<SEC-DOCUMENT>0001104659-21-130522.txt : 20211027
<SEC-HEADER>0001104659-21-130522.hdr.sgml : 20211027
<ACCEPTANCE-DATETIME>20211027170110
ACCESSION NUMBER:		0001104659-21-130522
CONFORMED SUBMISSION TYPE:	S-3ASR
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20211027
DATE AS OF CHANGE:		20211027
EFFECTIVENESS DATE:		20211027

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Metropolitan Bank Holding Corp.
		CENTRAL INDEX KEY:			0001476034
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				134042724
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-260532
		FILM NUMBER:		211353816

	BUSINESS ADDRESS:	
		STREET 1:		99 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		212-659-0600

	MAIL ADDRESS:	
		STREET 1:		99 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3ASR
<SEQUENCE>1
<FILENAME>tm2131062d1_s3asr.htm
<DESCRIPTION>S-3ASR
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange Commission
on October 27, 2021</B></P>

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

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

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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

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

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-3</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>THE SECURITIES ACT OF 1933</I></B></P>

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

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="background-color: white"><B>METROPOLITAN
BANK HOLDING CORP.</B></FONT></P>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt; width: 49%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>New York</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; font-size: 10pt; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt; width: 49%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>13-4042724</B></FONT></TD></TR>
  <TR>
    <TD STYLE="text-align: center; vertical-align: top"><B>(State or other jurisdiction of</B> <B><BR>
incorporation or organization)</B></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top"><B>(I.R.S. Employer</B> <B><BR>
Identification Number)</B></TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>99 Park Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York,&nbsp;New York 10016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(212)&nbsp;659-0600</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address, including zip code, and telephone
number, including area code, of registrant&rsquo;s principal executive offices)</B></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Executive Vice President and Chief Financial
Officer</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>99 Park Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York,&nbsp;New York 10016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(212)&nbsp;659-0600</B></P>

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>5335 Wisconsin Avenue, NW, Suite 780</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, DC 20015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(202) 274-2000</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Approximate date of commencement of proposed sale
to the public: From time to time after this Registration Statement becomes effective.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the only securities being registered on this
form are being offered pursuant to dividend or interest reinvestment plans, please check the following box.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If any of the securities being registered on this
form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered
only in connection with dividend or interest reinvestment plans, check the following box.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this form is filed to register additional securities
for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this form is a post-effective amendment filed
pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of
the earlier effective registration statement for the same offering.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this form is a registration statement pursuant
to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant
to Rule 462(e) under the Securities Act, check the following box.&nbsp; <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this form is a post-effective amendment to a
registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities
pursuant to Rule 413(b) under the Securities Act, check the following box.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></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">Indicate by check mark whether the registrant is
a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See
the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company&rdquo; and
 &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large
    accelerated&nbsp;filer&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 41%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated&nbsp;filer&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated
    filer&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 39%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title of Each Class&nbsp;of <BR>
Securities to be Registered</B></FONT></TD>
    <TD STYLE="padding-right: 0.05pt; padding-left: 0.75pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; width: 14%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount<BR>
to be<BR>
Registered(1)</B></FONT></TD>
    <TD STYLE="padding-right: 0.05pt; padding-left: 0.75pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; width: 14%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed<BR>
Maximum<BR>
Offering Price<BR>
Per Unit(1)</B></FONT></TD>
    <TD STYLE="padding-right: 0.05pt; padding-left: 0.75pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; width: 14%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed<BR>
Maximum<BR>
Aggregate<BR>
Offering&nbsp;Price(1)</B></FONT></TD>
    <TD STYLE="padding-right: 0.05pt; padding-left: 0.75pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; width: 14%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount of<BR>
Registration Fee(2)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; padding-left: 8pt; text-indent: -8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; padding-left: 8pt; text-indent: -8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preferred Stock</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; padding-left: 8pt; text-indent: -8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depositary Shares(3)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; padding-left: 8pt; text-indent: -8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt Securities</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; padding-left: 8pt; text-indent: -8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants(4)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; padding-left: 8pt; text-indent: -8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subscription Rights</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; padding-left: 8pt; text-indent: -8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05pt; padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
  </TABLE>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 95%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">An indeterminate amount of securities are being registered as may from time to time be offered at indeterminate prices, including an indeterminate number or amount of securities that may be issued upon the exercise, settlement, exchange or conversion of securities offered hereunder. Separate consideration may or may not be received for securities that are issuable on exercise, settlement, exchange or conversion of other securities.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with Rules 456(b) and 457(r) under the Securities Act of 1933, the registrant is deferring payment of the registration fee.&nbsp;&nbsp;In connection with the securities offered hereby, the registrant will pay &ldquo;pay-as-you-go registration fees&rdquo; in accordance with Rule 456(b) and the exact registration fee owed, if any, will be paid at that time.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each depositary share will be issued under a deposit agreement and will represent a fractional share or multiple shares of preferred stock.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes warrants to purchase common stock, preferred stock or debt securities.</FONT></TD></TR>
  </TABLE>

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

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

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"><B>PROSPECTUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="tm2131064d1_s3asrimg001.jpg" ALT="A picture containing logo&#10;&#10;Description automatically generated" STYLE="height: 77px; width: 288px"></FONT></P>

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>COMMON STOCK</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PREFERRED STOCK</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>DEPOSITARY SHARES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>DEBT SECURITIES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>WARRANTS</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SUBSCRIPTION RIGHTS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Metropolitan Bank Holding Corp. may offer to sell,
from time to time:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">shares of our common stock,</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">shares of our preferred stock, either separately or represented by depositary
shares,</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">debt securities, which may be issued in one or more series and that may be
senior debt securities or subordinated debt securities,</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">warrants to purchase other securities, or</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">subscription rights consisting of any combination of the above securities.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The securities may be offered and sold in any combination
or amounts, at prices and on terms that we will determine at the time of any particular offering, to or through one or more agents, dealers
or underwriters, or directly to purchasers, on a continuous or delayed basis.</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">This prospectus provides you with a general description
of the securities that may be offered. Each time securities are sold, we will provide one or more prospectus supplements that will contain
additional information about the specific offering and the terms of the securities being offered. The prospectus supplements may also
add to, update or change information contained in this prospectus. You should carefully read this prospectus and any accompanying prospectus
supplement before you invest in any of our securities.</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">Our common stock is traded on the New York Stock
Exchange under the symbol &ldquo;MCB.&rdquo;</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"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>You
should read this prospectus and any applicable prospectus supplements carefully before you invest. Investing in our securities involves
a high degree of risk. See the section entitled &ldquo;Risk Factors&rdquo; on page 5 of this prospectus, in any prospectus supplement
and in the documents we file with the Securities and Exchange Commission that are incorporated in this prospectus by reference for certain
risks and uncertainties you should consider.</B></FONT>&nbsp;</P>



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>You should rely only on the information contained
or incorporated by reference in this prospectus or any applicable prospectus supplement. We have not authorized anyone to provide you
with different information. You should not assume that the information in this prospectus or any applicable prospectus supplement is accurate
as of any date other than the date on the front of such documents. We are not making an offer to sell these securities in any jurisdiction
where the offer or sale is not permitted. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Neither the Securities and Exchange Commission,
nor any bank regulatory agency, nor any state securities commission has approved or disapproved of these securities or determined if this
prospectus is accurate or complete. Any representation to the contrary is a criminal offense. The securities are not savings or deposit
accounts <FONT STYLE="background-color: white">or other obligations of any banking or&nbsp;non-banking&nbsp;subsidiary of ours</FONT>
and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency.</B></P>



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The date of this prospectus is October 27, 2021</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">Page</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; text-align: left"><A HREF="#a_001">ABOUT THIS PROSPECTUS</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 8%; text-align: right"><A HREF="#a_001">1</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="#a_002">WHERE YOU CAN FIND MORE INFORMATION</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_002">1</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="#a_003">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_003">2</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="#a_004">METROPOLITAN BANK HOLDING CORP.</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_004">4</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="#a_005">RISK FACTORS</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_005">5</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_006">USE OF PROCEEDS</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_006">5</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="#a_007">SUMMARY OF THE SECURITIES WE MAY OFFER</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_007">5</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="#a_008">DESCRIPTION OF CAPITAL STOCK</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_008">6</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_009">DESCRIPTION OF DEPOSITARY SHARES</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_009">10</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="#a_010">DESCRIPTION OF DEBT SECURITIES</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_010">12</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_011">DESCRIPTION OF WARRANTS</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_011">21</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="#a_012">DESCRIPTION OF SUBSCRIPTION RIGHTS</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_012">22</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_013">PLAN OF DISTRIBUTION</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_013">23</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="#a_014">LEGAL MATTERS</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_014">25</A></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_015">EXPERTS</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_015">25</A></TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise indicated or the context otherwise
requires, all references in this prospectus to the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;our,&rdquo; &ldquo;us&rdquo; or similar
terms refer to Metropolitan Bank Holding Corp., together with its subsidiaries. References to the &ldquo;Bank&rdquo; mean Metropolitan
Commercial Bank.</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_001"></A>ABOUT THIS PROSPECTUS</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">This prospectus is part of an automatic &ldquo;shelf&rdquo;
registration statement that we filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) as a &quot;well-known seasoned
issuer&quot; as defined in Rule 405 of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). By using an automatic
shelf registration process we may sell, at any time and from time to time, in one or more offerings, any of the securities described in
this prospectus up to an indeterminate total dollar amount.</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">This prospectus provides you with a general description
of the securities we may offer. Each time we sell securities, we will provide a prospectus supplement that will contain specific information
about the terms of that offering. The accompanying prospectus supplement may also add, update or change information contained in this
prospectus. References to the &ldquo;applicable prospectus supplement&rdquo; are to the prospectus supplement to this prospectus that
describes the specific terms and conditions of the applicable security. You should read both this prospectus and the accompanying prospectus
supplement together with additional information described under the heading &ldquo;Where You Can Find More Information.&rdquo;</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">This prospectus contains summaries of certain provisions
contained in some of the documents described herein, but reference is made to the actual documents for complete information. All of the
summaries are qualified in their entirety by the actual documents. Copies of some of the documents referred to herein have been filed,
will be filed or will be incorporated by reference as exhibits to the registration statement of which this prospectus is a part, and you
may obtain copies of those documents as described under the heading &ldquo;Where You Can Find More Information.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have not authorized anyone to provide you with
any information or to make any representations other than those contained or incorporated by reference in this prospectus. We take no
responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. We are not
making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information
in this prospectus and the documents incorporated by reference is accurate only as of their respective dates.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_002"></A>WHERE
YOU CAN FIND MORE <FONT STYLE="font-family: Times New Roman, Times, Serif">INFORMATION</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have filed with the SEC a registration statement
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) that registers, among other securities, the offer and
sale of the securities that we may offer under this prospectus. The registration statement, including the attached exhibits and schedules
included or incorporated by reference in the registration statement, contains additional relevant information about us. The rules and
regulations of the SEC allow us to omit certain information included in the registration statement from this prospectus. In addition,
we file annual, quarterly and current&nbsp;reports, proxy statements and other information with the SEC under the Securities Exchange
Act of 1934 (the &ldquo;Exchange Act&rdquo;). These documents are available at the Internet site that the SEC maintains, <I><U>www.sec.gov</U></I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The SEC allows us to &ldquo;incorporate by reference&rdquo;
the information that we file with the SEC. This permits us to disclose important information to you by referring to these filed documents.
Any information referred to in this way is considered part of this prospectus, and any information filed with the SEC by us after the
date of this prospectus will automatically be deemed to update and supersede this information. We incorporate by reference the following
documents that have been filed with the SEC (other than information in such documents that is not deemed to be filed):</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Annual Report on <A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000155837021002554/mcb-20201231x10k.htm">Form 10-K for the fiscal year ended December&nbsp;31, 2020, filed with the SEC on March 8, 2021</A>; </FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Definitive Proxy Statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000110465921054096/tm2112983-1_def14a.htm">Schedule&nbsp;14A, filed with the SEC on April&nbsp;23, 2021</A>&nbsp;(to the extent specifically incorporated by reference in the&nbsp;Annual Report on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1476034/000155837021002554/mcb-20201231x10k.htm">Form 10-K for the year ended December&nbsp;31, 2020, filed with the SEC on March&nbsp;8, 2021</A>);</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">our Quarterly Reports on Form 10-Q for the quarters ended
                                                                                                             March&nbsp;31, 2021 and June&nbsp;30, 2021, filed with the SEC on <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/1476034/000155837021005944/mcb-20210331x10q.htm" STYLE="-sec-extract: exhibit">May&nbsp;5, 2021</A>&nbsp;and&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1476034/000155837021010166/mcb-20210630x10q.htm">August&nbsp;4,
                                                                                                             2021</A>, respectively;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">our Current Reports on Form 8-K filed with the SEC on&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1476034/000094337421000150/form8k_033121.htm">April&nbsp;6,
                                                                                                             2021</A>,&nbsp;<A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000094337421000154/metropolitan8k_041221.htm">April&nbsp;12,
                                                                                                             2021</A>,&nbsp; <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1476034/000094337421000230/form8k_052621.htm">May&nbsp;27,&nbsp;2021</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1476034/000110465921116217/tm2127664d1_8k.htm">September
                                                                                                             16, 2021</A> and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1476034/000110465921130480/tm2131200d1_8k.htm">October 27, 2021</A>; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the description of our common stock set forth in our registration statement
on <A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000094337417000470/form8a_metbank-110717.htm">Form 8-A filed with the SEC on November 7, 2017</A> (File No. 001-38282), as updated by <A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000155837020002220/mcb-20191231ex43ea3f1d2.htm" STYLE="-sec-extract: exhibit">Exhibit&nbsp;4.3 to our Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2019, filed with the SEC on&nbsp;March 9, 2020</A>, including any other amendment or reports filed for
the purpose of updating such description.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, we also incorporate by reference all
future documents that we file with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of our initial
registration statement relating to the securities until the completion of the distribution of the securities covered by this prospectus.
These documents include periodic reports, such as annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form
8-K (other than current reports furnished under Items 2.02 or 7.01 of Form 8-K), as well as proxy statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information incorporated by reference contains
information about us and our financial condition and is an important part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You can obtain any of the documents incorporated
by reference in this prospectus through us, or from the SEC through the SEC&rsquo;s website at <I><U>www.sec.gov</U></I>. Documents incorporated
by reference are available from us without charge, excluding any exhibits to those documents, unless the exhibit is specifically incorporated
by reference as an exhibit in this prospectus. You can obtain documents incorporated by reference in this prospectus by requesting them
in writing or by telephone from us at the following address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Metropolitan Bank Holding
Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">99 Park Avenue,&nbsp;New York,&nbsp;New
York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Attention: Investor Relations
Department</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(212)&nbsp;659-0600</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, we maintain a corporate website,
<I><U>www.mcbankny.com</U></I>. We make available, through our website, our annual reports on Form 10-K, quarterly reports on Form 10-Q,
current reports on Form 8-K, and any amendments to those reports filed or furnished pursuant to Section&nbsp;13(a) or 15(d) of the Exchange
Act as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. This reference to our
website is for the convenience of investors as required by the SEC and shall not be deemed to incorporate any information on the website
into this registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_003"></A>SPECIAL NOTE REGARDING FORWARD-LOOKING
STATEMENTS</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">This prospectus and the documents
incorporated by reference herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act, and
Section&nbsp;21E of the Exchange Act, which are subject to the &ldquo;safe harbor&rdquo; created by those sections. Forward-looking
statements are based on our management&rsquo;s beliefs and assumptions and on information currently available to our management. In
some cases, you can identify forward-looking statements by terms such as &ldquo;may,&rdquo; &ldquo;will,&rdquo;
 &ldquo;should,&rdquo; &ldquo;could,&rdquo; &ldquo;goal,&rdquo; &ldquo;would,&rdquo; &ldquo;expect,&rdquo; &ldquo;plan,&rdquo;
 &ldquo;intend,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;project,&rdquo;
 &ldquo;predict,&rdquo; &ldquo;potential,&rdquo; &ldquo;continue&rdquo; and similar expressions intended to identify forward-looking
statements or the negative of these terms or other comparable terminology. These statements include statements with respect to our
and the Bank&rsquo;s strategies, plans, objectives, expectations and intentions and other statements in this prospectus and the
documents incorporated by reference. These statements are not guarantees of future performance and are subject to risks,
uncertainties and other factors (many of which are beyond the Company&rsquo;s control) that could cause actual results to differ
materially from future results expressed or implied by such forward-looking statements. Factors that may cause actual results to
differ from those results expressed or implied include those factors listed under the heading &ldquo;Risk Factors&rdquo; in the
Company&rsquo;s Annual Report on Form 10-K filed with the SEC on March 8, 2021, and &ldquo;Item 2. Management&rsquo;s Discussion and
Analysis of Financial Condition and Results of Operations&rdquo; of the Company&rsquo;s Quarterly Report on Form 10-Q filed with the
SEC on August 4, 2021.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ from
those expressed or implied by the forward-looking statements. These factors include the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">increases in competitive pressures among financial institutions or from non-financial
institutions;</FONT></TD></TR></TABLE>

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


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">changes in the interest rate environment, including the impact of interest
rate reform that applies to transactions that reference the London Inter-Bank Offered Rate (&ldquo;LIBOR&rdquo;) or another reference
rate expected to be discontinued, may reduce interest margins or affect the value of our investments;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">changes in deposit flows or loan demand may adversely affect the Company&rsquo;s
business;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">changes in accounting principles, policies or guidelines may cause the Company&rsquo;s
financial condition to be reported or perceived differently;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">general economic conditions, including unemployment rates, either nationally
or locally in some or all of the areas in which the Company does business, or conditions in the securities markets or the banking industry
may be less favorable than currently anticipated;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">declines in real estate values in the Company&rsquo;s market area may
                                                                                                             adversely affect its loan production;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">legislative or regulatory changes or actions may adversely affect the Company&rsquo;s
business;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">applicable technological changes may be more difficult or expensive than
anticipated;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">system failures or cyber-security breaches of our information technology
infrastructure or those of the Company&rsquo;s third-party service providers;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the failure to maintain current technologies and to successfully implement
future information technology enhancements;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the ability to retain key employees;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">successful implementation or consummation of new business initiatives may
be more difficult or expensive than anticipated;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the risks associated with adverse changes to credit quality, including changes
in the level of loan delinquencies, non-performing assets and charge-offs and changes in the estimates of the adequacy of the allowance
for loan losses;</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">difficulties associated with achieving or predicting expected future financial
results; and</FONT></TD></TR></TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the potential impact on the Company&rsquo;s operations and customers resulting
from natural or man-made disasters, wars, acts of terrorism, cyber-attacks and pandemics such as the Coronavirus (&ldquo;COVID-19&rdquo;),
as discussed below.</FONT></TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in; background-color: white">Further,
given its ongoing and dynamic nature, including the rate of vaccine acceptance and the development of new variants, it is difficult
to predict the full impact of the COVID-19 outbreak on our business. The extent of such impact will depend on future developments,
which are highly uncertain, including when the coronavirus can be controlled and abated and when and whether the continued reopening
of businesses will result in a meaningful increase in economic activity. As the result of the COVID-19 pandemic and the related
adverse local and national economic consequences, we could be subject to any of the following risks, any of which could have a
material, adverse effect on our business, financial condition, liquidity, and results of operations: the demand for our products and
services may decline, making it difficult to grow assets and income; if the economy is unable to substantially reopen, and higher
levels of unemployment continue for an extended period of time, loan delinquencies, problem assets, and foreclosures may increase,
resulting in increased charges and reduced income; collateral for loans, especially real estate, may decline in value, which could
cause loan losses to increase; our allowance for loan losses may increase if borrowers experience financial difficulties, which will
adversely affect our net income; the net worth and liquidity of loan guarantors may decline, impairing their ability to honor
commitments to us; our cyber security risks may increase if a significant number of our employees are forced to continue working
remotely; and Federal Deposit Insurance Corporation (&ldquo;FDIC&rdquo;) premiums may increase if the agency experiences additional
resolution costs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We discuss many of these risks, uncertainties and
other factors in our Annual Reports on Form 10-K, in our Quarterly Reports on Form 10-Q and in any prospectus supplement related hereto
in greater detail under the heading &ldquo;Risk Factors.&rdquo; Given these risks, uncertainties and other factors, you should not place
undue reliance on these forward-looking statements. Also, these forward-looking statements represent our estimates and assumptions only
as of the date of the document containing the applicable statement. You should read this prospectus and the documents incorporated by
reference herein completely and with the understanding that our actual future results may be materially different from what we expect.
We hereby qualify our forward-looking statements by these cautionary statements. Except as required by law, we assume no obligation to
update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated
in these forward-looking statements, even if new information becomes available in the future.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_004"></A>METROPOLITAN BANK HOLDING
CORP.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company is a bank holding company
headquartered in New York, New York and registered under the Bank Holding Company Act. Through its wholly owned bank subsidiary, the
Bank, a New York state chartered bank, the Company provides a broad range of business, commercial and retail banking products and
services to small businesses, middle-market enterprises, public entities and affluent individuals primarily in the New York
metropolitan area. The Company&rsquo;s founding members, including the Chief Executive Officer, Mark DeFazio, recognized a need in
the New York metropolitan area for a solutions-oriented, relationship bank focused on middle market companies and real estate
entrepreneurs whose financial needs are often overlooked by larger financial institutions. The Bank was established in 1999 with the
goal of helping these under-served clients build and sustain generational wealth. Its motto, &ldquo;The Entrepreneurial Bank,&rdquo;
is a reflection of the Bank&rsquo;s aspiration to develop a middle-market bank that shares the same entrepreneurial spirit of its
clients. By combining the high-tech service and relationship-based focus of a community bank with an extensive suite of financial
products and services offered, the Bank is well-positioned to continue to capitalize on the significant growth opportunities
available in the New York metropolitan area.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition to traditional commercial banking
products, the Bank offers corporate cash management and retail banking services and, through its Global Payments Group, provides
banking-as-a-service to its FinTech partners, which includes serving as an issuing bank for
third-party debit card programs nationwide. The Bank has developed various deposit gathering strategies, which generate the funding
necessary to operate without a large branch network. These activities, together with six strategically located banking centers,
generate a stable source of deposits and a diverse loan portfolio with attractive risk-adjusted yields.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As a bank holding company, the Company is subject
to the supervision of the Board of Governors of the Federal Reserve System (the &ldquo;FRB&rdquo;). As a state-chartered bank that is
a member of the Federal Reserve System, the Bank is subject to primary supervision, periodic examination and regulation by the New York
State Department of Financial Services as the state regulator and by the FRB as its primary federal regulator, as well as the regulations
of the FDIC and Consumer Financial Protection Bureau.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of September&nbsp;30, 2021, the Company&rsquo;s
assets, loans, deposits and stockholders&rsquo; equity totaled $6.1&nbsp;billion, $3.6&nbsp;billion, $5.5 billion and $542.7&nbsp;million,
respectively.</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">Our principal executive offices are located at
99 Park Avenue, New York, New York 10016, and our telephone number is (212) 659-0600.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_005"></A>RISK FACTORS</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">Investing in our securities involves risks. You
should carefully consider the risks described under &ldquo;Risk Factors&rdquo; in our most recent Annual Report on Form 10-K and any subsequent
Quarterly Reports on Form 10-Q, which descriptions are incorporated by reference herein, as well as the other information contained or
incorporated by reference in this prospectus or in any prospectus supplement hereto before making a decision to invest in our securities.
See &ldquo;Where You Can Find More Information,&rdquo; above for information about how to obtain a copy of these documents. In addition
to those risk factors, there may be additional risks and uncertainties of which management is not aware. Our business, financial condition
or results of operations could be materially affected by any of these risks. The trading price of our securities could decline due to
any of these risks, and you may lose all or part of your investment.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_006"></A>USE OF PROCEEDS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise set forth in a prospectus supplement
with respect to the proceeds from the sale of the particular securities to which such prospectus supplement relates, we intend to use
the net proceeds from the sale of the offered securities for general corporate purposes, which may include funding the repayment or redemption
of outstanding debt, share repurchases, investments in the Bank, as regulatory capital or otherwise, ongoing operations, interest and
dividend payments and possible acquisitions of businesses or assets.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The precise amounts and the timing of our use of
the net proceeds will depend upon market conditions, our subsidiaries&rsquo; funding requirements, the availability of other funds and
other factors. Until we use the net proceeds from the sale of any of our securities for general corporate purposes, we will use the net
proceeds to redeem indebtedness or for temporary investments. We expect that we will, on a recurrent basis, engage in additional financings
as the need arises to finance our corporate strategies, to fund our subsidiaries, to finance acquisitions or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The prospectus supplement with respect to an offering
of any security may identify different or additional uses for the proceeds of that offering.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_007"></A>SUMMARY OF THE SECURITIES
WE MAY OFFER</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The descriptions of the securities contained in
this prospectus, together with the applicable prospectus supplements, summarize certain material terms and provisions of the various types
of securities that we may offer. The particular material terms of the securities offered by a prospectus supplement will be described
in that prospectus supplement. If indicated in the applicable prospectus supplement, the terms of the offered securities may differ from
the terms summarized below. The prospectus supplement will also contain information, where applicable, about material U.S. federal income
tax considerations relating to the offered securities, and the securities exchange, if any, on which the offered securities will be listed.
The descriptions in this prospectus and the applicable prospectus supplement do not contain all of the information that you may find useful
or that may be important to you. You should refer to the provisions of the actual documents whose terms are summarized herein and in the
applicable prospectus supplement, because those documents, and not the summaries, define your rights as holders of the relevant securities.
For more information, please review the forms of these documents, which will be filed with the SEC and will be available as described
under the heading &ldquo;Where You Can Find More Information&rdquo; above.</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_008"></A>DESCRIPTION OF CAPITAL STOCK</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following description of our capital stock,
certain provisions of our certificate of incorporation and bylaws and certain provisions of New York law is a summary and is qualified
in its entirety by reference to our certificate of incorporation, bylaws and the New York Business Corporation Law (the &ldquo;NYBCL&rdquo;).
Copies of our certificate of incorporation and our bylaws have been filed with the SEC and are filed as exhibits to the registration statement
of which this prospectus forms a part.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our authorized capital consists of 25,000,000 shares
of common stock, $0.01 par value, 5,000,000 shares of Class A preferred stock, $0.01 par value, and 2,000,000 shares of Class B preferred
stock, $0.01 par value. All issued and outstanding shares are fully paid and non-assessable.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Voting rights.</I></B>&nbsp;All voting rights
are vested in the holders of our common stock, subject to the issuance of preferred stock with voting rights. Any issuance of our preferred
stock with voting rights may affect the voting rights of the holders of common stock. Except as discussed below in &ldquo;&mdash;Restrictions
on Acquisition of Metropolitan Bank Holding Corp.,&rdquo; each holder of common stock will be entitled to one vote per share. Holders
of our common stock are not entitled to cumulate their votes in the election of directors.</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"><B><I>Dividends.</I></B>&nbsp;Holders of our common
stock will be entitled to receive and share equally in such dividends as the board of directors of the Company may declare out of funds
legally available for such payments. If the Company issues preferred stock, holders of such stock may have a priority over holders of
common stock with respect to the payment of dividends. We may pay dividends to an amount equal to the excess of our capital surplus over
payments that would be owed upon dissolution to stockholders whose preferential rights upon dissolution are superior to those receiving
the dividend, and to an amount that would not make us insolvent, as and when declared by our board of directors. The holders of common
stock of the Company will be entitled to receive and share equally in dividends as may be declared by our board of directors out of funds
legally available therefor. If the Company issues additional shares of preferred stock in the future, the holders thereof may have a priority
over the holders of the common stock with respect to dividends.</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"><B><I>Liquidation or dissolution.</I></B>&nbsp;In
the event of a liquidation or dissolution of the Company, holders of our common stock and any participating preferred stock will be entitled
to receive, after payment or provision for payment of all of our debts and liabilities and the preferential rights of, and the payment
of liquidation preferences, if any, on any outstanding shares of preferred stock, all of our assets available for distribution. If we
issue preferred stock in the future, holders of such stock may have a senior interest over holders of common stock.</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"><B><I>No preemptive or redemption rights.</I></B>&nbsp;Holders
of our common stock will not have any preemptive rights or redemption rights with respect to any shares of our capital stock that may
be issued.</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"><B><I>Exchange rights.</I></B>&nbsp;We have agreed
to provide the holder of our Class B Preferred Stock with the right to exchange its shares of common stock for additional shares of preferred
stock in order to reduce its beneficial ownership of voting common stock to 9.9% of the Company&rsquo;s total outstanding voting common
stock.</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"><B><I>Registration rights.</I></B>&nbsp;We have
agreed to provide the holder of our Class B Preferred Stock with the right to include its common shares in a registration statement that
we are otherwise filing. To the extent the holder of our Class B Preferred Stock remains a holder of our common stock or our Class B Preferred
Stock, it may exercise its &ldquo;piggyback&rdquo; registration rights in connection with future offerings of our common stock, other
than registration statements filed on Forms S-4 or S-8.</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"><B><I>Listing.</I></B>&nbsp;The Company&rsquo;s
common stock is listed on New York Stock Exchange under the trading symbol &ldquo;MCB&rdquo;.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Preferred stock may be issued with preferences
and designations as our board of directors may from time to time determine. Our board of directors may, without stockholder approval,
issue shares of preferred stock with voting, dividend, liquidation and conversion rights that could dilute the voting strength of the
holders of the common stock and may assist management in impeding an unfriendly takeover or attempted change in control.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">None of our Class A Preferred Stock is currently
outstanding.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Only our Series F, Class B preferred stock is currently
outstanding.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Voting rights.</I></B>&nbsp;The holder of
our Series F, Class B Preferred Stock has no voting rights, except as may be provided for under the NYBCL.</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"><B><I>Dividends.</I></B>&nbsp;The holder of our
Series F, Class B Preferred Stock is entitled to receive ratable dividends when dividends are concurrently declared and payable on the
shares of common stock.</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"><B><I>Liquidation or dissolution.</I></B>&nbsp;In
the event of any liquidation, dissolution or winding up of the affairs of the Company, the assets of the Company or proceeds thereof&thinsp;
(whether capital or surplus) remaining available for distribution to stockholders of the Company after payment in full of all claims of
creditors of the Company and all amounts due on any preferred stock or other securities of the Company that are superior and prior in
rank to the common stock and the Series F, Class B Preferred Stock will be distributed to the holders of the common stock and the Series
F, Class B Preferred Stock pro rata based, respectively, on the number of shares of common stock outstanding at such time and the number
of shares of common stock into which the Series F, Class B Preferred Stock outstanding at such time is then convertible.</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"><B><I>Preemptive or redemption rights.</I></B>&nbsp;The
holder of our Series F, Class B Preferred Stock does not have preemptive rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Conversion and transfer rights</I></B>. Except as provided below,
the shares of Series F, Class B Preferred Stock are not convertible into common stock by the holder or any affiliate of such holder and
may only be transferred by the holder or such affiliate (i) to an affiliate of such holder, (ii) to the Company, (iii) in a widespread
public distribution, (iv) in a transfer in which no transferee (or group of associated transferees) would receive 2% or more of any class
of voting securities of the Company, or (v) to a transferee that would control more than 50% of the voting securities of the Company without
any transfer from the initial holder or any affiliate of such initial holder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">However, we may agree to permit the holder of our Series&nbsp;F, Class&nbsp;B
Preferred Stock to exchange shares of preferred stock for shares of our common stock and, in connection with the issuance of additional
shares of common stock of the Company, the holder of our Series F, Class B Preferred Stock has the right to exchange shares of preferred
stock for shares of our common stock in order to allow it to maintain its percent ownership of the outstanding common stock of the Company
it owned immediately prior to the issuance of the additional shares of common stock by the Company. Additionally, if at any time any Series
F, Class B Preferred Stock held by the holder are transferred to any person other than an affiliate of the holder pursuant to either:
(i) in a widespread public distribution; (ii) in a transfer in which no transferee (or group of associated transferees) would receive
2% or more of any class of voting securities of the Company; or (iii) a transferee that would control more than 50% of the voting securities
of the Company without any transfer from the initial holder or any affiliate of such initial holder, such shares would immediately and
without further action on the part of any person convert automatically to common shares, on a one for one basis, subject to compliance
with the requirements of any federal banking regulators with respect to restrictions on the transfer of non-voting shares.</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"><B><I>Registration rights</I></B>. We have agreed
to provide the holder of our Series F, Class B Preferred Stock with the right to include its common or preferred shares in a registration
statement that we are otherwise filing. To the extent the holder of our Series F, Class B Preferred Stock remains a holder of our common
stock or our Series F, Class B Preferred Stock, it may exercise its &ldquo;piggyback&rdquo; registration rights in connection with future
offerings of our common stock, other than registration statements filed on Forms S-4 or S-8.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Restrictions on acquisition of Metropolitan Bank Holding Corp.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following is a general summary of the material
provisions of our Certificate of Incorporation and Bylaws, the NYBCL and federal law that may have an &ldquo;anti-takeover effect.&rdquo;
Such provisions might discourage future takeover attempts by impeding efforts to acquire us or stock purchases in furtherance of such
an acquisition.</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"><B><I>Authorized shares of capital stock.</I></B>&nbsp;Our
Certificate of Incorporation authorizes the issuance of up to 25,000,000 shares of common stock, $0.01 par value, 5,000,000 shares of
Class A preferred stock, $0.01 par value, and 2,000,000 shares of Class B preferred stock, $0.01 par value. Shares of preferred stock
with voting rights could be issued and would then represent an additional class of stock required to approve any proposed acquisition.
This preferred stock, together with authorized but unissued shares of our common stock, could represent additional capital required to
be purchased by an acquirer. Issuance of such additional shares may also dilute the voting interest of our stockholders.</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">Generally, the Company is authorized to issue preferred
stock from time to time in one or more series subject to applicable provisions of law, and the board of directors is authorized to fix
the designations, and relative preferences, limitations, voting rights, if any, including without limitation, offering rights of such
shares (which could be multiple or as a separate class). In the event of a proposed merger, tender offer or other attempt to gain control
of the Company that the board of directors does not approve, it may be possible for the board of directors to authorize the issuance of
a series of preferred stock with rights and preferences that would impede the completion of the transaction. An effect of the possible
issuance of preferred stock therefore may be to deter a future attempt to gain control of the Company.</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"><B><I>Directors.</I></B>&nbsp;The board of directors
is classified into three classes, one of which is elected each year for a three-year term. A director may be removed from office only
for cause. These provisions may make it more difficult to remove a director, and may make it more difficult for an acquirer to acquire
control of the company without negotiating with the board of directors, and may therefore have an anti-takeover effect.</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">Also, for so long as Endicott Opportunity Partners
IV, L.P. beneficially owns at least 220,825 shares of common stock of Metropolitan Bank Holding Corp., Endicott Opportunity Partners IV,
L.P. has&nbsp;the right to designate Wayne Goldstein, Rob Usdan or Michael Gibbons to be invited to all meetings of the board of directors
in a non-voting observer status, subject to such representative entering into a confidentiality agreement with Metropolitan Bank Holding
Corp. as well as such representative&rsquo;s attendance at any meeting being in compliance with Metropolitan Bank Holding Corp.&rsquo;s
board of directors&rsquo; legal, regulatory and/or fiduciary restrictions or limitations. In addition, Endicott Opportunity Partners IV,
L.P. has the right to relinquish the observer right by designating Wayne Goldstein or Robert Usdan to become a member of Metropolitan
Bank Holding Corp.&rsquo;s board of directors, subject to approval of Metropolitan Bank Holding Corp.&rsquo;s board of directors, which
approval will not be unreasonably withheld.</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"><B><I>Actions by stockholders.</I></B>&nbsp;Special
meetings of the stockholders may be called by the board of directors, the President or the Secretary and must be called by the President
or the Secretary upon receipt by either of them of the written request of the holders of at least 25% of all shares entitled to vote.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In general, our Certificate of Incorporation may
be amended in the manner prescribed under New York law. No proposed amendment or repeal of any provision of the Certificate of Incorporation
may be submitted to stockholders unless the board of directors has approved the proposed amendment or repeal. The amendment or repeal
of any provision of the Certificate of Incorporation must be approved by at least a majority vote.</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"><B><I>Limitation of director and officer liability;
indemnification</I></B>. As permitted by the NYBCL, our Certificate of Incorporation eliminates the liability of directors and officers
to Metropolitan Bank Holding Corp. or to its stockholders, except that the liability of a director or officer may not be eliminated if
the officer or director received a financial benefit or other advantage that he was not entitled to or if a judgment against the director
or officer is based on a finding that such person&rsquo;s action or failure to act was the result of bad faith, intentional misconduct
or a knowing violation of law.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Certificate of Incorporation provides that
Metropolitan Bank Holding Corp. must indemnify a director or officer who is or was a party to any proceeding by reason of the fact that
he is or was such a director or officer, except that no such indemnification may be made in the event and to the extent that (i) the act
or omission was material to the matter giving rise to the proceeding and was committed in bad faith or was the result of active and deliberate
dishonesty, or (ii) the director or officer actually received a financial benefit that he was not entitled to.</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"><B><I>Dissenters&rsquo; rights of appraisal.</I></B>&nbsp;The
NYBCL provides that, except in certain circumstances, a stockholder is not entitled to dissenter&rsquo;s rights in any transaction if
the stock is listed on a national securities exchange. Metropolitan Bank Holding Corp.&rsquo;s common stock is listed on the New York
Stock Exchange, a national securities exchange.</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"><B><I>Business combinations under NYBCL.</I></B>&nbsp;The
business combination provisions of Section 912 of the NYBCL could prohibit or delay mergers or other takeovers or change in control attempts
with respect to the Company and, accordingly, may discourage attempts to acquire the Company. In general such provisions prohibit an interested
stockholder (i.e., a person who owns 20% or more of our outstanding voting stock) from engaging in various business combination transactions
with our company, unless (a) the business combination transaction, or the transaction in which the interested stockholder became an interested
stockholder, was approved by the board of directors prior to the interested stockholder&rsquo;s stock acquisition date, (b) the business
combination transaction was approved by the disinterested stockholders at a meeting called no earlier than five years after the interested
stockholder&rsquo;s stock acquisition date, or (c) if the business combination transaction takes place no earlier than five years after
the interested stockholder&rsquo;s stock acquisition date, the price paid to all the stockholders under such transaction meets statutory
criteria.</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"><B><I>Bank Holding Company Act.</I></B>&nbsp;The
Bank Holding Company Act generally would prohibit any company that, together with its affiliates, is not solely engaged in activities
that are permissible for a bank holding company or a financial holding company from acquiring control of us. For these purposes, &ldquo;control&rdquo;
is generally defined as ownership, control or the ability to vote 25% or more of any class of voting stock of, control of the election
of a majority of the directors of or other exercise of a controlling influence over a bank holding company. In addition, any existing
bank holding company would need the prior approval of the Federal Reserve before acquiring 5% or more of our voting stock. The Change
in Bank Control Act of 1978, as amended, prohibits a person or group of persons from acquiring control of a bank holding company unless
the Federal Reserve has been notified and has not objected to the transaction. Under a rebuttable presumption established by regulations
of the Federal Reserve, the acquisition of 10% or more of a class of voting stock of a bank holding company with a class of securities
registered under Section 12 of the Exchange Act, such as us, is presumed to constitute acquisition of control of the bank holding company
for purposes of the Change in Bank Control Act of 1978.</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"><B><I>Benefit Plans.</I></B>&nbsp;In addition to
the provisions of the Company&rsquo;s Certificate of Incorporation and Bylaws described above, benefit plans of the Company that may authorize
the issuance of equity to its board of directors, officers and employees adopted may contain provisions which also may discourage hostile
takeover attempts which the board of directors of the Company might conclude are not in the best interests of the Company or its stockholders.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Computershare Trust Company, N.A., Canton, Massachusetts,
is the transfer agent and registrar for our common stock.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our common stock is listed on the New York Stock
Exchange under the symbol &ldquo;MCB.&rdquo;</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_009"></A>DESCRIPTION OF DEPOSITARY
SHARES</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary shares will be issued under deposit
agreements to be entered into between us and a bank or trust company, as depositary, all to be set forth in the applicable prospectus
supplement relating to any or all depositary shares in respect of which this prospectus is being delivered. We will file a copy of the
deposit agreement and the depositary receipt with the SEC each time we issue a series of depositary shares, and these depositary receipts
and deposit agreements will be incorporated by reference into the registration statement of which this prospectus forms a part.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If we elect to offer fractional interests in shares
of preferred stock, we will provide for the issuance by a depositary to the public of receipts for depositary shares. Each depositary
share will represent fractional interests of preferred stock. We will deposit the shares of preferred stock underlying the depositary
shares under a deposit agreement between us and a bank or trust company selected by us. The bank or trust company must have its principal
office in the United States and a combined capital and surplus of at least $50&nbsp;million. The depositary receipts will evidence the
depositary shares issued under the deposit agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The deposit agreement will contain terms applicable
to the holders of depositary shares in addition to the terms stated in the depositary receipts. Each owner of depositary shares will be
entitled to all the rights and preferences of the preferred stock underlying the depositary shares in proportion to the applicable fractional
interest in the underlying shares of preferred stock. The depositary will issue the depositary receipts to individuals purchasing the
fractional interests in shares of the related preferred stock according to the terms of the offering described in a prospectus supplement.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary will distribute all cash dividends
or other cash distributions received for the preferred stock to the entitled record holders of depositary shares in proportion to the
number of depositary shares that the holder owns on the relevant record date. The depositary will distribute only an amount that can be
distributed without attributing to any holder of depositary shares a fraction of one cent. The depositary will add the undistributed balance
to and treat it as part of the next sum received by the depositary for distribution to holders of depositary shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If there is a non-cash distribution, the depositary
will distribute property received by it to the entitled record holders of depositary shares, in proportion, insofar as possible, to the
number of depositary shares owned by the holders, unless the depositary determines, after consultation with us, that it is not feasible
to make such distribution. If this occurs, the depositary may, with our approval, sell such property and distribute the net proceeds from
the sale to the holders. The deposit agreement also will contain provisions relating to how any subscription or similar rights that we
may offer to holders of the preferred stock will be available to the holders of the depositary shares.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If any series of preferred stock underlying the
depositary shares may be converted or exchanged, each record holder of depositary receipts will have the right or obligation to convert
or exchange the depositary shares represented by the depositary receipts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Whenever we redeem shares of preferred stock held
by the depositary, the depositary will redeem, at the same time, the number of depositary shares representing the preferred stock. The
depositary will redeem the depositary shares from the proceeds it receives from the corresponding redemption, in whole or in part, of
the applicable series of preferred stock. The depositary will mail a notice of redemption to the record holders of the depositary shares
that are to be redeemed between 30 and 60 days before the date fixed for redemption. The redemption price per depositary share will be
equal to the applicable fraction of the redemption price per share on the applicable series of preferred stock. If less than all the depositary
shares are to be redeemed, the depositary will select which shares to be redeemed by lot, proportionate allocation or another method.</P>

