comprehensive
income, changes in equity, and cash flows for each of the three years in the period ended December 31, 2012, incorporated
by reference in this prospectus and elsewhere in this registration statement have been audited by Grant Thornton LLP, independent
registered public accountants, as indicated in their report with respect thereto. The report of Grant Thornton LLP and the report
of the other auditor, Ernst &amp; Young LLP, independent registered public accounting firms, are incorporated by reference herein
(and in the registration statement) and upon the authority of said firms as experts in accounting and auditing. The report of
KPMG, LLP, independent registered public accounting firm, is incorporated by reference herein (and in the registration statement)
and upon the authority of said firm as experts in accounting and auditing. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> With respect to the unaudited
interim supplemental combined financial information of Icahn Enterprises L.P. as of June 30, 2013 and the related
supplemental combined statements of operations, comprehensive income (loss), for the three-month and six-month periods ended
June 30, 2013 and 2012, and the unaudited supplemental combined statements of changes in equity for the
six-month period ended June 30, 2013 and cash flows for the six-month periods ended June 30, 2013 and 2012, incorporated
by reference in this prospectus and elsewhere in the registration statement, Grant Thornton LLP and the other auditor,
KPMG, LLP, have reported that they have applied limited procedures in accordance with professional standards for a review
of such information. The respective reports of Grant Thornton LLP and the other auditor, KPMG, LLP, state that they did
not audit and they do not express an opinion on that interim supplemental combined financial information. Accordingly, the
degree of reliance on their respective reports on such information should be restricted in light of the limited nature of
the review procedures applied. In addition, Grant Thornton LLP and the other auditor, KPMG, LLP, are not subject to
the liability provisions of Section 11 of the Securities Act of 1933 for their respective reports on the unaudited
interim supplemental combined financial information because those reports are not a ''part'' of the registration statement
prepared or certified by the accountants within the meaning of Sections 7 and 11 of that Act. </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INCORPORATION OF CERTAIN DOCUMENTS BY
REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The SEC allows us to &ldquo;incorporate
by reference&rdquo; the information we file with them, which means that we can disclose important information to you by referring
you to those documents. The information incorporated by reference is considered to be part of this prospectus, and information
that we file later with the SEC will automatically update and supersede this information. We incorporate by reference the documents
listed below, all filings made pursuant to the Securities and Exchange Act of 1934 after the date of the initial registration statement
and prior to effectiveness of the registration statement and any other future filings we will make with the SEC under Section 13(a),
13(c), 14 or 15(d) of the Exchange Act (other than Current Reports on Form 8-K containing disclosure furnished under Items 2.02,
7.01 or 8.01 of Form 8-K, unless otherwise indicated therein):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Symbol">&middot;</font></td>
    <td><FONT STYLE="font-size: 10pt">Our Annual Report on Form 10-K for the fiscal year ended December 31, 2012, filed with the
    SEC on March 15 , 2013 (SEC File No. 001-09516);</FONT></td></tr>
</table>
<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Symbol">&middot;</font></td>
    <td><font style="font-size: 10pt">Our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2013 and June 30, 2013,
    filed with the SEC on May 3, 2013 and August 7, 2013, respectively (SEC File No. 001-09516);</font></td></tr>
</table>
<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px"> &nbsp; </td>
    <td style="width: 48px"><FONT STYLE="font: 10pt Symbol"> &middot; </FONT></td>
    <td><FONT STYLE="font-size: 10pt"> Our Current Reports on Form 8-K, or 8-K/A, filed with the SEC on January 29, 2013,
    February     6, 2013, February 11, 2013, February 21, 2013, March 1, 2013, March 6, 2013, March 11, 2013, March 25, 2013,
    April 24, 2013,     May 2, 2013, May 20, 2013, May 28, 2013, May 29, 2013, June 14, 2013, June 17, 2013, June 20, 2013, June
    26, 2013, July 9,     2013, July 22, 2013, August 1, 2013, August 12, 2013, August 23, 2013, and August 29, 2013 and
    September 25, 2013 (SEC File No. 001-09516). </FONT></td></tr>
</table>
<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You may request a copy of these filings
(not including the exhibits to such documents unless the exhibits are specifically incorporated by reference in the information
contained in this prospectus), at no cost, by writing or telephoning us at the following address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Icahn Enterprises L.P.<BR>
767 Fifth Avenue, Suite 4700<BR>
New York, New York 10153<BR>
Attn: Chief Financial Officer<BR>
Telephone requests may be directed to (212) 702-4300</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<BR>
<FONT STYLE="font-size: 10pt"><B>PART II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION NOT REQUIRED IN PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 16. Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify"><I>Exhibits</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See the accompanying Exhibit Index.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
for filing a Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in New York, New York on September 25 , 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.25in; text-indent: -0.3in"><B>ICAHN ENTERPRISES L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.25in; text-indent: -0.3in">By: Icahn Enterprises G.P. Inc.,
its general partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6in; text-indent: 0in"><U>/s/ Daniel A. Ninivaggi&#9;</U><BR>
Daniel A. Ninivaggi<BR>
President, Chief Executive Officer and Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates
indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 35%; padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Daniel A. Ninivaggi</FONT></td>
    <TD STYLE="width: 3%; padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="width: 35%; padding-bottom: 0pt; text-indent: 0in"><font style="font-size: 10pt">President, Chief Executive Officer and Director</font></td>
    <TD NOWRAP STYLE="width: 10%; padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">September 25 , 2013</FONT></td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Daniel A. Ninivaggi</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid">*</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Chief Financial Officer and
    Director</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><U></U></FONT><br>
<FONT STYLE="font-size: 10pt">SungHwan Cho</FONT></td>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></td>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid">*</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Chief Accounting Officer</FONT></TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><font style="font-size: 10pt"><u></u></font><br>
<font style="font-size: 10pt">Peter Reck</font></td>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"></td>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid"> * </TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Director</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><U></U></FONT><br>
<FONT STYLE="font-size: 10pt">Jack G. Wasserman</FONT></td>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><font style="font-size: 10pt"></font></td>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid">*</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Director</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><U></U></FONT><br>
<FONT STYLE="font-size: 10pt">William A. Leidesdorf</FONT></td>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"></td>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid"> * </TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Director</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><font style="font-size: 10pt"><u></u></font><br>
<font style="font-size: 10pt">James L. Nelson</font></td>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"></td>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid">*</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Director</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Keith Cozza</td>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"></td>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Chairman of the Board</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Carl C. Icahn</FONT></td>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"></td>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">* The undersigned does hereby sign this Amendment No. 1 to Registration
        Statement on behalf of the above indicated officer or director of the general partner of Icahn Enterprises L.P. pursuant to a power
        of attorney executed by such director.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid; width: 35%">/s/ Daniel A. Ninivaggi</TD>
    <TD STYLE="padding-bottom: 0pt; width: 3%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; width: 35%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Daniel A. Ninivaggi</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Attorney-in-Fact</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
for filing a Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in New York, New York on September 25 , 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.25in; text-indent: -0.3in"><B>ICAHN ENTERPRISES FINANCE
CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.8in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6in; text-indent: 0in"><U>/s/ Daniel A. Ninivaggi&#9;</U><BR>
Daniel A. Ninivaggi<BR>
President, Chief Executive Officer and Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates
indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Daniel A. Ninivaggi</FONT></TD>
    <TD STYLE="width: 3%; padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="width: 35%; padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">President, Chief Executive Officer and Director</FONT></TD>
    <TD NOWRAP STYLE="width: 10%; padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">September 25 , 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Daniel A. Ninivaggi</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid">*</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Chief Financial Officer and
    Director</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">SungHwan Cho</FONT></TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid">*</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Chief Accounting Officer</FONT></TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Peter Reck</FONT></TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"></TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid"> * </TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Director</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Jack G. Wasserman</FONT></TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid">*</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Director</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">William A. Leidesdorf</FONT></TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"></TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid"> * </TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Director</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">James L. Nelson</FONT></TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"></TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid">*</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Director</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Keith Cozza</FONT></TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"></TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Chairman of the Board</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Carl C. Icahn</FONT></TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in"></TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">* The undersigned does hereby sign this Amendment No. 1 to Registration
        Statement on behalf of the above indicated officer or director of the general partner of Icahn Enterprises L.P. pursuant to a power
        of attorney executed by such director.</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; border-bottom: Black 1pt solid; width: 35%">/s/ Daniel A. Ninivaggi</TD>
    <TD STYLE="padding-bottom: 0pt; width: 3%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; width: 35%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in; width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Daniel A. Ninivaggi</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">Attorney-in-Fact</TD>
    <TD STYLE="padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0pt; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 7%; padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Exhibit
No.</B></P></td>
    <TD STYLE="width: 93%; padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Description&nbsp;</B></P></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">1.1</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Form of Underwriting Agreement. *</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">4.1</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Depositary Agreement among Icahn Enterprises, Icahn Enterprises G.P. Inc. and Registrar and Transfer Company, dated as of July 1, 1987 (incorporated by reference to Exhibit 4.1 to Icahn Enterprises&rsquo; Form&nbsp;10-Q for the quarter ended March 31, 2004 (SEC File No. 1-9516), filed on May 10, 2004).</font></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">4.2</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Amendment No. 1 to the Depositary Agreement dated as of February 22, 1995 (incorporated by reference to Exhibit 4.2 to Icahn Enterprises&rsquo; Form 10-K for the year ended December 31, 1994 (SEC File No. 1-9516), filed on March 31, 1995).</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">4.3</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Amended and Restated Depositary Agreement dated as of August 23, 2013 (incorporated by reference to Exhibit 10.1 to Icahn Enterprises&rsquo; Form 8-K (SEC File No. 1-9516), filed on August 23, 2013). </font></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">4.4</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Specimen Depositary Receipt (incorporated by reference to Exhibit 4.3 to Icahn Enterprises&rsquo;</font><br>
<font style="font-size: 10pt">Form 10-K for the year ended December 31, 2004 (SEC File No. 1-9516), filed on March 16, 2005).</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">4.5</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Form of Transfer Application (incorporated by reference to Exhibit 4.4 to Icahn Enterprises&rsquo;</font><br>
<font style="font-size: 10pt">Form 10-K for the year ended December 31, 2004 (SEC File No. 1-9516), filed on March 16, 2005).</font></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">4.6</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Specimen Certificate representing preferred units (incorporated by reference to Exhibit No. 4.9 to Icahn Enterprises&rsquo; Form S-3 (SEC File No. 33-54767), filed on February 22, 1995).</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">4.7</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Form of Indenture.***</font></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">4.8</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Form of Indenture (Subordinated Debt Securities).***</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">4.9</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Form of Warrant Agreement and Warrant Certificate. *</font></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">4.10</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Form of Rights Agreement and Rights Certificate. *</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">5.1</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Opinion of Proskauer Rose LLP.<sup> </sup>**</font></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">12.1</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Statement regarding computation of ratios.**</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt">15.1</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt">Letter of Grant Thornton LLP regarding unaudited interim financial information. **</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt">15.2</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt">Letter of Grant Thornton LLP regarding unaudited interim financial information. **</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><FONT STYLE="font-size: 10pt"> 15.3 </FONT></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt">Letter of KPMG LLP regarding unaudited interim
financial information. **</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt">23.1</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt">Consent of Grant Thornton LLP.**</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt">23.2</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt">Consent of Grant Thornton LLP.**</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><FONT STYLE="font-size: 10pt"> 23.3 </FONT></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Consent of Ernst &amp; Young LLP.**</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><FONT STYLE="font-size: 10pt"> 23.4 </FONT></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Consent of KPMG LLP.**</font></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><FONT STYLE="font-size: 10pt"> 23.5 </FONT></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Consent of Proskauer Rose LLP (included in Exhibit 5.1).<sup> </sup>**</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">24.1</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Power of Attorney (included on the signature pages to this From S-3).***</font></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">25.1</font></td>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 0pt; padding-left: 5.75pt"><font style="font-size: 10pt">Form T-1, Statement of Eligibility and Qualification under the Trust Indenture Act of 1939 under the Indenture.**</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">*&#9;To be filed by amendment
or as an exhibit to a report pursuant to Section 13(a), &#9;13(c) or 15(d) of the Exchange Act, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">**</TD><TD>Filed herewith.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">***</TD><TD>Previously filed.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>v355584_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">September 25, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Icahn Enterprises L.P.<BR>
Icahn Enterprises Finance Corp.<BR>
767 Fifth Avenue, Suite 4700<BR>
New York, NY 10153</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have acted as counsel
to Icahn Enterprises L.P., a Delaware limited partnership (&ldquo;Icahn Enterprises&rdquo;), and Icahn Enterprises Finance Corp.
