<SEC-DOCUMENT>0000950142-22-000895.txt : 20220304
<SEC-HEADER>0000950142-22-000895.hdr.sgml : 20220304
<ACCEPTANCE-DATETIME>20220304143131
ACCESSION NUMBER:		0000950142-22-000895
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220304
FILED AS OF DATE:		20220304
DATE AS OF CHANGE:		20220304

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ero Copper Corp.
		CENTRAL INDEX KEY:			0001853860
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40459
		FILM NUMBER:		22713529

	BUSINESS ADDRESS:	
		STREET 1:		625 HOWE STREET, SUITE 1050
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2T6
		BUSINESS PHONE:		604-449-9236

	MAIL ADDRESS:	
		STREET 1:		625 HOWE STREET, SUITE 1050
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2T6
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>eh220231297_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 10pt 0 6pt; text-align: center">FORM 6-K</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center">Report of Foreign Private Issuer<BR>
Pursuant to Rule&nbsp;13a-16 or 15d-16<BR>
under the Securities Exchange Act of 1934</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center"><B>For the month of March   2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>Commission File Number 001-40459</B></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">ERO COPPER CORP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">(Translation of registrant's
name into English)</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center"><B>625 Howe Street, Suite&nbsp;1050<BR>
Vancouver, British Columbia V6C 2T6<BR>
Canada</B><BR>
(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><FONT STYLE="font-weight: normal">Form&nbsp;20-F&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F&nbsp;<FONT STYLE="font-family: Wingdings">&#254;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(1). _____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(7). _____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Signatures</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">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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>&nbsp;</TD>
    <TD COLSPAN="3"><B>ERO COPPER CORP.</B></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom">/s/ Deepk Hundal</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 30%">Deepk Hundal</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>SVP, General Counsel &amp; Corporate Secretary</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Date: March 4, 2022</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 0"><B>&nbsp;</B></P>

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

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

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


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center">Exhibit&nbsp;Index</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="white-space: nowrap; width: 15%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 1pt solid"><B>Exhibit Number</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 83%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 1pt solid"><B>Description of Document</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>99.1</TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><A HREF="eh220231297_ex9901.htm">Indenture dated as of February 2, 2022</A></p></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>99.2</TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="eh220231297_ex9902.htm">Seventh Amending Agreement dated as of January 21, 2022</A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

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

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>eh220231297_ex9901.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>

<HTML>
<HEAD>
<TITLE>Proof - Indenture.htm</TITLE>
</HEAD>
<BODY>
<DIV STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT 99.1</B></FONT></P>

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

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

<P STYLE="margin: 0">&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: 0 0 12pt; text-align: center">INDENTURE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Dated as of February 2, 2022</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Among</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">ERO COPPER CORP.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">THE GUARANTORS NAMED ON THE SIGNATURE PAGES
HERETO</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">and</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">COMPUTERSHARE TRUST COMPANY, N.A.,</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">as Trustee</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">6.50% SENIOR NOTES DUE 2030</P>