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

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

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    <!-- Field: /Page -->

<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">After the date fixed for redemption, the depositary
shares called for redemption will no longer be outstanding. When the depositary shares are no longer outstanding, all rights of the holders
will end, except the right to receive money, securities or other property payable upon redemption.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">When the depositary receives notice of a meeting
at which the holders of the preferred stock are entitled to vote, the depositary will mail the particulars of the meeting to the record
holders of the depositary shares. Each record holder of depositary shares on the record date may instruct the depositary on how to vote
the shares of preferred stock underlying the holder&rsquo;s depositary shares. The depositary will try, if practical, to vote the number
of shares of preferred stock underlying the depositary shares according to the instructions. The depositary will abstain from voting shares
of the preferred stock to the extent it does not receive specific instructions from the holders of depositary shares representing such
preferred stock. We will agree to take all reasonable action requested by the depositary to enable it to vote as instructed.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Whenever (1)&nbsp;any cash dividend or other cash
distribution will become payable, any distribution other than cash will be made, or any rights, preferences or privileges will be offered
with respect to the preferred stock, or (2)&nbsp;the depositary receives notice of any meeting at which holders of preferred stock are
entitled to vote or of which holders of preferred stock are entitled to notice, or of the mandatory conversion of or any election on our
part to call for the redemption of any preferred stock, the depositary will in each such instance fix a record date (which will be the
same as the record date for the preferred stock) for the determination of the holders of depositary receipts (x)&nbsp;who will be entitled
to receive such dividend, distribution, rights, preferences or privileges or the net proceeds of the sale thereof or (y)&nbsp;who will
be entitled to give instructions for the exercise of voting rights at any such meeting or to receive notice of such meeting or of such
redemption or conversion, subject to the provisions of the deposit agreement.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We and the depositary may agree to amend the deposit
agreement and the depositary receipt evidencing the depositary shares. Any amendment that (1)&nbsp;imposes or increases certain fees,
taxes or other charges payable by the holders of the depositary shares as described in the deposit agreement or (2)&nbsp;otherwise prejudices
any substantial existing right of holders of depositary shares, will not take effect until 30 days after the depositary has mailed notice
of the amendment to the record holders of depositary shares. Any holder of depositary shares that continues to hold its shares at the
end of the 30-day period will be deemed to have agreed to the amendment.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may direct the depositary to terminate the deposit
agreement by mailing a notice of termination to holders of depositary shares at least 30 days before termination. In addition, a deposit
agreement will automatically terminate if:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the depositary has redeemed all related outstanding depositary shares, or</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">we have liquidated, terminated or wound up our
business and the depositary has distributed the preferred stock of the relevant series to the holders of the related depositary shares.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary may likewise terminate the deposit
agreement if at any time 60 days have expired after the depositary has delivered to us a written notice of its election to resign and
a successor depositary has not been appointed and accepted its appointment. If any depositary receipts remain outstanding after the date
of termination, the depositary thereafter will discontinue the transfer of depositary receipts, will suspend the distribution of dividends
to the holders thereof, and will not give any further notices (other than notice of such termination) or perform any further acts under
the deposit agreement except as provided below and except that the depositary will continue (1)&nbsp;to collect dividends on the preferred
stock and any other distributions with respect thereto and (2)&nbsp;to deliver the preferred stock together with such dividends and distributions
and the net proceeds of any sales of rights, preferences, privileges or other property, without liability for interest thereon, in exchange
for depositary receipts surrendered. At any time after the expiration of two years from the date of termination, the depositary may sell
the preferred stock then held by it at public or private sales, at such place or places and upon such terms as it deems proper and may
thereafter hold the net proceeds of any such sale, together with any money and other property then held by it, without liability for interest
thereon, for the pro rata benefit of the holders of depositary receipts that have not been surrendered.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Payment of Fees and Expenses</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will pay all fees, charges and expenses of the
depositary, including the initial deposit of the preferred stock and any redemption of the preferred stock. Holders of depositary shares
will pay transfer and other taxes and governmental charges and any other charges as are stated in the deposit agreement for their accounts.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At any time, the depositary may resign by delivering
notice to us, and we may remove the depositary. Resignations or removals will take effect upon the appointment of a successor depositary
and its acceptance of the appointment. The successor depositary must be appointed within 60 days after delivery of the notice of resignation
or removal and must be a bank or trust company having its principal office in the United States and having a combined capital and surplus
of at least $50&nbsp;million.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary will forward to the holders of depositary
shares all reports and communications from us that are delivered to the depositary and that we are required by law, the rules of an applicable
securities exchange or our amended and restated certificate of incorporation to furnish to the holders of the preferred stock. Neither
we nor the depositary will be liable if the depositary is prevented or delayed by law or any circumstances beyond its control in performing
its obligations under the deposit agreement. The deposit agreement limits our obligations and the depositary&rsquo;s obligations to performance
in good faith of the duties stated in the deposit agreement. Neither we nor the depositary will be obligated to prosecute or defend any
legal proceeding connected with any depositary shares or preferred stock unless the holders of depositary shares requesting us to do so
furnish us with satisfactory indemnity. In performing our obligations, we and the depositary may rely upon the written advice of our counsel
or accountants, on any information that competent people provide to us and on documents that we believe are genuine.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_010"></A>DESCRIPTION OF DEBT SECURITIES</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have summarized below general terms and conditions
of the debt securities that we will offer and sell pursuant to this prospectus. When we offer to sell a particular series of debt securities,
we will describe the specific terms and conditions of the series in a prospectus supplement to this prospectus. We will also indicate
in the applicable prospectus supplement whether the general terms and conditions described in this prospectus apply to the series of debt
securities. The terms and conditions of the debt securities of a series may be different in one or more respects from the terms and conditions
described below. If so, those differences will be described in the applicable prospectus supplement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will issue the debt securities in one or more
series under either a senior indenture or a subordinated indenture, in each case between us and a trustee as identified in the applicable
prospectus supplement. The following description of provisions of the indentures does not purport to be complete and is subject to, and
qualified in its entirety by reference to, the indentures, each of which has been filed with the SEC as an exhibit to the registration
statement of which this prospectus forms a part. A form of each debt security, any future supplemental indenture or similar document also
will be so filed. You should read the indentures and any supplemental indenture or similar document because they, and not this description,
define your rights as holder of our debt securities. All capitalized terms have the meanings specified in the indentures.</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">For purposes of this section of this prospectus,
references to &ldquo;we,&rdquo; &ldquo;us&rdquo; and &ldquo;our&rdquo; are to Metropolitan Bank Holding Corp. and not to any of its subsidiaries.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may issue, from time to time, debt securities,
in one or more series, that will consist of either senior debt (&ldquo;Senior Debt Securities&rdquo;) or subordinated debt (&ldquo;Subordinated
Debt Securities&rdquo;). Debt securities, whether senior or subordinated, may be issued as convertible debt securities or exchangeable
debt securities.</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">Neither indenture limits the amount of debt securities
that we may issue. We may, without the consent of the holders of the debt securities of any series, issue additional debt securities ranking
equally with, and otherwise similar in all respects to, the debt securities of the series (except for any differences in the issue price
and, if applicable, the initial interest accrual date and interest payment date) so that those additional debt securities will be consolidated
and form a single series with the debt securities of the series previously offered and sold; provided that if the additional debt securities
are not fungible with the debt securities of the series previously offered or sold for U.S. federal income tax purposes, the additional
debt securities will have a separate CUSIP or other identifying number.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The indentures provide that we may issue debt securities
up to the principal amount that we may authorize and may be in any currency or currency unit designated by us. Except for the limitations
on consolidation, merger and sale of all or substantially all of our assets contained in the indentures, the terms of the indentures do
not contain any covenants or other provisions designed to afford holders of any debt securities protection with respect to our operations,
financial condition or transactions involving us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may issue the debt securities issued under the
indentures as &ldquo;discount securities,&rdquo; which means they may be sold at a discount below their stated principal amount. These
debt securities, as well as other debt securities that are not issued at a discount, may, for U.S. federal income tax purposes, be treated
as if they were issued with &ldquo;original issue discount,&rdquo; because of interest payment and other characteristics. Special U.S.
federal income tax considerations applicable to debt securities issued with original issue discount will be described in more detail in
any applicable prospectus supplement.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The applicable prospectus supplement for a series
of debt securities that we issue will describe, among other things, the following terms of the offered debt securities:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the designation of the debt securities;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the price(s), expressed as a percentage of the principal amount, at which
we will sell the debt securities;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any limit on the aggregate principal amount of the debt securities;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the date(s) when principal payments are due on the debt securities;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the interest rate(s) on the debt securities, which may be fixed or variable,
per annum or otherwise, and the method used to determine the rate(s), the dates on which interest will begin to accrue and be payable,
and any regular record date for the interest payable on any interest payment date;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the currency or currencies of payment of principal or interest;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the place(s) where principal of, premium and
interest on the debt securities will be payable;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">provisions governing redemption of the debt securities, including any redemption
or purchase requirements pursuant to any sinking fund or analogous provisions or at the option of a holder of debt securities, and the
redemption price and other detailed terms and provisions of such repurchase obligations;</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the denominations in which the debt securities will be issued, if other than
minimum denominations of&nbsp;$1,000 and any integral multiple in excess thereof;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">whether the debt securities will be issued in
the form of certificated debt securities or global debt securities;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the portion of the principal of the debt securities
payable upon declaration of acceleration of the maturity date, if other than the entire principal amount;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any additional or modified events of default from those described in this
prospectus or in the indenture and any change in the acceleration provisions described in this prospectus or in the indenture;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">any additional or modified covenants from those
described in this prospectus or in the indenture with respect to the debt securities; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any depositaries, interest rate calculation agents, exchange rate calculation
agents or other agents with respect to the debt securities.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The applicable prospectus supplement will set forth
certain U.S. federal income tax considerations for holders of any debt securities and the securities exchange or quotation system on which
any debt securities are listed or quoted, if any.</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">Debt securities issued by us will be structurally
subordinated to all indebtedness and other liabilities of our subsidiaries, except to the extent any such subsidiary guarantees or is
otherwise obligated to make payment on such debt securities.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Payment of the principal of, and premium, if any,
and interest on, Senior Debt Securities will rank on a parity with all of our other unsecured and unsubordinated debt. Senior Debt Securities
will be issued under the senior debt indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Payment of the principal of, and premium, if any,
and interest on, Subordinated Debt Securities will be subordinated and junior in right of payment to the prior payment in full of all
of our unsubordinated debt. We will set forth in the applicable prospectus supplement relating to any Subordinated Debt Securities the
subordination terms of such securities as well as the aggregate amount of outstanding indebtedness, as of the most recent practicable
date, that by its terms would be senior to the Subordinated Debt Securities. We will also set forth in such prospectus supplement limitations,
if any, on issuance of additional debt ranking senior to the Subordinated Debt Securities. Subordinated Debt Securities will be issued
under the subordinated debt indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Debt securities may be convertible into or exchangeable
for other securities or property of ours. The terms and conditions of conversion or exchange will be set forth in the applicable prospectus
supplement. The terms will include, among others, the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the conversion or exchange price;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the conversion or exchange period;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">provisions regarding our ability or the ability of the holder to convert
or exchange the debt securities;</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">events requiring adjustment to the conversion or exchange price; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">provisions affecting conversion or exchange in the event of our redemption
of the debt securities.</FONT></TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The indentures provide that we may not consolidate
with or merge with or into, or sell or convey all or substantially all of our assets to any person, firm or corporation, unless:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">we are the surviving corporation or the successor corporation (if not us)
is a corporation organized and validly existing under the laws of any United States domestic jurisdiction and expressly assumes, by a
supplemental indenture, our obligations on the debt securities and under such indenture;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">immediately after giving effect to such transaction, we, or the successor
corporation, are not in default in the performance of any covenant or condition under the indenture; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">we have complied with our obligations to deliver certain documentation to
the applicable trustee, including an officers&rsquo; certificate and opinion of counsel each stating that such proposed transaction and
any supplemental indenture comply with such indenture.</FONT></TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For any series of debt securities, in addition
to any event of default described in the prospectus supplement applicable to that series, an event of default will include the following
events:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">default in the payment when due of principal of any debt security of that
series; </FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">default in the payment when due of any sinking or analogous fund payment
in respect of any debt security of that series;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">default in the payment when due of any interest on any debt securities of
that series, and continuance of such default for a period of 90 days (unless we deposit the entire amount of such payment with the trustee
or with a paying agent prior to the expiration of a 30-day period);</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">default in the performance or breach of any other covenant or agreement in
the indenture that applies to such series, which default continues for a period of 90 days after we have received written notice of the
failure to perform in the manner specified in the indenture;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">certain events of bankruptcy, insolvency or reorganization involving us or
our material subsidiaries; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any other event of default provided in the applicable resolution of our board
of directors or the officers&rsquo; certificate or supplemental indenture under which we issue such series of debt securities.</FONT></TD></TR></TABLE>

<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">An event of default for a particular series of
debt securities does not necessarily constitute an event of default for any other series of debt securities issued under the indentures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If an event of default with respect to any outstanding
debt securities occurs and is continuing, then the trustee or the holders of at least 25% in aggregate principal amount of the outstanding
debt securities of that series may, by written notice to us (and to the trustee if given by the holders), accelerate the payment of the
principal (or, if the debt securities of that series are discount securities, that portion of the principal amount as may be specified
in the terms of that series) of  all debt securities of that series. Following acceleration, payments on our subordinated debt securities,
if any, will be subject to the subordination provisions described above under &ldquo;Subordinated Debt Securities.&rdquo; At any time
after acceleration with respect to debt securities of any series, but before the trustee has obtained a court judgment or decree for payment
of the amounts due, the holders of a majority in principal amount of the outstanding debt securities of that series may rescind and annul
the acceleration of all events of default. The prospectus supplement relating to any series of debt securities that are discount securities
will contain particular provisions relating to acceleration of a portion of the principal amount of such discount securities upon the
occurrence of an event of default.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The indentures provide that the trustee will be
under no obligation to exercise any rights or powers under such indenture at the request of any holder of outstanding debt securities
unless the trustee is indemnified against any costs, liability or expense.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to certain rights of the trustee, the holders
of a majority in principal amount of the outstanding debt securities of any series will have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the trustee or exercising any trust or power conferred on the trustee with
respect to the debt securities of that series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No holder of any debt security may institute any
proceeding, judicial or otherwise, with respect to the indenture or for the appointment of a receiver or trustee, or for any remedy under
the indenture, unless:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">such holder has previously given written notice
to the trustee of a continuing event of default with respect to the debt securities of that series;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the holders of not less than 25% in aggregate principal amount of the outstanding
debt securities of that series have made written request to the trustee to institute proceedings in respect of such event of default in
its own name as trustee under the indenture;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">such holder or holders have offered to the trustee indemnity against the
costs, expenses and liabilities to be incurred in complying with such request;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the trustee for 60 days after its receipt of such notice, request, and offer
of indemnity has failed to institute any such proceeding; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">no direction inconsistent with such written request has been given to the
trustee during such 60-day period by the holders of a majority in aggregate principal amount of the outstanding debt securities of that
series.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the foregoing, the holder of any
debt security will have an absolute and unconditional right to receive payment of the principal of, premium and any interest on that debt
security on or after the due dates expressed in that debt security and to institute suit for the enforcement of payment.</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">Under the indentures, we must furnish the trustee
a statement as to compliance with such indenture within 120 days after the end of our fiscal year (beginning with the fiscal year ending
immediately following the execution of such indenture). The indentures provide that, other than with respect to payment defaults, the trustee
may withhold notice to the holders of debt securities of any series of a default or event of default if it in good faith determines that
withholding notice is in the interests of the holders of those debt securities.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may issue the debt securities of a series in
whole or in part in the form of one or more fully registered global securities that we will deposit with a depositary or with a nominee
for a depositary identified in the applicable prospectus supplement and registered in the name of such depositary or nominee. In such
case, we will issue one or more registered global securities denominated in an amount equal to the aggregate principal amount of all of
the debt securities of the series to be issued and represented by such registered global security or securities.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless and until it is exchanged in whole or in
part for debt securities in definitive registered form, a registered global security may not be transferred except as a whole:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">by the depositary for such registered global security to its nominee,</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">by a nominee of the depositary to the depositary
or another nominee of the depositary, or</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">by the depositary or its nominee to a successor
of the depositary or a nominee of the successor.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The prospectus supplement relating to a series
of debt securities will describe the specific terms of the depositary arrangement with respect to any portion of such series represented
by a registered global security. We anticipate that the following provisions will apply to all depositary arrangements for debt securities:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">ownership of beneficial interests in a registered global security will be
limited to persons that have accounts with the depositary for the registered global security, those persons being referred to as &ldquo;participants,&rdquo;
or persons that may hold interests through participants;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">upon the issuance of a registered global security, the depositary for the
registered global security will credit, on its book-entry registration and transfer system, the participants&rsquo; accounts with the
respective principal amounts of the debt securities represented by the registered global security beneficially owned by the participants;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any dealers, underwriters, or agents participating in the distribution of
the debt securities will designate the accounts to be credited; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">ownership of any beneficial interest in the
registered global security will be shown on, and the transfer of any ownership interest will be effected only through, records maintained
by the depositary for the registered global security (with respect to interests of participants) and on the records of participants (with
respect to interests of persons holding through participants).</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The laws of some states may require that certain
purchasers of securities take physical delivery of the securities in definitive form. These laws may limit the ability of those persons
to own, transfer or pledge beneficial interests in registered global securities.</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">So long as the depositary for a registered global
security, or its nominee, is the registered owner of the registered global security, the depositary or the nominee, as the case may be,
will be considered the sole owner or holder of the debt securities represented by the registered global security for all purposes under
the indenture.</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">Except as set forth below, owners of beneficial
interests in a registered global security:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">will not be entitled to have the debt securities represented by a registered
global security registered in their names;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">will not receive or be entitled to receive physical
delivery of the debt securities in the definitive form; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">will not be considered the owners or holders of the debt securities under
the indenture.</FONT></TD></TR></TABLE>

<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">Accordingly, each person owning a beneficial interest
in a registered global security must rely on the procedures of the depositary for the registered global security and, if the person is
not a participant, on the procedures of a participant through which the person owns its interest, to exercise any rights of a holder under
the indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We understand that under existing industry practices,
if we request any action of holders or if an owner of a beneficial interest in a registered global security desires to give or take any
action that a holder is entitled to give or take under the indenture, the depositary for the registered global security would authorize
the participants holding the relevant beneficial interests to give or take the action, and those participants would authorize beneficial
owners owning through those participants to give or take the action or would otherwise act upon the instructions of beneficial owners
holding through them.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will make payments of principal and premium,
if any, and interest, if any, on debt securities represented by a registered global security registered in the name of a depositary or
its nominee to the depositary or its nominee, as the case may be, as the registered owners of the registered global security. None of
us, the trustee or any other agent of us or the trustee will be responsible or liable for any aspect of the records relating to, or payments
made on account of, beneficial ownership interests in the registered global security or for maintaining, supervising or reviewing any
records relating to the beneficial ownership interests.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We expect that the depositary for any debt securities
represented by a registered global security, upon receipt of any payments of principal and premium, if any, and interest, if any, in respect
of the registered global security, will immediately credit participants&rsquo; accounts with payments in amounts proportionate to their
respective beneficial interests in the registered global security as shown on the records of the depositary. We also expect that standing
customer instructions and customary practices will govern payments by participants to owners of beneficial interests in the registered
global security held through the participants, as is now the case with the securities held for the accounts of customers in bearer form
or registered in &ldquo;street name.&rdquo; We also expect that any of these payments will be the responsibility of the participants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the depositary for any debt securities represented
by a registered global security is at any time unwilling or unable to continue as depositary or ceases to be a clearing agency registered
under the Exchange Act, we will appoint an eligible successor depositary. If we fail to appoint an eligible successor depositary, we will
issue the debt securities in definitive form in exchange for the registered global security. In addition, we may at any time and in our
sole discretion decide not to have any of the debt securities of a series represented by one or more registered global securities. In
such event, we will issue debt securities of that series in a definitive form in exchange for all of the registered global securities
representing the debt securities. The trustee will register any debt securities issued in definitive form in exchange for a registered
global security in such name or names as the depositary, based upon instructions from its participants, instructed to the trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Defeasance of Debt Securities and Certain Covenants in Certain Circumstances</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may deposit with the trustee, in trust, cash
or U.S. government securities in an amount that, through the payment of interest and principal in accordance with their terms, will provide,
not later than one day before the due date of any payment of money, an amount in cash that is sufficient to make all payments of principal
and interest on, and any mandatory sinking fund payments in respect of, the debt securities of that series on the due dates for such payments
in accordance with the terms of the indenture and those debt securities. If we make such a deposit, unless otherwise provided under the
applicable series of debt securities, we will be discharged from any and all obligations in respect of the debt securities of such series
(except for obligations relating to the transfer or exchange of debt securities and the replacement of stolen, lost or mutilated debt
securities and relating to maintaining paying agencies and the treatment of funds held by paying agents and certain rights of the trustee
and our obligations with respect thereto). However, this discharge may occur only if, among other things, we have delivered to the trustee
a legal opinion stating that we have received from, or there has been published by, the U.S. Internal Revenue Service a ruling or, since
the date of execution of the indenture, there has been a change in the applicable U.S. federal income tax law, in either case to the effect
that, and, based thereon confirming that, the holders of the debt securities of that series will not recognize income, gain or loss for
U.S. federal income tax purposes as a result of such defeasance and will be subject to U.S. federal income tax on the same amounts and
in the same manner and at the same times as would have been the case if such defeasance had not occurred.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Defeasance of Certain Covenants</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the indentures (and unless otherwise provided
by the terms of the applicable series of debt securities), upon making the deposit and delivering the legal opinion described in &ldquo;Legal
Defeasance&rdquo; above, we will not need to comply with certain covenants set forth in the indentures, as well as any additional covenants
that may be set forth in the applicable prospectus supplement, and any such noncompliance will not constitute a default or an event of
default with respect to the debt securities of that series, or covenant defeasance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Covenant Defeasance and Events of Default</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If we exercise our option to effect covenant defeasance
with respect to any series of debt securities and the debt securities of that series are declared due and payable because of the occurrence
of any event of default, the amounts on deposit with the trustee will be sufficient to pay amounts due on the debt securities of that
series at the time of their stated maturity but may not be sufficient to pay amounts due on the debt securities of that series at the
time of the acceleration resulting from the event of default. We will remain liable for those payments.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may discharge our obligations under either indenture
and the debt securities of a series (except for certain surviving rights of the trustee and our obligations in connection therewith) if:
(a)&nbsp;all outstanding debt securities of that series and all other outstanding debt securities issued under such indenture (i)&nbsp;have
been delivered for cancellation, or (ii)&nbsp;(1) have become due and payable, (2)&nbsp;will become due and payable at their stated maturity
within one year or (3)&nbsp;are to be called for redemption within one year under arrangements satisfactory to the trustee for the giving
of notice and redemption by the trustee (and in the case of clauses (1), (2) and (3), we have deposited with the trustee an amount sufficient
to pay and discharge the principal of (and premium, if any), and interest on all outstanding debt securities and any other sums due on
the stated maturity date or redemption date, as the case may be); (b) we have paid all other sums payable by us under such indenture;
and (c)&nbsp;we have delivered an officers&rsquo; certificate and opinion of counsel confirming compliance with all conditions precedent
relating to the satisfaction and discharge of the indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each indenture provides that we and the trustee
may enter into supplemental indentures without the consent of the holders of debt securities:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to evidence the succession of a corporation to the Company, or successive
successors, as obligor under the indenture and the assumption by any such successor of the covenants, agreements and obligations of the
Company in the indenture and in the debt securities;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to add to the covenants of the Company such further covenants, restrictions,
conditions or provisions as its board of directors consider to be for the protection of the holders of the debt securities and to make
the occurrence, or the occurrence and continuance, of a default in any of such additional covenants, restrictions, conditions or provisions
an event of default permitting the enforcement of all or any of the several remedies provided in the indenture, with such period of grace,
if any, and subject to such conditions as such supplemental indenture may provide;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to establish any series of debt securities and the form or terms of the debt
securities of a series, including, without limitation, subordination provisions and any conversion or exchange provisions applicable to
the debt securities that are convertible into or exchangeable for other securities or property and any deletions from or additions or
changes to the indenture in connection therewith;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to add any additional events of default with respect to all or any series
of debt securities;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to supplement any of the provisions of the indenture to such extent as will
be necessary to permit or facilitate the defeasance, covenant defeasance and/or satisfaction and discharge of any series of outstanding
debt securities, provided that any such action will not adversely affect the interests of any holder of an outstanding debt security of
such series or any other security in any material respect;</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to add or change any of the provisions of the indenture to such extent as
is necessary to permit or facilitate the issuance of debt securities, registrable or not registrable as to principal;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to add or change provisions with respect to conversion or exchange rights
of holders of debt securities of any series;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">in the case of any series of debt securities that are convertible into or
exchangeable for commodities or for the securities of the Company, to safeguard or provide for the conversion or exchange rights, as the
case may be, of such debt securities in the event of any reclassification or change of outstanding securities or any merger, consolidation,
statutory share exchange or combination of the Company with or into another person or any sale, lease, assignment, transfer, disposition
or other conveyance of all or substantially all of the properties and assets of the Company to any other person or other similar transactions,
if expressly required by the terms of such series of debt securities;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to add to, delete from or revise the conditions, limitations or restrictions
on issue, authentication and delivery of debt securities of any series;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to modify, eliminate or add to the provisions of the indenture to such extent
as is necessary to effect the qualification of the indenture under the Trust Indenture Act of 1939, or under any similar federal statute
hereafter enacted, and to add to the indenture such other provisions as may be expressly permitted by the Trust Indenture Act of 1939,
excluding certain provisions thereof; </FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to modify, eliminate or add to the provisions of the indenture, if the change
or elimination (i)&nbsp;becomes effective only when there are no debt securities outstanding of any series created prior to execution
of such supplemental indenture that is entitled to the benefit of such provision or (ii)&nbsp;will not apply to the any debt securities
outstanding at the time of such change or elimination;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to conform the indenture or the debt securities to the description thereof
in the related prospectus, offering memorandum or disclosure document (as provided in an officers&rsquo; certificate delivered to the
trustee);</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to cure any ambiguity or to correct or supplement any provision in the indenture
or in any supplemental indenture that may be defective or inconsistent with any other provision contained in the indenture or supplemental
indenture;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to add guarantees with respect to, or to secure, any series of debt security;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to evidence and provide for the acceptance and appointment by a successor
trustee or facilitate the administration of the trust under the indenture by more than one trustee; or</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to make any change that does not adversely affect the rights of any holder
of debt securities of any series issued under the indenture.</FONT></TD></TR></TABLE>

<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">Each indenture also provides that we and the trustee
may, with the consent of the holders of not less than a majority in aggregate principal amount of the outstanding debt securities of all
series of Senior Debt Securities or Subordinated Securities, as the case may be, then outstanding and affected thereby (voting as one
class), add any provisions to, or change in any manner, eliminate in any way the provisions of, the indenture or supplemental indenture
or modify in any manner the rights of the holders of the debt securities. We and the trustee may not, however, without the consent of
the holder of each outstanding debt security affected thereby:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">extend the fixed maturities of any outstanding debt securities or reduce
the principal amount or premium, if any, or reduce the rate or extend the time of payment of interest;</FONT></TD></TR></TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">reduce the percentage in aggregate principal amount of the outstanding debt
securities, the consent of whose holders is required to amend or supplement the indenture or any supplemental indenture;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">modify the subordination provisions in a manner
adverse to the holders of such debt securities; or</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">make any change to provisions of the indenture to remove any of the limitations
in this paragraph upon us or the trustee.</FONT></TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The indentures limit the right of the trustee,
should it become a creditor of ours, to obtain payment of claims or secure its claims. The trustee is permitted to engage in certain other
transactions. However, if the trustee acquires any conflicting interest, and there is a default under the debt securities of any series
for which it is trustee, the trustee must eliminate the conflict or resign.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>No Individual Liability of Directors, Officers, Employees or Stockholders</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The indentures provide that none of our directors,
officers, employees or stockholders will have any liability for any of our obligations under the debt securities or the indentures or
for any claim based on, in respect of or by reason of such obligations or their creation. Each holder of debt securities by accepting
a debt security waives and releases all such liability. The waiver and release will be part of the consideration for the issue of the
debt securities.</P>