(&ldquo;Icahn Enterprises Finance&rdquo;), with respect to the preparation and filing of a Registration Statement on Form S-3 with
the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) on May 3, 2013 (the &ldquo;Registration Statement&rdquo;),
in connection with the offer and sale by Icahn Enterprises from time to time, pursuant to Rule 415 under the Securities Act of
1933, as amended (the &ldquo;Securities Act&rdquo;), of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;depositary
units representing limited partner interests in Icahn Enterprises (the &ldquo;Depositary Units&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;preferred
units of Icahn Enterprises having rights senior to the Depositary Units (the &ldquo;Preferred Units&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;debt
securities, which may be co-issued by Icahn Enterprises Finance, and which may be either senior debt securities or subordinated
debt securities (the &ldquo;Debt Securities&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
guarantee by Icahn Enterprises (the &ldquo;Guarantee&rdquo;) with respect to any Debt Securities issued by Icahn Enterprises Finance;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;warrants
to purchase Depositary Units, Preferred Units or Debt Securities evidenced by warrant certificates independently or together with
any securities offered by a prospectus supplement (the &ldquo;Warrants&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;rights
to purchase Depositary Units, Preferred Units or Debt Securities (the &ldquo;Rights&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;units of a combination of two or more of the securities
described in clauses (a) through (f) above (the &ldquo;Units&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Depositary Units,
the Preferred Units, the Debt Securities, the Guarantee, the Warrants, the Rights and the Units are collectively referred to herein
as the &ldquo;Securities&rdquo; and each, a &ldquo;Security.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In rendering this opinion,
we have examined originals or copies, certified or otherwise identified to our satisfaction, of such corporate or comparable documents,
certificates of public officials and officers and representatives of Icahn Enterprises G.P. Inc., the general partner of Icahn
Enterprises (the &ldquo;General Partner&rdquo;), and the officers and representatives of Icahn Enterprises Finance, and such other
documents, records and instruments, and we have made such inquiries of such officers and representatives of the General Partner
and Icahn Enterprises Finance as we have deemed necessary or appropriate as a basis for our opinion. In our examination, we have
assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity and completeness of all
documents submitted to us as originals and the conformity to authentic originals and completeness of all documents submitted to
us as photostatic, conformed, notarized or certified copies as we considered necessary or appropriate for enabling us to express
the opinions set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As to facts material
to the opinions, statements and assumptions expressed herein, we have, with your consent, relied upon oral or written statements
and representations of officers and other representatives of Icahn Enterprises. We have not independently verified such factual
matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based upon, and subject
to, the foregoing, assuming no change in the applicable law or pertinent facts, we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Depositary Units, upon receipt by Icahn Enterprises of such lawful consideration therefor as the Board of Directors of the General
Partner (or a duly authorized committee thereof) may determine, (i) will be validly issued, fully paid and purchasers of the Depositary
Units will not have any obligation to make payments to Icahn Enterprises or its creditors (other than the purchase price for the
Depositary Units) or contributions to Icahn Enterprises or its creditors solely by reason of the purchasers' ownership of Depositary
Units and (ii) will entitle the holder thereof to the rights specified in the amended and restated depositary agreement among Icahn
Enterprises, the General Partner and Registrar and Transfer Company, dated as of August 23, 2013 (the &ldquo;Depositary Agreement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Preferred Units, upon receipt by Icahn Enterprises of such lawful consideration therefor as the Board of Directors of the General
Partner (or a duly authorized committee thereof) may determine, will be validly issued, fully paid and purchasers of the Depositary
Units will not have any obligation to make payments to Icahn Enterprises or its creditors (other than the purchase price for the
Depositary Units) or contributions to Icahn Enterprises or its creditors solely by reason of the purchasers' ownership of Depositary
Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Debt Securities and the Guarantee, upon receipt by Icahn Enterprises and Icahn Enterprises Finance of such lawful consideration
therefor as the Board of Directors of the General Partner and the Board of Directors of Icahn Enterprises Finance (or a duly authorized
committee thereof) may determine, will constitute valid and binding obligations of Icahn Enterprises and Icahn Enterprises Finance,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Warrants, upon receipt by Icahn Enterprises of such lawful consideration therefor as the Board of Directors of the General Partner
(or a duly authorized committee thereof) may determine, will constitute valid and binding obligations of Icahn Enterprises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Rights, upon receipt by Icahn Enterprises of such lawful consideration therefor as the Board of Directors of the General Partner
(or a duly authorized committee thereof) may determine, will constitute valid and binding obligations of Icahn Enterprises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Units, upon receipt by Icahn Enterprises of such lawful consideration therefor as the Board of Directors of the General Partner
(or a duly authorized committee thereof) may determine, will constitute valid and binding obligations of Icahn Enterprises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In rendering the foregoing
opinions, we have assumed that: (i) the Registration Statement, and any amendments thereto, will have become effective (and will
remain effective at the time of issuance of any Securities thereunder); (ii) a prospectus supplement describing each class and/or
series of Securities offered pursuant to the Registration Statement, to the extent required by applicable law and relevant rules
and regulations of the Commission, will be timely filed with the Commission; (iii) the definitive terms of each class and/or series
of Securities will have been established in accordance with the authorizing resolutions of the Board of Directors of the General
Partner and the Board of Directors of Icahn Enterprises Finance, respectively (or a duly authorized committee thereof), each of
their respective organizational and governing documents and applicable law; (iv) Icahn Enterprises and Icahn Enterprises Finance
will issue and deliver the Securities in the manner contemplated by the Registration Statement and any Securities will have been
duly authorized and reserved for issuance; (v) the resolutions authorizing the issuance, offering and sale of the Securities will
have been adopted by the Board of Directors of the General Partner and, if applicable, the Board of Directors of Icahn Enterprises
Finance and will be in full force and effect at all times at which the Securities are offered or sold by Icahn Enterprises and,
if applicable, Icahn Enterprises Finance; (vi) a definitive purchase, underwriting or similar agreement with respect to any Securities
will have been duly authorized and validly executed and delivered by the Board of Directors of the General Partner and the other
parties thereto; and (vii) all Securities will be issued in compliance with applicable federal and state securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With respect to any
Securities consisting of Depositary Units, we have further assumed that the Units will be duly authorized, executed and delivered
by the General Partner in accordance with the provisions of the Depositary Agreement and any applicable conditions in the Depositary
Agreement have been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With respect to any
Securities consisting of any series of Debt Securities and with respect to the Guarantee, we have further assumed that: (i) such
Debt Securities and Guarantee will have been issued pursuant to an applicable indenture that has been duly authorized, executed
and delivered by Icahn Enterprises and Icahn Enterprises Finance and the applicable trustee in a form approved by us, and such
indenture will have been qualified under the Trust Indenture Act of 1939 and will be governed by and construed in accordance with
New York law; (ii) such Debt Securities and Guarantee will be duly executed, authenticated, issued and delivered in accordance
with the provisions of the applicable indenture; and (iii) the adequacy of the consideration that supports the guarantor&rsquo;s
agreement and the solvency and adequacy of capital of the guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With respect to any
Securities consisting of Preferred Units, we have further assumed that Icahn Enterprises issues and delivers the units after an
amendment to its partnership agreement establishing the designations, preferences and rights of the class or series of the Preferred
Units being issued, and duly authorized, executed and delivered by the General Partner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With respect to any
Securities consisting of Warrants, we have further assumed that (i) a Warrant agreement relating to the Warrants (the &ldquo;Warrant
Agreement&rdquo;) to be entered into between Icahn Enterprises and an entity selected by Icahn Enterprises to act as the Warrant
agent (the &ldquo;Warrant Agent&rdquo;) will have been duly authorized, executed and delivered by the General Partner and (ii)&nbsp;the
Warrants will be duly authorized, executed and delivered by the General Partner and the Warrant Agent in accordance with the provisions
of the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With respect to any
Securities consisting of Units, we have further assumed that (i) a Unit agreement relating to the Unit (the &ldquo;Unit Agreement&rdquo;)
to be entered into between Icahn Enterprises and an entity selected by Icahn Enterprises to act as the Unit agent (the &ldquo;Unit
Agent&rdquo;) will have been duly authorized, executed and delivered by the General Partner and (ii)&nbsp;the Unit certificates
will be duly authorized, executed and delivered by the General Partner in accordance with the provisions of the Unit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The opinion expressed
above is limited by, subject to and based on the assumptions, limitations and qualifications set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
validity and binding effect of the Securities may be limited or affected by bankruptcy, reorganization, insolvency, fraudulent
conveyance, moratorium or other similar laws relating to or affecting creditors&rsquo; rights generally and by general equitable
principles (regardless of whether such validity and binding effect are considered in a proceeding in equity or at law), and may
be limited by applicable laws or policies underlying such laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
foregoing opinion is limited to the laws of the State of New York and the Delaware General Corporation Law and the Delaware Revised
Uniform Limited Partnership Act. We do not express any opinion herein concerning the laws of any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We hereby consent to
the filing of this opinion with the Commission as an exhibit to the Registration Statement and to the reference to our firm under
the caption &ldquo;Legal Matters&rdquo; in the prospectus included in the Registration Statement. In giving this consent, we do
not admit that we are included in the category of persons whose consent is required under Section 7 of the Securities Act or the
rules and regulations of the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/ Proskauer Rose LLP</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>


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<TYPE>EX-12.1
<SEQUENCE>3
<FILENAME>v355584_ex12-1.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 12.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICAHN ENTERPRISES L.P. AND SUBSIDIARES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RATIO OF EARNINGS TO FIXED CHARGES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(in millions, except ratio)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Six Months Ended<BR> June 30,</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Year Ended December 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2008</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Earnings:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 22%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -7pt; padding-left: 7pt">Income (loss) from continuing operations before income taxes, income (loss) from equity method investees and non-controlling interests</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">971</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">611</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">1,768</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">728</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">1,154</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">(3,084</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1.5pt">Fixed charges</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">277</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">556</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">467</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">415</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">346</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">381</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 1.5pt">Distributed income of equity investees</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">31</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">16</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">43</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">7</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">28</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 1.5pt">Total Earnings</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,252</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,198</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">2,251</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,186</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,507</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,675</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 1.5pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1.5pt">Fixed Charges:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 1.5pt">Interest expensed and capitalized</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">260</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">522</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">436</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">389</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">319</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">358</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 1.5pt">Estimated interest within rental expense</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">17</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">34</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">31</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">26</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">27</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">23</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 1.5pt">Total Fixed Charges</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">277</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">556</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">467</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">415</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">346</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">381</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-left: 1.5pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 1.5pt">Ratio of earnings to fixed charges</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4.5</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">2.2</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4.8</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">2.9</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4.4</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">n/a</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 1.5pt">Dollar shortfall</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">n/a</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">n/a</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">n/a</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">n/a</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">n/a</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,056</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>4