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

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

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

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

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

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

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




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">TABLE OF CONTENTS</P>





<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; text-align: center; padding-top: 0pt; padding-bottom: 0pt">Page</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD COLSPAN="2" STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; padding-top: 0pt; padding-bottom: 0pt">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="text-align: left; vertical-align: top">ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE</TD>
    <TD STYLE="vertical-align: top; text-align: right; padding-top: 0pt; padding-bottom: 0pt">1</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in; width: 86%">Section&nbsp;1.01&nbsp;&nbsp;&nbsp;Definitions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt; width: 7%">1</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;1.02&nbsp;&nbsp;&nbsp;Other Definitions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">34</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;1.03&nbsp;&nbsp;&nbsp;Rules of Construction</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">36</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;1.04&nbsp;&nbsp;&nbsp;Acts of Holders</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">37</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: White">
    <TD COLSPAN="2">ARTICLE 2 THE NOTES</TD>
    <TD STYLE="text-align: right; padding-top: 0pt; padding-bottom: 0pt">39</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.01&nbsp;&nbsp;&nbsp;Form and Dating; Terms</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">39</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.02&nbsp;&nbsp;&nbsp;Execution and Authentication</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">40</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.03&nbsp;&nbsp;&nbsp;Registrar and Paying Agent</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">41</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.04&nbsp;&nbsp;&nbsp;Paying Agent to Hold Money in Trust</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">41</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.05&nbsp;&nbsp;&nbsp;Holder Lists</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">42</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.06&nbsp;&nbsp;&nbsp;Transfer and Exchange</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">42</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.07&nbsp;&nbsp;&nbsp;Replacement Notes</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">43</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.08&nbsp;&nbsp;&nbsp;Outstanding Notes</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">44</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.09&nbsp;&nbsp;&nbsp;Treasury Notes</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">44</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.10&nbsp;&nbsp;&nbsp;Temporary Notes</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">45</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.11&nbsp;&nbsp;&nbsp;Cancellation</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">45</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.12&nbsp;&nbsp;&nbsp;Defaulted Interest</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">45</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.13&nbsp;&nbsp;&nbsp;Additional Amounts</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">46</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.14&nbsp;&nbsp;&nbsp;CUSIP and ISIN Numbers</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">48</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;2.15&nbsp;&nbsp;&nbsp;Computation of Interest</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">48</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: White">
    <TD COLSPAN="2">ARTICLE 3 REDEMPTION</TD>
    <TD STYLE="vertical-align: top; text-align: right; padding-top: 0pt; padding-bottom: 0pt">49</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;3.01&nbsp;&nbsp;&nbsp;Notices to Trustee</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">49</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;3.02&nbsp;&nbsp;&nbsp;Selection of Notes to Be Redeemed or Purchased</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">49</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;3.03&nbsp;&nbsp;&nbsp;Notice of Redemption</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">50</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;3.04&nbsp;&nbsp;&nbsp;Effect of Notice of Redemption</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">51</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;3.05&nbsp;&nbsp;&nbsp;Deposit of Redemption or Purchase Price</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">51</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;3.06&nbsp;&nbsp;&nbsp;Notes Redeemed or Purchased in Part</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">52</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;3.07&nbsp;&nbsp;&nbsp;Optional Redemption</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">52</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;3.08&nbsp;&nbsp;&nbsp;Mandatory Redemption; Open Market Purchases</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">53</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;3.09&nbsp;&nbsp;&nbsp;Tax Redemption</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">53</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;3.10&nbsp;&nbsp;&nbsp;Offers to Repurchase by Application of Excess Proceeds</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">54</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: rgb(198,244,249)">
    <TD COLSPAN="2">ARTICLE 4 COVENANTS</TD>
    <TD STYLE="text-align: right; padding-top: 0pt; padding-bottom: 0pt">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.01&nbsp;&nbsp;&nbsp;Payment of Notes</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.02&nbsp;&nbsp;&nbsp;Maintenance of Office or Agency</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.03&nbsp;&nbsp;&nbsp;Reports and Other Information</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.04&nbsp;&nbsp;&nbsp;Compliance Certificate</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">59</TD></TR>
</TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in; width: 86%">Section&nbsp;4.05&nbsp;&nbsp;&nbsp;Taxes</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt; width: 7%">60</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.06&nbsp;&nbsp;&nbsp;Stay, Extension and Usury Laws</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">60</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.07&nbsp;&nbsp;&nbsp;Limitation on Restricted Payments</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">60</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.08&nbsp;&nbsp;&nbsp;Limitation on Restrictions on Distribution From Restricted Subsidiaries</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">66</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.09&nbsp;&nbsp;&nbsp;Limitation on Indebtedness</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">69</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.10&nbsp;&nbsp;&nbsp;Asset Dispositions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">74</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.11&nbsp;&nbsp;&nbsp;Transactions with Affiliates</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">77</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.12&nbsp;&nbsp;&nbsp;Limitation on Liens</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">80</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.13&nbsp;&nbsp;&nbsp;Corporate Existence</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">80</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.14&nbsp;&nbsp;&nbsp;Offer to Repurchase Upon Change of Control Triggering Event</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">80</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.15&nbsp;&nbsp;&nbsp;Additional Note Guarantees</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">83</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;4.16&nbsp;&nbsp;&nbsp;Effectiveness of Covenants</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">83</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: rgb(198,244,249)">
    <TD COLSPAN="2">ARTICLE 5 SUCCESSORS</TD>
    <TD STYLE="text-align: right; padding-top: 0pt; padding-bottom: 0pt">85</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;5.01&nbsp;&nbsp;&nbsp;Merger, Amalgamation, Arrangement, Consolidation or Sale of All or Substantially All Assets</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">85</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;5.02&nbsp;&nbsp;&nbsp;Successor Entity Substituted</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">87</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: White">
    <TD COLSPAN="2">ARTICLE 6 DEFAULTS AND REMEDIES</TD>
    <TD STYLE="text-align: right; padding-top: 0pt; padding-bottom: 0pt">87</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.01&nbsp;&nbsp;&nbsp;Events of Default</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">87</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.02&nbsp;&nbsp;&nbsp;Acceleration</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">90</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.03&nbsp;&nbsp;&nbsp;Other Remedies</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">90</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.04&nbsp;&nbsp;&nbsp;Waiver of Past Defaults</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">90</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.05&nbsp;&nbsp;&nbsp;Control by Majority</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">91</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.06&nbsp;&nbsp;&nbsp;Limitation on Suits</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">91</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.07&nbsp;&nbsp;&nbsp;Rights of Holders to Receive Payment</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">92</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.08&nbsp;&nbsp;&nbsp;Collection Suit by Trustee</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">92</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.09&nbsp;&nbsp;&nbsp;Restoration of Rights and Remedies</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">92</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.10&nbsp;&nbsp;&nbsp;Rights and Remedies Cumulative</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">92</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.11&nbsp;&nbsp;&nbsp;Delay or Omission Not Waiver</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">92</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.12&nbsp;&nbsp;&nbsp;Trustee May File Proofs of Claim</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">93</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.13&nbsp;&nbsp;&nbsp;Priorities</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">93</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;6.14&nbsp;&nbsp;&nbsp;Undertaking for Costs</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">93</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: rgb(198,244,249)">
    <TD COLSPAN="2">ARTICLE 7 TRUSTEE</TD>
    <TD STYLE="text-align: right; padding-top: 0pt; padding-bottom: 0pt">94</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;7.01&nbsp;&nbsp;&nbsp;Duties of Trustee</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">94</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;7.02&nbsp;&nbsp;&nbsp;Rights of Trustee</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">95</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;7.03&nbsp;&nbsp;&nbsp;Individual Rights of Trustee</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">97</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;7.04&nbsp;&nbsp;&nbsp;Trustee&rsquo;s Disclaimer</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">97</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;7.05&nbsp;&nbsp;&nbsp;Notice of Defaults</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">97</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;7.06&nbsp;&nbsp;&nbsp;Reserved</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">97</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;7.07&nbsp;&nbsp;&nbsp;Compensation and Indemnity</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">97</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;7.08&nbsp;&nbsp;&nbsp;Replacement of Trustee</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">98</TD></TR>
</TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in; width: 86%">Section&nbsp;7.09&nbsp;&nbsp;&nbsp;Successor Trustee by Merger</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt; width: 7%">99</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;7.10&nbsp;&nbsp;&nbsp;Eligibility; Disqualification</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">100</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: rgb(198,244,249)">
    <TD COLSPAN="2">ARTICLE 8 LEGAL DEFEASANCE AND COVENANT DEFEASANCE</TD>
    <TD STYLE="text-align: right; padding-top: 0pt; padding-bottom: 0pt">100</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;8.01&nbsp;&nbsp;&nbsp;Option to Effect Legal Defeasance or Covenant Defeasance</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">100</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;8.02&nbsp;&nbsp;&nbsp;Legal Defeasance and Discharge</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">100</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;8.03&nbsp;&nbsp;&nbsp;Covenant Defeasance</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">101</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;8.04&nbsp;&nbsp;&nbsp;Conditions to Legal or Covenant Defeasance</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">101</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;8.05&nbsp;&nbsp;&nbsp;Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">103</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;8.06&nbsp;&nbsp;&nbsp;Repayment to the Company</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">103</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;8.07&nbsp;&nbsp;&nbsp;Reinstatement</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">104</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: rgb(198,244,249)">
    <TD COLSPAN="2">ARTICLE 9 AMENDMENT, SUPPLEMENT AND WAIVER</TD>
    <TD STYLE="text-align: right; padding-top: 0pt; padding-bottom: 0pt">104</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;9.01&nbsp;&nbsp;&nbsp;Without Consent of Holders</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">104</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;9.02&nbsp;&nbsp;&nbsp;With Consent of Holders</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">105</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;9.03&nbsp;&nbsp;&nbsp;[Reserved]</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">107</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;9.04&nbsp;&nbsp;&nbsp;Revocation and Effect of Consents</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">107</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;9.05&nbsp;&nbsp;&nbsp;Notation on or Exchange of Notes</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">107</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;9.06&nbsp;&nbsp;&nbsp;Trustee to Sign Amendments, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">107</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;9.07&nbsp;&nbsp;&nbsp;Payment for Consent</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">108</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: rgb(198,244,249)">
    <TD COLSPAN="2">ARTICLE 10 GUARANTEES</TD>
    <TD STYLE="text-align: right; padding-top: 0pt; padding-bottom: 0pt">108</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;10.01&nbsp;&nbsp;&nbsp;Guarantee</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">108</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;10.02&nbsp;&nbsp;&nbsp;Limitation on Guarantor Liability</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">110</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;10.03&nbsp;&nbsp;&nbsp;Execution and Delivery</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">110</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;10.04&nbsp;&nbsp;&nbsp;Subrogation</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">110</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;10.05&nbsp;&nbsp;&nbsp;Benefits Acknowledged</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">111</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;10.06&nbsp;&nbsp;&nbsp;Release of Note Guarantees</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">111</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: White">
    <TD COLSPAN="2">ARTICLE 11 SATISFACTION AND DISCHARGE</TD>
    <TD STYLE="text-align: right; padding-top: 0pt; padding-bottom: 0pt">112</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;11.01&nbsp;&nbsp;&nbsp;Satisfaction and Discharge</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">112</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;11.02&nbsp;&nbsp;&nbsp;Application of Trust Money</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">113</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; background-color: rgb(198,244,249)">
    <TD COLSPAN="2">ARTICLE 12 MISCELLANEOUS</TD>
    <TD STYLE="text-align: right; padding-top: 0pt; padding-bottom: 0pt">113</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.01&nbsp;&nbsp;&nbsp;Notices</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">113</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.02&nbsp;&nbsp;&nbsp;Communication by Holders with Other Holders</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">115</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.03&nbsp;&nbsp;&nbsp;Certificate and Opinion as to Conditions Precedent</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">115</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.04&nbsp;&nbsp;&nbsp;Statements Required in Certificate or Opinion</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">116</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.05&nbsp;&nbsp;&nbsp;Rules by Trustee and Agents</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">116</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.06&nbsp;&nbsp;&nbsp;No Personal Liability of Directors, Officers, Employees, Members, Partners and Shareholders</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">116</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.07&nbsp;&nbsp;&nbsp;Governing Law</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">116</TD></TR>
</TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in; width: 86%">Section&nbsp;12.08&nbsp;&nbsp;&nbsp;Waiver of Jury Trial</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt; width: 7%">117</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.09&nbsp;&nbsp;&nbsp;No Adverse Interpretation of Other Agreements</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">117</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.10&nbsp;&nbsp;&nbsp;Successors</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">117</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.11&nbsp;&nbsp;&nbsp;Severability</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">117</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.12&nbsp;&nbsp;&nbsp;Counterpart Originals</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">117</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.13&nbsp;&nbsp;&nbsp;Table of Contents, Headings, etc</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">117</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.14&nbsp;&nbsp;&nbsp;U.S.A. PATRIOT Act</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">117</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.15&nbsp;&nbsp;&nbsp;Payments Due on Non-Business Days</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">117</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.16&nbsp;&nbsp;&nbsp;Submission to Jurisdiction</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">118</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.17&nbsp;&nbsp;&nbsp;Waiver of Immunity</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">118</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in">Section&nbsp;12.18&nbsp;&nbsp;&nbsp;Calculations</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">118</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&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: 11%">Appendix&nbsp;A</TD>
    <TD STYLE="width: 89%">Provisions Relating to Initial Notes and Additional Notes</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Exhibit&nbsp;A</TD>
    <TD>Form of Note</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Exhibit&nbsp;B</TD>
    <TD>Form of Institutional Accredited Investor Transferee Letter of Representation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Exhibit&nbsp;C</TD>
    <TD>Form of Supplemental Indenture to Be Delivered by Subsequent Guarantors</TD></TR>
  </TABLE>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">INDENTURE, dated as of February
2, 2022, among Ero Copper Corp., a corporation existing under the laws of British Columbia (the &ldquo;<FONT STYLE="font-weight: normal"><U>Company</U></FONT>&rdquo;),
the Guarantors (as defined herein) listed on the signature pages hereto and Computershare Trust Company, N.A., a national association,
as Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>W&nbsp;I T N E S S E T H</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">WHEREAS, the Company has
duly authorized the creation of and issue of $400,000,000 aggregate principal amount of 6.50% Senior Notes due 2030 (the &ldquo;<FONT STYLE="font-weight: normal"><U>Initial
Notes</U></FONT>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">WHEREAS, the Company and
each of the Guarantors have duly authorized the execution and delivery of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">NOW, THEREFORE, the Company,
the Guarantors and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
1<BR>
<BR>
DEFINITIONS AND INCORPORATION BY REFERENCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;1.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Definitions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Acquired
Indebtedness</U></FONT>&rdquo; means, with respect to any specified Person, (1) Indebtedness of any Person or any of its Subsidiaries
existing at the time such Person becomes a Restricted Subsidiary of the Company or (2) assumed in connection with the acquisition of assets
from such Person, in each case whether or not Incurred by such Person in connection with, or in anticipation or contemplation of, such
Person becoming a Restricted Subsidiary of the Company or such acquisition, and Indebtedness secured by a Lien encumbering any asset acquired
by such specified Person. Acquired Indebtedness shall be deemed to have been Incurred, with respect to clause&nbsp;(1) of the preceding
sentence, on the date such Person becomes a Restricted Subsidiary of the Company and, with respect to clause&nbsp;(2) of the preceding
sentence, on the date of consummation of such acquisition of assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Additional
Assets</U></FONT>&rdquo; means:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any property, plant, equipment or other asset (excluding working capital or current assets for the avoidance of doubt) to be used
by the Company or any of its Restricted Subsidiaries in a Similar Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Capital Stock of a Person that becomes a Restricted Subsidiary of the Company as a result of the acquisition of such Capital
Stock by the Company or its Restricted Subsidiary; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Capital Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary of the Company;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U>provided</U>, <U>however</U>, that, in the
case of clauses&nbsp;(2) and (3), such Restricted Subsidiary is primarily engaged in a Similar Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Additional
Notes</U></FONT>&rdquo; means Notes (other than the Initial Notes) issued from time to time under this Indenture in accordance with <U>Section&nbsp;2.01</U>
and <U>Section&nbsp;4.09</U>, as part of the same series as the Initial Notes whether or not they bear the same &ldquo;CUSIP&rdquo; number.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Affiliate</U></FONT>&rdquo;
of any specified Person means any other Person, directly or indirectly, controlling or controlled by or under direct or indirect common
control with such specified Person. For the purposes of this definition, &ldquo;control&rdquo; (including, with correlative meanings,
the terms &ldquo;controlling,&rdquo; &ldquo;controlled by&rdquo; and &ldquo;under common control with&rdquo;) when used with respect to
any Person means possession, directly or indirectly, of the power to direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise; and the terms &ldquo;controlling&rdquo; and &ldquo;controlled&rdquo;
have meanings correlative to the foregoing; <U>provided</U> that exclusively for purposes of <U>Section&nbsp;4.10</U> and <U>Section&nbsp;4.11</U>,
beneficial ownership of 10% or more of the Voting Stock of a Person shall be deemed to be control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Agent</U></FONT>&rdquo;
means any Registrar, Paying Agent, tranfer agent or authentication agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Applicable
Premium</U></FONT>&rdquo; means, with respect to a Note on any date of redemption, the greater of (as determined and calculated by the
Company):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>1.0% of the principal amount of such Note, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the excess, if any, of (a) the present value as of such date of redemption of (i) the redemption price of such Note on February
15, 2025 (such redemption price being set forth in <U>Section&nbsp;3.07</U>), plus (ii) all required interest payments due on such Note
through February 15, 2025 (excluding accrued but unpaid interest to the date of redemption), computed using a discount rate equal to the
Treasury Rate as of such date of redemption plus 50 basis points, over (b) the then-outstanding principal amount of such Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Asset
Disposition</U></FONT>&rdquo; means any direct or indirect sale, lease (other than an operating lease entered into in the ordinary course
of business), transfer, issuance or other disposition, or a series of related sales, leases, transfers, issuances or dispositions that
are part of a common plan, of shares of Capital Stock of a Subsidiary (other than directors&rsquo; qualifying shares), property or other
assets (each referred to for the purposes of this definition as a &ldquo;disposition&rdquo;) by the Company or any of its Restricted Subsidiaries,
including any disposition by means of a merger, amalgamation, consolidation, arrangement or similar transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Notwithstanding the preceding,
the following items shall not be deemed to be Asset Dispositions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a disposition of assets by a Company&rsquo;s Restricted Subsidiary to the Company or by the Company or any of its Restricted Subsidiaries
to a Restricted Subsidiary of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a disposition of Cash Equivalents in the ordinary course of business;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a disposition of inventory in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a disposition of obsolete, damaged or worn out property or equipment or property or equipment that are no longer used or useful
in the conduct of the business of the Company and its Restricted Subsidiaries and that is disposed of in each case in the ordinary course
of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the disposition of all or substantially all of the assets of the Company in a manner permitted pursuant to <U>Section&nbsp;5.01</U>
or any disposition that constitutes a Change of Control pursuant to this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>an issuance of Capital Stock by a Company&rsquo;s Restricted Subsidiary to the Company or to a Wholly Owned Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Permitted Investment or Restricted Payment in compliance with <U>Section&nbsp;4.07</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>dispositions of assets in a single transaction or a series of related transactions with an aggregate Fair Market Value of less
than $25.0 million;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the creation of a Permitted Lien and dispositions in connection with Permitted Liens;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the issuance by a Restricted Subsidiary of the Company of Preferred Stock that is permitted by <U>Section&nbsp;4.09</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(11)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the licensing or sublicensing of intellectual property or other general intangibles and licenses, leases or subleases of other
property in the ordinary course of business which do not materially interfere with the business of the Company and its Restricted Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(12)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>foreclosure on assets;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(13)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any sale of Capital Stock in, or Indebtedness or other securities of, an Unrestricted Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(14)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the unwinding of any Hedging Obligations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(15)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the surrender of contract rights or the settlement or surrender of contract, tort or other claims;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(16)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>dispositions in connection with royalty or precious metals stream or similar transactions that are customary in the mining business
(as determined in good faith by the Company);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(17)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>dispositions of any assets of or related to, or Investments in, any mineral property of the Company or any of its Restricted Subsidiaries
that has been placed on care and maintenance for more than 12 months or is subject to a mine closure plan;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(18)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any exchange of assets for assets (including a combination of assets (which assets may include Capital Stock or any securities
convertible into, or exercisable or exchangeable for, Capital Stock, but which assets may not include any Indebtedness) and Cash Equivalents)
related to a Similar Business of comparable or greater market value, which in the event of an exchange of assets with a Fair Market Value
in excess of (a) $10.0 million shall be evidenced by an Officer&rsquo;s Certificate and (b) $30.0 million shall be set forth in a resolution
approved by at least a majority of the members of the Board of Directors of the Company; <U>provided</U> that the Company shall apply
any cash or Cash Equivalents received in any such exchange of assets as described in <U>Section&nbsp;4.10(a)(3)</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(19)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>dispositions to the extent required by, or made pursuant to, customary buy/sell arrangements between the joint venture parties
set forth in joint venture arrangements and similar binding agreements; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(20)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the lease, assignment, sub-lease, license or sub-license of any real or personal property in the ordinary course of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Average
Life</U></FONT>&rdquo; means, as of the date of determination, with respect to any Indebtedness or Preferred Stock, the quotient obtained
by dividing (1) the sum of the products of the numbers of years from the date of determination to the dates of each successive scheduled
principal payment of such Indebtedness or redemption or similar payment with respect to such Preferred Stock multiplied by the amount
of such payment by (2) the sum of all such payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Bankruptcy
Law</U></FONT>&rdquo; means Title 11, U.S. Code, the Bankruptcy and Insolvency Act (Canada), the Companies&rsquo; Creditors Arrangement
Act (Canada), in each case, as amended, or any similar federal, Canadian, provincial, state or foreign law for the relief of debtors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>beneficial
ownership</U></FONT>&rdquo; has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, and &ldquo;<FONT STYLE="font-weight: normal"><U>beneficial
owner</U></FONT>&rdquo; has a corresponding meaning.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Board
of Directors</U></FONT>&rdquo; means:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to a corporation, the Board of Directors of the corporation or (other than for purposes of determining Change of Control)
the executive committee of the Board of Directors;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to a partnership, the Board of Directors of the general partner of the partnership; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to any other Person, the board or committee of such Person serving a similar function.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Business
Day</U></FONT>&rdquo; means each day that is not a Saturday, Sunday or other day on which banking institutions in New York, New York,
Vancouver, British Columbia, Toronto, Ontario, or where the Corporate Trust Office is located, are authorized or required by law to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Canadian
Securities Legislation</U></FONT>&rdquo; means all applicable securities laws in each of the provinces and territories of Canada, including,
without limitation, the Province of Ontario, and the</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">respective regulations and rules under such laws together with applicable published
rules, policy statements, blanket orders, instruments, rulings and notices of the regulatory authorities in such provinces or territories.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Capital
Stock</U></FONT>&rdquo; of any Person means any and all shares, interests, rights to purchase, warrants, options, participations or other
equivalents of or interests in (however designated) equity of such Person, including any Preferred Stock and limited liability or partnership
interests (whether general or limited), but excluding any debt securities convertible or exchangeable into such equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Capitalized
Lease Obligations</U></FONT>&rdquo; means an obligation that would have been required to be classified and accounted for as a capitalized
lease for financial reporting purposes in accordance with IFRS as of the Issue Date, excluding any leases that would have been classified
as, and determined to be, operating leases in accordance with IFRS in effect immediately prior to the implementation of IFRS 16 - Leases.
The amount of Indebtedness represented by such obligation will be the capitalized amount of such obligation, excluding operating leases,
at the time any determination thereof is to be made as determined in accordance with IFRS, and the Stated Maturity thereof will be the
date of the last payment of rent or any other amount due under such lease prior to the first date such lease may be terminated without
penalty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Cash
Equivalents</U></FONT>&rdquo; means:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Canadian
dollars, U.S. dollars or, in the case of any foreign Subsidiary, such other local currencies held by it from time to time in the ordinary
course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>securities issued or directly and fully Guaranteed or insured by the Canadian or U.S. government or any agency or instrumentality
of Canada or the United States (<U>provided</U> that the full faith and credit of Canada or the United States is pledged in support thereof),
having maturities of not more than one year from the date of acquisition;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>marketable general obligations issued by any province of Canada or state of the United States or any political subdivision of any
such province or state or any public instrumentality thereof maturing within one year from the date of acquisition and, at the time of
acquisition, having a credit rating of &ldquo;A&rdquo; or better from S&amp;P, &ldquo;A-2&rdquo; or better from Moody&rsquo;s or &ldquo;A&rdquo;
or better from Fitch, or carrying an equivalent rating by a nationally recognized Rating Agency, if each of the three named Rating Agencies
cease publishing ratings of investments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>certificates
of deposit, time deposits, eurodollar time deposits, overnight bank deposits or bankers&rsquo; acceptances having maturities of not more
than one year from the date of acquisition thereof issued by any commercial bank the long-term debt of which is rated at the time of
acquisition thereof at least &ldquo;A&rdquo; or the equivalent thereof by S&amp;P, &ldquo;A-2&rdquo; or the equivalent thereof by Moody&rsquo;s
or &ldquo;A&rdquo; or the equivalent thereof by Fitch, or carrying an equivalent rating by a nationally recognized Rating Agency, if
each of the three named Rating Agencies cease publishing ratings of investments, and having combined capital and surplus in excess of
$500.0 million;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>repurchase obligations with a term of not more than seven days for underlying securities of the types described in clauses&nbsp;(2),
(3) and (4) entered into with any bank meeting the qualifications specified in clause&nbsp;(4) above;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>commercial paper rated at the time of acquisition thereof at least &ldquo;A-2&rdquo; or the equivalent thereof by S&amp;P, &ldquo;P-2&rdquo;
or the equivalent thereof by Moody&rsquo;s or &ldquo;F2&rdquo; or the equivalent from Fitch, or carrying an equivalent rating by a nationally
recognized Rating Agency, if each of the three named Rating Agencies cease publishing ratings of investments, and in any case maturing
within one year after the date of acquisition thereof; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>interests in any investment company or money market fund which invests 95% or more of its assets in instruments of the type specified
in clauses&nbsp;(1) through (6) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Cash
Management Agreements</U></FONT>&rdquo; means any agreement providing for treasury, depository, purchasing card or cash management services,
including in connection with any automated clearing house transfer of funds or any similar transaction entered into in the ordinary course
of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Change
of Control</U></FONT>&rdquo; means:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
&ldquo;person&rdquo; or &ldquo;group&rdquo; of related persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act)
becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that such person or group shall be deemed
to have &ldquo;beneficial ownership&rdquo; of all shares that any such person or group has the right to acquire, whether such right is
exercisable immediately or only after the passage of time), directly or indirectly, of more than 50% of the total voting power of the
Voting Stock of the Company (or its successor by merger, consolidation, amalgamation, arrangement or purchase of all or substantially
all of its assets); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
merger, consolidation, amalgamation or arrangement of the Company with or into another Person or the merger, consolidation, amalgamation
or arrangement of another Person with or into the Company, unless the holders of a majority of the aggregate voting power of the Voting
Stock of the Company, immediately prior to such transaction, hold securities of the surviving or transferee Person that represent, immediately
after such transaction, at least a majority of the aggregate voting power of the Voting Stock of the surviving or transferee Person;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
sale, assignment, conveyance, transfer, lease or other disposition (other than by way of merger, consolidation, amalgamation or arrangement),
in one or a series of related transactions, of all or substantially all of the assets of the Company and its Restricted Subsidiaries
taken as a whole to any &ldquo;person&rdquo; (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) other than the Company
or a Guarantor; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the adoption by the shareholders of the Company of a plan or proposal for the liquidation or dissolution of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Change
of Control Triggering Event</U></FONT>&rdquo; means the occurrence of both a Change of Control and a related Rating Decline. Notwithstanding
the foregoing, for the avoidance of doubt, no Change of Control Triggering Event will be deemed to have occurred in connection with any
particular Change of Control unless and until such Change of Control has actually been consummated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Code</U></FONT>&rdquo;
means the Internal Revenue Code of 1986, as amended.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Commodity
Agreement</U></FONT>&rdquo; means any commodity futures contract, commodity swap, commodity option or other similar agreement or arrangement
entered into by the Company or any of its Restricted Subsidiaries designed to protect the Company or any of its Restricted Subsidiaries
against fluctuations in the price of commodities actually produced or used in the ordinary course of business of the Company and its Restricted
Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Common
Stock</U></FONT>&rdquo; means with respect to any Person, any and all shares, interest or other participations in, and other equivalents
(however designated and whether voting or nonvoting) of such Person&rsquo;s common stock, whether or not outstanding on the Issue Date,
and includes, without limitation, all series and classes of such common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Company</U></FONT>&rdquo;
has the meaning set forth in the recitals hereto or any successor obligor to its obligations under this Indenture and the Notes pursuant
to <U>Article&nbsp;5</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Consolidated
Coverage Ratio</U></FONT>&rdquo; means as of any date of determination, with respect to any Person, the ratio of (x) the aggregate amount
of Consolidated EBITDA of such Person for the period of the most recent four consecutive fiscal quarters ending prior to the date of such
determination for which financial statements are internally available to (y) Consolidated Interest Expense for such four fiscal quarters;
<U>provided</U>, <U>however</U>, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the Company or any of its Restricted Subsidiaries:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>has Incurred any Indebtedness (other than Indebtedness that constitutes ordinary working capital borrowings) since the beginning
of such period that remains outstanding on such date of determination or if the transaction giving rise to the need to calculate the Consolidated
Coverage Ratio includes an Incurrence of Indebtedness (other than Indebtedness that constitutes ordinary working capital borrowings),
Consolidated EBITDA and Consolidated Interest Expense for such period will be calculated after giving effect on a <U>pro forma</U> basis
to such Indebtedness as if such Indebtedness had been Incurred on the first day of such period (except that in making such computation,
the amount of Indebtedness under any revolving Debt Facility outstanding on the date of such calculation will be deemed to be:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 1.5in; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the average daily balance of such Indebtedness during such four fiscal quarters or such shorter period for which such facility
was outstanding; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 1.5in; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if such facility was created after the end of such four fiscal quarters, the average daily balance of such Indebtedness during
the period from the date of creation of such facility to the date of such calculation),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">and the discharge of any other Indebtedness
repaid, repurchased, redeemed, retired, defeased or otherwise discharged with the proceeds of such new Indebtedness as if such discharge
had occurred on the first day of such period; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>has repaid, repurchased, redeemed, retired, defeased or otherwise discharged any Indebtedness since the beginning of the period
that is no longer outstanding on such date of determination or if the transaction giving rise to the need to calculate the</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">Consolidated
Coverage Ratio includes a discharge of Indebtedness (in each case, other than Indebtedness Incurred under any revolving Debt Facility
unless such Indebtedness has been permanently repaid and the related commitment terminated and not replaced), Consolidated EBITDA and
Consolidated Interest Expense for such period will be calculated after giving effect on a <U>pro forma</U> basis to such discharge of
such Indebtedness, including with the proceeds of such new Indebtedness, as if such discharge had occurred on the first day of such period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if since the beginning of such period, the Company or any of its Restricted Subsidiaries will have made any Asset Disposition or
disposed of or discontinued (as defined under IFRS) any company, division, operating unit, segment, business, group of related assets
or line of business or if the transaction giving rise to the need to calculate the Consolidated Coverage Ratio is such an Asset Disposition:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Consolidated EBITDA for such period will be reduced by an amount equal to the Consolidated EBITDA (if positive) directly attributable
to the assets that are the subject of such disposition or discontinuation for such period or increased by an amount equal to the Consolidated
EBITDA (if negative) directly attributable thereto for such period; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Consolidated Interest Expense for such period will be reduced by an amount equal to the Consolidated Interest Expense directly
attributable to any Indebtedness of the Company or any of its Restricted Subsidiaries repaid, repurchased, redeemed, retired, defeased
or otherwise discharged (to the extent the related commitment is permanently reduced) with respect to the Company and its continuing Restricted
Subsidiaries in connection with such transaction for such period (or, if the Capital Stock of any Restricted Subsidiary of the Company
is sold, the Consolidated Interest Expense for such period directly attributable to the Indebtedness of such Restricted Subsidiary to
the extent the Company and its continuing Restricted Subsidiaries are no longer liable for such Indebtedness after such sale);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if since the beginning of such period the Company or any of its Restricted Subsidiaries (by merger, consolidation, amalgamation,
arrangement or otherwise) will have made an Investment in any Restricted Subsidiary of the Company (or any Person that becomes a Restricted
Subsidiary of the Company or is merged with or into the Company or any of its Restricted Subsidiaries) or an acquisition of assets, including
any acquisition of assets occurring in connection with a transaction causing a calculation to be made hereunder, which constitutes all
or substantially all of a company, division, operating unit, segment, business, group of related assets or line of business, Consolidated
EBITDA and Consolidated Interest Expense for such period will be calculated after giving <U>pro forma</U> effect thereto (including the
Incurrence of any Indebtedness) as if such Investment or acquisition occurred on the first day of such period; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if since the beginning of such period any Person (that subsequently became a Restricted Subsidiary of the Company or was merged
with or into the Company or any of its Restricted Subsidiaries since the beginning of such period) will have Incurred any Indebtedness
or discharged any Indebtedness, made any disposition or any Investment or acquisition of assets that would have required an adjustment
pursuant to clause&nbsp;(1), (2) or (3) above if made by the Company</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">or its Restricted Subsidiary during such period, Consolidated EBITDA
and Consolidated Interest Expense for such period will be calculated after giving <U>pro forma</U> effect thereto as if such transaction
occurred on the first day of such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">For purposes of this definition,
whenever <U>pro forma</U> effect is to be given to any calculation under this definition, the <U>pro forma</U> calculations will be determined
in good faith by a responsible financial or accounting officer of the Company. If any Indebtedness bears a floating rate of interest and
is being given <U>pro forma</U> effect, the interest expense on such Indebtedness will be calculated as if the rate in effect on the date
of determination had been the applicable rate for the entire period (taking into account any Interest Rate Agreement applicable to such
Indebtedness if such Interest Rate Agreement has a remaining term in excess of 12 months). If any Indebtedness that is being given <U>pro
forma</U> effect bears an interest rate at the option of the Company, the interest rate shall be calculated by applying such optional
rate chosen by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Consolidated
EBITDA</U></FONT>&rdquo; for any period means, with respect to any Person, the Consolidated Net Income of such Person for such period:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>increased (without duplication) by the following items to the extent deducted in calculating such Consolidated Net Income:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Consolidated Interest Expense; <U>plus</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Consolidated Income Taxes and mining tax expenses; <U>plus</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>consolidated amortization, depletion and depreciation expense; <U>plus</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>consolidated impairment charges; <U>plus</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>other
non-cash charges reducing Consolidated Net Income (other than depreciation, amortization or depletion expense), including any write-offs
or write-downs (excluding any such non-cash charge to the extent it represents an accrual of or reserve for cash charges in any future
period or amortization of a prepaid cash expense that was capitalized at the time of payment) and non-cash compensation expense recorded
from grants of stock appreciation or similar rights, stock options, restricted stock or other rights to officers, directors or employees;
<U>plus</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any expenses or charges (other than depreciation, amortization or depletion expense) related to any Equity Offering, Permitted
Investment, merger, amalgamation, consolidation, arrangement, acquisition, disposition, recapitalization or the Incurrence of Indebtedness
permitted to be Incurred by this Indenture (including a refinancing thereof) (whether or not successful), including (i) fees, expenses
or charges related to the offering of the Notes and (ii) any amendment or other modification of the Notes; <U>plus</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any restructuring charges, integration costs or costs associated with establishing new facilities (which, for the avoidance of
doubt, shall include retention, severance, relocation, workforce reduction, contract termination, systems establishment costs and facilities
consolidation costs) certified by the chief financial officer of the</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">Company and deducted (and not added back) in computing Consolidated
Net Income; <U>provided</U> that the aggregate amount of all charges, expenses and costs added back under this clause&nbsp;(g) shall not
to exceed $20.0 million in any consecutive four-quarter period; <U>plus</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>accretion of asset retirement obligations, net of cash payments for such asset retirement obligations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>decreased (without duplication) by non-cash items increasing Consolidated Net Income of such Person for such period (excluding
any items which represent the reversal of any accrual of, or reserve for, anticipated cash charges that reduced Consolidated EBITDA in
any prior period); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>increased or decreased (without duplication) to eliminate the following items to the extent reflected in Consolidated Net Income:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any net gain or loss resulting in such period from currency translation gains or losses; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>effects
of adjustments (including the effects of such adjustments pushed down to the Company and its Restricted Subsidiaries) in any line item
in such Person&rsquo;s consolidated financial statements resulting from the application of purchase accounting in relation to any completed
acquisition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Notwithstanding the foregoing,
clauses&nbsp;(1)(b) through (h) above relating to amounts of a Restricted Subsidiary of a Person will be added to Consolidated Net Income
to compute Consolidated EBITDA of such Person only to the extent (and in the same proportion) that the net income (loss) of such Restricted
Subsidiary was included in calculating the Consolidated Net Income of such Person and, to the extent the amounts set forth in clauses&nbsp;(1)(b)
through (h) above are in excess of those necessary to offset a net loss of such Restricted Subsidiary or if such Restricted Subsidiary
has net income for such period included in Consolidated Net Income, only if a corresponding amount would be permitted at the date of determination
to be dividended to the Company by such Restricted Subsidiary without prior approval (that has not been obtained), pursuant to the terms
of its charter and all agreements, instruments, judgments, decrees, orders, statutes, rules and governmental regulations applicable to
that Restricted Subsidiary or its shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Consolidated
Income Taxes</U></FONT>&rdquo; means, with respect to any Person for any period, taxes imposed upon such Person, or other payments required
to be made by such Person, by any governmental authority which taxes or other payments are calculated by reference to the income or profits
or capital of such Person or such Person and its Restricted Subsidiaries (to the extent such income or profits were included in computing
Consolidated Net Income for such period), including, without limitation, federal, provincial, state, franchise and similar taxes and foreign
withholding taxes regardless of whether such taxes or payments are required to be remitted to any governmental authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Consolidated
Interest Expense</U></FONT>&rdquo; means, with respect to any Person, for any period, the total interest expense of such Person and its
consolidated Restricted Subsidiaries, net of any</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">interest income received by such Person and its consolidated Restricted Subsidiaries,
whether paid or accrued, <U>plus</U>, to the extent not included in such interest expense:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>interest expense attributable to Capitalized Lease Obligations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>amortization
of debt discount (including the amortization of original issue discount resulting from the issuance of Indebtedness at less than par)
and debt issuance cost; <U>provided</U>, <U>however</U>, that any amortization of bond premium will be credited to reduce Consolidated
Interest Expense unless such amortization of bond premium has otherwise reduced Consolidated Interest Expense;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>non-cash interest expense, but any non-cash interest income or expense attributable to the movement in the mark-to-market valuation
of Hedging Obligations or other derivative instruments shall be excluded from the calculation of Consolidated Interest Expense;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>commissions,
discounts and other fees and charges owed with respect to letters of credit and bankers&rsquo; acceptance financing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the interest expense on Indebtedness of another Person that is Guaranteed by such Person or one of its Restricted Subsidiaries
or secured by a Lien on assets of such Person or one of its Restricted Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>costs associated with entering into Hedging Obligations (including amortization of fees) related to Indebtedness;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>interest expense of such Person and its Restricted Subsidiaries that was capitalized during such period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
product of (a) all dividends paid or payable, in cash, Cash Equivalents or Indebtedness or accrued during such period on any series of
Disqualified Stock of such Person or on Preferred Stock of its Non-Guarantors payable to a party other than the Company or a Wholly Owned
Subsidiary, times (b) a fraction, the numerator of which is one and the denominator of which is one minus the then current combined Canadian
and U.S. federal, state, provincial, municipal and local statutory tax rate of such Person, expressed as a decimal, in each case on a
consolidated basis and in accordance with IFRS;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Receivables Fees; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the cash contributions to any employee stock ownership plan or similar trust to the extent such contributions are intended to be
used by such plan or trust to pay interest or fees to any Person (other than the Company and its Restricted Subsidiaries) in connection
with Indebtedness Incurred by such plan or trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">For the purpose of calculating
the Consolidated Coverage Ratio, the calculation of Consolidated Interest Expense shall include all interest expense (including any amounts
described in clauses&nbsp;(1) through (10) above) relating to any Indebtedness of such Person or any of its Restricted Subsidiaries described
in the final paragraph of the definition of &ldquo;Indebtedness.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">For purposes of the foregoing,
total interest expense will be determined (i) after giving effect to any net payments made or received by such Person and its Subsidiaries
with respect to Interest Rate Agreements and (ii) exclusive of amounts classified as other comprehensive income in the balance sheet of
such Person. Notwithstanding anything to the contrary contained herein, without duplication of clause&nbsp;(9) above, commissions, discounts,
yield and other fees and charges Incurred in connection with any transaction pursuant to which such Person or its Restricted Subsidiaries
may sell, convey or otherwise transfer or grant a security interest in any accounts receivable or related assets shall be included in
Consolidated Interest Expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Consolidated
Net Income</U></FONT>&rdquo; means, for any period, the net income (loss) of the Company and its consolidated Restricted Subsidiaries
determined on a consolidated basis in accordance with IFRS; <U>provided</U>, <U>however</U>, that there will not be included in such Consolidated
Net Income:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any net income (loss) of any Person if such Person is not a Restricted Subsidiary of the Company or that is accounted for by the
equity method of accounting, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>subject to the limitations contained in clauses&nbsp;(3) through (8) below, the Company&rsquo;s equity in the net income of any
such Person for such period will be included in such Consolidated Net Income up to the aggregate amount of cash actually distributed by
such Person during such period to the Company or any of its Restricted Subsidiaries as a dividend or other distribution (subject, in the
case of a dividend or other distribution to a Restricted Subsidiary of the Company, to the limitations contained in clause&nbsp;(2) below);
and</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company&rsquo;s equity in a net loss of any such Person (other than an Unrestricted Subsidiary) for such period will be included
in determining such Consolidated Net Income to the extent such loss has been funded with cash from the Company or its Restricted Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>solely for the purpose of determining the amount available for Restricted Payments under clause&nbsp;(C)(i) of <U>Section&nbsp;4.07(a)</U>
any net income (but not loss) of any Restricted Subsidiary of the Company (other than a Guarantor) if such Restricted Subsidiary is subject
to prior government approval or other restrictions due to the operation of its charter or any agreement, instrument, judgment, decree,
order, statute, rule or government regulation (which have not been waived), directly or indirectly, on the payment of dividends or the
making of distributions by such Restricted Subsidiary, directly or indirectly, to the Company, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>subject
to the limitations contained in clauses&nbsp;(3) through (8) below, the Company&rsquo;s equity in the net income of any such Restricted
Subsidiary for such period will be included in such Consolidated Net Income up to the aggregate amount of cash that could have been distributed
by such Restricted Subsidiary during such period to the Company or another Restricted Subsidiary of the Company as a dividend (subject,
in the case of a dividend to another Restricted Subsidiary of the Company, to the limitation contained in this clause); and</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company&rsquo;s equity in a net loss of any such Restricted Subsidiary for such period will be included in determining such
Consolidated Net Income;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any gain or loss (less all fees and expenses relating thereto) realized upon sales or other dispositions of any assets of the Company
or such Restricted Subsidiary, other than in the ordinary course of business, as determined in good faith by Senior Management;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any income or loss from the early extinguishment of Indebtedness or Hedging Obligations or other derivative instruments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any extraordinary or non-recurring gain or loss;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any unrealized net gain or loss resulting in such period from Hedging Obligations or other derivative instruments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any net income or loss included in the consolidated statement of operations with respect to noncontrolling interests; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the cumulative effect of a change in accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Corporate
Trust Office of the Trustee</U></FONT>&rdquo; means the office of the Trustee at which the corporate trust business of the Trustee is
principally administered, which at the date of this Indenture is located at [8742 Lucent Boulevard, Suite 225, Highlands Ranch, Colorado
80129].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Currency
Agreement</U></FONT>&rdquo; means, in respect of a Person, any foreign exchange contract, currency swap agreement, futures contract, option
contract or other similar agreement as to which such Person is a party or a beneficiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Custodian</U></FONT>&rdquo;
means Computershare Trust Company, N.A., a national association, as custodian with respect to the Notes in global form, or any successor
entity thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Debt
Facility</U></FONT>&rdquo; means one or more debt facilities (including, without limitation, the Senior Credit Facility) or commercial
paper facilities, indentures or debt security issuances, in each case with banks, other institutional lenders or investors providing for
revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special purpose
entities formed to borrow from such lenders against such receivables) or letters of credit or issuances of debt securities evidenced by
notes, debentures, bonds, indentures or similar instruments, in each case as amended, restated, modified, renewed, refunded, replaced
or refinanced (including by means of sales of debt securities to institutional investors) in whole or in part from time to time (and whether
or not with the original administrative agent, lenders, investors or trustee or another administrative agent or agents, other lenders,
investors or trustee and whether provided under any credit or other agreement or indenture).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Default</U></FONT>&rdquo;
means any event that is, or after notice or passage of time or both would be, an Event of Default.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Definitive
Note</U></FONT>&rdquo; means a certificated Initial Note or Additional Note (bearing the Restricted Notes Legend if the transfer of such
Note is restricted by applicable law) that does not include the Global Notes Legend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Depositary</U></FONT>&rdquo;
means, with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in <U>Section&nbsp;2.03</U>
as the Depositary with respect to the Notes and any and all successors thereto appointed as Depositary hereunder and having become such
pursuant to the applicable provision of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Designated
Non-cash Consideration</U></FONT>&rdquo; means the Fair Market Value of non-cash consideration received by the Company or any of its Restricted
Subsidiaries in connection with an Asset Disposition that is designated as &ldquo;Designated Non-cash Consideration&rdquo; pursuant to
an Officer&rsquo;s Certificate, setting forth the basis of such valuation, <U>less</U> the amount of cash or Cash Equivalents received
in connection with a subsequent sale, redemption or payment of, on or with respect to such Designated Non-cash Consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Disqualified
Stock</U></FONT>&rdquo; means, with respect to any Person, any Capital Stock of such Person that by its terms (or by the terms of any
security into which it is convertible or for which it is exchangeable) or upon the happening of any event:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>is convertible into or exchangeable for Indebtedness or Disqualified Stock (excluding Capital Stock which is convertible or exchangeable
solely at the option of the Company or its Restricted Subsidiaries (it being understood that upon such conversion or exchange it shall
be an Incurrence of such Indebtedness or Disqualified Stock)); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>is redeemable at the option of the holder of the Capital Stock in whole or in part,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">in each case on or prior to the date 91 days
after the earlier of the final maturity date of the Notes or the date the Notes are no longer outstanding; <U>provided</U>, <U>however</U>,
that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable
at the option of the holder thereof prior to such date will be deemed to be Disqualified Stock; <U>provided</U>, <U>further</U>, that
any Capital Stock that would constitute Disqualified Stock solely because the holders thereof have the right to require the Company or
its Restricted Subsidiaries to repurchase such Capital Stock upon the occurrence of a Change of Control Triggering Event or Asset Disposition
(each defined in a substantially identical manner to the corresponding definitions in this Indenture) shall not constitute Disqualified
Stock if the terms of such Capital Stock (and all such securities into which it is convertible or exchangeable or for which it is redeemable)
provide that the Company or its Restricted Subsidiaries, as applicable, are not required to repurchase or redeem any such Capital Stock
(and all such securities into which it is convertible or exchangeable or for which it is redeemable) pursuant to such provision prior
to compliance by the Company with <U>Section&nbsp;4.10</U> and <U>Section&nbsp;4.14</U> and such repurchase or redemption complies with
<U>Section&nbsp;4.07</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>DTC</U></FONT>&rdquo;
means The Depository Trust Company.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Equity
Offering</U></FONT>&rdquo; means a public offering or private placement for cash by the Company of its Common Stock, or options, warrants
or rights with respect to its Common Stock, other than (1) any issuances pursuant to employee benefit plans or otherwise in compensation
to officers, directors or employees, (2) an issuance to any Subsidiary or (3) any offering of Common Stock issued in connection with a
transaction that constitutes a Change of Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Exchange
Act</U></FONT>&rdquo; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Excluded
Subsidiary</U></FONT>&rdquo; means (a) any Immaterial Subsidiary, (b) NX Gold S.A. and Ero Gold Corp., (c) any Restricted Subsidiary that
(i) is not a borrower or guarantor under any Debt Facility under which the Company or any Guarantor is an obligor and (ii) does not Incur
Indebtedness in excess of $25.0 million aggregate principal amount, at any time outstanding and (d) any Restricted Subsidiary that (i)
is not a Wholly Owned Subsidiary and the Board of Directors of such Restricted Subsidiary determines in good faith that such Restricted
Subsidiary providing a Note Guarantee would be inconsistent with applicable law or (ii) is prohibited from guaranteeing any Indebtedness
pursuant to the terms of any Acquired Indebtedness for so long as such Acquired Indebtedness was not Incurred in contemplation of the
related acquisition and remains outstanding and such Restricted Subsidiary does not Incur any Indebtedness other than such Acquired Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Fair
Market Value</U></FONT>&rdquo; means, with respect to any asset or liability, the fair market value of such asset or liability as determined
by Senior Management of the Company in good faith; <U>provided</U> that if the fair market value exceeds $30.0 million, such determination
shall be made by the Board of Directors of the Company or an authorized committee thereof in good faith (including as to the value of
all non-cash assets and liabilities).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Fitch</U></FONT>&rdquo;
means Fitch Ratings Inc. and any successor to its rating agency business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Government
Securities</U></FONT>&rdquo; means securities that are (1) direct obligations of Canada or the United States for the timely payment of
which its full faith and credit is pledged or (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality
of Canada or the United States the timely payment of which is unconditionally Guaranteed as a full faith and credit obligation of Canada
or the United States, as the case may be, which, in either case, are not callable or redeemable at the option of the issuer thereof, and
shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect
to any such Government Securities or a specific payment of principal of or interest on any such Government Securities held by such custodian
for the account of the holder of such depositary receipt; <U>provided</U> that (except as required by law) such custodian is not authorized
to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect
of the Government Securities or the specific payment of principal of or interest on the Government Securities evidenced by such depositary
receipt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Guarantee</U></FONT>&rdquo;
means any obligation, contingent or otherwise, of any Person directly or indirectly Guaranteeing any Indebtedness of any other Person
and any obligation, direct or indirect, contingent or otherwise, of such Person:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other Person (whether
arising by virtue of partnership arrangements, or by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay,
or to maintain financial statement conditions or otherwise); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect
such obligee against loss in respect thereof (in whole or in part); <U>provided</U>, <U>however</U>, that the term &ldquo;Guarantee&rdquo;
will not include endorsements for collection or deposit in the ordinary course of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Guarantor</U></FONT>&rdquo;
means each Restricted Subsidiary of the Company in existence on the Issue Date that provides a Note Guarantee on the Issue Date and any
other Restricted Subsidiary of the Company that provides a Note Guarantee after the Issue Date in accordance with this Indenture; <U>provided</U>
that upon release or discharge of any Restricted Subsidiary of the Company from its Note Guarantee in accordance with this Indenture,
such Restricted Subsidiary shall cease to be a Guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Guarantor
Subordinated Obligation</U></FONT>&rdquo; means, with respect to a Guarantor, any Indebtedness of such Guarantor (whether outstanding
on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Guarantor under
its Note Guarantee pursuant to a written agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Hedging
Obligations</U></FONT>&rdquo; of any Person means the obligations of such Person pursuant to any Interest Rate Agreement, Currency Agreement
or Commodity Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Holder</U></FONT>&rdquo;
means a Person in whose name a Note is registered on the Registrar&rsquo;s books.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>IFRS</U></FONT>&rdquo;
means the International Financial Reporting Standards as issued by the International Accounting Standards Board as in effect from time
to time. All ratios and computations based on IFRS contained in this Indenture shall be computed in conformity with IFRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Immaterial
Subsidiary</U></FONT>&rdquo; means, at any date of determination, any Restricted Subsidiary that does not carry on any business (other
than, with respect to Ero Copper (US) Ltd., to supply staff who are U.S. residents to the Company) nor have assets or liabilities (other
than Ero Copper (US) Ltd. with respect to intercompany debt owed to the Company which it may incur up to $2,000,000 each fiscal year),
in each case exceeding $250,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Incur</U></FONT>&rdquo;
means issue, create, assume, Guarantee, incur or otherwise become liable for; <U>provided</U>, <U>however</U>, that any Indebtedness or
Capital Stock of a Person existing at the time such Person becomes a Restricted Subsidiary of the Company (whether by merger, consolidation,
amalgamation or arrangement, acquisition or otherwise) will be deemed to be Incurred by such Restricted Subsidiary at the time it becomes
a Restricted Subsidiary of the Company; and the terms &ldquo;<FONT STYLE="font-weight: normal"><U>Incurred</U></FONT>&rdquo; and &ldquo;<FONT STYLE="font-weight: normal"><U>Incurrence</U></FONT>&rdquo;
have meanings correlative to the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Indebtedness</U></FONT>&rdquo;
means, with respect to any Person on any date of determination (without duplication):</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the principal of and premium (if any) in respect of indebtedness of such Person for borrowed money;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the principal of and premium (if any) in respect of obligations of such Person evidenced by bonds, debentures, notes or other similar
instruments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the principal component of all obligations of such Person in respect of letters of credit, bankers&rsquo; acceptances or other
similar instruments (including reimbursement obligations with respect thereto except to the extent such reimbursement obligation relates
to a payable and such obligation is satisfied within 30 days of Incurrence);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the principal component of all obligations of such Person to pay the deferred and unpaid purchase price of property (including
earn-out obligations) that are recorded as liabilities under IFRS, and which purchase price is due after the date of placing such property
in service or taking delivery and title thereto, except (i) any such balance that constitutes a trade payable or similar obligation to
a trade creditor, in each case accrued in the ordinary course of business and (ii) any earn-out obligation until the amount of such obligation
becomes a liability on the balance sheet of such Person in accordance with IFRS;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Capitalized Lease Obligations of such Person (whether or not such items would appear on the balance sheet of the guarantor or obligor);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the principal component or liquidation preference of all obligations of such Person with respect to the redemption, repayment or
other repurchase of any Disqualified Stock or, with respect to any Non-Guarantor, any Preferred Stock (but excluding, in each case, any
accrued dividends);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the principal component of all Indebtedness of other Persons secured by a Lien on any asset of such Person, whether or not such
Indebtedness is assumed by such Person; <U>provided</U>, <U>however</U>, that the amount of such Indebtedness will be the lesser of (a)
the Fair Market Value of such asset at such date of determination and (b) the amount of such Indebtedness of such other Persons;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the principal component of Indebtedness of other Persons to the extent Guaranteed by such Person (whether or not such items would
appear on the balance sheet of the guarantor or obligor);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to the extent not otherwise included in this definition, net obligations of such Person under Hedging Obligations (the amount of
any such obligations to be equal at any time to the termination value of such agreement or arrangement giving rise to such Obligation
that would be payable by such Person at such time); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to the extent not otherwise included in this definition, the amount of obligations outstanding under the legal documents entered
into as part of a securitization transaction or series of securitization transactions that would be characterized as principal if such
transaction were structured as a secured lending transaction rather than as a purchase outstanding relating to a securitization transaction
or series of securitization transactions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Notwithstanding the foregoing:
(i) money borrowed and set aside at the time of the Incurrence of any Indebtedness in order to pre-fund the payment of interest on such
Indebtedness shall not be deemed to be &ldquo;Indebtedness&rdquo;; <U>provided</U> that such money is held to secure the payment of such
interest; (ii) obligations in respect of royalty or precious metals stream or similar transactions shall not be deemed to be &ldquo;Indebtedness&rdquo;;
(iii) in connection with the purchase by the Company or any of its Restricted Subsidiaries of any business, the term &ldquo;Indebtedness&rdquo;
will exclude post-closing payment adjustments or earn-out or similar obligations to which the seller may become entitled to the extent
such payment is determined by a final closing balance sheet or such payment depends on the performance of such business after the closing;
<U>provided</U>, <U>however</U>, that at the time of closing, the amount of any such payment is not determinable and, to the extent such
payment thereafter becomes fixed and determined, the amount is paid within 30 days thereafter; and (iv) &ldquo;Indebtedness&rdquo; shall
be calculated without giving effect to any increase or decrease in Indebtedness for any purpose under this Indenture as a result of accounting
for any embedded derivatives created by the terms of such Indebtedness. For the avoidance of doubt, Reclamation Obligations are not and
will not be deemed to be Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">In addition, &ldquo;Indebtedness&rdquo;
of the Company and its Restricted Subsidiaries shall include (without duplication) Indebtedness described in clauses&nbsp;(1) through
(10) above that would not appear as a liability on the balance sheet of the Company and its Restricted Subsidiaries if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Indebtedness is the obligation of a partnership or joint venture that is not a Subsidiary of the Company (a &ldquo;<FONT STYLE="font-weight: normal"><U>Joint
Venture</U></FONT>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company or any of its Restricted Subsidiaries is a general partner of the Joint Venture (a &ldquo;<FONT STYLE="font-weight: normal"><U>General
Partner</U></FONT>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>there is recourse, by contract or operation of law, with respect to the payment of such Indebtedness to property or assets of the
Company or any of its Restricted Subsidiaries; and then such Indebtedness shall be included in an amount not to exceed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the lesser of (i) the net assets of the General Partner and (ii) the amount of such obligations to the extent that there is recourse,
by contract or operation of law, to the property or assets of the Company or any of its Restricted Subsidiaries; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if less than the amount determined pursuant to clause&nbsp;(a) immediately above, the actual amount of such Indebtedness that is
recourse to the Company or any of its Restricted Subsidiaries, if the Indebtedness is evidenced by a writing and is for a determinable
amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Indenture</U></FONT>&rdquo;
means this Indenture, as amended or supplemented from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Independent
Financial Advisor</U></FONT>&rdquo; means an accounting, appraisal, investment banking firm or consultant to Persons engaged in Similar
Businesses of nationally recognized standing that is, in the good faith judgment of the Company, qualified to perform the task for which
it has been engaged.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Initial
Notes</U></FONT>&rdquo; has the meaning set forth in the recitals hereto.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Initial
Purchasers</U></FONT>&rdquo; means Goldman Sachs &amp; Co. LLC, Jefferies LLC, BMO Capital Markets Corp. and Canaccord Genuity Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>interest</U></FONT>&rdquo;
with respect to the Notes means interest with respect thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Interest
Payment Date</U></FONT>&rdquo; means February 15 and August 15 of each year to stated maturity of the Notes commencing on August 15, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Interest
Rate Agreement</U></FONT>&rdquo; means, with respect to any Person, any interest rate protection agreement, interest rate future agreement,
interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate
hedge agreement or other similar agreement or arrangement as to which such Person is party or a beneficiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Investment</U></FONT>&rdquo;
means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form of any direct or
indirect advance, loan (other than advances or extensions of credit to customers, suppliers or vendors in the ordinary course of business)
or other extensions of credit (including by way of Guarantee or similar arrangement, but excluding any debt or extension of credit represented
by a bank deposit (other than a time deposit)) or capital contribution to (by means of any transfer of cash or other property to others
or any payment for property or services for the account or use of others), or any purchase or acquisition of Capital Stock, Indebtedness
or other similar instruments issued by, such Person and all other items that are or would be classified as investments on a balance sheet
prepared in accordance with IFRS; <U>provided</U> that none of the following will be deemed to be an Investment:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Hedging Obligations entered into in the ordinary course of business and in compliance with this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>endorsements of negotiable instruments and documents in the ordinary course of business; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>an acquisition of assets, Capital Stock or other securities by the Company or a Subsidiary for consideration to the extent such
consideration consists of Common Stock of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0in">For purposes of <U>Section&nbsp;4.07</U>,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<FONT STYLE="font-weight: normal"><U>Investment</U></FONT>&rdquo; will include the portion (proportionate to the Company&rsquo;s
equity interest in a Restricted Subsidiary of the Company that is to be designated an Unrestricted Subsidiary) of the Fair Market Value
of the net assets of such Restricted Subsidiary at the time that such Restricted Subsidiary is designated an Unrestricted Subsidiary;
<U>provided</U>, <U>however</U>, that upon a redesignation of such Subsidiary as a Restricted Subsidiary of the Company, the Company will
be deemed to continue to have a permanent &ldquo;Investment&rdquo; in an Unrestricted Subsidiary in an amount (if positive) equal to (a)
the Company&rsquo;s aggregate &ldquo;Investment&rdquo; in such Subsidiary as of the time of such redesignation less (b) the portion (proportionate
to the Company&rsquo;s equity interest in such Subsidiary) of the Fair Market Value of the net assets of such Subsidiary at the time that
such Subsidiary is so redesignated a Restricted Subsidiary of the Company;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any property transferred to or from an Unrestricted Subsidiary will be valued at its Fair Market Value at the time of such transfer;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the Company or any of its Restricted Subsidiaries sells or otherwise disposes of any Voting Stock of any Restricted Subsidiary
of the Company such that, after giving effect to any such sale or disposition, such entity is no longer a Subsidiary of the Company, the
Company shall be deemed to have made an Investment on the date of any such sale or disposition equal to the Fair Market Value of the Capital
Stock of such Subsidiary not sold or disposed of.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Investment
Grade Rating</U></FONT>&rdquo; means a rating equal to or higher than Baa3 (or the equivalent) by Moody&rsquo;s, BBB- (or the equivalent)
by S&amp;P and BBB- (or the equivalent) by Fitch, or any equivalent rating by any Rating Agency, in each case, with a stable or better
outlook.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Issue
Date</U></FONT>&rdquo; means February 2, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Leverage
Ratio</U></FONT>&rdquo; means, as of any date of determination with respect to any Person, the ratio of (1) Indebtedness of such Person
and its Restricted Subsidiaries as of such date of calculation (determined on a consolidated basis in accordance with IFRS) to (2) Consolidated
EBITDA of such Person for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination
for which financial statements prepared on a consolidated basis in accordance with IFRS are available. In the event that the Company or
any of its Restricted Subsidiaries Incurs or redeems any Indebtedness subsequent to the commencement of the period for which the Leverage
Ratio is being calculated but prior to the event for which the calculation of the Leverage Ratio is made, then the Leverage Ratio shall
be calculated giving pro forma effect to such Incurrence or redemption of Indebtedness as if the same had occurred at the beginning of
the applicable four fiscal quarter period. The Leverage Ratio shall be calculated in a manner consistent with the definition of &ldquo;Consolidated
Coverage Ratio,&rdquo; including any pro forma adjustments to Consolidated EBITDA as set forth therein (including for acquisitions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Lien</U></FONT>&rdquo;
means, with respect to any asset, any mortgage, lien (statutory or otherwise), pledge, hypothecation, deed of trust, deemed trust, charge,
security interest, preference, priority or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any
option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under
the Uniform Commercial Code (or equivalent statutes) of any jurisdiction; <U>provided</U> that in no event shall an operating lease be
deemed to constitute a Lien.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Limited
Guarantee</U></FONT>&rdquo; means a Guarantee by a Person organized other than in the United States and Canada, the amount of which is
limited in order to comply with applicable requirements of law in the jurisdiction of organization of the applicable Person with respect
to the enforceability of such Guarantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Moody&rsquo;s</U></FONT>&rdquo;
means Moody&rsquo;s Investors Service, Inc. and any successor to its rating agency business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Net
Available Cash</U></FONT>&rdquo; from an Asset Disposition means cash payments received (including any cash payments received by way of
deferred payment of principal pursuant to a note or</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">installment receivable or otherwise and net proceeds from the sale or other disposition
of any securities or other assets received as consideration, but only as and when received, but excluding any other consideration received
in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to the properties or assets that are the
subject of such Asset Disposition or received in any other non-cash form) therefrom, in each case net of:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all legal, accounting, investment banking, title and recording tax expenses, commissions and other fees and expenses Incurred,
and all Canadian and U.S. federal, state, provincial, municipal and local taxes, and all foreign taxes, required to be paid or accrued
as a liability under IFRS (after taking into account any available tax credits or deductions and any tax sharing agreements), as a consequence
of such Asset Disposition;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all payments made on any Indebtedness that is secured by any assets subject to such Asset Disposition, in accordance with the terms
of any Lien upon such assets, or which must by its terms, or in order to obtain a necessary consent to such Asset Disposition, or by applicable
law be repaid out of the proceeds from such Asset Disposition;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all distributions and other payments required to be made to minority interest holders in Subsidiaries or joint ventures as a result
of such Asset Disposition; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the deduction of appropriate amounts to be provided by the seller as a reserve, in accordance with IFRS, against any liabilities
associated with the assets disposed of in such Asset Disposition and retained by the Company or any of its Restricted Subsidiaries after
such Asset Disposition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Net
Cash Proceeds</U></FONT>,&rdquo; with respect to any issuance or sale of Capital Stock, means the cash proceeds of such issuance or sale,
net of attorneys&rsquo; fees, accountants&rsquo; fees, underwriters&rsquo; or placement agents&rsquo; fees, listing fees, discounts or
commissions and brokerage, consultant and other fees and charges actually incurred in connection with such issuance or sale and net of
taxes paid or payable as a result of such issuance or sale (after taking into account any available tax credit or deductions and any tax
sharing arrangements).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Non-Guarantor</U></FONT>&rdquo;
means any Restricted Subsidiary of the Company that is not a Guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Non-Recourse
Debt</U></FONT>&rdquo; means Indebtedness of a Person:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>as to which neither the Company nor any of its Restricted Subsidiaries (a) provides any Guarantee or credit support of any kind
(including any undertaking, Guarantee, indemnity, agreement or instrument that would constitute Indebtedness, but excluding any off-take
agreement), other than Indebtedness secured by Liens permitted by clause&nbsp;(24) of the definition of Permitted Liens, or (b) is directly
or indirectly liable (as a guarantor or otherwise), other than as a result of Indebtedness secured by Liens permitted by clause&nbsp;(24)
of the definition of Permitted Liens;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no default with respect to which would permit (upon notice, lapse of time or both) any holder of any other Indebtedness of the
Company or any of its Restricted Subsidiaries, other than Indebtedness secured by Liens permitted by clause&nbsp;(24) of the definition
of Permitted</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Liens, to declare a default under such other Indebtedness or cause the payment thereof to be accelerated or payable prior
to its Stated Maturity; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the explicit terms of which provide there is no recourse against any of the assets of the Company or its Restricted Subsidiaries,
other than in respect of Liens permitted by clause&nbsp;(24) of the definition of Permitted Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Note
Guarantee</U></FONT>&rdquo; means, individually, any Guarantee of payment of the Notes and the Company&rsquo;s other Obligations under
this Indenture by a Guarantor pursuant to the terms of this Indenture and any supplemental indenture hereto, and, collectively, all such
Guarantees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Notes</U></FONT>&rdquo;
means the Initial Notes and any note authenticated and delivered under this Indenture. For all purposes of this Indenture, the term &ldquo;Notes&rdquo;
shall also include any Additional Notes that may be issued under a supplemental indenture and notes to be issued or authenticated upon
transfer, replacement or exchange of Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>NX
Gold Stream</U></FONT>&rdquo; means the Precious Metals Purchase Agreement, dated as of June 29, 2021, among RGLD Gold AG, Ero Gold Corp.,
the Company and NX Gold S.A relating to gold production from the NX gold mine, located in Mato Grosso, Brazil, as such agreement may be
amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Obligations</U></FONT>&rdquo;
means any principal, interest (including any interest accruing subsequent to the filing of a petition in bankruptcy, reorganization or
similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim
under applicable Canadian or U.S. federal or state law or under any foreign law), other monetary obligations, penalties, fees, indemnifications,
reimbursements (including reimbursement obligations with respect to letters of credit and banker&rsquo;s acceptances), damages and other
liabilities, and Guarantees of payment of such principal, interest, penalties, fees, indemnifications, reimbursements, damages and other
liabilities, payable under the documentation governing any Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Offer
to Purchase</U></FONT>&rdquo; means an Asset Disposition Offer or a Change of Control Offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Offering
Memorandum</U></FONT>&rdquo; means the offering memorandum, dated January 26, 2022, relating to the sale of the Initial Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Officer</U></FONT>&rdquo;
means the Chairman of the Board, the Chief Executive Officer, the President, the Chief Financial Officer, any Vice President, the Treasurer
or the Secretary of the Company or, in the event that the Company is a partnership or a limited liability company that has no such officers,
a person duly authorized under applicable law by the general partner, managers, members or a similar body to act on behalf of the Company.
Officer of any Guarantor has a correlative meaning.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Officer&rsquo;s
Certificate</U></FONT>&rdquo; means a certificate signed by an Officer of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Official
Body</U></FONT>&rdquo; means any supra-national (such as the European Union and the European Central Bank), national, state, provincial
or municipal government or government of any political subdivision thereof, or any agency, authority, board, central bank, monetary authority,</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">commission, department or instrumentality thereof, or any court, tribunal, grand jury, mediator, arbitrator or referee, whether foreign
or domestic.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Opinion
of Counsel</U></FONT>&rdquo; means a written opinion from legal counsel who is acceptable to the Trustee. The counsel may be an employee
of, or counsel to, the Company or the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Parent</U></FONT>&rdquo;
means, with respect to any Person, any other Person of which such Person is a direct or indirect Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Pari
Passu Indebtedness</U></FONT>&rdquo; means Indebtedness that ranks equally in right of payment to the Notes, in the case of the Company,
or the Note Guarantees, in the case of any Guarantor (without giving effect to collateral arrangements).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Permitted
Investment</U></FONT>&rdquo; means an Investment by the Company or any of its Restricted Subsidiaries in:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a Restricted Subsidiary of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Investment by the Company or any of its Restricted Subsidiaries in a Person that is engaged in a Similar Business if as a result
of such Investment:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Person becomes a Restricted Subsidiary of the Company; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Person, in one transaction or a series of related transactions, is merged, amalgamated, arranged or consolidated with or into,
or transfers or conveys substantially all of its assets to, or is liquidated into, the Company or any of its Restricted Subsidiaries,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">and, in each case, any Investment held by such
Person; <U>provided</U>, that such Investment was not acquired by such Person in contemplation of such acquisition, merger, consolidation,
amalgamation, arrangement or transfer;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>cash and Cash Equivalents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(a) endorsements for collection or deposit in the ordinary course of business and (b) receivables owing to the Company or any of
its Restricted Subsidiaries created or acquired in the ordinary course of business and payable or dischargeable in accordance with customary
trade terms; <U>provided</U>, <U>however</U>, that such trade terms may include such concessionary trade terms as the Company or any such
Restricted Subsidiary deems reasonable under the circumstances;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>payroll, travel, commission, entertainment, relocation and similar advances to cover matters that are expected at the time of such
advances ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>loans or advances to employees, Officers or directors of the Company or any of its Restricted Subsidiaries in the ordinary course
of business in an aggregate amount not in excess of $10.0 million with respect to all loans or advances made since the Issue Date (giving</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">effect to the repayment of any such loan, but without giving effect to the forgiveness of any such loan);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Investment acquired by the Company or any of any of its Restricted Subsidiaries:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in exchange for any other Investment or accounts receivable held by the Company or any such Restricted Subsidiary in connection
with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable
or in satisfaction of judgments or otherwise in resolution or compromise of litigation, arbitration or disputes; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>as a result of a foreclosure by the Company or any of its Restricted Subsidiaries with respect to any secured Investment or other
transfer of title with respect to any secured Investment in default;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments made as a result of the receipt of non-cash consideration from an Asset Disposition that was made pursuant to and in
compliance with <U>Section&nbsp;4.10</U> or any other disposition of assets not constituting an Asset Disposition;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Investments
in existence on the Issue Date, or an Investment consisting of any extension, modification or renewal of any such Investment existing
on the Issue Date; <U>provided</U> that the amount of any such Investment may be increased in such extension, modification or renewal
only (a) as required by the terms of such Investment or (b) as otherwise permitted under this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Currency Agreements, Interest Rate Agreements, Commodity Agreements and related Hedging Obligations, which transactions or obligations
are Incurred in compliance with <U>Section&nbsp;4.09</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(11)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Guarantees issued in accordance with <U>Section&nbsp;4.09</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(12)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments made in connection with the funding of contributions under any non-qualified retirement plan or similar employee compensation
plan in an amount not to exceed the amount of compensation expense recognized by the Company and its Restricted Subsidiaries in connection
with such plans;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(13)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments consisting of the licensing or contribution of intellectual property pursuant to joint marketing arrangements with
other Persons;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(14)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Similar
Business Investments in an aggregate amount at the time of such Investment not to exceed the greater of (x) $150.0 million and (y) 16.0%
of Total Assets, at any one time outstanding (in each case, with the Fair Market Value of such Investment being measured at the time
made and without giving effect to subsequent changes in value);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(15)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any purchases of Notes; and</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(16)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments by the Company or any of its Restricted Subsidiaries, together with all other Investments pursuant to this clause&nbsp;(16),
in an aggregate amount at the time of such Investment not to exceed the greater of (x) $150.0 million and (y) 16.0% of Total Assets, at
any one time outstanding (in each case, with the Fair Market Value of such Investment being measured at the time made and without giving
effect to subsequent changes in value).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Permitted
Liens</U></FONT>&rdquo; means, with respect to any Person:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing Indebtedness and other obligations permitted to be Incurred under clause&nbsp;(1) of <U>Section&nbsp;4.09(b)</U>
including interest, fees and other obligations relating thereto or for related banking services or cash management obligations and Liens
on assets of Restricted Subsidiaries of the Company securing Guarantees of such Indebtedness and such other obligations of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>pledges or deposits by such Person under workers&rsquo; compensation laws, unemployment insurance laws, pension laws or similar
legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases
to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or government
bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import or customs
duties or for the payment of rent, in each case Incurred in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens imposed by law, including carriers&rsquo;, warehousemen&rsquo;s, mechanics&rsquo;, materialmen&rsquo;s and repairmen&rsquo;s
Liens, Incurred in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens for taxes, assessments or other governmental charges not yet subject to penalties for non-payment or that are being contested
in good faith by appropriate proceedings provided appropriate reserves required pursuant to IFRS have been made in respect thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens in favor of issuers of surety or performance bonds or letters of credit or bankers&rsquo; acceptances or similar obligations
issued pursuant to the request of and for the account of such Person in the ordinary course of its business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>minor survey exceptions, encumbrances, ground leases, easements or reservations of, or rights of others for, licenses, rights of
way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning, building codes or other restrictions
(including, without limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real properties or
Liens incidental to the conduct of the business of such Person or to the ownership of its properties that do not in the aggregate materially
adversely affect the value of said properties or materially impair their use in the operation of the business of such Person;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing Hedging Obligations that are Incurred in the ordinary course of business (and not for speculative purposes) (including
the existing Hedging Obligations to the lenders and their respective Affiliates under the Senior Credit Facility);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>leases, licenses, subleases and sublicenses of assets (including, without limitation, real property and intellectual property rights)
that do not materially interfere with the ordinary conduct of the business of the Company or any of its Restricted Subsidiaries;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>judgment Liens not giving rise to an Event of Default so long as such Lien is adequately bonded and any appropriate legal proceedings
which may have been duly initiated for the review of such judgment have not been finally terminated or the period within which such proceedings
may be initiated has not expired;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens for the purpose of securing the payment of all or a part of the purchase price of, or Capitalized Lease Obligations, mortgage
financings, purchase money obligations or other payments Incurred to finance assets or property (other than Capital Stock or other Investments)
acquired, constructed, improved or leased in the ordinary course of business; <U>provided</U> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the aggregate principal amount of Indebtedness secured by such Liens is otherwise permitted to be Incurred under this Indenture
and does not exceed the cost of the assets or property so acquired, constructed or improved; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> such Liens are created within 365 days of construction, acquisition or improvement of such assets or property and do not encumber
any other assets or property of the Company or any of its Restricted Subsidiaries other than such assets or property and assets affixed
or appurtenant thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(11)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens arising solely by virtue of any statutory or common law provisions relating to Liens in favor of trustee and escrow agents,
banker&rsquo;s Liens, margin Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained
with a depository institution; <U>provided</U> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such deposit account is not a dedicated cash collateral account and is not subject to restrictions against access by the Company
in excess of those set forth by regulations promulgated by the U.S. Federal Reserve Board; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such deposit account is not intended by the Company or any of its Restricted Subsidiaries to provide collateral to the depository
institution;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(12)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens existing on the Issue Date (other than Liens permitted under clause&nbsp;(1) of this definition);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(13)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens on property or shares of stock of a Person at the time such Person becomes a Restricted Subsidiary of the Company; <U>provided</U>,
<U>however</U>, that such Liens are not created, Incurred or assumed in connection with, or in contemplation of, such other Person becoming
a Restricted Subsidiary of the Company; <U>provided</U>, <U>further</U>, <U>however</U>, that any such Lien may not extend to any other
property owned by the Company or any of its Restricted Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(14)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens on property at the time the Company or a Restricted Subsidiary of the Company acquired the property, including any acquisition
by means of a merger, amalgamation, arrangement or consolidation with or into the Company or any of its Restricted Subsidiaries; <U>provided</U>,
<U>however</U>, that such Liens are not created, Incurred or assumed in connection with, or in contemplation of, such acquisition; <U>provided
further</U>, <U>however</U>, that such Liens may not extend to any other property owned by the Company or any of its Restricted Subsidiaries;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(15)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing Indebtedness or other obligations of a Restricted Subsidiary of the Company owing to the Company or another Restricted
Subsidiary of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(16)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing the Notes and the Note Guarantees;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(17)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing Refinancing Indebtedness Incurred to refinance, refund, replace, amend, extend or modify, as a whole or in part,
Indebtedness that was previously so secured pursuant to clauses&nbsp;(10), (12), (13), (14), (16) and this clause&nbsp;(17) of this definition;
<U>provided</U> that any such Lien is limited to all or part of the same property or assets (plus improvements, accessions, proceeds or
dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could
secure) the Indebtedness being refinanced or is in respect of property that is the security for a Permitted Lien hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(18)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any interest or title of a lessor under any Capitalized Lease Obligation or operating lease;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(19)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens in favor of the Company or any of its Restricted Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(20)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens under industrial revenue, municipal or similar bonds;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(21)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(a) Liens incurred in the ordinary course of business not securing Indebtedness and not in the aggregate materially detracting
from the value of the properties of the Company and its Restricted Subsidiaries or the use of such properties in the operation of their
business and (b) Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered
into in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(22)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens on specific items of inventory or other goods and proceeds of any Person securing such Person&rsquo;s obligations in respect
of bankers&rsquo; acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such
inventory or other goods;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(23)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>deposits made in the ordinary course of business to secure liability to insurance carriers;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(24)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens on the Capital Stock or Indebtedness of an Unrestricted Subsidiary (or any other right, title or interest relating thereto,
including any right to receive interest on such Indebtedness or dividends or other distributions on Capital Stock, or any right, title
or interest in or to any agreements or instruments relating thereto, including under any related shareholder, limited partnership, loan
or security agreements) or on any assets of an Unrestricted Subsidiary; Liens on the Capital Stock or Indebtedness of a joint venture
securing Indebtedness of such joint venture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(25)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens on assets pursuant to merger, amalgamation or arrangement agreements, stock or asset purchase agreements and similar agreements
in respect of the disposition of such assets;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(26)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing Indebtedness (other than Subordinated Obligations and Guarantor Subordinated Obligations) in an aggregate principal
amount outstanding at any one time not to exceed the greater of (x) $150.0 million and (y) 24.0% of Total Assets;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(27)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the right reserved to or vested in any municipality or governmental or other public authority by the terms of any lease, licence,
franchise, grant or permit acquired by the Company or any Restricted Subsidiary or by any statutory provision, to terminate any such lease,
licence, franchise, grant or permit, or to require annual or other payments as a condition to the continuance thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(28)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens granted in connection with royalty or precious metals stream or similar transactions that are customary in the mining business
(as determined in the good faith by the Company), including, for the avoidance of doubt, Liens granted in connection with the NX Gold
Stream, and on minerals or the proceeds of sale of such minerals arising or granted pursuant to, or in respect of, a processing or refining
arrangement entered into in the ordinary course and upon usual market terms, securing the payment of the Company&rsquo;s or a Restricted
Subsidiary&rsquo;s portion of the fees, costs and expenses attributable to the processing or refining of such minerals under any such
processing or refining arrangement or other obligations of the Company or a Restricted Subsidiary under such arrangement, but only insofar
as such Liens relate to obligations which are at such time not past due;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(29)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing Obligations in respect of Cash Management Agreements in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(30)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>security given to a public utility or other Official Body (including for the reclamation or remediation of mining properties) in
connection with the operations of the Company or any Restricted Subsidiary, all in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(31)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the reservations, limitations, provisos and conditions, if any, expressed in any original patents or grants from any Official Body;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(32)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>servicing agreements, development agreements, site plan agreements, subdivision agreements and agreements with Official Bodies
pertaining to the use or development of any of the assets of the Company or a Restricted Subsidiary, provided same are complied with and
do not reduce the value of the assets of the Company or such Restricted Subsidiary or materially interfere with the use of such assets
in the operation of the business of the Company or a Restricted Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Person</U></FONT>&rdquo;
means any individual, corporation, limited liability company, partnership, joint venture, association, joint stock company, trust, unincorporated
organization, government or any agency or political subdivision thereof or any other entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Preferred
Stock</U></FONT>,&rdquo; as applied to the Capital Stock of any corporation, means Capital Stock of any class or classes (however designated)
that is preferred as to the payment of dividends upon liquidation, dissolution or winding up.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Rating
Agency</U></FONT>&rdquo; means each of S&amp;P, Moody&rsquo;s and Fitch or, if any of S&amp;P, Moody&rsquo;s or Fitch or none of them
shall make a rating on the Notes publicly available, a nationally recognized</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">statistical rating agency or agencies, as the case may be,
selected by the Company (as certified by a resolution of the Board of Directors) which shall be substituted for S&amp;P, Moody&rsquo;s
or Fitch or all of them, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Rating
Category</U></FONT>&rdquo; means,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to S&amp;P, any of the following categories: AAA, AA, A, BBB, BB, B, CCC, CC, C and D (or equivalent successor categories);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to Moody&rsquo;s, any of the following categories: Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C and D (or equivalent successor
categories); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to Fitch, any of the following categories: AAA, AA, A, BBB, BB, B, CCC, CC, C and D (or equivalent successor categories).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Rating
Decline</U></FONT>&rdquo; means the occurrence of a decrease in the rating of the Notes by one or more gradations by, if three Rating
Agencies have made a rating of the Notes publicly available at such time, at least two of the Rating Agencies, or otherwise at least one
of the Rating Agencies (including gradations within the Rating Categories, as well as between Rating Categories) on, or within 90 days
following, the earlier of (x) the occurrence of a Change of Control or (y) the date of public announcement of the occurrence of a Change
of Control or of the intention by the Company to effect a Change of Control, which period shall be extended for a period not longer than
30 days so long as the rating of the Notes relating to the Change of Control is under publicly announced consideration for downgrade by
the applicable Rating Agency; provided, however, that a downgrade of the Notes by an applicable Rating Agency shall not be deemed to have
occurred in respect of a particular Change of Control (and thus shall not be deemed a downgrade for purposes of this definition of Rating
Decline) if such Rating Agency making the downgrade in rating does not publicly announce or confirm or inform the Company or the Trustee
in writing at the request of the Company that the downgrade is a result of the transactions constituting or occurring simultaneously with
the applicable Change of Control (whether or not the applicable Change of Control has occurred at the time of such downgrade).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">In determining whether the
rating of the Notes has decreased by one or more gradations, gradations within Rating Categories, namely + or - for S&amp;P, 1, 2 and
3 for Moody&rsquo;s and + or - for Fitch, will be taken into account; for example, in the case of S&amp;P, a rating decline either from
BB+ to BB or BB- to B+ will constitute a decrease of one gradation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Receivable</U></FONT>&rdquo;
means a right to receive payment arising from a sale or lease of goods or the performance of services by a Person pursuant to an arrangement
with another Person pursuant to which such other Person is obligated to pay for goods or services under terms that permit the purchase
of such goods and services on credit and shall include, in any event, any items of property that would be classified as an &ldquo;account,&rdquo;
&ldquo;chattel paper,&rdquo; &ldquo;payment intangible&rdquo; or &ldquo;instrument&rdquo; under the Uniform Commercial Code as in effect
in the State of New York and any &ldquo;supporting obligations&rdquo; as so defined.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Receivables
Fees</U></FONT>&rdquo; means any fees or interest paid to purchasers or lenders providing the financing in connection with a securitization
transaction, factoring agreement or other similar agreement, including any such amounts paid by discounting the face amount of Receivables
or</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">participations therein transferred in connection with a securitization transaction, factoring agreement or other similar arrangement,
regardless of whether any such transaction is structured as on-balance sheet or off-balance sheet or through a Restricted Subsidiary of
the Company or an Unrestricted Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Reclamation
Obligations</U></FONT>&rdquo; means statutory, contractual, constructive or legal obligations, including the principal component of any
obligations in respect of letters of credit, bank guarantees, performance or surety bonds or other similar instruments, associated with
decommissioning of mining operations and reclamation and rehabilitation costs, including the cost of complying with applicable environmental
regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Record
Date</U></FONT>&rdquo; for the interest payable on any applicable Interest Payment Date means February 1 or August 1 (whether or not a
Business Day) preceding such Interest Payment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Refinancing
Indebtedness</U></FONT>&rdquo; means Indebtedness that is Incurred to refund, refinance, replace, exchange, renew, repay or extend (including
pursuant to any defeasance or discharge mechanism) (collectively, &ldquo;<FONT STYLE="font-weight: normal"><U>refinance</U></FONT>,&rdquo;
&ldquo;<FONT STYLE="font-weight: normal"><U>refinances</U></FONT>&rdquo; and &ldquo;<FONT STYLE="font-weight: normal"><U>refinanced</U></FONT>&rdquo;
shall each have a correlative meaning) any Indebtedness existing on the Issue Date or Incurred in compliance with this Indenture (including
Indebtedness of the Company that refinances Indebtedness of any of its Restricted Subsidiaries and Indebtedness of any of its Restricted
Subsidiaries that refinances Indebtedness of another Restricted Subsidiary of the Company) including Indebtedness that refinances Refinancing
Indebtedness; <U>provided</U>, <U>however</U>, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(a) if the Stated Maturity of the Indebtedness being refinanced is earlier than the Stated Maturity of the Notes, the Refinancing
Indebtedness has a Stated Maturity no earlier than the Stated Maturity of the Indebtedness being refinanced or (b) if the Stated Maturity
of the Indebtedness being refinanced is later than the Stated Maturity of the Notes, the Refinancing Indebtedness has a Stated Maturity
at least 91 days later than the Stated Maturity of the Notes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Refinancing Indebtedness has an Average Life at the time such Refinancing Indebtedness is Incurred that is equal to or greater
than the Average Life of the Indebtedness being refinanced;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Refinancing Indebtedness is Incurred in an aggregate principal amount (or if issued with original issue discount, an aggregate
issue price) that is equal to or less than the sum of the aggregate principal amount (or if issued with original issue discount, the aggregate
accreted value) then outstanding of the Indebtedness being refinanced (plus, without duplication, any additional Indebtedness Incurred
to pay interest or premiums required by the instruments governing such existing Indebtedness and fees and expenses (including any costs
of defeasance) Incurred in connection therewith);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the Indebtedness being refinanced is subordinated in right of payment to the Notes or the Note Guarantees, such Refinancing
Indebtedness is subordinated in right of payment to the Notes or the Note Guarantees on terms at least as favorable to the Holders as
those contained in the documentation governing the Indebtedness being refinanced; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Refinancing Indebtedness shall not include Indebtedness of a Non-Guarantor that refinances Indebtedness of the Company or a Guarantor.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Responsible
Officer</U></FONT>&rdquo; means with respect to the Trustee, any officer assigned to the Corporate Trust Office of the Trustee customarily
performing functions similar to those performed by persons having direct responsibility for the administration of this Indenture, and
also, with respect to a particular matter, any other officer, to whom such matter is referred because of such officer&rsquo;s knowledge
of and familiarity with the particular subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Restricted
Investment</U></FONT>&rdquo; means any Investment other than a Permitted Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Restricted
Subsidiary</U></FONT>&rdquo; of a Person means any Subsidiary of the referent Person (or if no such Person is specified, the Company)
that is not an Unrestricted Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>S&amp;P</U></FONT>&rdquo;
means Standard &amp; Poor&rsquo;s Rating Services and any successor to its rating agency business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>SEC</U></FONT>&rdquo;
means the U.S. Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Secured
Indebtedness</U></FONT>&rdquo; means any Indebtedness of the Company or any of its Restricted Subsidiaries secured by a Lien on assets
of the Company or such Restricted Subsidiary, excluding Capital Stock or Indebtedness of an Unrestricted Subsidiary or any right, title
or interests relating thereto, including any rights under any relevant shareholder, voting trust, joint venture or other agreement or
instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Securities
Act</U></FONT>&rdquo; means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Senior
Credit Facility</U></FONT>&rdquo; means the amended and restated credit agreement, dated as of December 13, 2018 (as amended by a first
amending agreement dated as of January 21, 2019, a second amending agreement dated as of March 12, 2019, a third amending agreement dated
as of June 26, 2019, a fourth amending agreement dated as of March 31, 2020, a fifth amending agreement dated May 29, 2020, a sixth amending
agreement dated March 16, 2021, and a seventh amending agreement dated as of January 21, 2022), among the Company, as Borrower, The Bank
of Nova Scotia, as Administrative Agent, and the lenders party thereto, as the same may be amended, restated, modified, renewed, refunded,
replaced or refinanced in whole or in part from time to time (including replacing the borrower or increasing the amount loaned thereunder;
<U>provided</U> that such additional Indebtedness is Incurred in accordance with this Indenture).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Senior
Management</U></FONT>&rdquo; means the chief executive officer and the chief financial officer of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Significant
Subsidiary</U></FONT>&rdquo; means any Restricted Subsidiary of the Company that would be a &ldquo;<FONT STYLE="font-weight: normal"><U>Significant
Subsidiary</U></FONT>&rdquo; of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC, determined as
of the date of the latest audited consolidated financial statements of the Company and its Restricted Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Similar
Business</U></FONT>&rdquo; means any business conducted or proposed to be conducted by the Company and its Restricted Subsidiaries on
the Issue Date or any other business that is similar, reasonably related, incidental or ancillary thereto.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Similar
Business Investments</U></FONT>&rdquo; means Investments made in (1) the ordinary course of, or of a nature that are customary in, the
mining business as a means of exploiting, exploring for, acquiring, developing, processing, gathering, producing, transporting or marketing
gold, copper or other precious or base metals used, useful or created in the mining business, including through agreements, acquisitions,
transactions, interests or arrangements which permit one to share (or have the effect of sharing) risks or costs, comply with regulatory
requirements regarding ownership or satisfy other customary objectives in the mining business, and in any event including, without limitation,
Investments made in connection with or in the form of (i) direct or indirect ownership interests in mining properties, gathering or upgrading
systems or facilities and (ii) operating agreements, development agreements, area of mutual interest agreements, pooling agreements, service
contracts, joint venture agreements, partnership or limited liability company agreements (whether general or limited), or other similar
or customary agreements, transactions, properties, interests or arrangements, and Investments and expenditures in connection therewith
or pursuant thereto; and (2) Persons engaged in a Similar Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Stated
Maturity</U></FONT>&rdquo; means, with respect to any security, the date specified in the agreement governing or certificate relating
to such Indebtedness as the fixed date on which the final payment of principal of such security is due and payable, including pursuant
to any mandatory redemption provision, but not including any contingent obligations to repay, redeem or repurchase any such principal
prior to the date originally scheduled for the payment thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Subordinated
Obligation</U></FONT>&rdquo; means any Indebtedness of the Company (whether outstanding on the Issue Date or thereafter Incurred) that
is subordinated or junior in right of payment to the Notes pursuant to a written agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Subsidiary</U></FONT>&rdquo;
of any Person means (1) any corporation, association or other business entity (other than a partnership, joint venture, limited liability
company or similar entity) of which more than 50% of the total ordinary voting power of shares of Capital Stock entitled (without regard
to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof (or Persons performing similar
functions) or (2) any partnership, joint venture limited liability company or similar entity of which more than 50% of the capital accounts,
distribution rights, total equity and voting interests or general or limited partnership interests, as applicable, is, in the case of
clauses&nbsp;(1) and (2), at the time owned or controlled, directly or indirectly, by (a) such Person, (b) such Person and one or more
Subsidiaries of such Person or (c) one or more Subsidiaries of such Person. Unless otherwise specified herein, each reference to a Subsidiary
will refer to a Subsidiary of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Tax
Act</U></FONT>&rdquo; means the Income Tax Act (Canada), as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Total
Assets</U></FONT>&rdquo; means the total consolidated assets of the Company and its Restricted Subsidiaries on a consolidated basis determined
in accordance with IFRS, as shown on the most recent consolidated balance sheet of the Company; <U>provided</U> that, for purposes of
calculating &ldquo;Total Assets&rdquo; for purposes of testing the covenants under this Indenture in connection with any transaction,
the total consolidated assets of the Company and its Restricted Subsidiaries shall be adjusted to reflect any acquisitions and dispositions
of assets that have occurred during the period from the date of the applicable balance sheet through the applicable date of determination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 00in">&nbsp;</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Transfer
Restricted Notes</U></FONT>&rdquo; means Definitive Notes and any other Notes that bear or are required to bear the Restricted Notes Legend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Treasury
Rate</U></FONT>&rdquo; means as of any date of redemption of Notes the yield to maturity at the time of computation of United States Treasury
securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that
has become publicly available at least two Business Days prior to the redemption date (or, if such Statistical Release is no longer published,
any publicly available source or similar market data)) most nearly equal to the period from the redemption date to February 15, 2025;
<U>provided</U>, <U>however</U>, that if the period from the redemption date to February 15, 2025 is not equal to the constant maturity
of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation
(calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields
are given, except that if the period from the redemption date to February 15, 2025 is less than one year, the weekly average yield on
actually traded United States Treasury securities adjusted to a constant maturity of one year will be used.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Trust
Indenture Act</U></FONT>&rdquo; means the Trust Indenture Act of 1939, as amended (15 U.S.C. &sect;&sect; 77aaa-777bbbb).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Trustee</U></FONT>&rdquo;
means Computershare Trust Company, N.A., a national association, as trustee, until a successor replaces it in accordance with the applicable
provisions of this Indenture and thereafter means the successor serving hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Unrestricted
Subsidiary</U></FONT>&rdquo; means:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Subsidiary of the Company which at the time of determination shall be designated an Unrestricted Subsidiary by the Board of
Directors of the Company in the manner provided below; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Subsidiary of an Unrestricted Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The Board of Directors of
the Company may designate any Subsidiary of the Company (including any newly acquired or newly formed Subsidiary or a Person becoming
a Subsidiary through merger, consolidation, amalgamation, arrangement or Investment therein) to be an Unrestricted Subsidiary only if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Subsidiary or any of its Subsidiaries does not own any Capital Stock or Indebtedness of or have any Investment in, or own
or hold any Lien on any property of, any other Subsidiary of the Company that is not a Subsidiary of the Subsidiary to be so designated
or otherwise an Unrestricted Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Subsidiary has no Indebtedness other than Non-Recourse Debt;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such designation and the Investment of the Company in such Subsidiary complies with <U>Section&nbsp;4.07</U>;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Subsidiary, either alone or in the aggregate with all other Unrestricted Subsidiaries, does not operate, directly or indirectly,
all or substantially all of the business of the Company and its Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Subsidiary is a Person with respect to which neither the Company nor any of its Restricted Subsidiaries has any direct or
indirect obligation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to subscribe for additional Capital Stock of such Person; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to maintain or preserve such Person&rsquo;s financial condition or to cause such Person to achieve any specified levels of operating
results; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>on the date such Subsidiary is designated an Unrestricted Subsidiary, such Subsidiary is not a party to any agreement, contract,
arrangement or understanding with the Company or any of its Restricted Subsidiaries with terms substantially less favorable to the Company
than those that might have been obtained from Persons who are not Affiliates of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Any such designation by the
Board of Directors of the Company shall be evidenced to the Trustee by filing with the Trustee a resolution of the Board of Directors
of the Company giving effect to such designation and an Officer&rsquo;s Certificate certifying that such designation complies with the
foregoing conditions. If, at any time, any Unrestricted Subsidiary would fail to meet the foregoing requirements as an Unrestricted Subsidiary,
it shall thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture, and any Indebtedness of such Subsidiary shall
be deemed to be Incurred as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The Board of Directors of
the Company may designate any Unrestricted Subsidiary to be a Restricted Subsidiary of the Company; <U>provided</U> that immediately after
giving effect to such designation, no Default or Event of Default shall have occurred and be continuing or would occur as a consequence
thereof and the Company could Incur at least $1.00 of additional Indebtedness pursuant to <U>Section&nbsp;4.09(a)</U> on a <U>pro forma</U>
basis taking into account such designation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Voting
Stock</U></FONT>&rdquo; of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled to vote in
the election of directors, managers or trustees, as applicable, of such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<FONT STYLE="font-weight: normal"><U>Wholly
Owned Subsidiary</U></FONT>&rdquo; means a Restricted Subsidiary of the Company, all of the Capital Stock of which (other than directors&rsquo;
qualifying shares) is owned by the Company or another Wholly Owned Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;1.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Other Definitions</U>.</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="border-bottom: Black 1pt solid; width: 79%">Term</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 20%; vertical-align: bottom">
    <P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">Defined in
    Section</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Acceptable Commitment</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.10(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Additional Amounts</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.13(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Agent Members</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(c) of Appendix A</TD></TR>
</TABLE>