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_011"></A>DESCRIPTION OF WARRANTS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may issue warrants for the purchase of debt
securities, preferred stock, common stock, other securities of the Company or any combination of the foregoing. Warrants may be issued
alone or together with securities offered by any prospectus supplement and may be attached to, or separate from, those securities. The
particular terms of any warrants will be described more specifically in the prospectus supplement relating to such warrants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The prospectus supplement relating to any warrants
that we are offering will include specific terms relating to the offering. We will file the form&nbsp;of any warrant agreement with the
SEC, and you should read the warrant agreement for provisions that may be important to you. The prospectus supplement will include some
or all of the following information:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the title and specific designation of the warrants;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the aggregate number of warrants offered;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the amount of warrants outstanding, if any;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the designation, number and terms of the securities purchasable upon exercise of the warrants and procedures that will result in the
adjustment of those numbers;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the exercise price or prices of the warrants;</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the dates or periods during which the warrants are exercisable;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the designation and terms of any securities with which the warrants are issued;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>if the warrants are issued as a unit with another security, the date, if any, on and after which the warrants and the other security
will be separately transferable;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>if the exercise price is not payable in U.S. Dollars, the foreign currency, currency unit or composite currency in which the exercise
price is denominated;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>any minimum or maximum amount of warrants that may be exercised at any one time;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the anti-dilution provisions of the warrants, if any;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>if applicable, the identity of the warrant agent for the warrants and of any other depositaries, execution or paying agents, transfer
agents, registrars or other agents;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>any terms, procedures and limitations relating to the transferability, exchange or exercise of the warrants; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>any other material terms of the warrants.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Before exercising their warrants, holders of warrants
will not have any of the rights of holders of the securities purchasable upon such exercise, including the right to receive dividends,
if any, or payments upon our liquidation, dissolution or winding-up, or to exercise voting rights, if any.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_012"></A>DESCRIPTION OF SUBSCRIPTION
RIGHTS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following is a summary of the general terms
of the subscription rights to purchase common stock or other securities that we may offer to stockholders using this prospectus. This
summary does not purport to be complete in all respects and is subject to and qualified entirely by reference to the applicable forms
of subscription agent agreement and subscription certificate for a full description of all terms of any series of subscription rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subscription rights may be issued independently
or together with any other security and may or may not be transferable. As part of any subscription rights offering, we may enter into
a standby underwriting or other arrangement under which the underwriters or any other person would purchase any securities that are not
purchased in such subscription rights offering. If we issue subscription rights, they will be governed by a separate subscription agent
agreement that we will sign with a bank or trust company to be named in the applicable prospectus supplement that will serve as rights
agent. The rights agent will act solely as our agent and will not assume any obligation to any holders of subscription rights certificates
or beneficial owners of subscription rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The prospectus supplement relating to any subscription
rights that we offer will describe the specific terms of the offering and the subscription rights, including the record date for stockholders
entitled to the subscription rights distribution, the number of subscription rights issued and the number of shares of common stock or
other securities that may be purchased upon exercise of the subscription rights, the exercise price of the subscription rights, the date
on which the subscription rights will become effective and the date on which the subscription rights will expire, and any material U.S.
federal income tax considerations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In general, a subscription right entitles the holder
to purchase for cash a specific number of shares of common stock or other securities at a specified exercise price. The rights are normally
issued to stockholders as of a specific record date, may be exercised only for a limited period of time and become void following the
expiration of such period. If we determine to issue subscription rights, we will accompany this prospectus with a prospectus supplement
that will describe, among other things:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the record date for stockholders entitled to receive the subscription rights;</TD></TR></TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the number of shares of common stock or other securities that may be purchased upon exercise of each subscription right;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the exercise price of the subscription rights;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>whether the subscription rights are transferable;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the period during which the subscription rights may be exercised and when they will expire;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the steps required to exercise the subscription rights;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>whether the subscription rights include &ldquo;oversubscription rights&rdquo; so that the holder may purchase more securities if other
holders do not purchase their full allotments; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>whether we intend to sell the shares of common stock or other securities that are not purchased in the rights offering to an underwriter
or other purchaser under a contractual &ldquo;standby&rdquo; commitment or other arrangement.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If fewer than all of the subscription rights issued
in any rights offering are exercised, then we may offer any unsubscribed securities directly to persons other than stockholders, to or
through agents, underwriters or dealers or through a combination of such methods, including pursuant to standby arrangements, as described
in the applicable prospectus supplement. After the close of business on the expiration date of a subscription rights offering, all unexercised
subscription rights will become void.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_013"></A>PLAN OF DISTRIBUTION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may sell common stock, preferred stock, depositary
shares, debt securities, warrants or subscription rights in one or more of the following ways from time to time:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to or through underwriters or dealers;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">directly to one or more purchasers;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">through agents or dealers; or</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">through a combination of any of these methods of sale.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The prospectus supplements relating to an offering
of offered securities will set forth the terms of such offering, including:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the name or names of any underwriters, dealers or agents;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the purchase price of the offered securities and the proceeds to us from
the sale;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any underwriting discounts and commissions or agency fees and other items
constituting underwriters&rsquo; or agents&rsquo; compensation; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any initial public offering price, any discounts or concessions allowed or
reallowed or paid to dealers and any securities exchanges on which such offered securities may be listed.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any initial public offering prices, discounts or
concessions allowed or reallowed or paid to dealers may be changed from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If underwriters are used in the sale, the underwriters
will acquire the offered securities for their own account and may resell them from time to time in one or more transactions, including
negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale. The offered securities
may be offered either to the public through underwriting syndicates represented by one or more managing underwriters or by one or more
underwriters without a syndicate. Unless otherwise set forth in a prospectus supplement, the obligations of the underwriters to purchase
any series of securities will be subject to certain conditions precedent, and the underwriters will be obligated to purchase all of such
series of securities if any are purchased.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with underwritten offerings of the
offered securities and in accordance with applicable law and industry practice, underwriters may over-allot or effect transactions that
stabilize, maintain or otherwise affect the market price of the offered securities at levels above those that might otherwise prevail
in the open market, including by entering stabilizing bids, effecting syndicate covering transactions or imposing penalty bids, each of
which is described below.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">A stabilizing bid means the placing of any bid, or the effecting of any purchase,
for the purpose of pegging, fixing or maintaining the price of a security.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">A syndicate covering transaction means the placing of any bid on behalf of
the underwriting syndicate or the effecting of any purchase to reduce a short position created in connection with the offering.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">A penalty bid means an arrangement that permits the managing underwriter
to reclaim a selling concession from a syndicate member in connection with the offering when offered securities originally sold by the
syndicate member are purchased in syndicate covering transactions.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">These transactions may be effected on the New York
Stock Exchange, in the over-the-counter market, or otherwise. Underwriters are not required to engage in any of these activities, or to
continue such activities if commenced.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If a dealer is used in the sale, we will sell such
offered securities to the dealer, as principal. The dealer may then resell the offered securities to the public at varying prices to be
determined by that dealer at the time for resale. The names of the dealers and the terms of the transaction will be set forth in the prospectus
supplement relating to that transaction.</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">Offered securities may be sold directly by us to
one or more institutional purchasers, or through agents designated by us from time to time, at a fixed price or prices, which may be changed,
or at varying prices determined at the time of sale. Any agent involved in the offer or sale of the offered securities in respect of which
this prospectus is delivered will be named, and any commissions payable by us to such agent will be set forth, in the prospectus supplement
relating to that offering. Unless otherwise indicated in such prospectus supplement, any such agent will be acting on a best efforts basis
for the period of its appointment.</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">Underwriters, dealers and agents may be entitled
under agreements entered into with us to indemnification by us against certain civil liabilities, including liabilities under the Securities
Act, or to contribution with respect to payments that the underwriters, dealers or agents may be required to make in respect thereof.
Underwriters, dealers and agents may be customers of, engage in transactions with, or perform services for us and our affiliates in the
ordinary course of business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Other than our common stock, which is listed on
the New York Stock Exchange, each of the securities issued hereunder will be a new issue of securities, will have no prior trading market,
and may or may not be listed on a national securities exchange. Any common stock sold pursuant to a prospectus supplement will be listed
on the New York Stock Exchange, subject to official notice of issuance. Any underwriters to whom we sell securities for public offering
and sale may make a market in the securities, but such underwriters will not be obligated to do so and may discontinue any market making
at any time without notice. We cannot assure you that there will be a market for the offered securities.</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_014"></A>LEGAL MATTERS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The validity of the securities being offered hereby
is being passed upon for us by Luse Gorman, PC, Washington, DC. Any underwriters will also be advised about the validity of the securities
and other legal matters by their own counsel, which will be named in the applicable prospectus supplement.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_015"></A>EXPERTS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The consolidated financial statements of Metropolitan
Bank Holding Corp. as of December&nbsp;31, 2020 and 2019, and for each of the two years in the period ended December&nbsp;31, 2020, have
been audited by Crowe LLP, an independent registered public accounting firm, as set forth in their report appearing in our Annual Report
on Form&nbsp;10-K&nbsp;for the year ended December&nbsp;31, 2020, and incorporated in this prospectus by reference. Such consolidated
financial statements have been so incorporated in reliance upon the report of such firm given upon their authority as experts in accounting
and auditing.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ITEM&nbsp;14.</B></FONT></TD>
    <TD STYLE="width: 90%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Other Expenses of Issuance and Distributions.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth the expenses to
be borne by Metropolitan Bank Holding Corp. (&ldquo;Metropolitan&rdquo;) in connection with the offerings described in this Registration
Statement.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 84%; text-align: left">Registration fee&mdash;Securities and Exchange Commission</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Printing and engraving expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Legal fees and expenses (other than Blue Sky)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounting fees and expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Blue Sky fees and expenses (including fees of counsel)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Rating agency fees</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Trustee&rsquo;s and registrar&rsquo;s fees and expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Miscellaneous</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Total</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><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"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">*</TD><TD>In accordance with Rule 456(b) and Rule 457(r) under the Securities Act, the registrant is deferring payment of the registration fee
associated with this registration statement. The registration fee will be paid at the time of any offering of securities under this registration
statement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">**</TD><TD>Because an indeterminate amount of securities is covered by this registration statement, the expenses incurred in connection with
the issuance and distribution of such securities are not currently determinable. The estimate of such expenses incurred in connection
with securities to be offered and sold pursuant to this registration statement will be included in the applicable prospectus supplement.</TD></TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ITEM&nbsp;15.</B></FONT></TD>
    <TD STYLE="width: 90%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Indemnification of Directors and Officers.</B></FONT></TD></TR>
  </TABLE>
<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">Reference is made to Sections 721 to 725 of the
New York Business Corporation Law (&ldquo;NYBCL&rdquo;) that provide for indemnification of directors and officers, subject to certain
limitations, for liabilities and expenses in connection with actions or proceedings involving them in such capacity. Pursuant to Section
721 of the NYBCL, no indemnification shall be made to or on behalf of a director or officer if a judgment or other final adjudication
adverse to the director or officer establishes that his or her acts were committed in bad faith or were the results of active and deliberate
dishonesty and were material to the cause of action so adjudicated, or that he or she personally gained in fact a financial profit or
other advantage to which he or she was not legally entitled. Section 402(b) of the NYBCL permits a certificate of incorporation to set
forth a provision limiting or eliminating the personal liability of directors to a corporation or its shareholders for damages for any
breach of duty in such capacity, provided that no such provision shall eliminate or limit the liability of a director (i) if a judgment
or other final adjudication adverse to him or her establishes that his or her acts were in bad faith or involved intentional misconduct
or a knowing violation of law or (ii) that he or she personally gained in fact a financial profit or other advantage to which he or she
was not legally entitled, or (iii) in certain other cases specified in Section 719 of the NYBCL.</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">Articles Sixth and Seventh of the Amended and Restated
Certificate of Incorporation of Metropolitan Bank Holding Corp. (the &ldquo;Corporation&rdquo;) set forth circumstances under which directors,
officers, employees and agents of the Corporation may be insured or indemnified against liability that they incur in their capacities
as such:</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">SIXTH: No director of the Corporation shall have
any personal liability to the Corporation or its shareholders for damage resulting from any breach of such director&rsquo;s duties as
a director of the Corporation, provided that this provision shall not eliminate or limit the liability of any director if a judgment or
other final adjudication adverse to him establishes that his acts or omissions were in bad faith or involved intentional misconduct or
a knowing violation of law or that he personally gained in fact a financial profit or other advantage to which he was not legally entitled
or that his acts violated Section 719 of the NYBCL.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">SEVENTH:
The Corporation shall indemnify any present or former officer or director of the Corporation or the personal representatives thereof,
made or threatened to be made a party in any civil or criminal action or proceeding by reason of the fact that</FONT> he, his testator
or intestate is or was a director or officer of the Corporation, or served any other corporation, partnership, joint venture, trust, employee
benefit plan, or other enterprise in any capacity at the request of the Corporation, against judgments, fines (including excise tax assessed
on such a person in connection with service to an employee benefit plan), amounts paid in settlement and reasonable expenses, including
without limitation, court costs, attorneys&rsquo; fees and disbursements and those of accountants and other experts and consultants incurred
as a result of such action or proceeding or any appeal therein, all of which expenses as incurred shall be advanced by the Corporation
pending the final disposition of such action or proceeding. Such required indemnification shall be subject only to the exception that
no indemnification may be made to or on behalf of any director or officer in the event and to the extent that a judgment or other final
adjudication adverse to the director or officer establishes that his acts were committed in bad faith or were the result of active and
deliberate dishonesty and were material to the cause of action so adjudicated, or that he personally gained in fact a financial profit
or other advantage to which he was not legally entitled (provided, however, that indemnification shall be made upon any successful appeal
of any such adverse judgment or final adjudication). For purposes of this article, the Corporation shall be deemed to have requested such
present or former officer or director to serve an employee benefit plan where the performance by such person of his duties to the Corporation
also imposes duties on, or otherwise involves services by, such person to the plan or participants or beneficiaries of the plan. The foregoing
right of indemnification shall not be deemed exclusive of any and other rights to which any such person, his testator or intestate, may
be entitled apart from this provision.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Article IX of the Amended and Restated Bylaws of
the Corporation set forth circumstances under which directors or officers of the Corporation may be insured or indemnified against liability
that they incur in their capacities as such:</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">Section 1. <U>Indemnification</U>. Any person who
at any time shall serve or shall have served as a director or officer of the Corporation, including any such director or officer who,
at the request of the Corporation, shall serve or shall have served any other Corporation, association, partnership, limited liability
company, joint venture, trust, employee benefit plan or other enterprise as a director, trustee, officer, employee, or in any other capacity,
and the heirs, executors and administrators of such person, shall be indemnified by the Corporation in accordance with and to the fullest
extent permitted by New York law, including the Business Corporation Law of the State of New York, as the same exists or may hereafter
be amended. This right of indemnification shall include the right of a director or officer to receive payment from the Corporation for
expenses incurred in defending or appealing any such action or proceeding in advance of its final disposition; provided that the payment
of expenses in advance of the final disposition of an action or proceeding shall be made only upon delivery to the Corporation of an undertaking
by or on behalf of the director or officer to repay all amounts so advanced if it should be determined ultimately that the director or
officer is not entitled to be indemnified. The foregoing rights of indemnification, reimbursement and advancement shall not be exclusive
of other rights to which such person may be entitled.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 2. <U>Contract with the Corporation</U>.
The provisions of this Article shall be deemed to be a contract between the Corporation and each director and officer of the Corporation
who serves in any such capacity at any time while this Article and the relevant provisions of New York law, as the same exists or may
hereafter be amended, may be in existence; and any amendment of any such law or of this Article shall not affect any rights or obligations
then existing with respect to any state of facts then or theretofore existing or any action, suit or proceeding theretofore or thereafter
brought or threatened based in whole or in part upon any such state of facts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 3. <U>Liability Insurance</U>. The Corporation
shall have the power, to the fullest extent permitted by New York law, as the same exists or may hereafter be amended, to purchase and
maintain insurance on behalf of any person who is or was a director or officer against any liability asserted against him or her and incurred
by him or her in such capacity or arising out of his or her status as such whether or not the Corporation would have the power to indemnify
him or her against any such liability under the provisions of this Article.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The underwriting agreement to be entered into in
connection with an offering of the securities will contain provisions which indemnify the officers and directors of Metropolitan Bank
Holding Corp. in certain circumstances.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">It is the opinion of the Securities and Exchange
Commission that indemnification of directors and officers for liabilities arising under the Securities Act is against public policy and
is unenforceable pursuant to Section&nbsp;14 of the Securities Act.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ITEM&nbsp;16.</B></FONT></TD>
    <TD STYLE="width: 90%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibits.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold; vertical-align: top">Exhibit</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold">Description</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">1.1*</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif; text-align: left">Form of Underwriting Agreement for any Offering Securities</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000157104917008093/t1702583_ex3-1.htm" STYLE="-sec-extract: exhibit">3.1</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000157104917008093/t1702583_ex3-1.htm" STYLE="-sec-extract: exhibit">Certificate of Incorporation of Metropolitan Bank Holding Corp., as amended (incorporated by reference to Exhibit&nbsp;3.1 to the Registration Statement on Form&nbsp;S-1 filed with the Securities and Exchange Commission on October&nbsp;4, 2017 (File No.&nbsp;333-220805)). </A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000110465921035321/tm219423d1_ex3-2.htm" STYLE="-sec-extract: exhibit">3.2</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000110465921035321/tm219423d1_ex3-2.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment to the Certificate of Incorporation of Metropolitan Bank Holding Corp. (incorporated by reference to Exhibit 3.2 to the Registration Statement on Form S-3 filed with the Securities and Exchange Commission on March 12, 2021 (File No. 333-254197)).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000155837021005944/mcb-20210331xex3d3.htm" STYLE="-sec-extract: exhibit">3.3</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000155837021005944/mcb-20210331xex3d3.htm" STYLE="-sec-extract: exhibit">Amended and Restated Bylaws of Metropolitan Bank Holding Corp. (incorporated by reference to Exhibit 3.3 to the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 5, 2021 (File No. 001-38282)).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000157104917008334/t1702739_ex4-1.htm" STYLE="-sec-extract: exhibit">4.1</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000157104917008334/t1702739_ex4-1.htm" STYLE="-sec-extract: exhibit">Form of Common Stock Certificate of Metropolitan Bank Holding Corp. (incorporated by reference to Exhibit&nbsp;4.1 to the Registration Statement on Form&nbsp;S-1 filed with the Securities and Exchange Commission on October&nbsp;4, 2017 (File No.&nbsp;333-220805)).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000157104917008093/t1702583_ex4-2.htm" STYLE="-sec-extract: exhibit">4.2</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1476034/000157104917008093/t1702583_ex4-2.htm" STYLE="-sec-extract: exhibit">Form of Class B Preferred Stock Certificate of Metropolitan Bank Holding Corp. (incorporated by reference to Exhibit&nbsp;4.2 to the Registration Statement on Form&nbsp;S-1 filed with the Securities and Exchange Commission on October&nbsp;4, 2017 (File No.&nbsp;333-220805)).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right">4.3*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Form of Certificate of Amendment for Preferred Stock.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="tm2131062d1_ex4-4.htm" STYLE="-sec-extract: exhibit">4.4</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="tm2131062d1_ex4-4.htm" STYLE="-sec-extract: exhibit">Form of Senior Indenture</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="tm2131062d1_ex4-5.htm" STYLE="-sec-extract: exhibit">4.5</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="tm2131062d1_ex4-5.htm" STYLE="-sec-extract: exhibit">Form of Subordinated Indenture</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right">4.6*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Form of Debt Security</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right">4.7*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Form of Deposit Agreement (including form of Deposit Certificate)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right">4.8*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Form of Warrant Agreement (including form of Warrant Certificate)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right">4.9*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Form of Subscription Rights Agreement (including form of rights certificate)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="tm2131062d1_ex5-1.htm" STYLE="-sec-extract: exhibit">5.1</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="tm2131062d1_ex5-1.htm" STYLE="-sec-extract: exhibit">Opinion of Luse Gorman, PC regarding the validity of the securities of Metropolitan Bank Holding Corp. offered hereby</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="tm2131062d1_ex23-1.htm" STYLE="-sec-extract: exhibit">23.1</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="tm2131062d1_ex23-1.htm" STYLE="-sec-extract: exhibit">Consent of Crowe LLP</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="tm2131062d1_ex5-1.htm" STYLE="-sec-extract: exhibit">23.2</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="tm2131062d1_ex5-1.htm" STYLE="-sec-extract: exhibit">Consent of Luse Gorman, PC (included in Exhibit 5.1)</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_016" STYLE="-sec-extract: exhibit">24.1</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="#a_016" STYLE="-sec-extract: exhibit">Power of Attorney (included on signature page)</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right">25.1*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Form of Statement of Eligibility under the Trust Indenture Act of 1939, as amended, on Form T-1 for the Senior Indenture</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right">25.2*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Form of Statement of Eligibility under the Trust Indenture Act of 1939, as amended, on Form T-1 for the Subordinated Indenture</TD></TR>
  </TABLE>


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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; width: 97%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">To be filed by amendment or incorporated by reference prior to the offering of securities.</FONT></TD>
    </TR>
  </TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ITEM&nbsp;17.</B></FONT></TD>
    <TD STYLE="width: 90%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Undertakings.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned registrant hereby undertakes:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-indent: 0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 1.25in">(i) To include any prospectus required
by Section 10(a)(3) of the Securities Act of 1933;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-indent: 0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 1.25in">(ii) To reflect in the prospectus
any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed
that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the
form of prospectus filed with the Commission pursuant to Rule&nbsp;424(b) if, in the aggregate, the changes in volume and price represent
no more than a 20 percent change in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo;
table in the effective registration statement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 1.25in">(iii) To include any material information with
respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information
in the registration statement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">provided, however, that paragraphs (a)(1)(i), (a)(1)(ii)
and (a)(1)(iii) shall not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or Section 15(d) of the Securities
Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant
to Rule 424(b) that is part of the registration statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining
any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide
offering thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration by means
of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</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: 1in">(4) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining
liability under the Securities Act of 1933 to any purchaser:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 1.25in">(i) Each prospectus filed by the registrant
pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part
of and included in the registration statement; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 1.25in">(ii) Each prospectus required to be filed pursuant
to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant
to Rule 415(a)(1)(i), (vii), or (x)&nbsp;for the purpose of providing the information required by Section 10(a) of the Securities Act
of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus
is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus.
As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be
deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that
prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided,
however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document
incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement
will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made
in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior
to such effective date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(5)  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining
liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: The undersigned
registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement,
regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser
by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to
offer or sell such securities to such purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 1.25in">(i) Any preliminary prospectus or prospectus
of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 1.25in">(ii) Any free writing prospectus relating to
the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 1.25in">(iii) The portion of any other free writing
prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or
on behalf of the undersigned registrant; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 1.25in">(iv) Any other communication that is an offer
in the offering made by the undersigned registrant to the purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(6)   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for purposes of determining
any liability under the Securities Act of 1933, each filing of the registrant&rsquo;s annual report pursuant to Section 13(a) or Section
15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant
to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(7)  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to
the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer
or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer
or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(8)  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To file an application for the purpose
of determining the eligibility of the trustee to act under subsection (a) of Section 310 of the Trustee Indenture Act in accordance with
the rules and regulations prescribed by the Commission under Section 305(b)(2) of the Trust Indenture Act.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Pursuant to the requirements of the Securities Act
of 1933, Metropolitan Bank Holding Corp. certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form&nbsp;S-3 and has duly caused this Registration Statement on Form&nbsp;S-3 to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of New York, State of New York, on October 27, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Metropolitan Bank Holding Corp.</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 0.8pt; width: 46%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Mark R. DeFazio</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mark R. DeFazio</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_016"></A><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Each person whose signature appears below hereby
severally constitutes and appoints Mark R. DeFazio and Gregory A. Sigrist, and each of them singly, with the power to act without the
other, as attorneys-in-fact, each with the power of substitution, for him or her in any and all capacities, to sign any and all amendments
(including post-effective amendments) to this Registration Statement on Form&nbsp;S-3, and to sign any registration statement for the
same offering covered by this Registration Statement that is to be effective upon filing pursuant to Rule&nbsp;462 promulgated under the
Securities Act of 1933, and all post-effective amendments thereto, and to file the same, with all exhibits thereto and all documents in
connection therewith, with the Securities and Exchange Commission, granting to said attorneys-in-fact, and each of them, full power and
authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents
and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact or any of them,
or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Pursuant to the requirements of the Securities Act
of 1933, this Registration Statement on Form&nbsp;S-3 has been signed below by the following persons in the capacities indicated on October
27, 2021.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="text-align: center; width: 4%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">/s/ Mark R. DeFazio</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President, Chief Executive Officer and Director (Principal Executive Officer)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mark R. DeFazio</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">/s/ Gregory A. Sigrist</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive Vice President&nbsp;and&nbsp;Chief Financial Officer (Principal Financial and Accounting Officer)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gregory A. Sigrist</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">/s/ William Reinhardt</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William Reinhardt</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">/s/ Anthony J. Fabiano</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anthony J. Fabiano</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">/s/ Dale C. Fredston</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dale C. Fredston</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">/s/ David J. Gold</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David J. Gold</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">/s/ Harvey M. Gutman</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Harvey M. Gutman</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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; text-align: center; width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center; width: 4%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">/s/ Terence J. Mitchell</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Terence J. Mitchell</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Director</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Chaya Pamula</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">/s/ Robert C. Patent</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Robert C. Patent</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">/s/ Maria F. Ramirez</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maria F. Ramirez</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Katrina Robinson</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid">/s/ George J. Wolf, Jr.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">George J. Wolf, Jr.</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-4.4
<SEQUENCE>2
<FILENAME>tm2131062d1_ex4-4.htm
<DESCRIPTION>EXHIBIT 4.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 4.4</B></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DATED AS OF [ ], 20[ ]</B></P>

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

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

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

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

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    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reconciliation and tie between the Trust Indenture Act of 1939,
as amended (the &ldquo;Trust Indenture Act&rdquo;), and the Indenture dated as of [ ], 20[ ].</P>

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

<TABLE CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center; width: 51%"><B>SECTION&nbsp;OF TRUST INDENTURE ACT</B></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center; width: 48%"><B>SECTION&nbsp;OF INDENTURE</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">310(a)(1)&nbsp;and (2)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">7.09</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">310(a)(3)&nbsp;and (4)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">Not applicable</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">310(a)(5)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">7.09</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">310(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">7.08 and 7.10</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">311(a)&nbsp;and (b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">7.13</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">312(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">5.01 and 5.02(a)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">312(b)&nbsp;and (c)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">5.02(b)&nbsp;and (c)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">313(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">5.04(a)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">313(b)(1)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">Not applicable</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">313(b)(2)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">5.04(b)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">313(c)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">5.04(c)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">313(d)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">5.04(d)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">314(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">5.03</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">314(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">Not applicable</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">314(c)(1)&nbsp;and (2)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">14.04</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">314(c)(3)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">Not applicable</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">314(d)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">Not applicable</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">314(e)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">15.05</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">314(f)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">Not applicable</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">315(a), (c)&nbsp;and (d)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">7.01</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">315(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">7.14</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">315(e)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">6.14</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">316(a)(1)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">6.12</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">316(a)(2)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">Omitted</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">316(a)&nbsp;last sentence</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">8.04</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">316(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">6.08</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">316(c)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">8.06</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">317(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">6.03 and 6.04</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">317(b)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">4.03(a)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center">318(a)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center">15.07</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note: This reconciliation and tie shall not, for any purpose,
be deemed to be a part of the Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention should also be directed to Section&nbsp;318(c)&nbsp;of
the Trust Indenture Act, which provides that the provisions of Sections 310 to and including Section&nbsp;317 of the Trust Indenture
Act are a part of and govern every qualified indenture, whether or not physically contained therein.</P>

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

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

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

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

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

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.75pt; width: 15%">&nbsp;</TD>
    <TD STYLE="width: 77%">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt; font-size: 10pt; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt"><B>Page(s)</B></FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;1 DEFINITIONS</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">1</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;1.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Definitions.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">1</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;2 ISSUE, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">5</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;2.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Amount Unlimited; Issuable in Series.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">5</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;2.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Form&nbsp;of Trustee&rsquo;s Certificate of Authentication.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">5</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;2.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Form&nbsp;of Securities Generally; Establishment of Terms of Series.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">6</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;2.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Securities in Global Form.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">8</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;2.05.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Denominations; Record Date; Payment of Interest.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">9</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;2.06.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Execution, Authentication, Delivery and Dating of Securities.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">9</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;2.07.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Exchange and Registration of Transfer of Securities.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">11</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;2.08.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Temporary Securities.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">12</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;2.09.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Mutilated, Destroyed, Lost or Stolen Securities.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">12</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;2.10.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Cancellation.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">13</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;2.11.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Book-Entry Only System.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">13</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;3 REDEMPTION OF SECURITIES</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">14</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;3.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Redemption of Securities, Applicability of Section.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">14</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;3.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Notice of Redemption, Selection of Securities.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">14</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;3.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Payment of Securities Called for Redemption.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">15</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;3.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Redemption Suspended During Event of Default.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">15</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;4 PARTICULAR COVENANTS OF THE COMPANY</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">15</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;4.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Payment of Principal, Premium and Interest.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">15</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;4.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Offices for Notices and Payments.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">16</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;4.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Provisions as to Paying Agent.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">16</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;4.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Statement as to Compliance.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">17</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;4.05.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Corporate Existence.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">17</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;4.06.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Ownership of Material Subsidiary Stock.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">17</TD>
    </TR>

</TABLE>

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

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

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<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 15%; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt">SECTION&nbsp;4.07.</TD>
    <TD STYLE="vertical-align: bottom; width: 77%; font-size: 10pt">Waiver of Covenants.</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; padding-left: 0.75pt; font-size: 10pt; text-align: right">18</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;5 SECURITYHOLDER LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">18</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;5.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Securityholder Lists.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">18</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;5.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Preservation and Disclosure of Lists.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">19</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;5.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Reports by the Company.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">19</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;5.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Reports by the Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">19</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;6 REMEDIES</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">20</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Events of Default; Acceleration of Maturity.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">20</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Rescission and Annulment</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">21</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Collection of Indebtedness and Suits for Enforcement by Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">21</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Trustee May&nbsp;File Proofs of Claim.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">22</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.05.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Trustee May&nbsp;Enforce Claims Without Possession of Securities.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">22</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.06.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Application of Money Collected.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">22</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.07.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Limitation on Suits.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">23</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.08.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Unconditional Right of Securityholders to Receive Principal and Interest.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">23</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.09.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Restoration of Rights and Remedies.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">23</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.10.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Rights and Remedies Cumulative.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">23</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.11.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Delay or Omission Not Waiver.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">24</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.12.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Control by Securityholders.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">24</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.13.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Waiver of Past Defaults.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">24</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.14.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Undertaking for Costs.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">25</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;6.15.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Waiver of Stay or Extension Laws.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">25</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;7 CONCERNING THE TRUSTEE</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">25</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Duties and Responsibilities of Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">25</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Reliance on Documents, Opinions,&nbsp;etc.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">26</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">No Responsibility for Recitals,&nbsp;etc.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">27</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Ownership of Securities.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">27</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" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt; width: 15%">SECTION&nbsp;7.05.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; width: 77%">Moneys to be Held in Trust.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right; width: 8%">27</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">&nbsp;</TD></TR>

<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.06.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Compensation and Expenses of Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">27</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.07.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Officers&rsquo; Certificate or Opinion of Counsel as Evidence.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">28</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.08.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Disqualifications; Conflicting Interest of Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">28</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.09.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Eligibility of Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">28</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.10.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Resignation or Removal of Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">29</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.11.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Acceptance by Successor Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">29</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.12.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Successor by Merger,&nbsp;etc.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">30</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.13.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Limitations on Rights of Trustee as Creditor.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">30</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.14.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Notice of Default.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">30</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;7.15.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Appointment of Authenticating Agent.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">31</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;8 CONCERNING THE SECURITYHOLDERS</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">32</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;8.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Action by Securityholders.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">32</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;8.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Proof of Execution by Securityholders.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">32</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;8.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Who Are Deemed Absolute Owners.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">33</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;8.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Company-Owned Securities Disregarded.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">33</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;8.05.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Revocation of Consents; Future Securityholders Bound.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">33</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;8.06.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Record Date.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">33</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;9 SECURITYHOLDERS&rsquo; MEETINGS</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">34</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;9.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Purposes of Meeting.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">34</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;9.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Call of Meetings by Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">34</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;9.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Call of Meetings by Company or Securityholders.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">34</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;9.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Qualifications for Voting.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">34</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;9.05.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Regulations.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">35</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;9.06.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Voting.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">35</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;10 SUPPLEMENTAL INDENTURES</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">35</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;10.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Supplemental Indentures without Consent of Securityholders.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">35</TD>
    </TR>
</TABLE>

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

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

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<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt; width: 15%">SECTION&nbsp;10.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; width: 77%">Supplemental Indentures with Consent of Holders.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right; width: 8%">37</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;10.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Compliance with Trust Indenture Act; Effect of Supplemental Indentures.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">38</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">&nbsp;</TD></TR>

<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;10.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Notation on Securities.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">38</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 12pt; font-size: 10pt; text-indent: -12pt">ARTICLE&nbsp;11 CONSOLIDATION, MERGER, SALE OR CONVEYANCE</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">38</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;11.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Company May&nbsp;Consolidate,&nbsp;etc., on Certain Terms.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">38</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;11.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Successor Corporation Substituted.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">38</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;11.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Opinion of Counsel and Officers&rsquo; Certificate to be Given Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">39</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 12pt; font-size: 10pt; text-indent: -12pt">ARTICLE&nbsp;12 SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">39</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;12.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Discharge of Indenture.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">39</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;12.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Deposited Moneys to be Held in Trust by Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">39</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;12.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Paying Agent to Repay Moneys Held.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">40</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;12.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Return of Unclaimed Moneys.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">40</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 12pt; font-size: 10pt; text-indent: -12pt">ARTICLE&nbsp;13 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">40</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;13.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Indenture and Securities Solely Corporate Obligations.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">40</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;14 DEFEASANCE AND COVENANT DEFEASANCE</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">40</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;14.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Applicability of Article.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">40</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;14.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Defeasance and Discharge.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">40</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;14.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Covenant Defeasance.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">41</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;14.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Conditions to Defeasance or Covenant Defeasance.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">41</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;14.05.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous Provisions.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">42</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;15 MISCELLANEOUS PROVISIONS</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">43</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;15.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Benefits of Indenture Restricted to Parties and Securityholders.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">43</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;15.02.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Provisions Binding on Company&rsquo;s Successors.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">43</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;15.03.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Addresses for Notices,&nbsp;etc., to Company and Trustee.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">43</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;15.04.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Notice to Holders of Securities; Waiver.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">43</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;15.05.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Evidence of Compliance with Conditions Precedent.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">44</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" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt; width: 15%">SECTION&nbsp;15.06.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; width: 77%">Legal Holidays.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right; width: 8%">44</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;15.07.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Trust Indenture Act to Control.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">44</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;15.08.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Execution in Counterparts.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">45</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">&nbsp;</TD></TR>