<FILENAME>v355584_ex15-1.htm
<DESCRIPTION>EXHIBIT 15.1
<TEXT>
<HTML>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 15.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ACKNOWLEDGEMENT OF INDEPENDENT REGISTERED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To the Partners of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Icahn Enterprises L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have reviewed, in accordance with the standards of the Public
Company Accounting Oversight Board (United States), the unaudited consolidated interim financial information of Icahn Enterprises
L.P. and subsidiaries as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&middot;&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">As of March 31, 2013, and for the three-month periods ended March 31, 2013 and 2012, as indicated in our report dated May 3, 2013; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&middot;&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">As of June 30, 2013, and for the three-month and six-month periods ended June 30, 2013 and 2012, as indicated in our report dated August 7, 2013.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Because we did not perform an audit, we expressed no opinion
on that information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are aware that our reports referred to above, which were
included in your respective Quarterly Reports on Form 10-Q for the quarters ended March 31, 2013 and June 30, 2013, are incorporated
by reference in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We also are aware that the aforementioned reports, pursuant
to Rule 436(c) under the Securities Act of 1933, are not considered a part of the Registration Statement prepared or certified
by an accountant within the meaning of Sections 7 and 11 of that Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Grant Thornton LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 25, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.2
<SEQUENCE>5
<FILENAME>v355584_ex15-2.htm
<DESCRIPTION>EXHIBIT 15.2
<TEXT>
<HTML>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 15.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ACKNOWLEDGEMENT OF INDEPENDENT REGISTERED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To the Partners of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Icahn Enterprises L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have reviewed, in accordance with the standards of the Public
Company Accounting Oversight Board (United States), the unaudited supplemental combined interim financial information of Icahn
Enterprises L.P. and subsidiaries as of June 30, 2013, and for the three-month and six-month periods ended June 30, 2013 and 2012,
as indicated in our report dated September 25, 2013; because we did not perform an audit, we expressed no opinion on that information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are aware that our report referred to above, which was included
in your Current Report on Form 8-K filed on September 25, 2013, is incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We also are aware that the aforementioned report, pursuant to
Rule 436(c) under the Securities Act of 1933, is not considered a part of the Registration Statement prepared or certified by an
accountant within the meaning of Sections 7 and 11 of that Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Grant Thornton LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 25, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-15.3
<SEQUENCE>6
<FILENAME>v355584_ex15-3.htm
<DESCRIPTION>EXHIBIT 15.3
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">



<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 15.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With respect to the registration statement on Form S-3 of Icahn
Enterprises L.P. and Icahn Enterprises Finance Corp., we acknowledge our awareness of the incorporation by reference therein of
our report, dated August 2, 2013 related to our review of financial information of CVR Energy, Inc. as of June 30, 2013 and for
the three-month and six-month period then ended, included in the Icahn Enterprises L.P. and Icahn Enterprises Holdings L.P. joint
Quarterly Report on Form 10-Q for the quarter ended June 30, 2013 and joint Form 8-K dated September 25, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to Rule 436 under the Securities Act of 1933 (the Act),
such report is not considered part of a registration statement prepared or certified by an independent registered public accounting
firm, or a report prepared or certified by an independent registered public accounting firm within the meaning of Sections 7 or
11 of the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">/s/KPMG LLP</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Houston, Texas</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">September 25, 2013</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>7
<FILENAME>v355584_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have issued our reports dated March 14, 2013 with respect
to the consolidated financial statements, schedule and internal control over financial reporting included in the Annual Report
on Form 10-K for the year ended December 31, 2012 of Icahn Enterprises L.P. and subsidiaries, which are incorporated by reference
in this Registration Statement.&nbsp; We consent to the incorporation by reference in this Registration Statement of the aforementioned
reports, and to the use of our name as it appears under the caption &quot;Experts.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Grant Thornton LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 25, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>8
<FILENAME>v355584_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<HTML>
<HEAD>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 23.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have issued our report dated September 25, 2013 with respect
to the supplemental combined financial statements of Icahn Enterprises L.P. and subsidiaries as of December 31, 2012 and 2011 and
for the three years in the period ended December 31, 2012, included in the Current Report on Form 8-K filed on September 25, 2013,
which is incorporated by reference in this Registration Statement.&nbsp; We consent to the incorporation by reference in this Registration
Statement of the aforementioned report, and to the use of our name as it appears under the caption &quot;Experts.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Grant Thornton LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 25, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-23.3
<SEQUENCE>9
<FILENAME>v355584_ex23-3.htm
<DESCRIPTION>EXHIBIT 23.3
<TEXT>
<HTML>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 23.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the incorporation by reference in the Registration
Statement (Amendment No.1 to Form S-3 No. 333-188360) of Icahn Enterprises L.P. of our report dated February 28, 2012 (except for
Notes 2, 3 and 10 as to which the date is February 27, 2013, Note 7 as to which the date is April 26, 2013 and Notes 4, 5, 20 and
23 as to which the date is July 22, 2013),<FONT STYLE="color: black"> with respect to the consolidated financial statements of
Federal-Mogul Corporation as of December 31, 2011 and for the years ended December 31, 2011 and 2010, (not presented herein) that
were included in the July 22, 2013 Form 8-K of Federal-Mogul Corporation filed with the Securities and Exchange Commission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/Ernst &amp; Young LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Detroit, Michigan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 25, 2013<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-23.4
<SEQUENCE>10
<FILENAME>v355584_ex23-4.htm
<DESCRIPTION>EXHIBIT 23.4
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consent of Independent Registered Public
Accounting Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the incorporation by reference in the registration
statement on Form S-3 of Icahn Enterprises L.P. and Icahn Enterprises Finance Corp. of our reports dated March 14, 2013, with respect
to the consolidated balance sheet of CVR Energy, Inc. and subsidiaries as of December 31, 2012 and the related consolidated statements
of operations, comprehensive income, changes in equity, and cash flows for the period from May 5, 2012 to December 31, 2012, and
the effectiveness of internal control over financial reporting of CVR Energy, Inc. and subsidiaries as of December 31, 2012, which
reports appear in the Icahn Enterprises L.P. and Icahn Enterprises Holdings L.P. joint annual report on Form 10-K for the year ended
December 31, 2012 filed with the Securities and Exchange Commission on March 14, 2013 and the joint Form 8-K dated September 25,
2013, and to the reference to our firm under the caption &ldquo;Experts&quot; in the prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">/s/ KPMG LLP</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Houston, Texas</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">September 25, 2013</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
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<TYPE>EX-25.1
<SEQUENCE>11
<FILENAME>v355584_ex25-1.htm
<DESCRIPTION>EXHIBIT 25.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">File No.____________</P>



<P STYLE="margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>FORM T-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>STATEMENT OF ELIGIBILITY UNDER THE TRUST
INDENTURE ACT OF 1939</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>OF A CORPORATION DESIGNATED TO ACT AS
TRUSTEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>TRUSTEE PURSUANT TO SECTION 305(b)(2)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">(Exact name of trustee as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">16-1486454</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">(I.R.S. employer identification no.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">1100 North Market Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">Wilmington, DE 19890</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">Robert C. Fiedler</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">Vice President and Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">1100 North Market Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">Wilmington, Delaware 19890</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">(302) 651-8541</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">(Name, address and telephone number of agent
for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>ICAHN ENTERPRISES L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">(Exact name of obligor as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 10pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 50%; font: 10pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;<B>13-3398766</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(State of incorporation)</FONT></TD>
    <TD STYLE="font: 10pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;(I.R.S. employer identification no.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICAHN ENTERPRISES FINANCE CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of obligor as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 10pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 50%; font: 10pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>20-1059842</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction or incorporation
        or</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">organization)</P></TD>
    <TD STYLE="font: 10pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(I.R.S. Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>767 Fifth Avenue &ndash; Suite 4700</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>New York, New York 10153</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0">(Address of principal executive offices,
including zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>Debt Securities (including Guarantees
of Non-Convertible Debt) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0">(Title of the indenture securities)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 48pt"><B>Item 1.</B></TD><TD><B>GENERAL INFORMATION. </B>Furnish the following information as to the trustee:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.67in"></TD><TD STYLE="width: 0.42in; text-align: left"><I>(a)</I></TD><TD STYLE="text-align: justify"><I>Name and address of each examining or supervising
authority to which it is subject.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 78pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 78pt">Comptroller of Currency, Washington, D.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt">Federal Deposit Insurance Corporation, Washington,
D.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.67in"></TD><TD STYLE="width: 0.42in; text-align: left"><I>(b)</I></TD><TD STYLE="text-align: justify"><I>Whether it is authorized to exercise corporate trust
powers.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 78pt">Yes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 48pt"><B>Item 2.</B></TD><TD><B>AFFILIATIONS WITH THE OBLIGOR<I>. </I></B><I>If the obligor is an affiliate of the trustee, describe each affiliation:</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.25pt">Based upon an examination of the books and records
of the trustee and upon information furnished by the obligor, the obligor is not an affiliate of the trustee.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 48pt"><B>Item 16.</B></TD><TD><B>LIST OF EXHIBITS. </B>Listed below are all exhibits filed as part of this Statement of Eligibility and Qualification.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>A copy of the Charter for Wilmington Trust, National Association, incorporated by reference to Exhibit 1 of Form T-1.</TD></TR></TABLE>

<P STYLE="font: 10pt Courier; margin: 0pt 0; text-indent: 52.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">The authority of Wilmington Trust, National Association
to commence business was granted under the Charter for Wilmington Trust, National Association, incorporated herein by reference
to Exhibit 1 of Form T-1.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 52.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 52.5pt"></TD><TD STYLE="width: 19.5pt">3.</TD><TD>The authorization to exercise corporate trust powers was granted under the Charter for Wilmington Trust, National Association,
incorporated herein by reference to Exhibit 1 of Form T<B>-</B>1.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">4.</TD><TD>A copy of the existing By-Laws of Trustee, as now in effect, incorporated herein by reference to Exhibit 4 of form T-1.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">Not applicable.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">6.</TD><TD>The consent of Trustee as required by Section 321(b) of the Trust Indenture Act of 1939, incorporated herein by reference to
Exhibit 6 of Form T-1.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">7.</TD><TD>Current Report of the Condition of Trustee, published pursuant to law or the requirements of its supervising or examining authority,