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

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

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    <!-- Field: /Page -->

<P STYLE="margin: 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="border-bottom: Black 1pt solid">Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">Defined in
    Section</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 79%">&ldquo;<FONT STYLE="font-weight: normal">Affiliate Transaction</FONT>&rdquo;&#9;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 20%">4.11(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Applicable Procedures</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Asset Disposition Offer</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.10(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Asset Disposition Offer Amount</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">3.10(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Asset Disposition Offer Period</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">3.10(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Asset Disposition Purchase Date</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">3.10(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Authentication Order</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.02(c)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Canadian Restricted Legend</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.3(e) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Change of Control Offer</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.14(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Change of Control Payment</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.14(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Change of Control Payment Date</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.14(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Clearstream</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Covenant Defeasance</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">8.03</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Covenant Suspension Event</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.16(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Definitive Notes Legend</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.3(e) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Distribution Compliance Period</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Euroclear</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Event of Default</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">6.01(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Excess Proceeds</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.10(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Expiration Date</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.04(j)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Global Note</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(b) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Global Notes Legend</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.3(e) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">IAI</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">IAI Global Note</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(b) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Indemnified Tax</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.13(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Initial Default</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">6.04</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Legal Defeasance</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">8.02(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">MD&amp;A</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.03(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Note Register</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.03(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Paying Agent</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.03(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">payment default</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">6.01(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Payor</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.13(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">QIB</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Registrar</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.03(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Regulation S</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Regulation S Global Note</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(b) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Regulation S Notes</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Reinstatement Date</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.16(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Relevant Taxing Jurisdiction</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.13(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Restricted Payment</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.07(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Restricted Notes Legend</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.3(e) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Rule 144</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Rule 144A</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Rule 144A Global Note</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(b) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Rule 144A Notes</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(a) of Appendix A</TD></TR>
</TABLE>