<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;15.09.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Governing Law; Waiver of Jury Trial.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">45</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;15.10.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Severability.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">45</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;15.11.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Interpretations.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">45</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;15.12.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">U.S.A. Patriot Act.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">46</TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt">ARTICLE&nbsp;16 RANKING OF SECURITIES</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">46</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.35in; text-align: left; vertical-align: top; font-size: 10pt">SECTION&nbsp;16.01.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Ranking.</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">46</TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIS INDENTURE, dated as of [ ], 20[ ] between
Metropolitan Bank Holding Corp., a corporation duly organized and existing under the laws of the State of New York (the &ldquo;Company&rdquo;),
and [ ], as trustee (the &ldquo;Trustee,&rdquo; which term shall include any successor trustee appointed pursuant to Article&nbsp;7
of this Indenture).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company deems it necessary
to issue from time to time for its lawful purposes securities (the &ldquo;Securities&rdquo;) evidencing its indebtedness and has
duly authorized the execution and delivery of this Indenture to provide for the issuance of the Securities in one or more series,
unlimited as to principal amount, to bear such rates of interest, to mature at such time or times, and to have such other provisions
as shall be fixed as hereinafter provided; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company represents that all
acts and things necessary to constitute these presents a valid indenture and agreement according to its terms have been done and
performed, and the execution of this Indenture has in all respects been duly authorized, and the Company, in the exercise of legal
right and power in it vested, is executing this Indenture;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In order to declare the terms and conditions
upon which the Securities are authenticated, issued and received, and in consideration of the premises and the purchase and acceptance
of the Securities by the holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of the
respective holders from time to time of the Securities, as follows:</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;1.01. Definitions.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The terms defined in this Section&nbsp;(except
as herein otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any
indenture supplemental hereto shall have the respective meanings specified in this Section. All other terms used in this Indenture
that are defined in the Trust Indenture Act or that are by reference therein defined in the Securities Act shall have the meanings
(except as herein otherwise expressly provided or unless the context otherwise requires) assigned to such terms in the Trust Indenture
Act and in the Securities Act as in force at the date of this Indenture as originally executed. All accounting terms used herein
and not expressly defined shall have the meanings assigned to such terms in accordance with United States generally accepted accounting
principles as are generally accepted at the time of any computation. The words &ldquo;herein,&rdquo; &ldquo;hereof&rdquo; and &ldquo;hereunder&rdquo;
and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section&nbsp;or other subdivision.
The terms defined in this Article&nbsp;have the meanings assigned to them in this Article&nbsp;and include the plural as well as
the singular.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Additional Amounts&rdquo; shall mean
any additional amounts to be paid by the Company in respect of Securities of a series, as may be specified pursuant to Section&nbsp;2.03(b)&nbsp;hereof
and in such Security and under the circumstances specified therein, in respect of specified taxes, assessments or other governmental
charges imposed on certain holders who are United States Aliens.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Authorized Officer&rdquo; shall have
the meaning set forth in Section&nbsp;3.02 hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Board of Directors&rdquo; or &ldquo;Board&rdquo;
shall mean the Board of Directors of the Company or any duly authorized committee of such Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Board Resolution&rdquo; shall mean
a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors
or by a committee acting under authority of or appointment by the Board of Directors and to be in full force and effect on the
date of such certification, and delivered to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Business Day&rdquo; shall mean, unless
otherwise specified pursuant to Section&nbsp;2.03(b), any day other than a Saturday or Sunday that is neither a legal holiday nor
a day on which banking institutions or trust companies in the City of New York, New York, or any Place of Payment are authorized
or obligated by law, regulation or executive order to remain closed.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Capital Stock&rdquo; shall mean,
as to shares of a particular corporation, outstanding shares of stock of any class, whether now or hereafter authorized, irrespective
of whether such class shall be limited to a fixed sum or percentage in respect of the rights of the holders thereof to participate
in dividends and in the distribution of assets upon the voluntary liquidation, dissolution or winding up of such corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Commission&rdquo; shall mean the
Securities and Exchange Commission or any successor agency.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Company&rdquo; shall mean the person
named as the &ldquo;Company&rdquo; in the first paragraph of this instrument until a successor corporation shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter &ldquo;Company&rdquo; shall mean such successor corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Company Request&rdquo; and &ldquo;Company
Order&rdquo; mean, respectively, a written request or order signed in the name of the Company by its Chief Executive Officer, President,
Chief Financial Officer, Vice President, General Counsel, Secretary or Assistant Secretary or Treasurer or Assistant Treasurer
and delivered to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Corporate Trust Office&rdquo; means
the office of the Trustee at which at any particular time its corporate trust business shall be principally administered, which
office at the date hereof is located at [ ], Attention: Metropolitan Bank Holding Corp. Administrator, or such other address as
the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of
any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the holders
and the Company).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;covenant defeasance&rdquo; shall
have the meaning set forth in Section&nbsp;14.03.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Default&rdquo; or &ldquo;default&rdquo;
shall have the meaning specified in Article&nbsp;6.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;defeasance&rdquo; shall have the
meaning set forth in Section&nbsp;14.02.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Depositary&rdquo; shall mean, with
respect to the Securities of any series issuable or issued in whole or in part in the form of one or more permanent global Securities,
the person designated as Depositary by the Company pursuant to Section&nbsp;2.03(b), which must be a clearing agency registered
under the Exchange Act, until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture,
and thereafter &ldquo;Depositary&rdquo; shall mean or include each person who is then a Depositary hereunder, and if at any time
there is more than one such person, &ldquo;Depositary&rdquo; as used with respect to the Securities of any series shall mean the
Depositary with respect to the Securities of such series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Dollar&rdquo; or &ldquo;$&rdquo;
shall mean a dollar or other equivalent unit in such coin or currency of the United States of America as at the time shall be legal
tender for the payment of public and private debts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Event of Default&rdquo; shall have
the meaning specified in Article&nbsp;6.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Exchange Act&rdquo; shall mean the
Securities Exchange Act of 1934, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Exchange Date&rdquo; shall have the
meaning set forth in Section&nbsp;2.08.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Global Security&rdquo; or &ldquo;Global
Securities&rdquo; means a Security or Securities, as the case may be, in the form established pursuant to Section&nbsp;2.03 evidencing
all or part of a Series&nbsp;of Securities, issued to the Depositary for such Series&nbsp;or its nominee, and registered in the
name of such Depositary or nominee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;holder,&rdquo; &ldquo;holder of Securities,&rdquo;
 &ldquo;securityholder&rdquo; or other similar term shall mean in the case of any Registered Security, the person in whose name
such Security is registered in the Security Register kept by the Company for that purpose, in accordance with the terms hereof.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Indebtedness&rdquo; means, without
duplication, the principal, premium, if any, unpaid interest (including interest accruing on or after the filing of any petition
in bankruptcy or for reorganization relating to the Company whether or not a claim for post-filing interest is allowed in such
proceeding), fees, charges, expenses, reimbursement and indemnification obligations, and all other amounts payable under or in
respect of the following indebtedness of the Company, whether any such indebtedness exists as of the date of the Indenture or is
created, incurred or assumed after such date: (i)&nbsp;all obligations for borrowed money, (ii)&nbsp;all obligations evidenced
by debentures, Securities or other similar instruments, (iii)&nbsp;all obligations in respect of letters of credit or bankers acceptances
or similar instruments (or reimbursement obligations with respect thereto), (iv)&nbsp;all obligations to pay the deferred purchase
price of property or services, except trade accounts payable arising in the ordinary course of business, (v)&nbsp;all indebtedness
of others guaranteed by the Company or any of its Subsidiaries or for which the Company or any of its Subsidiaries is legally responsible
or liable (whether by agreement to purchase indebtedness of, or to supply funds or to invest in, others) and (vi)&nbsp;indebtedness
secured by any mortgage, pledge, lien, charge, encumbrance or any security interest existing on property owned by the Company but
excluding any obligations of the Company which are required (as opposed to elected to be treated) as capitalized leases under United
States generally accepted accounting principles.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Indenture&rdquo; shall mean this
instrument as originally executed and delivered or as it may from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof, including without limitation, the forms and terms
of particular series of Securities established as contemplated by Article&nbsp;2.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Material Subsidiary&rdquo; means
Metropolitan Commercial Bank, or any successor thereof or any Subsidiary of the Company that is a depository institution and that
has consolidated assets equal to 80% or more of the Company&rsquo;s consolidated assets.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Officers&rsquo; Certificate&rdquo;
shall mean a certificate signed by the Chief Executive Officer, President or other principal executive officer and by the Chief
Financial Officer or other principal financial officer or principal accounting officer, Assistant Secretary, Treasurer or Controller
of the Company and delivered to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Opinion of Counsel&rdquo; shall mean
an opinion in writing signed by legal counsel, who may be an employee of or counsel to the Company and who shall be reasonably
satisfactory to the Trustee, or who may be other counsel reasonably satisfactory to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Original Issue Discount Securities&rdquo;
shall mean any Securities that are initially sold at a discount from the principal amount thereof and that provide upon an Event
of Default for declaration of an amount less than the principal amount thereof to be due and payable upon acceleration thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Outstanding&rdquo; or &ldquo;outstanding,&rdquo;
when used with reference to Securities, shall, subject to the provisions of Section&nbsp;7.08, Section&nbsp;8.01 and Section&nbsp;8.04,
mean, as of any particular time, all Securities authenticated and delivered by the Trustee under this Indenture, except:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Securities
theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Securities,
or portions thereof, for the payment or redemption of which moneys in the necessary amount shall have been deposited in trust with
the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated and held in trust by
the Company (if the Company shall act as its own paying agent) for the holders of such Securities; provided, that if such Securities,
or portions thereof, are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided
in Article&nbsp;3, or provision satisfactory to the Trustee shall have been made for giving such notice;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Securities
that have been defeased pursuant to Section&nbsp;14.02 hereof; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Securities
that have been paid pursuant to Section&nbsp;2.09, or Securities in exchange for, in lieu of and in substitution for which other
Securities shall have been authenticated and delivered pursuant to the terms of Section&nbsp;2.07, unless proof satisfactory to
the Trustee is presented that any such Securities are held by bona fide holders in due course.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Periodic Offering&rdquo; shall mean
an offering of Securities of a series, from time to time, the specific terms of which (including, without limitation, the rate
or rates of interest or formula for determining the rate or rates of interest thereon, if any, the maturity date or dates thereof
and the redemption provisions, if any, with respect thereto) are to be determined by the Company upon the issuance of such Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Person&rdquo; or &ldquo;person&rdquo;
shall mean any individual, corporation, limited liability company, partnership, joint venture, association, joint stock company,
trust, unincorporated organization or government or any agency or political subdivision thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Place of Payment,&rdquo; when used
with respect to the Securities of any series, means the place or places where, subject to the provisions of Section&nbsp;4.02,
the principal of (and premium, if any, on) and any interest on the Securities of that series are payable as specified as contemplated
by Section&nbsp;2.03(b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;record date&rdquo; as used with respect
to any interest payment date shall have the meaning specified in Section&nbsp;2.05.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Registered Security&rdquo; shall
mean any Security established pursuant to Section&nbsp;2.01 and Section&nbsp;2.03(b)&nbsp;that is registered on the Security Register
of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Responsible Officer,&rdquo; when
used with respect to the Trustee, shall mean any officer within its Corporate Trust Office of the Trustee (or any successor group
of the Trustee), including any Vice President, Assistant Vice President, Assistant Secretary or any other officer of the Trustee
customarily performing functions similar to those performed by any of the above designated officers and also shall mean, with respect
to a particular corporate trust matter, any other officer to whom such matter is referred because of such officer&rsquo;s knowledge
of and familiarity with the particular subject, and in each case, who has direct responsibility for the administration of this
Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Securities&rdquo; shall have the
meaning set forth in the preamble of this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Securities Act&rdquo; shall mean
the Securities Act of 1933, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Security Register&rdquo; and &ldquo;Security
Registrar&rdquo; shall have the respective meanings set forth in Section&nbsp;2.07(a)&nbsp;hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Series&rdquo; or &ldquo;Series&nbsp;of
Securities&rdquo; means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections
2.01 and 2.03.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Subsidiary&rdquo; shall mean, in
respect of any Person, any corporation, association, partnership, limited liability company or other business entity of which more
than 50% of the total voting power of shares of Capital Stock or other interests (including partnership interests) entitled (without
regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time
owned or controlled, directly or indirectly, by (a)&nbsp;such Person, (b)&nbsp;such Person and one or more Subsidiaries of such
Person or (c)&nbsp;one or more Subsidiaries of such Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Trust Indenture Act,&rdquo; except
as otherwise provided in this Indenture, shall mean the Trust Indenture Act of 1939, as amended, as in force at the date of this
Indenture as originally executed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Trustee&rdquo; shall mean the person
identified as &ldquo;Trustee&rdquo; in the first paragraph hereof until the acceptance of appointment of a successor trustee pursuant
to the provisions of Article&nbsp;7, and thereafter shall mean such successor trustee, and if at any time there is more than one
such person, &ldquo;Trustee&rdquo; as used with respect to the Securities of any Series&nbsp;shall mean the Trustee with respect
to Securities of that Series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;United States Alien&rdquo; shall
mean any person who, for United States federal income tax purposes, is a foreign corporation, a non-resident alien individual,
a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership to the extent that one or more of its members
is, for United States federal income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident alien
fiduciary of a foreign estate or trust.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;USA PATRIOT Act&rdquo; shall have
the meaning set forth in Section&nbsp;15.12 hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Vice President&rdquo; when used with
respect to the Company or the Trustee shall mean any vice president, whether or not designated by a number or word or words added
before or after the title &ldquo;vice president,&rdquo; including any Executive or Senior Vice President.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Voting Stock&rdquo; means outstanding
shares of Capital Stock having voting power for the election of directors, whether at all times or only so long as no senior class
of stock has such voting power because of default in dividends or other default.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;2</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.01. Amount Unlimited; Issuable in Series.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the execution of this Indenture, or
from time to time thereafter, Securities up to the aggregate principal amount and containing terms and conditions from time to
time authorized by or pursuant to a Board Resolution, or in an indenture supplemental hereto or Officers&rsquo; Certificate, as
set forth in Section&nbsp;2.03, may be executed by the Company and delivered to the Trustee for authentication, and the Trustee
shall thereupon authenticate and make available for delivery the Securities to or upon Company Order, without any further action
by the Company but subject to the provisions of Section&nbsp;2.03, or in an indenture supplemental hereto or Officers&rsquo; Certificate,
as set forth in Section&nbsp;2.03.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Securities may be issued in one or more
series. The aggregate principal amount of Securities of all series that may be authenticated and delivered and outstanding under
this Indenture is not limited hereunder. The Securities of a particular series may be issued up to the aggregate principal amount
of Securities for such series from time to time authorized by or pursuant to a Board Resolution. Securities may differ between
Series&nbsp;in respect of any matters; provided that all Series&nbsp;of Securities shall be equally and ratably entitled to the
benefits of this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.02. Form&nbsp;of Trustee&rsquo;s Certificate
of Authentication.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The form of the Trustee&rsquo;s certificate
of authentication to be borne by the Securities shall be in substantially the following form:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form&nbsp;of Trustee&rsquo;s Certificate
of Authentication</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture.</P>