attached as Exhibit 7.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">8.</TD><TD>Not applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">9.</TD><TD>Not applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Trust Indenture Act of 1939,
as amended, the trustee, Wilmington Trust, National Association, a national banking association organized and existing under the
laws of the United States of America, has duly caused this Statement of Eligibility to be signed on its behalf by the undersigned,
thereunto duly authorized, all in the City of Wilmington and State of Delaware on September 25, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>WILMINGTON TRUST,</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>NATIONAL ASSOCIATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 4%; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: windowtext 1pt solid; font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    Mary C. St. Amand</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:&nbsp;&nbsp;Mary
    C. St. Amand</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:&nbsp;&nbsp;&nbsp;&nbsp;Vice President</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: -3.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CHARTER OF WILMINGTON TRUST, NATIONAL
ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLES OF ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For the purpose of organizing an association
to perform any lawful activities of national banks, the undersigned do enter into the following articles of association:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">FIRST.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
title of this association shall be Wilmington Trust, National Association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SECOND.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
main office of the association shall be in the City of Wilmington, County of New Castle, State of Delaware. The general business
of the association shall be conducted at its main office and its branches.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">THIRD.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
board of directors of this association shall consist of not less than five nor more than twenty-five persons, unless the OCC has
exempted the bank from the 25-member limit. The exact number is to be fixed and determined from time to time by resolution of a
majority of the full board of directors or by resolution of a majority of the shareholders at any annual or special meeting thereof.
Each director shall own common or preferred stock of the association or of a holding company owning the association, with an aggregate
par, fair market or equity value $1,000. Determination of these values may be based as of either (i) the date of purchase or (ii)
the date the person became a director, whichever value is greater. Any combination of common or preferred stock of the association
or holding company may be used.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Any vacancy in the board of directors may
be filled by action of a majority of the remaining directors between meetings of shareholders. The board of directors may not increase
the number of directors between meetings of shareholders to a number which:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD>exceeds by more than two the number of directors last elected by shareholders where the number was 15 or less; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD>exceeds by more than four the number of directors last elected by shareholders where the number was 16 or more, but in no event
shall the number of directors exceed 25, unless the OCC has exempted the bank from the 25-member limit.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Directors shall be elected for terms of
one year and until their successors are elected and qualified. Terms of directors, including directors selected to fill vacancies,
shall expire at the next regular meeting of shareholders at which directors are elected, unless the directors resign or are removed
from office. Despite the expiration of a director's term, the director shall continue to serve until his or her successor is elected
and qualifies or until there is a decrease in the number of directors and his or her position is eliminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Honorary or advisory members of the board
of directors, without voting power or power of final decision in matters concerning the business of the association, may be appointed
by resolution of a majority of the full board of directors, or by resolution of shareholders at any annual or special meeting.
Honorary or advisory directors shall not be counted to determine the number of directors of the association or the presence of
a quorum in connection with any board action, and shall not be required to own qualifying shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">FOURTH.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
shall be an annual meeting of the shareholders to elect directors and transact whatever other business may be brought before the
meeting. It shall be held at the main office or any other convenient place the board of directors may designate, on the day of
each year specified therefor in the bylaws, or, if that day falls on a legal holiday in the state in which the association is located,
on the next following banking day. If no election is held on the day fixed, or in the event of a legal holiday on the following
banking day, an election may be held on any subsequent day within 60 days of the day fixed, to be designated by the board of directors,
or, if the directors fail to fix the day, by shareholders representing two-thirds of the shares issued and outstanding. In all
cases at least 10 days advance notice of the time, place and purpose of a shareholders&rsquo; meeting shall be given to the shareholders
by first class mail, unless the OCC determines that an emergency circumstance exists. The sole shareholder of the bank is permitted
to waive notice of the shareholders&rsquo; meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In all elections of directors, the number
of votes each common shareholder may cast will be determined by multiplying the number of shares such shareholder owns by the number
of directors to be elected. Those votes may be cumulated and cast for a single candidate or may be distributed among two or more
candidates in the manner selected by the shareholder. If, after the first ballot, subsequent ballots are necessary to elect directors,
a shareholder may not vote shares that he or she has already fully cumulated and voted in favor of a successful candidate. On all
other questions, each common shareholder shall be entitled to one vote for each share of stock held by him or her.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Nominations for election to the board of
directors may be made by the board of directors or by any stockholder of any outstanding class of capital stock of the association
entitled to vote for election of directors. Nominations other than those made by or on behalf of the existing management shall
be made in writing and be delivered or mailed to the president of the association not less than 14 days nor more than 50 days prior
to any meeting of shareholders called for the election of directors; provided, however, that if less than 21 days notice of the
meeting is given to shareholders, such nominations shall be mailed or delivered to the president of the association not later than
the close of business on the seventh day following the day on which the notice of meeting was mailed. Such notification shall contain
the following information to the extent known to the notifying shareholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD>The name and address of each proposed nominee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD>The principal occupation of each proposed nominee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3)</TD><TD>The total number of shares of capital stock of the association that will be voted for each proposed nominee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4)</TD><TD>The name and residence address of the notifying shareholder.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5)</TD><TD>The number of shares of capital stock of the association owned by the notifying shareholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">Nominations not made in accordance
herewith may, in his/her discretion, be disregarded by the chairperson of the meeting, and the vote tellers may disregard all votes
cast for each such nominee. No bylaw may unreasonably restrict the nomination of directors by shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">A director may resign at any
time by delivering written notice to the board of directors, its chairperson, or to the association, which resignation shall be
effective when the notice is delivered unless the notice specifies a later effective date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">A director may be removed by
shareholders at a meeting called to remove the director, when notice of the meeting stating that the purpose or one of the purposes
is to remove the director is provided, if there is a failure to fulfill one of the affirmative requirements for qualification,
or for cause; provided, however, that a director may not be removed if the number of votes sufficient to elect the director under
cumulative voting is voted against the director's removal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">FIFTH.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
authorized amount of capital stock of this association shall be ten thousand shares of common stock of the par value of one hundred
dollars ($100) each; but said capital stock may be increased or decreased from time to time, according to the provisions of the
laws of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No holder of shares of the capital stock
of any class of the association shall have any preemptive or preferential right of subscription to any shares of any class of stock
of the association, whether now or hereafter authorized, or to any obligations convertible into stock of the association, issued,
or sold, nor any right of subscription to any thereof other than such, if any, as the board of directors, in its discretion, may
from time to time determine and at such price as the board of directors may from time to time fix. Preemptive rights also must
be approved by a vote of holders of two-thirds of the bank&rsquo;s outstanding voting shares. Unless otherwise specified in these
articles of association or required by law, (1) all matters requiring shareholder action, including amendments to the articles
of association, must be approved by shareholders owning a majority voting interest in the outstanding voting stock, and (2) each
shareholder shall be entitled to one vote per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise specified in these articles
of association or required by law, all shares of voting stock shall be voted together as a class, on any matters requiring shareholder
approval. If a proposed amendment would affect two or more classes or series in the same or a substantially similar way, all the
classes or series so affected must vote together as a single voting group on the proposed amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Shares of one class or series may be issued
as a dividend for shares of the same class or series on a pro rata basis and without consideration. Shares of one class or series
may be issued as share dividends for a different class or series of stock if approved by a majority of the votes entitled to be
cast by the class or series to be issued, unless there are no outstanding shares of the class or series to be issued. Unless otherwise
provided by the board of directors, the record date for determining shareholders entitled to a share dividend shall be the date
authorized by the board of directors for the share dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise provided in the bylaws,
the record date for determining shareholders entitled to notice of and to vote at any meeting is the close of business on the day
before the first notice is mailed or otherwise sent to the shareholders, provided that in no event may a record date be more than
70 days before the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If a shareholder is entitled to fractional
shares pursuant to a stock dividend, consolidation or merger, reverse stock split or otherwise, the association may: (a) issue
fractional shares; (b) in lieu of the issuance of fractional shares, issue script or warrants entitling the holder to receive a
full share upon surrendering enough script or warrants to equal a full share; (c) if there is an established and active market
in the association's stock, make reasonable arrangements to provide the shareholder with an opportunity to realize a fair price
through sale of the fraction, or purchase of the additional fraction required for a full share; (d) remit the cash equivalent of
the fraction to the shareholder; or (e) sell full shares representing all the fractions at public auction or to the highest bidder
after having solicited and received sealed bids from at least three licensed stock brokers; and distribute the proceeds pro rata
to shareholders who otherwise would be entitled to the fractional shares. The holder of a fractional share is entitled to exercise
the rights for shareholder, including the right to vote, to receive dividends, and to participate in the assets of the association
upon liquidation, in proportion to the fractional interest. The holder of script or warrants is not entitled to any of these rights
unless the script or warrants explicitly provide for such rights. The script or warrants may be subject to such additional conditions
as: (1) that the script or warrants will become void if not exchanged for full shares before a specified date; and (2) that the
shares for which the script or warrants are exchangeable may be sold at the option of the association and the proceeds paid to
scriptholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The association, at any time and from time
to time, may authorize and issue debt obligations, whether or not subordinated, without the approval of the shareholders. Obligations
classified as debt, whether or not subordinated, which may be issued by the association without the approval of shareholders, do
not carry voting rights on any issue, including an increase or decrease in the aggregate number of the securities, or the exchange
or reclassification of all or part of securities into securities of another class or series.</P>

<P STYLE="font: 10pt Courier; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SIXTH.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
board of directors shall appoint one of its members president of this association, and one of its members chairperson of the board
and shall have the power to appoint one or more vice presidents, a secretary who shall keep minutes of the directors' and shareholders'
meetings and be responsible for authenticating the records of the association, and such other officers and employees as may be
required to transact the business of this association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A duly appointed officer may appoint one
or more officers or assistant officers if authorized by the board of directors in accordance with the bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The board of directors shall have the power
to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD>Define the duties of the officers, employees, and agents of the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD>Delegate the performance of its duties, but not the responsibility for its duties, to the officers, employees, and agents of
the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3)</TD><TD>Fix the compensation and enter into employment contracts with its officers and employees upon reasonable terms and conditions
consistent with applicable law.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4)</TD><TD>Dismiss officers and employees.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5)</TD><TD>Require bonds from officers and employees and to fix the penalty thereof.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6)</TD><TD>Ratify written policies authorized by the association's management or committees of the board.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7)</TD><TD>Regulate the manner in which any increase or decrease of the capital of the association shall be made, provided that nothing