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

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

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<P STYLE="margin: 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="border-bottom: Black 1pt solid">Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">Defined in
    Section</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 79%">&ldquo;<FONT STYLE="font-weight: normal">Second Commitment</FONT>&rdquo;&#9;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 20%">4.10(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Successor Company</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">5.01(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Successor Guarantor</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">5.01(c)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Suspended Covenants</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.16(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Suspension Date</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.16(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Suspension Period</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.16(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Taxes</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.13(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">Unrestricted Global Note</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;<FONT STYLE="font-weight: normal">U.S. person</FONT>&rdquo;&#9;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.1(a) of Appendix A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;1.03<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Rules of Construction</U>. Unless the context otherwise requires:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a term defined in <U>Section&nbsp;1.01</U> or <U>1.02</U> has the meaning assigned to it therein, and a term used herein that is
defined in the Trust Indenture Act, either directly or by reference therein, shall have the meaning assigned to it therein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>an accounting term not otherwise defined has the meaning assigned to it in accordance with IFRS;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;or&rdquo; is not exclusive;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>words in the singular include the plural, and words in the plural include the singular;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>provisions apply to successive events and transactions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>unless the context otherwise requires, any reference to an &ldquo;Appendix,&rdquo; &ldquo;Article,&rdquo; &ldquo;Section,&rdquo;
&ldquo;clause,&rdquo; &ldquo;Schedule&rdquo; or &ldquo;Exhibit&rdquo; refers to an Appendix, Article, Section, clause, Schedule or Exhibit,
as the case may be, of this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the words &ldquo;herein,&rdquo; &ldquo;hereof&rdquo; and other words of similar import refer to this Indenture as a whole and not
any particular Article, Section, clause or other subdivision;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the words &ldquo;including,&rdquo; &ldquo;includes&rdquo; and other words of similar import shall be deemed to be followed by &ldquo;without
limitation&rdquo;;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>references to sections of, or rules under, the Securities Act, the Exchange Act or the Trust Indenture Act shall be deemed to include
substitute, replacement or successor sections or rules adopted by the SEC from time to time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>unless otherwise provided, references to agreements and other instruments shall be deemed to include all amendments and other modifications
to such agreements or instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this
Indenture;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(11)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the event that a transaction meets the criteria of more than one category of permitted transactions or listed exceptions, the
Company may classify such transaction as it, in its sole discretion, determines; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(12)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>references to &ldquo;$&rdquo; are to U.S. dollars unless otherwise expressly provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;1.04<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Acts of Holders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or
taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in
person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such action shall become effective when
such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Company
and the Guarantors. Proof of execution of any such instrument or of a writing appointing any such agent, or the holding by any Person
of a Note, shall be sufficient for any purpose of this Indenture and (subject to <U>Section&nbsp;7.01</U>) conclusive in favor of the
Trustee, the Company and the Guarantors, if made in the manner provided in this <U>Section&nbsp;1.04</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The fact and date of the execution by any Person of any such instrument or writing may be proved (1) by the affidavit of a witness
of such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying
that the individual signing such instrument or writing acknowledged to him the execution thereof or (2) in any other manner deemed reasonably
sufficient by the Trustee. Where such execution is by or on behalf of any legal entity other than an individual, such certificate or affidavit
shall also constitute proof of the authority of the Person executing the same. The authority of the Person executing the same may also
be proved in any other manner deemed reasonably sufficient by the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The ownership of Notes shall be proved by the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Note shall bind every
future Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or
in lieu thereof, in respect of any action taken, suffered or omitted by the Trustee, the Company or the Guarantors in reliance thereon,
whether or not notation of such action is made upon such Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company may set a record date for purposes of determining the identity of Holders entitled to make, give or take any request,
demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, or to vote on any action
authorized or permitted to be taken by Holders; <U>provided</U> that the Company may not set a record date for, and the provisions of
this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred to in clause&nbsp;(f)
below. Unless otherwise specified, if not set by the Company prior to the first solicitation of a Holder made by any Person in respect
of any such action, or in the case of any such vote, prior to such vote, any such record date shall be the later of 30 days prior to the
first solicitation of such consent or vote or the date of the most recent list of Holders furnished to the Trustee prior to such solicitation
or vote. If any</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">record date is set pursuant to this clause&nbsp;(e), the Holders on such record date, and only such Holders, shall be
entitled to make, give or take such request, demand, authorization, direction, notice, consent, waiver or other action (including revocation
of any action), whether or not such Holders remain Holders after such record date; <U>provided</U> that no such action shall be effective
hereunder unless made, given or taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Notes,
or each affected Holder, as applicable, on such record date. Promptly after any record date is set pursuant to this paragraph, the Company,
at its own expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given
to the Trustee in writing and to each Holder in the manner set forth in <U>Section&nbsp;12.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee may set any day as a record date for the purpose of determining the Holders entitled to join in the giving or making
of (1) any notice of default under <U>Section&nbsp;6.01(a)</U>, (2) any declaration of acceleration referred to in <U>Section&nbsp;6.02</U>,
(3) any direction referred to in <U>Section&nbsp;6.05</U> or (4) any request to pursue a remedy referred to in <U>Section&nbsp;6.06(2)</U>.
If any record date is set pursuant to this paragraph, the Holders on such record date, and no other Holders, shall be entitled to join
in such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; <U>provided</U>
that no such action shall be effective hereunder unless made, given or taken on or prior to the applicable Expiration Date by Holders
of the requisite principal amount of Notes or each affected Holder, as applicable, on such record date. Promptly after any record date
is set pursuant to this paragraph, the Trustee, at the Company&rsquo;s expense, shall cause notice of such record date, the proposed action
by Holders and the applicable Expiration Date to be given to the Company and to each Holder in the manner set forth in <U>Section&nbsp;12.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Without limiting the foregoing, a Holder entitled to take any action hereunder with regard to any particular Note may do so with
regard to all or any part of the principal amount of such Note or by one or more duly appointed agents, each of which may do so pursuant
to such appointment with regard to all or any part of such principal amount. Any notice given or action taken by a Holder or its agents
with regard to different parts of such principal amount pursuant to this paragraph shall have the same effect as if given or taken by
separate Holders of each such different part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Without limiting the generality of the foregoing, a Holder, including a Depositary that is the Holder of a Global Note, may make,
give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver
or other action provided in this Indenture to be made, given or taken by Holders, and a Depositary that is the Holder of a Global Note
may provide its proxy or proxies to the beneficial owners of interests in any such Global Note through such Depositary&rsquo;s standing
instructions and customary practices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company may fix a record date for the purpose of determining the Persons who are beneficial owners of interests in any Global
Note held by a Depositary entitled under the procedures of such Depositary, if any, to make, give or take, by a proxy or proxies duly
appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture
to be made, given or taken by Holders; <U>provided</U> that if such a record date is fixed, only the beneficial owners of interests in
such Global Note on such record</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">date or their duly appointed proxy or proxies shall be entitled to make, give or take such request, demand,
authorization, direction, notice, consent, waiver or other action, whether or not such beneficial owners remain beneficial owners of interests
in such Global Note after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other action
shall be effective hereunder unless made, given or taken on or prior to the applicable Expiration Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>With respect to any record date set pursuant to this <U>Section&nbsp;1.04</U>, the party hereto that sets such record date may
designate any day as the &ldquo;<FONT STYLE="font-weight: normal"><U>Expiration Date</U></FONT>&rdquo; and from time to time may change
the Expiration Date to any earlier or later day; <U>provided</U> that no such change shall be effective unless notice of the proposed
new Expiration Date is given to the other party hereto in writing, and to each Holder of Notes in the manner set forth in <U>Section&nbsp;12.01</U>,
on or prior to both the existing and the new Expiration Date. If an Expiration Date is not designated with respect to any record date
set pursuant to this <U>Section&nbsp;1.04</U>, the party hereto which set such record date shall be deemed to have initially designated
the 90th day after such record date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date as
provided in this clause&nbsp;(j).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
2<BR>
<BR>
THE NOTES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Form and Dating; Terms</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Provisions relating to the Initial Notes, Additional Notes and any other Notes issued under this Indenture are set forth in <U>Appendix&nbsp;A</U>
hereto, which is hereby incorporated in and expressly made a part of this Indenture. The Notes and the Trustee&rsquo;s certificate of
authentication shall each be substantially in the form of <U>Exhibit&nbsp;A</U> hereto, which is hereby incorporated in and expressly
made a part of this Indenture. The Notes may have notations, legends or endorsements required by law, rules or agreements with national
securities exchanges to which the Company or any Guarantor is subject, if any, or usage (<U>provided</U> that any such notation, legend
or endorsement is in a form acceptable to the Company but which notation, legend or endorsement does not affect the rights, duties or
obligations of the Trustee). Each Note shall be dated the date of its authentication. The Notes shall be in denominations of $2,000 and
integral multiples of $1,000 in excess thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is unlimited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The terms and provisions
contained in the Notes shall constitute, and are hereby expressly made, a part of this Indenture, and the Company, the Guarantors and
the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby.
However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture
shall govern and be controlling.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">The Notes shall be subject
to repurchase by the Company pursuant to an Asset Disposition Offer as provided in <U>Section&nbsp;4.10</U> or a Change of Control Offer
as provided in <U>Section&nbsp;4.14</U>, and otherwise as not prohibited by this Indenture. The Notes shall not be redeemable other than
as provided in <U>Article&nbsp;3</U>.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Additional Notes ranking
<U>pari passu</U> with the Initial Notes may be created and issued from time to time by the Company without notice to or consent of the
Holders and shall be consolidated with and form a single class with the Initial Notes and shall have the same terms as to status, redemption
or otherwise (other than issue date, issue price and, if applicable, the first interest payment date and the initial interest accrual
date) as the Initial Notes; <U>provided</U> that the Company&rsquo;s ability to issue Additional Notes shall be subject to the Company&rsquo;s
compliance with <U>Section&nbsp;4.09</U>. Any Additional Notes shall be issued with the benefit of an indenture supplemental to this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">In authenticating and delivering
the Initial Notes, Additional Notes and any other Notes issued pursuant to this Indenture, the Trustee shall receive and shall be fully
protected in conclusively relying upon, in addition to the Opinion of Counsel and Officer&rsquo;s Certificate required by <U>Section&nbsp;12.03</U>,
an Opinion of Counsel (i) as to the due authorization, execution, delivery, validity and enforceability of such Notes, (ii) stating that
the form and terms of such Notes have been established by a supplemental indenture and pursuant to a resolution of the Board of Directors
of the Company in conformity with the provisions of this Indenture and (iii) stating that all laws and requirements in respect of the
execution and delivery by the Company of such Notes have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Execution and Authentication</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>At least one Officer shall execute the Notes on behalf of the Company by manual, electronic or facsimile signature. If an Officer
whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note shall nevertheless be valid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A Note shall not be entitled to any benefit under this Indenture or be valid or obligatory for any purpose until authenticated
substantially in the form of <U>Exhibit&nbsp;A</U> attached hereto by the manual signature of an authorized signatory of the Trustee.
The signature shall be conclusive evidence that the Note has been duly authenticated and delivered under this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>On the Issue Date, the Trustee shall, upon receipt of a written order of the Company signed by an Officer (an &ldquo;<FONT STYLE="font-weight: normal"><U>Authentication
Order</U></FONT>&rdquo;) and together with an Opinion of Counsel and Officer&rsquo;s Certificate reasonably acceptable to the Trustee,
authenticate and deliver the Initial Notes. The Trustee shall be fully protected and shall incur no liability for failing to take any
action with respect to the delivery of any Notes unless and until it has received such Authentication Order, Opinion of Counsel and Officer&rsquo;s
Certificate. In addition, at any time and from time to time, the Trustee shall, upon receipt of an Authentication Order, authenticate
and deliver any Definitive Notes to be issued in exchange for interests in Global Notes, any Additional Notes, any replacement Notes to
be issued pursuant to <U>Section&nbsp;2.07</U> or any Notes issuable following a redemption or repurchase by the Company pursuant to the
terms of this Indenture in an aggregate principal amount specified in such Authentication Order for such Notes issued hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. An authenticating agent may authenticate
Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">authentication by such
agent. An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.03<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Registrar and Paying Agent</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall maintain an office or agency where Notes may be presented for registration of transfer or for exchange (&ldquo;<FONT STYLE="font-weight: normal"><U>Registrar</U></FONT>&rdquo;)
and at least one office or agency where Notes may be presented for payment (&ldquo;<FONT STYLE="font-weight: normal"><U>Paying Agent</U></FONT>&rdquo;).
The Registrar shall keep a register of the Notes and of their transfer and exchange (&ldquo;<FONT STYLE="font-weight: normal"><U>Note
Register</U></FONT>&rdquo;). The Company may appoint one or more co-registrars and one or more additional paying agents. The term &ldquo;Registrar&rdquo;
includes any co-registrar, and the term &ldquo;Paying Agent&rdquo; includes any additional paying agent. The Company may change any Paying
Agent or Registrar without prior notice to any Holder; <U>provided</U>, <U>however</U>, that no such removal shall become effective until
(i) acceptance of an appointment by a successor as evidenced by an appropriate agreement entered into by the Company and such successor
Registrar or Paying Agent, as the case may be, and delivered to the Trustee and the passage of any waiting or notice periods required
by the Depositary&rsquo;s procedures or (ii) written notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent
until the appointment of a successor in accordance with clause&nbsp;(i) above. The Company shall enter into an appropriate agency agreement
with any Registrar or Paying Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that
relate to such Agent. The Company shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture.
If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such and shall be entitled
to appropriate compensation therefor pursuant to <U>Section&nbsp;7.07</U>. The Company or any Wholly Owned Subsidiary incorporated or
organized within the United States of America may act as Paying Agent (except for purposes of Article&nbsp;8) or Registrar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company initially appoints DTC to act as Depositary with respect to the Global Notes. The Company initially appoints the Trustee
to act as Paying Agent and Registrar for the Notes, for which Computershare Trust Company, N.A., a national association, shall be Custodian.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;2.04<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Paying Agent to Hold Money in Trust</U>. The Company shall, by no later than 11:00 a.m. (New York City time) on each due date
for the payment of principal, premium, if any, and interest on any of the Notes, deposit with a Paying Agent a sum sufficient to pay such
amount, such sum to be held in trust for the Holders entitled to the same, and (unless such Paying Agent is the Trustee) the Company shall
promptly notify the Trustee in writing of its action or failure so to act. The Company shall require each Paying Agent other than the
Trustee to agree in writing that such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by such
Paying Agent for the payment of principal, premium, if any, and interest on the Notes and shall notify the Trustee in writing of any default
by the Company in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held
by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee and to account for
any funds disbursed by the Paying Agent. Upon payment over to the Trustee, a Paying Agent shall have no further liability for the money.
If the Company or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">benefit of the Holders
all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee shall serve
as Paying Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.05<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Holder Lists</U>. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available
to it of the names and addresses of all Holders. If the Trustee is not the Registrar, the Company shall furnish to the Trustee in writing
at least five Business Days before each Interest Payment Date and at such other times as the Trustee may reasonably request in writing,
a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.06<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Transfer and Exchange</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Notes shall be issued in registered form and shall be transferable only upon the surrender of a Note for registration of transfer
and in compliance with <U>Appendix&nbsp;A</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Global Notes and
Definitive Notes upon receipt of an Authentication Order in accordance with <U>Section&nbsp;2.02</U> or at the Registrar&rsquo;s request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No service charge shall be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any
registration of transfer or exchange (other than pursuant to <U>Section&nbsp;2.07</U>), but the Holders shall be required to pay any transfer
tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar governmental charge payable
upon exchange or transfer pursuant to <U>Sections&nbsp;2.10</U>, <U>3.06</U>, <U>3.10</U>, <U>4.10</U>, <U>4.14</U> and <U>9.05</U>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes
shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the
Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange. Any Holder of a beneficial interest in a
Global Note shall, by acceptance of such beneficial interest, agree that transfers of beneficial interests in such Global Note may be
effected only through a book-entry system maintained by (a) the holder of such Global Note (or its agent) or (b) any Holder of a beneficial
interest in such Global Note, and that ownership of a beneficial interest in such Global Note shall be required to be reflected in a book
entry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor the Registrar shall be required (1) to issue, to register the transfer of or to exchange any Note during
a period beginning at the opening of business 15 days before the mailing of a notice of redemption pursuant to <U>Section&nbsp;3.03</U>
and ending at the mailing of such notice of redemption, (2) to register the transfer of or to exchange any Note so selected for redemption
in whole or in part, except the unredeemed portion of any Note being redeemed in part or (3) to register the transfer of or to exchange
any Note between a Record Date and the next succeeding Interest Payment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent or the Company may deem and treat
the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal,
premium, if any, and (subject to the Record Date provisions of the Notes) interest on such Notes</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">and for all other purposes, and none
of the Trustee, any Agent or the Company shall be affected by notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Upon surrender for registration of transfer of any Note at the office or agency of the Company designated pursuant to <U>Section&nbsp;4.02</U>,
the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one
or more replacement Notes of any authorized denomination or denominations of a like aggregate principal amount so long as the requirements
of this Indenture are met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>At the option of the Holder, Notes may be exchanged for other Notes of any authorized denomination or denominations of a like aggregate
principal amount upon surrender of the Notes to be exchanged at the office or agency of the Company designated pursuant to <U>Section&nbsp;4.02</U>
so long as the requirements of this Indenture are met. Whenever any Global Notes or Definitive Notes are so surrendered for exchange,
the Company shall execute, and the Trustee shall authenticate and deliver, the replacement Global Notes or Definitive Notes, as applicable,
to which the Holder making the exchange is entitled in accordance with the provisions of <U>Appendix&nbsp;A</U> so long as the requirements
of this Indenture are met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this <U>Section&nbsp;2.06</U>
to effect a registration of transfer or exchange may be submitted by mail or by facsimile or electronic transmission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Trustee, Registrar nor any transfer agent shall have any obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer or exchange imposed under this Indenture or under applicable law with respect to any transfer
or exchange of any interest in any Note (including any transfers between or among participants or other beneficial owners of interests
in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required
by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance
as to form with the express requirements hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.07<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Replacement Notes</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If a mutilated Note is surrendered to the Registrar or if a Holder claims that its Note has been lost, destroyed or wrongfully
taken and the Registrar receives evidence to its satisfaction of the ownership and loss, destruction or theft of such Note, the Company
shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if the Trustee&rsquo;s reasonable
requirements are otherwise met. An indemnity bond must be provided by the Holder that is sufficient in the judgment of the Trustee and
the Company to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a
Note is replaced. The Company may charge the Holder for the expenses of the Company (including reasonable fees and expenses of counsel)
and the Trustee in replacing a Note. Every replacement Note is a contractual obligation of the Company and shall be entitled to all of
the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. Notwithstanding the foregoing provisions
of this <U>Section&nbsp;2.07</U>, in case any mutilated, lost, destroyed or wrongfully taken Note has become or is about to become due
and payable, the Company in its discretion may, instead of issuing a new Note, pay such Note. Upon the issuance</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">of any replacement Note
under this <U>Section&nbsp;2.07</U>, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge
that may be imposed in relation thereto and any other expenses (including the reasonable fees and expenses of counsel and the Trustee)
connected therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The provisions of this <U>Section&nbsp;2.07</U> are exclusive and shall preclude (to the extent lawful) all other rights and remedies
with respect to the replacement or payment of mutilated, lost, destroyed or wrongfully taken Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.08<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Outstanding Notes</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Notes outstanding at any time are all the Notes that have been authenticated by the Trustee except for those canceled by it,
those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the
provisions hereof, those paid pursuant to <U>Section&nbsp;2.07</U>, those described in this <U>Section&nbsp;2.08</U> as not outstanding
and, solely to the extent provided for in <U>Article&nbsp;8</U>, Notes that are subject to Legal Defeasance or Covenant Defeasance as
provided in <U>Article&nbsp;8</U>. Except as set forth in <U>Section&nbsp;2.09</U>, a Note does not cease to be outstanding because the
Company or an Affiliate of the Company holds the Note; <U>provided</U> that Notes held by the Company or a Subsidiary will not be deemed
to be outstanding for purposes of <U>Section&nbsp;3.07(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If a Note is replaced or paid pursuant to <U>Section&nbsp;2.07</U>, it ceases to be outstanding unless the Trustee receives proof
satisfactory to it that the replaced Note is held by a protected purchaser, as such term is defined in Section 8-303 of the Uniform Commercial
Code in effect in the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the principal amount of any Note is considered paid under <U>Section&nbsp;4.01</U>, it ceases to be outstanding and interest
on it ceases to accrue from and after the date of such payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If a Paying Agent (other than the Company, a Subsidiary or any Affiliate thereof) holds, on the maturity date, any redemption date
or any date of purchase pursuant to an Offer to Purchase, money sufficient to pay Notes payable or to be redeemed or purchased on that
date, then on and after that date such Notes shall be deemed to be no longer outstanding and shall cease to accrue interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;2.09<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Treasury Notes</U>. In determining whether the Holders of the requisite principal amount of Notes have concurred in any direction,
waiver or consent, Notes beneficially owned by the Company, or by any Affiliate of the Company, shall be considered as though not outstanding,
except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent,
only Notes that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so owned that have been
pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee&rsquo;s right
to deliver any such direction, waiver or consent with respect to the Notes and that the pledgee is not the Company or any obligor under
the Notes or any Affiliate of the Company or of such other obligor.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Temporary Notes</U>. Until definitive Notes are ready for delivery, the Company may prepare and the Trustee, upon receipt of
an Authentication Order, shall authenticate temporary Notes. Temporary Notes shall be substantially in the form of definitive Notes but
may have variations that the Company considers appropriate for temporary Notes and as shall be reasonably acceptable to the Trustee. Without
unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Notes in exchange for temporary Notes upon
surrender of such temporary Notes at the office or agency of the Company, without charge to the Holder. Until so exchanged, the Holders
and beneficial owners, as the case may be, of temporary Notes shall be entitled to all of the benefits accorded to Holders, or beneficial
owners, respectively, of Notes under this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Cancellation</U>. The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent
shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee or, at the direction
of the Trustee, the Registrar or the Paying Agent and no one else shall cancel all Notes surrendered for registration of transfer, exchange,
payment, replacement or cancellation and shall dispose of canceled Notes in accordance with its customary procedures (subject to the record
retention requirement of the Exchange Act). Certification of the disposal of all canceled Notes shall, upon the written request of the
Company, be delivered to the Company. The Trustee shall retain all canceled Notes in accordance with its standard procedures (subject
to the record retention requirements of the Exchange Act), and copies of the canceled Notes shall be provided to the Company upon the
Company&rsquo;s written request. The Company may not issue new Notes to replace Notes that it has paid or that have been delivered to
the Trustee for cancellation. If the Company acquires any of the Notes, such acquisition shall not operate as a redemption or satisfaction
of Indebtedness represented by such Notes unless or until the same are delivered to the Trustee for cancellation. The Trustee shall not
authenticate Notes in place of canceled Notes other than pursuant to the terms of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Defaulted Interest</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Company defaults in a payment of interest on the Notes, it shall pay the defaulted interest in any lawful manner plus, to
the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in
each case at the rate provided in the Notes and in <U>Section&nbsp;4.01</U>. The Company shall notify the Trustee in writing of the amount
of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make
arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited
to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this <U>Section&nbsp;2.12</U>. The
Company shall fix or cause to be fixed each such special record date and payment date; <U>provided</U> that no such special record date
shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date,
the Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall send, or cause
to be sent, to each Holder a notice that states the special record date, the related payment date and the amount of such interest to be
paid.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the foregoing provisions of this <U>Section&nbsp;2.12</U> and for greater certainty, each Note delivered under this
Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued
and unpaid, and to accrue interest, which were carried by such other Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Additional Amounts</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All payments made by or on behalf of the Company or by or on behalf of any Guarantor under or with respect to the Notes, shall
be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment
or other governmental charge (including penalties, interest and other liabilities related thereto) (hereinafter referred to as &ldquo;<FONT STYLE="font-weight: normal"><U>Taxes</U></FONT>&rdquo;)
imposed or levied by or on behalf of the government of Canada, any province or territory of Canada or any political subdivision or any
authority or agency therein or thereof having power to tax, or within any other jurisdiction in which the Company or any such Guarantor
is organized, or is otherwise carrying on business in, or is otherwise resident for tax purposes or any jurisdiction from or through which
payment is made (each, a &ldquo;<FONT STYLE="font-weight: normal"><U>Relevant Taxing Jurisdiction</U></FONT>&rdquo;), unless such Person
is required to withhold or deduct Taxes by law or by the interpretation or administration thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Company or any Guarantor that is organized, or is otherwise carrying on business in, or is otherwise resident for tax purposes
other than in the United States (each such person, a &ldquo;<FONT STYLE="font-weight: normal"><U>Payor</U></FONT>&rdquo;) is so required
to withhold or deduct any amount for or on account of Taxes imposed by a Relevant Taxing Jurisdiction from any payment made under or with
respect to the Notes or a Note Guarantee, such Payor shall pay such additional amounts (&ldquo;<FONT STYLE="font-weight: normal"><U>Additional
Amounts</U></FONT>&rdquo;) as may be necessary so that the net amount received by a Holder or beneficial owner of Notes (including Additional
Amounts) after such withholding or deduction will not be less than the amount such Holder or beneficial owner of Notes would have received
if such Taxes (including Taxes on any Additional Amounts) had not been withheld or deducted; <U>provided</U>, <U>however</U>, that the
foregoing obligations to pay Additional Amounts shall not apply to (1) any Holder or beneficial owner of Notes with which the applicable
Payor does not deal at arm&rsquo;s length (within the meaning of the Tax Act) at the time of the payment; (2)&nbsp;any Taxes to the extent
such Taxes are assessed or imposed by reason of the Holder or beneficial owner of the Note being a &ldquo;specified shareholder&rdquo;
as defined in subsection&nbsp;18(5) of the Tax&nbsp;Act of the Payor of such payment or not dealing at arm&rsquo;s length (for&nbsp;purposes
of the Tax&nbsp;Act) with a &ldquo;specified shareholder&rdquo; of the Payor of such payment; (3)&nbsp;any withholding on account of Taxes
imposed pursuant to the U.S.&nbsp;<I>Foreign Account Tax Compliance Act</I> (FATCA) under Sections&nbsp;1471 through&nbsp;1474 of the
Code, as of the Issue Date (or&nbsp;any amended or successor version of such Sections that is substantively comparable and not materially
more onerous to comply with) and any regulations or official interpretations thereof; or (4)&nbsp;any Taxes that would not have been so
imposed but for the existence of any present or former connection between the relevant Holder or beneficial owner of Notes and the Relevant
Taxing Jurisdiction including, for greater certainty and without limitation, being organized or having its principal office therein, being
or having been a citizen, resident or national thereof, or being or having been present or engaged in a trade or business therein or maintaining
a permanent establishment or other physical presence in or otherwise having some connection with the Relevant Taxing Jurisdiction (other
than a connection from the mere acquisition, ownership or holding of such Note or a beneficial interest therein or the enforcement of
rights thereunder or the receipt of any payment in respect thereof); nor shall Additional Amounts be paid (a) if the payment could</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">have
been made without such deduction or withholding if the beneficiary of the payment had presented the Note for payment within 30 days after
the date on which such payment or such Note became due and payable or the date on which payment thereof is duly provided for, whichever
is later (except to the extent that the Holder or beneficial owner would have been entitled to Additional Amounts had the Note been presented
on the last day of such 30-day period); (b) to the extent relating to Taxes imposed by reason of the Holder&rsquo;s or beneficial owner&rsquo;s
failure to comply with any certification, documentation, information or other evidentiary requirement concerning such Holder&rsquo;s or
beneficial owner&rsquo;s nationality, residence, identity or connection with the Relevant Taxing Jurisdiction if compliance is required
by law, regulation, administrative practice or an applicable treaty as a precondition to exemption from, or a reduction in the rate of
deduction or withholding of, such Taxes to which such Holder or beneficial owner is entitled; (c) to the extent relating to any tax assessment
or other governmental charge which would have been avoided by such Holder by presenting the relevant Note (if presentation is required);
(d) with respect to Taxes that are estate, inheritance, gift, sales, transfer, personal property or similar Taxes; (e) to a holder which
is a fiduciary, a partnership or a person other than the sole beneficial owner of any such payment, if such Taxes would not have been
imposed had the beneficiary or settlor with respect to such fiduciary, a member of such partnership or other beneficial owner of the payment
been the holder of the Notes or (f) to the extent relating to any combination of any of the above clauses in this paragraph (any such
Tax in respect of which Additional Amounts are payable, an &ldquo;<FONT STYLE="font-weight: normal"><U>Indemnified Tax</U></FONT>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The applicable Payor shall make any required withholding or deduction and remit the full amount deducted or withheld to the Relevant
Taxing Jurisdiction in accordance with applicable law. Upon request, the Company shall provide the Trustee with official receipts or other
documentation evidencing the payment of the Taxes with respect to which Additional Amounts are paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If a Payor is or will become obligated to pay Additional Amounts under or with respect to any payment made on the Notes or a Note
Guarantee, at least 30 days prior to the date of such payment (unless such obligation to pay Additional Amounts arises shortly before
or after the 30<SUP>th</SUP> day prior to such date, in which case it shall be promptly thereafter), such Payor shall deliver to the Trustee
and the Paying Agent (if different) an Officer&rsquo;s Certificate stating the fact that Additional Amounts will be payable and the amount
so payable and such other information necessary to enable the Paying Agent to pay Additional Amounts to Holders on the relevant payment
date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Whenever in this Indenture there is mentioned in any context: (1) the payment of principal; (2) redemption prices or purchase prices
in connection with a redemption or purchase of Notes; (3) interest; or (4) any other amount payable on or with respect to any of the Notes
or any Note Guarantee, such reference shall be deemed to include payment of Additional Amounts as described under this <U>Section&nbsp;2.13</U>
to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and the Guarantors shall indemnify and hold harmless a Holder of the Notes for the amount of any Indemnified Taxes
(including, for greater certainty, taxes payable pursuant to Regulation 803 of the Income Tax Regulations (Canada)) levied or</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">imposed
and paid by such Holder as a result of payments made under or with respect to the Notes or any Note Guarantee, and with respect to any
reimbursements under this clause&nbsp;2.13(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and the Guarantors shall pay any present or future stamp, court or documentary taxes or any other excise, property
or similar Taxes, charges or levies that arise in any Relevant Taxing Jurisdiction from the execution, delivery, enforcement or registration
of the Notes, the Note Guarantees, this Indenture or any other document or instrument in relation thereof, or the receipt of any payments
with respect to the Notes or any Note Guarantees and the Company and the Guarantors shall indemnify the Holders of Notes for any such
amounts (including penalties, interest and other liabilities related thereto) paid by such Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The obligations described in this <U>Section&nbsp;2.13</U> will survive any termination, defeasance or discharge of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>CUSIP and ISIN Numbers</U>. The Company in issuing the Notes may use CUSIP or ISIN numbers (if then generally in use) and if
it does, the Trustee shall use CUSIP or ISIN numbers in notices of redemption or exchange or in Offers to Purchase as a convenience to
Holders; <U>provided</U> that any such notice may state that no representation is made as to the correctness of such numbers either as
printed on the Notes or as contained in any notice of redemption or exchange or in Offers to Purchase and that reliance may be placed
only on the other identification numbers printed on the Notes, and any such redemption or exchange or Offer to Purchase shall not be affected
by any defect in or omission of such numbers. The Company shall promptly notify the Trustee in writing of any change in the CUSIP or ISIN
numbers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;2.15<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Computation of Interest</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For purposes of the Interest Act (Canada), whenever any interest or fee under the Notes or this Indenture is calculated using a
rate based on a number of days less than a full year, such rate determined pursuant to such calculation, when expressed as an annual rate,
is equivalent to (x) the applicable rate, (y) multiplied by the actual number of days in the calendar year in which the period for which
such interest or fee is payable (or compounded) ends, and (z) divided by the number of days based on which such rate is calculated. The
principle of deemed reinvestment of interest does not apply to any interest calculation under the Notes or this Indenture. The rates of
interest stipulated in the Notes and this Indenture are intended to be nominal rates and not effective rates or yields. In the event that
any provision of the Notes, this Indenture or any document related thereto would oblige the Company or any Guarantor to make any payment
of interest or any other payment which is construed by a court of competent jurisdiction to be interest in an amount or calculated at
a rate which would be prohibited by applicable law or would result in a receipt by the Holders of interest at a criminal rate (as such
terms are construed under the Criminal Code (Canada)), then notwithstanding such provision, such amount or rate shall be deemed to have
been adjusted to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by applicable law or so result
in a receipt by the Holders of interest at a criminal rate, such adjustment to be effected, to the extent necessary as follows:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>first, by reducing the amount or rate of interest required to be paid under the Notes, this Indenture or such other document; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>thereafter, by reducing any fees, commissions, premiums or other amounts required to be paid under the Notes, this Indenture or
any document related thereto which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">If, notwithstanding the foregoing
and after giving effect to all adjustments contemplated thereby, the Holders shall have received an amount in excess of the maximum permitted
by applicable law, then such excess shall be applied to the reduction of the principal balance of the outstanding principal of the applicable
Notes and not to the payment of interest, or if such excessive interest exceeds such principal balance, such excess shall be refunded
to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding anything to the contrary herein, the Trustee shall not have any duty or obligation to calculate or verify any interest
on the Notes.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
3<BR>
<BR>
REDEMPTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;3.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices to Trustee</U>. If the Company elects to redeem Notes pursuant to <U>Section&nbsp;3.07</U> or <U>Section&nbsp;3.09</U>,
it shall furnish to the Trustee, at least five Business Days before notice of redemption is required to be sent or caused to be sent to
Holders pursuant to <U>Section&nbsp;3.03</U> (unless a shorter notice shall be agreed to by the Trustee in writing) but not more than
65 days before a redemption date, an Officer&rsquo;s Certificate setting forth (1) the paragraph or subparagraph of such Article or Section
of this Indenture pursuant to which the redemption shall occur, (2) the redemption date, (3) the principal amount of the Notes to be redeemed
and (4) the redemption price, if then ascertainable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;3.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Selection of Notes to Be Redeemed or Purchased</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If less than all of the Notes are to be redeemed pursuant to <U>Section&nbsp;3.07</U> or <U>Section&nbsp;3.09</U> or purchased
in an Offer to Purchase at any time, the Trustee shall select the Notes to be redeemed or purchased (1) if the Notes are listed on any
national securities exchange, in compliance with the requirements of applicable laws and the principal national securities exchange on
which the Notes are listed or (2) if the Notes are not so listed, in the case of certificated Notes, on a <U>pro rata</U> basis, by lot
or by such other method as the Trustee in its sole discretion shall deem fair and appropriate, or, in the case of Global Notes, in accordance
with the procedures of the Depositary and applicable laws. In the event of partial redemption or purchase by lot, the particular Notes
to be redeemed or purchased shall be selected, unless otherwise provided herein, not less than 15 nor more than 60 days prior to the redemption
date by the Trustee from the then outstanding Notes not previously called for redemption or purchase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall promptly notify the Company in writing of the Notes selected for redemption or purchase and, in the case of any
Note selected for partial redemption or purchase, the principal amount thereof to be redeemed or purchased. Notes and portions of Notes</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">selected shall be in amounts of $1,000 or whole number multiples of $1,000; no Notes of $2,000 or less shall be redeemed in part, except
that if all of the Notes of a Holder are to be redeemed or purchased, the entire outstanding amount of Notes held by such Holder, even
if not $2,000 or a multiple of $1,000 in excess thereof, shall be redeemed or purchased. Except as provided in the preceding sentence,
provisions of this Indenture that apply to Notes called for redemption or purchase also apply to portions of Notes called for redemption
or purchase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>After the redemption date, upon surrender of a Note to be redeemed in part only, a new Note or Notes in principal amount equal
to the unredeemed portion of the original Note, representing the same Indebtedness to the extent not redeemed, shall be issued in the
name of the Holder of the Notes upon cancellation of the original Note (or appropriate book entries shall be made to reflect such partial
redemption).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;3.03<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice of Redemption</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to <U>Section&nbsp;3.10</U>, the Company shall send, or cause to be sent (in the case of Notes held in book-entry form,
by electronic transmission) notices of redemption of Notes at least 15 days but not more than 60 days before the redemption date to each
Holder whose Notes are to be redeemed pursuant to this Article at such Holder&rsquo;s registered address or otherwise in accordance with
the procedures of the Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The notice shall identify the Notes to be redeemed (including CUSIP and ISIN number, if applicable) and shall state:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the redemption date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the redemption price, including the portion thereof representing any accrued and unpaid interest; <U>provided</U> that in connection
with a redemption under <U>Section&nbsp;3.07(a)</U>, the notice need not set forth the redemption price but only the manner of calculation
thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if any Note is to be redeemed in part only, the portion of the principal amount of that Note that is to be redeemed;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the name and address of the Paying Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that, unless the Company defaults in making such redemption payment or the Paying Agent is prohibited from making such payment
pursuant to the terms of this Indenture, interest on Notes called for redemption ceases to accrue on and after the redemption date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the paragraph or subparagraph of the Notes or Section of this Indenture pursuant to which the Notes called for redemption are being
redeemed;</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that no representation is made as to the correctness or accuracy of the CUSIP or ISIN number, if any, listed in such notice or
printed on the Notes; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if applicable, any condition to such redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>At the Company&rsquo;s request, the Trustee shall give the notice of redemption in the Company&rsquo;s name and at the Company&rsquo;s
expense; <U>provided</U> that the Company shall have delivered to the Trustee, at least five Business Days before notice of redemption
is required to be sent or caused to be sent to Holders pursuant to this <U>Section&nbsp;3.03</U> (unless a shorter notice shall be agreed
to by the Trustee), an Officer&rsquo;s Certificate requesting that the Trustee give such notice and attaching a form of the notice which
shall contain the information to be stated in such notice as provided in <U>Section&nbsp;3.03(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;3.04<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Effect of Notice of Redemption</U>. Once notice of redemption is sent in accordance with <U>Section&nbsp;3.03</U>, Notes called
for redemption become irrevocably due and payable on the redemption date at the redemption price (except as provided for in <U>Section&nbsp;3.07(g)</U>).
The notice, if sent in a manner herein provided, shall be conclusively presumed to have been given, whether or not the Holder receives
such notice. In any case, failure to give such notice or any defect in the notice to the Holder of any Note designated for redemption
in whole or in part shall not affect the validity of the proceedings for the redemption of any other Note. Subject to <U>Section&nbsp;3.05</U>,
on and after the redemption date, interest ceases to accrue on Notes or portions of Notes called for redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;3.05<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Deposit of Redemption or Purchase Price</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>By no later than 10:00 a.m. (New York City time) on the redemption or purchase date, the Company shall deposit with the Trustee
or with the Paying Agent money sufficient to pay the redemption or purchase price of and accrued and unpaid interest on all Notes to be
redeemed or purchased on that date. The Paying Agent shall promptly mail to each Holder whose Notes are to be redeemed or repurchased
the applicable redemption or purchase price thereof and accrued and unpaid interest thereon. The Trustee or the Paying Agent shall promptly
return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay
the redemption or purchase price of, and accrued and unpaid interest on, all Notes to be redeemed or purchased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Company complies with the provisions of <U>Section&nbsp;3.05(a)</U>, on and after the redemption or purchase date, interest
shall cease to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or
after a Record Date but on or prior to the related Interest Payment Date, then any accrued and unpaid interest to the redemption or purchase
date shall be paid on the relevant Interest Payment Date to the Person in whose name such Note was registered at the close of business
on such Record Date, and no additional interest shall be payable to Holders whose Notes shall be subject to redemption by the Company.
If any Note called for redemption or purchase shall not be so paid upon surrender for redemption or purchase because of the failure of
the Company to comply with <U>Section&nbsp;3.05(a)</U>, interest shall be paid on the unpaid principal, from the redemption or purchase
date until such principal is paid, and, to the extent lawful, on any interest accrued to the redemption or purchase</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">date not paid on such
unpaid principal, in each case at the rate provided in the Notes and in <U>Section&nbsp;4.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;3.06<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notes Redeemed or Purchased in Part</U>. Upon surrender of a Note that is redeemed or purchased in part, the Company shall issue
and, upon receipt of an Authentication Order, the Trustee shall promptly authenticate and mail to the Holder (or cause to be transferred
by book entry) at the expense of the Company a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note
surrendered representing the same Indebtedness to the extent not redeemed or purchased; <U>provided</U> that each new Note shall be in
a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. It is understood that, notwithstanding anything in this
Indenture to the contrary, only an Authentication Order and not an Opinion of Counsel or Officer&rsquo;s Certificate is required for the
Trustee to authenticate such new Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;3.07<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Optional Redemption</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>At any time prior to February 15, 2025, the Company may redeem the Notes, in whole or in part, upon not less than 15 nor more than
60 days&rsquo; prior written notice sent to each Holder or otherwise in accordance with the procedures of the Depositary at a redemption
price equal to 100% of the aggregate principal amount of the Notes plus the Applicable Premium, plus accrued and unpaid interest, if any,
to the redemption date (subject to the right of Holders of record on the relevant Record Date to receive interest due on an Interest Payment
Date falling on or prior to such redemption date). Promptly after the determination thereof, the Company shall give the Trustee notice
of the redemption price provided for in this <U>Section&nbsp;3.07(a)</U>, and the Trustee shall not be responsible for such calculation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Prior to February 15, 2025, the Company may on any one or more occasions redeem up to 40% of the original aggregate principal amount
of the Notes (calculated after giving effect to any issuance of Additional Notes) with the Net Cash Proceeds of one or more Equity Offerings
at a redemption price equal to 106.50% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to the applicable
redemption date (subject to the right of Holders of record on the relevant Record Date to receive interest due on an Interest Payment
Date falling on or prior to such redemption date); <U>provided</U> that (1) at least 50% of the original aggregate principal amount of
the Notes (calculated after giving effect to any issuance of Additional Notes) remains outstanding after each such redemption; and (2)
such redemption occurs within 120 days after the closing of such Equity Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event that Holders of not less than 90% of the aggregate principal amount of the outstanding Notes accept a Change of Control
Offer pursuant to <U>Section&nbsp;4.14</U>, and the Company purchases all of the Notes held by such Holders, within 90 days of such purchase,
the Company will have the right, upon not less than 15 days&rsquo; nor more than 60 days&rsquo; prior notice, to redeem all of the Notes
that remain outstanding following such purchase at a redemption price equal to the Change of Control Payment plus, to the extent not included
in the Change of Control Payment, accrued and unpaid interest on the Notes to the date of redemption (subject to the right of Holders
of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except pursuant to clause&nbsp;(a), (b) or (c) of this <U>Section&nbsp;3.07</U> or pursuant to <U>Section&nbsp;3.09</U>, the Notes
shall not be redeemable at the Company&rsquo;s option prior to February 15, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>On and after February 15, 2025, the Company may redeem the Notes, in whole or in part, upon not less than 15 nor more than 60 days&rsquo;
notice, at the redemption prices (expressed as a percentage of principal amount of the Notes to be redeemed) set forth below, plus accrued
and unpaid interest on the Notes, if any, to the applicable redemption date (subject to the right of Holders of record on the relevant
Record Date to receive interest due on an Interest Payment Date falling on or prior to such redemption date), if redeemed during the 12-month
period beginning on February 15 of each of the years indicated below:</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: 86%; border-top: Black 1.5pt solid; border-bottom: Black 1pt solid"><B>Year</B></TD>
    <TD STYLE="text-align: center; width: 14%; border-top: Black 1.5pt solid; border-bottom: Black 1pt solid"><B>Percentage</B></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt">2025</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">103.250%</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt">2026</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">101.625%</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-left: 10pt; text-indent: -10pt">2027 and thereafter</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right">100.000%</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any redemption pursuant to this <U>Section&nbsp;3.07</U> shall be made pursuant to the provisions of <U>Sections&nbsp;3.01</U>
through <U>3.06</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any redemption notice in connection with this <U>Section&nbsp;3.07</U> may, at the Company&rsquo;s discretion, be subject to one
or more conditions precedent, including completion of an Equity Offering or other corporate transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the optional redemption date is on or after a Record Date and on or before the related Interest Payment Date, the accrued and
unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on such Record Date,
and no additional interest will be payable to Holders whose Notes will be subject to redemption by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;3.08<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Mandatory Redemption; Open Market Purchases</U>. The Company will not be required to make mandatory redemption or sinking fund
payments with respect to the Notes. The Company may be required to repurchase Notes pursuant to <U>Section&nbsp;4.10</U> and <U>Section&nbsp;4.14</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The Company, any Subsidiary
or their respective Affiliates may acquire Notes by means other than a redemption, whether by tender offer, open market purchases, negotiated
transactions or otherwise, in accordance with applicable securities laws and regulations, including, without limitation, Canadian Securities
Legislation, so long as such acquisition does not otherwise violate the terms of this Indenture and is permitted by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;3.09<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Tax Redemption</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Company becomes, or will become, obligated to pay, on the next date on which any amount may be payable with respect to the
Notes, any Additional Amounts as a result of an actual change (or a change in legislation proposed by the Minister of Finance of Canada
or any similar authority that, if enacted, will be effective prior to the enactment date) in, or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">amendment to, the laws or regulations
of any Relevant Taxing Jurisdiction or a change in any official position or the introduction of an official position regarding the application
or interpretation thereof (including a holding by a court of competent jurisdiction), which is publicly announced or becomes effective
on or after the Issue Date, then the Company may, at its option, redeem the Notes then outstanding, in whole but not in part, upon not
less than 15 nor more than 60 days&rsquo; notice (such notice to be provided not more than 90 days before the next date on which it would
be obligated to pay Additional Amounts), at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid
interest, if any, to the redemption date (subject to the right of Holders of record on the relevant Record Date to receive interest due
on an Interest Payment Date that is on or prior to the redemption date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event that the Company elects to redeem the Notes pursuant to the provisions set forth in <U>Section&nbsp;3.09(a)</U>, the
Company shall deliver to the Trustee an Officer&rsquo;s Certificate stating that the Company is or will become obligated to pay Additional
Amounts because of an amendment to or change in law or regulation or position as described in this <U>Section&nbsp;3.09</U>. Notice of
the Company&rsquo;s intent to redeem the Notes pursuant to this <U>Section&nbsp;3.09</U> shall not be effective until such time as it
delivers to the Trustee such Officer&rsquo;s Certificate stating that the Company is or will become obligated to pay Additional Amounts
because of an amendment to or change in law or regulation or position as described in this <U>Section&nbsp;3.09</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any redemption pursuant to <U>Section&nbsp;3.09</U> shall be made pursuant to the provisions of <U>Section&nbsp;3.01</U> through
<U>3.06</U>. Any notice to redeem the Notes pursuant to this <U>Section&nbsp;3.09</U> shall not be given earlier than 90 days prior to
the earliest date on which the Company would be obligated to pay Additional Amounts in respect of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;3.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Offers to Repurchase by Application of Excess Proceeds</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event that, pursuant to <U>Section&nbsp;4.10</U>, the Company is required to commence an Asset Disposition Offer, the Company
will follow the procedures specified below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Asset Disposition Offer will remain open for a period of 20 Business Days following its commencement, except to the extent
that a longer period is required by applicable law (the &ldquo;<FONT STYLE="font-weight: normal"><U>Asset Disposition Offer Period</U></FONT>&rdquo;).
No later than five Business Days after the termination of the Asset Disposition Offer Period (the &ldquo;<FONT STYLE="font-weight: normal"><U>Asset
Disposition Purchase Date</U></FONT>&rdquo;), the Company shall apply all Excess Proceeds to the purchase of the aggregate principal amount
of Notes and, if applicable, Pari Passu Indebtedness (on a <U>pro rata</U> basis, if applicable) required to be purchased pursuant to
<U>Section&nbsp;4.10</U> (the &ldquo;<FONT STYLE="font-weight: normal"><U>Asset Disposition Offer Amount</U></FONT>&rdquo;), or if less
than the Asset Disposition Offer Amount of Notes (and, if applicable, Pari Passu Indebtedness) has been so validly tendered and not validly
withdrawn, all Notes and Pari Passu Indebtedness validly tendered and not validly withdrawn in response to the Asset Disposition Offer.
Payment for any Notes so purchased will be made in the same manner as interest payments on the Notes are made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Asset Disposition Purchase Date is on or after a Record Date and on or before the related Interest Payment Date, any accrued
and unpaid interest up to but excluding the Asset Disposition Purchase Date shall be paid to the Person in whose name a Note is registered
at the close of business on such Record Date or otherwise in accordance with the procedures of the applicable depositary.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Upon the commencement of an Asset Disposition Offer, the Company shall send a notice (or, in the case of Global Notes, otherwise
communicate in accordance with the procedures of the Depositary) to each of the Holders, with a copy to the Trustee. The notice shall
contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Disposition Offer. The Asset
Disposition Offer shall be made to all Holders and, if required, all holders of Pari Passu Indebtedness. The notice, which shall govern
the terms of the Asset Disposition Offer, shall state:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that the Asset Disposition Offer is being made pursuant to this <U>Section&nbsp;3.10</U> and <U>Section&nbsp;4.10</U> and the length
of time the Asset Disposition Offer shall remain open;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Asset Disposition Offer Amount, the purchase price, including the portion thereof representing any accrued and unpaid interest,
and the Asset Disposition Purchase Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that any Note not properly tendered or accepted for payment shall continue to accrue interest;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that, unless the Company defaults in making such payment, any Note accepted for payment pursuant to the Asset Disposition Offer
will cease to accrue interest on and after the Asset Disposition Purchase Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that Holders electing to have a Note purchased pursuant to an Asset Disposition Offer may elect to have Notes purchased in integral
multiples of $1,000 only;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that Holders electing to have a Note purchased pursuant to an Asset Disposition Offer shall be required to (i) surrender such Note,
with the form entitled &ldquo;Option of Holder to Elect Purchase&rdquo; on the reverse of such Note completed, or (ii) transfer such Note
by book-entry transfer, in either case, to the Company, the Depositary, if applicable, or a Paying Agent at the address specified in the
notice prior to the close of business on the third Business Day preceding the Asset Disposition Purchase Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that Holders shall be entitled to withdraw their tendered Notes and their election to require the Company to purchase such Notes
if the Company, the Depositary or the Paying Agent, as the case may be, receives at the address specified in the notice, not later than
the expiration of the Asset Disposition Offer Period, a facsimile transmission or letter setting forth the name of the Holder, the principal
amount of the Notes the Holder tendered for purchase and a statement that such Holder is withdrawing its tendered Notes and its election
to have such Note purchased;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that, if the aggregate principal amount of Notes and Pari Passu Indebtedness surrendered by the holders thereof exceeds the Asset
Disposition Offer Amount, then the Notes and such Pari Passu Indebtedness will be purchased on a <U>pro rata</U> basis based on the aggregate
accreted value or principal amount, as applicable, of the Notes or such Pari Passu Indebtedness tendered and the selection of the Notes
for purchase shall be made by the Trustee by such method as the Trustee in its sole discretion shall deem to</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">be fair and appropriate,
although no Note having a principal amount of $2,000 shall be purchased in part; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that Holders whose Notes were purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion
of the Notes surrendered (or transferred by book-entry transfer) representing the same Indebtedness to the extent not repurchased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The notice, if sent in a
manner herein provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice. If (A) the
notice is sent in a manner herein provided and (B) any Holder fails to receive such notice or a Holder receives such notice but it is
defective, such Holder&rsquo;s failure to receive such notice or such defect shall not affect the validity of the proceedings for the
purchase of the Notes as to all other Holders that properly received such notice without defect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>On or before the Asset Disposition Purchase Date, the Company shall, to the extent lawful, accept for payment, on a <U>pro rata</U>
basis to the extent necessary, the Asset Disposition Offer Amount of Notes and Pari Passu Indebtedness or portions thereof validly tendered
and not validly withdrawn pursuant to the Asset Disposition Offer, or if less than the Asset Disposition Offer Amount has been validly
tendered and not validly withdrawn, all Notes and Pari Passu Indebtedness so tendered and not withdrawn, in the case of the Notes, in
integral multiples of $1,000; <U>provided</U> that if, following repurchase of a portion of a Note, the remaining principal amount of
such Note outstanding immediately after such repurchase would be less than $2,000, then the portion of such Note so repurchased shall
be reduced so that the remaining principal amount of such Note outstanding immediately after such repurchase is $2,000. The Company shall
deliver, or cause to be delivered, to the Trustee the Notes so accepted and an Officer&rsquo;s Certificate stating the aggregate principal
amount of Notes or portions thereof so accepted and that such Notes or portions thereof were accepted for payment by the Company in accordance
with the terms of this <U>Section&nbsp;3.10</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Paying Agent or the Company, as the case may be, shall promptly, but in no event later than five Business Days after termination
of the Asset Disposition Offer Period, mail or deliver to each tendering Holder or holder or lender of Pari Passu Indebtedness, as the
case may be, an amount equal to the purchase price of the Notes or Pari Passu Indebtedness so validly tendered and not properly withdrawn
by such holder or lender, as the case may be, and accepted by the Company for purchase, and, if less than all of the Notes tendered are
purchased pursuant to the Asset Disposition Offer, the Company shall promptly issue a new Note, and the Trustee, upon delivery of an Authentication
Order from the Company, shall authenticate and mail or deliver (or cause to be transferred by book-entry) such new Note to such Holder
(it being understood that, notwithstanding anything in this Indenture to the contrary, no Opinion of Counsel or Officer&rsquo;s Certificate
will be required for the Trustee to authenticate and mail or deliver such new Note) in a principal amount equal to any unpurchased portion
of the Note surrendered; <U>provided</U> that each such new Note will be in a principal amount of $2,000 or an integral multiple of $1,000
in excess thereof. In addition, the Company will take any and all other actions required by the agreements governing the Pari Passu Indebtedness.
Any Note not so accepted will be promptly mailed or delivered by the Company to the Holder thereof. The Company will publicly announce
the results of the Asset Disposition Offer on the Asset Disposition Purchase Date.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">Other than as specifically
provided in this <U>Section&nbsp;3.10</U> or <U>Section&nbsp;4.10</U>, any purchase pursuant to this <U>Section&nbsp;3.10</U> shall be
made pursuant to the applicable provisions of <U>Sections&nbsp;3.01</U> through <U>3.06</U>.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
4<BR>
<BR>
COVENANTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of Notes</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall duly and punctually pay or cause to be paid the principal, premium, if any, and interest on the Notes on the
dates and in the manner provided in the Notes. Principal, premium, if any, and interest shall be considered paid on the date due if the
Paying Agent, if other than one of the Company or a Subsidiary, holds as of 11:00 a.m. (New York City time) on the due date money deposited
by the Company in immediately available funds and designated for and sufficient to pay the principal, premium, if any, and interest then
due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal
and premium, if any, at the rate equal to the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable
grace period) at the same rate to the extent lawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Maintenance of Office or Agency</U>. The Company shall maintain an office or agency (which may be an office of the Trustee or
an affiliate of the Trustee, Registrar or co-registrar) where Notes may be surrendered for registration of transfer or for exchange and
where notices and demands to or upon the Company and the Guarantors in respect of the Notes and this Indenture may be served. The Company
shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time
the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The Company may also from
time to time designate additional offices or agencies where the Notes may be presented or surrendered for any or all such purposes and
may from time to time rescind such designations. The Company shall give prompt written notice to the Trustee of any such designation or
rescission and of any change in the location of any such other office or agency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The Company hereby designates
the Corporate Trust Office of the Trustee as one such office or agency of the Company in accordance with <U>Section&nbsp;2.03</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.03<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Reports and Other Information</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For so long as any Notes are outstanding, the Company shall furnish without cost to each Holder and deliver to the Trustee:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>on or prior to the later of (A) 90 days after the end of each fiscal year of the Company or (B) the date on which the Company is
required to file (after giving effect to any available extension) such information pursuant to Canadian Securities Legislation, all annual
financial information that the Company would be required to file as a reporting issuer under Canadian Securities Legislation, including
annual &ldquo;<FONT STYLE="font-weight: normal"><U>Management&rsquo;s Discussion &amp; Analysis</U></FONT>&rdquo; (&ldquo;<FONT STYLE="font-weight: normal"><U>MD&amp;A</U></FONT>&rdquo;)
and audited financial statements;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>on or prior to the later of (A) 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Company
or (B) the date on which the Company is required to file (after giving effect to any available extension) such information pursuant to
Canadian Securities Legislation, all quarterly financial information that the Company would be required to file as a reporting issuer
under Canadian Securities Legislation, including a quarterly MD&amp;A and unaudited quarterly financial statements; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>on or prior to the later of the tenth Business Day following the events giving rise to the requirements for the Company to file
a material change report pursuant to Canadian Securities Legislation, such material change report (except for any situation where the
Company files a confidential material change report in accordance with Part&nbsp;7 of National Instrument 51-102 <I>Continuous Disclosure
Obligations</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall use its commercially reasonable efforts (i) to schedule and participate in quarterly conference calls to discuss
its results of operations and (ii) provide each Rating Agency with information on a periodic basis as such Rating Agency shall reasonably
require in order to maintain public ratings of the Notes. With respect to the reports referred to in clauses&nbsp;(1), (2) and (3) of
<U>Section&nbsp;4.03(a)</U>, the Company shall (A) file such reports electronically on the Canadian Securities Administrators&rsquo; SEDAR
website (or any successor system); (B) file such reports electronically on the SEC&rsquo;s Electronic Data Gathering, Analysis and Retrieval
System (or any successor system); or (C) post and maintain such reports on a public website maintained by the Company which, in the case
of (A), (B) or (C), shall satisfy the Company&rsquo;s obligations to furnish such materials to the Holders and deliver such materials
to the Trustee. The Trustee will not be responsible for monitoring the Company&rsquo;s compliance with the immediately preceding sentence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For so long as any Notes remain outstanding, the Company, at any time that it is neither subject to Section 13 or 15(d) of the
Exchange Act, nor exempt from reporting pursuant to Rule 12g3-2(b) thereunder, will provide to any Holder or prospective purchaser designated
by such Holder, upon request of such Holder, the information required by Rule 144A(d)(4) under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event that any Parent of the Company is or becomes a Guarantor of the Notes, the Company may satisfy its obligations under
this <U>Section&nbsp;4.03</U> with respect to financial information relating to the Company by furnishing financial information relating
to such Parent; <U>provided that</U>, the same is accompanied by consolidating information that explains in reasonable detail the differences
between the information relating to such Parent and any of its Subsidiaries other than the Company and its Subsidiaries, on the one hand,
and the information relating to the</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Company, the Guarantors and the other Subsidiaries of the Company on a stand-alone basis, on the other
hand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries and such Unrestricted Subsidiaries hold more
than in the aggregate 10.0% of the Total Assets of the Company, then the annual, quarterly and <U>pro forma</U> financial information
required by clauses&nbsp;(1), (2) and (3) of <U>Section&nbsp;4.03(a)</U> shall include a reasonably detailed presentation of the financial
condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of
operations of the Unrestricted Subsidiaries of the Company in accordance with and to the extent required by IFRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To the extent any information is not provided as specified in this <U>Section&nbsp;4.03</U> and such information is subsequently
provided, the Company will be deemed to have satisfied its obligations with respect thereto at such time and any Default with respect
thereto shall be deemed to have been cured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Delivery of such reports, information and documents to the Trustee shall be for informational purposes only and the Trustee&rsquo;s
receipt of such reports, information and documents shall not constitute constructive notice of any information contained therein or determinable
from information contained therein, including our compliance with any of our covenants hereunder (as to which the Trustee is entitled
to rely exclusively on officers&rsquo; certificates). The Trustee shall not be obligated to monitor or confirm, on a continuing basis
or otherwise, our compliance with the covenants or with respect to any reports or other documents filed with the SEC or website under
this Indenture or participate in any conference calls.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.04<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compliance Certificate</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall deliver to the Trustee, within 90 days after the end of each fiscal year ending after the Issue Date, an Officer&rsquo;s
Certificate stating that a review of the activities of the Company and its Restricted Subsidiaries during the preceding fiscal year has
been made under the supervision of the signing Officer with a view to determining whether the Company and each Guarantor have kept, observed,
performed and fulfilled their obligations under this Indenture, and further stating, as to such Officer signing such certificate, that
to the best of his or her knowledge, based on such review, the Company and each Guarantor have kept, observed, performed and fulfilled
each and every condition and covenant contained in this Indenture and is not in default in the performance or observance of any of the
terms, provisions, covenants and conditions of this Indenture (or, if a Default shall have occurred, describing all such Defaults of which
he or she may have knowledge and what action the Company and each Guarantor are taking or propose to take with respect thereto).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>When any Default has occurred and is continuing under this Indenture, or if the Trustee or the holder of any other evidence of
Indebtedness of the Company or any Subsidiary gives any notice or takes any other action with respect to a claimed Default, the Company
shall promptly (which shall be no more than 30 Business Days following the date on which the Company becomes aware of such Default, receives
such notice or becomes aware of such action, as applicable) send to the Trustee an Officer&rsquo;s Certificate specifying such event,
its status and what action the Company is taking or proposes to take with respect thereto.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.05<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Taxes</U>. The Company shall pay, and shall cause each of its Restricted Subsidiaries to pay, prior to delinquency, all material
taxes, assessments and governmental levies except such as are contested in good faith and by appropriate negotiations or proceedings or
where the failure to effect such payment is not adverse in any material respect to the Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.06<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Stay, Extension and Usury Laws</U>. The Company and each Guarantor covenants (to the extent that it may lawfully do so) that
it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension
or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture;
and the Company and each Guarantor (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any
such law, and covenants that it shall not, by resort to any such law, hinder, delay or impede the execution of any power herein granted
to the Trustee, but shall suffer and permit the execution of every such power as though no such law has been enacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.07<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Limitation on Restricted Payments</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall not, and shall not permit any of its Restricted Subsidiaries, directly or indirectly, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>declare or pay any dividend or make any distribution (whether made in cash, securities or other property) on or in respect of its
or any of its Restricted Subsidiaries&rsquo; Capital Stock (including any payment in connection with any merger, amalgamation, arrangement
or consolidation involving the Company or any of its Restricted Subsidiaries) other than:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>dividends or distributions payable solely in Capital Stock of the Company (other than Disqualified Stock); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>dividends or distributions by a Restricted Subsidiary of the Company, so long as, in the case of any dividend or distribution payable
on or in respect of any Capital Stock issued by a Restricted Subsidiary of the Company that is not a Wholly Owned Subsidiary, the Company
or any of its Restricted Subsidiaries holding such Capital Stock receives at least its <U>pro rata</U> share of such dividend or distribution;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>purchase, redeem, retire or otherwise acquire for value, including in connection with any merger, amalgamation, arrangement or
consolidation, any Capital Stock of the Company or any direct or indirect parent of the Company held by Persons other than the Company
or any of its Restricted Subsidiaries (other than in exchange for Capital Stock of the Company (other than Disqualified Stock));</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make any principal payment on, or purchase, repurchase, redeem, defease or otherwise acquire or retire for value, prior to any
scheduled repayment, scheduled sinking fund payment or scheduled maturity, any Subordinated Obligations or Guarantor Subordinated Obligations,
other than:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of the Company owing to and held by any Restricted Subsidiary or Indebtedness of a Restricted Subsidiary owing to
and held by the Company or any Restricted Subsidiary permitted under clause&nbsp;(5) of <U>Section&nbsp;4.09(b)</U>; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
purchase, repurchase, redemption, defeasance or other acquisition or retirement of Subordinated Obligations or Guarantor Subordinated
Obligations of any Guarantor purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity,
in each case due within one year of the date of purchase, repurchase, redemption, defeasance or other acquisition or retirement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make any Restricted Investment (all such payments and other actions referred to in clauses&nbsp;(1) through (4) (other than any
exception thereto) shall be referred to as a &ldquo;<FONT STYLE="font-weight: normal"><U>Restricted Payment</U></FONT>&rdquo;),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">unless, at the time of and after giving effect
to such Restricted Payment:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no Default shall have occurred and be continuing (or would result therefrom);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>immediately after giving effect to such transaction on a <U>pro forma</U> basis, the Company could Incur $1.00 of additional Indebtedness
under <U>Section&nbsp;4.09(a)</U>; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the aggregate amount of such Restricted Payment and all other Restricted Payments declared or made subsequent to the Issue Date
(without duplication and excluding Restricted Payments made pursuant to clauses&nbsp;(1), (2), (3), (4), (5), (7), (8), (10), (13), (15)
and (16) of <U>Section&nbsp;4.07(b)</U>) would not exceed the sum of (without duplication):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>50% of Consolidated Net Income for the period (treated as one accounting period) from January 1, 2022 to the end of the most recent
fiscal quarter ending prior to the date of such Restricted Payment for which financial statements are available (or, in case such Consolidated
Net Income is a deficit, minus 100% of such deficit); plus</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>100% of the aggregate Net Cash Proceeds, or Fair Market Value of assets, received by the Company from the issue or sale of its
Capital Stock (other than Disqualified Stock) or other capital contributions subsequent to the Issue Date, other than:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 3in; text-align: justify">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
Cash Proceeds, or Fair Market Value of assets received, by the Company from the issue or sale of such Capital Stock to a Subsidiary of
the Company or to an employee stock ownership plan, option plan or similar trust to the extent such sale to an employee stock ownership
plan or similar trust is</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-align: justify">financed by loans from or Guaranteed by the Company or any of its Restricted Subsidiaries unless such loans have
been repaid with cash on or prior to the date of determination; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-align: justify">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
Cash Proceeds received by the Company from the issue and sale of its Capital Stock or capital contributions to the extent applied to redeem