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

<TABLE CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">Dated:</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-size: 10pt">[ ], as Trustee</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 45%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">Authorized Signatory</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.03. Form&nbsp;of Securities Generally; Establishment
of Terms of Series.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Registered Securities, if any, of each series, the temporary global Securities of each series, if any, and the permanent global
Securities of each series, if any, shall be in the forms established from time to time in or pursuant to one or more Board Resolutions
(and, to the extent established pursuant to rather than set forth in one or more Board Resolutions, in an Officers&rsquo; Certificate
(to which shall be attached true and correct copies of the relevant Board Resolution(s)) detailing such establishment) or established
in an indenture supplemental hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Securities may be issued in typewritten,
printed or engraved form with such letters, numbers or other marks of identification or designation (including CUSIP numbers, if
then generally in use) and such legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate
and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule&nbsp;or
regulation made pursuant thereto or with any rule&nbsp;or regulation of any stock exchange on which the Securities may be listed,
or to conform to usage.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At
or prior to the initial issuance of Securities of any series, the particular terms of Securities of such series shall be established
in or pursuant to one or more Board Resolutions (and to the extent established pursuant to rather than set forth in one or more
Board Resolutions, in an Officers&rsquo; Certificate (to which shall be attached true and correct copies of the relevant Board
Resolution(s)) detailing such establishment) or established in an indenture supplemental hereto, including the following:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
designation of the particular series (which shall distinguish such series from all other series);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
aggregate principal amount of such series which may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series
pursuant to this Indenture and except for any Securities which, pursuant to Section&nbsp;2.06, are deemed never to have been authenticated
and delivered hereunder);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>whether
Securities of the series are to be issuable as Registered Securities, whether any Securities of the series are to be issuable initially
in temporary global form and, if so, the name of the Depositary with respect to any such temporary global Security, and whether
any Securities of the series are to be issuable in permanent global form and, if so, whether beneficial owners of interests in
any such permanent global Security may exchange such interests for Securities of such series and of like tenor of any authorized
form and denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section&nbsp;2.07
and the name of the Depositary with respect to any such permanent global Security;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(4)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
date as of which any temporary Security in global form representing Outstanding Securities of such series shall be dated, if other
than the date of original issuance of the first Securities of the series to be issued;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(5)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
person to whom any interest on any Registered Security of the series shall be payable, if other than the person in whose name that
Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest,
the extent to which, or the manner in which, any interest payable on a temporary global Security on an interest payment date will
be paid if other than in the manner provided in Section&nbsp;2.05 and the extent to which, or the manner in which, any interest
payable on a permanent global Security on an interest payment date will be paid;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(6)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
date or dates on which the principal of the Securities of such series is payable;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(7)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
rate or rates, and if applicable the method used to determine the rate, at which the Securities of such series shall bear interest,
if any, the date or dates from which such interest shall accrue, the date or dates on which such interest shall be payable and
the record date or dates for the interest payable on any Registered Securities on any interest payment date;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(8)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
place or places at which, subject to the provisions of Section&nbsp;4.02, the principal of (and premium, if any, on) and any interest
on Securities of such series shall be payable, any Registered Securities of the series may be surrendered for registration of transfer,
Securities of the series may be surrendered for exchange and notices and demands to or upon the Company in respect of the Securities
of the series and this Indenture may be served;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(9)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
obligation, if any, of the Company to redeem or purchase Securities of such series, at the option of the Company or at the option
of a holder thereof, pursuant to any sinking fund or other redemption provisions and the period or periods within which, the price
or prices at which and the terms and conditions upon which Securities of the series may be so redeemed or purchased, in whole or
in part;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(10)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if
other than minimum denominations of $1,000 and any integral multiple thereof, the denominations in which any Registered Securities
of such series shall be issuable;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(11)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if
other than the principal amount thereof, the portion of the principal amount of Securities of such series which shall be payable
upon declaration of acceleration of the maturity thereof;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(12)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
currency, currencies or currency units in which payment of the principal of (and premium, if any, on) and any interest on any Securities
of the series shall be payable if other than the currency of the United States of America and the manner of determining the equivalent
thereof in the currency of the United States of America for purposes of the definition of &ldquo;Outstanding&rdquo; in Section&nbsp;1.01;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(13)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if
the principal of (and premium, if any, on) or any interest on the Securities of the series are to be payable, at the election of
the Company or a holder thereof, in one or more currencies or currency units, other than that or those in which the Securities
are stated to be payable, the currency or currencies in which payment of the principal of (and premium, if any, on) and any interest
on Securities of such series as to which such election is made shall be payable, and the periods within which and the terms and
conditions upon which such election is to be made;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(14)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if
the amount of payments of principal of (and premium, if any, on) or any interest on the Securities of the series may be determined
with reference to an index, the manner in which such amounts shall be determined;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(15)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>whether
the Securities will be issued in book-entry only form;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(16)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities of such series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(17)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if
either or both of Section&nbsp;14.02 and Section&nbsp;14.03 do not apply to the Securities of the series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(18)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>whether
and under what circumstances the Company will pay Additional Amounts in respect of any series of Securities and whether the Company
has the option to redeem such Securities rather than pay such Additional Amounts;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(19)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
provisions relating to the extension of maturity of, or the renewal of, Securities of such series, or the conversion of Securities
of such series into other securities of the Company;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(20)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
provisions relating to the purchase or redemption of all or any portion of a tranche or series of Securities, including the period
of notice required to redeem those Securities;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(21)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
terms and conditions, if any, pursuant to which the Securities of the series are secured;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(22)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
subordination terms of the Securities of the series; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(23)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
other terms of the Securities or provisions relating to the payment of principal, premium (if any), or interest thereon, including,
but not limited to, whether such Securities are issuable at a discount or premium, as amortizable Securities, and if payable in,
convertible or exchangeable for commodities or for the securities of the Company or any third party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All Securities of any one series need not
be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by
or pursuant to the Board Resolution or Officers&rsquo; Certificate referred to above or as set forth in an indenture supplemental
hereto, and, unless otherwise provided, the authorized principal amount of any series may be increased to provide for issuances
of additional Securities of such series. If so provided by or pursuant to the Board Resolution or Officers&rsquo; Certificate or
supplemental indenture referred to above, the terms of such Securities to be issued from time to time may be determined as set
forth in such Board Resolution, Officers&rsquo; Certificate or supplemental indenture, as the case may be. All Securities of any
one series shall be substantially identical except as to denomination, interest rate, maturity and other similar terms and except
as may be provided otherwise by or pursuant to such Board Resolution, Officers&rsquo; Certificate or supplemental indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.04. Securities in Global Form.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If Securities of a series are issuable in
global form, as specified as contemplated by Section&nbsp;2.03(b), then, notwithstanding clause (10)&nbsp;of Section&nbsp;2.03(b)&nbsp;and
the provisions of Section&nbsp;2.05, any such Security in global form shall represent such of the Securities of such series Outstanding
as shall be specified therein, and any such Security in global form may provide that it shall represent the aggregate amount of
Securities Outstanding from time to time endorsed thereon and that the aggregate amount of Securities Outstanding represented thereby
may from time to time be reduced to reflect any exchanges of beneficial interests in such Security in global form for Securities
of such series as contemplated herein. Any endorsement of a Security in global form to reflect the amount, or any decrease in the
amount, of Securities Outstanding represented thereby shall be made by the Trustee or the Security Registrar in such manner and
upon instructions given by such person or persons as shall be specified in such Security in global form or in the Company Order
to be delivered to the Trustee pursuant to Section&nbsp;2.06 or Section&nbsp;2.08. Subject to the provisions of Section&nbsp;2.06
and, if applicable, Section&nbsp;2.08, the Trustee or the Security Registrar shall deliver and redeliver any Security in permanent
global form in the manner and upon instructions given by the person or persons specified in such Security in global form or in
the applicable Company Order. If a Company Order pursuant to Section&nbsp;2.06 or Section&nbsp;2.08 has been, or simultaneously
is, delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Security in global form
shall be in writing but need not be represented by a Company Order and need not be accompanied by an Opinion of Counsel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The provisions of the last sentence of Section&nbsp;2.06
shall apply to any Security represented by a Security in global form if such Security was never issued and sold by the Company
and the Company delivers to the Trustee or the Security Registrar the Security in global form together with written instructions
(which need not be represented by a Company Order and need not be accompanied by an Opinion of Counsel) with regard to the reduction
in the principal amount of Securities represented thereby, together with the written statement contemplated by the last sentence
of Section&nbsp;2.06.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the provisions of Section&nbsp;2.05,
unless otherwise specified as contemplated by Section&nbsp;2.03(b), payment of principal of and any premium and interest on any
Security in permanent global form shall be made to the persons or persons specified therein.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.05. Denominations; Record Date; Payment of
Interest.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Unless
otherwise provided as contemplated by Section&nbsp;2.03(b)&nbsp;with respect to any series of Securities, any Registered Securities
of a series shall be issuable in minimum denominations of $1,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
term &ldquo;record date&rdquo; as used with respect to an interest payment date for any series of a Registered Security shall mean
such day or days as shall be specified as contemplated by Section&nbsp;2.03(b); provided, that in the absence of any such provisions
with respect to any series, such term shall mean (1)&nbsp;the last day of the calendar month next preceding such interest payment
date if such interest payment date is the 15th day of a calendar month; or (2)&nbsp;the 15th day of a calendar month next preceding
such interest payment date if such interest payment date is the first day of the calendar month.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise provided as contemplated
by Section&nbsp;2.03 with respect to any series of Securities, the person in whose name any Registered Security is registered at
the close of business on the record date with respect to an interest payment date shall be entitled to receive the interest payable
on such interest payment date notwithstanding the cancellation of such Security upon any registration of transfer or exchange thereof
subsequent to such record date prior to such interest payment date; provided, that if and to the extent the Company shall default
in the payment of the interest due on such interest payment date, such defaulted interest shall be paid to the persons in whose
names the Securities are registered on a subsequent record date established by notice given to the extent and in the manner set
forth in Section&nbsp;15.04 by or on behalf of the Company to the holders of Securities of the series in default not less than
15 days preceding such subsequent record date, such record date to be not less than five days preceding the date of payment of
such defaulted interest, or in any other lawful manner acceptable to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Unless
otherwise specified by Board Resolution or Company Order for a particular series of Securities, the principal of, redemption premium,
if any, on and interest, if any, on the Securities of any series shall be payable at the office or agency of the Company maintained
pursuant to Section&nbsp;4.02 in a Place of Payment for such series, in Dollars; provided, that, at the option of the Company,
payment of interest with respect to a Registered Security may be paid by check mailed to the holders of the Registered Securities
entitled thereto at their last addresses as they appear on the Security Register or wired if held in book-entry form at the Depositary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.06. Execution, Authentication, Delivery and
Dating of Securities.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Securities shall be signed on behalf
of the Company by its Chief Executive Officer, its President or one of its Vice Presidents. Such signatures may be the manual,
electronic or facsimile signatures of such then current officers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any Security may be signed on behalf of
the Company by such persons as, at the actual date of the execution of such Security, shall be the proper officers of the Company,
although at the date of the execution of this Indenture any such person was not such officer. Securities bearing the manual, electronic
or facsimile signatures of individuals who were, at the actual date of the execution of such Security, the proper officers of the
Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to
the authentication and delivery of such Securities, as the case may be, or did not hold such offices at the date of such Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the execution and delivery of this
Indenture, the Company shall deliver to the Trustee an Officers&rsquo; Certificate as to the incumbency and specimen signatures
of officers authorized to execute and deliver the Securities and give instructions under this Section&nbsp;and, as long as Securities
are Outstanding under this Indenture, such incumbency certificate shall be amended and replaced whenever an officer is to be added
or deleted from the listing. The Trustee may conclusively rely on the documents delivered pursuant to this Section&nbsp;(unless
revoked by superseding comparable documents) and Section&nbsp;2.03 hereof as to the authorization of the Board of Directors of
any Securities delivered hereunder, and the form and terms thereof, and as to the authority of the instructing officers referred
to in this Section&nbsp;so to act.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee shall at any time, and from
time to time, authenticate Securities for original issue in an unlimited aggregate principal amount upon receipt by the Trustee
of a Company Order; provided, that with respect to Securities of a series subject to a Periodic Offering, (a)&nbsp;such Company
Order may be delivered to the Trustee prior to the delivery to the Trustee of such Securities for authentication and delivery,
(b)&nbsp;the Trustee shall authenticate and deliver Securities of such series for original issue from time to time, in an aggregate
principal amount not exceeding the aggregate principal amount, if any, established for such series, pursuant to a Company Order,
(c)&nbsp;the maturity date or dates, original issue date or dates, interest rate or rates and any other terms of Securities of
such series shall be determined by Company Order or pursuant to such procedures, and (d)&nbsp;if provided for in such procedures,
such Company Order may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its
duly authorized agent or agents, which oral instructions shall be promptly confirmed in writing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Prior to the issuance of a Security of any
new series, and the authentication thereof by the Trustee, the Trustee shall have received and (subject to Section&nbsp;7.02) shall
be fully protected in relying on:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Board Resolution or Officers&rsquo; Certificate or indenture supplemental hereto establishing the terms and the form of the Securities
of that series pursuant to Section&nbsp;2.01 and Section&nbsp;2.03;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>An
Officers&rsquo; Certificate stating that all conditions precedent provided for in this Indenture relating to the issuance, authentication
and delivery of Securities in such form have been complied with;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>An
Opinion of Counsel stating that the form and terms of such Securities have been established in conformity with the provisions of
this Indenture; provided, that with respect to Securities of a series subject to a Periodic Offering, the Trustee shall be entitled
to receive such Opinion of Counsel only once at or prior to the time of the first authentication of Securities of such series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">With respect to Securities of a series offered
in a Periodic Offering, the Trustee may rely, as to the authorization by the Company of any of such Securities, the form and terms
thereof and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and other documents
delivered pursuant to this Section&nbsp;in connection with the first authentication of Securities of such series unless and until
such Opinion of Counsel or other documents have been superseded or revoked. In connection with the authentication and delivery
of Securities of a series subject to a Periodic Offering, the Trustee shall be entitled to assume that the Company&rsquo;s instructions
to authenticate and deliver such Securities do not violate any rules, regulations or orders of any governmental agency or commission
having jurisdiction over the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Registered Security shall be dated
the date of its authentication except as otherwise provided by Board Resolution or Officers&rsquo; Certificate or indenture supplemental
hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The aggregate principal amount of Securities
of any series outstanding at any time may not exceed any limit upon the maximum principal amount for such series set forth in or
pursuant to the Board Resolution or Officers&rsquo; Certificate or indenture supplemental hereto delivered pursuant to Section&nbsp;2.03,
except as provided in Section&nbsp;2.08.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No Security shall be entitled to any benefit
under this Indenture or be valid or obligatory for any purpose unless there appears on such Security, a certificate of authentication
substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security
shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder. Notwithstanding
the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company,
and the Company shall deliver such Security to the Trustee for cancellation as provided in Section&nbsp;2.10 together with a written
statement stating that such Security has never been issued and sold by the Company, for all purposes of this Indenture such Security
shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.07. Exchange and Registration of Transfer
of Securities.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Company shall keep, at an office or agency to be designated and maintained by the Company in accordance with Section&nbsp;4.02
(as such, a &ldquo;Security Registrar&rdquo;), registry books (the &ldquo;Security Register&rdquo;) in which, subject to such reasonable
regulations as it may prescribe, the Company shall register Registered Securities and shall register the transfer of Registered
Securities of each such series as provided in this Article&nbsp;2. Such Security Register shall be in written form or in any other
form capable of being converted into written form within a reasonable time. At all reasonable times such Security Register shall
be open for inspection by the Trustee. Upon due presentment for registration of transfer of any Registered Security of a particular
series at such office or agency maintained pursuant to Section&nbsp;4.02 for such purpose in a Place of Payment, the Company shall
execute and register and the Trustee shall authenticate and make available for delivery in the name of the transferee or transferees
a new Registered Security or Registered Securities of such series of any authorized denominations and for an equal aggregate principal
amount and tenor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At
the option of the holder, Registered Securities of any series may be exchanged for other Registered Securities of the same series
of any authorized denominations and of an equal aggregate principal amount and tenor. Registered Securities to be exchanged shall
be surrendered at any such office or agency maintained pursuant to Section&nbsp;4.02 for such purpose in a Place of Payment, and
the Company shall execute and register and the Trustee shall authenticate and make available for delivery in exchange therefor
the Security or Securities that the securityholder making the exchange shall be entitled to receive.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All
Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing
the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of
transfer or exchange.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All Registered Securities presented for
registration of transfer or for exchange, redemption or payment, as the case may be, shall (if so required by the Company or the
Trustee) be duly endorsed by, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the
Company and the Trustee or the Security Registrar duly executed by, the holder thereof or his attorney duly authorized in writing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No service charge shall be made for any
exchange or registration of transfer of Securities, but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection therewith, other than exchanges pursuant to the terms of this Indenture
not involving any transfer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall not be required (1)&nbsp;to
exchange or register the transfer of Securities of any series to be redeemed for a period of 15 days next preceding any selection
of such Securities to be redeemed, or (2)&nbsp;to exchange or register the transfer of any Registered Security so selected, called
or being called for redemption, except in the case of any such series to be redeemed in part the portion thereof not to be so redeemed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding
the foregoing, except as otherwise specified as contemplated by Section&nbsp;2.03(b), any permanent global Security shall be exchangeable
pursuant to this Section&nbsp;only as provided in this paragraph. If the beneficial owners of interests in a permanent global Security
are entitled to exchange such interests for Securities of such series and of like tenor and principal amount of another authorized
form and denomination, as specified as contemplated by Section&nbsp;2.03(b), then without unnecessary delay but in any event not
later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee or the Security
Registrar definitive Securities of that series in aggregate principal amount equal to the principal amount of such permanent global
Security executed by the Company. On or after the earliest date on which such interests may be so exchanged, in accordance with
instructions given by the Company to the Trustee or the Security Registrar and the Depositary (which instructions shall be in writing),
such permanent global Security shall be surrendered from time to time by the Depositary or such other depositary as shall be specified
in the Company Order with respect thereto to the Trustee, as the Company&rsquo;s agent for such purpose, or to the Security Registrar,
to be exchanged, in whole or in part, for definitive Securities of the same series without charge and the Trustee shall authenticate
and make available for delivery in accordance with such instructions, in exchange for each portion of such permanent global Security,
a like aggregate principal amount of definitive Securities of the same series of authorized denominations and of like tenor as
the portion of such permanent global Security to be exchanged which shall be in the form of Registered Securities; provided, that
no such exchanges may occur for a period of 15 days next preceding any selection of Securities of that series and of like tenor
for redemption. Promptly following any such exchange in part, such permanent global Security should be returned by the Trustee
or the Security Registrar to the Depositary or such other depositary referred to above in accordance with the instructions of the
Company referred to above. If a Registered Security is issued in exchange for any portion of a permanent global Security after
the close of business at the office or agency where such exchange occurs on (i)&nbsp;any record date and before the opening of
business at such office or agency on the relevant interest payment date, or (ii)&nbsp;any special record date and before the opening
of business at such office or agency on the related proposed date for payment of defaulted interest as provided in Section&nbsp;2.05,
interest or defaulted interest, as the case may be, will not be payable on such interest payment date or proposed date for payment,
as the case may be, in respect of such Registered Security, but will be payable on such interest payment date or proposed date
for payment, as the case may be, only to the person to whom interest in respect of such portion of such permanent global Security
is payable in accordance with the provisions of this Indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding
anything contained herein to the contrary, neither the Trustee nor the Security Registrar shall be responsible for ascertaining
whether any transfer complies with the restrictions set forth in this Indenture, the registration provisions of or exemptions from
the Securities Act or applicable state securities laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.08. Temporary Securities.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pending the preparation of definitive Securities
of any series, the Company may execute and the Trustee shall, upon Company Order, authenticate and make available for delivery,
temporary Securities of such series (typewritten, printed, lithographed or otherwise produced). Such temporary Securities, in any
authorized denominations, shall be substantially in the form of the definitive Securities in lieu of which they are issued, in
registered form, in the form approved from time to time by or pursuant to a Board Resolution but with such omissions, insertions,
substitutions and other variations as may be appropriate for temporary Securities, all as may be determined by the Company, but
not inconsistent with the terms of this Indenture or any provision of applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except in the case of temporary Securities
in global form (which shall be exchanged as hereinafter provided), if temporary Securities of any series are issued, the Company
will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive
Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series
upon surrender of the temporary Securities of such series at the office or agency of the Company maintained pursuant to Section&nbsp;4.02
in a Place of Payment for such series for the purpose of exchanges of Securities of such series, without charge to the holder.
Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee
shall authenticate and make available for delivery in exchange therefor a like aggregate principal amount of definitive Securities
of the same series and of like tenor of authorized denominations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Without unnecessary delay but in any event
not later than the date specified in, or determined pursuant to the terms of, any such temporary global Security of a series (the
 &ldquo;Exchange Date&rdquo;), the Company shall deliver to the Trustee definitive Securities of that series, in aggregate principal
amount equal to the principal amount of such temporary global Security, executed by the Company. On or after the Exchange Date
such temporary global Security shall be presented and surrendered by the Depositary to the Trustee, as the Company&rsquo;s agent
for such purpose, or to the Security Registrar, to be exchanged, in whole or from time to time in part, for definitive Securities
of such series without charge, and the Trustee shall authenticate and make available for delivery, in exchange for each portion
of such temporary global Security, a like aggregate principal amount of definitive Securities of the same series of authorized
denominations and of like tenor as the portion of such temporary global Security to be exchanged.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Every temporary Security shall be executed
by the Company and be authenticated by the Trustee upon the same conditions and in substantially the same manner, and with like
effect, as the definitive Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.09. Mutilated, Destroyed, Lost or Stolen Securities.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If any mutilated Security is surrendered
to the Trustee, the Company shall execute and the Trustee shall authenticate and make available for delivery in exchange therefor
a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If there shall be delivered to the Company
and the Trustee (a)&nbsp;evidence to their satisfaction of the destruction, loss or theft of any Security and (b)&nbsp;such security
or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of
notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall, subject
to the following paragraph, execute and the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed,
lost or stolen Security, a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case any such mutilated, destroyed, lost
or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new
Security, pay such Security.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the issuance of any new Security under
this Section, the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed
in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Every new Security of any series issued
pursuant to this Section&nbsp;in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual
obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and
any such new Security, if any, shall be entitled to all the benefits of this Indenture equally and proportionately with any and
all other Securities of that series duly issued hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The provisions of this Section&nbsp;are
exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.10. Cancellation.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All Securities surrendered for payment,
redemption, exchange or registration of transfer or for credit against any sinking fund payment, as the case may be, shall, if
surrendered to the Company or any agent of the Company or of the Trustee, be delivered to the Trustee. All Registered Securities
so delivered shall be promptly cancelled by the Trustee, upon written request of the Company. The Company may deliver to the Trustee
for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner
whatsoever, and may deliver to the Trustee (or to any other person for delivery to the Trustee) for cancellation any Securities
previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly
cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided
in this Section&nbsp;except as expressly provided by this Indenture. Any cancelled Securities held by the Trustee shall be disposed
in accordance with its then customary procedures and, upon written request of the Company, the Trustee shall deliver to the Company
a certificate of such disposal. The acquisition of any Securities by the Company shall not operate as a redemption or satisfaction
of the Indebtedness represented thereby unless and until such Securities are surrendered to the Trustee for cancellation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.11. Book-Entry Only System.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If specified by the Company pursuant to
Section&nbsp;2.03(b)&nbsp;with respect to Securities represented by a Security in global form, a series of Securities may be issued
initially in book-entry only form and, if issued in such form, shall be represented by one or more Securities in global form registered
in the name of the Depositary or other depositary designated with respect thereto. So long as such system of registration is in
effect, (a)&nbsp;Securities of such series so issued in book-entry only form will not be issuable in the form of or exchangeable
for Securities in certificated or definitive registered form, (b)&nbsp;the records of the Depositary or such other depositary will
be determinative for all purposes and (c)&nbsp;neither the Company, the Trustee nor any paying agent, Security Registrar or transfer
agent for such Securities will have any responsibility or liability for (i)&nbsp;any aspect of the records relating to or payments
made on account of owners of beneficial interests in the Securities of such series, (ii)&nbsp;maintaining, supervising or reviewing
any records relating to such beneficial interests, (iii)&nbsp;receipt of notices, voting and requesting or directing the Trustee
to take, or not to take, or consenting to, certain actions hereunder, or (iv)&nbsp;the records and procedures of the Depositary,
or such other depositary, as the case may be.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Members of, or participants in, the Depositary
shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary, or the Trustee
as its custodian, or under the Global Security, 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 the Global Security for all purposes whatsoever.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;3</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;3.01. Redemption of Securities, Applicability
of Section.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Redemption of Securities of any series as
permitted or required by the terms thereof shall be made in accordance with the terms of such Securities as specified pursuant
to Section&nbsp;2.03 hereof and this Article; provided, however, that if any provision of any series of Securities shall conflict
with any provision of this Section, the provision of such series of Securities shall govern.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;3.02. Notice of Redemption, Selection of Securities.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case the Company shall desire to exercise
the right to redeem all or, as the case may be, any part of a series of Securities pursuant to Section&nbsp;3.01, it shall fix
a date for redemption. Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company,
or, at the Company&rsquo;s written request, by the Trustee in the name and at the expense of the Company. The Company or the Trustee,
as the case may be, shall give notice of such redemption, in the manner and to the extent set forth in Section&nbsp;15.04, on that
date prior to the date fixed for a redemption to the holders of such Securities so to be redeemed, as a whole or in part, (a)&nbsp;as
set forth in Board Resolutions, as described in Section&nbsp;2.03, or (b)&nbsp;as determined by the Chief Executive Officer, the
Chief Financial Officer, the President, the Treasurer, any Executive Vice President, the Secretary and each officer of the Company
designated by any of the foregoing officers (each, an &ldquo;Authorized Officer&rdquo;) and evidenced by the preparation of an
offering document or an Officers&rsquo; Certificate specifying the period of notice of such redemption. If the Board Resolutions
or an Authorized Officer do not specify a longer period of notice of such redemption, the Company or, at the written request of
the Company, the Trustee, shall give notice of such redemption, in the manner and to the extent set forth in Section&nbsp;15.04,
at least ten Business Days and not more than 60 calendar days prior to the date fixed for a redemption to the holders of such Securities
so to be redeemed as a whole or in part. Notice given in such manner shall be conclusively presumed to have been duly 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
such Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption
of any other such Security. If the Company requests the Trustee to give any notice of redemption, it shall make such request in
writing in an Officers&rsquo; Certificate delivered to the Trustee at least ten days prior to the designated date for delivering
such notice, unless a shorter period is satisfactory to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each such notice of redemption shall specify
the date fixed for redemption, the redemption price at which such Securities are to be redeemed, the CUSIP numbers of such Securities,
the Place of Payment where such Securities maturing after the date of redemption, are to be surrendered for payment of the redemption
prices, that payment will be made upon presentation and surrender of such Securities, that interest accrued to the date fixed for
redemption will be paid as specified in the notice, and that on and after the date interest thereon or on the portions thereof
to be redeemed will cease to accrue. If less than all of a series is to be redeemed, the notice of redemption shall specify the
numbers of the Securities to be redeemed. In case any Security is to be redeemed in part only, the notice of redemption shall state
the portion of the principal amount thereof to be redeemed and shall state that, upon surrender of such Security, a new Security
or Securities of the same series in principal amount equal to the unredeemed portion thereof will be issued.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On or before the redemption date specified
in the notice of redemption given as provided in this Section, the Company will deposit in trust with the Trustee or with one or
more paying agents an amount of money sufficient to redeem on the redemption date all the Securities or portions of Securities
so called for redemption at the appropriate redemption price, together with accrued interest, if any, to the date fixed for redemption.
If less than all of a series of Securities is to be redeemed, the Company will give the Trustee adequate written notice at least
45 days in advance (unless a shorter notice shall be satisfactory to the Trustee) as to the aggregate principal amount of Securities
to be redeemed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If less than all the Securities of a series
are to be redeemed, the Trustee shall select, by lot or in such other manner is it shall deem appropriate and fair, not more than
60 days prior to the date of redemption, the numbers of such Securities Outstanding not previously called for redemption, to be
redeemed in whole or in part. The portion of principal of Securities so selected for partial redemption shall be equal to the minimum
authorized denomination for Securities of that series or any integral multiple thereof. The Trustee shall promptly notify the Company
of the Securities to be redeemed. If, however, less than all the Securities of a series having differing issue dates, interest
rates and stated maturities are to be redeemed, the Company in its sole discretion shall select the particular Securities of such
series to be redeemed and shall notify the Trustee in writing at least 45 days prior to the relevant redemption date.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;3.03. Payment of Securities Called for Redemption.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If notice of redemption has been given as
above provided, the Securities or portions of Securities with respect to which such notice has been given shall become due and
payable on the date and at the place stated in such notice at the applicable redemption price, together with any interest accrued
to the date fixed for redemption, and on and after that date (unless the Company shall default in the payment of such Securities
at the redemption price, together with interest accrued to that date) interest on such Securities or portions of Securities so
called for redemption shall cease to accrue. On presentation and surrender of such Securities subject to redemption at the Place
of Payment and in the manner specified in such notice, such Securities or the specified portions thereof shall be paid and redeemed
by the Company at the applicable redemption price, together with interest accrued thereon to the date fixed for redemption; provided,
that unless otherwise specified as contemplated by Section&nbsp;2.03, installments of interest on Registered Securities whose stated
maturity date is on or prior to the date of redemption shall be payable to the holders of such Registered Securities, or one or
more predecessor Securities, registered as such at the close of business on the relevant record dates according to their terms
and the provisions of Section&nbsp;2.05.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At the option of the Company, payment with
respect to Registered Securities may be made by check to the holders of such Securities or other persons entitled thereto against
presentation and surrender of such Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any Security that is to be redeemed only
in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by,
or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the holder thereof or
such holder&rsquo;s attorney duly authorized in writing), and upon such presentation, the Company shall execute and the Trustee
shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Security or Securities
of the same series, of authorized denominations, in aggregate principal amount equal to the unredeemed portion of the principal
of the Security so presented. If a temporary global Security or permanent global Security is so surrendered, such new Security
so issued shall be a new temporary global Security or permanent global Security, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;3.04. Redemption Suspended During Event of Default.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee shall not redeem any Securities
(unless all Securities then outstanding are to be redeemed) or commence the giving of any notice of redemption of Securities during
the continuance of any Event of Default of which a Responsible Officer of the Trustee has actual knowledge or has received written
notice thereof, except that where the giving of notice of redemption of any Securities shall theretofore have been made, the Trustee
shall redeem such Securities, provided funds are deposited with it for such purpose. Except as aforesaid, any moneys theretofore
or thereafter received by the Trustee shall, during the continuance of such Event of Default, be held in trust for the benefit
of the securityholders and applied in the manner set forth in Section&nbsp;6.06; provided, that in case such Event of Default shall
have been waived as provided herein or otherwise cured, such moneys shall thereafter be held and applied in accordance with the
provisions of this Article.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.01. Payment of Principal, Premium and Interest.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will duly and punctually pay
or cause to be paid the principal of (and premium, if any, on) and any interest on each of the Securities of a series at the place,
at the respective times and in the manner provided in the terms of the Securities and this Indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.02. Offices for Notices and Payments.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If Securities of a series are issuable only
as Registered Securities, the Company will maintain in each Place of Payment for such series an office or agency where Securities
of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration
of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this
Indenture may be served.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will give to the Trustee notice
of the location of each such office or agency and of any change in the location thereof. In case the Company shall fail to maintain
any such office or agency as required, or shall fail to give such notice of the location or of any change in the location thereof,
presentations and surrenders of Securities of that series may be made and notices and demands may be served at the Corporate Trust
Office of the Trustee, and the Company hereby appoints the same as its agent to receive such respective presentations, surrenders,
notices and demands.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company may also from time to time designate
one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations; provided, that no such designation or rescission shall in any
manner relieve the Company of its obligation to maintain an office or agency in accordance with the requirements set forth above
for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee and the holders 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company hereby initially designates
the principal Corporate Trust Office of the Trustee as the office of the Company where Registered Securities may be presented for
payment, for registration of transfer and for exchange as in this Indenture provided and where notices and demands to or upon the
Company in respect of the Securities or of this Indenture may be served; provided, however, that the Trustee shall not be deemed
an agent of the Company for service of legal process.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.03. Provisions as to Paying Agent.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Whenever
the Company shall appoint a paying agent other than the Trustee with respect to the Securities of any series, it will cause such
paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the
provisions of this Section:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>that
it will hold sums held by it as such agent for the payment of the principal of (and premium, if any, on) or any interest on the
Securities of such series (whether such sums have been paid to it by the Company or by any other obligor on the Securities of such
series) in trust for the benefit of the persons entitled thereto until such sums shall be paid to such persons or otherwise disposed
of as herein provided and will notify the Trustee of the receipt of sums to be so held;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>that
it will give the Trustee notice of any failure by the Company (or by any other obligor on the Securities of such series) to make
any payment of the principal of (or premium, if any, on) or any interest on the Securities of such series when the same shall be
due and payable; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>that
at any time when any such failure has occurred and is continuing, it will, upon the written request of the Trustee, forthwith pay
to the Trustee all sums so held in trust by such paying agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If
the Company shall act as its own paying agent, it will, on or before each due date of the principal of (and premium, if any) or
any interest on the Securities of any series, set aside, segregate and hold in trust for the benefit of the persons entitled thereto
a sum sufficient to pay such principal (and premium, if any) or any interest so becoming due until such sums shall be paid to such
persons or otherwise disposed of as herein provided. The Company will promptly notify the Trustee of any failure to take such action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Whenever
the Company shall have one or more paying agents with respect to a series of Securities, it will, on or prior to each due date
of the principal of (and premium, if any, on) or any interest on, any Securities, deposit with a paying agent a sum sufficient
to pay the principal (and premium, if any) or any interest, so becoming due, such sum to be held in trust for the benefit of the
Persons entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly
notify the Trustee of its action or failure so to act.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Anything
in this Section&nbsp;to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining the satisfaction
and discharge of this Indenture with respect to one or more or all series of Securities hereunder, or for any other reason, pay
or cause to be paid to the Trustee all sums held in trust for such series by it or any paying agent hereunder as required by this
Section, such sums to be held by the Trustee upon the trusts herein contained, and upon such payment by any paying agent to the
Trustee, such paying agent shall be released from all further liability with respect to such money.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Anything
in this Section&nbsp;to the contrary notwithstanding, the agreement to hold sums in trust as provided in this Section&nbsp;is subject
to the provisions of Section&nbsp;12.03 and Section&nbsp;12.04.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.04. Statement as to Compliance.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will deliver to the Trustee,
within 120 days after the end of each fiscal year of the Company, commencing with the fiscal year ending in the year during which
the first series of Securities is issued hereunder (but in no event more than one year from the issuance of the first series hereunder),
an Officers&rsquo; Certificate signed by the Chief Executive Officer, President or other principal executive officer and by the
Chief Financial Officer or other principal financial officer or principal accounting officer, Assistant Secretary, Treasurer or
Controller of the Company, stating, as to each signer thereof, that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>a
review of the activities of the Company during such year and of performance under this Indenture has been made under his supervision;
and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
the best of his knowledge, based on such review, the Company has fulfilled all its obligations under this Indenture throughout
such year, or, if there has been a default in the fulfillment of any such obligation, specifying each such default known to him
and the nature and status thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.05. Corporate Existence.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Article&nbsp;11,
the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence,
rights (charter and statutory) and franchises and the corporate existence and rights (charter and statutory) and franchises of
its Subsidiaries; provided, that except as set forth in Section&nbsp;4.06 below, the Company shall not be required to, or to cause
any Subsidiary to, preserve any right or franchise or to keep in full force and effect the corporate existence of any Subsidiary
if the Company shall determine that the keeping in existence or preservation thereof is no longer desirable in or consistent with
the conduct of the business of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.06. Ownership of Material Subsidiary Stock.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as otherwise specified with respect
to a series of Securities in accordance with the provisions of Section&nbsp;2.1 and subject to the provisions of Article&nbsp;11,
so long as any of the Securities are outstanding, the Company:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>will
not, nor will it permit the Material Subsidiary to, directly or indirectly, sell, assign, pledge, transfer or otherwise dispose
of any shares of, securities convertible into, or options, warrants or rights to subscribe for or purchase shares of, Voting Stock
of the Material Subsidiary, nor will the Company permit the Material Subsidiary to issue any shares of, or securities convertible
into, or options, warrants or rights to subscribe for or purchase shares of, Voting Stock of the Material Subsidiary if, in each
case, after giving effect to any such transaction and to the issuance of the maximum number of shares of Voting Stock of the Material
Subsidiary issuable upon the exercise of all such convertible securities, options, warrants or rights, the Company would cease
to own, directly or indirectly, at least 80% of the issued and outstanding Voting Stock of the Material Subsidiary; and</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>will
not permit the Material Subsidiary to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>merge
or consolidate with or into any corporation or other Person, unless the Company is the surviving corporation or Person, or unless,
upon consummation of the merger or consolidation, the Company will own, directly or indirectly, at least 80% of the surviving corporation&rsquo;s
issued and outstanding Voting Stock;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>lease,
sell, assign or transfer all or substantially all of its properties and assets to any Person (other than the Company), unless,
upon such sale, assignment or transfer, the Company will own, directly or indirectly, at least 80% of the issued and outstanding
Voting Stock of that Person; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>pay
any dividend in Voting Stock of a Material Subsidiary or make any other distribution in Voting Stock of a Material Subsidiary,
unless the Material Subsidiary to which the transaction relates, after obtaining any necessary regulatory approvals, unconditionally
guarantees payment of the principal and any premium and interest on the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the foregoing, any such
sale, assignment, pledge or transfer of securities, any such merger or consolidation or any such lease, sale, assignment, pledge
or transfer of properties and assets shall not be prohibited if: (A)&nbsp;required by law, such lease, sale, assignment or transfer
of securities is made to any Person for the purpose of the qualification of such Person to serve as a director; (B)&nbsp;such lease,
sale, assignment or transfer of securities is made by the Company or any of its Subsidiaries acting in a fiduciary capacity for
any Person other than the Company or any Subsidiary; (C)&nbsp;made in connection with the consolidation of the Company with or
the sale, lease or conveyance of all or substantially all of the assets of the Company to, or merger of the Company with or into
any other Person (as to which Article&nbsp;11 of this Indenture shall apply); or (D)&nbsp;required as a condition imposed by any
law or any rule, regulation or order of any governmental agency or authority to the acquisition by the Company, directly or indirectly,
through purchase of stock or assets, merger, consolidation or otherwise, of any Person; provided, that, in the case of (D)&nbsp;only,
after giving effect to such disposition and acquisition, (y)&nbsp;at least 80% of the issued and outstanding Voting Stock of such
Person will be owned, directly or indirectly, by the Company and (z)&nbsp;the consolidated assets of the Company will be at least
equal to 70% of the consolidated assets of the Company prior thereto; and nothing in this Section&nbsp;4.06 shall prohibit the
Company or the Material Subsidiary from the sale or transfer of assets pursuant to any securitization transaction or the pledge
of any assets to secure borrowings incurred in the ordinary course of business, including, without limitation, deposit liabilities,
mortgage escrow funds, reverse repurchase agreements, Federal Home Loan Bank of Dallas, recourse obligations incurred in connection
with the Material Subsidiary&rsquo;s lending activities and letters of credit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.07. Waiver of Covenants.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company may omit in any particular instance
to comply with any covenant or condition set forth herein if before or after the time for such compliance the holders of a majority
in principal amount of the Securities of all series affected thereby then Outstanding shall either waive such compliance in such
instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant
or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company
in respect of any such covenant or condition shall remain in full force and effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;5</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITYHOLDER LISTS AND REPORTS BY THE
COMPANY AND THE TRUSTEE</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;5.01. Securityholder Lists.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants and agrees that it
will furnish or cause to be furnished to the Trustee (1)&nbsp;semiannually, within 15 days before each record date when any Securities
of a series are Outstanding, a list, in such form as the Trustee may reasonably require, of all information in the possession or
control of the Company as to the names and addresses of the holders of such Registered Securities as of such date, and (2)&nbsp;at
such other times as the Trustee may request in writing, within 10 days after receipt by the Company of any such request, a list,
in such form as the Trustee may reasonably require, of all information in the possession or control of the Company as to the names
and addresses of the holders of Registered Securities of a particular series specified by the Trustee as of a date not more than
15 days prior to the time such information is furnished; provided, that if and so long as the Trustee shall be the Security Registrar
with respect to such series, such list shall not be required to be furnished.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;5.02. Preservation and Disclosure of Lists.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the
holders of each series of Securities contained in the most recent list furnished to it as provided in Section&nbsp;5.01 or received
by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in Section&nbsp;5.01
upon receipt of a new list so furnished.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Securityholders
may communicate as provided in Section&nbsp;312(b)&nbsp;of the Trust Indenture Act with other securityholders with respect to their
rights under this Indenture or under the Securities. The Company, the Trustee, the Security Registrar and anyone else shall have
the protection of Section&nbsp;312(c)&nbsp;of the Trust Indenture Act with respect to the sending of any material pursuant to a
request made pursuant to Section&nbsp;312(b)&nbsp;of the Trust Indenture Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;5.03. Reports by the Company.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Company covenants so long as Securities are Outstanding, the Company shall file with the Trustee and the Commission, and transmit
to holders, copies of such information, documents and other reports, and such summaries thereof, as may be required pursuant to
the Trust Indenture Act at the times and in the manner provided pursuant to such Act; provided, that with respect to any such information,
documents or reports required to be filed with the Commission pursuant to Section&nbsp;13 or 15(d)&nbsp;of the Exchange Act, the
Company intends to file such information, documents or reports with the Commission in electronic form in accordance with Regulation
S-T of the Commission using the Commission&rsquo;s Electronic Data Gathering, Analysis and Retrieval system. Compliance with the