herein shall restrict the power of shareholders to increase or decrease the capital of the association in accordance with law,
and nothing shall raise or lower from two-thirds the percentage required for shareholder approval to increase or reduce the capital.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">8)</TD><TD>Manage and administer the business and affairs of the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">9)</TD><TD>Adopt initial bylaws, not inconsistent with law or the articles of association, for managing the business and regulating the
affairs of the association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">10)</TD><TD>Amend or repeal bylaws, except to the extent that the articles of association reserve this power in whole or in part to shareholders.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">11)</TD><TD>Make contracts.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">12)</TD><TD>Generally perform all acts that are legal for a board of directors to perform.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SEVENTH.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
board of directors shall have the power to change the location of the main office to any other place within the limits of Wilmington,
Delaware, without the approval of the shareholders, or with a vote of shareholders owning two-thirds of the stock of such association
for a relocation outside such limits and upon receipt of a certificate of approval from the Comptroller of the Currency, to any
other location within or outside the limits of Wilmington Delaware, but not more than 30 miles beyond such limits. The board of
directors shall have the power to establish or change the location of any branch or branches of the association to any other location
permitted under applicable law, without approval of shareholders, subject to approval by the Comptroller of the Currency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EIGHTH.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
corporate existence of this association shall continue until termination according to the laws of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NINTH.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
board of directors of this association, or any one or more shareholders owning, in the aggregate, not less than 50 percent of the
stock of this association, may call a special meeting of shareholders at any time. Unless otherwise provided by the bylaws or the
laws of the United States, a notice of the time, place, and purpose of every annual and special meeting of the shareholders shall
be given at least 10 days prior to the meeting by first-class mail, unless the OCC determines that an emergency circumstance exists.
If the association is a wholly-owned subsidiary, the sole shareholder may waive notice of the shareholders&rsquo; meeting. Unless
otherwise provided by the bylaws or these articles, any action requiring approval of shareholders must be effected at a duly called
annual or special meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TENTH.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of this Article Tenth, the term &ldquo;institution-affiliated party&rdquo; shall mean any institution-affiliated party
of the association as such term is defined in 12 U.S.C. 1813(u).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any institution-affiliated party (or his
or her heirs, executors or administrators) may be indemnified or reimbursed by the association for reasonable expenses actually
incurred in connection with any threatened, pending or completed actions or proceedings and appeals therein, whether civil, criminal,
governmental, administrative or investigative, in accordance with and to the fullest extent permitted by law, as such law now or
hereafter exists; provided, however, that when an administrative proceeding or action instituted by a federal banking agency results
in a final order or settlement pursuant to which such person: (i) is assessed a civil money penalty, (ii) is removed from office
or prohibited from participating in the conduct of the affairs of the association, or (iii) is required to cease and desist from
or to take any affirmative action described in 12 U.S.C. 1818(b) with respect to the association, then the association shall require
the repayment of all legal fees and expenses advanced pursuant to the next succeeding paragraph and may not indemnify such institution-affiliated
parties (or their heirs, executors or administrators) for expenses, including expenses for legal fees, penalties or other payments
incurred. The association shall provide indemnification in connection with an action or proceeding (or part thereof) initiated
by an institution-affiliated party (or by his or her heirs, executors or administrators) only if such action or proceeding (or
part thereof) was authorized by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Expenses incurred by an institution-affiliated
party (or by his or her heirs, executors or administrators) in connection with any action or proceeding under 12 U.S.C. 164 or
1818 may be paid by the association in advance of the final disposition of such action or proceeding upon (a) a determination by
the board of directors acting by a quorum consisting of directors who are not parties to such action or proceeding that the institution-affiliated
party (or his or her heirs, executors or administrators) has a reasonable basis for prevailing on the merits, (b) a determination
that the indemnified individual (or his or her heirs, executors or administrators) will have the financial capacity to reimburse
the bank in the event he or she does not prevail, (c) a determination that the payment of expenses and fees by the association
will not adversely affect the safety and soundness of the association, and (d) receipt of an undertaking by or on behalf of such
institution-affiliated party (or by his or her heirs, executors or administrators) to repay such advancement in the event of a
final order or settlement pursuant to which such person: (i) is assessed a civil money penalty, (ii) is removed from office or
prohibited from participating in the conduct of the affairs of the association, or (iii) is required to cease and desist from or
to take any affirmative action described in 12 U.S.C. 1818(b) with respect to the association. In all other instances, expenses
incurred by an institution-affiliated party (or by his or her heirs, executors or administrators) in connection with any action
or proceeding as to which indemnification may be given under these articles of association may be paid by the association in advance
of the final disposition of such action or proceeding upon (a) receipt of an undertaking by or on behalf of such institution-affiliated
party (or by or on behalf of his or her heirs, executors or administrators) to repay such advancement in the event that such institution-affiliated
party (or his or her heirs, executors or administrators) is ultimately found not to be entitled to indemnification as authorized
by these articles of association and (b) approval by the board of directors acting by a quorum consisting of directors who are
not parties to such action or proceeding or, if such a quorum is not obtainable, then approval by stockholders. To the extent permitted
by law, the board of directors or, if applicable, the stockholders, shall not be required to find that the institution-affiliated
party has met the applicable standard of conduct provided by law for indemnification in connection with such action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that a majority of the members
of the board of directors are named as respondents in an administrative proceeding or civil action and request indemnification,
the remaining members of the board may authorize independent legal counsel to review the indemnification request and provide the
remaining members of the board with a written opinion of counsel as to whether the conditions delineated in the first four paragraphs
of this Article Tenth have been met. If independent legal counsel opines that said conditions have been met, the remaining members
of the board of directors may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that all of the members of
the board of directors are named as respondents in an administrative proceeding or civil action and request indemnification, the
board shall authorize independent legal counsel to review the indemnification request and provide the board with a written opinion
of counsel as to whether the conditions delineated in the first four paragraphs of this Article Tenth have been met. If legal counsel
opines that said conditions have been met, the board of directors may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To the extent permitted under applicable
law, the rights of indemnification and to the advancement of expenses provided in these articles of association (a) shall be available
with respect to events occurring prior to the adoption of these articles of association, (b) shall continue to exist after any
restrictive amendment of these articles of association with respect to events occurring prior to such amendment, (c) may be interpreted
on the basis of applicable law in effect at the time of the occurrence of the event or events giving rise to the action or proceeding,
or on the basis of applicable law in effect at the time such rights are claimed, and (d) are in the nature of contract rights which
may be enforced in any court of competent jurisdiction as if the association and the institution-affiliated party (or his or her
heirs, executors or administrators) for whom such rights are sought were parties to a separate written agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The rights of indemnification and to the
advancement of expenses provided in these articles of association shall not, to the extent permitted under applicable law, be deemed
exclusive of any other rights to which any such institution affiliated party (or his or her heirs, executors or administrators)
may now or hereafter be otherwise entitled whether contained in these articles of association, the bylaws, a resolution of stockholders,
a resolution of the board of directors, or an agreement providing such indemnification, the creation of such other rights being
hereby expressly authorized. Without limiting the generality of the foregoing, the rights of indemnification and to the advancement
of expenses provided in these articles of association shall not be deemed exclusive of any rights, pursuant to statute or otherwise,
of any such institution-affiliated party (or of his or her heirs, executors or administrators) in any such action or proceeding
to have assessed or allowed in his or her favor, against the association or otherwise, his or her costs and expenses incurred therein
or in connection therewith or any part thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this Article Tenth or any part hereof
shall be held unenforceable in any respect by a court of competent jurisdiction, it shall be deemed modified to the minimum extent
necessary to make it enforceable, and the remainder of this Article Tenth shall remain fully enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The association may, upon affirmative vote
of a majority of its board of directors, purchase insurance to indemnify its institution-affiliated parties to the extent that
such indemnification is allowed in these articles of association; provided, however, that no such insurance shall include coverage
to pay or reimburse any institution-affiliated party for the cost of any judgment or civil money penalty assessed against such
person in an administrative proceeding or civil action commenced by any federal banking agency. Such insurance may, but need not,
be for the benefit of all institution-affiliated parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ELEVENTH.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
articles of association may be amended at any regular or special meeting of the shareholders by the affirmative vote of the holders
of a majority of the stock of this association, unless the vote of the holders of a greater amount of stock is required by law,
and in that case by the vote of the holders of such greater amount. The association's board of directors may propose one or more
amendments to the articles of association for submission to the shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT 4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BY-LAWS OF WILMINGTON TRUST, NATIONAL
ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED AND RESTATED BYLAWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Meetings of Shareholders</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 1. Annual Meeting</B>. The annual
meeting of the shareholders to elect directors and transact whatever other business may properly come before the meeting shall
be held at the main office of the association, Rodney Square North, 1100 Market Street, City of Wilmington, State of Delaware,
at 1:00 o'clock p.m. on the first Tuesday in March of each year, or at such other place and time as the board of directors may
designate, or if that date falls on a legal holiday in Delaware, on the next following banking day. Notice of the meeting shall
be mailed by first class mail, postage prepaid, at least 10 days and no more than 60 days prior to the date thereof, addressed
to each shareholder at his/her address appearing on the books of the association. If, for any cause, an election of directors is
not made on that date, or in the event of a legal holiday, on the next following banking day, an election may be held on any subsequent
day within 60 days of the date fixed, to be designated by the board of directors, or, if the directors fail to fix the date, by
shareholders representing two-thirds of the shares. In these circumstances, at least 10 days&rsquo; notice must be given by first
class mail to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 2. Special Meetings</B>. Except
as otherwise specifically provided by statute, special meetings of the shareholders may be called for any purpose at any time by
the board of directors or by any one or more shareholders owning, in the aggregate, not less than fifty percent of the stock of
the association. Every such special meeting, unless otherwise provided by law, shall be called by mailing, postage prepaid, not
less than 10 days nor more than 60 days prior to the date fixed for the meeting, to each shareholder at the address appearing on
the books of the association a notice stating the purpose of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The board of directors may fix a record
date for determining shareholders entitled to notice and to vote at any meeting, in reasonable proximity to the date of giving
notice to the shareholders of such meeting. The record date for determining shareholders entitled to demand a special meeting is
the date the first shareholder signs a demand for the meeting describing the purpose or purposes for which it is to be held.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A special meeting may be called by shareholders
or the board of directors to amend the articles of association or bylaws, whether or not such bylaws may be amended by the board
of directors in the absence of shareholder approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If an annual or special shareholders' meeting
is adjourned to a different date, time, or place, notice need not be given of the new date, time or place, if the new date, time
or place is announced at the meeting before adjournment, unless any additional items of business are to be considered, or the association
becomes aware of an intervening event materially affecting any matter to be voted on more than 10 days prior to the date to which
the meeting is adjourned. If a new record date for the adjourned meeting is fixed, however, notice of the adjourned meeting must
be given to persons who are shareholders as of the new record date. If, however, the meeting to elect the directors is adjourned
before the election takes place, at least ten days&rsquo; notice of the new election must be given to the shareholders by first-class
mail.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Courier; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 3. Nominations of Directors</B>.