Notes in compliance with <U>Section&nbsp;3.07(b)</U>; <U>plus</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the amount by which Indebtedness of the Company or any of its Restricted Subsidiaries is reduced on the Company&rsquo;s consolidated
balance sheet upon the conversion or exchange (other than debt held by a Subsidiary of the Company) subsequent to the Issue Date of any
Indebtedness of the Company or any of its Restricted Subsidiaries convertible or exchangeable for Capital Stock (other than Disqualified
Stock) of the Company (less the amount of any cash, or the Fair Market Value of any other property, distributed by the Company upon such
conversion or exchange); <U>plus</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the amount equal to the net reduction in Restricted Investments made by the Company or any of its Restricted Subsidiaries in any
Person resulting from:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-align: justify">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;repurchases
or redemptions of such Restricted Investments by such Person, proceeds realized upon the sale of such Restricted Investment to an unaffiliated
purchaser, repayments of loans or advances or other transfers of assets (including by way of dividend or distribution) by such Person
to the Company or any of its Restricted Subsidiaries (other than for reimbursement of tax payments); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 3in; text-align: justify">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
redesignation of Unrestricted Subsidiaries as Restricted Subsidiaries of the Company or the merger, amalgamation, arrangement or consolidation
of an Unrestricted Subsidiary with and into the Company or any of its Restricted Subsidiaries (valued in each case as provided in the
definition of &ldquo;Investment&rdquo;) not to exceed the amount of Investments previously made by the Company or any of its Restricted
Subsidiaries in such Unrestricted Subsidiary, which amount in each case under this clause&nbsp;(iv) was included in the calculation of
the amount of Restricted Payments; provided, however, that no amount will be included under this</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in; text-align: justify">clause&nbsp;(iv) to the extent it is
already included in Consolidated Net Income; plus</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>$150.0 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The provisions of <U>Section&nbsp;4.07(a)</U> shall not prohibit:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Capital Stock, Disqualified Stock or Subordinated
Obligations of the Company or Guarantor Subordinated Obligations of any Guarantor made by exchange for, or out of the proceeds of the
substantially concurrent sale of, Capital Stock of the Company (other than Disqualified Stock and other than Capital Stock issued or sold
to a Subsidiary or an employee stock ownership plan or similar trust to the extent such sale to an employee stock ownership plan or similar
trust is financed by loans from or Guaranteed by the Company or any of its Restricted Subsidiaries unless such loans have been repaid
with cash on or prior to the date of determination); <U>provided</U>, <U>however</U>, that the Net Cash Proceeds from such sale of Capital
Stock will be excluded from clause&nbsp;(C)(ii) of <U>Section&nbsp;4.07(a)</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Subordinated Obligations of the Company
or Guarantor Subordinated Obligations of any Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale
of, Subordinated Obligations of the Company or any purchase, repurchase, redemption, defeasance or other acquisition or retirement of
Guarantor Subordinated Obligations of any Guarantor made by exchange for or out of the proceeds of the substantially concurrent sale of
Guarantor Subordinated Obligations of a Guarantor, so long as such refinancing Subordinated Obligations or Guarantor Subordinated Obligations
are permitted to be Incurred pursuant to <U>Section&nbsp;4.09</U> and constitute Refinancing Indebtedness;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Disqualified Stock of the Company or any
of its Restricted Subsidiaries made by exchange for or out of the proceeds of the substantially concurrent sale of Disqualified Stock
of the Company or such Restricted Subsidiary, as the case may be, so long as such refinancing Disqualified Stock is permitted to be Incurred
pursuant to <U>Section&nbsp;4.09</U> and constitutes Refinancing Indebtedness;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the purchase, repurchase, redemption, defeasance or other acquisition or retirement for value of any Subordinated Obligation (A)
at a purchase price not greater than 101% of the principal amount of such Subordinated Obligation in the event of a Change of Control
in accordance with provisions similar to <U>Section&nbsp;4.14</U> or (B) at a purchase price not greater than 100% of the principal amount
thereof in accordance with provisions similar to <U>Section&nbsp;4.10</U>; <U>provided</U> that, prior to or simultaneously with such
purchase, repurchase, redemption, defeasance or other acquisition or retirement, the Company has made the Change of Control Offer or Asset
Disposition Offer, as applicable, as provided in such covenant with respect to the Notes and has completed the repurchase</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">or redemption
of all Notes validly tendered for payment in connection with such Change of Control Offer or Asset Disposition Offer;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any purchase or redemption of Subordinated Obligations or Guarantor Subordinated Obligations from Net Available Cash to the extent
permitted under <U>Section&nbsp;4.10</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(a) dividends paid within 60 days after the date of declaration if at such date of declaration such dividend would have complied
with this <U>Section&nbsp;4.07</U> and (b) the redemption of Subordinated Obligations or Guarantor Subordinated Obligations within 60
days after the date on which notice of such redemption was given, if on the date of the giving of such notice of redemption, such redemption
would have complied with this <U>Section&nbsp;4.07</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the purchase, redemption or other acquisition, cancellation or retirement for value of Capital Stock or equity appreciation rights
of the Company held by any existing or former employees or directors of the Company or any Subsidiary of the Company or their assigns,
estates or heirs, in each case upon death, disability, retirement, severance or termination of employment or in connection with the repurchase
provisions under employee stock option or stock purchase agreements or other agreements to compensate employees or directors approved
by the Board of Directors; <U>provided</U> that such Capital Stock or equity appreciation rights were received for services related to,
or for the benefit of, the Company and its Restricted Subsidiaries; and <U>provided</U>, <U>further</U>, that such redemptions or repurchases
pursuant to this clause&nbsp;(7) shall not exceed $10.0 million in the aggregate during any calendar year (with any unused amounts in
any calendar year being carried over to the immediately succeeding calendar year, not to exceed $20.0 million in any calendar year), although
such amount in any calendar year may be increased by an amount not to exceed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Net Cash Proceeds from the sale of Capital Stock (other than Disqualified Stock) of the Company to existing or former employees
or directors of the Company or any of its Subsidiaries that occurs after the Issue Date, to the extent the Net Cash Proceeds from the
sale of such Capital Stock have not otherwise been applied to the payment of Restricted Payments (<U>provided</U> that the Net Cash Proceeds
from such sales or contributions shall be excluded from clause&nbsp;(C)(ii) of <U>Section&nbsp;4.07(a)</U>); <U>plus</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the cash proceeds of key man life insurance policies received by the Company or its Restricted Subsidiaries after the Issue Date;
<U>less</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the amount of any Restricted Payments previously made with the Net Cash Proceeds described in clauses&nbsp;(A) and (B) of this
clause&nbsp;(7);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the declaration and payment of dividends to holders of any class or series of Disqualified Stock of the Company issued in accordance
with the terms of this Indenture to the extent such dividends are included in the definition of &ldquo;Consolidated Interest Expense&rdquo;;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the declaration and payment of dividends on the Company&rsquo;s Capital Stock in an amount not to exceed $45.0 million in the aggregate
during any twelve-month period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>repurchases of Capital Stock deemed to occur upon the exercise of stock options, warrants, other rights to purchase Capital Stock
or other convertible securities or similar securities if such Capital Stock represents a portion of the exercise price thereof (or withholding
of Capital Stock to pay related withholding taxes with regard to the exercise of such stock options or the vesting of any such restricted
stock, restricted stock units, deferred stock units or any similar securities);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(11)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>payments in lieu of the issuance of fractional shares of Capital Stock in connection with any transaction otherwise permitted under
this <U>Section&nbsp;4.07</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(12)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>payments or distributions to holders of the Capital Stock of the Company or any of its Restricted Subsidiaries pursuant to appraisal
or dissenter rights required under applicable law or pursuant to a court order in connection with any merger, amalgamation, arrangement,
consolidation or sale, assignment, conveyance, transfer, lease or other disposition of assets;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(13)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the payment of any dividend by a Restricted Subsidiary of the Company that is not a Wholly Owned Subsidiary to the holders of Capital
Stock on a <U>pro rata</U> basis;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(14)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>payments or distributions of Capital Stock or assets of an Unrestricted Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(15)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>other Restricted Payments in an aggregate amount, when taken together with all other Restricted Payments made pursuant to this
clause&nbsp;(15), not to exceed the greater of (x) $60.0 million and (y) 10.0% of Total Assets;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(16)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>advances or loans to (a) any future, present or former officer, director, employee or consultant of the Company or a Restricted
Subsidiary to pay for the purchase or other acquisition for value of Capital Stock of the Company (other than Disqualified Stock), or
satisfy any obligation under a forward sale agreement, deferred purchase agreement or deferred payment arrangement pursuant to any management
equity plan or stock option plan or any other management or employee benefit or incentive plan or other agreement or arrangement or (b)
any management equity plan or stock option plan or any other management or employee benefit or incentive plan or unit trust or the trustees
of any such plan or trust to pay for the purchase or other acquisition for value of Capital Stock of the Company (other than Disqualified
Stock); provided that the total aggregate amount of Restricted Payments made under this clause&nbsp;(16) does not exceed $5.0 million
in any calendar year; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(17)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Restricted Payment; provided that the Leverage Ratio does not exceed 1.00 to 1.00 on a pro forma basis after giving effect
to any such Restricted Payment;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U>provided</U>, <U>however</U>, that at the
time of and after giving effect to, any Restricted Payment permitted under clauses&nbsp;(5), (7), (8), (15) and (17) above, no Default
or Event of Default shall have occurred and be continuing or would occur as a consequence thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The amount of all Restricted Payments (other than cash) shall be the Fair Market Value on the date of such Restricted Payment of
the assets or securities proposed to be transferred or issued by the Company or any of its Restricted Subsidiaries, as the case may be,
pursuant to such Restricted Payment. In the event that a Restricted Payment (or any portion thereof) or Permitted Investment (or any portion
thereof) meets the criteria of one or more of the categories of permitted Restricted Payments (or any portion thereof) or Permitted Investments
(or any portion thereof) described in the above clauses or the definitions thereof, the Company may, in its sole discretion, divide, classify
or reclassify, or later divide, classify or reclassify, such permitted Restricted Payment (or any portion thereof) or Permitted Investment
(or any portion thereof) in any manner that complies with this covenant and at the time of division, classification or reclassification
will be entitled to only include the amount and type of such Restricted Payment (or any portion thereof) or Permitted Investment (or any
portion thereof) in one of the categories of permitted Restricted Payments (or any portion thereof) or Permitted Investments (or any portion
thereof) described in the above clauses or the definitions thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The amount of all Restricted Payments paid in cash shall be its face amount. For purposes of determining compliance with any U.S.
dollar-denominated restriction on Restricted Payments, the U.S. dollar-equivalent of a Restricted Payment denominated in a foreign currency
shall be calculated based on the relevant currency exchange rate in effect on the date the Company or the Restricted Subsidiary, as the
case may be, first commits to such Restricted Payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For purposes of designating any Restricted Subsidiary of the Company as an Unrestricted Subsidiary, all outstanding Investments
by the Company and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be deemed to be Restricted
Payments in an amount determined as set forth in the definition of &ldquo;Investment.&rdquo; Such designation shall be permitted only
if a Restricted Payment in such amount would be permitted at such time and if such Subsidiary otherwise meets the definition of an Unrestricted
Subsidiary. Unrestricted Subsidiaries shall not be subject to any of the restrictive covenants set forth in this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.08<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Limitation on Restrictions on Distribution From Restricted Subsidiaries</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create or otherwise
cause or permit to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary
of the Company to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>pay dividends or make any other distributions on its Capital Stock to the Company or any of its Restricted Subsidiaries, or with
respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness or other obligations owed to the
Company or any of its Restricted Subsidiaries (it being understood that the priority of any Preferred Stock in receiving dividends or
liquidating distributions prior to</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">dividends or liquidating distributions being paid on Common Stock shall not be deemed a restriction
on the ability to make distributions on Capital Stock);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make any loans or advances to the Company or any of its Restricted Subsidiaries (it being understood that the subordination of
loans or advances made to the Company or any of its Restricted Subsidiaries to other Indebtedness Incurred by the Company or any of its
Restricted Subsidiaries shall not be deemed a restriction on the ability to make loans or advances); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>sell, lease or transfer any of its property or assets to the Company or any of its Restricted Subsidiaries (it being understood
that such transfers shall not include any type of transfer described in clause&nbsp;(1) or (2) above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The preceding provisions shall not prohibit encumbrances or restrictions existing under or by reason of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>this Indenture, the Notes and the Note Guarantees;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any agreement or instrument existing on the Issue Date (except for this Indenture, the Notes or the Note Guarantees);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(A) any agreement or other instrument of a Person acquired by the Company or any of its Restricted Subsidiaries in existence at
the time of such acquisition (but not created in contemplation thereof) or (B) any agreement or other instrument with respect to a Restricted
Subsidiary of the Company that was previously an Unrestricted Subsidiary pursuant to or by reason of an agreement that such Subsidiary
is a party to or entered into before the date on which such Subsidiary became a Restricted Subsidiary of the Company (but not created
in contemplation thereof), in the case of (A) and (B) above, which encumbrance or restriction is not applicable to any Person, or the
properties or assets of any Person, other than the Person and its Subsidiaries, or the property or assets of the Person and its Subsidiaries,
so acquired or so designated or deemed, as applicable (including after-acquired property);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any amendment, restatement, modification, renewal, supplement, refunding, replacement or refinancing of an agreement or instrument
referred to in clauses&nbsp;(2), (3) or (5) of this <U>Section&nbsp;4.08(b)</U>; <U>provided</U>, <U>however</U>, that such amendments,
restatements, modifications, renewals, supplements, refundings, replacements or refinancings are, in the good faith judgment of Senior
Management, not materially more restrictive, when taken as a whole, than the encumbrances and restrictions contained in the agreements
referred to in clauses&nbsp;(2), (3) or (5) of this <U>Section&nbsp;4.08(b)</U> on the Issue Date or the date such Restricted Subsidiary
became a Restricted Subsidiary of the Company or was merged into a Restricted Subsidiary of the Company, whichever is applicable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(A) customary non-assignment or subletting provisions in leases governing leasehold interests to the extent such provisions restrict
the transfer of the lease or the property leased thereunder and (B) security agreements or mortgages securing Indebtedness of a Restricted
Subsidiary of the Company to the extent such encumbrance</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">or restriction restricts the transfer of the property subject to such security
agreements or mortgages;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of clause&nbsp;(3) of <U>Section&nbsp;4.08(a)</U>, Liens permitted to be Incurred under <U>Section&nbsp;4.12</U> that
limit the right of the debtor to dispose of the assets securing such Indebtedness;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>purchase money obligations and Capitalized Lease Obligations permitted under this Indenture, in each case, that impose encumbrances
or restrictions of the nature described in clause&nbsp;(3) of <U>Section&nbsp;4.08(a)</U> on the property so acquired;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>contracts for the sale of assets, including customary restrictions with respect to a Subsidiary of the Company pursuant to an agreement
that has been entered into for the sale or disposition of all or a portion of the Capital Stock or assets of such Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>restrictions on cash or other deposits or net worth imposed by customers, suppliers or landlords under contracts entered into in
the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any customary provisions in joint venture, partnership and limited liability company agreements relating to joint ventures that
are not Restricted Subsidiaries of the Company and other similar agreements entered into in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(11)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any customary provisions in leases, subleases or licenses and other agreements entered into by the Company or any of its Restricted
Subsidiaries in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(12)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>encumbrances or restrictions arising or existing by reason of applicable law or any applicable rule, regulation or order;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(13)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(A) other Indebtedness Incurred or Preferred Stock issued by a Guarantor in accordance with <U>Section&nbsp;4.09</U> that, in the
good faith judgment of Senior Management, are not materially more restrictive, taken as a whole, than those applicable to the Company
in this Indenture on the Issue Date (which results in encumbrances or restrictions at a Restricted Subsidiary of the Company level comparable
to those applicable to the Company) or (B) other Indebtedness Incurred or Preferred Stock issued by a Non-Guarantor, in each case permitted
to be Incurred subsequent to the Issue Date pursuant to <U>Section&nbsp;4.09</U>; <U>provided</U> that with respect to clause&nbsp;(B),
such encumbrances or restrictions shall not materially affect the Company&rsquo;s ability to make anticipated principal and interest payments
on the Notes (in the good faith judgment of Senior Management);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(14)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any agreement with a governmental entity providing for developmental financing; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(15)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>customary non-assignment and non-transfer provisions of any contract, license or lease entered into in the ordinary course of business.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.09<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Limitation on Indebtedness</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness
(including Acquired Indebtedness); <U>provided</U>, <U>however</U>, that the Company and the Guarantors may Incur Indebtedness if on the
date thereof and after giving effect thereto on a <U>pro forma</U> basis:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Consolidated Coverage Ratio for the Company and its Restricted Subsidiaries is at least 2.00 to 1.00; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no Default or Event of Default will have occurred or be continuing or would occur as a consequence of Incurring the Indebtedness
or entering into the transactions relating to such Incurrence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The provisions of <U>Section&nbsp;4.09(a)</U> shall not prohibit the Incurrence of the following Indebtedness:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of the Company or any Guarantor Incurred under a Debt Facility (or of any Restricted Subsidiary of the Company that
is a borrower or guarantor under the Senior Credit Facility as of the Issue Date) and the issuance and creation of letters of credit,
bankers&rsquo; acceptances, performance or surety bonds and other similar instruments thereunder (with any such undrawn instruments and
reimbursement obligations relating to any payables that are satisfied within 30 days being deemed not to be Indebtedness, and bankers&rsquo;
acceptances being deemed to have a principal amount equal to the face amount thereof) in an aggregate amount not to exceed the greater
of (A) $150.0 million and (B) 24.0% of Total Assets;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness represented by the Notes (including any Note Guarantee) (other than any Additional Notes);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of the Company and any of its Restricted Subsidiaries in existence on the Issue Date (other than Indebtedness described
in clauses&nbsp;(1) and (2) of this <U>Section&nbsp;4.09(b)</U>);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Guarantees by (a) the Company or Guarantors of Indebtedness permitted to be Incurred by the Company or a Guarantor in accordance
with the provisions of this Indenture; <U>provided</U> that in the event such Indebtedness that is being Guaranteed is a Subordinated
Obligation or a Guarantor Subordinated Obligation, then the related Guarantee shall be subordinated in right of payment to the Notes or
the Note Guarantee, as the case may be, and (b) Non-Guarantors of Indebtedness Incurred by such Non-Guarantors in accordance with the
provisions of this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of the Company owing to and held by any of its Restricted Subsidiaries or Indebtedness of a Restricted Subsidiary
of the Company owing to and held by the Company or any other Restricted Subsidiary of the Company; <U>provided</U>, <U>however</U>, that:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the Company is the obligor on Indebtedness owing to a Non-Guarantor, such Indebtedness is expressly subordinated in right of
payment to all Obligations with respect to the Notes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if a Guarantor is the obligor on such Indebtedness and a Non-Guarantor is the obligee, such Indebtedness is expressly subordinated
in right of payment to the Note Guarantee of such Guarantor; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i)&#9;any subsequent issuance or transfer of Capital Stock or any other event which results in any such Indebtedness being beneficially
held by a Person other than the Company or any of its Restricted Subsidiaries; and</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">any sale or other transfer of any such Indebtedness to a Person other than the Company or any of its Restricted
Subsidiaries,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">shall be deemed, in each case under this
clause&nbsp;(5)(c), to constitute an Incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of (a) any Person Incurred and outstanding on the date on which such Person became a Restricted Subsidiary of the
Company or was acquired by, or merged into or amalgamated, arranged or consolidated with, the Company or any of its Restricted Subsidiaries
or (b) such Persons or the Company or any of its Restricted Subsidiaries Incurred (x) to provide all or any portion of the funds utilized
to consummate the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary of the Company
or was otherwise acquired by, or merged into or amalgamated, arranged or consolidated with the Company or (y) otherwise in connection
with, or in contemplation of, such acquisition, merger, amalgamation, arrangement or consolidation; <U>provided</U>, <U>however</U>, in
each case set forth in clause&nbsp;(a) or (b), that at the time such Person is acquired, merged, amalgamated, arranged or consolidated,
or such Indebtedness was Incurred, either:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company would have been able to Incur $1.00 of additional Indebtedness pursuant to <U>Section&nbsp;4.09(a)</U> after giving
effect to the Incurrence of such Indebtedness pursuant to this clause&nbsp;(6); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Consolidated Coverage Ratio of the Company and its Restricted Subsidiaries would have been no less than such ratio immediately
prior to such acquisition, merger, amalgamation, arrangement or consolidation after giving effect to the Incurrence of such Indebtedness
pursuant to this clause&nbsp;(6);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness under Hedging Obligations that are Incurred in the ordinary course of business (and not for speculative purposes)
(including the existing Hedging Obligations to the lenders and their respective affiliates under the Senior Credit Facility);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness (including Capitalized Lease Obligations) of the Company or any of its Restricted Subsidiaries Incurred to finance
the purchase, design,</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">lease, construction repair, replacement or improvement of any property (real or personal), plant or equipment used
or to be used in a Similar Business through the direct purchase of such property, plant or equipment, and any Indebtedness of the Company
or any of its Restricted Subsidiaries that serves to refund or refinance any Indebtedness Incurred pursuant to this clause&nbsp;(8), in
an aggregate outstanding principal amount which, when taken together with the principal amount of all other Indebtedness Incurred pursuant
to this clause&nbsp;(8) and then outstanding, shall not exceed the greater of (A) $100.0 million and (B) 16.0% of Total Assets, at any
time outstanding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness Incurred by the Company or any of its Restricted Subsidiaries in respect of (a) workers&rsquo; compensation claims,
health, disability or other employee benefits; (b) property, casualty or liability insurance, self-insurance obligations; and (c) statutory,
appeal, completion, export, import, customs, revenue, performance, bid, surety, reclamation, remediation and similar bonds and completion
Guarantees (not for borrowed money) provided in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness arising from agreements of the Company or any of its Restricted Subsidiaries providing for indemnification, adjustment
of purchase price, earn-out or similar obligations, in each case, Incurred or assumed in connection with the disposition of any business
or assets of the Company or any business, assets or Capital Stock of any of its Restricted Subsidiaries, other than Guarantees of Indebtedness
Incurred by any Person acquiring all or any portion of such business, assets or Capital Stock for the purpose of financing such acquisition;
<U>provided</U> that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the maximum aggregate liability in respect of all such Indebtedness shall at no time exceed the gross proceeds, including non-cash
proceeds (the Fair Market Value of such non-cash proceeds being measured at the time received and without giving effect to subsequent
changes in value) actually received by the Company and its Restricted Subsidiaries in connection with such disposition; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Indebtedness is not reflected as indebtedness on the balance sheet of the Company or any of its Restricted Subsidiaries (contingent
obligations referred to in a footnote to financial statements and not otherwise reflected on the balance sheet will not be deemed to be
reflected on such balance sheet for purposes of this clause&nbsp;(10));</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(11)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument (except
in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business; <U>provided</U>, <U>however</U>,
that such Indebtedness is extinguished within five Business Days of Incurrence;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(12)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness in the form of letters of credit and reimbursement obligations relating to letters of credit that are satisfied within
30 days of being drawn;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(13)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Incurrence or issuance by the Company or any of its Restricted Subsidiaries of Refinancing Indebtedness that serves (or will
serve) to refund or refinance any Indebtedness Incurred as permitted under <U>Section&nbsp;4.09(a)</U> and clauses&nbsp;(2), (3), (6)
and this clause&nbsp;(13) of this <U>Section&nbsp;4.09(b)</U>, or any Indebtedness issued to so refund or refinance</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">such Indebtedness,
including additional Indebtedness Incurred to pay premiums (including reasonable, as determined in good faith by Senior Management, tender
premiums), defeasance costs, accrued interest and fees and expenses in connection therewith;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(14)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of the Company or any of its Restricted Subsidiaries consisting of the financing of insurance premiums incurred in
the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(15)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of the Company or any of its Restricted Subsidiaries consisting of take-or-pay obligations contained in supply arrangements
incurred in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(16)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of the Company or any of its Restricted Subsidiaries in respect of Cash Management Agreements entered into in the
ordinary course of&nbsp;business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(17)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of the Company or any Restricted Subsidiary of the Company not to exceed the greater of (A) $25.0 million and (B)
4.0% of Total Assets, in the aggregate outstanding at the time of Incurrence;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(18)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Non-Recourse Debt;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(19)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of the Company, to the extent the net proceeds thereof are promptly: (a) used to purchase Notes tendered in connection
with a Change of Control Offer; or (b) deposited to defease the Notes pursuant to <U>Article&nbsp;8</U> or satisfy and discharge the Notes
pursuant to <U>Article&nbsp;11</U>; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(20)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in addition to the items referred to in clauses&nbsp;(1) through (19) above, Indebtedness of the Company and its Restricted Subsidiaries
in an aggregate outstanding principal amount which, when taken together with the principal amount of all other Indebtedness Incurred pursuant
to this clause&nbsp;(20) and then outstanding, shall not exceed the greater of (A) $150.0 million and (B) 24.0% of Total Assets, in the
aggregate outstanding at the time of Incurrence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall not Incur any Indebtedness under <U>Section&nbsp;4.09(b)</U> if the proceeds thereof are used, directly or indirectly,
to refinance any Subordinated Obligations of the Company unless such Indebtedness shall be subordinated to the Notes to at least the same
extent as such Subordinated Obligations. No Guarantor shall Incur any Indebtedness under <U>Section&nbsp;4.09(b)</U> if the proceeds thereof
are used, directly or indirectly, to refinance any Guarantor Subordinated Obligations of such Guarantor unless such Indebtedness shall
be subordinated to the obligations of such Guarantor under its Note Guarantee to at least the same extent as such Guarantor Subordinated
Obligations. No Restricted Subsidiary of the Company (other than a Guarantor) may Incur any Indebtedness if the proceeds are used to refinance
Indebtedness of the Company or a Guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For purposes of determining compliance with, and the outstanding principal amount of any particular Indebtedness Incurred pursuant
to and in compliance with, this <U>Section&nbsp;4.09</U>:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the event that Indebtedness meets the criteria of more than one of the types of Indebtedness described in <U>Section&nbsp;4.09(b)</U>
or can be incurred pursuant to <U>Section&nbsp;4.09(a)</U>, the Company, in its sole discretion, may classify such item of Indebtedness
on the date of Incurrence and may later reclassify such item of Indebtedness in any manner that complies with <U>Section&nbsp;4.09(a)</U>
or <U>4.09(b)</U> and only be required to include the amount and type of such Indebtedness in <U>Section&nbsp;4.09(a)</U> or one of such
clauses under <U>Section&nbsp;4.09(b)</U>; <U>provided</U> that all Indebtedness outstanding under the Senior Credit Facility on the Issue
Date will be treated as Incurred on the Issue Date under clause&nbsp;(1) of <U>Section&nbsp;4.09(b)</U> and may not be reclassified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness that is otherwise included in the determination
of a particular amount of Indebtedness shall not be included;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if obligations in respect of letters of credit are Incurred pursuant to a Debt Facility and are being treated as Incurred pursuant
to clause&nbsp;(1) of <U>Section&nbsp;4.09(b)</U> and the letters of credit relate to other Indebtedness, then such other Indebtedness
shall not be included;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the principal amount associated with any Disqualified Stock of the Company or any of its Restricted Subsidiaries, or Preferred
Stock of a Non-Guarantor, shall be equal to the greater of the maximum mandatory redemption or repurchase price (not including, in either
case, any redemption or repurchase premium) or the liquidation preference thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness permitted by this <U>Section&nbsp;4.09</U> need not be permitted solely by reference to one provision permitting such
Indebtedness but may be permitted in part by one such provision and in part by one or more other provisions of this <U>Section&nbsp;4.09</U>
permitting such Indebtedness;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the principal amount of any Indebtedness outstanding in connection with a securitization transaction or series of securitization
transactions is the amount of obligations outstanding under the legal documents entered into as part of such transaction that would be
characterized as principal if such transaction were structured as a secured lending transaction rather than as a purchase relating to
such transaction; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the amount of Indebtedness issued at a price that is less than the principal amount thereof shall be equal to the amount of the
liability in respect thereof determined in accordance with IFRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">Accrual of interest, accrual
of dividends, the accretion of accreted value, the amortization of debt discount, the payment of interest in the form of additional Indebtedness
and the payment of dividends in the form of additional shares of Preferred Stock or Disqualified Stock shall not be deemed to be an Incurrence
of Indebtedness for purposes of this <U>Section&nbsp;4.09</U>. The amount of any Indebtedness outstanding as of any date shall be (i)
the accreted value thereof in the case of any Indebtedness issued with original issue discount or the aggregate principal amount outstanding
in the case of Indebtedness issued with interest payable in kind and (ii) the principal</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">amount or liquidation preference thereof, together
with any interest thereon that is more than 30 days past due, in the case of any other Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">In addition, the Company
shall not permit any of its Unrestricted Subsidiaries to Incur any Indebtedness or issue any shares of Disqualified Stock, other than
Non-Recourse Debt. If at any time an Unrestricted Subsidiary becomes a Restricted Subsidiary of the Company, any Indebtedness of such
Subsidiary shall be deemed to be Incurred by a Restricted Subsidiary of the Company as of such date (and, if such Indebtedness is not
permitted to be Incurred as of such date under this <U>Section&nbsp;4.09</U>, the Company shall be in Default of this <U>Section&nbsp;4.09</U>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">In connection with the Company&rsquo;s
or a Restricted Subsidiary&rsquo;s entry into an instrument containing a binding commitment in respect of any revolving Indebtedness,
the Company may elect, pursuant to an Officer&rsquo;s Certificate delivered to the Trustee, to treat all or any portion of such commitment
(any such amount elected, an &ldquo;<FONT STYLE="font-weight: normal"><U>Elected Amount</U></FONT>&rdquo;) under any Indebtedness which
is to be incurred (or any commitment in respect thereof) or secured by a Lien, as the case may be, as being incurred as of such election
date, and (i) any subsequent incurrence of Indebtedness under such commitment (so long as the total amount under such Indebtedness does
not exceed the Elected Amount) shall not be deemed, for purposes of any calculation under this Indenture, to be an incurrence of additional
Indebtedness or an additional Lien at such subsequent time and (ii) for purposes of all subsequent calculations under this Indenture,
the Elected Amount (if any) shall be deemed to be outstanding, whether or not such amount is actually outstanding, so long as the applicable
commitment remains outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">For purposes of determining
compliance with any U.S. dollar-denominated restriction on the Incurrence of Indebtedness, the U.S. dollar-equivalent principal amount
of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date
such Indebtedness was Incurred, in the case of term Indebtedness, or first committed, in the case of revolving credit Indebtedness; <U>provided</U>
that if such Indebtedness is Incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause
the applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the
date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal
amount of such Refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. Notwithstanding any
other provision of this covenant, the maximum amount of Indebtedness that the Company may Incur pursuant to this covenant shall not be
deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. The principal amount of any Indebtedness
Incurred to refinance other Indebtedness, if Incurred in a different currency from the Indebtedness being refinanced, shall be calculated
based on the currency exchange rate applicable to the currencies in which such Refinancing Indebtedness is denominated that is in effect
on the date of such refinancing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Asset Dispositions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall not, and shall not permit any of its Restricted Subsidiaries to, cause, make or suffer to exist any Asset Disposition
unless:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company or such Restricted Subsidiary, as the case may be, receives consideration at least equal to the Fair Market Value of
the shares and assets subject to such Asset Disposition; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>at least 75% of the consideration from such Asset Disposition received by the Company or such Restricted Subsidiary, as the case
may be, is in the form of cash or Cash Equivalents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">For the purposes
of clause&nbsp;(2) above and for no other purpose, the following will be deemed to be cash:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any liabilities (as shown on the Company&rsquo;s or such Restricted Subsidiary&rsquo;s most recent balance sheet) of the Company
or any of its Restricted Subsidiaries (other than liabilities that are by their terms subordinated to the Notes or the Note Guarantees)
that are assumed by the transferee of any such assets and from which the Company and all such Restricted Subsidiaries have been validly
released by all creditors in writing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Designated Non-cash Consideration received by the Company or any of its Restricted Subsidiaries in such Asset Disposition having
an aggregate Fair Market Value, taken together with all other Designated Non-cash Consideration received pursuant to this clause&nbsp;(ii)
that is at that time outstanding, not to exceed the greater of (x) $30.0 million and (y) 5.0% of Total Assets at the time of the receipt
of such Designated Non-cash Consideration; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any securities, notes or other obligations received by the Company or any of its Restricted Subsidiaries from the transferee that
are converted by the Company or such Restricted Subsidiary into cash or Cash Equivalents (to the extent of the cash or Cash Equivalents
received) within 180 days following the closing of such Asset Disposition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">With respect to any
Asset Disposition, the determination of compliance with clauses&nbsp;(1) and (2) above may be made, at the Company&rsquo;s option, on
either (x) the date on which such Asset Disposition is completed or (y) the date on which a definitive agreement for such Asset Disposition
is entered into.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Within 365 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash, the Company or
such Restricted Subsidiary, as the case may be, may apply an amount equal to 100% of the Net Available Cash from such Asset Disposition
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to permanently reduce (and permanently reduce commitments with respect thereto) Secured Indebtedness of the Company (other than
any Disqualified Stock or Subordinated Obligations) or Secured Indebtedness of a Restricted Subsidiary of the Company (other than any
Disqualified Stock or Guarantor Subordinated Obligations), in each case other than Indebtedness owed to the Company or a Restricted Subsidiary
of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to permanently reduce obligations under other Indebtedness of the Company (other than any Disqualified Stock or Subordinated Obligations)</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0in">or other Indebtedness of a Restricted Subsidiary of the Company (other than any Disqualified Stock or Guarantor Subordinated Obligations),
in each case other than Indebtedness owed to the Company or an Affiliate of the Company; <U>provided</U> that the Company shall equally
and ratably reduce Obligations under the Notes as provided under <U>Section&nbsp;3.07</U>, through open market purchases (to the extent
such purchases are at or above 100% of the principal amount thereof) or by making an offer (in accordance with the procedures set forth
in <U>Section&nbsp;3.10</U> and this <U>Section&nbsp;4.10</U> for an Asset Disposition Offer) to all Holders to purchase their Notes at
100% of the principal amount thereof, plus the amount of accrued but unpaid interest on the amount of Notes that would otherwise be prepaid;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to invest in Additional Assets; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(D)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any combination of the foregoing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U>provided</U> that pending the final application
of any such Net Available Cash in accordance with clause&nbsp;(A), (B), (C) or (D) above, the Company and its Restricted Subsidiaries
may temporarily reduce Indebtedness or otherwise invest such Net Available Cash in any manner not prohibited by this Indenture; <U>provided,
further,</U> that in the case of clause&nbsp;(3)(C) above, a binding commitment to invest in Additional Assets shall be treated as a permitted
application of the Net Available Cash from the date of such commitment so long as the Company or such other Restricted Subsidiary enters
into such commitment with the good faith expectation that such Net Available Cash shall be applied to satisfy such commitment within 180
days of such commitment (an &ldquo;<FONT STYLE="font-weight: normal"><U>Acceptable Commitment</U></FONT>&rdquo;) and, in the event any
Acceptable Commitment is later cancelled or terminated for any reason before the Net Available Cash is applied in connection therewith,
the Company or such Restricted Subsidiary enters into another Acceptable Commitment (a &ldquo;<FONT STYLE="font-weight: normal"><U>Second
Commitment</U></FONT>&rdquo;) within 180 days of such cancellation or termination; <U>provided</U>, <U>however</U>, that if a Second Commitment
is later canceled or terminated for any reason before such Net Available Cash is applied, then such Net Available Cash shall constitute
Excess Proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any Net Available Cash from Asset Dispositions that is not applied or invested as provided in <U>Section&nbsp;4.10(a)</U> shall
be deemed to constitute &ldquo;<FONT STYLE="font-weight: normal"><U>Excess Proceeds</U></FONT>.&rdquo; On the 366<SUP>th</SUP> day after
an Asset Disposition, if the aggregate amount of Excess Proceeds exceeds $30.0 million, the Company shall make an offer (&ldquo;<FONT STYLE="font-weight: normal"><U>Asset
Disposition Offer</U></FONT>&rdquo;) to all Holders and, to the extent required by the terms of outstanding Pari Passu Indebtedness, to
all holders of such Pari Passu Indebtedness, to purchase the maximum aggregate principal amount of Notes and any such Pari Passu Indebtedness
that may be purchased out of the Excess Proceeds, at an offer price in cash in an amount equal to 100% of the principal amount thereof,
plus accrued and unpaid interest, if any, to the date of purchase (subject to the right of Holders of record on the relevant Record Date
to receive interest due on the relevant Interest Payment Date), in accordance with the procedures set forth in <U>Section&nbsp;3.10</U>
and the agreements governing the Pari Passu Indebtedness, as applicable, in each case in denominations of $2,000 and larger integral multiples
of $1,000 in excess thereof. The Company shall commence an Asset Disposition Offer with respect to Excess Proceeds by mailing (or otherwise
communicating in accordance with the procedures of DTC) the notice required by <U>Section&nbsp;3.10</U>, with a copy to the Trustee.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">To the extent that the aggregate
amount of Notes and Pari Passu Indebtedness validly tendered and not validly withdrawn pursuant to an Asset Disposition Offer is less
than the Excess Proceeds, the Company may use any remaining Excess Proceeds for general corporate purposes, subject to other covenants
contained in this Indenture. If the aggregate principal amount of Notes surrendered by Holders thereof and other Pari Passu Indebtedness
surrendered by holders or lenders, collectively, exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and Pari Passu
Indebtedness to be purchased on a pro rata basis on the basis of the aggregate accreted value or principal amount of tendered Notes and
Pari Passu Indebtedness. Upon completion of such Asset Disposition Offer, regardless of the amount of Excess Proceeds used to purchase
Notes pursuant to such Asset Disposition Offer, the amount of Excess Proceeds shall be reset at zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall comply with all applicable securities laws and regulations, including, without limitation, Canadian Securities
Legislation and the requirements of Rule 14e-1 under the Exchange Act and any other securities laws or regulations thereunder to the extent
those laws and regulations are applicable in connection with the repurchase of Notes pursuant to an Asset Disposition Offer. To the extent
that the provisions of any applicable securities laws or regulations conflict with the provisions of this Indenture, the Company shall
comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this
Indenture by virtue of any conflict.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Transactions with Affiliates</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, enter into or conduct
any transaction (including the purchase, sale, lease or exchange of any property or asset or the rendering of any service) with any Affiliate
of the Company (an &ldquo;<FONT STYLE="font-weight: normal"><U>Affiliate Transaction</U></FONT>&rdquo;) involving aggregate consideration
in excess of $5.0 million<I>, </I><U>unless</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the terms of such Affiliate Transaction are no less favorable to the Company or such Restricted Subsidiary, as the case may be,
than those that could have been obtained by the Company or such Restricted Subsidiary in a comparable transaction at the time of such
transaction in arms&rsquo; length dealings with a Person that is not an Affiliate; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the event such Affiliate Transaction involves an aggregate consideration in excess of $25.0 million, the terms of such transaction
have been approved by a majority of the members of the Board of Directors of the Company and by a majority of the members of such Board
of Directors having no personal stake in such transaction, if any (and such majority or majorities, as the case may be, determines that
such Affiliate Transaction satisfies the criteria in clause&nbsp;(1) above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Section&nbsp;4.11(a)</U> shall not apply to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any transaction between the Company and any of its Restricted Subsidiaries or between any Restricted Subsidiaries of the Company
and any Guarantees</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">issued by the Company or a Restricted Subsidiary of the Company for the benefit of the Company or any of its Restricted
Subsidiaries, as the case may be, in accordance with <U>Section&nbsp;4.09</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Restricted Payment permitted to be made pursuant to <U>Section&nbsp;4.07</U> and any Permitted Investments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any issuance of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or as the funding
of, employment agreements and severance and other compensation arrangements, options to purchase Capital Stock of the Company, restricted
stock plans, long-term incentive plans, stock appreciation rights plans, participation plans or similar employee benefits plans and/or
indemnity provided on behalf of Officers, directors and employees approved by the Board of Directors of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the payment of reasonable and customary fees and reimbursements or employee benefits paid to, and indemnity provided on behalf
of, directors, Officers, employees or consultants of the Company or any of its Restricted Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any agreement as in effect as of the Issue Date, as these agreements may be amended, modified, supplemented, extended or renewed
from time to time, so long as any such amendment, modification, supplement, extension or renewal is not more disadvantageous to the Holders
in any material respect in the good faith judgment of the Board of Directors of the Company, when taken as a whole, than the terms of
the agreements in effect on the Issue Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any agreement between any Person and an Affiliate of such Person existing at the time such Person is acquired by, or merged into
or amalgamated, arranged or consolidated with the Company or any of its Restricted Subsidiaries; <U>provided</U> that such agreement was
not entered into in contemplation of such acquisition, merger, amalgamation, arrangement or consolidation, and any amendment thereto (so
long as any such amendment is not disadvantageous to the Holders in the good faith judgment of the Board of Directors of the Company,
when taken as a whole, as compared to the applicable agreement as in effect on the date of such acquisition, merger, amalgamation, arrangement
or consolidation);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>transactions with customers, clients, suppliers, joint venture partners or purchasers or sellers of goods or services or any management
services or support agreements, in each case in the ordinary course of the business of the Company and its Restricted Subsidiaries and
otherwise in compliance with the terms of this Indenture; <U>provided</U> that in the reasonable determination of the members of the Board
of Directors or Senior Management of the Company, such transactions or agreements are on terms that are not materially less favorable,
when taken as a whole, to the Company or the relevant Restricted Subsidiary than those that could have been obtained at the time of such
transactions or agreements in a comparable transaction or agreement by the Company or such Restricted Subsidiary with an unrelated Person;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any transaction with a Restricted Subsidiary of the Company, joint venture or similar entity which would constitute an Affiliate
Transaction solely because the Company or any of its Restricted Subsidiaries owns any equity interest in or otherwise controls such Restricted
Subsidiary, joint venture or similar entity; <U>provided</U> that no Affiliate of the Company, other than the Company or any of its Restricted
Subsidiaries, shall have a beneficial interest or otherwise participate in such Restricted Subsidiary, joint venture or similar entity
other than through such Affiliate&rsquo;s ownership of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>transactions between the Company or any of its Restricted Subsidiaries and any Person that is an Affiliate solely because one or
more of its directors is also a director of the Company or any of its Restricted Subsidiaries; <U>provided</U> that such director abstains
from voting as a director of the Company or such Restricted Subsidiary, as the case may be, on any matter involving such other Person;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(a) any merger, amalgamation, arrangement, consolidation or other reorganization of the Company with an Affiliate solely for the
purpose and with the sole effect of forming a holding company or reincorporating the Company in a new jurisdiction, and (b) any transaction
or series of related transactions between or among the Company and any of its Subsidiaries implemented in connection with any corporate
restructuring, to the extent that the terms of any such transaction or series of related transactions under this clause&nbsp;(b), taken
as a whole, are not disadvantageous to the Holders of the Notes in any material respect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(11)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the entering into of a tax sharing agreement, or payments pursuant thereto, between the Company and one or more Subsidiaries, on
the one hand, and any other Person with which the Company and such Subsidiaries are required or permitted to file a consolidated tax return
or with which the Company and such Subsidiaries are part of a consolidated group for tax purposes, on the other hand;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(12)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any employment, deferred compensation, consulting, non-competition, confidentiality or similar agreement entered into by the Company
or any of its Restricted Subsidiaries with its employees or directors in the ordinary course of business and payments and other benefits
(including bonus, retirement, severance, health, stock option and other benefit plans) pursuant thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(13)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>pledges of Capital Stock or Indebtedness of Unrestricted Subsidiaries; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(14)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>transactions in which the Company or any of its Restricted Subsidiaries delivers to the Trustee a letter from an Independent Financial
Advisor stating that such transaction is fair to the Company or such Restricted Subsidiary from a financial point of view or stating that
the terms are not materially less favorable, when taken as a whole, than those that might reasonably have been obtained by the Company
or such Restricted Subsidiary in a comparable transaction at such time on an arms&rsquo; length basis from a Person that is not an Affiliate.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Limitation on Liens</U>. The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly,
create, Incur, assume or suffer to exist any Lien (other than Permitted Liens) upon any of its property or assets (including Capital Stock
of Subsidiaries), whether owned on the Issue Date or acquired after that date, which Lien is securing any Indebtedness, unless contemporaneously
with the Incurrence of such Liens:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of Liens securing Subordinated Obligations or Guarantor Subordinated Obligations, the Notes and related Note Guarantees
are secured by a Lien on such property or assets that is senior in priority to such Liens; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in all other cases, the Notes and related Note Guarantees are equally and ratably secured or are secured by a Lien on such property
or assets that is senior in priority to such Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Any Lien created for the
benefit of Holders pursuant to this <U>Section&nbsp;4.12</U> shall be automatically and unconditionally released and discharged upon the
release and discharge of each of the Liens described in clauses&nbsp;(1) and (2) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Corporate Existence</U>. Subject to <U>Article&nbsp;5</U>, the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect (1) its corporate existence and the corporate, partnership, limited liability company or other
existence of each of its Restricted Subsidiaries, in accordance with the respective organizational documents (as the same may be amended
from time to time) of the Company or any such Restricted Subsidiary and (2) the rights (charter and statutory), licenses and franchises
of the Company and its Restricted Subsidiaries; <U>provided</U> that the Company shall not be required to preserve any such right, license
or franchise, or the corporate, partnership, limited liability company or other existence of any of its Restricted Subsidiaries, if the
Company in good faith shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company
and its Restricted Subsidiaries, taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Offer to Repurchase Upon Change of Control Triggering Event</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If a Change of Control Triggering Event occurs, unless the Company has given notice to redeem all of the outstanding Notes pursuant
to <U>Section&nbsp;3.03</U> and <U>Section&nbsp;3.07</U> or <U>3.09</U>, the Company shall, within 30 days following any Change of Control
Triggering Event, make an offer to purchase all of the outstanding Notes (a &ldquo;<FONT STYLE="font-weight: normal"><U>Change of Control
Offer</U></FONT>&rdquo;) at a purchase price in cash equal to 101% of the principal amount of such outstanding Notes plus accrued and
unpaid interest, if any, to the date of purchase (the &ldquo;<FONT STYLE="font-weight: normal"><U>Change of Control Payment</U></FONT>&rdquo;)
(subject to the right of Holders of record on the relevant Record Date to receive interest due on an Interest Payment Date falling on
or prior to the Change of Control Payment Date). The Company shall mail a notice of such Change of Control Offer to each Holder or otherwise
give notice in accordance with the applicable procedures of DTC, with a copy to the Trustee, stating:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that a Change of Control Offer is being made pursuant to this <U>Section&nbsp;4.14</U> and that all Notes properly tendered pursuant
to such Change of Control Offer will be accepted for purchase by the Company at a purchase price in cash equal to 101% of the principal
amount of such Notes plus accrued and unpaid interest, if any, to the date</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">of purchase (subject to the right of Holders of record on the
relevant Record Date to receive interest due on an Interest Payment Date falling on or prior to the Change of Control Payment Date);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the purchase date (which shall be no earlier than 30 days nor later than 60 days from the date such notice is mailed) (the &ldquo;<FONT STYLE="font-weight: normal"><U>Change
of Control Payment Date</U></FONT>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that Notes must be tendered in integral multiples of $1,000, and any Note not properly tendered will remain outstanding and continue
to accrue interest;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that, unless the Company defaults in the payment of the Change of Control Payment, any Note accepted for payment pursuant to the
Change of Control Offer will cease to accrue interest on and after the Change of Control Payment Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that Holders electing to have a Note purchased pursuant to a Change of Control Offer shall be required to (i) surrender such Note,
with the form entitled &ldquo;Option of Holder to Elect Purchase&rdquo; on the reverse of such Note completed, or (ii) transfer such Note
by book-entry transfer, in either case, to the Company, the Depositary, if applicable, or a Paying Agent at the address specified in the
notice prior to the close of business on the third Business Day preceding the Change of Control Payment Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that Holders shall be entitled to withdraw their tendered Notes and their election to require the Company to purchase such Notes;
<U>provided</U> that if the Company, the Depositary or the Paying Agent, as the case may be, receives at the address specified in the
notice, not later than the close of business on the 20<SUP>th</SUP> Business Day following the date of the Change of Control notice, a
facsimile transmission or letter setting forth the name of the Holder of the Notes, the principal amount of Notes tendered for purchase,
and a statement that such Holder is withdrawing its tendered Notes and its election to have such Notes purchased;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that if a Holder is tendering less than all of its Notes, such Holder will be issued new Notes equal in principal amount to the
unpurchased portion of the Notes surrendered (the unpurchased portion of the Notes must be equal to $2,000 or an integral multiple of
$1,000 in excess thereof); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any other instructions, as determined by the Company consistent with this <U>Section&nbsp;4.14</U>, that a Holder must follow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The notice, if sent in a
manner herein provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice. If (A) the
notice is sent in a manner herein provided and (B) any Holder fails to receive such notice or a Holder receives such notice but it is
defective, such Holder&rsquo;s failure to receive such notice or such defect shall not affect the validity of the proceedings for the
purchase of the Notes as to all other Holders that properly received such notice without defect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>On the Change of Control Payment Date, the Company shall, to the extent lawful:</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>accept for payment all Notes or portions of Notes (of $2,000 or larger integral multiples of $1,000 in excess thereof) validly
tendered and not validly withdrawn pursuant to the Change of Control Offer;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes so
accepted for payment; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>deliver or cause to be delivered to the Trustee for cancellation the Notes so accepted for payment together with an Officer&rsquo;s
Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company in accordance with the
terms of this <U>Section&nbsp;4.14</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Paying Agent shall promptly mail to each Holder of Notes so accepted for payment the Change of Control Payment for such Notes,
and the Trustee shall promptly authenticate and mail (or cause to be transferred by book entry) to each such Holder a new Note equal in
principal amount to any unpurchased portion of the Notes surrendered, if any; <U>provided</U> that each such new Note shall be in a principal
amount of $2,000 or integral multiples of $1,000 in excess thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Change of Control Payment Date is on or after the relevant Record Date and on or before the related Interest Payment Date,
the accrued and unpaid interest , if any, shall be paid on such Interest Payment Date to the Person in whose name the Note is registered
at the close of business on such Record Date, and no additional interest shall be payable to Holders whose Notes are tendered pursuant
to the Change of Control Offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall not be required to make a Change of Control Offer upon a Change of Control Triggering Event if a third party
makes an offer to purchase all of the outstanding Notes in the manner, at the times and otherwise in compliance with the requirements
set forth in this <U>Section&nbsp;4.14</U> applicable to a Change of Control Offer and such third party purchases all Notes validly tendered
and not validly withdrawn pursuant to such offer to purchase. Notwithstanding anything to the contrary contained herein, a Change of Control
Offer may be made in advance of a Change of Control or a Change of Control Triggering Event, and conditioned upon the occurrence of such
Change of Control or Change of Control Triggering Event, if a definitive agreement is in place for the Change of Control at the time the
Change of Control Offer is made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall comply with all applicable securities laws and regulations, including, without limitation, Canadian Securities
Legislation and the requirements of Rule 14e-1 under the Exchange Act and any other securities laws or regulations thereunder to the extent
those laws and regulations are applicable in connection with the repurchase of Notes pursuant to a Change of Control Offer. To the extent
that the provisions of any applicable securities laws or regulations conflict with provisions of this Indenture, the Company shall comply
with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Indenture by virtue
of the conflict.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Other than as specifically provided in this <U>Section&nbsp;4.14</U>, any purchase pursuant to this <U>Section&nbsp;4.14</U> shall
be made pursuant to the provisions of <U>Sections&nbsp;3.02</U>, <U>3.05</U> and <U>3.06</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.15<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Additional Note Guarantees</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall cause each of its Restricted Subsidiaries, other than an Excluded Subsidiary, that is not a Guarantor to execute
and deliver to the Trustee a supplemental indenture to this Indenture, the form of which is attached as <U>Exhibit&nbsp;C</U> hereto,
pursuant to which such Restricted Subsidiary shall, subject to <U>Section&nbsp;4.15(d)</U>, irrevocably and unconditionally Guarantee,
on a joint and several basis, the full and prompt payment of the principal of, premium, if any, and interest in respect of the Notes on
a senior basis and all other obligations under this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The obligations of each Guarantor shall be limited to the maximum amount as will, after giving effect to all other contingent and
fixed liabilities of such Guarantor and after giving effect to any collections from or payments made by or on behalf of any other Guarantor
in respect of the obligations of such other Guarantor under its Note Guarantee or pursuant to its contribution obligations under this
Indenture, result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent conveyance or fraudulent
transfer under Canadian federal or provincial law or U.S. federal or state law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Note Guarantee shall be released in accordance with the provisions of <U>Section&nbsp;10.06</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding anything to the contrary contained in this Indenture, a Note Guarantee provided pursuant to this <U>Section&nbsp;4.15</U>
by a Restricted Subsidiary that is organized in a jurisdiction located outside of the United States or Canada may be a Limited Guarantee
if the Board of Directors, in consultation with local counsel, makes a reasonable determination that such limitations are required due
to legal requirements within such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;4.16<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Effectiveness of Covenants</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Following the first day (a &ldquo;<FONT STYLE="font-weight: normal"><U>Suspension Date</U></FONT>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Notes have an Investment Grade Rating from at least two of the Rating Agencies; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no Default or Event of Default has occurred and is continuing under this Indenture (the occurrence of the events described in the
foregoing clauses&nbsp;(1) and (2) being collectively referred to as a &ldquo;<FONT STYLE="font-weight: normal"><U>Covenant Suspension
Event</U></FONT>&rdquo;),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">the Company and its
Restricted Subsidiaries shall not be subject to the provisions of <U>Sections&nbsp;4.07</U>, <U>4.08</U>, <U>4.09</U>, <U>4.10</U>, <U>4.11</U>,
<U>4.15</U> and <U>5.01(a)(4)</U> (collectively, the &ldquo;<FONT STYLE="font-weight: normal"><U>Suspended Covenants</U></FONT>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Upon the occurrence of a Covenant Suspension Event, the amount of Excess Proceeds shall be set at zero. In addition, the Note Guarantees
will be suspended as of the</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Suspension Date. If at any time the Notes no longer have an Investment Grade Rating from at least two of the
Rating Agencies or if a Default or Event of Default occurs and is continuing, then the Suspended Covenants shall thereafter be reinstated
as if such covenants had never been suspended (the &ldquo;<FONT STYLE="font-weight: normal"><U>Reinstatement Date</U></FONT>&rdquo;) and
be applicable with respect to future events pursuant to the terms of this Indenture (including in connection with performing any calculation
or assessment to determine compliance with the terms of this Indenture) and the Note Guarantees will be reinstated, unless and until the
Notes subsequently attain an Investment Grade Rating from at least two of the Rating Agencies and no Default or Event of Default is in
existence (in which event the Suspended Covenants shall no longer be in effect for such time that the Notes maintain an Investment Grade
Rating from at least two of the Rating Agencies and no Default or Event of Default is in existence); <U>provided</U>, <U>however</U>,
that no Default, Event of Default or breach of any kind shall be deemed to exist under this Indenture, the Notes or the Note Guarantees
with respect to the Suspended Covenants based on, and none of the Company or any of its Subsidiaries shall bear any liability for, any
actions taken or events occurring during the Suspension Period (as defined below), regardless of whether such actions or events would
have been permitted if the applicable Suspended Covenants remained in effect during such period. The period of time between the date of
suspension of the covenants and the Reinstatement Date is referred to as the &ldquo;<FONT STYLE="font-weight: normal"><U>Suspension Period</U></FONT>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>On the Reinstatement Date, all Indebtedness Incurred during the Suspension Period shall be classified to have been Incurred pursuant
to <U>Section&nbsp;4.09(a)</U> or one of the clauses set forth in <U>Section&nbsp;4.09(b)</U> (to the extent such Indebtedness would be
permitted to be Incurred thereunder as of the Reinstatement Date and after giving effect to Indebtedness Incurred prior to the Suspension
Period and outstanding on the Reinstatement Date). To the extent such Indebtedness would not be so permitted to be Incurred pursuant to
<U>Section&nbsp;4.09(a)</U> or <U>(b)</U>, such Indebtedness shall be deemed to have been outstanding on the Issue Date, so that it is
classified under clause&nbsp;(3) of <U>Section&nbsp;4.09(b)</U>. Calculations made after the Reinstatement Date of the amount available
to be made as Restricted Payments under <U>Section&nbsp;4.07</U> shall be made as though <U>Section&nbsp;4.07</U> had been in effect prior
to, but not during, the Suspension Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>During any period when the Suspended Covenants are suspended, the Board of Directors of the Company may not designate any of the
Company&rsquo;s Subsidiaries as Unrestricted Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All obligations to grant Note Guarantees shall be reinstated upon the Reinstatement Date. In addition, for the purposes of the
covenants described under <U>Sections&nbsp;4.08</U> and <U>4.11</U>, all agreements and arrangements entered into during the Suspension
Period and prior to the Reinstatement Date shall be deemed to have been entered into and existing prior to the Issue Date. On and after
any Reinstatement Date, the Company and its Subsidiaries shall be permitted to consummate the transactions contemplated by any contract
entered into during the Suspension Period, so long as such contract or consummation thereof would have been permitted during such Suspension
Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall provide the Trustee and the Holders with prompt written notice of any suspension of the Suspended Covenants or
the subsequent reinstatement of such Suspended Covenants.</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
5<BR>
<BR>
SUCCESSORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;5.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Merger, Amalgamation, Arrangement, Consolidation or Sale of All or Substantially All Assets</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall not merge with or into, amalgamate or consolidate with, or wind up into, in each case including by way of an
arrangement (whether or not the Company is the surviving corporation), or sell, assign, convey, transfer, lease or otherwise dispose of
all or substantially all of its properties and assets, in one or more related transactions, to any Person <U>unless</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the continuing, resulting, surviving or transferee Person (the &ldquo;<FONT STYLE="font-weight: normal"><U>Successor Company</U></FONT>&rdquo;)
is a Person (other than an individual) organized and existing under the laws of Canada, any province or territory thereof, or of the United
States, any state or territory thereof or the District of Columbia;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Successor Company (if other than the Company) expressly assumes all of the obligations of the Company under the Notes and this
Indenture pursuant to a supplemental indenture or other documents or instruments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>immediately after giving <U>pro forma</U> effect to such transaction and any related financing transactions, as if such transactions
had occurred at the beginning of the applicable four-quarter period,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Successor Company would be able to Incur at least $1.00 of additional Indebtedness pursuant to <U>Section&nbsp;4.09(a)</U>,
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Consolidated Coverage Ratio for the Successor Company and its Restricted Subsidiaries would be no less than such ratio for
the Company and its Restricted Subsidiaries immediately prior to such transaction;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the Company is not the surviving corporation, each Guarantor (unless it is the other party to the transactions above, in which
case clause&nbsp;(1) of <U>Section&nbsp;5.01(b)</U> shall apply) shall have by supplemental indenture confirmed that its Note Guarantee
shall apply to such Successor Company&rsquo;s obligations under this Indenture and the Notes; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company shall have delivered to the Trustee an Officer&rsquo;s Certificate and an Opinion of Counsel, each stating that such
consolidation, merger, amalgamation, arrangement, winding up or disposition, and such supplemental indenture, if any, comply with this
Indenture , and that all conditions precedent to such consolidation, merger, amalgamation, arrangement, winding up or disposition have
been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding clauses&nbsp;(3) and (4) of <U>Section&nbsp;5.01(a)</U>:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Restricted Subsidiary of the Company may consolidate with, amalgamate with, propose an arrangement with, merge with or into
or transfer all or part of its properties and assets to the Company so long as no Capital Stock of the Restricted Subsidiary of the Company
is distributed to any Person other than the Company; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company may merge or amalgamate or propose an arrangement with an Affiliate of the Company solely for the purpose of reincorporating
the Company in another province or territory of Canada or in a state or territory of the United States or the District of Columbia.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to certain limitations described in this Indenture governing release of a Note Guarantee upon the sale, disposition or
transfer of a Guarantor, no Guarantor shall, and the Company shall not permit any Guarantor to, merge with or into, or amalgamate or consolidate
with, or wind up into or propose an arrangement with (whether or not such Guarantor is the surviving corporation), or sell, assign, convey,
transfer, lease or otherwise dispose of all or substantially all of its properties and assets, in one or more related transactions, to
any Person (other than to the Company or another Guarantor) <U>unless</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(A)&#9;if such entity remains a Guarantor, the resulting, surviving or transferee Person (the &ldquo;<FONT STYLE="font-weight: normal"><U>Successor
Guarantor</U></FONT>&rdquo;) is a Person (other than an individual) organized and existing under the same laws as the Guarantor was organized
immediately prior to such transaction, the laws of Canada, any province or territory thereof, or of the United States, any state or territory
thereof or the District of Columbia;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if such entity remains a Guarantor, the Successor Guarantor, if other than such Guarantor, expressly assumes all the obligations
of such Guarantor under this Indenture, the Notes and its Note Guarantee pursuant to a supplemental indenture or other documents or instruments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(D)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company shall have delivered to the Trustee an Officer&rsquo;s Certificate and an Opinion of Counsel, each stating that such
consolidation, amalgamation, arrangement, merger, winding up or disposition and such supplemental indenture (if any) comply with this
Indenture; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such transaction is made in compliance with <U>Section&nbsp;4.10</U> (it being understood that only such portion of the Net Available
Cash as is required to be applied on the date of such transaction in accordance with the terms of this Indenture needs to be applied in
accordance therewith at such time).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to certain limitations described in this Indenture, the Successor Guarantor shall succeed to, and be substituted for, such
Guarantor under this Indenture and the Note Guarantee of such Guarantor. Notwithstanding the foregoing, any Guarantor may (i) merge or
amalgamate or propose an arrangement with or into or transfer all or part of its properties and</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">assets to any other Guarantor or the Company
or (ii) merge or amalgamate or propose an arrangement with a Restricted Subsidiary of the Company for the purpose of reincorporating the
Guarantor in another province or territory of Canada, another state or territory of the United States or the District of Columbia, so
long as the amount of Indebtedness of such Guarantor and its Subsidiaries is not increased thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For purposes of this <U>Section&nbsp;5.01</U>, the sale, assignment, conveyance, transfer, lease or other disposition of all or
substantially all of the properties and assets of one or more Subsidiaries of the Company, which properties and assets, if held by the
Company instead of such Subsidiaries, would constitute all or substantially all of the properties and assets of the Company on a consolidated
basis, shall be deemed to be the disposition of all or substantially all of the properties and assets of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;5.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Successor Entity Substituted</U>. Upon any consolidation, merger, amalgamation, or winding up, in each case including by way
of an arrangement, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the assets
of the Company or a Guarantor in accordance with <U>Section&nbsp;5.01</U>, the successor Person formed by such consolidation or into or
with which the Company or a Guarantor, as applicable, is merged, amalgamated or wound up or to which such sale, assignment, transfer,
lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation,
merger, winding up, sale, lease, conveyance or other disposition, the provisions of this Indenture referring to the Company or such Guarantor,
as applicable, shall refer instead to the successor entity and not to the Company or such Guarantor, as applicable), and may exercise
every right and power of the Company or such Guarantor, as applicable, under this Indenture, the Notes and the Note Guarantees with the
same effect as if such successor Person had been named as the Company or such Guarantor, as applicable, herein; <U>provided</U> that,
in the case of a lease of all or substantially all its assets, the Company shall not be released from the obligation to pay the principal
of and interest on the Notes, and a Guarantor shall not be released from its obligations under its Note Guarantee.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
6<BR>
<BR>
DEFAULTS AND REMEDIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;6.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Events of Default</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each of the following is an &ldquo;<FONT STYLE="font-weight: normal"><U>Event of Default</U></FONT>&rdquo;:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>default in any payment of interest on any Note when due, continued for 30 days;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>default in the payment of principal of or premium, if any, on any Note when due at its Stated Maturity, upon optional redemption,
upon required repurchase, upon declaration or otherwise;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>failure by the Company or any Guarantor to comply with its obligations under <U>Section&nbsp;5.01</U>;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>failure by the Company or any Guarantor to comply for 30 days after receipt of written notice given by the Trustee or the Holders
of not less than 25% in principal amount of the then-outstanding Notes with any of its obligations under <U>Article&nbsp;4</U> (in each
case, other than (A) a failure to purchase Notes, which constitutes an Event of Default under clause&nbsp;(2) above, (B) a failure to
comply with <U>Section&nbsp;5.01</U>, which constitutes an Event of Default under clause&nbsp;(3) above or (C) a failure to comply with
<U>Section&nbsp;4.03</U> or <U>Section&nbsp;9.07</U> which constitute Events of Default under clause&nbsp;(5) below);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>failure by the Company or any Guarantor to comply for 90 days after receipt of written notice given by the Trustee or the Holders
of not less than 25% in principal amount of the then-outstanding Notes with its other agreements contained in this Indenture or the Notes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>default under any mortgage, indenture or instrument under which there is issued or by which there is secured or evidenced any Indebtedness
for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is Guaranteed by the Company or any of
its Restricted Subsidiaries), other than Indebtedness owed to the Company or its Restricted Subsidiary, whether such Indebtedness or Guarantee
now exists, or is created after the Issue Date, which default:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>is caused by a failure to pay principal of or premium, if any, on such Indebtedness prior to the expiration of the grace period
provided in such Indebtedness (&ldquo;<FONT STYLE="font-weight: normal"><U>payment default</U></FONT>&rdquo;); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>results in the acceleration of such Indebtedness prior to its maturity;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">and, in each case, the principal amount of
any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a payment default
or the maturity of which has been so accelerated, aggregates $50.0 million or more (or its foreign currency equivalent);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>failure by the Company or any Significant Subsidiary or any group of Restricted Subsidiaries of the Company that, taken together,
would constitute a Significant Subsidiary to pay final judgments aggregating in excess of $50.0 million (or its foreign currency equivalent)
(net of any amounts that a reputable and creditworthy insurance company has acknowledged liability for in writing), which judgments are
not paid, discharged or stayed for a period of 60 days or more after such judgment becomes final and non-appealable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company or any Significant Subsidiary or any group of Restricted Subsidiaries of the Company that, taken together, would constitute
a Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 1in; text-align: justify; text-indent: 1in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>commences proceedings to be adjudicated bankrupt or insolvent;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>consents to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer or
consent seeking an arrangement of debt, reorganization, dissolution, winding up or relief under applicable Bankruptcy Law;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>consents to the appointment of a custodian, receiver, interim receiver, receiver and manager, liquidator, assignee, trustee, sequestrator
or other similar official of it or for all or substantially all of its property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(D)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>makes a general assignment for the benefit of its creditors; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(E)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>generally is not paying its debts as they become due;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>is for relief against the Company, any Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would
constitute a Significant Subsidiary, in a proceeding in which the Company, any such Significant Subsidiary or any group of Restricted
Subsidiaries that, taken together, would constitute a Significant Subsidiary, is to be adjudicated bankrupt or insolvent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>appoints a custodian, receiver, interim receiver, receiver and manager, liquidator, assignee, trustee, sequestrator or other similar
official of the Company, any Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant
Subsidiary, or for all or substantially all of the property of the Company, any Significant Subsidiary or any group of Restricted Subsidiaries