foregoing, or any successor electronic system approved by the Commission, will constitute delivery by the Company of such reports
to the Trustee and holders in compliance with the Trust Indenture Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding
anything to the contrary herein, the Trustee will have no duty to search for or obtain any electronic or other filings that the
Company makes with the Commission, regardless of whether such filings are periodic, supplemental or otherwise. Delivery of the
reports, information and documents to the Trustee in accordance with this Section&nbsp;5.03 will be solely for the purposes of
compliance with Section&nbsp;314(a)&nbsp;of the Trust Indenture Act. The Trustee&rsquo;s receipt of such reports, information and
documents (whether or not filed in electronic form) is for informational purposes only and the Trustee&rsquo;s receipt of such
will not constitute actual or constructive notice of any information contained therein or determinable from information contained
therein, including the Company&rsquo;s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers&rsquo; Certificates). The Trustee shall have no liability or responsibility for the filing, content or
timelines of any report hereunder aside from any report transmitted under this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;5.04. Reports by the Trustee.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Within
60 days after [ ] of each year commencing with the first [ ] following the first issuance of Securities pursuant to Section&nbsp;2.01,
so long as any Securities are outstanding hereunder and if there has been any change in the following, the Trustee shall transmit
by mail, first-class postage prepaid, to the securityholders, as their names appear upon the Security Register, a brief report
dated as of such [ ] with respect to any of the events specified in Section&nbsp;313(a)&nbsp;and Section&nbsp;313(b)(2)&nbsp;of
the Trust Indenture Act that may have occurred since the later of the immediately preceding [ ] and the date of this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Trustee shall transmit the reports required by Section&nbsp;313(a)&nbsp;of the Trust Indenture Act at the times specified therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Trustee shall comply with Sections 313(b)&nbsp;and 313(c)&nbsp;of the Trust Indenture Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Reports
under this Section&nbsp;will be transmitted in the manner and to the Persons required by Section&nbsp;313(c)&nbsp;and Section&nbsp;313(d)&nbsp;of
the Trust Indenture Act. The Company agrees to notify the Trustee when any Securities become listed on any stock exchange.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.01. Events of Default; Acceleration of Maturity.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case one or more of the following Events
of Default with respect to a particular series shall have occurred and be continuing:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>default
in (i)&nbsp;the payment of the principal of (or premium, if any, on) any of the Securities of such series as and when the same
shall become due and payable either at maturity, upon redemption, by declaration or otherwise or (ii)&nbsp;any payment required
by any sinking or analogous fund established with respect to that series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>default
in the payment of any installment of interest upon any of the Securities of such series as and when the same shall become due and
payable, and continuance of such default for a period of 90 days;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>failure
on the part of the Company duly to observe or perform any other of the covenants or agreements on the part of the Company contained
in the Securities or in this Indenture for a period of 90 days after the date on which written notice of such failure, requiring
the Company to remedy the same, shall have been given to the Company by the Trustee, or to the Company and the Trustee by the holders
of at least 25% in aggregate principal amount of the Securities of that series at the time Outstanding;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>a
court having jurisdiction in the premises shall enter a decree or order for relief in respect of the Company or the Material Subsidiary
in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing
a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Company or any Material Subsidiary
or for any substantial part of their respective property, or ordering the winding-up or liquidation of its affairs and such decree
or order shall remain unstayed and in effect for a period of 60 consecutive days;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Company or the Material Subsidiary shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar
law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case under any such law,
or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator
(or similar official) of the Company or the Material Subsidiary or for any substantial part of their respective property, or shall
make any general assignment for the benefit of creditors; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
other Event of Default provided with respect to Securities of that series; then, if an Event of Default described in clause (a),
(b), (c), or (f)&nbsp;shall have occurred and be continuing, and in each and every such case, unless the principal amount of all
the Securities of such series shall have already become due and payable, either the Trustee or the holders of not less than 25%
in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company
(and to the Trustee if given by securityholders) may declare the principal amount of all the Securities (or, with respect to Original
Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities) of that series to be due and
payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in
this Indenture or in the Securities of such series contained to the contrary notwithstanding; or, if an Event of Default described
in clause (d)&nbsp;or (e)&nbsp;shall have occurred and be continuing, and in each and every such case, unless the principal of
all the Securities of such series shall have already become due and payable, either the Trustee or the holders of not less than
25% in aggregate principal amount of all the Securities of that series then Outstanding hereunder, by notice in writing to the
Company (and to the Trustee if given by securityholders), may declare the principal of all the Securities (or, with respect to
Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities) to be due and payable
immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture
or in the Securities contained to the contrary notwithstanding.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.02. Rescission and Annulment</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The provisions in Section&nbsp;6.01 are
subject to the condition that if, at any time after the principal of the Securities of any one or more of all series, as the case
may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall
have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient
to pay all matured installments of interest upon all the Securities of such series or of all the Securities, as the case may be,
and the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or,
with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which
shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any) and, to the extent
that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the
rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original
Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon
maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount
as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses
and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence or willful misconduct, and
any and all defaults under the Indenture, other than the non-payment of the principal of Securities that has become due by acceleration,
shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities
of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee,
may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated
as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall
extend to or shall affect any subsequent default or shall impair any right consequent thereon.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case the Trustee shall have proceeded
to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission
and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company,
the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder,
and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as
though no such proceedings had been taken.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.03. Collection of Indebtedness and Suits for
Enforcement by Trustee.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>default
is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default
continues for a period of 90 days, or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>default
is made in the payment of the principal or premium, if any, of any Security at the maturity thereof, including any maturity occurring
by reason of a call for redemption or otherwise, the Company will, upon demand of the Trustee, pay to it, for the benefit of the
holders of such Securities, the whole amount that shall have become due and payable on such Securities for principal or premium,
if any, and interest, with interest upon the overdue principal and, to the extent that payment of such interest shall be legally
enforceable, upon overdue installments of interest, at the rate borne by such Securities; and, in addition thereto, such further
amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Company fails to pay such amounts
forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding
for the collection of the sums so due and unpaid, and may prosecute such proceedings to judgment or final decree, and may enforce
the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable
in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If an Event of Default occurs and is continuing,
the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the securityholders by such appropriate
judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific
enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce
any other proper remedy.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.04. Trustee May&nbsp;File Proofs of Claim.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the case of the pendency of a receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative
to the Company or any other obligor upon the Securities or the property of the Company or such other obligor or their creditors,
the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration
or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal
or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
file and prove a claim for the whole amount of principal and premium, if any, and any interest owing and unpaid in respect of the
Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee
(including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel)
and of the holders of Securities allowed in such judicial proceeding; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any
receiver, assignee, trustee, liquidator or sequestrator (or other similar official) in any such judicial proceeding is hereby authorized
by each holder of Securities 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 of Securities, to pay to the Trustee any amount due to it for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section&nbsp;7.06.
To the extent that such payment of reasonable compensation, expenses, disbursements, advances and other amounts out of the estate
in any such proceedings 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, moneys, securities and other property which the holders of the Securities may be entitled
to receive in such proceedings, whether in liquidation or under any plan or reorganization or arrangements or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Nothing herein contained shall be deemed
to authorize the Trustee to authorize or consent to or accept or adopt on behalf of the holder of a Security any plan of reorganization,
arrangement, adjustment or composition affecting the Securities or the rights of any holder thereof, or to authorize the Trustee
to vote in respect of the claim of any holder of a Security in any such proceeding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.05. Trustee May&nbsp;Enforce Claims Without
Possession of Securities.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All rights of action and claims under this
Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the
production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its
own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Securities
in respect of which such judgment has been recovered.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.06. Application of Money Collected.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any money collected by the Trustee pursuant
to this Article&nbsp;shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution
of such money on account of principal or premium, if any, or any interest, upon presentation of the Securities, as the case may
be, and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FIRST: To the payment of all amounts due
the Trustee under Section&nbsp;7.06 or 14.05;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECOND: To the payment of all senior Indebtedness
of the Company if and to the extent required by Article&nbsp;16;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIRD: To the payment of the amounts then
due and unpaid upon the Securities for principal of and premium, if any, and any interest on the Securities, in respect of which
or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the
amounts due and payable on such Securities, for principal and any interest, respectively; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FOURTH: To the Company or its successors
or assigns, or to whomsoever may be lawfully entitled to receive the same.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.07. Limitation on Suits.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No holder of any Security of any series
shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment
of a receiver or trustee, or for any other remedy hereunder, unless:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>such
holder has previously given written notice to the Trustee of a continuing Event of Default;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made written request to
the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(3)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>such
holder or holders have offered to the Trustee indemnity against the costs, expenses and liabilities to be incurred in compliance
with such request;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(4)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceedings;
and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(5)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>no
direction inconsistent with such written request has been given to the Trustee during such 60-day period by the holders of a majority
in principal amount of the Outstanding Securities; it being understood and intended that no one or more such holders of Securities
shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb
or prejudice the rights of any other of such holders of Securities or to obtain or to seek to obtain priority or preference over
any other of such holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal
and ratable benefit of all such holders of Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.08. Unconditional Right of Securityholders
to Receive Principal and Interest.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding any other provision in this
Indenture, the holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal
of and premium, if any, and (subject to Section&nbsp;2.05 and Section&nbsp;3.02) any interest on such Security on the respective
stated maturities expressed in such Security (or, in the case of redemption, on the redemption date) and to institute suit for
the enforcement of any such payment, and such right shall not be impaired without the consent of such holder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.09. Restoration of Rights and Remedies.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Trustee or any holder of a Security
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 the Company,
the Trustee and the holders of Securities shall, subject to any determination in such proceeding, 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.10. Rights and Remedies Cumulative.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as provided in Section&nbsp;2.09,
no right or remedy herein conferred upon or reserved to the Trustee or to the holders of Securities is intended to be exclusive
of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment
of any right or remedy hereunder or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate
right or remedy.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.11. Delay or Omission Not Waiver.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No delay or omission of the Trustee or of
any holder of any Security to exercise any right or remedy accruing upon any Default shall impair any such right or remedy or constitute
a waiver of any such Default or any acquiescence therein. Every right and remedy given by this Article&nbsp;or by law to the Trustee
or to the holders of Securities may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or
by the holders of Securities, as the case may be.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.12. Control by Securityholders.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The holders of a majority in principal amount
of Outstanding Securities of each series shall have the right to direct the time, method and place of conducting any proceeding
for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee, provided that</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>such
direction shall not be in conflict with any statute, rule&nbsp;of law or with this Indenture;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(3)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee need not take any action which it in good faith determines might involve it in personal liability or be unjustly prejudicial
to the securityholders not consenting (provided, however, that the Trustee shall not have an affirmative obligation to determine
whether such action is unduly prejudicial to the securityholders not consenting).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon receipt by the Trustee of any such
direction with respect to Securities of a series all or part of which is represented by a temporary global Security or a permanent
global Security, the Trustee shall establish a record date for determining holders of Outstanding Securities of such series entitled
to join in such direction, which record date shall be at the close of business on the day the Trustee receives such direction.
The holders on such record date, or their duly designated proxies, and only such persons, shall be entitled to join in such direction,
whether or not such holders remain holders after such record date, provided that, unless such majority in principal amount shall
have been obtained prior to the day which is 90 days after such record date, such direction shall automatically and without further
action by any holder be cancelled and of no further effect. Nothing in this paragraph shall prevent a holder, or a proxy of a holder,
from giving, after expiration of such 90-day period, a new direction identical to a direction which has been cancelled pursuant
to the proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this
Section&nbsp;6.12.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.13. Waiver of Past Defaults.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The holders of a majority in principal amount
of the Securities of each series at the time Outstanding may, on behalf of the holders of all the Securities of that series, waive
any past default hereunder and its consequences, except a default:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>in
the payment of the principal of, premium, if any, or any interest on any Security; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>in
respect of a covenant or provision hereof that pursuant to Article&nbsp;10 cannot be modified or amended without the consent of
the holder of each Outstanding Security affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon any such waiver, such default shall
cease to exist, and any Default or 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.14. Undertaking for Costs.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All parties to this Indenture agree, and
each holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require,
in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action
taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of
such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys&rsquo; fees, against
any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant;
but the provisions of this Section&nbsp;shall not apply to any suit instituted by the Trustee, to any suit instituted by any holder,
or group of holders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities of any series, or
to any suit instituted by any holder of any Securities for the enforcement of the payment of the principal of, premium, if any,
or any interest on any Security on or after the respective stated maturities expressed in such Security (or, in the case of redemption,
on or after the redemption date, except, in the case of a partial redemption, with respect to the portion not so redeemed).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.15. Waiver of Stay or Extension Laws.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants (to the extent that
it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit
or advantage of, any stay or extension laws wherever enacted, now or at any time hereafter in force, which may affect the covenants
or the performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefits
or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted
to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;7</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONCERNING THE TRUSTEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.01. Duties and Responsibilities of Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Trustee, prior to the occurrence of an Event of Default of a particular series and after the curing of all Events of Default of
such series which may have occurred, undertakes to perform such duties and only such duties with respect to such series as are
specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the
Trustee. In the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements
and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming
to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically
required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they
conform on their face to the requirements of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In
case an Event of Default with respect to a particular series has occurred (which has not been cured), the Trustee shall exercise
with respect to such series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill
in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
provisions of this Indenture shall be construed to relieve the Trustee 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>prior
to the occurrence of an Event of Default with respect to a particular series and after the curing of all Events of Default with
respect to such series which may have occurred, the duties and obligations of the Trustee with respect to such series shall be
determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of
such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read
into this Indenture against the Trustee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2)<FONT STYLE="font-size: 10pt">&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 or Officers, 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3)<FONT STYLE="font-size: 10pt">&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 or omitted to be taken by it in good faith in accordance with the
direction of the holders of Securities pursuant to Section&nbsp;6.12 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: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
provision of this Indenture shall be construed as requiring the Trustee to expend or risk its own funds or otherwise to incur any
personal 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 for believing that repayment of such funds or adequate indemnity against such risk or liability
is not reasonably assured to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.02. Reliance on Documents, Opinions,&nbsp;etc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Section&nbsp;7.01:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, consent, order, judgement, bond, debenture, note, coupon or other paper or document believed
by it to be genuine and to have been signed or presented by the proper party or parties not only as the due execution, validity
and effectiveness, but also as to the truth and accuracy of any information contained herein. The Trustee need not investigate
any fact or matter stated in the document;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company
Order (unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to
the Trustee by a copy thereof certified by the Secretary or any Assistant Secretary of the Company; and whenever in the administration
of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting
any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on
its part, rely upon an Officers&rsquo; Certificate and/or Opinion of Counsel;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&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 of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance
thereon;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order
or direction of any of the holders of any Securities pursuant to the provisions of this Indenture, unless such holders shall have
offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might
be incurred therein or thereby;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper or documents,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit,
and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records
and premises of the Company, personally or by agent or attorney;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)<FONT STYLE="font-size: 10pt">&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
or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed
with due care by it hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall not be liable for any action taken, suffered or omitted to be taken by it in good faith and believed by it to be
authorized or within the discretion or rights or powers conferred upon it by this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>in
no event will the Trustee be responsible or liable for special, indirect, incidental, punitive 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>in
no event will 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 reasonable control, including, without limitation, strikes, pandemics,
work stoppages, accidents, acts of war or terrorism, civil or military disturbances, sabotage, epidemics, riots, nuclear or natural
catastrophes, earthquakes, fires, floods, or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software or hardware) services, labor disputes, acts of civil or military authorities and governmental actions, or
the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility; it being understood that
the Trustee will use reasonable efforts that 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: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(j)<FONT STYLE="font-size: 10pt">&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 hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(k)<FONT STYLE="font-size: 10pt">&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; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(l)<FONT STYLE="font-size: 10pt">&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 other than for its negligence or willful misconduct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.03. No Responsibility for Recitals,&nbsp;etc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The recitals contained herein and in the
Securities, other than the Trustee&rsquo;s certificate of authentication, shall be taken as the statements of the Company, and
the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity
or sufficiency of this Indenture or of the Securities, provided that the Trustee shall not be relieved of its duty to authenticate
Securities only as authorized by this Indenture. The Trustee shall not be accountable for the use or application by the Company
of Securities or the proceeds thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.04. Ownership of Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee, any authenticating agent, any
paying agent, any Security Registrar or any other agent of the Company or of the Trustee, in its individual or any other capacity,
may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, authenticating agent,
paying agent, Security Registrar or such other agent of the Company or of the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.05. Moneys to be Held in Trust.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Section&nbsp;12.04
hereof, all moneys received by the Trustee or any paying agent shall, until used or applied as herein provided, be held un-invested
in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required
by law. Neither the Trustee nor any paying agent shall be under any liability for interest on any moneys received by it hereunder
except such as it may agree in writing with the Company to pay thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.06. Compensation and Expenses of Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants and agrees to pay
to the Trustee from time to time, and the Trustee shall be entitled to, such compensation for all services rendered by it hereunder
as agreed in writing between the Company and the Trustee (which to the extent permitted by law shall not be limited by any provision
of law in regard to the compensation of a trustee of an express trust), and, except as otherwise expressly provided, the Company
will pay or reimburse the Trustee forthwith upon its request for all reasonable expenses, disbursements and advances incurred or
made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses
and disbursements of its counsel and of all persons not regularly in its employ) except any such expense, disbursement or advance
as may arise from its negligence or willful misconduct. If any property other than cash shall at any time be subject to the lien
of this Indenture, the Trustee, if and to the extent authorized by a receivership or bankruptcy court of competent jurisdiction
or by the supplemental instrument subjecting such property to such lien, shall be entitled to make and to be reimbursed for, advances
for the purpose of preserving such property or of discharging tax liens or other prior liens or encumbrances thereon. The Company
also covenants to indemnify each of the Trustee and any predecessor Trustee for, and to hold it harmless against, any and all loss,
damage, claims, suit, liability or expense, (including attorney&rsquo;s fees and expenses, and taxes (other than taxes based upon,
measured or determined by, the income of the Trustee)) incurred without negligence or willful misconduct on the part of the Trustee,
arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of defending
itself against any claim of liability, whether asserted by the Company, a Holder or any other person. The obligations of the Company
under this Section&nbsp;shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a
lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in
trust for the benefit of the holders of particular Securities. This indemnification shall apply to officers, directors, employees,
shareholders and agents of the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To secure the Company&rsquo;s obligations
under this Section, the Trustee shall have a senior claim to which the Securities are hereby made subordinate on all money or property
held or collected by the Trustee, except that held in trust to pay principal of (and premium, if any) and interest, if any, on
particular Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">When the Trustee incurs expenses or renders
services after an Event of Default, the expenses and the compensation for the services are intended to constitute expenses of administration
under any bankruptcy law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The provisions of this Section&nbsp;shall
survive the resignation or removal of the Trustee and the termination of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.07. Officers&rsquo; Certificate or Opinion
of Counsel as Evidence.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Section&nbsp;7.01,
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 bad faith on the part of the Trustee, be deemed
to be conclusively proved and established by an Officers&rsquo; Certificate or Opinion of Counsel delivered to the Trustee, and
such certificate or opinion, in the absence of negligence or bad faith 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.08. Disqualifications; Conflicting Interest
of Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Trustee has or shall acquire any
 &ldquo;conflicting interest&rdquo; within the meaning of the Trust Indenture Act, the Trustee and the Company shall in all respects
comply with the provisions of Section&nbsp;310(b)&nbsp;of the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.09. Eligibility of Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There shall at all times be a Trustee hereunder
which shall be a corporation organized and doing business under the laws of the United States or of any State or Territory thereof
or of the District of Columbia, which (a)&nbsp;is authorized under such laws to exercise corporate trust powers, (b)&nbsp;is subject
to supervision or examination by federal, state, territorial or District of Columbia authority, (c)&nbsp;shall have at all times
a combined capital and surplus of not less than $50,000,000 and (d)&nbsp;shall not be the Company or any person directly or indirectly
controlling, controlled by, or under common control with the Company. If such corporation publishes reports of condition at least
annually, pursuant to law, or to the requirements of the aforesaid supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such corporation at any time shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified
in Section&nbsp;7.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.10. Resignation or Removal of Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series by giving
written notice of resignation to the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor
trustee with respect to the applicable series by written instrument, in duplicate, executed by order of the Board of Directors,
one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor
trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation,
the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee at the expense
of the Company. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In
case at any time any of the following shall occur:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall fail to comply with Section&nbsp;7.08 with respect to any series of Securities after written request therefor by
the Company or by any securityholder who has been a bona fide holder of a Security or Securities of such series for at least six
months, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall cease to be eligible in accordance with the provisions of Section&nbsp;7.09 with respect to any series of Securities
and shall fail to resign after written request therefor by the Company or by any such securityholder, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent,
or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee
or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, the Company
may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee with respect to such
series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be
delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section&nbsp;6.14,
any securityholder of such series who has been a bona fide holder of a Security or Securities of the applicable series for at least
six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal
of the Trustee and the appointment of a successor trustee with respect to such series. Such court may thereupon, after such notice,
if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Upon
30 days&rsquo; prior written notice, the holders of a majority in aggregate principal amount of the Securities of all series (voting
as one class) at the time Outstanding may at any time remove the Trustee with respect to Securities of all series and appoint a
successor trustee with respect to the Securities of all series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any
resignation or removal of the Trustee and any appointment of a successor trustee pursuant to any of the provisions of this Section&nbsp;shall
become effective upon the appointment of a successor trustee and the acceptance of appointment by the successor trustee as provided
in Section&nbsp;7.11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.11. Acceptance by Successor Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any successor trustee appointed as provided
in Section&nbsp;7.10 shall execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting
such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee with respect to all or any applicable
series shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with
all the rights, powers, duties and obligations with respect to such series of its predecessor hereunder, with like effect as if
originally named as trustee herein; but, nevertheless, on the written request of the Company or of the successor trustee, the predecessor
trustee shall, upon payment of any amounts then due it pursuant to the provisions of Section&nbsp;7.06, execute and deliver an
instrument transferring to such successor trustee all the rights and powers of the predecessor trustee. Upon request of any such
successor trustee, the Company shall execute any and all instruments in writing in order more fully and certainly to vest in and
confirm to such successor trustee all such rights and powers. Any trustee, including the initial Trustee, ceasing to act shall,
nevertheless, retain a lien upon all property or funds held or collected by such trustee to secure any amounts then due it pursuant
to the provisions of Section&nbsp;7.06.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case of the appointment hereunder of
a successor trustee with respect to the Securities of one or more (but not all) series, the Company, the predecessor Trustee and
each successor trustee with respect to the Securities of any applicable series shall execute and deliver an indenture supplemental
hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts
and duties of the predecessor Trustee with respect to the Securities of any series as to which the predecessor Trustee is not retiring
shall continue to be vested in the predecessor Trustee, and shall add to or change any of the provisions of this Indenture as shall
be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, it being understood
that nothing herein or in such supplemental indenture shall constitute such trustees co-trustees of the same trust and that each
such trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered
by any other such trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No successor trustee shall accept appointment
as provided in this Section&nbsp;unless at the time of such acceptance such successor trustee shall be qualified and eligible under
the provisions of this Article&nbsp;7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon acceptance of appointment by a successor
trustee as provided in this Section, the Company shall mail notice of the succession of such trustee hereunder to all holders of
Securities of any applicable series as the names and addresses of such holders shall appear on the registry books. If the Company
fails to mail such notice in the prescribed manner within ten days after the acceptance of appointment by the successor trustee,
the successor trustee shall cause such notice to be so mailed at the expense of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.12. Successor by Merger,&nbsp;etc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any corporation into which the Trustee may
be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation
to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business
of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be qualified and eligible under
the provisions of this Article&nbsp;7, without the execution or filing of any paper or any further act on the part of any of the
parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been authenticated, but not
delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may
adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself
authenticated such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.13. Limitations on Rights of Trustee as Creditor.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee shall comply with Section&nbsp;311(a)&nbsp;of
the Trust Indenture Act, excluding any creditor relationship described in Section&nbsp;311(b)&nbsp;of the Trust Indenture Act.
A Trustee who has resigned or been removed shall be subject to Section&nbsp;311(a)&nbsp;of the Trust Indenture Act to the extent
included therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.14. Notice of Default.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Within 90 days after the occurrence of any
default on a series of Securities hereunder of which a Responsible Officer of the Trustee has received notice or is deemed to have
notice in accordance with this Section&nbsp;7.14, the Trustee shall transmit to all securityholders of that series, in the manner
and to the extent provided in Section&nbsp;15.04, notice of such default hereunder actually known to a Responsible Officer of the
Trustee, unless such default shall have been cured or waived; provided, that except in the case of a default in the payment of
the principal of or interest on any Security or on the payment of any sinking or purchase fund installment, the Trustee shall be
protected in withholding such notice if and so long as a Responsible Officer of the Trustee in good faith determine that the withholding
of such notice is in the interests of the securityholders; and provided, further, that in the case of any default of the character
specified in clause (c)&nbsp;of Section&nbsp;6.01 no such notice to securityholders shall be given until at least 30 days after
the occurrence thereof. The Trustee will not be required to take notice or be deemed to have notice of any default or Event of
Default, except failure by the Company to pay or cause to be made any of the payments required to be made to the Trustee, unless
a Responsible Officer shall receive written notice of such default or Event of Default from the Company or by the holders of at
least 25% in aggregate principal amount of the then Outstanding Securities delivered to the Corporate Trust Office of the Trustee
and such notice states that it is a notice of a default or Event of Default with respect to the Securities and this Indenture,
and in the absence of such notice so delivered the Trustee may conclusively assume no default or Event of Default exists. For the
purpose of this Section, the term &ldquo;default&rdquo; means any event which is, or after notice or lapse of time or both would
become, an Event of Default with respect to Securities of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.15. Appointment of Authenticating Agent.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee may appoint an authenticating
agent or agents (which may be an affiliate or affiliates of the Company) with respect to one or more series of Securities which
shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon original issue or upon
exchange, registration of transfer or partial redemption thereof or pursuant to Section&nbsp;2.09, and Securities so authenticated
shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the
Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee
or the Trustee&rsquo;s certificate of authentication, such reference shall be deemed to include authentication and delivery on
behalf of the Trustee by an authenticating agent and a certificate of authentication executed on behalf of the Trustee by an authenticating
agent. Each authenticating agent shall be acceptable to the Company and shall at all times be a corporation organized and doing
business under the laws of the United States of America or of any State or Territory thereof or of the District of Columbia, which
(a)&nbsp;is authorized under such laws to exercise corporate trust powers or to otherwise act as authenticating agent, (b)&nbsp;is
subject to supervision or examination by federal, state, territorial or District of Columbia authority, and (c)&nbsp;shall have
at all times a combined capital and surplus of not less than $50,000,000. If such authenticating agent publishes reports of condition
at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such authenticating agent shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. If at any time an authenticating agent shall cease to be eligible
in accordance with the provisions of this Section, such authenticating agent shall resign immediately in the manner and with the
effect specified in this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any corporation into which an authenticating
agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which such authenticating agent shall be a party, or any corporation succeeding to the corporate agency or
corporate trust business of such authenticating agent, shall continue to be an authenticating agent, provided such corporation
shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of
the Trustee or such authenticating agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">An authenticating agent may resign at any
time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate the agency of an
authenticating agent by giving written notice thereof to such authenticating agent and to the Company. Upon receiving such a notice
of resignation or upon such a termination, or in case at any time such authenticating agent shall cease to be eligible in accordance
with the provisions of this Section, the Trustee may appoint a successor authenticating agent which shall be acceptable to the
Company and shall promptly give notice of such appointment to all holders of Securities in the manner and to the extent provided
in Section&nbsp;15.04. Any successor authenticating agent upon acceptance of its appointment hereunder shall become vested with
all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an authenticating agent.
No successor authenticating agent shall be appointed unless eligible under the provisions of this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company agrees to pay to each authenticating
agent from time to time reasonable compensation for its services under this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If an appointment with respect to one or
more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee&rsquo;s
certificate of authentication, an alternative certificate of authentication in the following form:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[ ],</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as Trustee</P></TD></TR>
<TR>
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">By:</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">[ ], as Authenticating Agent</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt">&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Authorized Signatory</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date:</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If all of the Securities of a series may
not be originally issued at one time, and the Trustee does not have an office capable of authenticating Securities upon original
issuance located in a Place of Payment where the Company wishes to have Securities of such series authenticated upon original issuance,
the Trustee, if so requested by the Company in writing, shall appoint in accordance with this Section&nbsp;an authenticating agent
(which, if so requested by the Company, shall be such affiliate of the Company) having an office in a Place of Payment designated
by the Company with respect to such series of Securities, provided that the terms and conditions of such appointment are acceptable
to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONCERNING THE SECURITYHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.01. Action by Securityholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Whenever in this Indenture it is provided
that the holders of a specified percentage in aggregate principal amount of the Securities of any or all series may take any action
(including the making of any demand or request, the giving of any authorization, notice, consent or waiver or the taking of any
other action), the fact that at the time of taking any such action the holders of such specified percentage have joined therein
may be evidenced (a)&nbsp;by any instrument or any number of instruments of similar tenor executed by securityholders in person
or by agent or proxy appointed in writing, or (b)&nbsp;by a combination of such instrument or instruments and any such record of
such a meeting of securityholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In determining whether the holders of a
specified percentage in aggregate principal amount of the Securities of any or all series have taken any action (including the
making of any demand or request, the giving of any authorization, direction, notice, consent or waiver or the taking of any other
action), (i)&nbsp;the principal amount of any Original Issue Discount Security that may be counted in making such determination
and that shall be deemed to be outstanding for such purposes shall be equal to the amount of the principal thereof that could be
declared to be due and payable upon an Event of Default pursuant to the terms of such Original Issue Discount Security at the time
the taking of such of such action is evidenced to the Trustee, and (ii)&nbsp;the principal amount of a Security denominated in
a foreign currency or currency unit shall be the Dollar equivalent, determined as of the date of original issuance of such Security
in accordance with Section&nbsp;2.03(b)&nbsp;hereof, of the principal amount of such Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.02. Proof of Execution by Securityholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Section&nbsp;7.01,
Section&nbsp;7.02 and Section&nbsp;9.05, proof of the execution of any instrument by a securityholder or its agent or proxy, or
of the holding by any person of a Security, shall be sufficient and conclusive in favor of the Trustee and the Company if made
in accordance with such reasonable rules&nbsp;and regulations as may be prescribed by the Trustee or in such manner as shall be
satisfactory to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The principal amount and serial numbers
of Registered Securities held by any person, and the date of holding the same, shall be proved by the Security Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The record of any securityholders&rsquo;
meeting shall be proved in the manner provided in Section&nbsp;9.06.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.03. Who Are Deemed Absolute Owners.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Prior to due presentment of a Registered
Security for registration of transfer, the Company, the Trustee and any agent of the Company or of the Trustee may deem the person
in whose name such Registered Security shall be registered upon the Security Register to be, and may treat him as, the absolute
owner of such Registered Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership
or other writing thereon), for the purpose of receiving payment of or on account of the principal of (and premium, if any) and,
subject to the provisions of Section&nbsp;2.05 and Section&nbsp;2.07, any interest on such Security and for all other purposes;
and neither the Company nor the Trustee nor any agent of the Company or of the Trustee shall be affected by any notice to the contrary.
All such payments so made to any holder for the time being, or upon his order, shall be valid and, to the extent of the sum or
sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the foregoing, with respect
to any temporary or permanent global Security, nothing herein shall prevent the Company, the Trustee, or any agent of the Company
or of the Trustee, from giving effect to any written certification, proxy or other authorization furnished by a Depositary, or
impair, as between a Depositary and holders of beneficial interests in any temporary or permanent global Security, as the case
may be, the operation of customary practices governing the exercise of the rights of the Depositary as holder of such temporary
or permanent global Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.04. Company-Owned Securities Disregarded.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In determining whether the holders of the
required aggregate principal amount of Securities have provided any request, demand, authorization, notice, direction, consent
or waiver under this Indenture, Securities which are owned by the Company or any other obligor on the Securities, or by any person
directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor
on the Securities, shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that
for the purpose of determining whether the Trustee shall be protected in relying on any such request, demand, authorization, direction,
notice, consent or waiver, only Securities which the Trustee actually knows are so owned shall be so disregarded. Securities so
owned which have been pledged in good faith may be regarded as Outstanding for the purposes of this Section&nbsp;if the pledgee
shall establish to the satisfaction of the Trustee the pledgee&rsquo;s right to vote such Securities and that the pledgee is not
a person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any
such other obligor. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall
be full protection to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.05. Revocation of Consents; Future Securityholders
Bound.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">At any time prior to the taking of any
action by the holders of the percentage in aggregate principal amount of the Securities specified in this Indenture in connection
with such action, any holder of a Security, the identifying number of which is shown by the evidence to be included in the Securities
the holders of which have consented to such action, may, by filing written notice with the Trustee at its office and upon proof
of holding as provided in Section&nbsp;8.02, revoke such action so far as concerns such Security. Except as aforesaid any such
action taken by the holder of any Security shall be conclusive and binding upon such holder and upon all future holders and owners
of such Security and of any Security issued upon registration of transfer of or in exchange or substitution therefor in respect
of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, irrespective of whether or
not any notation in regard thereto is made upon such Security. Any action taken by the holders of the percentage in aggregate principal
amount of the Securities specified in this Indenture in connection with such action shall be conclusively binding upon the Company,
the Trustee and the holders of all the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.06. Record Date.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company may, but shall not be obligated
to, set a record date for purposes of determining the identity of holders of Securities of any series entitled to vote or consent
to any action by vote or consent or to otherwise take any action under this Indenture authorized or permitted by Section&nbsp;6.12
and Section&nbsp;6.13 or otherwise under this Indenture. Such record date shall be the later of (i)&nbsp;the date 20 days prior
to the first solicitation of such consent or vote or other action and (ii)&nbsp;the date of the most recent list of holders of
such Securities delivered to the principal corporate trust office of the Trustee pursuant to Section&nbsp;5.01 prior to such solicitation.
If such a record date is fixed, those persons who were holders of such Securities at the close of business on such record date
shall be entitled to vote or consent or take such other action, or to revoke any such action, whether or not such persons continue
to be holders after such record date, and for that purpose the Outstanding Securities shall be computed as of such record date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;9</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITYHOLDERS&rsquo; MEETINGS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.01. Purposes of Meeting.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A meeting of holders of any or all series
of Securities may be called at any time and from time to time pursuant to the provisions of this Article&nbsp;for any of the following
purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
give any notice to the Company or to the Trustee, or to give any directions to the Trustee, or to waive any default hereunder and
its consequences, or to take any other action authorized to be taken by securityholders pursuant to any of the provisions of Article&nbsp;6;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
remove the Trustee and appoint a successor trustee pursuant to the provisions of Article&nbsp;7;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of Section&nbsp;10.02; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
take any other action authorized to be taken by or on behalf of the holders of any specified aggregate principal amount of the
Securities of any or all series, as the case may be, under any other provision of this Indenture or under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.02. Call of Meetings by Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee may at any time call a meeting
of securityholders of any or all series to take any action specified in Section&nbsp;9.01, to be held at such time and at such
place in New York, New York or as the Trustee shall determine. Notice of every meeting of the securityholders of any or all series,
setting forth the time and place of such meeting and in general terms the action proposed to be taken at such meeting, shall be
given in the manner provided in Section&nbsp;15.04 not less than 20 nor more than 180 days prior to the date fixed for the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.03. Call of Meetings by Company or Securityholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case at any time the Company, pursuant
to a Board Resolution, or the holders of at least 10% in aggregate principal amount of the Securities of any or all series, as
the case may be, then Outstanding, shall have requested the Trustee to call a meeting of securityholders of any or all series to
take any action authorized in Section&nbsp;9.01, by written request setting forth in reasonable detail the action proposed to be
taken at the meeting, and the Trustee shall not have provided notice of such meeting in the manner provided in Section&nbsp;15.04
within 30 days after receipt of such request, then the Company or the holders of such Securities in the amount above specified
may determine the time and the place in New York, New York for such meeting and may call such meeting
by giving notice thereof as provided in Section&nbsp;9.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.04. Qualifications for Voting.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To be entitled to vote at any meeting of
securityholders a person shall be a holder of one or more Securities of such series Outstanding with respect to which a meeting
is being held or a person appointed by an instrument in writing as proxy by such a holder or holders. The only persons who shall
be entitled to be present or to speak at any meeting of the securityholders of any series shall be the persons entitled to vote
at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company
and its counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.05. Regulations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding any other provisions of
this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of securityholders of
a series, in regard to proof of the holding of Securities and of the appointment of proxies, and in regard to the appointment and
duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote,
and such other matters concerning the conduct of the meeting as it deems fit. Except as otherwise permitted or required by any
such regulations, the holding of Securities shall be proved in the manner specified in Article&nbsp;8 and the appointment of any
proxy shall be proved in the manner specified in Article&nbsp;8. Such regulations may provide that written instruments appointing
proxies, regular on their face, may be presumed valid and genuine without the proof specified in Article&nbsp;8 or other proof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee shall, by an instrument in writing,
appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by securityholders as
provided in Section&nbsp;9.03, in which case the Company or the securityholders calling the meeting, as the case may be, shall
in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by
vote of the holders of a majority in principal amount of the Securities represented at the meeting and entitled to vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Section&nbsp;8.01
and Section&nbsp;8.04, at any meeting each securityholder or proxy shall be entitled to one vote for each $1,000 (or the Dollar
equivalent thereof in connection with Securities issued in a foreign currency or currency unit) Outstanding principal amount of
Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in
respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman
of the meeting shall have no right to vote except as a securityholder or proxy. Any meeting of securityholders duly called pursuant
to the provisions of Section&nbsp;9.02 or Section&nbsp;9.03 may be adjourned from time to time, and the meeting may be reconvened
without further notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.06. Voting.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The vote upon any resolution submitted to
any meeting of securityholders shall be by written ballot on which shall be subscribed the signatures of the securityholders or
proxies and on which shall be inscribed the identifying number or numbers or to which shall be attached a list of identifying numbers
of the Securities held or represented by them. The chairman of the meeting shall appoint two inspectors of votes who shall count
all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their
verified written reports in duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting
of securityholders shall be prepared by the secretary of the meeting and there shall be attached to the record the original reports
of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts
setting forth a copy of the notice of the meeting and showing that the notice was mailed as provided in Section&nbsp;9.02. The
record shall be signed and verified by the chairman and secretary of the meeting and one of the duplicates shall be delivered to
the Company and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted
at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any record so signed and verified shall
be conclusive evidence of the matters therein stated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;10</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUPPLEMENTAL INDENTURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;10.01. Supplemental Indentures without Consent
of Securityholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Without the consent of any holders of Securities,
the Company, when authorized by or pursuant to Board Resolution, and the Trustee may from time to time and at any time enter into
an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as in force at
the date of the execution thereof) for one or more of the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
evidence the succession of another corporation to the Company, or successive successions, pursuant to Article&nbsp;11 hereof, and
the assumption by the successor corporation of the covenants, agreements and obligations of the Company herein and in the Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
add to the covenants of the Company such further covenants, restrictions, conditions or provisions as its Board of Directors shall
consider to be for the protection of the holders of Securities, and to make the occurrence, or the occurrence and continuance,
of a default in any of such additional covenants, restrictions, conditions or provisions an Event of Default permitting the enforcement
of all or any of the several remedies provided in this Indenture as herein set forth, with such period of grace, if any, and subject
to such conditions as such supplemental indenture may provide;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
establish any series of Securities and the form or terms of securities of any series as permitted by Section&nbsp;2.01 and Section&nbsp;2.03,
including, without limitation, any subordination provisions and any conversion or exchange provisions applicable to Securities
that are convertible into or exchangeable for other securities or property, and any deletions from or additions or changes to this
Indenture in connection therewith (provided that any such deletions, additions and changes shall not be applicable to any other
series of Securities then Outstanding);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
add any additional Events of Default with respect to all or any series of Securities (as shall be specified in such supplemental
indenture);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance,
covenant defeasance and/or satisfaction and discharge of any series of Securities pursuant to Article&nbsp;14, provided that any
such action shall not adversely affect the interests of any holder of a Security of such series or any other Security in any material
respect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance
of Securities, registrable or not registrable as to principal;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
make provisions with respect to conversion or exchange rights of holders of Securities of any series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>in
the case of any series of Securities which are convertible into or exchangeable for commodities or for the securities of the Company
to safeguard or provide for the conversion or exchange rights, as the case may be, of such Securities in the event of any reclassification
or change of outstanding securities or any merger, consolidation, statutory share exchange or combination of the Company with or
into another Person or any sale, lease, assignment, transfer, disposition or other conveyance of all or substantially all of the
properties and assets of the Company to any other Person or other similar transactions, if expressly required by the terms of such
series of Securities established pursuant to Section&nbsp;2.03;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
add to, delete from or revise the conditions, limitations or restrictions on issue, authentication and delivery of Securities of
any series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(j)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
modify, eliminate or add to the provisions of this Indenture to such extent as shall be necessary to effect the qualification of
this Indenture under the Trust Indenture Act, or under any similar federal statute hereafter enacted, and to add to this Indenture
such other provisions as may be expressly permitted by the Trust Indenture Act, excluding however, the provisions referred to in
Section&nbsp;316(a)(2)&nbsp;of the Trust Indenture Act or any corresponding provision in any similar federal statute hereafter
enacted;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(k)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
modify, eliminate or add to any of the provisions of this Indenture, provided that any such change or elimination (i)&nbsp;shall
become effective only when there is no Security of any series Outstanding and created prior to the execution of such supplemental
indenture that is entitled to the benefit of such provision or (ii)&nbsp;shall not apply to any Security Outstanding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(l)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
conform the Indenture or the Securities to the description thereof in the related prospectus, offering memorandum or disclosure
document (as provided in an Officers&rsquo; Certificate delivered to the Trustee);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(m)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
cure any ambiguity or to correct or supplement any provision contained herein or in any supplemental indenture which may be defective
or inconsistent with any other provisions contained herein or in any supplemental indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(n)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
add guarantees with respect to, or to secure, any series of Security;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(o)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
evidence and provide for the acceptance and appointment hereunder by a successor trustee with respect to the Securities of one
or more series and to add or change any provisions of this Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one trustee, pursuant to Section&nbsp;7.11; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(p)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
make any change to the Securities of any series or to make any other provisions in regard to matters or questions arising under
this Indenture that do not adversely affect the legal rights under this Indenture of any holder of Securities of any series issued
under this Indenture, including provisions necessary or desirable to provide for or facilitate the administration of the trusts
hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee is hereby authorized to join
with the Company in the execution of any such supplemental indenture, to make any further appropriate agreements and stipulations
which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder,
but the Trustee shall not be obligated to enter into any such supplemental indenture which adversely affects the Trustee&rsquo;s
own rights, duties or immunities under this Indenture or otherwise. No supplemental indenture shall be effective as against the
Trustee unless and until the Trustee has duly executed and delivered the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;10.02. Supplemental Indentures with Consent
of Holders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">With the consent (evidenced as provided
in Section&nbsp;8.01) of the holders of not less than a majority in aggregate principal amount of the Securities of all series
at the time Outstanding affected by such supplemental indenture (voting as one class), the Company, when authorized by a Board
Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which
shall conform to the provisions of the Trust Indenture Act as in force at the date of the execution thereof) for the purpose of
adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental
indenture or of modifying in any manner the rights of the holders of the Securities of such series under this Indenture; provided,
that no such supplemental indenture shall (a)&nbsp;extend the fixed maturity of any Securities, or reduce the principal amount
thereof or premium, if any, or reduce the rate or extend the time of payment of interest thereon, without the consent of the holder
of each Security so affected, (b)&nbsp;reduce the aforesaid percentage of Securities, the consent of the holders of which is required
for any such supplemental indenture, without the consent of the holders of all Securities then Outstanding, (c)&nbsp;modify the
subordination provisions in a manner adverse to the holders of such Securities, or (d)&nbsp;modify any of the above provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the request of the Company, accompanied
by a copy of a Board Resolution certified by the Secretary or an Assistant Secretary of the Company authorizing the execution of
any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of securityholders as aforesaid,
the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture 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 supplemental indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">It shall not be necessary for the consent
of the securityholders under this Section&nbsp;to approve the particular form of any proposed supplemental indenture, but it shall
be sufficient if such consent shall approve the substance thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Promptly after the execution by the Company
and the Trustee of any supplemental indenture pursuant to the provisions of this Article&nbsp;10, the Company shall provide notice,
in the manner and to the extent provided in Section&nbsp;15.04, setting forth in general terms the substance of such supplemental
indenture, to all holders of Securities of each series so affected. Any failure of the Company so to provide such notice, or any
defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;10.03. Compliance with Trust Indenture Act;
Effect of Supplemental Indentures.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any supplemental indenture executed pursuant
to the provisions of this Article&nbsp;10 shall comply with the Trust Indenture Act, as then in effect. Upon the execution of any
supplemental indenture pursuant to the provisions of this Article&nbsp;10 and subject to the provisions in any supplemental indenture
relating to the prospective application of such instrument, this Indenture shall be and be deemed to be modified and amended in
accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture
of the Trustee, the Company and the holders of Securities theretofore or thereafter authenticated and delivered hereunder shall
thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all
the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this
Indenture for any and all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee, subject to the provisions of
Section&nbsp;7.01 and Section&nbsp;7.02, shall be entitled to receive and shall be fully protected in relying upon an Officers&rsquo;
Certificate and Opinion of Counsel as conclusive evidence that any such supplemental indenture complies with the provisions of
this Article&nbsp;10 and that all conditions precedent thereto have been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;10.04. Notation on Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Securities of any series authenticated and
delivered after the execution of any supplemental indenture pursuant to the provisions of this Article&nbsp;10 may bear a notation
in form approved by the Company as to any matter provided for in such supplemental indenture. New Securities of any series so modified
as to conform, in the opinion of the Company and the Board of Directors, to any modification of this Indenture contained in any
such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered, without charge to the securityholders,
in exchange for the Securities of such series then Outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;11</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATION, MERGER, SALE OR CONVEYANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;11.01. Company May&nbsp;Consolidate,&nbsp;etc.,
on Certain Terms.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants that it will not merge
into or consolidate with any other corporation or sell or convey all or substantially all of its assets to any person, firm or
corporation, unless (a)&nbsp;either the Company shall be the continuing corporation, or the successor corporation (if other than
the Company) shall be a corporation organized and existing under the laws of the United States of America or a state thereof or
the District of Columbia and such corporation shall expressly assume the due and punctual payment of the principal of (and premium,
if any, on) and any interest on all the Securities, according to their tenor, and the due and punctual performance and observance
of all of the covenants and conditions of this Indenture to be performed by the Company by supplemental indenture in form satisfactory
to the Trustee, executed and delivered to the Trustee by such corporation, and (b)&nbsp;the Company or such successor corporation,
as the case may be, shall not, immediately after such merger or consolidation, or such sale or conveyance, be in default in the
performance of any such covenant or condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;11.02. Successor Corporation Substituted.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case of any such consolidation, merger,
sale or conveyance and upon any such assumption by the successor corporation, such successor corporation shall succeed to and be
substituted for, and may exercise every right and power of, the Company, with the same effect as if it had been named herein as
the party of the first part. Such successor corporation thereupon may cause to be signed, and may issue either in its own name
or in the name of the Company, any or all of the Securities issuable hereunder which theretofore shall not have been signed by
the Company and delivered to the Trustee; and, upon the order of such successor corporation, instead of the Company, and subject
to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall make available
for delivery any Securities which previously shall have been signed and delivered by the officers of the Company to the Trustee
for authentication, and any Securities which such successor corporation thereafter shall cause to be signed and delivered to the
Trustee for that purpose. All of the Securities so issued shall in all respects have the same legal rank and benefit under this
Indenture as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such
Securities had been issued at the date of the execution thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case of any such consolidation, merger,
sale or conveyance such changes in phraseology and form (but not in substance) may be made in the Securities thereafter to be issued
as may be appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;11.03. Opinion of Counsel and Officers&rsquo;
Certificate to be Given Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee shall receive an Opinion of
Counsel and Officers&rsquo; Certificate as conclusive evidence that any such consolidation, merger, sale or conveyance, and any
such assumption, complies with the provisions of this Article&nbsp;11 and that all conditions precedent herein provided for relating
to such transaction have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;12</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SATISFACTION AND DISCHARGE OF INDENTURE;
UNCLAIMED MONEYS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;12.01. Discharge of Indenture.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If at any time:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Company shall have delivered to the Trustee for cancellation all Securities of any series theretofore authenticated (other than
(i)&nbsp;Securities that have been destroyed, lost or stolen and that have been replaced or paid as provided in Section&nbsp;2.09,
and (ii)&nbsp;Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the
Company and thereafter repaid to the Company or discharged from such trust, as provided in Section&nbsp;4.03), or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>all
such Securities of such series not theretofore delivered to the Trustee for cancellation (i)&nbsp;shall have become due and payable,
or (ii)&nbsp;are by their terms to become due and payable within one year, or (iii)&nbsp;are to be called for redemption within
one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company in the case of
(b)(i), (b)(ii)&nbsp;or (b)(iii)&nbsp;above shall deposit or cause to be deposited with the Trustee as trust funds the entire amount
(other than moneys repaid by the Trustee or any paying agent to the Company in accordance with Section&nbsp;12.04) sufficient to
pay at maturity or upon redemption all Securities of such series not therefore delivered to the Trustee for cancellation, including
principal (and premium, if any) and any interest due or to become due to such date of maturity or date fixed for redemption, as
the case may be, and if in either case the Company shall also pay or cause to be paid all other sums payable hereunder by the Company
with respect to such series, then this Indenture shall cease to be of further effect with respect to the Securities of such series,
and the Trustee, on demand of and at the cost and expense of the Company and subject to Section&nbsp;15.05, shall execute proper
instruments acknowledging satisfaction of and discharging this Indenture with respect to the Securities of such series. The Company
agrees to reimburse the Trustee for any costs or expenses thereafter reasonably and properly incurred by the Trustee in connection
with this Indenture or the Securities of such series. Notwithstanding the satisfaction and discharge of this Indenture with respect
to the Securities of any series or of all series, the obligations of the Company to the Trustee under Section&nbsp;7.06 shall survive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will deliver to the Trustee
an Officers&rsquo; Certificate and an Opinion of Counsel which together shall state that all conditions precedent herein provided
for relating to the satisfaction and discharge of this Indenture have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;12.02. Deposited Moneys to be Held in Trust
by Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of clause (e)&nbsp;of
Section&nbsp;4.03, all moneys deposited with the Trustee pursuant to Section&nbsp;12.01 shall be held in trust and applied by it
to the payment, either directly or through any paying agent (including the Company acting as its own paying agent), to the persons
entitled thereto, of all sums due and to become due thereon for principal and interest (and premium, if any) for which payment
of such money has been deposited with the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;12.03. Paying Agent to Repay Moneys Held.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with the satisfaction and
discharge of this Indenture with respect to Securities of any series and the payment of all amounts due to the Trustee under Section&nbsp;7.06,
all moneys with respect to such Securities then held by any paying agent under the provisions of this Indenture shall, upon demand
of the Company, be repaid to it or paid to the Trustee and thereupon such paying agent shall be released from all further liability
with respect to such moneys.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;12.04. Return of Unclaimed Moneys.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to applicable law, any moneys deposited
with or paid to the Trustee or any paying agent for the payment of the principal of (and premium, if any) or interest on any Security
and not applied but remaining unclaimed for two years after the date upon which such principal (and premium, if any, on) or interest
shall have become due and payable, shall be repaid to the Company by the Trustee or such paying agent upon written request from
the Company, and the holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for any
payment which such holder may be entitled to collect and all liability of the Trustee or any paying agent with respect to such
moneys shall thereupon cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;13</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMMUNITY OF INCORPORATORS, STOCKHOLDERS,
OFFICERS AND DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;13.01. Indenture and Securities Solely Corporate
Obligations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No recourse under or upon any obligation,
covenant or agreement contained in this Indenture, or in any Security, or because of any indebtedness evidenced thereby, shall
be had against any incorporator, or against any past, present or future stockholder, officer or director, as such, of the Company
or of any successor corporation, either directly or through the Company or any successor corporation, under any rule&nbsp;of law,
statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise,
all such liability being expressly waived and released by the acceptance of the Securities by the holders thereof and as part of
the consideration for the issue of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;14</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEFEASANCE AND COVENANT DEFEASANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;14.01. Applicability of Article.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless, as specified pursuant to Section&nbsp;2.03(b),
provision is made that either or both of (a)&nbsp;defeasance of the Securities of a series under Section&nbsp;14.02 and (b)&nbsp;covenant
defeasance of the Securities of a series under Section&nbsp;14.03 shall not apply to the Securities of a series, then the provisions
of such Section&nbsp;14.02 and Section&nbsp;14.03, together with Section&nbsp;14.04 and Section&nbsp;14.05, shall be applicable
to the Outstanding Securities of all series upon compliance with the conditions set forth below in this Article&nbsp;14.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;14.02. Defeasance and Discharge.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to Section&nbsp;14.05, the Company
may cause itself to be discharged from its obligations with respect to the Outstanding Securities of any series on and after the
date the conditions precedent set forth below are satisfied but subject to satisfaction of the conditions subsequent set forth
below (hereinafter, &ldquo;defeasance&rdquo;). For this purpose, such defeasance means that the Company shall be deemed to have
paid and discharged the entire indebtedness represented by the Outstanding Securities of such series and to have satisfied all
its other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive
until otherwise terminated or discharged hereunder: (a)&nbsp;the rights of holders of Outstanding Securities of such series to
receive, solely from the trust fund described in Section&nbsp;14.04 and as more fully set forth in such Section, payments of the
principal of and any premium and interest on such Securities when such payments are due, (b)&nbsp;the Company&rsquo;s obligations
with respect to such Securities under Section&nbsp;2.07, Section&nbsp;2.08, Section&nbsp;2.09, Section&nbsp;4.02 and Section&nbsp;4.03
and such obligations as shall be ancillary thereto, (c)&nbsp;the rights, powers, trusts, duties, immunities and other provisions
in respect of the Trustee hereunder, and (D)&nbsp;this Article&nbsp;14. Subject to compliance with this Article&nbsp;14, defeasance
with respect to Securities of a series by the Company is permitted under this Section&nbsp;14.02 notwithstanding the prior exercise
of its rights under Section&nbsp;14.03 with respect to the Securities of such series. Following a defeasance, payment of the Securities
of such series may not be accelerated because of an Event of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;14.03. Covenant Defeasance.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company may cause itself to be released
from its obligations under any Sections applicable to Securities of a series that are determined pursuant to Section&nbsp;2.03(b)&nbsp;to
be subject to this provision with respect to the Outstanding Securities of such series on and after the date the conditions precedent
set forth below are satisfied but subject to satisfaction of the conditions subsequent set forth below (hereinafter, &ldquo;covenant
defeasance&rdquo;). For this purpose, such covenant defeasance means that, with respect to the Outstanding Securities of such series,
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 Section, whether directly or indirectly by reason of any reference elsewhere herein to any such Section&nbsp;or by reason
of any reference in any such Section&nbsp;to any other provision herein or in any other document, but the remainder of this Indenture
and such Securities shall be unaffected thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;14.04. Conditions to Defeasance or Covenant
Defeasance.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following shall be the conditions precedent
or, as specifically noted below, subsequent to application of either Section&nbsp;14.02 or Section&nbsp;14.03 to the Outstanding
Securities of such series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Company shall irrevocably have deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose of
making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the holders of such
Securities, (i)&nbsp;money in an amount, or (ii)&nbsp;U.S. Government Obligations which through the scheduled payment of principal
and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any
payment, money in an amount, or (iii)&nbsp;a combination thereof, sufficient, without reinvestment, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay
and discharge, and which shall be applied by the Trustee to pay and discharge, (1)&nbsp;the principal of and any premium and interest
on the Outstanding Securities of such series to maturity or redemption, as the case may be, and (2)&nbsp;any mandatory sinking
fund payments or analogous payments applicable to the Outstanding Securities of such series on the due dates thereof. Before such
a deposit the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date or dates
in accordance with Article&nbsp;3 which shall be given effect in applying the foregoing. For this purpose, &ldquo;U.S. Government
Obligations&rdquo; means securities that are (x)&nbsp;direct obligations of the United States of America for the payment of which
its full faith and credit is pledged or (y)&nbsp;obligations of a person controlled or supervised by and acting as an agency or
instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation
by the United States of America, which, in either case, are not callable or redeemable at the option of the issuer thereof, and
shall also include a depository receipt issued by a bank (as defined in Section&nbsp;3(a)(2)&nbsp;of the Securities Act) as custodian
with respect to any such U.S. Government Obligation or a specific payment of principal of or interest on any such U.S. Government
Obligation held by such custodian for the account of the holder of such depository receipt, provided that (except as required by
law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from
any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal of or interest
on the U.S. Government Obligation evidenced by such depository receipt;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
default, or event that after notice or lapse of time, or both, would become a default with respect to the Securities of such series,
shall have happened and be continuing (i)&nbsp;on the date of such deposit or (ii)&nbsp;insofar as Section&nbsp;6.01(a)&nbsp;and
Section&nbsp;6.01(b)&nbsp;are concerned, at any time during the period ending on the 123rd day after the date of such deposit or,
if longer, ending on the day following the expiration of the longest preference period applicable to the Company in respect of
such deposit (it being understood that the condition in this clause (b)&nbsp;is a condition subsequent and shall not be deemed
satisfied until the expiration of such period);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Such
defeasance or covenant defeasance shall not (i)&nbsp;cause the Trustee for the Securities of such series to have a conflicting
interest as defined in Section&nbsp;7.08 or for purposes of the Trust Indenture Act with respect to any securities of the Company
or (ii)&nbsp;result in the trust arising from such deposit to constitute, unless it is qualified as, a regulated investment company
under the Investment Company Act of 1940, as amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Such
defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default under, this Indenture or
any other agreement or instrument to which the Company is a party or by which it is bound;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Such
defeasance or covenant defeasance shall not cause any Securities of such series then listed on any registered national securities
exchange under the Exchange Act to be delisted;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In
the case of a defeasance under Section&nbsp;14.02, the Company shall have delivered to the Trustee an Opinion of Counsel stating
that (x)&nbsp;the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (y)&nbsp;since
the date of this Indenture there has been a change in the applicable federal income tax law, in either case to the effect that,
and based thereon such opinion shall confirm that, the holders of the Outstanding Securities of such series will not recognize
income, gain or loss for federal income tax purposes as a result of such defeasance and will be subject to federal income tax on
the same amounts, in the same manner and at the same times as would have been the case if such defeasance had not occurred;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In
the case of covenant defeasance under Section&nbsp;14.03, the Company shall have delivered to the Trustee an Opinion of Counsel
to the effect that the holders of the Outstanding Securities of such series will not recognize income, gain or loss for federal
income tax purposes as a result of such covenant defeasance and will be subject to 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Such
defeasance or covenant defeasance shall be effected in compliance with any additional terms, conditions or limitations which may
be imposed on the Company in connection therewith pursuant to Section&nbsp;2.03(b); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(i)&nbsp;The Company shall have delivered
to the Trustee an Officers&rsquo; Certificate and an Opinion of Counsel, each stating that all conditions precedent and subsequent
provided for in this Indenture relating to either the defeasance under Section&nbsp;14.02 or the covenant defeasance under Section&nbsp;14.03,
as the case may be, have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;14.05. Deposited Money and U.S. Government Obligations
to be Held in Trust; Other Miscellaneous Provisions.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All money and U.S. Government Obligations
(including the proceeds thereof) deposited with the Trustee pursuant to Section&nbsp;14.04 in respect of the Outstanding Securities
of such series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this
Indenture, to the payment, either directly or through any paying agent (but not including the Company acting as its own paying
agent) as the Trustee may determine, to the holders of such Securities of all sums due and to become due thereon in respect of
principal and any premium and interest, 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall pay and indemnify the
Trustee against any tax, fee or other charge imposed on or assessed against the money or U.S. Government Obligations deposited
pursuant to Section&nbsp;14.04 or the principal and interest received in respect thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Anything herein to the contrary notwithstanding,
the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or U.S. Government Obligations
held by it as provided in Section&nbsp;14.04 which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be
required to be deposited to effect an equivalent defeasance or covenant defeasance, provided that the Trustee shall not be required
to liquidate any U.S. Government Obligations in order to comply with the provisions of this paragraph.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Anything herein to the contrary notwithstanding,
if and to the extent the deposited money or U.S. Government Obligations (or the proceeds thereof) either (i)&nbsp;cannot be applied
by the Trustee in accordance with this Section&nbsp;because of a court order or by operation of Article&nbsp;16 or (ii)&nbsp;are
for any reason insufficient in amount, then the Company&rsquo;s obligations to pay principal of and any premium and interest on
the Securities of such series shall be reinstated to the extent necessary to cover the deficiency on any due date for payment.
In any such case, the Company&rsquo;s interest in the deposited money and U.S. Government Obligations (and proceeds thereof) shall
be reinstated to the extent the Company&rsquo;s payment obligations are reinstated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;15</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MISCELLANEOUS PROVISIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.01. Benefits of Indenture Restricted to Parties
and Securityholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Nothing in this Indenture or in the Securities,
expressed or implied, shall give or be construed to give to any person, firm or corporation, other than the parties hereto and
their successors and assigns and the holders of the Securities (and, with respect to the provisions of Article&nbsp;16, the holders
of senior Indebtedness), any legal or equitable right, remedy or claim under this Indenture or under any covenant or provision
herein contained, all such covenants and provisions being for the sole benefit of the parties hereto and their successors and assigns
and the holders of the Securities (and, with respect to the provisions of Article&nbsp;16, the holders of senior Indebtedness).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.02. Provisions Binding on Company&rsquo;s
Successors.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All the covenants, stipulations, promises
and agreements in this Indenture contained by or in behalf of the Company shall bind its successors and assigns, whether so expressed
or not.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.03. Addresses for Notices,&nbsp;etc., to
Company and Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any request, demand, authorization, direction,
notice, consent, waiver or other document provided or permitted by this Indenture is duly given if in writing and delivered in
person or delivered by first-class postage prepaid mail, facsimile, email or overnight air courier guaranteeing next day delivery,
to the other&rsquo;s address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If
to the Trustee, addressed to the Trustee at the principal Corporate Trust Office of the Trustee, [ ], Attention: Metropolitan Bank
Holding Corp. Administrator, Telephone: [ ].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If
to the Company by the Trustee or by the holders of Securities, addressed to it at 99 Park Avenue,&nbsp;New York,&nbsp;New York
10016, Attention: [ ], Email: [ ].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company or the Trustee by written notice
to the other may designate additional or different addresses for subsequent notices or communications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All notices and communications will be deemed
to have been duly given: five Business Days after being deposited in the mail, postage prepaid, if delivered by mail; on the first
Business Day after being sent, if sent by facsimile and the sender receives confirmation of successful transmission; upon confirmation
of transmittal (but excluding any automatic reply to such email), if sent by email; and the next Business Day after timely delivery
to the courier, if sent by overnight air courier guaranteeing next day delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.04. Notice to Holders of Securities; Waiver.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as otherwise expressly provided herein,
where this Indenture provides for notice of holders of Securities of any event, such notice shall be sufficiently given to holders
of Registered Securities if in writing and mailed, first-class postage prepaid, to each holder of a Registered Security affected
by such event, at the address of such holder as it appears in the Security Register, not earlier than the earliest date, and not
later than the latest date, prescribed for the giving of such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case by reason of the suspension of regular
mail service or by reason of any other cause it shall be impracticable to give such notice to holders of Registered Securities
by mail, then such notification as shall be made with the approval of the Trustee shall constitute sufficient notice to such holders
for every purpose hereunder. In any case where notice to holders of Registered Securities is given by mail, neither the failure
to mail such notice, nor any defect in any notice so mailed, to any particular holder of a Registered Security shall affect the
sufficiency of such notice with respect to other holders of Registered Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding any other provision of this
Indenture or any Security, where this Indenture or any Security provides for notice of any event (including any notice of redemption)
to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given when delivered to the
Depositary for such Security (or its designee) pursuant to the customary procedures of such Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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 of Securities 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any request, demand, authorization, direction,
notice, consent or waiver required or permitted under this Indenture shall be in the English language.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.05. Evidence of Compliance with Conditions
Precedent.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon any application or demand by the Company
to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officers&rsquo;
Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have
been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any,
have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents
is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate
or opinion need be furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Officers&rsquo; Certificate and Opinion
of Counsel provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant
provided for in this Indenture shall include (a)&nbsp;a statement that the person making such certificate or opinion has read such
covenant or condition; (b)&nbsp;a brief statement as to the nature and scope of the examination or investigation upon which the
statements or opinions contained in such certificate or opinion are based; (c)&nbsp;a statement that, in the opinion of such person,
he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not
such covenant or condition has been complied with; and (d)&nbsp;a statement as to whether or not, in the opinion of such person,
such condition or covenant has been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.06. Legal Holidays.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In any case where the date of maturity of
interest on or principal of the Securities or the date fixed for redemption of any Securities shall be a Saturday or Sunday or
a legal holiday in City of New York, New York or in such other Place of Payment as the Company may designate pursuant to Section&nbsp;4.02,
or a day on which banking institutions in City of New York, New York or in such other Place of Payment are authorized or obligated
by law, regulation or executive order to remain closed, then payment of interest or principal (and premium, if any) 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 date of
maturity or the date fixed for redemption, and no interest shall accrue for the period after such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.07. Trust Indenture Act to Control.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If and to the extent that any provision
of this Indenture limits, qualifies or conflicts with another provision included in this Indenture which is required to be included
in this Indenture by any of Sections 310 to 317, inclusive, of the Trust Indenture Act, such required provision shall control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.08. Execution in Counterparts.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Indenture may be executed in any number
of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument.
The exchange of copies of this Indenture and of signature pages&nbsp;by facsimile or electronic format (<I>e.g</I>., &ldquo;.pdf&rdquo;
or &ldquo;.tif&rdquo;) transmission will 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
electronic format (<I>e.g.</I>, &ldquo;.pdf&rdquo; or &ldquo;.tif&rdquo;) will be deemed to be their original signatures for all
purposes. Unless otherwise provided herein or in any other Securities, the words &ldquo;execute&rdquo;, &ldquo;execution&rdquo;,
 &ldquo;signed&rdquo;, and &ldquo;signature&rdquo; and words of similar import used in or related to any document to be signed in
connection with this Indenture, any other Securities or any of the transactions contemplated hereby (including amendments, waivers,
consents and other modifications) shall be deemed to include electronic signatures and the keeping of records in electronic form,
each of which shall be of the same legal effect, validity or enforceability as a manually executed signature in ink or the use
of a paper-based recordkeeping system, as applicable, to the fullest extent and as provided for in any Applicable Law, including
the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act,
and any other similar state laws based on the Uniform Electronic Transactions Act, provided that, notwithstanding anything herein
to the contrary, the Trustee is not under any obligation to agree to accept electronic signatures in any form or in any format
unless expressly agreed to by such Trustee pursuant to procedures approved by such Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.09. Governing Law; Waiver of Jury Trial.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIS INDENTURE AND EACH SECURITY SHALL BE
DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE
EXTENT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF
THE NEW YORK GENERAL OBLIGATIONS LAW).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">EACH OF THE COMPANY AND THE TRUSTEE HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The parties hereby (i)&nbsp;irrevocably
submit to the non-exclusive jurisdiction of any federal or state court sitting in the Borough of Manhattan, the city of New York,
(ii)&nbsp;waive any objection to laying of venue in any such action or proceeding in such courts, and (iii)&nbsp;waive any objection
that such courts are an inconvenient forum or do not have jurisdiction over any party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.10. Severability.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case any provision in this Indenture
or in the Securities 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee, by its execution of this Indenture,
hereby accepts the trusts in this Indenture declared and provided, upon the terms and conditions hereinabove set forth. This Indenture,
any supplemental indenture hereto and the exhibits hereto or thereto set forth the entire agreement and understanding of the parties
related to this transaction and supersedes all prior agreements and understandings, oral or written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.11. Interpretations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Indenture may not be used to interpret
any other indenture, loan or debt agreement of the Company or its 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.12. U.S.A. Patriot Act.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The parties hereto acknowledge that in accordance
with Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
Act of 2001 (the &ldquo;USA PATRIOT Act&rdquo;), the Trustee, like all financial institutions and in order to help fight the funding
of terrorism and money laundering, 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 will provide
the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the USA PATRIOT Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RANKING OF SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;16.01. Ranking.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as otherwise provided in a supplemental
indenture or pursuant to Section&nbsp;2.01, the Company agrees, and each holder by accepting a Security agrees, that the indebtedness
evidenced by the Securities constitutes and will constitute a senior unsecured general obligation of the Company, ranking equally
with other existing and future senior unsecured Indebtedness of the Company, ranking equally with other existing and future senior
unsecured Indebtedness of the Company and ranking senior in right of payment to any future Indebtedness of the Company that is
expressly made subordinate to the Securities by the terms of such Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties hereto have
caused this Indenture to be duly executed, all as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt"><B>METROPOLITAN BANK HOLDING CORP.</B></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt; width: 40%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 17%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="background-color: white">Mark R. DeFazio</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-size: 10pt">President and Chief Executive Officer</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt"><B>[ ], as Trustee</B></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt">[ ]</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt">[Vice President]</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.5
<SEQUENCE>3
<FILENAME>tm2131062d1_ex4-5.htm
<DESCRIPTION>EXHIBIT 4.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 4.5</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>METROPOLITAN BANK HOLDING CORP.,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AS ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[ ],</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AS TRUSTEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUBORDINATED INDENTURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DATED AS OF [ ], 20[ ]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUBORDINATED DEBT SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CROSS-REFERENCE TABLE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reconciliation and tie between the Trust Indenture Act of 1939,
as amended (the &ldquo;Trust Indenture Act&rdquo;), and the Indenture dated as of [ ], 20[ ].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 51%; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding: 0.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECTION&nbsp;OF TRUST INDENTURE ACT</B></FONT></TD>
    <TD STYLE="padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECTION&nbsp;OF INDENTURE</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">310(a)(1)&nbsp;and (2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.09</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">310(a)(3)&nbsp;and (4)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">310(a)(5)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.09</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">310(b)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.08 and 7.10</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">311(a)&nbsp;and (b)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.13</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">312(a)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.01 and 5.02(a)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">312(b)&nbsp;and (c)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.02(b)&nbsp;and (c)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">313(a)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.04(a)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">313(b)(1)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">313(b)(2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.04(b)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">313(c)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.04(c)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">313(d)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.04(d)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">314(a)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.03</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">314(b)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">314(c)(1)&nbsp;and (2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.04</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">314(c)(3)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">314(d)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">314(e)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.05</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">314(f)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">315(a), (c)&nbsp;and (d)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.01</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">315(b)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.14</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">315(e)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.14</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">316(a)(1)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.12</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">316(a)(2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Omitted</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">316(a)&nbsp;last sentence</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.04</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">316(b)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.08</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">316(c)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.06</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">317(a)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.03 and 6.04</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">317(b)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.03(a)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">318(a)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.07</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note: This reconciliation and tie shall not, for any purpose,
be deemed to be a part of the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention should also be directed to Section&nbsp;318(c)&nbsp;of
the Trust Indenture Act, which provides that the provisions of Sections 310 to and including Section&nbsp;317 of the Trust Indenture
Act are a part of and govern every qualified indenture, whether or not physically contained therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>TABLE OF CONTENTS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.75pt; width: 15%">&nbsp;</TD>
    <TD STYLE="width: 77%">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt; font-size: 10pt; text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page(s)</B></FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;1 DEFINITIONS</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;1.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitions.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;2 ISSUE, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;2.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount Unlimited; Issuable in Series.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;2.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Trustee&rsquo;s Certificate of Authentication.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;2.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Securities Generally; Establishment of Terms of Series.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">6</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;2.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities in Global Form.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;2.05.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Denominations; Record Date; Payment of Interest.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">9</TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;2.06.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Execution, Authentication, Delivery and Dating of Securities.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;2.07.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exchange and Registration of Transfer of Securities.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;2.08.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Temporary Securities.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;2.09.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mutilated, Destroyed, Lost or Stolen Securities.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;2.10.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cancellation.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;2.11.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Book-Entry Only System.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;3 REDEMPTION OF SECURITIES</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;3.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redemption of Securities, Applicability of Section.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;3.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice of Redemption, Selection of Securities.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;3.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payment of Securities Called for Redemption.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;3.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redemption Suspended During Event of Default.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;4 PARTICULAR COVENANTS OF THE COMPANY</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;4.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payment of Principal, Premium and Interest.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;4.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Offices for Notices and Payments.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;4.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions as to Paying Agent.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;4.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statement as to Compliance.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;4.05.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Corporate Existence.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;4.06.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reserved.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 15%; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;4.07.</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 77%; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Waiver of Covenants.</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;5 SECURITYHOLDER LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;5.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securityholder Lists.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;5.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preservation and Disclosure of Lists.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;5.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reports by the Company.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;5.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reports by the Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;6 REMEDIES</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Events of Default; Acceleration of Maturity.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rescission and Annulment</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Collection of Indebtedness and Suits for Enforcement by Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trustee May&nbsp;File Proofs of Claim.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.05.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trustee May&nbsp;Enforce Claims Without Possession of Securities.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.06.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Application of Money Collected.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.07.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limitation on Suits.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.08.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unconditional Right of Securityholders to Receive Principal and Interest.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.09.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restoration of Rights and Remedies.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.10.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rights and Remedies Cumulative.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.11.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delay or Omission Not Waiver.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.12.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Control by Securityholders.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.13.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Waiver of Past Defaults.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.14.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Undertaking for Costs.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;6.15.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Waiver of Stay or Extension Laws.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;7 CONCERNING THE TRUSTEE</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Duties and Responsibilities of Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reliance on Documents, Opinions,&nbsp;etc.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Responsibility for Recitals,&nbsp;etc.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ownership of Securities.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.05.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; width: 77%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Moneys to be Held in Trust.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</FONT></TD>
    </TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.06.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation and Expenses of Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.07.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Officers&rsquo; Certificate or Opinion of Counsel as Evidence.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.08.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Disqualifications; Conflicting Interest of Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.09.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eligibility of Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.10.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Resignation or Removal of Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.11.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acceptance by Successor Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.12.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Successor by Merger,&nbsp;etc.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.13.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limitations on Rights of Trustee as Creditor.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.14.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice of Default.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;7.15.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Appointment of Authenticating Agent.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;8 CONCERNING THE SECURITYHOLDERS</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;8.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Action by Securityholders.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;8.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proof of Execution by Securityholders.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;8.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Who Are Deemed Absolute Owners.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;8.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Company-Owned Securities Disregarded.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;8.05.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revocation of Consents; Future Securityholders Bound.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;8.06.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Record Date.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;9 SECURITYHOLDERS&rsquo; MEETINGS</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;9.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purposes of Meeting.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;9.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Call of Meetings by Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;9.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Call of Meetings by Company or Securityholders.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;9.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Qualifications for Voting.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;9.05.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regulations.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;9.06.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voting.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;10 SUPPLEMENTAL INDENTURES</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">35</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;10.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental Indentures without Consent of Securityholders.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">35</FONT></TD>
    </TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;10.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; width: 77%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental Indentures with Consent of Holders.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</FONT></TD>
    </TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;10.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compliance with Trust Indenture Act; Effect of Supplemental Indentures.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD>
    </TR>