Nominations for election to the board of directors may be made by the board of directors or by any stockholder of any outstanding
class of capital stock of the association entitled to vote for the election of directors. Nominations, other than those made by
or on behalf of the existing management of the association, shall be made in writing and shall be delivered or mailed to the president
of the association and the Comptroller of the Currency, Washington, D.C., not less than 14 days nor more than 50 days prior to
any meeting of shareholders called for the election of directors; <I>provided, however,</I> that if less than 21 days' notice of
the meeting is given to shareholders, such nomination shall be mailed or delivered to the president of the association not later
than the close of business on the seventh day following the day on which the notice of meeting was mailed. Such notification shall
contain the following information to the extent known to the notifying shareholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>The name and address of each proposed nominee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>The principal occupation of each proposed nominee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>The total number of shares of capital stock of the association that will be voted for each proposed nominee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD>The name and residence of the notifying shareholder; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD>The number of shares of capital stock of the association owned by the notifying shareholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Nominations not made in accordance herewith
may, in his/her discretion, be disregarded by the chairperson of the meeting, and upon his/her instructions, the vote tellers may
disregard all votes cast for each such nominee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4. Proxies</B>. Shareholders
may vote at any meeting of the shareholders by proxies duly authorized in writing, but no officer or employee of this association
shall act as proxy. Proxies shall be valid only for one meeting, to be specified therein, and any adjournments of such meeting.
Proxies shall be dated and filed with the records of the meeting. Proxies with facsimile signatures may be used and unexecuted
proxies may be counted upon receipt of a written confirmation from the shareholder. Proxies meeting the above requirements submitted
at any time during a meeting shall be accepted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5. Quorum</B>. A majority of
the outstanding capital stock, represented in person or by proxy, shall constitute a quorum at any meeting of shareholders, unless
otherwise provided by law, or by the shareholders or directors pursuant to Article IX, Section 2, but less than a quorum may adjourn
any meeting, from time to time, and the meeting may be held, as adjourned, without further notice. A majority of the votes cast
shall decide every question or matter submitted to the shareholders at any meeting, unless otherwise provided by law or by the
articles of association, or by the shareholders or directors pursuant to Article IX, Section 2. If a meeting for the election of
directors is not held on the fixed date, at least 10 days&rsquo; notice must be given by first-class mail to the shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Directors</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 1. Board of Directors</B>. The
board of directors shall have the power to manage and administer the business and affairs of the association. Except as expressly
limited by law, all corporate powers of the association shall be vested in and may be exercised by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 2. Number</B>. The board of directors
shall consist of not less than five nor more than twenty-five members, unless the OCC has exempted the bank from the 25-member
limit. The exact number within such minimum and maximum limits is to be fixed and determined from time to time by resolution of
a majority of the full board of directors or by resolution of a majority of the shareholders at any meeting thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 3. Organization Meeting</B>.
The secretary or treasurer, upon receiving the certificate of the judges of the result of any election, shall notify the directors-elect
of their election and of the time at which they are required to meet at the main office of the association, or at such other place
in the cities of Wilmington, Delaware or Buffalo, New York,<B> </B>to organize the new board of directors and elect and appoint
officers of the association for the succeeding year. Such meeting shall be held on the day of the election or as soon thereafter
as practicable, and, in any event, within 30 days thereof. If, at the time fixed for such meeting, there shall not be a quorum,
the directors present may adjourn the meeting, from time to time, until a quorum is obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4. Regular Meetings</B>. The
Board of Directors may, at any time and from time to time, by resolution designate the place, date and hour for the holding of
a regular meeting, but in the absence of any such designation,<B> </B>regular meetings of the board of directors shall be held,
without notice, on the first Tuesday of each March, June and September, and on the second Tuesday of each December at the main
office or other such place as the board of directors may designate. When any regular meeting of the board of directors falls upon
a holiday, the meeting shall be held on the next banking business day unless the board of directors shall designate another day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5. Special Meetings</B>. Special
meetings of the board of directors may be called by the Chairman of the Board of the association, or at the request of two or more
directors. Each member of the board of directors shall be given notice by telegram, first class mail, or in person stating the
time and place of each special meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6. Quorum</B>. A majority of
the entire board then in office shall constitute a quorum at any meeting, except when otherwise provided by law or these bylaws,
but a lesser number may adjourn any meeting, from time to time, and the meeting may be held, as adjourned, without further notice.
If the number of directors present at the meeting is reduced below the number that would constitute a quorum, no business may be
transacted, except selecting directors to fill vacancies in conformance with Article II, Section 7. If a quorum is present, the
board of directors may take action through the vote of a majority of the directors who are in attendance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 7.</B> <B>Meetings by Conference
Telephone.</B> Any one or more members of the board of directors or any committee thereof may participate in a meeting of such
board or committees by means of a conference telephone or similar communications equipment allowing all persons participating in
the meeting to hear each other at the same time. Participation in a meeting by such means shall constitute presence in person at
such meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 8. Procedures</B>. The order
of business and all other matters of procedure at every meeting of the board of directors may be determined by the person presiding
at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 9. Removal of Directors</B>.
Any director may be removed for cause, at any meeting of stockholders notice of which shall have referred to the proposed action,
by vote of the stockholders. Any director may be removed without cause, at any meeting of stockholders notice of which shall have
referred to the proposed action, by the vote of the holders of a majority of the shares of the Corporation entitled to vote. Any
director may be removed for cause, at any meeting of the directors notice of which shall have referred to the proposed action,
by vote of a majority of the entire Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 10. Vacancies</B>. When any vacancy
occurs among the directors, a majority of the remaining members of the board of directors, according to the laws of the United
States, may appoint a director to fill such vacancy at any regular meeting of the board of directors, or at a special meeting called
for that purpose at which a quorum is present, or if the directors remaining in office constitute fewer than a quorum of the board
of directors, by the affirmative vote of a majority of all the directors remaining in office, or by shareholders at a special meeting
called for that purpose in conformance with Section 2 of Article I. At any such shareholder meeting, each shareholder entitled
to vote shall have the right to multiply the number of votes he or she is entitled to cast by the number of vacancies being filled
and cast the product for a single candidate or distribute the product among two or more candidates. A vacancy that will occur at
a specific later date (by reason of a resignation effective at a later date) may be filled before the vacancy occurs but the new
director may not take office until the vacancy occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE III</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Committees of the Board</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The board of directors has power over and
is solely responsible for the management, supervision, and administration of the association. The board of directors may delegate
its power, but none of its responsibilities, to such persons or committees as the board may determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The board of directors must formally ratify
written policies authorized by committees of the board of directors before such policies become effective. Each committee must
have one or more member(s), and who may be an officer of the association or an officer or director of any affiliate of the association,
who serve at the pleasure of the board of directors. Provisions of the articles of association and these bylaws governing place
of meetings, notice of meeting, quorum and voting requirements of the board of directors, apply to committees and their members
as well. The creation of a committee and appointment of members to it must be approved by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 1. Loan Committee</B>. There
shall be a loan committee composed of not less than 2 directors, appointed by the board of directors annually or more often. The
loan committee, on behalf of the bank, shall have power to discount and purchase bills, notes and other evidences of debt, to buy
and sell bills of exchange, to examine and approve loans and discounts, to exercise authority regarding loans and discounts, and
to exercise, when the board of directors is not in session, all other powers of the board of directors that may lawfully be delegated.
The loan committee shall keep minutes of its meetings, and such minutes shall be submitted at the next regular meeting of the board
of directors at which a quorum is present, and any action taken by the board of directors with respect thereto shall be entered
in the minutes of the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 2. Investment Committee</B>.