that, taken together, would constitute a Significant Subsidiary; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>orders the liquidation, dissolution, readjustment of debt, reorganization or winding up of the Company, or any Significant Subsidiary
or any group of Subsidiaries that, taken together, would constitute a Significant Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">and the order or decree remains unstayed and
in effect for 60 consecutive days; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Note Guarantee of a Significant Subsidiary or any group of Guarantors that, taken together, would constitute a Significant
Subsidiary, ceases to be in full force and effect (except as contemplated by the terms of this Indenture) or is declared null and void
in a judicial proceeding or any Guarantor that is a Significant Subsidiary or any group of Guarantors that, taken together, would constitute
a Significant Subsidiary, denies or disaffirms its obligations under this Indenture or its Note Guarantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event of a declaration of acceleration of the Notes because an Event of Default described in clause&nbsp;(6) of <U>Section&nbsp;6.01(a)</U>
has occurred and is continuing, and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">provided in this Article, the declaration of acceleration of the Notes shall be automatically annulled if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the default triggering such Event of Default pursuant to clause&nbsp;(6) of <U>Section&nbsp;6.01(a)</U> shall be remedied or cured
by the Company or any of its Restricted Subsidiaries or waived by the holders of the relevant Indebtedness within 20 days after the declaration
of acceleration with respect thereto; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(A) the annulment of the acceleration of the Notes would not conflict with any judgment or decree of a court of competent jurisdiction
and (B) all existing Events of Default, except nonpayment of principal, premium, if any, or interest on the Notes that became due solely
because of the acceleration of the Notes, have been cured or waived.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;6.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Acceleration</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If an Event of Default (other than an Event of Default specified in clause&nbsp;(8) or (9) of <U>Section&nbsp;6.01(a)</U>) occurs
and is continuing, the Trustee by written notice to the Company, specifying the Event of Default, or the Holders of at least 25% in principal
amount of the then outstanding Notes by notice to the Company and the Trustee, may, and the Trustee at the written request of such Holders
shall, declare the principal of, premium, if any, and accrued and unpaid interest, if any, on all the Notes to be due and payable immediately.
Upon such a declaration, such principal, premium, if any, and accrued and unpaid interest, if any, shall be due and payable immediately.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If an Event of Default specified in clause&nbsp;(8) or (9) of <U>Section&nbsp;6.01(a)</U> occurs and is continuing, the principal
of, premium, if any, and accrued and unpaid interest, if any, on all the Notes shall become and be immediately due and payable without
any declaration or other act on the part of the Trustee or any Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;6.03<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Other Remedies</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">If an Event of Default occurs
and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and interest on the
Notes or to enforce the performance of any provision of the Notes or this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The Trustee may maintain
a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the
Trustee or any Holder of a Note in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy
or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;6.04<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Waiver of Past Defaults</U>. The Holders of a majority in principal amount of the then outstanding Notes by written notice to
the Trustee may on behalf of all Holders waive any past or existing Default and rescind any acceleration with respect to the Notes and
its consequences hereunder (including any related payment default that resulted from such acceleration), except:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a continuing Default in the payment of the principal, premium, if any, or interest on any Note held by a non-consenting Holder
(including in connection with an Asset Disposition Offer or a Change of Control Offer); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a Default with respect to a provision that under <U>Section&nbsp;9.02</U> cannot be amended without the consent of each Holder
affected,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U>provided</U> that, in the case of the rescission
of any acceleration with respect to the Notes, (1) the rescission would not conflict with any judgment or decree of a court of competent
jurisdiction and (2) all existing Events of Default (except nonpayment of the principal of, premium, if any, and interest on the Notes
that have become due solely by such declaration of acceleration) have been cured or waived.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Upon any such waiver, such
Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this
Indenture, but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">If a Default is deemed to
occur solely because a Default (the &ldquo;<FONT STYLE="font-weight: normal"><U>Initial Default</U></FONT>&rdquo;) already existed, and
such Initial Default is subsequently cured and is not continuing, the Default or Event of Default resulting solely because the Initial
Default existed shall be deemed cured, and shall be deemed annulled, waived and rescinded without any further action required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;6.05<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Control by Majority</U>. The Holders of a majority in principal amount of the outstanding Notes may direct the time, method
and place of conducting any proceeding for exercising any remedy available to the Trustee or of exercising any trust or power conferred
on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture, the Notes or any Note
Guarantee, or that the Trustee determines in good faith is unduly prejudicial to the rights of any other Holder or that would involve
the Trustee in personal liability or expense for which the Trustee has not been offered an indemnity satisfactory to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;6.06<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Limitation on Suits</U>. Subject to <U>Section&nbsp;6.07</U>, no Holder of a Note may pursue any remedy with respect to this
Indenture or the Notes or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Holder has previously given the Trustee written notice that an Event of Default is continuing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Holders of at least 25% in principal amount of the then outstanding Notes have requested the Trustee in writing to pursue the
remedy in its own name as Trustee under this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Holders have offered the Trustee security or indemnity satisfactory to the Trustee against any loss, liability, costs or expense;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Trustee has not complied with such request within 60 days after the receipt thereof and the offer of security or indemnity;
and</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Holders of a majority in principal amount of the then outstanding Notes have not given the Trustee a direction that, in the
opinion of the Trustee, is inconsistent with such request within such 60-day period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">A Holder may not use this Indenture to prejudice
the rights of another Holder or to obtain a preference or priority over another Holder, it being understood that the Trustee does not
have an affirmative duty to ascertain whether or not any actions or forbearances by a Holder are unduly prejudicial to other Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;6.07<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Rights of Holders to Receive Payment</U>. Notwithstanding any other provision of this Indenture, the right of any Holder to
receive payment of principal, premium, if any, and interest on its Note, on or after the respective due dates expressed or provided for
in such Note (including in connection with an Asset Disposition Offer or a Change of Control Offer), or to bring suit for the enforcement
of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;6.08<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Collection Suit by Trustee</U>. If an Event of Default specified in <U>Section&nbsp;6.01(a)(1)</U> or <U>(2)</U> occurs and
is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company and any other obligor
on the Notes for the whole amount of principal of, premium, if any, and interest remaining unpaid on the Notes, together with interest
on overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses
of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee and its agents and counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;6.09<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Restoration of Rights and Remedies</U>. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee
or to such Holder, then and in every such case, subject to any determination in such proceedings, the Company, the Guarantors, the Trustee
and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies
of the Trustee and the Holders shall continue as though no such proceeding has been instituted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;6.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Rights and Remedies Cumulative</U>. Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Notes in <U>Section&nbsp;2.07</U>, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders
is intended to be exclusive of any other right or remedy, and every right and remedy are, to the extent permitted by law, cumulative and
in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion
or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate
right or remedy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;6.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Delay or Omission Not Waiver</U>. No delay or omission of the Trustee or of any Holder to exercise any right or remedy accruing
upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence
therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and
as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;6.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Trustee May File Proofs of Claim</U>. The Trustee may file proofs of claim and other papers or documents as may be necessary
or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the
Company (or any other obligor upon the Notes, including the Guarantors), its creditors or its property and is entitled and empowered to
participate as a member in any official committee of creditors appointed in such matter and to collect, receive and distribute any money
or other property payable or deliverable on any such claims. Any custodian in any such judicial proceeding is hereby authorized by each
Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee
and its agents and counsel, and any other amounts due the Trustee under <U>Section&nbsp;7.07</U>. To the extent that the payment of any
such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee
under <U>Section&nbsp;7.07</U> out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be
secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the
Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise.
Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;6.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Priorities</U>. If the Trustee collects any money or property pursuant to this <U>Article&nbsp;6</U>, it shall pay out the money
in the following order:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to the Trustee and its agents and attorneys for amounts due under <U>Section&nbsp;7.07</U>, including payment of all reasonable
compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to Holders for amounts due and unpaid on the Notes for principal, premium, if any, and interest ratably, without preference or
priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest, respectively;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to the Company or to such party as a court of competent jurisdiction shall direct, including a Guarantor, if applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Trustee may fix a record date and payment
date for any payment to Holders pursuant to this <U>Section&nbsp;6.13</U>. Promptly after any record date is set pursuant to this <U>Section&nbsp;6.13</U>,
the Trustee shall cause notice of such record date and payment date to be given to the Company and to each Holder in the manner set forth
in <U>Section&nbsp;12.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;6.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Undertaking for Costs</U>. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against
the Trustee for any action taken, suffered or omitted by it as a Trustee, a court in its discretion may require the filing by any party
litigant in such suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">costs, including
reasonable attorneys&rsquo; fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith
of the claims or defenses made by the party litigant. This <U>Section&nbsp;6.14</U> does not apply to a suit by the Trustee, a suit by
a Holder pursuant to <U>Section&nbsp;6.07</U>, or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding
Notes.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
7<BR>
<BR>
TRUSTEE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;7.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Duties of Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture
and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct
of such person&rsquo;s own affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except during the continuance of an Event of Default:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the absence of bad faith or willful misconduct on its part, the Trustee may, conclusively rely, as to the truth of the statements
and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements
of this Indenture. However, in the case of any such certificates or opinions which by any provision hereof are specifically required to
be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements
of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>this Subsection shall not be construed to limit the effect of <U>Subsection&nbsp;(b)</U> of this <U>Section&nbsp;7.01</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved
that the Trustee was negligent in ascertaining the pertinent facts; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it in good faith in accordance
with the direction of the Holders of a majority in the aggregate principal amount of the outstanding Notes relating to the time, method
and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee
under this Indenture.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to this <U>Article&nbsp;7</U>, if an Event of Default occurs and is continuing, the Trustee shall be under no obligation
to exercise any of its rights or powers under this Indenture at the request or direction of any of the Holders unless the Holders have
offered to the Trustee indemnity or security satisfactory to it against any loss, liability or expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law and except for
money held in trust under <U>Article&nbsp;8</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial liability
in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds
to believe that repayment of such funds or adequate indemnity against such risk or liability is not assured to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee
shall be subject to the provisions of this <U>Section&nbsp;7.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;7.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Rights of Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the absence of bad faith or willful misconduct on its part, the Trustee may conclusively rely on any document believed by it
to be genuine and to have been signed or presented by the proper Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Before the Trustee acts or refrains from acting, it may require an Officer&rsquo;s Certificate or an Opinion of Counsel or both
conforming to <U>Section&nbsp;12.03</U>. The Trustee shall not be liable for any action it takes or omits to take in good faith in conclusive
reliance on the Officer&rsquo;s Certificate or Opinion of Counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee may act through attorneys and agents and shall not be responsible for the misconduct or negligence of any agent appointed
with due care.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within
its rights or powers; <U>provided</U>, <U>however</U>, that the Trustee&rsquo;s conduct does not constitute willful misconduct or negligence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal matters relating
to this Indenture and the Notes, including any Opinion of Counsel, shall be full and complete authorization and protection from liability
in respect to any action taken, suffered or omitted to be taken by it hereunder in good faith and in accordance with the advice or opinion
of such counsel, including any Opinion of Counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall not be bound to ascertain or inquire as to the performance or observance of any covenants, conditions, or agreements
on the part of the Company, except as otherwise set forth herein, but the Trustee may require of the Company full information and advice
as to the performance of the covenants, conditions and agreements contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as a duty and, with respect
to such permissive rights, the Trustee shall not be answerable for other than its negligence or willful misconduct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to
be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder and to each Agent; <U>provided</U>,
<U>however</U>, an Agent shall only be liable to the extent of its gross negligence or willful misconduct; and in and during an Event
of Default, only the Trustee, and not any Agent, shall be subject to the prudent person standard.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder
arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, epidemics, pandemics,
disease, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services, it being understood
that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance
as soon as practicable under the circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In no event shall the Trustee be responsible or liable for special, indirect, punitive, incidental or consequential loss or damage
of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any request or direction of the Company mentioned herein shall be sufficiently evidenced by a written order of the Company signed
by an Officer and any resolution of the Board of Directors may be sufficiently evidenced by a board resolution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture, which certificate may be updated and delivered to the Trustee
at any time by the Company in its discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, consent, order, approval or other paper or document believed by it to be genuine
and to have been signed or presented by the proper party or parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter
be proved or established prior to taking or suffering any action to be taken hereunder, such matter (unless other evidence in respect
thereof be herein specifically prescribed) may, in the absence of negligence or willful misconduct on the</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">part of the Trustee, be deemed
to be conclusively proved and established by a certificate signed by one of the Company&rsquo;s officers, as the case may be, and delivered
to the Trustee and such certificate, in the absence of negligence or willful misconduct on the part of the Trustee, shall be full warrant
to the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture upon the faith thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through
agents, attorneys, custodians or nominees appointed with due care, and shall not be responsible for any willful misconduct or negligence
on the part of any agent, attorney, custodian or nominee so appointed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(q)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall have no responsibility for preparing, recording, filing, re-recording, or re-filing any financing statement,
perfection statement, continuation statement or other instrument in any public office or for otherwise ensuring the perfection or maintenance
of any security interest granted pursuant to this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;7.03<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Individual Rights of Trustee</U>. The Trustee in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent,
Registrar or any other agent of the Trustee may do the same with like rights. However, the Trustee must comply with <U>Section&nbsp;7.10</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;7.04<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Trustee&rsquo;s Disclaimer</U>. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy
of this Indenture or the Notes, it shall not be accountable for the Company&rsquo;s use of the proceeds from the Notes, and it shall not
be responsible for any statement of the Company in this Indenture or in any document issued in connection with the sale of the Notes or
in the Notes other than the Trustee&rsquo;s certificate of authentication.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;7.05<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice of Defaults</U>. The Trustee shall not be deemed to have knowledge or notice of the occurrence of any Default or Event
of Default, unless a Responsible Officer of the Trustee shall have received written notice from the Company or a Holder describing such
Default or Event of Default, and stating that such notice is a notice of Default or Event of Default. If a Default occurs and is continuing
and a Responsible Officer of the Trustee has written notice of such, the Trustee shall send to each Holder a notice of the Default within
90 days after it occurs. Except in the case of a Default specified in clauses&nbsp;(1) or (2) of <U>Section&nbsp;6.01</U>, the Trustee
may withhold from the Holders notice of any continuing Default if the Trustee determines in good faith that withholding the notice is
in the interests of the Holders. Notice to Holders under this <U>Section&nbsp;7.05</U> shall be given in the manner and to the extent
provided in Trust Indenture Act Section&nbsp;313(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;7.06<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Reserved</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;7.07<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compensation and Indemnity</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and the Guarantors, jointly and severally, shall pay to the Trustee from time to time such compensation for its services
as shall be agreed to in writing from time to time by the Company, the Guarantors and the Trustee. The Trustee&rsquo;s compensation shall
not be limited by any law on compensation of a trustee of an express trust. The Company shall</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">reimburse the Trustee upon request for all
reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services.
Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee&rsquo;s agents, counsel,
accountants and experts. The Company and the Guarantors, jointly and severally, shall indemnify the Trustee, its agents, representatives,
officers, directors, employees and attorneys against any and all loss, liability, damage, claim (whether asserted by the Company, a Guarantor,
a Holder or any other person) or expense (including reasonable compensation and expenses and disbursements of the Trustee&rsquo;s counsel)
incurred by it in connection with the administration of this trust and the performance of its duties, or in connection with the enforcement
of any rights hereunder, or in connection with the exercise or performance of any of its rights or powers hereunder. The Trustee shall
notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve
the Company of its obligations hereunder. The Company may defend the claim at the Company&rsquo;s sole expense and the Trustee shall provide
reasonable cooperation in such defense, provided that: (i) counsel appointed by the Company is reasonably acceptable to the Trustee, (ii)
there is no conflict of interest between the Trustee, on one hand, and the Company or the Guarantors, on another hand, in the conduct
of the response to a threatened claim or in the conduct of the defense of an actual claim that would make it inappropriate for the Company
to assume such defense, in which event Company and Guarantors shall be liable for the reasonable legal expenses of each counsel whose
appointment is necessary to resolve such conflict and (iii) the Company shall not enter into any settlement with respect to such loss,
liability, damage, claim or expense without the Trustee&rsquo;s prior written consent (which such consent shall not be unreasonably withheld
or delayed. The Trustee may have separate counsel of its selection and the Company shall pay the fees and expenses of such nationally
recognized counsel. Notwithstanding the foregoing, neither the Company nor any Guarantor need reimburse any expense or indemnify against
any loss, liability, damage, claim or expense incurred by the Trustee through the Trustee&rsquo;s own willful misconduct or negligence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To secure the payment obligations of the Company and the Guarantors in this <U>Section&nbsp;7.07</U>, the Trustee shall have a
Lien prior to the Notes on all money or property held or collected by the Trustee, in its capacity as Trustee, other than money or property
held in trust to pay principal of and interest, if any, on particular Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company&rsquo;s payment obligations pursuant to this <U>Section&nbsp;7.07</U> shall survive the resignation or removal of the
Trustee and the discharge of this Indenture. When the Trustee incurs expenses after the occurrence of a Default specified in <U>Section&nbsp;6.01(a)(8)</U>
or <U>(9)</U> with respect to the Company, the expenses are intended to constitute expenses of administration under the Bankruptcy Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;7.08<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Replacement of Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee may resign at any time by giving 30 days&rsquo; prior notice of such resignation to the Company and be discharged from
the trust hereby created by so notifying the Company. The Holders of a majority in aggregate principal amount of the outstanding Notes
may remove the Trustee by so notifying the Trustee and the Company in writing. The Company shall remove the Trustee if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Trustee fails to comply with <U>Section&nbsp;7.10</U>;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy
Law;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a receiver or public officer takes charge of the Trustee or its property; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Trustee otherwise becomes incapable of acting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Trustee resigns or has been removed by the Holders, Holders of a majority in principal amount of the outstanding Notes may
appoint a successor Trustee. Otherwise, if the Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any
reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders
of a majority in aggregate principal amount of the then outstanding Notes may remove the successor Trustee to replace it with another
successor Trustee appointed by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon
the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers
and duties of the Trustee under this Indenture. The successor Trustee shall send a notice of its succession to Holders, and include in
the notice its name and address of its corporate trust office. The retiring Trustee shall promptly transfer all property held by it as
Trustee to the successor Trustee, subject to the Lien provided for in <U>Section&nbsp;7.07</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee,
the Company or the Holders of at least 10% in principal amount of the Notes may petition, at the sole expense of the Company, any court
of competent jurisdiction for the appointment of a successor Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Trustee fails to comply with <U>Section&nbsp;7.10</U>, any Holder of Notes may petition any court of competent jurisdiction
for the removal of the Trustee and the appointment of a successor Trustee with respect to the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding the replacement of the Trustee pursuant to this Section, the Company&rsquo;s obligations under <U>Section&nbsp;7.07</U>
shall continue for the benefit of the retiring Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;7.09<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Successor Trustee by Merger</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or
assets to, another Person, the resulting, surviving or transferee Person without any further act shall, if such resulting, surviving or
transferee Person is otherwise eligible under this Indenture, be the successor Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts
created by this Indenture any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt
the certificate of authentication of any predecessor trustee, and deliver such Notes so authenticated; and in case at that time any of
the Notes shall not have been authenticated, any successor to the</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Trustee may authenticate such Notes either in the name of any predecessor
hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which the
Notes provide or this Indenture provides that the certificate of the Trustee shall have.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;7.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Eligibility; Disqualification</U>. The Trustee shall at all times satisfy the requirements of Trust Indenture Act Section&nbsp;310(a).
The Trustee (together with its affiliates) shall have a combined capital and surplus of at least $15,000,000 as set forth in its most
recent published annual report of condition. The Trustee shall comply with Trust Indenture Act Section&nbsp;310(b).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
8<BR>
<BR>
LEGAL DEFEASANCE AND COVENANT DEFEASANCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;8.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Option to Effect Legal Defeasance or Covenant Defeasance</U>. The Company may, at its option and at any time, elect to have
either <U>Section&nbsp;8.02</U> or <U>Section&nbsp;8.03</U> applied to all outstanding Notes and Note Guarantees upon compliance with
the conditions set forth below in this <U>Article&nbsp;8</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;8.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Legal Defeasance and Discharge</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Upon the Company&rsquo;s exercise under <U>Section&nbsp;8.01</U> of the option applicable to this <U>Section&nbsp;8.02</U>, the
Company and the Guarantors shall, subject to the satisfaction of the conditions set forth in <U>Section&nbsp;8.04</U>, be deemed to have
been discharged from their obligations with respect to all outstanding Notes and Note Guarantees on the date the conditions set forth
below are satisfied (&ldquo;<FONT STYLE="font-weight: normal"><U>Legal Defeasance</U></FONT>&rdquo;). For this purpose, Legal Defeasance
means that the Company shall be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes, which
shall thereafter be deemed to be &ldquo;outstanding&rdquo; only for the purposes of <U>Section&nbsp;8.05</U> and the other Sections of
this Indenture referred to in (1) and (2) below, and to have satisfied all of its other obligations under such Notes and this Indenture,
including that of the Guarantors (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging
the same), except for the following provisions which shall survive until otherwise terminated or discharged hereunder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the rights of Holders to receive payments in respect of the principal of, premium, if any, and interest on the Notes when such
payments are due, solely out of the trust created pursuant to this Indenture referred to in <U>Section&nbsp;8.04</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company&rsquo;s obligations with respect to the Notes concerning issuing temporary Notes, registration of such Notes, mutilated,
destroyed, lost or stolen Notes and the maintenance of an office or agency for payment and money for Note payments held in trust;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the rights, powers, trusts, duties and immunities of the Trustee, and the Company&rsquo;s obligations in connection therewith;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>this <U>Section&nbsp;8.02</U>.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Following the Company&rsquo;s exercise of its Legal Defeasance option, payment of the Notes may not be accelerated because of an
Event of Default. If the Company exercises its Legal Defeasance option, the Note Guarantees in effect at such time shall terminate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to compliance with this <U>Article&nbsp;8</U>, the Company may exercise its option under this <U>Section&nbsp;8.02</U>
notwithstanding the prior exercise of its option under <U>Section&nbsp;8.03</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;8.03<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Covenant Defeasance</U>. Upon the Company&rsquo;s exercise under <U>Section&nbsp;8.01</U> of the option applicable to this <U>Section&nbsp;8.03</U>,
the Company and the Guarantors shall, subject to the satisfaction of the conditions set forth in <U>Section&nbsp;8.04</U>, be released
from their obligations under the covenants contained in <U>Sections&nbsp;3.10</U>, <U>4.03</U>, <U>4.07</U>, <U>4.08</U>, <U>4.09</U>,
<U>4.10</U>, <U>4.11</U>, <U>4.12</U>, <U>4.14</U>, <U>4.15</U>, <U>4.16</U> and <U>9.07</U> and clause&nbsp;(4) of <U>Section&nbsp;5.01(a)</U>
with respect to the outstanding Notes, and the Guarantors shall be deemed to have been discharged from their obligations with respect
to all Note Guarantees, on and after the date the conditions set forth in <U>Section&nbsp;8.04</U> are satisfied (&ldquo;<FONT STYLE="font-weight: normal"><U>Covenant
Defeasance</U></FONT>&rdquo;), and the Notes shall thereafter be deemed not &ldquo;outstanding&rdquo; for the purposes of any direction,
waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue
to be deemed &ldquo;outstanding&rdquo; for all other purposes hereunder (it being understood that such Notes shall not be deemed outstanding
for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to this Indenture and the outstanding Notes,
the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such
covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference
in any such covenant to any other provision herein or in any other document, and such omission to comply shall not constitute a Default
or an Event of Default under <U>Section&nbsp;6.01</U>, but, except as specified above, the remainder of this Indenture and such Notes
shall be unaffected thereby. In addition, upon the Company&rsquo;s exercise under <U>Section&nbsp;8.01</U> of the option applicable to
this <U>Section&nbsp;8.03</U>, subject to the satisfaction of the conditions set forth in <U>Section&nbsp;8.04</U>, <U>Sections&nbsp;6.01(a)(3)</U>
(only with respect to covenants that are released as a result of such Covenant Defeasance), <U>6.01(a)(4)</U> (only with respect to covenants
that are released as a result of such Covenant Defeasance), <U>6.01(a)(5)</U> (only with respect to covenants that are released as a result
of such Covenant Defeasance), <U>6.01(a)(6)</U>, <U>6.01(a)(7)</U>, <U>6.01(a)(8)</U> (solely with respect to Significant Subsidiaries
or a group of Restricted Subsidiaries of the Company that, taken together would constitute a Significant Subsidiary), <U>6.01(a)(9)</U>
(solely with respect to Significant Subsidiaries or a group of Restricted Subsidiaries of the Company that, taken together would constitute
a Significant Subsidiary) and <U>6.01(a)(10)</U>, in each case, shall not constitute Events of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;8.04<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Conditions to Legal or Covenant Defeasance</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The following shall be the conditions to the exercise of either the Legal Defeasance option under <U>Section&nbsp;8.02</U> or the
Covenant Defeasance option under <U>Section&nbsp;8.03</U> with respect to the Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, U.S. dollar-denominated
Government Securities, or a combination thereof, in amounts as shall be sufficient, in the opinion of a nationally recognized firm of
independent public accountants without consideration of any reinvestment of interest, to pay the principal of, and premium, if any, and
interest due on</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">the outstanding Notes on the Stated Maturity or on the applicable redemption date, as the case may be, and the Company
must specify whether the Notes are being defeased to maturity or to a particular redemption date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of Legal Defeasance, the Company has delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
confirming that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (B) since
the Issue Date, there has been a change in the applicable U.S. federal income tax law, in either case to the effect that, and based thereon
such Opinion of Counsel shall confirm that the Holders shall not recognize income, gain or loss for U.S. federal income tax purposes as
a result of such Legal Defeasance and shall be subject to U.S. federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such Legal Defeasance had not occurred;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of Covenant Defeasance, the Company has delivered to the Trustee an Opinion of Counsel reasonably acceptable to the
Trustee confirming that, subject to customary assumptions and exclusions, the Holders shall not recognize income, gain or loss for U.S.
federal income tax purposes as a result of such Covenant Defeasance and shall be subject to U.S. federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of Legal Defeasance or Covenant Defeasance, the Company must deliver to the Trustee an Opinion of Counsel qualified
to practice in Canada (such counsel acceptable to the Trustee, acting reasonably) or a ruling from the Canada Revenue Agency to the effect
that holders of the outstanding Notes shall not recognize income, gain or loss for Canadian federal, provincial or territorial income
tax or other tax purposes as a result of such Legal Defeasance or Covenant Defeasance, as applicable, and shall only be subject to Canadian
federal, provincial or territorial income tax and other taxes on the same amounts, in the same manner and at the same times as would have
been the case had such Legal Defeasance or Covenant Defeasance, as applicable, not occurred;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under any material
agreement or instrument (other than this Indenture) to which the Company or any of its Restricted Subsidiaries is a party or by which
the Company or any of its Restricted Subsidiaries is bound;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or an Event of
Default resulting from the borrowing of funds to be applied to make such deposit and any similar and simultaneous deposit relating to
other Indebtedness and, in each case, the granting of Liens in connection therewith);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company has delivered to the Trustee an Opinion of Counsel to the effect that, as of the date of such opinion and subject to
customary assumptions and exclusions, including that no intervening bankruptcy of the Company between the date of deposit and the 91st
day following the deposit and assuming that no Holder is an &ldquo;insider&rdquo;</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">of the Company under applicable bankruptcy law, after
the 91st day following the deposit, the trust funds shall not be subject to the effect of any applicable bankruptcy, insolvency, reorganization
of similar laws affecting creditors&rsquo; rights generally;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company has delivered to the Trustee an Officer&rsquo;s Certificate stating that the deposit was not made by the Company with
the intent of defeating, hindering, delaying or defrauding creditors of the Company, any Guarantor or others;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company has delivered to the Trustee an Officer&rsquo;s Certificate and an Opinion of Counsel (which Opinion of Counsel may
be subject to customary assumptions and exclusions), each stating that all conditions precedent relating to the Legal Defeasance or the
Covenant Defeasance, as the case may be, have been complied with; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company has delivered irrevocable instructions to the Trustee to apply the deposited money toward the payment of the Notes
at maturity or the redemption date, as the case may be (which instructions may be contained in the Officer&rsquo;s Certificate referred
to in clause&nbsp;(9) above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;8.05<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to <U>Section&nbsp;8.06</U>, all money and Government Securities (including the proceeds thereof) (which the Trustee shall
not be obligated to reinvest) deposited with the Trustee pursuant to <U>Section&nbsp;8.04</U> in respect of the outstanding Notes shall
be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either
directly or through any Paying Agent (including the Company or a Guarantor acting as Paying Agent) as the Trustee may determine, to the
Holders of all sums due and to become due thereon in respect of principal, premium, if any, and interest on the Notes, but such money
need not be segregated from other funds except to the extent required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or
Government Securities deposited pursuant to <U>Section&nbsp;8.04</U> or the principal and interest received in respect thereof other than
any such tax, fee or other charge which by law is for the account of the Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Anything in this <U>Article&nbsp;8</U> to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time
to time upon the request of the Company any money or Government Securities held by it as provided in <U>Section&nbsp;8.04</U> which, in
the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee (which may be the opinion delivered under <U>Section&nbsp;8.04(a)</U>), are in excess of the amount thereof that would then
be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;8.06<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Repayment to the Company</U>. Subject to any applicable abandoned property law, any money deposited with the Trustee or any
Paying Agent, or then held by the Company, in trust for the payment of the principal, premium, if any, or interest on any Note and remaining
unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall be paid to the Company on
its request or (if then held by the Company) shall be discharged from</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">such trust; and the Holder of such Note shall thereafter look only
to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability
of the Company as trustee thereof, shall thereupon cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;8.07<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Reinstatement</U>. If the Trustee or Paying Agent is unable to apply any U.S. dollars or Government Securities in accordance
with <U>Section&nbsp;8.02</U> or <U>Section&nbsp;8.03</U>, as the case may be, by reason of any order or judgment of any court or governmental
authority enjoining, restraining or otherwise prohibiting such application, then the Company&rsquo;s and the Guarantors&rsquo; obligations
under this Indenture, the Notes and the Note Guarantees shall be revived and reinstated as though no deposit had occurred pursuant to
<U>Section&nbsp;8.02</U> or <U>Section&nbsp;8.03</U> until such time as the Trustee or Paying Agent is permitted to apply all such money
in accordance with <U>Section&nbsp;8.02</U> or <U>Section&nbsp;8.03</U>, as the case may be; <U>provided</U> that, if the Company makes
any payment of principal, premium, if any, or interest on any Note following the reinstatement of its obligations, the Company shall be
subrogated to the rights of the Holders to receive such payment from the money held by the Trustee or Paying Agent.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
9<BR>
<BR>
AMENDMENT, SUPPLEMENT AND WAIVER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;9.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Without Consent of Holders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding <U>Section&nbsp;9.02</U>, without the consent of any Holder, the Company, the Guarantors and the Trustee may amend
or supplement this Indenture, the Notes and the Note Guarantees to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>cure any ambiguity, omission, defect or inconsistency;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>issue Additional Notes in compliance with <U>Section&nbsp;4.09</U>; <U>provided</U> that no such amendments shall affect the terms
of the Notes already issued and outstanding or the transferability of such Notes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>provide for the assumption by a successor of the obligations of the Company or any Guarantor under this Indenture, the Notes or
the Note Guarantees in accordance with <U>Section&nbsp;5.01</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>provide for or facilitate the issuance of uncertificated Notes in addition to or in place of certificated Notes; <U>provided</U>
that the uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code or in a manner such that the uncertificated
Notes are described in Section 4701(b)(1)(B) of the Code;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to comply with the rules of any applicable Depositary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i) add Guarantors with respect to the Notes or (ii) release a Guarantor from its obligations under its Note Guarantee or this
Indenture in accordance with the applicable provisions of this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>secure the Notes and the Note Guarantees;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>add covenants of the Company or its Restricted Subsidiaries or Events of Default for the benefit of Holders or to make changes
that would provide additional rights to the Holders, or to surrender any right or power conferred upon the Company or any Guarantor;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make any change that does not materially adversely affect the legal rights under this Indenture of any Holder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(10)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>evidence and provide for the acceptance of an appointment under this Indenture of a successor Trustee; <U>provided</U> that the
successor Trustee is otherwise qualified and eligible to act as such under the terms of this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(11)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>conform the text of this Indenture, the Notes or the Note Guarantees to any provision of the &ldquo;Description of Notes&rdquo;
section of the Offering Memorandum to the extent that such provision in such &ldquo;Description of Notes&rdquo; section was intended to
be a verbatim recitation of a provision of this Indenture, the Notes or the Note Guarantees, as set forth in an Officer&rsquo;s Certificate;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(12)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make any amendment to the provisions of this Indenture relating to the transfer and legending of Notes as permitted by this Indenture,
including, without limitation, to facilitate the issuance and administration of the Notes or, if Incurred in compliance with this Indenture,
Additional Notes; <U>provided</U>, <U>however</U>, that (A) compliance with this Indenture as so amended would not result in Notes being
transferred in violation of the Securities Act or any applicable securities laws and regulations and (B) such amendment does not materially
and adversely affect the rights of Holders to transfer Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Upon the request of the Company, and upon receipt by the Trustee of the documents described in <U>Section&nbsp;12.03</U>, the Trustee
shall join with the Company and the Guarantors in the execution of any amended or supplemental indenture authorized or permitted by the
terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee
shall not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this
Indenture or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>After an amendment, supplement or waiver under this <U>Section&nbsp;9.01</U> becomes effective, the Company shall send to the Holders
of Notes affected thereby a written notice briefly describing the amendment, supplement or waiver. Any failure of the Company to send
such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment, supplement or
waiver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;9.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>With Consent of Holders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as provided below in this <U>Section&nbsp;9.02</U>, the Company, the Guarantors and the Trustee may amend or supplement
this Indenture, the Notes and any Note Guarantee with the consent of the Holders of a majority in principal amount of the Notes (including
Additional Notes, if any) then outstanding voting as a single class (including, without limitation, consents obtained in connection with
a purchase of, or tender offer or exchange offer for, Notes), and, subject to <U>Section&nbsp;6.04</U> and <U>Section&nbsp;6.07</U>, any
existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if any, or
interest on the</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision
of this Indenture, the Notes or the Note Guarantees may be waived with the consent of the Holders of a majority in aggregate principal
amount of the then outstanding Notes (including Additional Notes, if any) voting as a single class (including consents obtained in connection
with the purchase of, or tender offer for, Notes). <U>Section&nbsp;2.08</U> and <U>Section&nbsp;2.09</U> shall determine which Notes are
considered to be &ldquo;outstanding&rdquo; for the purposes of this <U>Section&nbsp;9.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Upon the request of the Company, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of
the Holders as aforesaid, and upon receipt by the Trustee of the documents described in <U>Section&nbsp;7.02</U> and <U>Section&nbsp;12.03</U>,
the Trustee shall join with the Company and the Guarantors in the execution of such amended or supplemental indenture unless such amended
or supplemental indenture directly affects the Trustee&rsquo;s own rights, duties or immunities under this Indenture or otherwise, in
which case the Trustee may in its discretion, but shall not be obligated to, enter into such amended or supplemental indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>It shall not be necessary for the consent of the Holders under this <U>Section&nbsp;9.02</U> to approve the particular form of
any proposed amendment, supplement or waiver. It shall be sufficient if such consent approves the substance thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>After an amendment, supplement or waiver under this <U>Section&nbsp;9.02</U> becomes effective, the Company shall send to the Holders
of Notes affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to send such notice,
or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment, supplement or waiver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Without the consent of each affected Holder, no amendment, supplement or waiver under this <U>Section&nbsp;9.02</U> may:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>reduce the stated rate of interest or extend the stated time for payment of interest on any Note;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>reduce the principal of or extend the Stated Maturity of any Note;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>waive a Default or Event of Default in the payment of principal of, premium, if any, or interest on the Notes (except a rescission
of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding Notes with respect
to a nonpayment default and a waiver of the payment default that resulted from such acceleration);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>reduce the premium payable upon the redemption or repurchase of any Note or change the time at which any Note may be redeemed or
repurchased as described in <U>Section&nbsp;3.07</U>, <U>Section&nbsp;3.09</U>, <U>Section&nbsp;3.10</U>, <U>Section&nbsp;4.10</U> and
<U>Section&nbsp;4.14</U> whether through an amendment or waiver of provisions in the covenants, definitions or otherwise (except amendments
to the definition of &ldquo;Change of Control&rdquo; or changes to any</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">notice provisions, which may be amended with the consent of the
Holders of a majority in principal amount of the Notes then outstanding);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make any Note payable in money other than that stated in the Note;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>impair the right of any Holder to receive payment of principal of, premium, if any, or interest on such Holder&rsquo;s Notes on
or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder&rsquo;s Notes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make any change in the amendment or waiver provisions which require each Holder&rsquo;s consent; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(9)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>modify the Note Guarantees in any manner materially adverse to the Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A consent to any amendment, supplement or waiver of this Indenture, the Notes or any Note Guarantee by any Holder given in connection
with a tender of such Holder&rsquo;s Notes shall not be rendered invalid by such tender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;9.03<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>[Reserved]</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;9.04<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Revocation and Effect of Consents</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the
Holder of a Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder&rsquo;s
Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note may revoke
the consent as to its Note if the Trustee receives written notice of revocation before the date the waiver, supplement or amendment becomes
effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company may, but shall not be obligated to, fix a record date pursuant to <U>Section&nbsp;1.04</U> for the purpose of determining
the Holders entitled to consent to any amendment, supplement or waiver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;9.05<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notation on or Exchange of Notes</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The
Company in exchange for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate new Notes that
reflect the amendment, supplement or waiver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Failure to make the appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement
or waiver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;9.06<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Trustee to Sign Amendments, etc.</U>. The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this
<U>Article&nbsp;9</U> if the amendment, supplement or waiver</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">does not adversely affect the rights, duties, liabilities or immunities of
the Trustee. In executing any amendment, supplement or waiver, the Trustee shall receive and (subject to <U>Section&nbsp;7.01</U>) shall
be fully protected in conclusively relying upon, in addition to the documents required by <U>Section&nbsp;12.03</U>, an Officer&rsquo;s
Certificate and an Opinion of Counsel each stating (i) that such modification, amendment, supplement or waiver is authorized or permitted
pursuant to the terms of this Indenture or the Notes, as applicable, and (ii) that all related conditions precedent to such modification,
amendment, supplement or waiver have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;9.07<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment for Consent</U>. The Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, pay
or cause to be paid any consideration to or for the benefit of any Holder for or as an inducement to any consent, waiver or amendment
of any of the terms or provisions of this Indenture or the Notes unless such consideration is offered to be paid and is paid to all Holders
that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to consent, waiver or amendment;
<U>provided</U> that this provision shall not be breached if consents, waivers or amendments are sought in connection with an exchange
offer for all of the Notes where participation in such exchange offer is limited to holders who are &ldquo;qualified institutional buyers,&rdquo;
within the meaning of Rule 144A (as defined in <U>Appendix&nbsp;A</U>), or non-U.S. persons, within the meaning of Regulation S (as defined
in <U>Appendix&nbsp;A</U>).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
10<BR>
<BR>
GUARANTEES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;10.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Guarantee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to this <U>Article&nbsp;10</U>, each of the Guarantors hereby, jointly and severally, irrevocably and unconditionally guarantees,
on a senior unsecured basis, to each Holder and to the Trustee and its successors and assigns, irrespective of the validity and enforceability
of this Indenture, the Notes or the obligations of the Company hereunder or thereunder, that: (1) the principal, premium, if any, and
interest on the Notes shall be promptly paid in full when due, whether at Stated Maturity, by acceleration, redemption or otherwise, and
interest on the overdue principal and interest on the Notes, if any, if lawful, and all other Obligations of the Company to the Holders
or the Trustee hereunder or under the Notes shall be promptly paid in full or performed, all in accordance with the terms hereof and thereof;
and (2) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same shall be promptly
paid in full when due or performed in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration
or otherwise. Failing payment by the Company when due of any amount so guaranteed or any performance so guaranteed for whatever reason,
the Guarantors shall be jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is a guarantee of
payment and not a guarantee of collection.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Guarantors hereby agree that their obligations hereunder shall be unconditional, irrespective of the validity, regularity or
enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with
respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other
circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor hereby waives</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require
a proceeding first against the Company, protest, notice and all demands whatsoever and covenants that this Note Guarantee shall not be
discharged except by complete performance of the obligations contained in the Notes and this Indenture, or pursuant to <U>Section&nbsp;10.06</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each of the Guarantors also agrees, jointly and severally, to pay any and all costs and expenses (including reasonable attorneys&rsquo;
fees and expenses) incurred by the Trustee or any Holder in enforcing any rights under this <U>Section&nbsp;10.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If any Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantors or any custodian, trustee,
liquidator or other similar official acting in relation to the Company or the Guarantors, any amount paid either to the Trustee or such
Holder, this Note Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations
guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors,
on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the obligations guaranteed hereby may be accelerated
as provided in <U>Article&nbsp;6</U> for the purposes of this Note Guarantee, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any declaration of acceleration
of such obligations as provided in <U>Article&nbsp;6</U>, such obligations (whether or not due and payable) shall forthwith become due
and payable by the Guarantors for the purpose of this Note Guarantee. The Guarantors shall have the right to seek contribution from any
non-paying Guarantor so long as the exercise of such right does not impair the rights of the Holders under the Note Guarantees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Note Guarantee shall remain in full force and effect and continue to be effective should any petition be filed by or against
the Company for liquidation or reorganization, should the Company become insolvent or make an assignment for the benefit of creditors
or should a receiver or trustee be appointed for all or any significant part of the Company&rsquo;s assets, and shall, to the fullest
extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the
Notes are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the
Notes or the Note Guarantees, whether as a &ldquo;voidable preference,&rdquo; &ldquo;fraudulent transfer&rdquo; or otherwise, all as though
such payment or performance had not been made. In the event that any payment or any part thereof, is rescinded, reduced, restored or returned,
the Notes shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded,
reduced, restored or returned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In case any provision of any Note Guarantee shall be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each payment to be made by a Guarantor in respect of its Note Guarantee shall be made without set-off, counterclaim, reduction
or diminution of any kind or nature.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Guarantor incorporated under the laws of Brazil hereby waives any benefit afforded to it under the laws of Brazil, including
those provided for in Articles 333, sole paragraph, 366, 827, 834, 835, 837, 838 and 839 of the Brazilian Civil Code (Law No. 10,406/2002)
and Articles 130 and 794 of the Brazilian Code of Civil Procedure (Law No. 13,105/2015).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;10.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Limitation on Guarantor Liability</U>. Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it
is the intention of all such parties that the Note Guarantee of such Guarantor not constitute a fraudulent conveyance or a fraudulent
transfer for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal,
Canadian, provincial or state law to the extent applicable to any Note Guarantee. To effectuate the foregoing intention, the Trustee,
the Holders and the Guarantors hereby irrevocably agree that the obligations of each Guarantor shall be limited to the maximum amount
as will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant
under such laws and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf
of any other Guarantor in respect of the obligations of such other Guarantor under this <U>Article&nbsp;10</U>, result in the obligations
of such Guarantor under its Note Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable law. The obligations
of each Guarantor are subject to the limitations set forth in clause&nbsp;(d) of <U>Section&nbsp;4.15</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;10.03<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Execution and Delivery</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To evidence its Note Guarantee set forth in <U>Section&nbsp;10.01</U>, each Guarantor hereby agrees that this Indenture shall be
executed on behalf of such Guarantor by an Officer or person holding an equivalent title.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Guarantor hereby agrees that its Note Guarantee set forth in <U>Section&nbsp;10.01</U> shall remain in full force and effect
notwithstanding the absence of the endorsement of any notation of such Note Guarantee on the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If an Officer whose signature is on this Indenture no longer holds that office at the time the Trustee authenticates any Note,
the Note Guarantees shall be valid nevertheless.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Note
Guarantee set forth in this Indenture on behalf of the Guarantors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If required by <U>Section&nbsp;4.15</U>, the Company shall cause any newly created or acquired Restricted Subsidiary to comply
with the provisions of <U>Section&nbsp;4.15</U> and this <U>Article&nbsp;10</U>, to the extent applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;10.04<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Subrogation</U>. Each Guarantor shall be subrogated to all rights of Holders against the Company in respect of any amounts paid
by any Guarantor pursuant to the provisions of <U>Section&nbsp;10.01</U>; <U>provided</U> that, if an Event of Default has occurred and
is continuing, no Guarantor shall be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation
until all amounts then due and payable by the Company under this Indenture or the Notes shall have been paid in full.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;10.05<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Benefits Acknowledged</U>. Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing
arrangements contemplated by this Indenture and that the guarantee and waivers made by it pursuant to its Note Guarantee are knowingly
made in contemplation of such benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;10.06<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Release of Note Guarantees</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A Note Guarantee by a Guarantor shall be automatically and unconditionally released and discharged, and no further action by such
Guarantor, the Company or the Trustee shall be required for the release of such Guarantor&rsquo;s Note Guarantee, upon:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(A) any sale, assignment, transfer, conveyance, exchange or other disposition (by merger, amalgamation, arrangement, consolidation,
winding up or otherwise) of the Capital Stock of such Guarantor after which the applicable Guarantor is no longer a Restricted Subsidiary
of the Company, which sale, assignment, transfer, conveyance, exchange or other disposition is made in compliance with <U>Section&nbsp;4.10</U>
and <U>Article&nbsp;5</U> (it being understood that only such portion of the Net Available Cash as is required to be applied on or before
the date of such release in accordance with <U>Section&nbsp;4.10</U> needs to be applied in accordance therewith at such time); <U>provided</U>
that all the obligations of such Guarantor under all other Indebtedness of the Company and its Restricted Subsidiaries terminate upon
consummation of such transaction;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Guarantor becoming an Excluded Subsidiary (other than pursuant to clause&nbsp;(b) of the definition of Excluded Subsidiary);
provided that if such released Guarantor ceases to be an Excluded Subsidiary, it will again provide a Note Guarantee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the designation of any Guarantor as an Unrestricted Subsidiary in accordance with the terms of this Indenture; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(D)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company&rsquo;s exercise of its Legal Defeasance option or Covenant Defeasance option in accordance with <U>Article&nbsp;8</U>
or the Company&rsquo;s obligations under this Indenture being discharged in accordance with the terms of <U>Article&nbsp;11</U> of this
Indenture; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Guarantor delivering to the Trustee an Officer&rsquo;s Certificate and an Opinion of Counsel, each stating that (i) all conditions
precedent provided for in this Indenture relating to such transaction and/or release have been complied with and (ii) that such transaction
and/or release is authorized or permitted by the terms of this Indenture and the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>At the written request and at the sole expense of the Company, the Trustee shall execute and deliver any documents reasonably required
in order to evidence such release, discharge and termination in respect of the applicable Note Guarantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Perfection Requirements applicable in case of Guarantors incorporated under the laws of Brazil. In case of any Guarantors incorporated
under the laws of Brazil, (a) the parties executing this Indenture or any Supplemental Indenture agree to (i) in case of execution</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">hereof
or thereof takes place outside the Brazilian territory, have their signatures notarized and apostilled (or legalized at a competent Brazilian
Consulate, as applicable) and (ii) in case of execution hereof or thereof in the Brazilian territory, have their signatures notarized
in accordance with Brazilian law (<I>reconhecimento de firma</I>), in both cases within sixty (60) days as from the date hereof; and (b)
the Company and the Guarantor incorporated under the laws of Brazil shall, at their sole cost and expense, arrange for the registration
of this Indenture (or Supplemental Indenture, as applicable), together with a sworn translation (<I>tradu&ccedil;&atilde;o juramentada</I>)
of it into Portuguese language, with the competent Registry of Deeds and Documents (<I>Cart&oacute;rio de Registro de T&iacute;tulos e
Documentos</I>) in Brazil within sixty (60) days as from the date hereof.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
11<BR>
<BR>
SATISFACTION AND DISCHARGE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;11.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Satisfaction and Discharge</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Indenture shall be discharged and will cease to be of further effect as to all Notes when either:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for which
payment money has been deposited in trust and thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(A)&#9;all Notes not theretofore delivered to the Trustee for cancellation have become due and payable by reason of the giving
of a notice of redemption or otherwise, will become due and payable within one year or may be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the
Company, and the Company or any Guarantor has irrevocably deposited or caused to be deposited with the Trustee, as trust funds in trust
solely for the benefit of the Holders, cash in U.S. dollars, U.S. dollar-denominated Government Securities, or a combination thereof,
in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, without consideration
of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not theretofore delivered to the Trustee for
cancellation for principal, premium, if any, and accrued interest to the date of maturity or redemption;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 1in; text-align: justify; text-indent: 1in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no Default or Event of Default has occurred and is continuing on the date of the deposit or will occur as a result of the deposit
(other than a Default or an Event of Default resulting from borrowing of funds to be applied to such deposit and the grant of any Lien
securing such borrowing) and the deposit will not result in a breach or violation of, or constitute a default under, any material agreement
or instrument (other than this Indenture) to which the Company or any Guarantor is a party or by which the Company or any Guarantor is
bound;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company has paid or caused to be paid all sums payable by it under this Indenture; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(D)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company has delivered irrevocable instructions to the Trustee to apply the deposited money toward the payment of the Notes
at maturity or the redemption date, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In addition, the Company must deliver an Officer&rsquo;s Certificate and an Opinion of Counsel (which Opinion of Counsel may be
subject to customary assumptions and exclusions) to the Trustee, in each case stating that all conditions precedent to satisfaction and
discharge have been satisfied. Notwithstanding the satisfaction and discharge of this Indenture, if money shall have been deposited with
the Trustee pursuant to subclause&nbsp;(A) of clause&nbsp;(2) of <U>Section&nbsp;11.01(a)</U>, the provisions of <U>Section 7.07</U>,
<U>Section 8.06</U>, and <U>Section&nbsp;11.02</U> shall survive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;11.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Application of Trust Money</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the provisions of <U>Section&nbsp;8.06</U>, all money deposited with the Trustee pursuant to <U>Section&nbsp;11.01</U>
shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly
or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled
thereto, of the principal, premium, if any, and interest for whose payment such money has been deposited with the Trustee, but such money
need not be segregated from other funds except to the extent required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with <U>Section&nbsp;11.01</U>
by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining
or otherwise prohibiting such application, the Company&rsquo;s and any Guarantor&rsquo;s obligations under this Indenture, the Notes and
the Note Guarantees shall be revived and reinstated as though no deposit had occurred pursuant to <U>Section&nbsp;11.01</U>; <U>provided</U>
that if the Company has made any payment of principal, premium, if any, or interest on any Notes because of the reinstatement of its obligations,
the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Securities
held by the Trustee or Paying Agent, as the case may be.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
12<BR>
<BR>
MISCELLANEOUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any notice or communication to the Company, any Guarantor or the Trustee is duly given if in writing and (1) delivered in person,
(2) mailed by first-class mail (certified or registered, return receipt requested), postage prepaid, or overnight air courier guaranteeing
next day delivery or (3) sent by facsimile or electronic transmission with transmission confirmed. In each case, the notice or communication
shall be addressed as follows:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0 1in">if to the Company or any Guarantor:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1.5in">Ero Copper Corp.<BR>
Suite 1050 &ndash; 625 Howe Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Vancouver, B.C. V6C 2T6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Fax: [Redacted &ndash; personal information]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Email: [Redacted
&ndash; personal information]</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Attention: Wayne Drier</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in">with a copy to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0 1.5in">Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP<BR>
1285 Avenue of the Americas<BR>
New York, NY 10019-6064</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0 1.5in">Fax: [Redacted &ndash; personal information]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Email: [Redacted &ndash; personal information]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Attention: Christopher
Cummings</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in">if to the Trustee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1.5in">Computershare Trust Company, N.A.<BR>
6200 South Quebec Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Greenwood Village CO 80111</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Attention: Corporate Trust Jerry Urbanek</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in">with a copy to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1.5in">Perkins Coie LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">1155 Avenue of the Americas, 22nd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">New York, NY 10035</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Attention: Ronald Sarubbi, Esq.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company, any Guarantor or the Trustee,
by like notice, may designate additional or different addresses for subsequent notices or communications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All notices and communications (other than those sent to Holders) shall be deemed to have been duly given, whether personally delivered,
sent by facsimile or electronic transmission (in PDF format), or mailed by first-class mail to the address above in <U>Section&nbsp;12.01(a)</U>,
shall be deemed duly given, regardless of whether the addressee receives such notice or communication; <U>provided</U> that any notice
or communication delivered to the Trustee shall be deemed effective only upon receipt thereof by a Responsible Officer of the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any notice or communication to a Holder shall be mailed by first-class mail (certified or registered, return receipt requested)
or by overnight air courier guaranteeing next day delivery to its address shown on the Note Register or by such other delivery system
as the Trustee agrees to accept and shall be deemed to be sufficiently given if so sent within the time prescribed.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Failure to send a
notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive
such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall
be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such
waiver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Where this Indenture provides for notice of any event (including any notice of redemption) to a Holder of a Global Note (whether
by mail or otherwise), such notice shall be sufficiently given if given to the Depositary for such Note (or its designee), pursuant to
the applicable procedures of such Depositary, if any, prescribed for the giving of such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee agrees to accept and act upon notice, instructions or directions pursuant to this Indenture sent by unsecured facsimile
or electronic transmission (in PDF format); <U>provided</U>, <U>however</U>, that (1) the party providing such written notice, instructions
or directions, subsequent to such transmission of written instructions, shall provide the originally executed instructions or directions
to the Trustee in a timely manner, (2) such originally executed notice, instructions or directions shall be signed by an authorized representative
of the party providing such notice, instructions or directions and (3) receipt of such unsecured facsimile or electronic transmissions
is confirmed by a Responsible Officer of the Trustee. The Trustee shall not be liable for any losses, costs or expenses arising directly
or indirectly from the Trustee&rsquo;s reasonable reliance upon and compliance with such notice, instructions or directions notwithstanding
such notice, instructions or directions conflict or are inconsistent with a subsequent notice, instructions or directions. The words &ldquo;execution,&rdquo;
&ldquo;signed,&rdquo; &ldquo;signature,&rdquo; &ldquo;delivery,&rdquo; and words of like import in or relating to this Indenture or any
document to be signed in connection with this Indenture (including, without limitation, the Notes, any Note Guarantee and any Officer&rsquo;s
Certificate) shall be deemed to include electronic signatures, including without limitation, digital signature provided by DocuSign (or
such other digital signature provider as specified in writing to the Trustee by the authorized representative), each of which shall be
of the same legal effect, validity or enforceability as a manually executed signature. The Company agrees to assume all risks arising
out of the use of using digital signatures and electronic methods to submit communications to the Trustee, including without limitation
the risk of the Trustee acting on unauthorized instructions, and the risk of interception and misuse by third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Company sends a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Communication by Holders with Other Holders</U>. Holders may communicate with other Holders with respect to their rights under
this Indenture or the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;12.03<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Certificate and Opinion as to Conditions Precedent</U>. Upon any request or application by the Company or any Guarantor to the
Trustee to take any action under this Indenture, the Company or such Guarantor, as the case may be, shall furnish to the Trustee:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>an Officer&rsquo;s Certificate in form and substance reasonably satisfactory to the Trustee (which shall include the statements
set forth in <U>Section&nbsp;12.04</U>) stating that, in the opinion of the signer(s), all conditions precedent and covenants, if any,
provided for in this Indenture relating to the proposed action have been complied with; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth
in <U>Section&nbsp;12.04</U>) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been complied
with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.04<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Statements Required in Certificate or Opinion</U>. Each certificate or opinion with respect to compliance with a condition or
covenant provided for in this Indenture (other than a certificate provided pursuant to <U>Section&nbsp;4.04</U>) shall include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a statement that the Person making such certificate or opinion has read such covenant or condition and the related definitions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable
him or her to express an informed opinion as to whether or not such covenant or condition has been complied with (and, in the case of
an Opinion of Counsel, may be limited to reliance on an Officer&rsquo;s Certificate as to matters of fact); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a statement as to whether or not, in the opinion of such Person, such covenant or condition has been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.05<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Rules by Trustee and Agents</U>. The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.06<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Personal Liability of Directors, Officers, Employees, Members, Partners and Shareholders</U>. No past, present or future
director, officer, employee, incorporator, member, partner or shareholder of the Company or any Guarantor shall have any liability for
any obligations of the Company or the Guarantors under the Notes, the Note Guarantees or this Indenture or for any claim based on, in
respect of, or by reason of such obligations or their creation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Each Holder by accepting
a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;12.07<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Governing Law</U>. THIS INDENTURE, THE NOTES AND ANY NOTE GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.08<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Waiver of Jury Trial</U>. EACH OF THE COMPANY, THE GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE,
THE NOTES, THE NOTE GUARANTEES OR THE TRANSACTIONS CONTEMPLATED HEREBY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.09<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Adverse Interpretation of Other Agreements</U>. This Indenture may not be used to interpret any other indenture, loan or
debt agreement of the Company or its Restricted Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may not
be used to interpret this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Successors</U>. All agreements of the Company in this Indenture and the Notes shall bind its successors. All agreements of the
Trustee in this Indenture shall bind its successors and assigns. All agreements of each Guarantor in this Indenture shall bind its successors,
except as otherwise provided in <U>Section&nbsp;10.06</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Severability</U>. In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Counterpart Originals</U>. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original,
but all of them together represent the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or
..pdf transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu
of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or .pdf shall be deemed to be their
original signatures for all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Table of Contents, Headings, etc</U>. The Table of Contents, Cross-Reference Table and headings of the Articles and Sections
of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and shall in
no way modify or restrict any of the terms or provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>U.S.A. PATRIOT Act</U>. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. PATRIOT Act, the Trustee
is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens
an account with the Trustee. The parties to this Indenture agree that they shall provide the Trustee with such information as it may request
in order for the Trustee to satisfy the requirements of the U.S.A. PATRIOT Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;12.15<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payments Due on Non-Business Days</U>. In any case where any Interest Payment Date, redemption date or repurchase date or the
Stated Maturity of the Notes shall not be a Business Day, then (notwithstanding any other provision of this Indenture or of the Notes)
payment of principal, premium, if any, or interest on the Notes need not be made on such date, but may be made on the next succeeding
Business Day with the same force and effect as if made on the Interest Payment Date, redemption date or repurchase date, or at the Stated
Maturity of the Notes; <U>provided</U></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">that no interest will accrue for the period from and after such Interest Payment Date, redemption
date, repurchase date or Stated Maturity, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.16<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Submission to Jurisdiction</U>. The Company and each Guarantor not organized in the United States shall appoint CT Corporation
as its agent for service of process in any suit, action or proceeding with respect to this Indenture, the Notes and the Note Guarantees
and for actions brought under the U.S. federal or state securities laws brought in any U.S. federal or state court located in the Borough
of Manhattan in the County and City of New York. The Company and each Guarantor irrevocably and unconditionally submit to the non-exclusive
jurisdiction of the state and federal courts sitting in the Borough of Manhattan in the County and City of New York over any suit, action
or proceeding arising out of or relating to this Indenture, the Notes or the Note Guarantees and for actions brought under the U.S. federal
or state securities laws. Service of any process, summons, notice or document by registered mail addressed to the Company or any Guarantor
at the address above in <U>Section&nbsp;12.01</U> shall be effective service of process against the Company or any Guarantor for any suit,
action or proceeding brought in any such court. The Company and each Guarantor irrevocably and unconditionally waives any objection to
the laying of venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding
has been brought in an inconvenient forum. A final judgment in any such suit, action or proceeding brought in any such court shall be
conclusive and binding upon the Company and each Guarantor and may be enforced in any other courts to whose jurisdiction the Company is
or may be subject, by suit upon judgment. The Company and each Guarantor further agrees that nothing herein shall affect any Holder&rsquo;s
right to effect service of process in any other manner permitted by law or bring a suit action or proceeding (including a proceeding for
enforcement of a judgment) in any other court or jurisdiction in accordance with applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Section&nbsp;12.17<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Waiver of Immunity</U>. To the extent that each of the Company and the Guarantors, or any of their respective properties, assets
or revenues may have or may hereafter become entitled to, or have attributed to each of the Company and the Guarantors, any right of immunity,
on the grounds of sovereignty or otherwise, from any legal action, suit or proceeding, from the giving of any relief in any such legal
action, suit or proceeding, from setoff or counterclaim, from the jurisdiction of any Canadian, New York state or U.S. federal court,
from service of process, from attachment upon or prior to judgment, from attachment in aid of execution of judgment, or from execution
of judgment, or other legal process or proceeding for the giving of any relief or for the enforcement of any judgment, in any such court
in which proceedings may at any time be commenced, with respect to the obligations and liabilities of each of the Company and the Guarantors
or any other matter under or arising out of or in connection with this Indenture, each of the Company and the Guarantors hereby irrevocably
and unconditionally waives or will waive such right to the extent permitted by applicable law, and agrees not to plead or claim, any such
immunity and consent to such relief and enforcement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Section&nbsp;12.18<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Calculations</U><FONT STYLE="color: windowtext">. The Company shall be responsible for making all calculations called for under
this Indenture and the Notes, including but not limited to determination of redemption price, premium, if any, and any additional amounts
or other amounts payable on the Notes. The Company will make all such calculations in good faith and, absent manifest error, its calculations
will be final and binding on Holders. The Company shall provide a schedule of its calculations to the Trustee and the Trustee is entitled
to rely conclusively upon the accuracy of</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="color: windowtext">such calculations without independent verification. The Company shall deliver a copy of such
schedule to any Holder upon the written request of such Holder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">[<I>Signatures on following page</I>]</P>