There shall be an investment committee composed of not less than 2 directors, appointed by the board of directors annually or more
often. The investment committee, on behalf of the bank, shall have the power to ensure adherence to the investment policy, to recommend
amendments thereto, to purchase and sell securities, to exercise authority regarding investments and to exercise, when the board
of directors is not in session, all other powers of the board of directors regarding investment securities that may be lawfully
delegated. The investment committee shall keep minutes of its meetings, and such minutes shall be submitted at the next regular
meeting of the board of directors at which a quorum is present, and any action taken by the board of directors with respect thereto
shall be entered in the minutes of the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 3. Examining Committee</B>. There
shall be an examining committee composed of not less than 2 directors, exclusive of any active officers, appointed by the board
of directors annually or more often. The duty of that committee shall be to examine at least once during each calendar year and
within 15 months of the last examination the affairs of the association or cause suitable examinations to be made by auditors responsible
only to the board of directors and to report the result of such examination in writing to the board of directors at the next regular
meeting thereafter. Such report shall state whether the association is in a sound condition, and whether adequate internal controls
and procedures are being maintained and shall recommend to the board of directors such changes in the manner of conducting the
affairs of the association as shall be deemed advisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the provisions of the first
paragraph of this section 3, the responsibility and authority of the Examining Committee may, if authorized by law, be given over
to a duly constituted audit committee of the association's parent corporation by a resolution duly adopted by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4. Trust Audit Committee.</B>
There shall be a trust audit committee in conformance with Section 1 of Article V.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5. Other Committees</B>. The
board of directors may appoint, from time to time, from its own members, compensation, special litigation and other committees
of one or more persons, for such purposes and with such powers as the board of directors may determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">However, a committee may not:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>Authorize distributions of assets or dividends;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>Approve action required to be approved by shareholders;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>Fill vacancies on the board of directors or any of its committees;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD>Amend articles of association;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD>Adopt, amend or repeal bylaws; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(6)</TD><TD>Authorize or approve issuance or sale or contract for sale of shares, or determine the designation and relative rights, preferences
and limitations of a class or series of shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6. Committee Members' Fees</B>.
Committee members may receive a fee for their services as committee members and traveling and other out-of-pocket expenses incurred
in attending any meeting of a committee of which they are a member. The fee may be a fixed sum to be paid for attending each meeting
or a fixed sum to be paid quarterly, or semiannually, irrespective of the number of meetings attended or not attended. The amount
of the fee and the basis on which it shall be paid shall be determined by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE IV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Officers and Employees</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 1. Chairperson of the Board</B>.
The board of directors shall appoint one of its members to be the chairperson of the board to serve at its pleasure. Such person
shall preside at all meetings of the board of directors. The chairperson of the board shall supervise the carrying out of the policies
adopted or approved by the board of directors; shall have general executive powers, as well as the specific powers conferred by
these bylaws; and shall also have and may exercise such further powers and duties as from time to time may be conferred upon or
assigned by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 2. President</B>. The board of
directors shall appoint one of its members to be the president of the association. In the absence of the chairperson, the president
shall preside at any meeting of the board of directors. The president shall have general executive powers and shall have and may
exercise any and all other powers and duties pertaining by law, regulation, or practice to the office of president, or imposed
by these bylaws. The president shall also have and may exercise such further powers and duties as from time to time may be conferred
or assigned by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 3. Vice President</B>. The board
of directors may appoint one or more vice presidents. Each vice president shall have such powers and duties as may be assigned
by the board of directors. One vice president shall be designated by the board of directors, in the absence of the president, to
perform all the duties of the president.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4. Secretary</B>. The board of
directors shall appoint a secretary, treasurer, or other designated officer who shall be secretary of the board of directors and
of the association and who shall keep accurate minutes of all meetings. The secretary shall attend to the giving of all notices
required by these bylaws; shall be custodian of the corporate seal, records, documents and papers of the association; shall provide
for the keeping of proper records of all transactions of the association; shall have and may exercise any and all other powers
and duties pertaining by law, regulation or practice to the office of treasurer, or imposed by these bylaws; and shall also perform
such other duties as may be assigned from time to time, by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5. Other Officers</B>. The board
of directors may appoint one or more assistant vice presidents, one or more trust officers, one or more assistant secretaries,
one or more assistant treasurers, one or more managers and assistant managers of branches and such other officers and attorneys
in fact as from time to time may appear to the board of directors to be required or desirable to transact the business of the association.
Such officers shall respectively exercise such powers and perform such duties as pertain to their several offices, or as may be
conferred upon or assigned to them by the board of directors, the chairperson of the board, or the president. The board of directors
may authorize an officer to appoint one or more officers or assistant officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 6. Tenure of Office</B>. The
president and all other officers shall hold office for the current year for which the board of directors was elected, unless they
shall resign, become disqualified, or be removed; and any vacancy occurring in the office of president shall be filled promptly
by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 7. Resignation</B>. An officer
may resign at any time by delivering notice to the association. A resignation is effective when the notice is given unless the
notice specifies a later effective date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE V</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Fiduciary Activities</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 1. Trust Audit Committee.</B>
There shall be a Trust Audit Committee composed of not less than 2 directors, appointed by the board of directors, which shall,
at least once during each calendar year make suitable audits of the association&rsquo;s fiduciary activities or cause suitable
audits to be made by auditors responsible only to the board, and at such time shall ascertain whether fiduciary powers have been
administered according to law, Part 9 of the Regulations of the Comptroller of the Currency, and sound fiduciary principles. Such
committee: (1) must not include any officers of the bank or an affiliate who participate significantly in the administration of
the bank&rsquo;s fiduciary activities; and (2) must consist of a majority of members who are not also members of any committee
to which the board of directors has delegated power to manage and control the fiduciary activities of the bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the provisions of the first
paragraph of this section 1, the responsibility and authority of the Trust Audit Committee may, if authorized by law, be given
over to a duly constituted audit committee of the association&rsquo;s parent corporation by a resolution duly adopted by the board
of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 2. Fiduciary Files.</B> There
shall be maintained by the association all fiduciary records necessary to assure that its fiduciary responsibilities have been
properly undertaken and discharged.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 3. Trust Investments.</B> Funds
held in a fiduciary capacity shall be invested according to the instrument establishing the fiduciary relationship and applicable
law. Where such instrument does not specify the character and class of investments to be made, but does vest in the association
investment discretion, funds held pursuant to such instrument shall be invested in investments in which corporate fiduciaries may
invest under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE VI</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Stock and Stock Certificates</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 1. Transfers</B>. Shares of stock
shall be transferable on the books of the association, and a transfer book shall be kept in which all transfers of stock shall
be recorded. Every person becoming a shareholder by such transfer shall in proportion to such shareholder's shares, succeed to
all rights of the prior holder of such shares. The board of directors may impose conditions upon the transfer of the stock reasonably
calculated to simplify the work of the association with respect to stock transfers, voting at shareholder meetings and related
matters and to protect it against fraudulent transfers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 2. Stock Certificates</B>. Certificates
of stock shall bear the signature of the president (which may be engraved, printed or impressed) and shall be signed manually or
by facsimile process by the secretary, assistant secretary, treasurer, assistant treasurer, or any other officer appointed by the
board of directors for that purpose, to be known as an authorized officer, and the seal of the association shall be engraved thereon.
Each certificate shall recite on its face that the stock represented thereby is transferable only upon the books of the association
properly endorsed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The board of directors may adopt or use
procedures for replacing lost, stolen, or destroyed stock certificates as permitted by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The association may establish a procedure
through which the beneficial owner of shares that are registered in the name of a nominee may be recognized by the association
as the shareholder. The procedure may set forth:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>The types of nominees to which it applies;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>The rights or privileges that the association recognizes in a beneficial owner;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>How the nominee may request the association to recognize the beneficial owner as the shareholder;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD>The information that must be provided when the procedure is selected;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD>The period over which the association will continue to recognize the beneficial owner as the shareholder;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(6)</TD><TD>Other aspects of the rights and duties created.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE VII</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Corporate Seal</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 1. Seal</B>. The seal of the
association shall be in such form as may be determined from time to time by the board of directors. The president, the treasurer,
the secretary or any assistant treasurer or assistant secretary, or other officer thereunto designated by the board of directors
shall have authority to affix the corporate seal to any document requiring such seal and to attest the same. The seal on any corporate
obligation for the payment of money may be facsimile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE VIII</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Miscellaneous Provisions</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 1. Fiscal Year</B>. The fiscal
year of the association shall be the calendar year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 2. Execution of Instruments</B>.
All agreements, indentures, mortgages, deeds, conveyances, transfers, certificates, declarations, receipts, discharges, releases,
satisfactions, settlements, petitions, schedules, accounts, affidavits, bonds, undertakings, proxies and other instruments or documents
may be signed, executed, acknowledged, verified, delivered or accepted on behalf of the association by the chairperson of the board,
or the president, or any vice president, or the secretary, or the treasurer, or, if in connection with the exercise of fiduciary
powers of the association, by any of those offices or by any trust officer. Any such instruments may also be executed, acknowledged,
verified, delivered or accepted on behalf of the association in such other manner and by such other officers as the board of directors
may from time to time direct. The provisions of this section 2 are supplementary to any other provision of these bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 3. Records</B>. The articles
of association, the bylaws and the proceedings of all meetings of the shareholders, the board of directors, and standing committees
of the board of directors shall be recorded in appropriate minute books provided for that purpose. The minutes of each meeting
shall be signed by the secretary, treasurer or other officer appointed to act as secretary of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 4. Corporate Governance Procedures.</B>
To the extent not inconsistent with federal banking statutes and regulations, or safe and sound banking practices, the association
may follow the Delaware General Corporation Law, Del. Code Ann. tit. 8 (1991, as amended 1994, and as amended thereafter) with
respect to matters of corporate governance procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 5. Indemnification. </B>For purposes
of this Section 5 of Article VIII, the term &ldquo;institution-affiliated party&rdquo; shall mean any institution-affiliated party
of the association as such term is defined in 12 U.S.C. 1813(u).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any institution-affiliated party (or his
or her heirs, executors or administrators) may be indemnified or reimbursed by the association for reasonable expenses actually
incurred in connection with any threatened, pending or completed actions or proceedings and appeals therein, whether civil, criminal,
governmental, administrative or investigative, in accordance with and to the fullest extent permitted by law, as such law now or
hereafter exists; provided, however, that when an administrative proceeding or action instituted by a federal banking agency results
in a final order or settlement pursuant to which such person: (i) is assessed a civil money penalty, (ii) is removed from office
or prohibited from participating in the conduct of the affairs of the association, or (iii) is required to cease and desist from
or to take any affirmative action described in 12 U.S.C. 1818(b) with respect to the association, then the association shall require
the repayment of all legal fees and expenses advanced pursuant to the next succeeding paragraph and may not indemnify such institution-affiliated
parties (or their heirs, executors or administrators) for expenses, including expenses for legal fees, penalties or other payments
incurred. The association shall provide indemnification in connection with an action or proceeding (or part thereof) initiated
by an institution-affiliated party (or by his or her heirs, executors or administrators) only if such action or proceeding (or
part thereof) was authorized by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Expenses incurred by an institution-affiliated
party (or by his or her heirs, executors or administrators) in connection with any action or proceeding under 12 U.S.C. 164 or
1818 may be paid by the association in advance of the final disposition of such action or proceeding upon (a) a determination by
the board of directors acting by a quorum consisting of directors who are not parties to such action or proceeding that the institution-affiliated
party (or his or her heirs, executors or administrators) has a reasonable basis for prevailing on the merits, (b) a determination
that the indemnified individual (or his or her heirs, executors or administrators) will have the financial capacity to reimburse
the bank in the event he or she does not prevail, (c) a determination that the payment of expenses and fees by the association
will not adversely affect the safety and soundness of the association, and (d) receipt of an undertaking by or on behalf of such
institution-affiliated party (or by his or her heirs, executors or administrators) to repay such advancement in the event of a
final order or settlement pursuant to which such person: (i) is assessed a civil money penalty, (ii) is removed from office or
prohibited from participating in the conduct of the affairs of the association, or (iii) is required to cease and desist from or
to take any affirmative action described in 12 U.S.C. 1818(b) with respect to the association. In all other instances, expenses
incurred by an institution-affiliated party (or by his or her heirs, executors or administrators) in connection with any action
or proceeding as to which indemnification may be given under these articles of association may be paid by the association in advance
of the final disposition of such action or proceeding upon (a) receipt of an undertaking by or on behalf of such institution-affiliated
party (or by or on behalf of his or her heirs, executors or administrators) to repay such advancement in the event that such institution-affiliated
party (or his or her heirs, executors or administrators) is ultimately found not to be entitled to indemnification as authorized
by these bylaws and (b) approval by the board of directors acting by a quorum consisting of directors who are not parties to such
action or proceeding or, if such a quorum is not obtainable, then approval by stockholders. To the extent permitted by law, the
board of directors or, if applicable, the stockholders, shall not be required to find that the institution-affiliated party has
met the applicable standard of conduct provided by law for indemnification in connection with such action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that a majority of the members
of the board of directors are named as respondents in an administrative proceeding or civil action and request indemnification,
the remaining members of the board may authorize independent legal counsel to review the indemnification request and provide the
remaining members of the board with a written opinion of counsel as to whether the conditions delineated in the first four paragraphs
of this Section 5 of Article VIII have been met. If independent legal counsel opines that said conditions have been met, the remaining
members of the board of directors may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that all of the members of
the board of directors are named as respondents in an administrative proceeding or civil action and request indemnification, the
board shall authorize independent legal counsel to review the indemnification request and provide the board with a written opinion
of counsel as to whether the conditions delineated in the first four paragraphs of this Section 5 of Article VIII have been met.
If legal counsel opines that said conditions have been met, the board of directors may rely on such opinion in authorizing the
requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To the extent permitted under applicable
law, the rights of indemnification and to the advancement of expenses provided in these articles of association (a) shall be available
with respect to events occurring prior to the adoption of these bylaws, (b) shall continue to exist after any restrictive amendment
of these bylaws with respect to events occurring prior to such amendment, (c) may be interpreted on the basis of applicable law
in effect at the time of the occurrence of the event or events giving rise to the action or proceeding, or on the basis of applicable
law in effect at the time such rights are claimed, and (d) are in the nature of contract rights which may be enforced in any court
of competent jurisdiction as if the association and the institution-affiliated party (or his or her heirs, executors or administrators)
for whom such rights are sought were parties to a separate written agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The rights of indemnification and to the
advancement of expenses provided in these bylaws shall not, to the extent permitted under applicable law, be deemed exclusive of
any other rights to which any such institution-affiliated party (or his or her heirs, executors or administrators) may now or hereafter
be otherwise entitled whether contained in the association&rsquo;s articles of association, these bylaws, a resolution of stockholders,
a resolution of the board of directors, or an agreement providing such indemnification, the creation of such other rights being
hereby expressly authorized. Without limiting the generality of the foregoing, the rights of indemnification and to the advancement
of expenses provided in these bylaws shall not be deemed exclusive of any rights, pursuant to statute or otherwise, of any such
institution-affiliated party (or of his or her heirs, executors or administrators) in any such action or proceeding to have assessed
or allowed in his or her favor, against the association or otherwise, his or her costs and expenses incurred therein or in connection
therewith or any part thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this Section 5 of Article VIII or any
part hereof shall be held unenforceable in any respect by a court of competent jurisdiction, it shall be deemed modified to the
minimum extent necessary to make it enforceable, and the remainder of this Section 5 of Article VIII shall remain fully enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The association may, upon affirmative vote
of a majority of its board of directors, purchase insurance to indemnify its institution-affiliated parties to the extent that
such indemnification is allowed in these bylaws; provided, however, that no such insurance shall include coverage for a final order
assessing civil money penalties against such persons by a bank regulatory agency. Such insurance may, but need not, be for the
benefit of all institution-affiliated parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE IX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Inspection and Amendments</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 1. Inspection</B>. A copy of
the bylaws of the association, with all amendments, shall at all times be kept in a convenient place at the main office of the
association, and shall be open for inspection to all shareholders during banking hours.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Section 2. Amendments</B>. The bylaws
of the association may be amended, altered or repealed, at any regular meeting of the board of directors, by a vote of a majority
of the total number of the directors except as provided below, and provided that the following language accompany any such change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT 6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&#9;<B>Section 321(b) Consent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to Section 321(b) of the Trust Indenture Act of 1939,
as amended, Wilmington Trust, National Association hereby consents that reports of examinations by Federal, State, Territorial
or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon requests therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>WILMINGTON TRUST, </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>NATIONAL ASSOCIATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dated:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line; width: 15%">September
    25, 2013</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line; width: 30%">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:<U> </U></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line; width: 45%">/s/ Mary C. St. Amand</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:</FONT></TD>
    <TD STYLE="layout-grid-mode: line">Mary C. St. Amand</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; layout-grid-mode: line"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="layout-grid-mode: line">Vice President</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: -4in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT 7</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF CONDITION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">As of the close of business on June 30,
2013:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="color: black"></TD><TD NOWRAP STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: right">Thousands of Dollars</TD><TD NOWRAP STYLE="color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black">ASSETS</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; font-weight: bold">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 85%; color: black; text-align: left">Cash and balances due from depository institutions:</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; color: black; text-align: right">861,797</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black">Securities:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">4,845</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Federal funds sold and securities purchased under agreement to resell:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">0</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left">Loans and leases held for sale:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">0</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Loans and leases net of unearned income, allowance:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">536,692</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left">Premises and fixed assets:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">11,954</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Other real estate owned:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">32</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left">Investments in unconsolidated subsidiaries and associated companies:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">0</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Direct and indirect investments in real estate ventures:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">0</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left">Intangible assets:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">5,874</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Other assets:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">61,387</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left">Total Assets:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">1,482,581</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Courier; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="color: black; font-weight: bold"></TD><TD NOWRAP STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: right">Thousands of Dollars</TD><TD NOWRAP STYLE="color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; font-weight: bold">LIABILITIES</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; font-weight: bold">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 85%; color: black">Deposits</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; color: black; text-align: right">875,593</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left">Federal funds purchased and securities sold under agreements to repurchase</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">115,500</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Other borrowed money:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">0</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left">Other Liabilities:</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">75,755</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; font-weight: bold; text-align: left">Total Liabilities</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">1,066,848</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Courier; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: right">Thousands of Dollars</TD><TD NOWRAP STYLE="color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; font-weight: bold; text-align: left">EQUITY CAPITAL</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 85%; color: black; text-align: left">Common Stock</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; color: black; text-align: right">1,000</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black">Surplus</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">383,507</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Retained Earnings</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">31,968</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left">Accumulated other comprehensive income</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(742</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Total Equity Capital</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">415,733</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; font-weight: bold; text-align: left">Total Liabilities and Equity Capital</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">1,482,581</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 25, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VIA ELECTRONIC TRANSMISSION AND OVERNIGHT COURIER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Justin Dobbie</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Legal Branch Chief</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 8%"><b>Re: </b></td>
    <TD STYLE="width: 92%"><b>Icahn Enterprises L.P. </b></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><b>Registration Statement on Form S-3 </b></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><b>Filed May 3, 2013 </b></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><b>File No. 333-188360</b></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Dobbie:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Reference is made to the comments of the
Staff of the Securities and Exchange Commission (the &ldquo;Staff&rdquo;) in your letter dated May 23, 2013 (the &ldquo;Comment
Letter&rdquo;) with respect to the registration statement on Form S-3 (File No. 333-188360) (the &ldquo;Registration Statement&rdquo;)
of Icahn Enterprises L.P. (&ldquo;Icahn Enterprises&rdquo;) and Icahn Enterprises Finance Corp. (&ldquo;Finance Corp.&rdquo; and
together with Icahn Enterprises, the &ldquo;Company&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are writing to respond to the comments
contained in the Comment Letter. For your convenience, the Staff's comments have been retyped below in boldface type, and the Company's
responses are provided immediately after each comment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>General </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>1. We note there are outstanding comments on your Annual
Report on Form 10-K for the fiscal year ended December 31, 2012. Please note that all comments must be resolved before we act on
a request for acceleration regarding your Form S-3. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will not submit a request for
acceleration of effective until all comments related to Icahn Enterprises&rsquo; Annual Report on Form 10-K have been resolved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Registration Statement Cover Page </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>2. We note your disclosure in footnote 5 to the Calculation
of Registration Fee table that you are applying the filing fee of $44,640 associated with the unsold securities under your registration
statement on Form S-3 (No. 333-158705) against the total filing fee for this registration statement. In accordance with Rule 415(a)(6)
of the Securities Act of 1933, please revise to disclose the number of unsold securities covered by the earlier registration statement
that are being included in this registration statement. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Calculation of Registration Fee table
has been revised in Amendment No. 1 to the Registration Statement to address the Staff&rsquo;s comment and to reflect the recent
public equity offering conducted by Icahn Enterprises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Exhibit 5.1</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>3. Please revise paragraph (a) on page 2 of the opinion
to have counsel also opine that the depositary units, when sold, will entitle their holders to the rights specified in the depositary
agreement.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Proskauer Rose LLP&rsquo;s opinion has been
revised to address the Staff&rsquo;s comment and we have re-filed Exhibit 5.1 to the Registration Statement in Amendment No. 1
to the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with responding to the Comment
Letter, the Company acknowledges that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the Company is responsible for the adequacy and accuracy of the disclosure in the filing;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action
with respect to the filing;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the
federal securities laws of the United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Please contact me should you have any questions
or additional comments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Very truly yours,</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">/s/SungHwan Cho</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">SungHwan Cho</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Chief Financial Officer</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Icahn Enterprises G.P. Inc., the general partner of Icahn Enterprises L.P.</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 5%">cc:</td>
    <TD STYLE="width: 45%">Daniel A. Ninivaggi (Icahn Enterprises L.P.)</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>


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