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

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

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

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

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    <!-- Field: /Page -->

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="3">ERO COPPER CORP.</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 30%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Wayne Drier</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>Wayne Drier</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
  <TD>Chief Financial Officer</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>[Signature Page to Indenture]</I></P>

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

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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="3">MINERA&Ccedil;&Atilde;O CARA&Iacute;BA S.A., as a Guarantor</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 30%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Eduardo de Come</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>Eduardo de Come</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
  <TD>CFO</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Antonio B. de Carvalho Neto</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>Antonio B. de Carvalho Neto</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
  <TD>GLC</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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


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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2">Witnesses:</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 30%">&nbsp;</TD>
  <TD STYLE="width: 65%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>1.</TD>
  <TD STYLE="border-bottom: Black 1pt solid">/s/ Caroline Shohet</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Name:</TD>
  <TD>Caroline Shohet</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>ID:</TD>
  <TD>46.697.455-3</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>CPF/MF: </TD>
  <TD>413.695.448-47</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 5%">2.</TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 30%">/s/ Jessica Belber Cavalcanti</TD>
  <TD STYLE="width: 65%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Name:</TD>
  <TD>Jessica Belber Cavalcanti</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>ID:</TD>
  <TD>48728930-4</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>CPF/MF: </TD>
  <TD>409.149.028.06</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>[Signature Page to Indenture]</I></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="3">COMPUTERSHARE TRUST COMPANY, N.A.<FONT STYLE="text-transform: uppercase">, </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as
  Trustee</FONT><FONT STYLE="text-transform: uppercase">,</FONT></TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 30%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jerry Urbanek</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>Jerry Urbanek</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
  <TD>Trust Officer</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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



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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>[Signature Page to Indenture]</I></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">PROVISIONS RELATING TO<BR>
INITIAL NOTES AND ADDITIONAL NOTES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section&nbsp;1.1&#9;<U>Definitions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Capitalized
Terms</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Capitalized terms used but
not defined in this <U>Appendix&nbsp;A</U> have the meanings given to them in the Indenture. The following capitalized terms have the
following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Applicable Procedures</U>&rdquo;
means, with respect to any transfer or transaction involving a Global Note or beneficial interest therein, the rules and procedures of
the Depositary for such Global Note, Euroclear or Clearstream, in each case to the extent applicable to such transaction and as in effect
from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Clearstream</U>&rdquo;
means Clearstream Banking, Soci&eacute;t&eacute; Anonyme, or any successor securities clearing agency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Distribution Compliance
Period</U>&rdquo;, with respect to any Note, means the period of 40 consecutive days beginning on and including the later of (a) the day
on which such Note is first offered to persons other than distributors (as defined in Regulation S) in reliance on Regulation S, notice
of which day shall be promptly given by the Company to the Trustee, and (b) the date of issuance with respect to such Note or any predecessor
of such Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Euroclear</U>&rdquo;
means Euroclear Bank S.A./N.Y., as operator of Euroclear systems clearance system or any successor securities clearing agency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>IAI</U>&rdquo;
means an institution that is an &ldquo;accredited investor&rdquo; as described in Rule 501(a)(1), (2), (3) or (7) under the Securities
Act and is not a QIB.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>QIB</U>&rdquo;
means a &ldquo;qualified institutional buyer&rdquo; as defined in Rule 144A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Regulation S</U>&rdquo;
means Regulation S promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Rule 144</U>&rdquo;
means Rule 144 promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Rule 144A</U>&rdquo;
means Rule 144A promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Unrestricted Global
Note</U>&rdquo; means any Note in global form that does not bear or is not required to bear the Restricted Notes Legend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>U.S. person</U>&rdquo;
means a &ldquo;U.S. person&rdquo; as defined in Regulation S.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Definitions</U>.</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="border-bottom: Black 1pt solid">Term:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">Defined in Section:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 79%">&ldquo;Agent Members&rdquo;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 20%">2.1(c)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;Canadian Restricted Legend&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.3(e)</TD></TR>
</TABLE>

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

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

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<P STYLE="margin: 0">&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="border-bottom: Black 1pt solid">Term:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">Defined in Section:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 79%">&ldquo;Definitive Notes Legend&rdquo;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 20%">2.3(e)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;Global Note&rdquo; </TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;Global Notes Legend&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.3(e)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;IAI Global Note&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;Regulation S Global Note&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;Regulation S Notes&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;Restricted Notes Legend&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.3(e)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;Rule 144A Global Note&rdquo;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&ldquo;Rule 144A Notes&rdquo; </TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.1(a)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section&nbsp;2.1&#9;<U>Form and Dating</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Initial Notes issued on the date hereof shall be (i) offered and sold by the Company to the Initial Purchasers and (ii) resold, initially
only to (1) QIBs in reliance on Rule 144A (&ldquo;<U>Rule 144A Notes</U>&rdquo;) and (2) Persons other than U.S. persons in reliance on
Regulation S (&ldquo;<U>Regulation S Notes</U>&rdquo;). Such Initial Notes may thereafter be transferred to, among others, QIBs, purchasers
in reliance on Regulation S and, except as set forth below, IAIs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Global
Notes</U>. Rule 144A Notes shall be issued initially in the form of one or more permanent global Notes in definitive, fully registered
form, numbered A-1 upward (collectively, the &ldquo;<U>Rule 144A Global Note</U>&rdquo;) and Regulation S Notes shall be issued initially
in the form of one or more global Notes, numbered S-1 upward (collectively, the &ldquo;<U>Regulation S Global Note</U>&rdquo;), in each
case without interest coupons and bearing the Global Notes Legend and Restricted Notes Legend, which shall be deposited on behalf of the
purchasers of the Notes represented thereby with the Custodian, and registered in the name of the Depositary or a nominee of the Depositary,
duly executed by the Company and authenticated by the Trustee as provided in the Indenture. One or more global Notes in definitive, fully
registered form without interest coupons and bearing the Global Notes Legend and the Restricted Notes Legend, numbered I-1 upward (collectively,
the &ldquo;<U>IAI Global Note</U>&rdquo;) shall also be issued on the Issue Date, deposited with the Custodian, and registered in the
name of the Depositary or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as provided in the
Indenture to accommodate transfers of beneficial interests in the Notes to IAIs after the initial distribution. Beneficial ownership interests
in the Regulation S Global Note shall not be exchangeable for interests in the Rule 144A Global Note, the IAI Global Note or any Note
without a Restricted Notes Legend until the expiration of the Distribution Compliance Period. The Rule 144A Global Note, the IAI Global
Note, the Regulation S Global Note and any Unrestricted Global Note are each referred to herein as a &ldquo;<U>Global Note</U>&rdquo;
and are collectively referred to herein as &ldquo;<U>Global Notes</U>.&rdquo; Each Global Note shall represent such of the outstanding
Notes as shall be specified in the &ldquo;Schedule of Exchanges of Interests in the Global Note&rdquo; attached thereto and each shall
provide that it shall represent the aggregate principal amount of Notes from time to time endorsed thereon and that the aggregate principal
amount of outstanding Notes represented thereby may from time to time be reduced or increased, as applicable, to reflect exchanges and
redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding
Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions
given by the Holder thereof as required by Section 2.06 of the Indenture and <U>Section&nbsp;2.3(c)</U> of this <U>Appendix&nbsp;A</U>.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Book-Entry
Provisions</U>. This <U>Section&nbsp;2.1(c)</U> shall apply only to a Global Note deposited with or on behalf of the Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The Company shall execute
and the Trustee shall, in accordance with this <U>Section&nbsp;2.1(c)</U> and <U>Section&nbsp;2.2</U> of this <U>Appendix&nbsp;A</U>,
and pursuant to an Authentication Order of the Company, authenticate and deliver initially one or more Global Notes that (i) shall be
registered in the name of the Depositary for such Global Note or Global Notes or the nominee of such Depositary and (ii) shall be delivered
by the Trustee to such Depositary or pursuant to such Depositary&rsquo;s instructions or held by Computershare Trust Company, N.A., a
national association, as Custodian.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Members of, or participants
in, the Depositary (&ldquo;<U>Agent Members</U>&rdquo;) shall have no rights under the Indenture with respect to any Global Note held
on their behalf by the Depositary or by Computershare Trust Company, N.A., a national association, as Custodian, or under such Global
Note, and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner
of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee
or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by
the Depositary or impair, as between the Depositary and its Agent Members, the operation of customary practices of such Depositary governing
the exercise of the rights of a holder of a beneficial interest in any Global Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitive
Notes</U>. Except as provided in <U>Section&nbsp;2.3</U> or <U>Section&nbsp;2.4</U> of this <U>Appendix&nbsp;A</U>, owners of beneficial
interests in Global Notes shall not be entitled to receive physical delivery of Definitive Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section&nbsp;2.2&#9;<U>Authentication
Order</U>. The Trustee shall authenticate and make available for delivery upon receipt of an Authentication Order from the Company (a)
Initial Notes for original issue on the Issue Date in an aggregate principal amount of $400,000,000, (b) subject to the terms of the Indenture,
Additional Notes, and (c) any Unrestricted Global Notes issued in exchange for any of the foregoing in accordance with the Indenture.
Such Authentication Order shall specify the amount of the Notes to be authenticated, the date on which the original issue of Notes is
to be authenticated and whether the Notes are to be Initial Notes, Additional Notes or Unrestricted Global Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section&nbsp;2.3&#9;<U>Transfer
and Exchange</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transfer
and Exchange of Definitive Notes for Definitive Notes</U>. When Definitive Notes are presented to the Registrar with a request:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
register the transfer of such Definitive Notes; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
exchange such Definitive Notes for an equal principal amount of Definitive Notes of other authorized denominations,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">the Registrar shall register the transfer or
make the exchange as requested if its reasonable requirements for such transaction are met; provided, however, that the Definitive Notes
surrendered for transfer or exchange:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Registrar,
duly executed by the Holder thereof or his attorney duly authorized in writing; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 1in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of Transfer Restricted Notes, they are being transferred or exchanged pursuant to <U>Section&nbsp;2.3(b)</U> of this <U>Appendix&nbsp;A</U>
or pursuant to clause&nbsp;(A), (B) or (C) below, and are accompanied by the following additional information and documents, as applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 1in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
such Definitive Notes are being delivered to the Registrar by a Holder for registration in the name of such Holder, without transfer,
a certification from such Holder to that effect (in the form set forth on the reverse side of the Initial Note); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 1in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
such Definitive Notes are being transferred to the Company, a certification to that effect (in the form set forth on the reverse side
of the Initial Note); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 1in">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
such Definitive Notes are being transferred pursuant to an exemption from registration in accordance with (i) Rule 144A, (ii) Regulation
S, (iii) Rule 144 under the Securities Act or (iv) in reliance upon another exemption from the registration requirements of the Securities
Act, (x) a certification to that effect (in the form set forth on the reverse side of the Initial Note) and (y) if the Company or the
Trustee so requests in connection with transfers described in clauses&nbsp;(ii), (iii) or (iv), an opinion of counsel or other evidence
reasonably satisfactory to it as to the compliance with the restrictions set forth in the applicable legend set forth in <U>Section&nbsp;2.3(e)(i)</U>
of this <U>Appendix&nbsp;A</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restrictions
on Transfer of a Definitive Note for a Beneficial Interest in a Global Note</U>. A Definitive Note may not be exchanged for a beneficial
interest in a Global Note except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a Definitive Note,
duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Registrar, together
with:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)
certification (in the form set forth on the reverse side of the Initial Note) that such Definitive Note is being transferred (1) to a
Person who the transferor reasonably believes is a QIB and in accordance with Rule 144A, (2) to an IAI that has furnished to the Trustee
a signed letter substantially in the form of <U>Exhibit&nbsp;B</U> or (3) outside the United States of America in an offshore transaction
within the meaning of Regulation S and in compliance with Rule 904 under the Securities Act or (B) such other certification and, in the
case of transfers described in clauses&nbsp;(A)(2) or (A)(3) above, opinion of counsel as the Company or the Trustee shall require; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;written
instructions directing the Trustee to make, or to direct the Custodian to make, an adjustment on its books and records with respect to
such Global</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">Note to reflect an increase in the aggregate principal amount of the Notes represented by the Global Note, such instructions
to contain information regarding the Depositary account to be credited with such increase,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">the Trustee shall cancel such Definitive Note
and cause, or direct the Custodian to cause, in accordance with the standing instructions and procedures existing between the Depositary
and the Custodian, the aggregate principal amount of Notes represented by the Global Note to be increased by the aggregate principal amount
of the Definitive Note to be exchanged and shall credit or cause to be credited to the account of the Person specified in such instructions
a beneficial interest in the Global Note equal to the principal amount of the Definitive Note so canceled. If no Global Notes are then
outstanding, the Company may issue and the Trustee shall authenticate, upon receipt of an Authentication Order of the Company in the form
of an Officer&rsquo;s Certificate, a new Global Note in the appropriate principal amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transfer
and Exchange of Global Notes</U>. (i) The transfer and exchange of Global Notes or beneficial interests therein shall be effected through
the Depositary, in accordance with the Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures
of the Depositary therefor. A transferor of a beneficial interest in a Global Note shall deliver to the Registrar a written order given
in accordance with the Depositary&rsquo;s procedures containing information regarding the participant account of the Depositary to be
credited with a beneficial interest in such Global Note or another Global Note, and such account shall be credited in accordance with
such order with a beneficial interest in the applicable Global Note, and the account of the Person making the transfer shall be debited
by an amount equal to the beneficial interest in the Global Note being transferred. Transfers by an owner of a beneficial interest in
a Rule 144A Global Note or an IAI Global Note to a transferee who takes delivery of such interest through a Regulation S Global Note,
whether before or after the expiration of the Distribution Compliance Period, shall be made only upon receipt by the Trustee of a certification
in the form provided on the reverse side of the Initial Notes from the transferor to the effect that such transfer is being made in accordance
with Regulation S, Rule 144 (if available), or another applicable exemption from registration under the Securities Act, and that, if such
transfer is being made before the expiration of the Distribution Compliance Period, the interest transferred shall be held immediately
thereafter through Euroclear or Clearstream. In the case of a transfer of a beneficial interest in either a Regulation S Global Note (to
the extent provided in <U>Section&nbsp;2.3(d)</U> of this <U>Appendix&nbsp;A</U>) or a Rule 144A Global Note for an interest in an IAI
Global Note, the transferee must furnish a signed letter substantially in the form of <U>Exhibit&nbsp;B</U> to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the proposed transfer is a transfer of a beneficial interest in one Global Note to a beneficial interest in another Global Note, the Registrar
shall reflect on its books and records the date and an increase in the principal amount of the Global Note to which such interest is being
transferred in an amount equal to the principal amount of the interest to be so transferred, and the Registrar shall reflect on its books
and records the date and a corresponding decrease in the principal amount of the Global Note from which such interest is being transferred.
If the Company or the Trustee so requests in connection with transfer of a beneficial interest in one Global Note to a beneficial interest
in another Global Note, other than a transfer to a beneficial interest in a Rule 144A Global Note, such request for transfer shall be
accompanied by an opinion of counsel or other evidence</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">reasonably satisfactory to it as to the compliance with the restrictions set forth
in the applicable legend set forth in <U>Section&nbsp;2.3(e)(i)</U> of this <U>Appendix&nbsp;A</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any other provisions of this <U>Appendix&nbsp;A</U> (other than the provisions set forth in <U>Section&nbsp;2.4</U> of this <U>Appendix&nbsp;A</U>),
a Global Note may not be transferred except as a whole and not in part by the Depositary to a nominee of the Depositary or by a nominee
of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary
or a nominee of such successor Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restrictions
on Transfer of Regulation S Global Note</U>. (i) Before the expiration of the Distribution Compliance Period, (A) the Regulation S Global
Note shall be a temporary global security for purposes of Rules 903 and 904 under the Securities Act, whether or not designated as such
on the face of such Note, and (B) interests in the Regulation S Global Note may only be held through Euroclear or Clearstream. During
the Distribution Compliance Period, beneficial ownership interests in the Regulation S Global Note may only be sold, pledged or transferred
through Euroclear or Clearstream in accordance with the Applicable Procedures and only (1) to the Company, (2) so long as such Note is
eligible for resale pursuant to Rule 144A, to a Person whom the selling holder reasonably believes is a QIB that purchases for its own
account or for the account of a QIB and to whom notice is given that the resale, pledge or transfer is being made in reliance on Rule
144A, (3) in an offer and sale that occur outside the United States within the meaning of Regulation S, (4) pursuant to an exemption from
registration under the Securities Act provided by Rule 144 (if applicable) or another available exemption, (5) to an IAI purchasing for
its own account, or for the account of an IAI, in a minimum principal amount of Notes of $250,000, for investment purposes and not with
a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act or (6) pursuant to an effective
registration statement under the Securities Act, in each case in accordance with any applicable securities laws of any state of the United
States of America. Before the expiration of the Distribution Compliance Period, transfers by an owner of a beneficial interest in the
Regulation S Global Note to a transferee who takes delivery of such interest through a Rule 144A Global Note or an IAI Global Note shall
be made only in accordance with the Applicable Procedures and upon receipt by the Trustee of a written certification from the transferor
of the beneficial interest in the form provided on the reverse side of the Initial Notes to the effect that such transfer is being made
to (x) a Person who the transferor reasonably believes is a QIB within the meaning of Rule 144A in a transaction meeting the requirements
of Rule 144A or (y) an IAI purchasing for its own account, or for the account of such an IAI, in a minimum principal amount of the Notes
of $250,000. Such written certification shall no longer be required after the expiration of the Distribution Compliance Period. In the
case of a transfer of a beneficial interest in the Regulation S Global Note for an interest in the IAI Global Note, the transferee must
furnish a signed letter substantially in the form of <U>Exhibit&nbsp;B</U> to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the expiration of the Distribution Compliance Period, beneficial ownership interests in the Regulation S Global Note shall be transferable
in accordance with applicable law and the other terms of the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the expiration of the Distribution Compliance Period, beneficial interests in the Regulation S Global Note may be exchanged for beneficial</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">interests in an Unrestricted Global Note upon certification in the form provided on the reverse side of the Initial Notes to the effect
that such beneficial interests are owned either (A) by non-U.S. persons (who are not dealers, as defined in the Securities Act) or (B)
by U.S. persons (who are not dealers, as defined in the Securities Act) who purchased those interests pursuant to an exemption from, or
in transactions not subject to, the registration requirements of the Securities Act or (C) by dealers (as defined in the Securities Act)
where such beneficial interests do not constitute the whole or a part of an unsold allotment to or subscription by such dealer for the
Notes. If no such Regulation S Global Note that is an Unrestricted Global Note is then outstanding, the Company shall issue and the Trustee
shall authenticate, upon receipt of an Authentication Order from the Company in the form of an Officer&rsquo;s Certificate, a new Global
Note in the appropriate principal amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legends</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as permitted by this <U>Section&nbsp;2.3(e)</U> of this <U>Appendix&nbsp;A</U>, each Note certificate evidencing the Global Notes and
the Definitive Notes (and all Notes issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following
form (each defined term in the legend being defined as such for purposes of the legend only) (&ldquo;<U>Restricted Notes Legend</U>&rdquo;;
and the third paragraph of which is herein referred to as the &ldquo;<U>Canadian Restricted Legend</U>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 0in">THE NOTES EVIDENCED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;), OR OTHER SECURITIES LAWS.
NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS THE TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM
SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES THAT IT
WILL NOT PRIOR TO (X) IN THE CASE OF 144A NOTES, THE DATE WHICH IS ONE YEAR (OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER
THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THEREUNDER) AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF (OR OF ANY PREDECESSOR OF
THIS NOTE), THE DATE OF ORIGINAL ISSUANCE OF ANY ADDITIONAL NOTES OR THE LAST DAY ON WHICH ERO COPPER CORP. (THE &ldquo;COMPANY&rdquo;)
OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) AND (Y) IN THE CASE OF REGULATION S NOTES,
THE EXPIRATION OF THE &ldquo;40-DAY DISTRIBUTION COMPLIANCE PERIOD&rdquo; WITHIN THE MEANING OF RULE 903 OF REGULATION S (THE &ldquo;RESALE
RESTRICTION TERMINATION DATE&rdquo;), OFFER, SELL OR OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO THE COMPANY, (B) PURSUANT TO A REGISTRATION
STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO
RULE 144A,</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">TO A PERSON IT REASONABLY BELIEVES IS A &ldquo;QUALIFIED INSTITUTIONAL BUYER&rdquo; AS DEFINED IN RULE 144A UNDER THE SECURITIES
ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER
IS BEING MADE IN RELIANCE ON RULE 144A INSIDE THE UNITED STATES, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE
THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL ACCREDITED INVESTOR (WITHIN THE
MEANING OF RULE 501(A)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT) THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER
INSTITUTIONAL ACCREDITED INVESTOR; OR (F) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT; PROVIDED THAT THE COMPANY, THE TRUSTEE AND THE REGISTRAR SHALL HAVE THE RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (I) PURSUANT
TO CLAUSE&nbsp;(D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY
TO EACH OF THEM, AND (II) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A CERTIFICATION OF TRANSFER IN THE FORM APPEARING ON THE OTHER
SIDE OF THIS NOTE IS COMPLETED AND DELIVERED BY THIS TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER
AFTER THE RESALE RESTRICTION TERMINATION DATE. AS USED HEREIN, THE TERMS &ldquo;OFFSHORE TRANSACTION,&rdquo; &ldquo;UNITED STATES&rdquo;
AND &ldquo;U.S. PERSON&rdquo; HAVE THE MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">BY ITS ACQUISITION
OF THIS SECURITY, THE HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY
SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S.
EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (&ldquo;ERISA&rdquo;), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT
THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE &ldquo;CODE&rdquo;) OR PROVISIONS UNDER ANY
OTHER FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (&ldquo;SIMILAR
LAWS&rdquo;), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE &ldquo;PLAN ASSETS&rdquo; OF ANY SUCH PLAN, ACCOUNT OR
ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION
406 OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 0in">UNDER CANADIAN SECURITIES
LAWS, UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">TRADE THE SECURITY BEFORE [NOTE: THE DATE THAT
IS 4 MONTHS AND A DAY AFTER THE ORIGINAL DISTRIBUTION DATE OF THE NOTES WILL BE INSERTED HERE].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Definitive Note shall bear the following
additional legend (&ldquo;<U>Definitive Notes Legend</U>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">IN CONNECTION WITH
ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR AND
TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Global Note shall bear the following additional
legend (&ldquo;<U>Global Notes Legend</U>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (&ldquo;DTC&rdquo;), NEW YORK, NEW
YORK, TO ERO COPPER CORP. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN
THE NAME OF CEDE &amp; CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
&amp; CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &amp; CO., HAS AN INTEREST HEREIN.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">TRANSFERS OF THIS GLOBAL
SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR&rsquo;S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH
IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
any sale or transfer of a Transfer Restricted Note that is a Definitive Note, the Registrar shall permit the Holder thereof to exchange
such Transfer Restricted Note for a Definitive Note that does not bear the Restricted Notes Legend and the Definitive Notes Legend and
rescind any restriction on the transfer of such Transfer Restricted Note if the Holder certifies in writing to the Registrar that its
request for such exchange was made in reliance on Rule 144 (such certification to be in the form set forth on the reverse side of the
Initial Notes).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
a sale or transfer after the expiration of the Distribution Compliance Period of any Initial Note or Additional Note acquired pursuant
to Regulation S, all requirements that such Initial Note or Additional Note bear the Restricted Notes Legend shall cease to apply and
the requirements requiring any such Initial Note or Additional Note be issued in global form shall continue to apply.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything in the Indenture or this <U>Appendix&nbsp;A</U> to the contrary, the Canadian Restricted Legend will appear on any Initial Notes
or Additional Notes that are issued prior to the date specified in the Canadian Restricted Legend, unless the Canadian Restricted Legend
is no longer required under any applicable Canadian securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cancellation
or Adjustment of Global Note</U>. At such time as all beneficial interests in a Global Note have either been exchanged for Definitive
Notes, transferred, redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation
or retained and canceled by the Trustee. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged
for Definitive Notes, transferred in exchange for an interest in another Global Note, redeemed, repurchased or canceled, the principal
amount of Notes represented by such Global Note shall be reduced and an adjustment shall be made on the books and records of the Trustee
(if it is then the Custodian for such Global Note) with respect to such Global Note, by the Trustee or the Custodian, to reflect such
reduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Obligations
with Respect to Transfers and Exchanges of Notes</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
permit registrations of transfers and exchanges, the Company shall execute and the Trustee, upon receipt of an Authentication Order, shall
authenticate, Definitive Notes and Global Notes at the Registrar&rsquo;s request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
service charge shall be made for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes,
assessments or similar governmental charge payable upon exchanges pursuant to Sections 2.10, 3.06, 3.10, 4.10, 4.14 and 9.05 of the Indenture).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the due presentation for registration of transfer of any Note, the Company, the Trustee, the Paying Agent or the Registrar may deem
and treat the person in whose name a Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal
of and interest on such Note and for all other purposes whatsoever, whether or not such Note is overdue, and none of the Company, the
Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Notes issued upon any transfer or exchange pursuant to the terms of the Indenture shall evidence the same debt and shall be entitled to
the same benefits under the Indenture as the Notes surrendered upon such transfer or exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Obligation of the Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee shall have no responsibility or obligation to any beneficial owner of a Global Note, a member of, or a participant in the Depositary
or any other Person with respect to the accuracy of the records of the Depositary or its nominee or of any participant or member thereof,
with respect to any ownership interest in the Notes or with respect to the delivery to any participant, member, beneficial owner or other
Person (other than the Depositary) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under
or with respect to such Notes. All notices</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">and communications to be given to the Holders and all payments to be made to Holders under
the Notes shall be given or made only to the registered Holders (which shall be the Depositary or its nominee in the case of a Global
Note). The rights of beneficial owners in any Global Note shall be exercised only through the Depositary subject to the applicable rules
and procedures of the Depositary. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depositary
with respect to its members, participants and any beneficial owners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Trustee, Registrar nor any transfer agent shall have any obligation or duty to monitor, determine or inquire as to compliance with
any restrictions on transfer or exchange imposed under the Indenture or under applicable law with respect to any transfer or exchange
of any interest in any Note (including any transfers between or among Depositary participants or other beneficial owners of interests
in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required
by, and to do so if and when expressly required by, the terms of the Indenture, and to examine the same to determine substantial compliance
as to form with the express requirements hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
purported transfer of such note, or any interest therein to a purchaser or transferee that does not comply with the requirements specified
in this <U>Section&nbsp;2.3</U> will be of no force and effect and shall be null and void ab initio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section&nbsp;2.4&#9;<U>Definitive
Notes</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Global Note deposited with the Depositary or with Computershare Trust Company, N.A., a national association, as Custodian pursuant to
<U>Section&nbsp;2.1</U> of this <U>Appendix&nbsp;A</U> may be transferred to the beneficial owners thereof in the form of Definitive Notes
in an aggregate principal amount equal to the principal amount of such Global Note, in exchange for such Global Note, only if such transfer
complies with <U>Section&nbsp;2.3</U> of this <U>Appendix&nbsp;A</U> and (i) the Depositary notifies the Company that it is unwilling
or unable to continue as a Depositary for such Global Note or if at any time the Depositary ceases to be a &ldquo;clearing agency&rdquo;
registered under the Exchange Act and, in each case, a successor depositary is not appointed by the Company within 90 days of such notice
or after the Company becomes aware of such cessation, or (ii) an Event of Default has occurred and is continuing and the Registrar has
received a request from the Depositary or (iii) the Company, in its sole discretion and subject to the procedures of the Depositary, notifies
the Trustee in writing that it elects to cause the issuance of Definitive Notes under the Indenture. In addition, any Affiliate of the
Company or any Guarantor that is a beneficial owner of all or part of a Global Note may have such Affiliate&rsquo;s beneficial interest
transferred to such Affiliate in the form of a Definitive Note, by providing a written request to the Company and the Trustee and such
Opinions of Counsel, certificates or other information as may be required by the Indenture or the Company or Trustee. Notwithstanding
anything to the contrary in this <U>Section&nbsp;2.4</U>, no Regulation S Global Note may be exchanged for a Definitive Note until the
end of the Distribution Compliance Period applicable to such Regulation S Global Note and receipt by the Trustee and the Company of any
certificates required by either of them pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
Global Note that is transferable to the beneficial owners thereof pursuant to this <U>Section&nbsp;2.4</U> shall be surrendered by the
Depositary to the Trustee, to be so transferred, in whole or from time to time in part, without charge, and the Trustee shall authenticate
and deliver, upon such transfer of each portion of such Global Note, an equal aggregate principal amount of Definitive Notes of authorized
denominations. Any portion of a Global Note transferred pursuant to this <U>Section&nbsp;2.4</U> shall be executed, authenticated and
delivered only in denominations of $2,000 and integral multiples of $1,000 in excess thereof and registered in such names as the Depositary
shall direct. Any certificated Initial Note or Additional Note in the form of a Definitive Note delivered in exchange for an interest
in the Global Note shall, except as otherwise provided by <U>Section&nbsp;2.3(e)</U> of this <U>Appendix&nbsp;A</U>, bear the Restricted
Notes Legend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
registered Holder of a Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may
hold interests through Agent Members, to take any action which a Holder is entitled to take under the Indenture or the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of the occurrence of any of the events specified in <U>Section&nbsp;2.4(a)(i)</U>, <U>(ii)</U> or <U>(iii)</U> of this <U>Appendix&nbsp;A</U>,
the Company shall promptly make available to the Trustee a reasonable supply of Definitive Notes in fully registered form without interest
coupons.</P>

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

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

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

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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">[FORM OF FACE OF NOTE]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">[Insert the Restricted
Notes Legend, if applicable, pursuant to the provisions of the Indenture]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">[Insert the Global Notes
Legend, if applicable, pursuant to the provisions of the Indenture]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">[Insert the Definitive
Notes Legend, if applicable, pursuant to the provisions of the Indenture]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">[Insert the Canadian Restricted
Legend, if applicable, pursuant to the provisions of the Indenture]</P>

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

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

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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-align: right">ISIN [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]<SUP>1</SUP></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center">[RULE 144A][REGULATION S][IAI][GLOBAL] NOTE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center">6.50% Senior Notes due 2030</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 25%">No. [A-__] [S-__] [I-__]</TD>
    <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 25%">[Up to]<SUP>2</SUP> [$______________]</TD></TR>
</TABLE>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">promises to pay to [CEDE &amp; CO.]<SUP>3</SUP>
[_______________] or registered assigns the principal sum [$_______ (_______ Dollars), as revised by the Schedule of Exchanges of Interests
in the Global Note attached hereto]<SUP>4</SUP> [of $_______ (_______ Dollars)]<SUP>5</SUP> on February 15, 2030.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Interest Payment Dates: February 15 and August
15, commencing August 15, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Record Dates: February 1 and August 1</P>

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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










<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>1</SUP></TD><TD>Rule 144A Note CUSIP: 296006 AA7</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt 0.25in; text-indent: 0in">Rule 144A Note ISIN: US296006AA71</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt 0.25in; text-indent: 0in">Regulation S Note CUSIP: C3328L AA7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt 0.25in; text-indent: 0in">Regulation S Note ISIN: USC3328LAA73</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt 0.25in; text-indent: 0in">IAI Note CUSIP: 296006 AB5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt 0.25in; text-indent: 0in">IAI Note ISIN: US296006AB54</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>2</SUP></TD><TD>Include in Global Notes.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>3</SUP></TD><TD>Include in Global Notes</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>4</SUP></TD><TD>Include in Global Notes</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>5</SUP></TD><TD>Include in Definitive Notes</TD></TR></TABLE>




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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">IN WITNESS HEREOF, the Company has caused this instrument to be duly executed.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="3">ERO COPPER CORP.</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 30%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in">Dated: [_______________] [__], [__]</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">CERTIFICATE OF AUTHENTICATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in">This is one of the Notes referred to in the within-mentioned Indenture:</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="3">COMPUTERSHARE TRUST COMPANY, N.A.<FONT STYLE="text-transform: uppercase">, </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as
  Trustee,</FONT></TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 30%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">Authorized Signatory</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <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: 0 0 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0 3in"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dated: [_______________] [__], [__]</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">[Reverse Side of Note]<BR>
<BR>
6.50% Senior Notes due 2030</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Capitalized terms used herein
shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INTEREST.
Ero Copper Corp., a corporation existing under the laws of British Columbia (the &ldquo;<U>Company</U>&rdquo;), promises to pay interest
on the principal amount of this Note at 6.50% per annum from and including February 2, 2022 until but excluding maturity. The Company
shall pay interest semi-annually in arrears on February 15 and August 15 of each year, or if any such day is not a Business Day, on the
next succeeding Business Day (each, an &ldquo;<U>Interest Payment Date</U>&rdquo;). Interest on the Notes shall accrue from the most recent
date to which interest has been paid or, if no interest has been paid, from and including the date of original issuance; <U>provided</U>
that the first Interest Payment Date shall be August 15, 2022. The Company shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the interest rate on the
Notes; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest (without regard to any applicable grace periods) from time to time on demand at the interest rate on the Notes. Interest shall
be computed on the basis of a 360-day year comprised of 12 30-day months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;METHOD
OF PAYMENT. The Company shall pay interest on the Notes to the Persons who are registered holders of Notes at the close of business on
the February 1 or August 1 (whether or not a Business Day), as the case may be, immediately preceding the related Interest Payment Date,
even if such Notes are canceled after such Record Date and on or before such Interest Payment Date, except as provided in Section 2.12
of the Indenture with respect to defaulted interest. Principal, premium, if any, and interest on the Notes shall be payable at the office
or agency of the Company maintained for such purpose; <U>provided</U> that payment by wire transfer of immediately available funds shall
be required with respect to principal, premium, if any, and interest on all Global Notes and all other Notes the Holders of which shall
have provided wire transfer instructions to the Company or the Paying Agent at least five Business Days prior to the applicable payment
date. Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment
of public and private debts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PAYING
AGENT AND REGISTRAR. Initially, Computershare Trust Company, N.A., the Trustee under the Indenture, shall act as Paying Agent and Registrar.
The Company may change any Paying Agent or Registrar without notice to the Holders. The Company or any Wholly-Owned Subsidiary incorporated
or organized within the United States of America may act as Paying Agent (except for purposes of Article&nbsp;8 of the Indenture) or Registrar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INDENTURE.
The Company issued the Notes under an Indenture, dated as of February 2, 2022 (the &ldquo;<U>Indenture</U>&rdquo;), among Ero Copper Corp.,
the Guarantors named therein and the Trustee. This Note is one of a duly authorized issue of notes of the Company designated as its 6.50%
Senior Notes due 2030. The Company shall be entitled to issue Additional Notes pursuant to Section 2.01 and 4.09 of the Indenture. The
Notes and any Additional Notes issued under the Indenture shall be treated as a single class of securities under the Indenture. The terms</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">of the Notes include those stated in the Indenture (which for greater certainty includes the right of exchange of the Notes provided in
Appendix A to the Indenture, which is an express term of this Note). The Notes are subject to all such terms, and Holders are referred
to the Indenture for a statement of such terms. Any term used in this Note that is defined in the Indenture shall have the meaning assigned
to it in the Indenture. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions
of the Indenture shall govern and be controlling.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REDEMPTION
AND REPURCHASE. The Notes are subject to optional redemption, and may be the subject of an Offer to Purchase, as further described in
the Indenture. The Company shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DENOMINATIONS,
TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee
may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and Holders shall be required to
pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note
or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PERSONS
DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMENDMENT,
SUPPLEMENT AND WAIVER. The Indenture, the Note Guarantees or the Notes may be amended or supplemented as provided in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DEFAULTS
AND REMEDIES. The Events of Default relating to the Notes are defined in Section 6.01 of the Indenture. Upon the occurrence of an Event
of Default, the rights and obligations of the Company, the Guarantors, the Trustee and the Holders shall be as set forth in the applicable
provisions of the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AUTHENTICATION.
This Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose until authenticated by the
manual signature of the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING
LAW. THIS NOTE WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CUSIP
AND ISIN NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company
has caused CUSIP and ISIN numbers to be printed on the Notes, and the Trustee may use CUSIP and ISIN numbers in notices of redemption
as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained
in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">The Company shall furnish
to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to the Company at the following address:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in">Ero Copper Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in">Suite 1050 &ndash; 625 Howe Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in">Vancouver, B.C. V6C 2T6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in">Fax: [Redacted &ndash; personal information]</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in">Attention: Wayne Drier</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: left; text-indent: 1in">Email: [Redacted &ndash;
personal information]</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">ASSIGNMENT FORM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">To assign this Note, fill
in the form below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(I) or (we) assign and transfer this Note to:</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Insert assignee&rsquo;s legal name)</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Insert assignee&rsquo;s soc. sec. or tax I.D. no.)</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">(Print or type assignee&rsquo;s name,
address and zip code)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">and irrevocably appoint ______________________________________________________________________&nbsp;to
transfer this Note on the books of the Company. The agent may substitute another to act for him.</P>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%">Your Signature:</TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 30%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TD>(Sign exactly as your name appears
on the face of this Note)</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 297.35pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Signature Guarantee*: __________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">* Participant in a recognized Signature Guarantee
Medallion Program (or other signature guarantor acceptable to the Trustee).</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR<BR>
REGISTRATION OF TRANSFER RESTRICTED NOTES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This certificate relates to $_________ principal
amount of Notes held in (check applicable space) ____ book-entry or _____ definitive form by the undersigned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The undersigned (check one box below):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify">has requested the Trustee by written order to deliver in exchange for its beneficial interest in the Global
Note held by the Depositary a Note or Notes in definitive, registered form of authorized denominations and an aggregate principal amount
equal to its beneficial interest in such Global Note (or the portion thereof indicated above) in accordance with the Indenture; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify">has requested the Trustee by written order to exchange or register the transfer of a Note or Notes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In connection with any transfer of any of the
Notes evidenced by this certificate occurring prior to the expiration of the applicable holding period referred to in Rule 144 under the
Securities Act, the undersigned confirms that such Notes are being transferred in accordance with its terms:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">CHECK ONE BOX BELOW</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(1)</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify; width: 85%">to the Company; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(2)</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify; width: 85%">to the Registrar for registration in the name of the Holder, without transfer; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(3)</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify; width: 85%">pursuant to an effective registration statement under the Securities Act of 1933; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(4)</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify; width: 85%">to a Person that the undersigned reasonably believes is a &ldquo;qualified institutional buyer&rdquo;
(as defined in Rule 144A under the Securities Act of 1993, as amended, (&ldquo;Rule 144A&rdquo;) under the Securities Act of 1933) that
purchases for its own account or for the account of a qualified institutional buyer and to whom notice is given that such transfer is
being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(5)</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify; width: 85%">outside the United States of America in an offshore transaction within the meaning of Regulation
S under the Securities Act of 1933 in compliance with Rule 904 under the Securities Act of 1933 (and if the transfer is being made prior
to the expiration of the Distribution Compliance Period, the Notes shall be held immediately thereafter through Euroclear or Clearstream);
or</TD></TR></TABLE>

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

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

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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(6)</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify; width: 85%">to an institutional &ldquo;accredited investor&rdquo; (as defined in Rule 501(a)(1), (2), (3) or
(7) under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing certain representations and agreements;
or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(7)</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify; width: 85%">pursuant to Rule 144 under the Securities Act of 1933 or another available exemption from registration
under the Securities Act of 1933.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify">Unless one of the boxes is checked, the
Trustee will refuse to register any of the Notes evidenced by this certificate in the name of any Person other than the registered Holder
thereof; <U>provided</U>, <U>however</U>, that if box (5), (6) or (7) is checked, the Company or the Trustee may require, prior to registering
any such transfer of the Notes, such legal opinions, certifications and other information as the Company has reasonably requested to confirm
that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the
Securities Act of 1933.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%"></TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 30%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TD>Your Signature</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-align: left">&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 COLSPAN="2">Signature Guarantee:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 5%">Date:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; width: 45%"> <U></U></TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 30%"></TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">Signature must be guaranteed<BR> by a participant in a<BR> recognized signature guaranty<BR> medallion program or other<BR> signature guarantor acceptable<BR> to the Trustee</TD>
    <TD>&nbsp;</TD>
    <TD>Signature of Signature<BR>
Guarantor</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center">TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">The undersigned represents
and warrants that it is purchasing this Note for its own account or an account with respect to which it exercises sole investment discretion
and that it and any such account is a &ldquo;qualified institutional buyer&rdquo; within the meaning of Rule 144A, and is aware that the
sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the
undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor
is relying upon the undersigned&rsquo;s foregoing representations in order to claim the exemption from registration provided by Rule 144A.</P>

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

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

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


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


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 5%">Dated:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; width: 40%"> <U></U></TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 30%"></TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">Signature must be guaranteed<BR> by a participant in a<BR> recognized signature guaranty<BR> medallion program or other<BR> signature guarantor acceptable<BR> to the Trustee</TD>
    <TD>&nbsp;</TD>
    <TD>NOTICE:</TD>
    <TD>To be executed by<BR>
an executive officer</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR></TABLE>


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

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

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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">TO BE COMPLETED IF THE HOLDER REQUIRES AN EXCHANGE<BR>
PURSUANT TO SECTION 2.3(d)(iii) OF APPENDIX A TO THE INDENTURE<SUP>6</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The undersigned represents and warrants that
either:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify">the undersigned is not a dealer (as defined in the Securities Act) and is a non-U.S. person (within the
meaning of Regulation S under the Securities Act of 1933); or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify">the undersigned is not a dealer (as defined in the Securities Act) and is a U.S. person (within the meaning
of Regulation S under the Securities Act of 1933) who purchased interests in the Notes pursuant to an exemption from, or in a transaction
not subject to, the registration requirements under the Securities Act of 1933; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="text-align: justify">the undersigned is a dealer (as defined in the Securities Act) and the interest of the undersigned in
this Note does not constitute the whole or a part of an unsold allotment to or subscription by such dealer for the Notes.</TD></TR></TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 5%">Dated:</TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 25%">&nbsp;</TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 30%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TD>Signature</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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

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

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>6</SUP></TD><TD>Include only for Regulation
S Global Notes.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">OPTION OF HOLDER TO ELECT PURCHASE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">If you want to elect to have
this Note purchased by the Company pursuant to Section 4.10 or 4.14 of the Indenture, check the appropriate box below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[&nbsp;&nbsp;&nbsp;] Section 4.10&#9;&#9;[&nbsp;&nbsp;&nbsp;] Section 4.14</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">(Asset Disposition Offer)&#9;&#9;(Change of Control
Offer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">If you want to elect to have
only part of this Note purchased by the Company pursuant to Section 4.10 or Section 4.14 of the Indenture, state the amount you elect
to have purchased:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 180pt"></TD><TD STYLE="width: 94.3pt">$_______________</TD><TD>(integral multiples of $1,000,<BR>
<U>provided</U> that the unpurchased<BR>
portion must be in a minimum<BR>
principal amount of $2,000)</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%">Your Signature</TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 30%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TD>(Sign exactly as your name appears
on the face of this Note)</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
    <TD>Tax Identification No.:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Signature Guarantee*: __________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">* Participant in a recognized Signature Guarantee Medallion Program (or
other signature guarantor acceptable to the Trustee).</P>

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

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

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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL
NOTE*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The initial outstanding principal
amount of this Global Note is $__________. The following exchanges of a part of this Global Note for an interest in another Global Note
or for a Definitive Note, or exchanges of a part of another Global or Definitive Note for an interest in this Global Note, have been made:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 19%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">Date of Exchange</P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 19%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">Amount of decrease<BR>
    in Principal Amount</P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 20%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">Amount of increase<BR>
    in Principal<BR>
    Amount of this<BR>
    Global Note</P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 19%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">Principal Amount
    of<BR>
    this Global Note<BR>
    following such<BR>
    decrease or increase</P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 19%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">Signature of authorized
    signatory of Trustee or Custodian</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <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>
  <TR STYLE="vertical-align: top">
    <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>
  <TR STYLE="vertical-align: top">
    <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>
  <TR STYLE="vertical-align: top">
    <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>
  <TR STYLE="vertical-align: top">
    <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>
  <TR STYLE="vertical-align: top">
    <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>
  <TR STYLE="vertical-align: top">
    <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: 0 0 0pt 0in; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0in; text-indent: 0in">*This schedule should be included only
if the Note is issued in global form.</P>

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

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

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

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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">FORM OF<BR>
TRANSFEREE LETTER OF REPRESENTATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Ero Copper Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Suite 1050 &ndash; 625 Howe Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Vancouver, B.C. V6C 2T6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fax: [Redacted &ndash; personal information]</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-align: justify">Email: [Redacted &ndash; personal information]</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Computershare Trust Company, N.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">[8742 Lucent Boulevard, Suite 225</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Highlands Ranch, Colorado 80129</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Attention: Robert H. Major</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-align: justify">Fax: [Redacted &ndash; personal
information]]</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This certificate is delivered
to request a transfer of $[&nbsp;&nbsp;&nbsp;] principal amount of the 6.50% Senior Notes due 2030 (the &ldquo;<U>Notes</U>&rdquo;) of Ero Copper Corp.
(the &ldquo;<U>Company</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Upon transfer, the Notes
would be registered in the name of the new beneficial owner as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Name:________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Address:______________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Taxpayer ID Number:____________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned represents
and warrants to you that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are an institutional &ldquo;accredited investor&rdquo; (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933,
as amended (the &ldquo;<U>Securities Act</U>&rdquo;)), purchasing for our own account or for the account of such an institutional &ldquo;accredited
investor&rdquo; at least $250,000 principal amount of the Notes, and we are acquiring the Notes, for investment purposes and not with
a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience
in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Notes, and we invest in
or purchase securities similar to the Notes in the normal course of our business. We, and any accounts for which we are acting, are each
able to bear the economic risk of our or its investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
understand that the Notes have not been registered under the Securities Act and, unless so registered, may not be sold except as permitted
in the following sentence. We agree on</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">our own behalf and on behalf of any investor account for which we are purchasing Notes to offer,
sell or otherwise transfer such Notes before (x) in the case of Rule 144A Notes (as defined in the indenture governing the Notes), the
date that is one year (or such shorter period of time as permitted by Rule 144 under the Securities Act or any successor provision thereunder)
after the later of the date of original issue of the notes, the date of original issue of any additional notes and the last date on which
the Company or any affiliate of the Company was the owner of such Notes (or any predecessor thereto) and (y) in the case of Regulation
S Notes (as defined in the indenture governing the Notes), the expiration of the &ldquo;40-day distribution compliance period&rdquo; within
the meaning of Rule 903 of Regulation S (the &ldquo;<U>Resale Restriction Termination Date</U>&rdquo;) only (a) to the Company, (b) pursuant
to a registration statement that has been declared effective under the Securities Act, (c) in a transaction complying with the requirements
of Rule 144A under the Securities Act (&ldquo;<U>Rule 144A</U>&rdquo;), to a person we reasonably believe is a qualified institutional
buyer under Rule 144A (a &ldquo;<U>QIB</U>&rdquo;) that is purchasing for its own account or for the account of a QIB and to whom notice
is given that the transfer is being made in reliance on Rule 144A, (d) pursuant to offers and sales that occur outside the United States
of America within the meaning of Regulation S under the Securities Act, (e) to an institutional &ldquo;accredited investor&rdquo; within
the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act that is purchasing for its own account or for the account of such
an institutional &ldquo;accredited investor,&rdquo; in each case in a minimum principal amount of Notes of $250,000, for investment purposes
and not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act or (f) pursuant to
any other available exemption from the registration requirements of the Securities Act, subject in each of the foregoing cases to compliance
with any applicable state securities laws. The foregoing restrictions on resale will not apply after the Resale Restriction Termination
Date. If any resale or other transfer of the Notes is proposed to be made pursuant to clause&nbsp;(e) above before the Resale Restriction
Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to the Company and
the Trustee, which shall provide, among other things, that the transferee is an institutional &ldquo;accredited investor&rdquo; within
the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring such Notes for investment purposes and
not for distribution in violation of the Securities Act. Each purchaser acknowledges that the Company and the Trustee reserve the right
prior to the offer, sale or other transfer before the Resale Restriction Termination Date of the Notes pursuant to clause&nbsp;(d), (e)
or (f) above to require the delivery of an opinion of counsel, certifications or other information satisfactory to the Company and the
Trustee.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 52%">&nbsp;</TD>
  <TD STYLE="width: 8%">TRANSFEREE:</TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 30%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>by:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center">FORM OF SUPPLEMENTAL INDENTURE<BR>
TO BE DELIVERED BY SUBSEQUENT GUARANTORS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Supplemental Indenture (this
&ldquo;<U>Supplemental Indenture</U>&rdquo;), dated as of [__________] [__], 20[__], among __________________ (the &ldquo;<U>Guaranteeing
Subsidiary</U>&rdquo;), a subsidiary of Ero Copper Corp., a British Columbia corporation (the &ldquo;<U>Company</U>&rdquo;), and Computershare
Trust Company, N.A., a national association, as trustee (the &ldquo;<U>Trustee</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">W I T N E S S E T H</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">WHEREAS, each of the Company
and the Guarantors (as defined in the Indenture referred to below) has heretofore executed and delivered to the Trustee an indenture (the
&ldquo;<U>Indenture</U>&rdquo;), dated as of February 2, 2022, providing for the issuance of an unlimited aggregate principal amount of
6.50% Senior Notes due 2030 (the &ldquo;<U>Notes</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">WHEREAS, the Indenture provides
that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant
to which the Guaranteeing Subsidiary shall unconditionally Guarantee all of the Company&rsquo;s Obligations under the Notes and the Indenture
on the terms and conditions set forth herein and under the Indenture; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">WHEREAS, pursuant to Section
9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">NOW THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties mutually covenant
and agree for the equal and ratable benefit of the Holders as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Capitalized
Terms</U>. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Guarantor</U>.
The Guaranteeing Subsidiary hereby agrees to be a Guarantor under the Indenture and to be bound by the terms of the Indenture applicable
to Guarantors, including Article 10 thereof. [The Guaranteeing Subsidiary hereby waives any benefit afforded to it under the laws of Brazil,
including those provided for in Articles 333, sole paragraph, 366, 827, 834, 835, 837, 838 and 839 of the Brazilian Civil Code (Law No.
10,406/2002) and Articles 130 and 794 of the Brazilian Code of Civil Procedure (Law No. 13,105/2015).]<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(1)</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver
of Jury Trial</U>. EACH OF THE GUARANTEEING SUBSIDIARY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in"><SUP>(1)</SUP> NTD: To be included
if the Guaranteeing Subsidiary is incorporated under the laws of Brazil.</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE, THE INDENTURE,
THE NOTES, THE NOTE GUARANTEES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>.
The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together
represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or .pdf transmission
shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the
original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or .pdf shall be deemed to be their original
signatures for all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.
The headings of the Sections of this Supplemental Indenture have been inserted for convenience of reference only, are not to be considered
a part of this Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<U>Notarization,
Translation and Registration</U>. (a) The parties executing this Supplemental Indenture agree to (i) in case of execution hereof takes
place outside the Brazilian territory, have their signatures notarized and apostilled (or legalized at a competent Brazilian Consulate,
as applicable) and (ii) in case of execution hereof in the Brazilian territory, have their signatures notarized in accordance with Brazilian
law (<I>reconhecimento de firma</I>), in both cases within sixty (60) days as from the date hereof; and (b) the Guaranteeing Subsidiary
shall, at its sole cost and expense, arrange for the registration of this Supplemental Indenture, together with a sworn translation (tradu&ccedil;&atilde;o
juramentada) of it into Portuguese language, with the competent Registry of Deeds and Documents (<I>Cart&oacute;rio de Registro de T&iacute;tulos
e Documentos</I>) within sixty (60) days as from the date hereof.]<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(2)</SUP></FONT></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(2)</SUP></FONT>
NTD: To be included if the Guaranteeing Subsidiary is incorporated under the laws of Brazil.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, the parties
hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above written.</P>


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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="3">[NAME OF GUARANTEEING SUBSIDIARY]</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 30%">&nbsp;</TD>
  <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="3">COMPUTERSHARE TRUST COMPANY, N.A.<FONT STYLE="font-size: 10pt; text-transform: uppercase">, <FONT STYLE="font-family: Times New Roman, Times, Serif">as
  Trustee</FONT></FONT></TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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


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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2">[Witnesses:</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 30%">&nbsp;</TD>
  <TD STYLE="width: 65%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>1.</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Name:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>ID:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>CPF/MF: </TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 5%">2.</TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 30%">&nbsp;</TD>
  <TD STYLE="width: 65%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Name:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>ID:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>CPF/MF:]<SUP>(3)</SUP></TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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


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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(3)
</SUP></FONT>NTD: To be included if the Guaranteeing
Subsidiary is incorporated under the laws of Brazil.</P>

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

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

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

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

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

</DIV>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>eh220231297_ex9902.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>

<HTML>
<HEAD>
<TITLE>Proof - Seventh Agr.htm</TITLE>
</HEAD>
<BODY>
<DIV>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: right">EXHIBIT 99.2</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: right">Execution Version</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">SEVENTH AMENDING AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in"><B>THIS AGREEMENT</B> is
made as of January 21, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>AMONG:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>ERO COPPER CORP.<BR>
</B>as Borrower</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">- and -</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>THE BANK OF NOVA SCOTIA<BR>
</B>as Administrative Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">- and -</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>THE BANK OF NOVA SCOTIA and BANK OF MONTREAL<BR>
</B>as Lenders</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>BACKGROUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in"><B>WHEREAS</B> pursuant to
an amended and restated credit agreement made as of December 13, 2018 (as amended by a first amending agreement dated as of January 21,
2019, a second amending agreement dated as of March 12, 2019, a third amending agreement dated as of June 26, 2019, a fourth amending
agreement dated as of March 31, 2020, a fifth amending agreement dated May 29, 2020, and a sixth amending agreement dated March 16, 2021,
the &#8220;<B>Credit Agreement</B>&#8221;) among the parties hereto, the Lenders agreed to make certain credit facilities available to
the Borrower for the purposes set forth therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in"><B>AND WHEREAS</B> the Borrower,
the Administrative Agent and the Lenders have agreed to amend the Credit Agreement for the purposes and on the terms and conditions set
out in this seventh amending agreement (this &#8220;<B>Agreement</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in"><B>NOW THEREFORE</B> in consideration
of the mutual obligations contained herein and for other consideration, the receipt and sufficiency of which are acknowledged, the parties
agree as follows:</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article&nbsp;1<BR>
INTERPRETATION</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: left">1.1</TD><TD STYLE="text-align: justify">Definitions</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">Words and expressions defined
or given extended meanings in the Credit Agreement are used with the same respective defined or extended meanings in this Agreement. Unless
otherwise noted, references to Sections relate to Sections of the Credit Agreement.</P>


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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: left">1.2</TD><TD STYLE="text-align: justify">Reference to Agreements</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">Each reference in this Agreement
to any agreement (including this Agreement and any other defined term that is an agreement) shall be construed so as to include such
agreement (including any attached schedules, appendices and exhibits) and each change thereto made at or before the time in question.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">1.3</TD>
    <TD STYLE="text-align: justify">Headings, etc.</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">The division of this Agreement
into Articles, Sections and Subsections and the insertion of headings are for the convenience of reference only and shall not affect
the construction or interpretation of this Agreement. The terms &#8220;<B>this seventh amending agreement</B>&#8221;, &#8220;<B>this
Agreement</B>&#8221;, &#8220;<B>hereof</B>&#8221;, &#8220;<B>hereunder</B>&#8221; and similar expressions refer to this Agreement and
not to any particular Article, Section, Subsection, paragraph, subparagraph, clause or other portion of this Agreement.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">1.4</TD>
    <TD STYLE="text-align: justify">Grammatical Variations</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">In this Agreement, unless
the context otherwise requires, (i) words and expressions (including words and expressions (capitalized or not), which are defined, given
extended meanings or incorporated by reference herein) in the singular include the plural and <I>vice versa</I> (the necessary changes
being made to fit the context), (ii) words in one gender include all genders and (iii) grammatical variations of words and expressions
(capitalized or not) which are defined, given extended meanings or incorporated by reference in this Agreement shall be construed in like
manner.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article&nbsp;2<BR>
AMENDMENTS</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">2.1</TD>
    <TD STYLE="text-align: justify">Amendments</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">Subject to Section&nbsp;3.1
of this Agreement, the Credit Agreement is hereby amended as follows:&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">2.1.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Defined Terms</B>. Section 1.1 of the Credit Agreement is hereby amended as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>Available Tenor</B>&#8221; in its entirety and replacing it with
the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;&#8220;<B>Available
Tenor</B>&#8221; means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (x) if the then-current
Benchmark is a term rate, any tenor for such Benchmark that is or may be used for determining the length of an Interest Period or (y)
otherwise, any payment period for interest calculated with reference to such Benchmark, as applicable, pursuant to this agreement as of
such date.&#8221;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>Benchmark</B>&#8221; in its entirety and replacing it with the
following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;&#8220;<B>Benchmark</B>&#8221;
means, initially, LIBOR; provided that if a replacement of the Benchmark has occurred pursuant to Section 3.11, then &#8220;Benchmark&#8221;
means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate. Any reference
to &#8220;Benchmark&#8221; shall include, as applicable, the published component used in the calculation thereof.&#8221;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>Benchmark Replacement</B>&#8221; in its entirety and replacing
it with the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;&#8220;<B>Benchmark
Replacement</B>&#8221; means, for any Available Tenor:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of clause (a) of Section 3.11, the first alternative set forth below that can be determined by the Administrative Agent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1.25in; text-align: justify; text-indent: 0in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sum of: (i) Term SOFR and (ii) 0.11448% (11.448 basis points) for an Available Tenor of one-month&#8217;s duration, 0.26161% (26.161 basis
points) for an Available Tenor of three-months&#8217; duration, and 0.42826% (42.826 basis points) for an Available Tenor of six-months&#8217;
duration, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1.25in; text-align: justify; text-indent: 0in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
sum of: (i) Daily Simple SOFR and (ii) the spread adjustment selected or recommended by the Relevant Governmental Body for the replacement
of the tenor of LIBOR with a SOFR-based rate having approximately the same length as the interest payment period specified in clause (a)
of this Section; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of clause (b) of Section 3.11, the sum of (a) the alternate benchmark rate and (b) an adjustment (which may be a positive or
negative value or zero), in each case, that has been selected by the Administrative Agent and the Borrower as the replacement for such
Available Tenor of such Benchmark giving due consideration to any evolving or then-prevailing market convention, including any applicable
recommendations made by the Relevant Governmental Body, for U.S. dollar-denominated syndicated credit facilities at such time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">provided that, if the
Benchmark Replacement as determined pursuant to clause (1) or (2) above would be less than zero, the Benchmark Replacement will be deemed
to be zero for the purposes of this agreement and the other Credit Documents.&#8221;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>Benchmark Replacement Adjustment</B>&#8221; in its entirety;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>Benchmark Replacement Conforming Changes</B>&#8221; in its entirety
and replacing it with the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;&#8220;<B>Benchmark
Replacement Conforming Changes</B>&#8221; means, with respect to any Benchmark Replacement, any technical, administrative or operational
changes</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify">(including changes to the definition of
&#8220;Base Rate Canada&#8221;, the definition of &#8220;Banking Day,&#8221; the definition of &#8220;Interest Period,&#8221; timing and
frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation
notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative
or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark
Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice
(or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the
Administrative Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner
of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement
and the other Credit Documents).&#8221;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>Benchmark Replacement Date</B>&#8221; in its entirety;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>Benchmark Transition Event</B>&#8221; in its entirety and replacing
it with the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;&#8220;<B>Benchmark
Transition Event</B>&#8221; means, with respect to any then-current Benchmark other than LIBOR, the occurrence of a public statement or
publication of information by or on behalf of the administrator of the then-current Benchmark, the regulatory supervisor for the administrator
of such Benchmark, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, an insolvency official
with jurisdiction over the administrator for such Benchmark, a resolution authority with jurisdiction over the administrator for such
Benchmark or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark, announcing
or stating that (a) such administrator has ceased or will cease on a specified date to provide all Available Tenors of such Benchmark,
permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will
continue to provide any Available Tenor of such Benchmark or (b) all Available Tenors of such Benchmark are or will no longer be representative
of the underlying market and economic reality that such Benchmark is intended to measure and that representativeness will not be restored.&#8221;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">by deleting the definitions of &#8220;<B>Benchmark Unavailability Period</B>&#8221; and &#8220;<B>Corresponding
Tenor</B>&#8221; in their entirety;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">by adding &#8220;as increased from time to time pursuant to Section 2.6 and&#8221; immediately prior to
the reference in the definition of &#8220;<B>Individual Commitment</B>&#8221; to &#8220;as reduced from time to time pursuant to, as applicable,
Sections 2.3, 8.3 and 15.5&#8221;;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>ISDA Definitions</B>&#8221; in its entirety;</TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">by amending the definition of &#8220;<B>Permitted Indebtedness</B>&#8221; as follows:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">by deleting the reference to &#8220;$20,000,000&#8221; in paragraph (b) and replacing such reference with
&#8220;$50,000,000&#8221;; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">by deleting the reference to &#8220;[<B>Intentionally deleted</B>.]&#8221; in paragraph (f) and replacing
such reference with &#8220;HY Indebtedness in the maximum aggregate principal amount of $450,000,000&#8221;;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>Reference Time</B>&#8221; in its entirety;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>RT Credit Limit</B>&#8221; in its entirety and replacing it with
the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;&#8220;<B>RT Credit
Limit</B>&#8221; means (i) prior to the HY Effective Date, $150,000,000 and (ii) on and following the HY Effective Date, $75,000,000 which
amount may be increased pursuant to Section 2.6 and, in each case, as such amounts may be reduced from time to time pursuant to Section
2.3.&#8221;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>SOFR</B>&#8221; in its entirety and replacing it with the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;&#8220;<B>SOFR</B>&#8221;
means a rate per annum equal to the secured overnight financing rate for such Banking Day published by the Federal Reserve Bank of New
York (or a successor administrator of the secured overnight financing rate) on the website of the Federal Reserve Bank of New York, currently
at http://www.newyorkfed.org (or any successor source for the secured overnight financing rate identified as such by the administrator
of the secured overnight financing rate from time to time).&#8221;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">by deleting the definitions of &#8220;<B>SOFR Administrator</B>&#8221; and &#8220;<B>SOFR Administrator&#8217;s
Website</B>&#8221; in their entirety;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>Term SOFR</B>&#8221; in its entirety and replacing it with the
following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;&#8220;<B>Term
SOFR</B>&#8221; means, for the applicable corresponding tenor, the forward-looking term rate based on SOFR that has been selected or recommended
by the Relevant Governmental Body.&#8221;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(q)</TD><TD STYLE="text-align: justify">by deleting the definition of &#8220;<B>Unadjusted Benchmark Replacement</B>&#8221; in its entirety;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(r)</TD><TD STYLE="text-align: justify">by adding the following new definition in alphabetical order:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;&#8220;<B>Accordion
Confirmation</B>&#8221; shall have the meaning ascribed thereto in Section 2.6(b).</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;<B>Accordion Effective
Date</B>&#8221; means in respect of the Accordion Increase requested by the Borrower in the Accordion Notice pursuant to Section 2.6,
the date on which an Accordion Confirmation has been duly executed and delivered by the applicable Accordion Lender(s), the Administrative
Agent and the Borrower and received by the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;<B>Accordion Increase</B>&#8221;
shall have the meaning ascribed thereto in Section 2.6(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;<B>Accordion Lender</B>&#8221;
shall have the meaning ascribed thereto in Section 2.6(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;<B>Accordion Notice</B>&#8221;
shall have the meaning ascribed thereto in Subsection 2.6(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;<B>Early Opt-in
Effective Date</B>&#8221; means, with respect to any Early Opt-in Election, the sixth (6<SUP>th</SUP>) Banking Day after the date notice
of such Early Opt-in Election is provided to the Lenders, so long as the Administrative Agent has not received, by 5:00 p.m. (Toronto
time) on the fifth (5<SUP>th</SUP>) Banking Day after the date notice of such Early Opt-in Election is provided to the Lenders, written
notice of objection to such Early Opt-in Election from Lenders comprising the Majority Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;<B>HY Effective
Date</B>&#8221; means the date on which the HY Indenture is entered into and the Notes are issued thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;<B>HY Indebtedness</B>&#8221;
means Indebtedness owing under and pursuant to the HY Indenture and the Notes issued thereunder, provided that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">such Indebtedness, at the time of incurrence, matures at least twelve months after the RT Maturity Date;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the instruments evidencing such Indebtedness (including the HY Indenture and Notes) contain no covenants
(including for certainty, financial covenants) and events of default which are more onerous in any material respect than the covenants
(including for certainty, financial covenants) and events of default contained in Article 11 and Article 13 of this agreement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">such Indebtedness is at all times unsecured; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">contemporaneously with the incurrence of such Indebtedness, the Borrower has provided to the Administrative
Agent a certified true, correct and complete copy of the HY Indenture and any guarantees therefor.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;<B>HY Indenture</B>&#8221;
means the trust indenture dated as of the HY Effective Date. among, inter alios, the Borrower, as issuer, Minera&ccedil;&atilde;o Cara&iacute;ba
S.A. as guarantor, and Computershare Trust Company, N.A. as trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;<B>Individual
Accordion Commitment</B>&#8221; shall have the meaning ascribed thereto in Section 2.6(a).&#8221;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;<B>Notes</B>&#8221;
shall have the meaning ascribed thereto under the HY Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&#8220;<B>SOFR-Based
Rate</B>&#8221; means SOFR or Term SOFR.&#8221;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">2.1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Accordion Feature</B>. Article 2 of the Credit Agreement is hereby amended by adding the following new Section 2.6 immediately after
existing Section 2.5:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-weight: normal">&#8220;</FONT>2.6</TD>
    <TD STYLE="text-align: justify">Accordion
Feature.</TD></TR>
  </TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0 1in; text-align: left; text-indent: -58.5pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Borrower may, at any time following the HY Effective Date, give notice in writing to the Administrative
Agent as provided in this Section 2.6 (the &#8220;<B>Accordion Notice</B>&#8221;), requesting that the RT Credit Limit be increased on
a one-time basis by an amount of up to $25,000,000 pursuant to such Accordion Notice (such increase, the &#8220;<B>Accordion Increase</B>&#8221;).
The Accordion Notice shall specify, in respect of the proposed Accordion Increase: (i)&nbsp;the aggregate amount of the proposed Accordion
Increase in respect of the RT Facility (which shall be in compliance with the first sentence of this Section 2.6(a)), (ii)&nbsp;each existing
Lender being requested by the Borrower to increase its Individual Commitment in respect of the RT Facility in the aggregate amount of
the requested Accordion Increase (each, an &#8220;<B>Accordion Lender</B>&#8221; and, collectively, the &#8220;<B>Accordion Lenders</B>&#8221;)
and (iii)&nbsp;each such Accordion Lender&#8217;s proposed commitment in respect of the requested Accordion Increase (each, an &#8220;<B>Individual
Accordion Commitment</B>&#8221;). For certainty, no Lender shall in any way be obligated to be an Accordion Lender or participate in the
Accordion Increase. The Accordion Notice shall be accompanied by evidence, satisfactory to the Administrative Agent that the Borrower
is in compliance with the financial covenants contained in Sections&nbsp;11.1(m), (n), (o) and (p) on a <I>pro forma</I> basis after giving
effect to the proposed Accordion Increase.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Promptly following receipt of the Accordion Notice pursuant to Section 2.6(a), the Administrative Agent
shall deliver a copy of same to each Accordion Lender specified therein. Upon receipt of the Accordion Notice from the Administrative
Agent pursuant to this Section 2.6(b), each Accordion Lender specified in the Accordion Notice shall execute and deliver to the Administrative
Agent a confirmation letter (an &#8220;<B>Accordion Confirmation</B>&#8221;) confirming that it has agreed to increase its Individual
Commitment with respect to the RT Facility in an amount equal to its Individual Accordion Commitment. The increase in such Accordion Lender&#8217;s
Individual Commitment with respect to the RT Facility and the corresponding increase in the RT Credit Limit shall, subject to Section
2.6(d), become effective on the Accordion Effective Date. Effective as of the Accordion Effective Date: (i) Schedule A hereto shall be
automatically amended to increase the Individual Commitment of such Accordion Lender with respect to the RT Facility by the amount of
its Individual Accordion Commitment, and (ii) any reference to &#8220;RT Credit Limit&#8221; shall be interpreted and construed as a reference
to the RT Credit Limit as increased by the amount of the Accordion Increase. Such amendments shall be binding upon the Borrower, the Administrative
Agent</TD></TR></TABLE>


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<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0 80.65pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">and all Lenders without the requirement
for any further documentation, consents or other action by or on behalf of such Persons.</TD></TR>
                                                                                                                                         <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                         <TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The Administrative Agent shall promptly notify the Borrower and the Lenders of the increased Individual
Commitments and the increased RT Credit Limit after giving effect to the Accordion Increase requested in the Accordion Notice pursuant
to this Section 2.6. Notwithstanding the provisions of Section&nbsp;3.2 with respect to the funding of Loans in accordance with each relevant
Lender&#8217;s Pro Rata Share, the Administrative Agent shall be entitled to reallocate the funding or reimbursement obligations among
the relevant Lenders or the outstanding credit under the RT Facility (any such reallocation of outstanding credit to be effected by way
of participations) in order to ensure, to the greatest extent practicable, that after such increase the aggregate amount of credit extended
hereunder by each Lender coincides with such Lender&#8217;s Pro Rata Share of the aggregate amount of credit extended under the RT Facility
by all of the relevant Lenders, provided that no such allocation shall result in the aggregate amount of credit extended hereunder by
any Lender under the RT Facility exceeding such Lender&#8217;s Individual Commitment with respect to the RT Facility (after giving effect
to the Accordion Increase).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Notwithstanding any other provision of this Section&nbsp;2.6, no increase in the amount of the RT Facility
shall be permitted at any time that a Default or Event of Default has occurred and is continuing and no Lender shall be required to increase
its Individual Commitment under the RT Facility without its specific consent (which consent may be arbitrarily withheld). Each of the
Borrower, the Administrative Agent and the Lenders hereby agrees that the amendments specified in Section 2.6(b) will be made to give
effect to the Accordion Increase requested in the Accordion Notice and will become effective as of the Accordion Effective Date without
the requirement for any further documentation, consents or other action by or on behalf of such Person. On and after the Accordion Effective
Date, each reference in this agreement to &#8220;this agreement&#8221;, &#8220;hereunder&#8221;, &#8220;hereof&#8221;, or words of like
import referring to this agreement, and each reference in any related document to the &#8220;Credit Agreement&#8221;, &#8220;thereunder&#8221;,
&#8220;thereof&#8221;, or words of the like import relating to the Credit Agreement, shall mean and be a reference to this agreement as
amended by this Section 2.6(d) and as supplemented by any Accordion Confirmation executed and delivered in connection with the Accordion
Notice. This agreement shall, from and after the Accordion Effective Date, as amended by this Section 2.6(d), be and continue to be in
full force and effect.&#8221;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">2.1.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B>Benchmark
Replacement Setting</B>. Section 3.11 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">&#8220;<B>3.11</B></TD>
    <TD STYLE="text-align: justify">Benchmark Replacement Setting</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">Notwithstanding anything
to the contrary herein or in any other Credit Document:</P>


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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B>Replacing LIBOR</B>. On March 5, 2021 the Financial Conduct Authority (&#8220;<B>FCA</B>&#8221;), the
regulatory supervisor of LIBOR&#8217;s administrator (&#8220;<B>IBA</B>&#8221;), announced in a public statement the future cessation
or loss of representativeness of overnight/Spot Next, 1-month, 3-month, 6-month and 12- month LIBOR tenor settings. On the earlier of
(i) the date that all Available Tenors of LIBOR have either permanently or indefinitely ceased to be provided by IBA or have been announced
by the FCA pursuant to public statement or publication of information to be no longer representative and (ii) the Early Opt-in Effective
Date, if the then-current Benchmark is LIBOR, the Benchmark Replacement will replace such Benchmark for all purposes hereunder and under
any Credit Document in respect of any setting of such Benchmark on such day and all subsequent settings without any amendment to, or further
action or consent of any other party to this Agreement or any other Credit Document. If the Benchmark Replacement is Daily Simple SOFR,
all interest payments will be payable on a monthly basis.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><B>Replacing Future Benchmarks</B>. Upon the occurrence of a Benchmark Transition Event, the Benchmark
Replacement will replace the then-current Benchmark for all purposes hereunder and under any Credit Document in respect of any Benchmark
setting at or after 5:00 p.m. (Toronto Time) on the fifth (5<SUP>th</SUP>) Banking Day after the date notice of such Benchmark Replacement
is provided to the Lenders without any amendment to, or further action or consent of any other party to, this agreement or any other Credit
Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement
from Lenders comprising the Majority Lenders. At any time that the administrator of the then-current Benchmark has permanently or indefinitely
ceased to provide such Benchmark or such Benchmark has been announced by the regulatory supervisor for the administrator of such Benchmark
pursuant to public statement or publication of information to be no longer representative of the underlying market and economic reality
that such Benchmark is intended to measure and that representativeness will not be restored, the Borrower may revoke any request for a
borrowing of, conversion to or continuation of Loans to be made, converted or continued that would bear interest by reference to such
Benchmark until the Borrower&#8217;s receipt of notice from the Administrative Agent that a Benchmark Replacement has replaced such Benchmark,
and, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base
Rate Loan. During the period referenced in the foregoing sentence, the component of the Base Rate based upon the Benchmark will not be
used in any determination of the Base Rate.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><B>Benchmark Replacement Conforming Changes</B>. In connection with the implementation and administration
of a Benchmark Replacement, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes from time to
time, in consultation with the Borrower, and, notwithstanding anything to the contrary herein or in any other Credit Document, any amendments
implementing such Benchmark Replacement Conforming</TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">Changes will become effective without any
further action or consent of any other party to this agreement.</TD></TR>
                                                                                                                                         <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                         <TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><B>Notices; Standards for Decisions and Determinations</B>. The Administrative Agent will promptly notify
the Borrower and the Lenders of (i) the implementation of any Benchmark Replacement and (ii) the effectiveness of any Benchmark Replacement
Conforming Changes. Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Lender
(or group of Lenders) pursuant to this Section 3.11, including any determination with respect to a tenor, rate or adjustment or of the
occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action, will be conclusive
and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party hereto, except,
in each case, as expressly required pursuant to this Section 3.11.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify"><B>Unavailability of Tenor of Benchmark</B>. At any time (including in connection with the implementation
of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR or LIBOR), then the Administrative
Agent may remove any tenor of such Benchmark that is unavailable or non-representative for Benchmark (including Benchmark Replacement)
settings and (ii) the Administrative Agent may reinstate any such previously removed tenor for Benchmark (including Benchmark Replacement)
settings that has ceased to be unavailable or non-representative.&#8221;</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">2.1.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Restrictive Covenants</B>. Section 11.2 of the Credit Agreement is hereby amended as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">by deleting paragraph (f) in its entirety and replacing it with the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0 0.75in; text-align: justify; text-indent: 0in"></P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.75in">&nbsp;</TD>
    <TD STYLE="width: 0.5in">&#8220;(f)</TD>
    <TD STYLE="text-align: justify"><B>Distributions.</B>
The Borrower shall not:</TD></TR>
  </TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">prior to the HY Effective Date, declare or pay any Distributions; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">following the HY Effective Date, declare or pay any Distributions, other than declarations and payments
of dividends on the Borrower&#8217;s Shares in an amount not to exceed $45,000,000 in the aggregate during any twelve-month period, provided
that no Default or Event of Default has occurred and is continuing at such time or as a result of such Distribution being made.&#8221;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">by adding the following new paragraph (o) immediately after existing paragraph (n):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0 1.25in; text-align: justify; text-indent: -0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.75in">&nbsp;</TD>
    <TD STYLE="width: 0.5in">&#8220;(o)</TD>
    <TD STYLE="text-align: justify"><B>Repayment
of HY Indebtedness.</B> The Borrower shall not, nor shall it suffer or permit any other Subject Entity to, repay any HY Indebtedness other
than scheduled repayments of principal and interest expressly permitted or required to be repaid pursuant to the terms of the HY Indenture,
provided that at the time of any such proposed repayment, no Default or Event of Default has occurred</TD></TR>
  </TABLE>

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    <TD STYLE="width: 0.75in">&nbsp;</TD>
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: justify">and is continuing or would occur immediately
after the making of such repayment.&#8221;</TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">2.1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Waivers and Amendments</B>. Section 14.14 of the Credit Agreement is hereby amended as follows:</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">by adding &#8220;and except as otherwise permitted pursuant to Section 2.6&#8221; in paragraph (a) immediately
after the reference therein to &#8220;Subject to Sections 14.14(b) and (c)&#8221;;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">by adding &#8220;(other than pursuant to Section 2.6)&#8221; in clause (b)(i) immediately after the reference
therein to &#8220;increase the amount of either Credit Limit&#8221;; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">by adding &#8220;(other than pursuant to Section 2.6)&#8221; in clause (b)(iv) immediately after the reference
therein to &#8220;amend the requirement of pro rata applicable of all amounts received by the Administrative Agent in respect of either
Credit Facility&#8221;.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">2.1.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Schedule
A</B>. Schedule A of the Credit Agreement is hereby deleted in its entirety and replaced with Schedule A attached hereto.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article&nbsp;3<BR>
CONDITIONS PRECEDENT TO AMENDMENTS</P>

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  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">3.1</TD>
    <TD STYLE="text-align: justify">Conditions Precedent to Amendments</TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">3.1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The amendments to the Credit Agreement set out in&nbsp;Article&nbsp;2 of this Agreement (collectively, the
&#8220;<B>Amendments</B>&#8221;) shall not become effective unless and until all the following conditions precedent are satisfied or
waived by the Lenders (the &#8220;<B>Effective Date</B>&#8221;):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">each of the signatories hereto has executed and delivered this Agreement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">each of the Obligors shall have duly executed and delivered to the Administrative Agent the Credit Documents
and amendments and/or confirmations to the Credit Documents to which each is a party and required as a result of the Amendments, in form
and substance satisfactory to the Administrative Agent;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the Administrative Agent and its legal counsel shall be satisfied, acting reasonably, that all necessary
approvals, acknowledgements, directions and consents have been given and that all relevant laws have been complied with in respect of
all agreements and transactions referred to herein;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the Borrower shall cause to be delivered to the Administrative Agent, in form and substance satisfactory
to the Administrative Agent:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a Closing Certificate of the Borrower, certifying, among other things, that (x) no Default or Event of
Default has occurred and is continuing and (y) there is no change in the information certified in the Perfection Certificates last delivered
to the Administrative Agent that would result in the Liens in</TD></TR></TABLE>


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<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">favour of the Administrative Agent on
the Secured Assets becoming unperfected or, in the case of any after acquired assets, such assets not being subject to a Lien under a
Security Document;</TD></TR>
                                                                                                                                         <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                         <TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">a certificate of status or good standing or a certificate to similar effect for each Obligor, issued by
the appropriate governmental body or agency; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">an opinion of legal counsel to the Obligors relating to the enforceability of the Credit Agreement (as
amended by this Agreement and the first amending agreement, the second amending agreement, the third amending agreement, the fourth amending
agreement, the fifth amending agreement and the sixth amending agreement referenced in the first recital hereof), the Credit Documents
entered into in connection with this Agreement, and such other matters as the Administrative Agent may reasonably request; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">except as otherwise provided in the relevant amendments and/or confirmations to the Security Documents,
all documents and instruments shall have been properly registered, recorded and filed in all places which are desirable or required to
make effective the Security created or intended to be created by the Obligors in favour of the Administrative Agent pursuant to the Security
Documents and to ensure the perfection and the intended priority of such Security.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article&nbsp;4<BR>
REPRESENTATIONS AND WARRANTIES</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">4.1</TD>
    <TD STYLE="text-align: justify">Representations and Warranties of the Borrower</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">The Borrower represents and
warrants to and in favour of each of the Lenders as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">4.1.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>General Warranties.</B> The representations and warranties made by it to the Lenders under Article 10 of the Credit Agreement
(except for those which are made as of a specific date) are true, accurate and complete in all respects as if they were made on the date
of execution and delivery hereof with references therein to the Credit Agreement being replaced by references to this Agreement and the
Credit Agreement as amended by the Amendments, and such representations and warranties are hereby so repeated, it being understood that
to the extent such representations and warranties relate solely to a specifically identified earlier date they need only be true and correct
as of such earlier date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">4.1.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Event of Default Warranty.</B> The Borrower represents and warrants that no Default or Event of Default exists or would result
from the Amendments becoming effective.&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article&nbsp;5<BR>
GENERAL</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">5.1</TD>
    <TD STYLE="text-align: justify">Effect of Amendments</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">5.1.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Entire Agreement</B>. The Credit Agreement as amended by the Amendments shall constitute one agreement, and the Credit Agreement
as so amended is hereby ratified and confirmed by the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">5.1.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Future References to the Credit Agreement.</B> On and after the date of this Agreement, each reference in the Credit Agreement
to &#8220;this Agreement&#8221;, &#8220;hereunder&#8221;, &#8220;hereof&#8221;, or words of like import referring to the Credit Agreement,
and each reference in any related document to the &#8220;Credit Agreement&#8221;, &#8220;thereunder&#8221;, &#8220;thereof&#8221;, or
words of the like import relating to the Credit Agreement, shall mean and be a reference to the Credit Agreement as amended by the Amendments.
The Credit Agreement, as amended hereby, is and shall continue to be in full force and effect and is hereby in all respects ratified
and confirmed.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">5.2</TD>
    <TD STYLE="text-align: justify">Further Assurances</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">The Borrower shall, at their
own expense, do, make, execute or deliver all such further acts, documents and things in connection with this Agreement as the Administrative
Agent may reasonably require for the purpose of giving effect to this Agreement, all promptly following the request of the Administrative
Agent.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">5.3</TD>
    <TD STYLE="text-align: justify">Credit Document</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">This Agreement shall constitute
a Credit Document.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">5.4</TD>
    <TD STYLE="text-align: justify">Fees and Expenses</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">The Borrower shall, promptly
following the request by the Administrative Agent, reimburse the Administrative Agent on a full indemnity basis for all reasonable out-of-pocket
expenses incurred by the Administrative Agent in connection with the preparation, settlement, execution and delivery of this Agreement
and the entry into effect of the Amendments.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">5.5</TD>
    <TD STYLE="text-align: justify">Benefit &amp; Burden</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">This Agreement shall enure
to the benefit of and be binding upon the parties hereto, their respective successors and each assignee of some or all of the rights
or obligations of the parties under the Credit Documents permitted by the Credit Agreement.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">5.6</TD>
    <TD STYLE="text-align: justify">Counterparts</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">This Agreement may be executed
in any number of counterparts, each of which shall be deemed to be an original and all of which taken together shall be deemed to constitute
one and the same agreement counterpart. Transmission of a copy of an executed signature page of this Agreement by facsimile or e-mail
in pdf format or by other electronic means by one party hereto</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">to each other party hereto shall be as effective
as delivery of an original manually executed counterpart hereof to each other party hereto.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 1in; text-align: left">5.7</TD>
    <TD STYLE="text-align: justify">Governing Law</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">This Agreement shall be governed
by, and construed and interpreted in accordance with, the laws in force in the Province of British Columbia and the federal laws of Canada
applicable therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in"><B>IN WITNESS WHEREOF</B>
the parties hereto have executed this Agreement on the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Ero Copper Corp.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Suite 1050</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">625 Howe Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Vancouver, British Columbia V6C 2T6</P></TD>
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>ERO COPPER CORP.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2"><I>(signed)</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Attention: Chief Financial Officer</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; width: 35%">Name:</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Telefax: <B>[Redacted &#8211; personal information]</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Email: <B>[Redacted &#8211; personal information]</B></P></TD>
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2"><I>(signed)</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid">Name:</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title:</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Bank of Nova Scotia</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Global Banking and Markets - Loan Syndications</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">40 King Street West, 62<SUP>nd</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Toronto, Ontario M5W 2X6</P></TD>
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>THE BANK OF NOVA SCOTIA, as<BR>
    Administrative Agent</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2"><I>(signed)</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Attention: Director, Head of Agency</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; width: 35%">Name: </TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Telefax: <B>[Redacted &#8211; personal information]</B></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Email: <B>[Redacted &#8211; personal information]</B></TD>
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2"><I>(signed)</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid">Name: </TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Bank of Nova Scotia</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Corporate Banking - Global Mining</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">40 King Street West, 62<SUP>nd</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Toronto, Ontario M5W 2X6</P></TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>THE BANK OF NOVA SCOTIA, as Lender</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid"><I>(signed)</I></TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Attention: Director, Corporate Banking</TD>
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Telefax: <B>[Redacted &#8211; personal information]</B></TD>
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Email: <B>[Redacted &#8211; personal information]</B></TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>(signed)</I></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

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

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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Bank of Montreal</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">885 West Georgia Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">18<SUP>th</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Vancouver, British Columbia V6C 3G1</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>BANK OF MONTREAL, as Lender</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">Attention: <B>[Redacted &#8211; personal information]</B></TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid"><I>(signed)</I></TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Telefax: <B>[Redacted &#8211; personal information]</B></TD>
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Email: <B>[Redacted &#8211; personal information]</B></TD>
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>(signed)</I></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always"></DIV><DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Cambria, Times, Serif; margin: 0pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule&nbsp;A<BR>
LENDERS AND INDIVIDUAL COMMITMENTS</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>RT
Credit Facility</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Prior
to the Issuance of the HY Indebtedness:</U></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Lenders</U></B></FONT></P></TD>
    <TD STYLE="width: 40%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Individual
    Commitments</U></B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Bank of Nova Scotia</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>[Redacted
    &#8211; commercially sensitive information]</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank
    of Montreal</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>[Redacted
    &#8211; commercially sensitive information]</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$150,000,000</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>On
and following the Issuance of the HY Indebtedness:</U></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Lenders</U></B></FONT></P></TD>
    <TD STYLE="width: 40%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Individual
    Commitments</U></B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Bank of Nova Scotia</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>[Redacted
    &#8211; commercially sensitive information]</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank
    of Montreal</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>[Redacted
    &#8211; commercially sensitive information]</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$75,000,000</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NRT
Credit Facility</B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Lenders</U></B></FONT></P></TD>
    <TD STYLE="width: 40%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Individual
    Commitments</U></B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Bank of Nova Scotia</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank
    of Montreal</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$0</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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