<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;10.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notation on Securities.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;11 CONSOLIDATION, MERGER, SALE OR CONVEYANCE</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;11.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Company May&nbsp;Consolidate,&nbsp;etc., on Certain Terms.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;11.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Successor Corporation Substituted.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;11.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Counsel and Officers&rsquo; Certificate to be Given Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;12 SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;12.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Discharge of Indenture.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;12.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deposited Moneys to be Held in Trust by Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;12.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paying Agent to Repay Moneys Held.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;12.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return of Unclaimed Moneys.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;13 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;13.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indenture and Securities Solely Corporate Obligations.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;14 DEFEASANCE AND COVENANT DEFEASANCE</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;14.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Applicability of Article.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;14.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Defeasance and Discharge.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;14.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Covenant Defeasance.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;14.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conditions to Defeasance or Covenant Defeasance.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;14.05.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous Provisions.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;15 MISCELLANEOUS PROVISIONS</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Benefits of Indenture Restricted to Parties and Securityholders.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.02.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions Binding on Company&rsquo;s Successors.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.03.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Addresses for Notices,&nbsp;etc., to Company and Trustee.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.04.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice to Holders of Securities; Waiver.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.05.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Evidence of Compliance with Conditions Precedent.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT></TD>
    </TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.06.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; width: 77%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal Holidays.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.07.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trust Indenture Act to Control.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">44</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.08.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Execution in Counterparts.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">44</FONT></TD>
    </TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-size: 10pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.09.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Governing Law; Waiver of Jury Trial.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">44</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.10.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Severability.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">44</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.11.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interpretations.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;15.12.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S.A. Patriot Act.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</FONT></TD>
    </TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;16 SUBORDINATION OF SECURITIES</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</FONT></TD>
    </TR>
<TR>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 0.38in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION&nbsp;16.01.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities Subordinate to Senior Indebtedness.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.75pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</FONT></TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIS INDENTURE, dated as of [ ], 20[ ] between
Metropolitan Bank Holding Corp., a corporation duly organized and existing under the laws of the State of New York (the &ldquo;Company&rdquo;),
and [ ], as trustee (the &ldquo;Trustee,&rdquo; which term shall include any successor trustee appointed pursuant to Article&nbsp;7
of this Indenture).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company deems it necessary
to issue from time to time for its lawful purposes securities (the &ldquo;Securities&rdquo;) evidencing its indebtedness and has
duly authorized the execution and delivery of this Indenture to provide for the issuance of the Securities in one or more series,
unlimited as to principal amount, to bear such rates of interest, to mature at such time or times, and to have such other provisions
as shall be fixed as hereinafter provided; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company represents that all
acts and things necessary to constitute these presents a valid indenture and agreement according to its terms have been done and
performed, and the execution of this Indenture has in all respects been duly authorized, and the Company, in the exercise of legal
right and power in it vested, is executing this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In order to declare the terms and conditions
upon which the Securities are authenticated, issued and received, and in consideration of the premises and the purchase and acceptance
of the Securities by the holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of the
respective holders from time to time of the Securities, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEFINITIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;1.01. Definitions.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The terms defined in this Section&nbsp;(except
as herein otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any
indenture supplemental hereto shall have the respective meanings specified in this Section. All other terms used in this Indenture
that are defined in the Trust Indenture Act or that are by reference therein defined in the Securities Act shall have the meanings
(except as herein otherwise expressly provided or unless the context otherwise requires) assigned to such terms in the Trust Indenture
Act and in the Securities Act as in force at the date of this Indenture as originally executed. All accounting terms used herein
and not expressly defined shall have the meanings assigned to such terms in accordance with United States generally accepted accounting
principles as are generally accepted at the time of any computation. The words &ldquo;herein,&rdquo; &ldquo;hereof&rdquo; and &ldquo;hereunder&rdquo;
and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section&nbsp;or other subdivision.
The terms defined in this Article&nbsp;have the meanings assigned to them in this Article&nbsp;and include the plural as well as
the singular.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Additional Amounts&rdquo; shall mean
any additional amounts to be paid by the Company in respect of Securities of a series, as may be specified pursuant to Section&nbsp;2.03(b)&nbsp;hereof
and in such Security and under the circumstances specified therein, in respect of specified taxes, assessments or other governmental
charges imposed on certain holders who are United States Aliens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Authorized Officer&rdquo; shall have
the meaning set forth in Section&nbsp;3.02 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Board of Directors&rdquo; or &ldquo;Board&rdquo;
shall mean the Board of Directors of the Company or any duly authorized committee of such Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Board Resolution&rdquo; shall mean
a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors
or by a committee acting under authority of or appointment by the Board of Directors and to be in full force and effect on the
date of such certification, and delivered to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Business Day&rdquo; shall mean, unless
otherwise specified pursuant to Section&nbsp;2.03(b), any day other than a Saturday or Sunday that is neither a legal holiday nor
a day on which banking institutions or trust companies in the City of New York, New York, or any Place of Payment are authorized
or obligated by law, regulation or executive order to remain closed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Capital Stock&rdquo; shall mean,
as to shares of a particular corporation, outstanding shares of stock of any class, whether now or hereafter authorized, irrespective
of whether such class shall be limited to a fixed sum or percentage in respect of the rights of the holders thereof to participate
in dividends and in the distribution of assets upon the voluntary liquidation, dissolution or winding up of such corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Commission&rdquo; shall mean the
Securities and Exchange Commission or any successor agency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Company&rdquo; shall mean the person
named as the &ldquo;Company&rdquo; in the first paragraph of this instrument until a successor corporation shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter &ldquo;Company&rdquo; shall mean such successor corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Company Request&rdquo; and &ldquo;Company
Order&rdquo; mean, respectively, a written request or order signed in the name of the Company by its Chief Executive Officer, President,
Chief Financial Officer, Vice President, General Counsel, Secretary or Assistant Secretary or Treasurer or Assistant Treasurer
and delivered to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Corporate Trust Office&rdquo; means
the office of the Trustee at which at any particular time its corporate trust business shall be principally administered, which
office at the date hereof is located at [ ], Attention: Metropolitan Bank Holding Corp. Administrator, or such other address as
the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of
any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the holders
and the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;covenant defeasance&rdquo; shall
have the meaning set forth in Section&nbsp;14.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Default&rdquo; or &ldquo;default&rdquo;
shall have the meaning specified in Article&nbsp;6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;defeasance&rdquo; shall have the
meaning set forth in Section&nbsp;14.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Depositary&rdquo; shall mean, with
respect to the Securities of any series issuable or issued in whole or in part in the form of one or more permanent global Securities,
the person designated as Depositary by the Company pursuant to Section&nbsp;2.03(b), which must be a clearing agency registered
under the Exchange Act, until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture,
and thereafter &ldquo;Depositary&rdquo; shall mean or include each person who is then a Depositary hereunder, and if at any time
there is more than one such person, &ldquo;Depositary&rdquo; as used with respect to the Securities of any series shall mean the
Depositary with respect to the Securities of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Dollar&rdquo; or &ldquo;$&rdquo;
shall mean a dollar or other equivalent unit in such coin or currency of the United States of America as at the time shall be legal
tender for the payment of public and private debts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Event of Default&rdquo; shall have
the meaning specified in Article&nbsp;6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Exchange Act&rdquo; shall mean the
Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Exchange Date&rdquo; shall have the
meaning set forth in Section&nbsp;2.08.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Global Security&rdquo; or &ldquo;Global
Securities&rdquo; means a Security or Securities, as the case may be, in the form established pursuant to Section&nbsp;2.03 evidencing
all or part of a Series&nbsp;of Securities, issued to the Depositary for such Series&nbsp;or its nominee, and registered in the
name of such Depositary or nominee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;holder,&rdquo; &ldquo;holder of Securities,&rdquo;
 &ldquo;securityholder&rdquo; or other similar term shall mean in the case of any Registered Security, the person in whose name
such Security is registered in the Security Register kept by the Company for that purpose, in accordance with the terms hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Indenture&rdquo; shall mean this
instrument as originally executed and delivered or as it may from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof, including without limitation, the forms and terms
of particular series of Securities established as contemplated by Article&nbsp;2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Material Subsidiary&rdquo; means
Metropolitan Commercial Bank, or any successor thereof or any Subsidiary of the Company that is a depository institution and that
has consolidated assets equal to 80% or more of the Company&rsquo;s consolidated assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Officers&rsquo; Certificate&rdquo;
shall mean a certificate signed by the Chief Executive Officer, President or other principal executive officer and by the Chief
Financial Officer or other principal financial officer or principal accounting officer, Assistant Secretary, Treasurer or Controller
of the Company and delivered to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Opinion of Counsel&rdquo; shall mean
an opinion in writing signed by legal counsel, who may be an employee of or counsel to the Company and who shall be reasonably
satisfactory to the Trustee, or who may be other counsel reasonably satisfactory to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Original Issue Discount Securities&rdquo;
shall mean any Securities that are initially sold at a discount from the principal amount thereof and that provide upon an Event
of Default for declaration of an amount less than the principal amount thereof to be due and payable upon acceleration thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Outstanding&rdquo; or &ldquo;outstanding,&rdquo;
when used with reference to Securities, shall, subject to the provisions of Section&nbsp;7.08, Section&nbsp;8.01 and Section&nbsp;8.04,
mean, as of any particular time, all Securities authenticated and delivered by the Trustee under this Indenture, except:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Securities
theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Securities,
or portions thereof, for the payment or redemption of which moneys in the necessary amount shall have been deposited in trust with
the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated and held in trust by
the Company (if the Company shall act as its own paying agent) for the holders of such Securities; provided, that if such Securities,
or portions thereof, are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided
in Article&nbsp;3, or provision satisfactory to the Trustee shall have been made for giving such notice;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Securities
that have been defeased pursuant to Section&nbsp;14.02 hereof; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Securities
that have been paid pursuant to Section&nbsp;2.09, or Securities in exchange for, in lieu of and in substitution for which other
Securities shall have been authenticated and delivered pursuant to the terms of Section&nbsp;2.07, unless proof satisfactory to
the Trustee is presented that any such Securities are held by bona fide holders in due course.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Periodic Offering&rdquo; shall mean
an offering of Securities of a series, from time to time, the specific terms of which (including, without limitation, the rate
or rates of interest or formula for determining the rate or rates of interest thereon, if any, the maturity date or dates thereof
and the redemption provisions, if any, with respect thereto) are to be determined by the Company upon the issuance of such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Person&rdquo; or &ldquo;person&rdquo;
shall mean any individual, corporation, limited liability company, partnership, joint venture, association, joint stock company,
trust, unincorporated organization or government or any agency or political subdivision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Place of Payment,&rdquo; when used
with respect to the Securities of any series, means the place or places where, subject to the provisions of Section&nbsp;4.02,
the principal of (and premium, if any, on) and any interest on the Securities of that series are payable as specified as contemplated
by Section&nbsp;2.03(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;record date&rdquo; as used with
respect to any interest payment date shall have the meaning specified in Section&nbsp;2.05.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Registered Security&rdquo; shall
mean any Security established pursuant to Section&nbsp;2.01 and Section&nbsp;2.03(b)&nbsp;that is registered on the Security Register
of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Responsible Officer,&rdquo; when
used with respect to the Trustee, shall mean any officer within Corporate Trust Office of the Trustee (or any successor group of
the Trustee), including any Vice President, Assistant Vice President, Assistant Secretary or any other officer of the Trustee customarily
performing functions similar to those performed by any of the above designated officers and also shall mean, with respect to a
particular corporate trust matter, any other officer to whom such matter is referred because of such officer&rsquo;s knowledge
of and familiarity with the particular subject, and in each case, who has direct responsibility for the administration of this
Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Securities&rdquo; shall have the
meaning set forth in the preamble of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Securities Act&rdquo; shall mean
the Securities Act of 1933, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Security Register&rdquo; and &ldquo;Security
Registrar&rdquo; shall have the respective meanings set forth in Section&nbsp;2.07(a)&nbsp;hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Senior Indebtedness&rdquo; means,
without duplication, the principal, premium, if any, unpaid interest (including interest accruing on or after the filing of any
petition in bankruptcy or for reorganization relating to the Company whether or not a claim for post-filing interest is allowed
in such proceeding), fees, charges, expenses, reimbursement and indemnification obligations, and all other amounts payable under
or in respect of the following indebtedness of the Company, whether any such indebtedness exists as of the date of the Indenture
or is created, incurred or assumed after such date: (i)&nbsp;all obligations for borrowed money, (ii)&nbsp;all obligations evidenced
by debentures, Securities or other similar instruments, (iii)&nbsp;all obligations in respect of letters of credit or bankers acceptances
or similar instruments (or reimbursement obligations with respect thereto), (iv)&nbsp;all obligations to pay the deferred purchase
price of property or services, except trade accounts payable arising in the ordinary course of business, (v)&nbsp;all indebtedness
of others guaranteed by the Company or any of its Subsidiaries or for which the Company or any of its Subsidiaries is legally responsible
or liable (whether by agreement to purchase indebtedness of, or to supply funds or to invest in, others) and (vi)&nbsp;indebtedness
secured by any mortgage, pledge, lien, charge, encumbrance or any security interest existing on property owned by the Company but
excluding any obligations of the Company which are required (as opposed to elected to be treated) as capitalized leases under United
States generally accepted accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Series&rdquo; or &ldquo;Series&nbsp;of
Securities&rdquo; means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections
2.01 and 2.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Subsidiary&rdquo; shall mean, in
respect of any Person, any corporation, association, partnership, limited liability company or other business entity of which more
than 50% of the total voting power of shares of Capital Stock or other interests (including partnership interests) entitled (without
regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time
owned or controlled, directly or indirectly, by (a)&nbsp;such Person, (b)&nbsp;such Person and one or more Subsidiaries of such
Person or (c)&nbsp;one or more Subsidiaries of such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Trust Indenture Act,&rdquo; except
as otherwise provided in this Indenture, shall mean the Trust Indenture Act of 1939, as amended, as in force at the date of this
Indenture as originally executed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Trustee&rdquo; shall mean the person
identified as &ldquo;Trustee&rdquo; in the first paragraph hereof until the acceptance of appointment of a successor trustee pursuant
to the provisions of Article&nbsp;7, and thereafter shall mean such successor trustee, and if at any time there is more than one
such person, &ldquo;Trustee&rdquo; as used with respect to the Securities of any Series&nbsp;shall mean the Trustee with respect
to Securities of that Series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;United States Alien&rdquo; shall
mean any person who, for United States federal income tax purposes, is a foreign corporation, a non-resident alien individual,
a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership to the extent that one or more of its members
is, for United States federal income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident alien
fiduciary of a foreign estate or trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;USA PATRIOT Act&rdquo; shall have
the meaning set forth in Section&nbsp;15.12 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Vice President&rdquo; when used with
respect to the Company or the Trustee shall mean any vice president, whether or not designated by a number or word or words added
before or after the title &ldquo;vice president,&rdquo; including any Executive or Senior Vice President.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ISSUE, EXECUTION, REGISTRATION AND EXCHANGE
OF SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.01. Amount Unlimited; Issuable in Series.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the execution of this Indenture, or
from time to time thereafter, Securities up to the aggregate principal amount and containing terms and conditions from time to
time authorized by or pursuant to a Board Resolution, or in an indenture supplemental hereto or Officers&rsquo; Certificate, as
set forth in Section&nbsp;2.03, may be executed by the Company and delivered to the Trustee for authentication, and the Trustee
shall thereupon authenticate and make available for delivery the Securities to or upon Company Order, without any further action
by the Company but subject to the provisions of Section&nbsp;2.03, or in an indenture supplemental hereto or Officers&rsquo; Certificate,
as set forth in Section&nbsp;2.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Securities may be issued in one or more
series. The aggregate principal amount of Securities of all series that may be authenticated and delivered and outstanding under
this Indenture is not limited hereunder. The Securities of a particular series may be issued up to the aggregate principal amount
of Securities for such series from time to time authorized by or pursuant to a Board Resolution. Securities may differ between
Series&nbsp;in respect of any matters; provided that all Series&nbsp;of Securities shall be equally and ratably entitled to the
benefits of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.02. Form&nbsp;of Trustee&rsquo;s Certificate
of Authentication.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The form of the Trustee&rsquo;s certificate
of authentication to be borne by the Securities shall be in substantially the following form:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Form&nbsp;of Trustee&rsquo;s Certificate
of Authentication</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">This is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">Dated:</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-size: 10pt">[ ] <BR>
as Trustee</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 45%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Authorized Signatory</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.03. Form&nbsp;of Securities Generally; Establishment
of Terms of Series.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Registered Securities, if any, of each series, the temporary global Securities of each series, if any, and the permanent global
Securities of each series, if any, shall be in the forms established from time to time in or pursuant to one or more Board Resolutions
(and, to the extent established pursuant to rather than set forth in one or more Board Resolutions, in an Officers&rsquo; Certificate
(to which shall be attached true and correct copies of the relevant Board Resolution(s)) detailing such establishment) or established
in an indenture supplemental hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Securities may be issued in typewritten,
printed or engraved form with such letters, numbers or other marks of identification or designation (including CUSIP numbers, if
then generally in use) and such legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate
and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule&nbsp;or
regulation made pursuant thereto or with any rule&nbsp;or regulation of any stock exchange on which the Securities may be listed,
or to conform to usage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At
or prior to the initial issuance of Securities of any series, the particular terms of Securities of such series shall be established
in or pursuant to one or more Board Resolutions (and to the extent established pursuant to rather than set forth in one or more
Board Resolutions, in an Officers&rsquo; Certificate (to which shall be attached true and correct copies of the relevant Board
Resolution(s)) detailing such establishment) or established in an indenture supplemental hereto, including the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
designation of the particular series (which shall distinguish such series from all other series);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
aggregate principal amount of such series which may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series
pursuant to this Indenture and except for any Securities which, pursuant to Section&nbsp;2.06, are deemed never to have been authenticated
and delivered hereunder);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>whether
Securities of the series are to be issuable as Registered Securities, whether any Securities of the series are to be issuable initially
in temporary global form and, if so, the name of the Depositary with respect to any such temporary global Security, and whether
any Securities of the series are to be issuable in permanent global form and, if so, whether beneficial owners of interests in
any such permanent global Security may exchange such interests for Securities of such series and of like tenor of any authorized
form and denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section&nbsp;2.07
and the name of the Depositary with respect to any such permanent global Security;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
date as of which any temporary Security in global form representing Outstanding Securities of such series shall be dated, if other
than the date of original issuance of the first Securities of the series to be issued;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
person to whom any interest on any Registered Security of the series shall be payable, if other than the person in whose name that
Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest,
the extent to which, or the manner in which, any interest payable on a temporary global Security on an interest payment date will
be paid if other than in the manner provided in Section&nbsp;2.05 and the extent to which, or the manner in which, any interest
payable on a permanent global Security on an interest payment date will be paid;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
date or dates on which the principal of the Securities of such series is payable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
rate or rates, and if applicable the method used to determine the rate, at which the Securities of such series shall bear interest,
if any, the date or dates from which such interest shall accrue, the date or dates on which such interest shall be payable and
the record date or dates for the interest payable on any Registered Securities on any interest payment date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
place or places at which, subject to the provisions of Section&nbsp;4.02, the principal of (and premium, if any, on) and any interest
on Securities of such series shall be payable, any Registered Securities of the series may be surrendered for registration of transfer,
Securities of the series may be surrendered for exchange and notices and demands to or upon the Company in respect of the Securities
of the series and this Indenture may be served;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
obligation, if any, of the Company to redeem or purchase Securities of such series, at the option of the Company or at the option
of a holder thereof, pursuant to any sinking fund or other redemption provisions and the period or periods within which, the price
or prices at which and the terms and conditions upon which Securities of the series may be so redeemed or purchased, in whole or
in part;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if
other than minimum denominations of $1,000 and any integral multiple thereof, the denominations in which any Registered Securities
of such series shall be issuable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if
other than the principal amount thereof, the portion of the principal amount of Securities of such series which shall be payable
upon declaration of acceleration of the maturity thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
currency, currencies or currency units in which payment of the principal of (and premium, if any, on) and any interest on any Securities
of the series shall be payable if other than the currency of the United States of America and the manner of determining the equivalent
thereof in the currency of the United States of America for purposes of the definition of &ldquo;Outstanding&rdquo; in Section&nbsp;1.01;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if
the principal of (and premium, if any, on) or any interest on the Securities of the series are to be payable, at the election of
the Company or a holder thereof, in one or more currencies or currency units, other than that or those in which the Securities
are stated to be payable, the currency or currencies in which payment of the principal of (and premium, if any, on) and any interest
on Securities of such series as to which such election is made shall be payable, and the periods within which and the terms and
conditions upon which such election is to be made;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(14)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if
the amount of payments of principal of (and premium, if any, on) or any interest on the Securities of the series may be determined
with reference to an index, the manner in which such amounts shall be determined;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(15)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>whether
the Securities will be issued in book-entry only form;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(16) any interest rate calculation agents,
exchange rate calculation agents or other agents with respect to Securities of such series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(17)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if
either or both of Section&nbsp;14.02 and Section&nbsp;14.03 do not apply to the Securities of the series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(18)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>whether
and under what circumstances the Company will pay Additional Amounts in respect of any series of Securities and whether the Company
has the option to redeem such Securities rather than pay such Additional Amounts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(19)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
provisions relating to the extension of maturity of, or the renewal of, Securities of such series, or the conversion of Securities
of such series into other securities of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(20)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
provisions relating to the purchase or redemption of all or any portion of a tranche or series of Securities, including the period
of notice required to redeem those Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(21)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
terms and conditions, if any, pursuant to which the Securities of the series are secured;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(22)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
subordination terms of the Securities of the series; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(23)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
other terms of the Securities or provisions relating to the payment of principal, premium (if any), or interest thereon, including,
but not limited to, whether such Securities are issuable at a discount or premium, as amortizable Securities, and if payable in,
convertible or exchangeable for commodities or for the securities of the Company or any third party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All Securities of any one series need not
be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by
or pursuant to the Board Resolution or Officers&rsquo; Certificate referred to above or as set forth in an indenture supplemental
hereto, and, unless otherwise provided, the authorized principal amount of any series may be increased to provide for issuances
of additional Securities of such series. If so provided by or pursuant to the Board Resolution or Officers&rsquo; Certificate or
supplemental indenture referred to above, the terms of such Securities to be issued from time to time may be determined as set
forth in such Board Resolution, Officers&rsquo; Certificate or supplemental indenture, as the case may be. All Securities of any
one series shall be substantially identical except as to denomination, interest rate, maturity and other similar terms and except
as may be provided otherwise by or pursuant to such Board Resolution, Officers&rsquo; Certificate or supplemental indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.04. Securities in Global Form.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If Securities of a series are issuable in
global form, as specified as contemplated by Section&nbsp;2.03(b), then, notwithstanding clause (10)&nbsp;of Section&nbsp;2.03(b)&nbsp;and
the provisions of Section&nbsp;2.05, any such Security in global form shall represent such of the Securities of such series Outstanding
as shall be specified therein, and any such Security in global form may provide that it shall represent the aggregate amount of
Securities Outstanding from time to time endorsed thereon and that the aggregate amount of Securities Outstanding represented thereby
may from time to time be reduced to reflect any exchanges of beneficial interests in such Security in global form for Securities
of such series as contemplated herein. Any endorsement of a Security in global form to reflect the amount, or any decrease in the
amount, of Securities Outstanding represented thereby shall be made by the Trustee or the Security Registrar in such manner and
upon instructions given by such person or persons as shall be specified in such Security in global form or in the Company Order
to be delivered to the Trustee pursuant to Section&nbsp;2.06 or Section&nbsp;2.08. Subject to the provisions of Section&nbsp;2.06
and, if applicable, Section&nbsp;2.08, the Trustee or the Security Registrar shall deliver and redeliver any Security in permanent
global form in the manner and upon instructions given by the person or persons specified in such Security in global form or in
the applicable Company Order. If a Company Order pursuant to Section&nbsp;2.06 or Section&nbsp;2.08 has been, or simultaneously
is, delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Security in global form
shall be in writing but need not be represented by a Company Order and need not be accompanied by an Opinion of Counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The provisions of the last sentence of Section&nbsp;2.06
shall apply to any Security represented by a Security in global form if such Security was never issued and sold by the Company
and the Company delivers to the Trustee or the Security Registrar the Security in global form together with written instructions
(which need not be represented by a Company Order and need not be accompanied by an Opinion of Counsel) with regard to the reduction
in the principal amount of Securities represented thereby, together with the written statement contemplated by the last sentence
of Section&nbsp;2.06.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the provisions of Section&nbsp;2.05,
unless otherwise specified as contemplated by Section&nbsp;2.03(b), payment of principal of and any premium and interest on any
Security in permanent global form shall be made to the persons or persons specified therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.05. Denominations; Record Date; Payment of
Interest.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Unless
otherwise provided as contemplated by Section&nbsp;2.03(b)&nbsp;with respect to any series of Securities, any Registered Securities
of a series shall be issuable in minimum denominations of $1,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
term &ldquo;record date&rdquo; as used with respect to an interest payment date for any series of a Registered Security shall mean
such day or days as shall be specified as contemplated by Section&nbsp;2.03(b); provided, that in the absence of any such provisions
with respect to any series, such term shall mean (1)&nbsp;the last day of the calendar month next preceding such interest payment
date if such interest payment date is the 15th day of a calendar month; or (2)&nbsp;the 15th day of a calendar month next preceding
such interest payment date if such interest payment date is the first day of the calendar month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise provided as contemplated
by Section&nbsp;2.03 with respect to any series of Securities, the person in whose name any Registered Security is registered at
the close of business on the record date with respect to an interest payment date shall be entitled to receive the interest payable
on such interest payment date notwithstanding the cancellation of such Security upon any registration of transfer or exchange thereof
subsequent to such record date prior to such interest payment date; provided, that if and to the extent the Company shall default
in the payment of the interest due on such interest payment date, such defaulted interest shall be paid to the persons in whose
names the Securities are registered on a subsequent record date established by notice given to the extent and in the manner set
forth in Section&nbsp;15.04 by or on behalf of the Company to the holders of Securities of the series in default not less than
15 days preceding such subsequent record date, such record date to be not less than five days preceding the date of payment of
such defaulted interest, or in any other lawful manner acceptable to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Unless
otherwise specified by Board Resolution or Company Order for a particular series of Securities, the principal of, redemption premium,
if any, on and interest, if any, on the Securities of any series shall be payable at the office or agency of the Company maintained
pursuant to Section&nbsp;4.02 in a Place of Payment for such series, in Dollars; provided, that, at the option of the Company,
payment of interest with respect to a Registered Security may be paid by check mailed to the holders of the Registered Securities
entitled thereto at their last addresses as they appear on the Security Register or wired if held in book-entry form at the Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.06. Execution, Authentication, Delivery and
Dating of Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Securities shall be signed on behalf
of the Company by its Chief Executive Officer, its President or one of its Vice Presidents. Such signatures may be the manual,
electronic or facsimile signatures of such then current officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any Security may be signed on behalf of
the Company by such persons as, at the actual date of the execution of such Security, shall be the proper officers of the Company,
although at the date of the execution of this Indenture any such person was not such officer. Securities bearing the manual, electronic
or facsimile signatures of individuals who were, at the actual date of the execution of such Security, the proper officers of the
Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to
the authentication and delivery of such Securities, as the case may be, or did not hold such offices at the date of such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the execution and delivery of this
Indenture, the Company shall deliver to the Trustee an Officers&rsquo; Certificate as to the incumbency and specimen signatures
of officers authorized to execute and deliver the Securities and give instructions under this Section&nbsp;and, as long as Securities
are Outstanding under this Indenture, such incumbency certificate shall be amended and replaced whenever an officer is to be added
or deleted from the listing. The Trustee may conclusively rely on the documents delivered pursuant to this Section&nbsp;(unless
revoked by superseding comparable documents) and Section&nbsp;2.03 hereof as to the authorization of the Board of Directors of
any Securities delivered hereunder, and the form and terms thereof, and as to the authority of the instructing officers referred
to in this Section&nbsp;so to act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee shall at any time, and from
time to time, authenticate Securities for original issue in an unlimited aggregate principal amount upon receipt by the Trustee
of a Company Order; provided, that with respect to Securities of a series subject to a Periodic Offering, (a)&nbsp;such Company
Order may be delivered to the Trustee prior to the delivery to the Trustee of such Securities for authentication and delivery,
(b)&nbsp;the Trustee shall authenticate and deliver Securities of such series for original issue from time to time, in an aggregate
principal amount not exceeding the aggregate principal amount, if any, established for such series, pursuant to a Company Order,
(c)&nbsp;the maturity date or dates, original issue date or dates, interest rate or rates and any other terms of Securities of
such series shall be determined by Company Order or pursuant to such procedures, and (d)&nbsp;if provided for in such procedures,
such Company Order may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its
duly authorized agent or agents, which oral instructions shall be promptly confirmed in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Prior to the issuance of a Security of any
new series, and the authentication thereof by the Trustee, the Trustee shall have received and (subject to Section&nbsp;7.02) shall
be fully protected in relying on:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Board Resolution or Officers&rsquo; Certificate or indenture supplemental hereto establishing the terms and the form of the Securities
of that series pursuant to Section&nbsp;2.01 and Section&nbsp;2.03;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>An
Officers&rsquo; Certificate stating that all conditions precedent provided for in this Indenture relating to the issuance, authentication
and delivery of Securities in such form have been complied with;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>An
Opinion of Counsel stating that the form and terms of such Securities have been established in conformity with the provisions of
this Indenture; provided, that with respect to Securities of a series subject to a Periodic Offering, the Trustee shall be entitled
to receive such Opinion of Counsel only once at or prior to the time of the first authentication of Securities of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">With respect to Securities of a series offered
in a Periodic Offering, the Trustee may rely, as to the authorization by the Company of any of such Securities, the form and terms
thereof and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and other documents
delivered pursuant to this Section&nbsp;in connection with the first authentication of Securities of such series unless and until
such Opinion of Counsel or other documents have been superseded or revoked. In connection with the authentication and delivery
of Securities of a series subject to a Periodic Offering, the Trustee shall be entitled to assume that the Company&rsquo;s instructions
to authenticate and deliver such Securities do not violate any rules, regulations or orders of any governmental agency or commission
having jurisdiction over the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Registered Security shall be dated
the date of its authentication except as otherwise provided by Board Resolution or Officers&rsquo; Certificate or indenture supplemental
hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The aggregate principal amount of Securities
of any series outstanding at any time may not exceed any limit upon the maximum principal amount for such series set forth in or
pursuant to the Board Resolution or Officers&rsquo; Certificate or indenture supplemental hereto delivered pursuant to Section&nbsp;2.03,
except as provided in Section&nbsp;2.08.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No Security shall be entitled to any benefit
under this Indenture or be valid or obligatory for any purpose unless there appears on such Security, a certificate of authentication
substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security
shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder. Notwithstanding
the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company,
and the Company shall deliver such Security to the Trustee for cancellation as provided in Section&nbsp;2.10 together with a written
statement stating that such Security has never been issued and sold by the Company, for all purposes of this Indenture such Security
shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.07. Exchange and Registration of Transfer
of Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Company shall keep, at an office or agency to be designated and maintained by the Company in accordance with Section&nbsp;4.02
(as such, a &ldquo;Security Registrar&rdquo;), registry books (the &ldquo;Security Register&rdquo;) in which, subject to such reasonable
regulations as it may prescribe, the Company shall register Registered Securities and shall register the transfer of Registered
Securities of each such series as provided in this Article&nbsp;2. Such Security Register shall be in written form or in any other
form capable of being converted into written form within a reasonable time. At all reasonable times such Security Register shall
be open for inspection by the Trustee. Upon due presentment for registration of transfer of any Registered Security of a particular
series at such office or agency maintained pursuant to Section&nbsp;4.02 for such purpose in a Place of Payment, the Company shall
execute and register and the Trustee shall authenticate and make available for delivery in the name of the transferee or transferees
a new Registered Security or Registered Securities of such series of any authorized denominations and for an equal aggregate principal
amount and tenor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At
the option of the holder, Registered Securities of any series may be exchanged for other Registered Securities of the same series
of any authorized denominations and of an equal aggregate principal amount and tenor. Registered Securities to be exchanged shall
be surrendered at any such office or agency maintained pursuant to Section&nbsp;4.02 for such purpose in a Place of Payment, and
the Company shall execute and register and the Trustee shall authenticate and make available for delivery in exchange therefor
the Security or Securities that the securityholder making the exchange shall be entitled to receive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All
Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing
the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of
transfer or exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All Registered Securities presented for
registration of transfer or for exchange, redemption or payment, as the case may be, shall (if so required by the Company or the
Trustee) be duly endorsed by, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the
Company and the Trustee or the Security Registrar duly executed by, the holder thereof or his attorney duly authorized in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No service charge shall be made for any
exchange or registration of transfer of Securities, but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection therewith, other than exchanges pursuant to the terms of this Indenture
not involving any transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall not be required (1)&nbsp;to
exchange or register the transfer of Securities of any series to be redeemed for a period of 15 days next preceding any selection
of such Securities to be redeemed, or (2)&nbsp;to exchange or register the transfer of any Registered Security so selected, called
or being called for redemption, except in the case of any such series to be redeemed in part the portion thereof not to be so redeemed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding
the foregoing, except as otherwise specified as contemplated by Section&nbsp;2.03(b), any permanent global Security shall be exchangeable
pursuant to this Section&nbsp;only as provided in this paragraph. If the beneficial owners of interests in a permanent global Security
are entitled to exchange such interests for Securities of such series and of like tenor and principal amount of another authorized
form and denomination, as specified as contemplated by Section&nbsp;2.03(b), then without unnecessary delay but in any event not
later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee or the Security
Registrar definitive Securities of that series in aggregate principal amount equal to the principal amount of such permanent global
Security executed by the Company. On or after the earliest date on which such interests may be so exchanged, in accordance with
instructions given by the Company to the Trustee or the Security Registrar and the Depositary (which instructions shall be in writing),
such permanent global Security shall be surrendered from time to time by the Depositary or such other depositary as shall be specified
in the Company Order with respect thereto to the Trustee, as the Company&rsquo;s agent for such purpose, or to the Security Registrar,
to be exchanged, in whole or in part, for definitive Securities of the same series without charge and the Trustee shall authenticate
and make available for delivery in accordance with such instructions, in exchange for each portion of such permanent global Security,
a like aggregate principal amount of definitive Securities of the same series of authorized denominations and of like tenor as
the portion of such permanent global Security to be exchanged which shall be in the form of Registered Securities; provided, that
no such exchanges may occur for a period of 15 days next preceding any selection of Securities of that series and of like tenor
for redemption. Promptly following any such exchange in part, such permanent global Security should be returned by the Trustee
or the Security Registrar to the Depositary or such other depositary referred to above in accordance with the instructions of the
Company referred to above. If a Registered Security is issued in exchange for any portion of a permanent global Security after
the close of business at the office or agency where such exchange occurs on (i)&nbsp;any record date and before the opening of
business at such office or agency on the relevant interest payment date, or (ii)&nbsp;any special record date and before the opening
of business at such office or agency on the related proposed date for payment of defaulted interest as provided in Section&nbsp;2.05,
interest or defaulted interest, as the case may be, will not be payable on such interest payment date or proposed date for payment,
as the case may be, in respect of such Registered Security, but will be payable on such interest payment date or proposed date
for payment, as the case may be, only to the person to whom interest in respect of such portion of such permanent global Security
is payable in accordance with the provisions of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding
anything contained herein to the contrary, neither the Trustee nor the Security Registrar shall be responsible for ascertaining
whether any transfer complies with the restrictions set forth in this Indenture, the registration provisions of or exemptions from
the Securities Act or applicable state securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.08. Temporary Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pending the preparation of definitive Securities
of any series, the Company may execute and the Trustee shall, upon Company Order, authenticate and make available for delivery,
temporary Securities of such series (typewritten, printed, lithographed or otherwise produced). Such temporary Securities, in any
authorized denominations, shall be substantially in the form of the definitive Securities in lieu of which they are issued, in
registered form, in the form approved from time to time by or pursuant to a Board Resolution but with such omissions, insertions,
substitutions and other variations as may be appropriate for temporary Securities, all as may be determined by the Company, but
not inconsistent with the terms of this Indenture or any provision of applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except in the case of temporary Securities
in global form (which shall be exchanged as hereinafter provided), if temporary Securities of any series are issued, the Company
will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive
Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series
upon surrender of the temporary Securities of such series at the office or agency of the Company maintained pursuant to Section&nbsp;4.02
in a Place of Payment for such series for the purpose of exchanges of Securities of such series, without charge to the holder.
Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee
shall authenticate and make available for delivery in exchange therefor a like aggregate principal amount of definitive Securities
of the same series and of like tenor of authorized denominations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Without unnecessary delay but in any event
not later than the date specified in, or determined pursuant to the terms of, any such temporary global Security of a series (the
 &ldquo;Exchange Date&rdquo;), the Company shall deliver to the Trustee definitive Securities of that series, in aggregate principal
amount equal to the principal amount of such temporary global Security, executed by the Company. On or after the Exchange Date
such temporary global Security shall be presented and surrendered by the Depositary to the Trustee, as the Company&rsquo;s agent
for such purpose, or to the Security Registrar, to be exchanged, in whole or from time to time in part, for definitive Securities
of such series without charge, and the Trustee shall authenticate and make available for delivery, in exchange for each portion
of such temporary global Security, a like aggregate principal amount of definitive Securities of the same series of authorized
denominations and of like tenor as the portion of such temporary global Security to be exchanged.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Every temporary Security shall be executed
by the Company and be authenticated by the Trustee upon the same conditions and in substantially the same manner, and with like
effect, as the definitive Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.09. Mutilated, Destroyed, Lost or Stolen Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If any mutilated Security is surrendered
to the Trustee, the Company shall execute and the Trustee shall authenticate and make available for delivery in exchange therefor
a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If there shall be delivered to the Company
and the Trustee (a)&nbsp;evidence to their satisfaction of the destruction, loss or theft of any Security and (b)&nbsp;such security
or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of
notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall, subject
to the following paragraph, execute and the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed,
lost or stolen Security, a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case any such mutilated, destroyed, lost
or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new
Security, pay such Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the issuance of any new Security under
this Section, the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed
in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Every new Security of any series issued
pursuant to this Section&nbsp;in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual
obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and
any such new Security, if any, shall be entitled to all the benefits of this Indenture equally and proportionately with any and
all other Securities of that series duly issued hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The provisions of this Section&nbsp;are
exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.10. Cancellation.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All Securities surrendered for payment,
redemption, exchange or registration of transfer or for credit against any sinking fund payment, as the case may be, shall, if
surrendered to the Company or any agent of the Company or of the Trustee, be delivered to the Trustee. All Registered Securities
so delivered shall be promptly cancelled by the Trustee, upon written request of the Company. The Company may deliver to the Trustee
for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner
whatsoever, and may deliver to the Trustee (or to any other person for delivery to the Trustee) for cancellation any Securities
previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly
cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided
in this Section&nbsp;except as expressly provided by this Indenture. Any cancelled Securities held by the Trustee shall be disposed
in accordance with its then customary procedures and, upon written request of the Company, the Trustee shall deliver to the Company
a certificate of such disposal. The acquisition of any Securities by the Company shall not operate as a redemption or satisfaction
of the Indebtedness represented thereby unless and until such Securities are surrendered to the Trustee for cancellation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;2.11. Book-Entry Only System.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If specified by the Company pursuant to
Section&nbsp;2.03(b)&nbsp;with respect to Securities represented by a Security in global form, a series of Securities may be issued
initially in book-entry only form and, if issued in such form, shall be represented by one or more Securities in global form registered
in the name of the Depositary or other depositary designated with respect thereto. So long as such system of registration is in
effect, (a)&nbsp;Securities of such series so issued in book-entry only form will not be issuable in the form of or exchangeable
for Securities in certificated or definitive registered form, (b)&nbsp;the records of the Depositary or such other depositary will
be determinative for all purposes and (c)&nbsp;neither the Company, the Trustee nor any paying agent, Security Registrar or transfer
agent for such Securities will have any responsibility or liability for (i)&nbsp;any aspect of the records relating to or payments
made on account of owners of beneficial interests in the Securities of such series, (ii)&nbsp;maintaining, supervising or reviewing
any records relating to such beneficial interests, (iii)&nbsp;receipt of notices, voting and requesting or directing the Trustee
to take, or not to take, or consenting to, certain actions hereunder, or (iv)&nbsp;the records and procedures of the Depositary,
or such other depositary, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Members of, or participants in, the Depositary
shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary, or the Trustee
as its custodian, or under the Global Security, 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 the Global Security for all purposes whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REDEMPTION OF SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;3.01. Redemption of Securities, Applicability
of Section.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Redemption of Securities of any series as
permitted or required by the terms thereof shall be made in accordance with the terms of such Securities as specified pursuant
to Section&nbsp;2.03 hereof and this Article; provided, however, that if any provision of any series of Securities shall conflict
with any provision of this Section, the provision of such series of Securities shall govern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;3.02. Notice of Redemption, Selection of Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case the Company shall desire to exercise
the right to redeem all or, as the case may be, any part of a series of Securities pursuant to Section&nbsp;3.01, it shall fix
a date for redemption. Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company,
or, at the Company&rsquo;s written request, by the Trustee in the name and at the expense of the Company. The Company or the Trustee,
as the case may be, shall give notice of such redemption, in the manner and to the extent set forth in Section&nbsp;15.04, on that
date prior to the date fixed for a redemption to the holders of such Securities so to be redeemed, as a whole or in part, (a)&nbsp;as
set forth in Board Resolutions, as described in Section&nbsp;2.03, or (b)&nbsp;as determined by the Chief Executive Officer, the
Chief Financial Officer, the President, the Treasurer, any Executive Vice President, the Secretary and each officer of the Company
designated by any of the foregoing officers (each, an &ldquo;Authorized Officer&rdquo;) and evidenced by the preparation of an
offering document or an Officers&rsquo; Certificate specifying the period of notice of such redemption. If the Board Resolutions
or an Authorized Officer do not specify a longer period of notice of such redemption, the Company or, at the written request of
the Company, the Trustee, shall give notice of such redemption, in the manner and to the extent set forth in Section&nbsp;15.04,
at least ten Business Days and not more than 60 calendar days prior to the date fixed for a redemption to the holders of such Securities
so to be redeemed as a whole or in part. Notice given in such manner shall be conclusively presumed to have been duly 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
such Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption
of any other such Security. If the Company requests the Trustee to give any notice of redemption, it shall make such request in
writing in an Officers&rsquo; Certificate delivered to the Trustee at least ten days prior to the designated date for delivering
such notice, unless a shorter period is satisfactory to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each such notice of redemption shall specify
the date fixed for redemption, the redemption price at which such Securities are to be redeemed, the CUSIP numbers of such Securities,
the Place of Payment where such Securities maturing after the date of redemption, are to be surrendered for payment of the redemption
prices, that payment will be made upon presentation and surrender of such Securities, that interest accrued to the date fixed for
redemption will be paid as specified in the notice, and that on and after the date interest thereon or on the portions thereof
to be redeemed will cease to accrue. If less than all of a series is to be redeemed, the notice of redemption shall specify the
numbers of the Securities to be redeemed. In case any Security is to be redeemed in part only, the notice of redemption shall state
the portion of the principal amount thereof to be redeemed and shall state that, upon surrender of such Security, a new Security
or Securities of the same series in principal amount equal to the unredeemed portion thereof will be issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On or before the redemption date specified
in the notice of redemption given as provided in this Section, the Company will deposit in trust with the Trustee or with one or
more paying agents an amount of money sufficient to redeem on the redemption date all the Securities or portions of Securities
so called for redemption at the appropriate redemption price, together with accrued interest, if any, to the date fixed for redemption.
If less than all of a series of Securities is to be redeemed, the Company will give the Trustee adequate written notice at least
45 days in advance (unless a shorter notice shall be satisfactory to the Trustee) as to the aggregate principal amount of Securities
to be redeemed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If less than all the Securities of a series
are to be redeemed, the Trustee shall select, by lot or in such other manner is it shall deem appropriate and fair, not more than
60 days prior to the date of redemption, the numbers of such Securities Outstanding not previously called for redemption, to be
redeemed in whole or in part. The portion of principal of Securities so selected for partial redemption shall be equal to the minimum
authorized denomination for Securities of that series or any integral multiple thereof. The Trustee shall promptly notify the Company
of the Securities to be redeemed. If, however, less than all the Securities of a series having differing issue dates, interest
rates and stated maturities are to be redeemed, the Company in its sole discretion shall select the particular Securities of such
series to be redeemed and shall notify the Trustee in writing at least 45 days prior to the relevant redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;3.03. Payment of Securities Called for Redemption.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If notice of redemption has been given as
above provided, the Securities or portions of Securities with respect to which such notice has been given shall become due and
payable on the date and at the place stated in such notice at the applicable redemption price, together with any interest accrued
to the date fixed for redemption, and on and after that date (unless the Company shall default in the payment of such Securities
at the redemption price, together with interest accrued to that date) interest on such Securities or portions of Securities so
called for redemption shall cease to accrue. On presentation and surrender of such Securities subject to redemption at the Place
of Payment and in the manner specified in such notice, such Securities or the specified portions thereof shall be paid and redeemed
by the Company at the applicable redemption price, together with interest accrued thereon to the date fixed for redemption; provided,
that unless otherwise specified as contemplated by Section&nbsp;2.03, installments of interest on Registered Securities whose stated
maturity date is on or prior to the date of redemption shall be payable to the holders of such Registered Securities, or one or
more predecessor Securities, registered as such at the close of business on the relevant record dates according to their terms
and the provisions of Section&nbsp;2.05.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At the option of the Company, payment with
respect to Registered Securities may be made by check to the holders of such Securities or other persons entitled thereto against
presentation and surrender of such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any Security that is to be redeemed only
in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by,
or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the holder thereof or
such holder&rsquo;s attorney duly authorized in writing), and upon such presentation, the Company shall execute and the Trustee
shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Security or Securities
of the same series, of authorized denominations, in aggregate principal amount equal to the unredeemed portion of the principal
of the Security so presented. If a temporary global Security or permanent global Security is so surrendered, such new Security
so issued shall be a new temporary global Security or permanent global Security, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;3.04. Redemption Suspended During Event of Default.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee shall not redeem any Securities
(unless all Securities then outstanding are to be redeemed) or commence the giving of any notice of redemption of Securities during
the continuance of any Event of Default of which a Responsible Officer of the Trustee has actual knowledge or has received written
notice thereof, except that where the giving of notice of redemption of any Securities shall theretofore have been made, the Trustee
shall redeem such Securities, provided funds are deposited with it for such purpose. Except as aforesaid, any moneys theretofore
or thereafter received by the Trustee shall, during the continuance of such Event of Default, be held in trust for the benefit
of the securityholders and applied in the manner set forth in Section&nbsp;6.06; provided, that in case such Event of Default shall
have been waived as provided herein or otherwise cured, such moneys shall thereafter be held and applied in accordance with the
provisions of this Article.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PARTICULAR COVENANTS OF THE COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.01. Payment of Principal, Premium and Interest.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will duly and punctually pay
or cause to be paid the principal of (and premium, if any, on) and any interest on each of the Securities of a series at the place,
at the respective times and in the manner provided in the terms of the Securities and this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.02. Offices for Notices and Payments.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If Securities of a series are issuable only
as Registered Securities, the Company will maintain in each Place of Payment for such series an office or agency where Securities
of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration
of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this
Indenture may be served.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will give to the Trustee notice
of the location of each such office or agency and of any change in the location thereof. In case the Company shall fail to maintain
any such office or agency as required, or shall fail to give such notice of the location or of any change in the location thereof,
presentations and surrenders of Securities of that series may be made and notices and demands may be served at the Corporate Trust
Office of the Trustee, and the Company hereby appoints the same as its agent to receive such respective presentations, surrenders,
notices and demands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company may also from time to time designate
one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations; provided, that no such designation or rescission shall in any
manner relieve the Company of its obligation to maintain an office or agency in accordance with the requirements set forth above
for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee and the holders 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company hereby initially designates
the principal Corporate Trust Office of the Trustee as the office of the Company where Registered Securities may be presented for
payment, for registration of transfer and for exchange as in this Indenture provided and where notices and demands to or upon the
Company in respect of the Securities or of this Indenture may be served; provided, however, that the Trustee shall not be deemed
an agent of the Company for service of legal process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.03. Provisions as to Paying Agent.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Whenever
the Company shall appoint a paying agent other than the Trustee with respect to the Securities of any series, it will cause such
paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the
provisions of this Section:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>that
it will hold sums held by it as such agent for the payment of the principal of (and premium, if any, on) or any interest on the
Securities of such series (whether such sums have been paid to it by the Company or by any other obligor on the Securities of such
series) in trust for the benefit of the persons entitled thereto until such sums shall be paid to such persons or otherwise disposed
of as herein provided and will notify the Trustee of the receipt of sums to be so held;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>that
it will give the Trustee notice of any failure by the Company (or by any other obligor on the Securities of such series) to make
any payment of the principal of (or premium, if any, on) or any interest on the Securities of such series when the same shall be
due and payable; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>that
at any time when any such failure has occurred and is continuing, it will, upon the written request of the Trustee, forthwith pay
to the Trustee all sums so held in trust by such paying agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If
the Company shall act as its own paying agent, it will, on or before each due date of the principal of (and premium, if any) or
any interest on the Securities of any series, set aside, segregate and hold in trust for the benefit of the persons entitled thereto
a sum sufficient to pay such principal (and premium, if any) or any interest so becoming due until such sums shall be paid to such
persons or otherwise disposed of as herein provided. The Company will promptly notify the Trustee of any failure to take such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Whenever
the Company shall have one or more paying agents with respect to a series of Securities, it will, on or prior to each due date
of the principal of (and premium, if any, on) or any interest on, any Securities, deposit with a paying agent a sum sufficient
to pay the principal (and premium, if any) or any interest, so becoming due, such sum to be held in trust for the benefit of the
Persons entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly
notify the Trustee of its action or failure so to act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Anything
in this Section&nbsp;to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining the satisfaction
and discharge of this Indenture with respect to one or more or all series of Securities hereunder, or for any other reason, pay
or cause to be paid to the Trustee all sums held in trust for such series by it or any paying agent hereunder as required by this
Section, such sums to be held by the Trustee upon the trusts herein contained, and upon such payment by any paying agent to the
Trustee, such paying agent shall be released from all further liability with respect to such money.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Anything
in this Section&nbsp;to the contrary notwithstanding, the agreement to hold sums in trust as provided in this Section&nbsp;is subject
to the provisions of Section&nbsp;12.03 and Section&nbsp;12.04.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.04. Statement as to Compliance.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will deliver to the Trustee,
within 120 days after the end of each fiscal year of the Company, commencing with the fiscal year ending in the year during which
the first series of Securities is issued hereunder (but in no event more than one year from the issuance of the first series hereunder),
an Officers&rsquo; Certificate signed by the Chief Executive Officer, President or other principal executive officer and by the
Chief Financial Officer or other principal financial officer or principal accounting officer, Assistant Secretary, Treasurer or
Controller of the Company, stating, as to each signer thereof, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>a
review of the activities of the Company during such year and of performance under this Indenture has been made under his supervision;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
the best of his knowledge, based on such review, the Company has fulfilled all its obligations under this Indenture throughout
such year, or, if there has been a default in the fulfillment of any such obligation, specifying each such default known to him
and the nature and status thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.05. Corporate Existence.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Article&nbsp;11,
the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence,
rights (charter and statutory) and franchises and the corporate existence and rights (charter and statutory) and franchises of
its Subsidiaries; provided, that the Company shall not be required to, or to cause any Subsidiary to, preserve any right or franchise
or to keep in full force and effect the corporate existence of any Subsidiary if the Company shall determine that the keeping in
existence or preservation thereof is no longer desirable in or consistent with the conduct of the business of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.06. Reserved.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;4.07. Waiver of Covenants.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company may omit in any particular instance
to comply with any covenant or condition set forth herein if before or after the time for such compliance the holders of a majority
in principal amount of the Securities of all series affected thereby then Outstanding shall either waive such compliance in such
instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant
or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company
in respect of any such covenant or condition shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITYHOLDER LISTS AND REPORTS BY THE
COMPANY AND THE TRUSTEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;5.01. Securityholder Lists.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants and agrees that it
will furnish or cause to be furnished to the Trustee (1)&nbsp;semiannually, within 15 days before each record date when any Securities
of a series are Outstanding, a list, in such form as the Trustee may reasonably require, of all information in the possession or
control of the Company as to the names and addresses of the holders of such Registered Securities as of such date, and (2)&nbsp;at
such other times as the Trustee may request in writing, within 10 days after receipt by the Company of any such request, a list,
in such form as the Trustee may reasonably require, of all information in the possession or control of the Company as to the names
and addresses of the holders of Registered Securities of a particular series specified by the Trustee as of a date not more than
15 days prior to the time such information is furnished; provided, that if and so long as the Trustee shall be the Security Registrar
with respect to such series, such list shall not be required to be furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;5.02. Preservation and Disclosure of Lists.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the
holders of each series of Securities contained in the most recent list furnished to it as provided in Section&nbsp;5.01 or received
by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in Section&nbsp;5.01
upon receipt of a new list so furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Securityholders
may communicate as provided in Section&nbsp;312(b)&nbsp;of the Trust Indenture Act with other securityholders with respect to their
rights under this Indenture or under the Securities. The Company, the Trustee, the Security Registrar and anyone else shall have
the protection of Section&nbsp;312(c)&nbsp;of the Trust Indenture Act with respect to the sending of any material pursuant to a
request made pursuant to Section&nbsp;312(b)&nbsp;of the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;5.03. Reports by the Company.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Company covenants so long as Securities are Outstanding, the Company shall file with the Trustee and the Commission, and transmit
to holders, copies of such information, documents and other reports, and such summaries thereof, as may be required pursuant to
the Trust Indenture Act at the times and in the manner provided pursuant to such Act; provided, that with respect to any such information,
documents or reports required to be filed with the Commission pursuant to Section&nbsp;13 or 15(d)&nbsp;of the Exchange Act, the
Company intends to file such information, documents or reports with the Commission in electronic form in accordance with Regulation
S-T of the Commission using the Commission&rsquo;s Electronic Data Gathering, Analysis and Retrieval system. Compliance with the
foregoing, or any successor electronic system approved by the Commission, will constitute delivery by the Company of such reports
to the Trustee and holders in compliance with the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding
anything to the contrary herein, the Trustee will have no duty to search for or obtain any electronic or other filings that the
Company makes with the Commission, regardless of whether such filings are periodic, supplemental or otherwise. Delivery of the
reports, information and documents to the Trustee in accordance with this Section&nbsp;5.03 will be solely for the purposes of
compliance with Section&nbsp;314(a)&nbsp;of the Trust Indenture Act. The Trustee&rsquo;s receipt of such reports, information and
documents (whether or not filed in electronic form) is for informational purposes only and the Trustee&rsquo;s receipt of such
will not constitute actual or constructive notice of any information contained therein or determinable from information contained
therein, including the Company&rsquo;s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers&rsquo; Certificates). The Trustee shall have no liability or responsibility for the filing, content or
timelines of any report hereunder aside from any report transmitted under this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;5.04. Reports by the Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Within
60 days after [ ] of each year commencing with the first [ ] following the first issuance of Securities pursuant to Section&nbsp;2.01,
so long as any Securities are outstanding hereunder and if there has been any change in the following, the Trustee shall transmit
by mail, first-class postage prepaid, to the securityholders, as their names appear upon the Security Register, a brief report
dated as of such [ ] with respect to any of the events specified in Section&nbsp;313(a)&nbsp;and Section&nbsp;313(b)(2)&nbsp;of
the Trust Indenture Act that may have occurred since the later of the immediately preceding [ ] and the date of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Trustee shall transmit the reports required by Section&nbsp;313(a)&nbsp;of the Trust Indenture Act at the times specified therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Trustee shall comply with Sections 313(b)&nbsp;and 313(c)&nbsp;of the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Reports
under this Section&nbsp;will be transmitted in the manner and to the Persons required by Section&nbsp;313(c)&nbsp;and Section&nbsp;313(d)&nbsp;of
the Trust Indenture Act. The Company agrees to notify the Trustee when any Securities become listed on any stock exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REMEDIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.01. Events of Default; Acceleration of Maturity.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case one or more of the following Events
of Default with respect to a particular series shall have occurred and be continuing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>default
in (i)&nbsp;the payment of the principal of (or premium, if any, on) any of the Securities of such series as and when the same
shall become due and payable either at maturity, upon redemption, by declaration or otherwise or (ii)&nbsp;any payment required
by any sinking or analogous fund established with respect to that series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>default
in the payment of any installment of interest upon any of the Securities of such series as and when the same shall become due and
payable, and continuance of such default for a period of 90 days;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>failure
on the part of the Company duly to observe or perform any other of the covenants or agreements on the part of the Company contained
in the Securities or in this Indenture for a period of 90 days after the date on which written notice of such failure, requiring
the Company to remedy the same, shall have been given to the Company by the Trustee, or to the Company and the Trustee by the holders
of at least 25% in aggregate principal amount of the Securities of that series at the time Outstanding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>a
court having jurisdiction in the premises shall enter a decree or order for relief in respect of the Company or the Material Subsidiary
in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing
a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Company or any Material Subsidiary
or for any substantial part of their respective property, or ordering the winding-up or liquidation of its affairs and such decree
or order shall remain unstayed and in effect for a period of 60 consecutive days;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Company or the Material Subsidiary shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar
law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case under any such law,
or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator
(or similar official) of the Company or the Material Subsidiary or for any substantial part of their respective property, or shall
make any general assignment for the benefit of creditors; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
other Event of Default provided with respect to Securities of that series; then, if an Event of Default described in clause (a),
(b), (c), or (f)&nbsp;shall have occurred and be continuing, and in each and every such case, unless the principal amount of all
the Securities of such series shall have already become due and payable, either the Trustee or the holders of not less than 25%
in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company
(and to the Trustee if given by securityholders) may declare the principal amount of all the Securities (or, with respect to Original
Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities) of that series to be due and
payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in
this Indenture or in the Securities of such series contained to the contrary notwithstanding; or, if an Event of Default described
in clause (d)&nbsp;or (e)&nbsp;shall have occurred and be continuing, and in each and every such case, unless the principal of
all the Securities of such series shall have already become due and payable, either the Trustee or the holders of not less than
25% in aggregate principal amount of all the Securities of that series then Outstanding hereunder, by notice in writing to the
Company (and to the Trustee if given by securityholders), may declare the principal of all the Securities (or, with respect to
Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities) to be due and payable
immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture
or in the Securities contained to the contrary notwithstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.02. Rescission and Annulment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The provisions in Section&nbsp;6.01 are
subject to the condition that if, at any time after the principal of the Securities of any one or more of all series, as the case
may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall
have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient
to pay all matured installments of interest upon all the Securities of such series or of all the Securities, as the case may be,
and the principal of (and premium, if any, on) all Securities of such series or of all the Securities, as the case may be (or,
with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which
shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any) and, to the extent
that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the
rate of interest specified in the Securities of such series or all Securities, as the case may be (or, with respect to Original
Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon
maturity, redemption or acceleration of such series, as the case may be), to the date of such payment or deposit, and such amount
as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses
and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence or willful misconduct, and
any and all defaults under the Indenture, other than the non-payment of the principal of Securities that has become due by acceleration,
shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities
of such series (or of all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee,
may waive all defaults with respect to that series or with respect to all Securities, as the case may be in such case, treated
as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall
extend to or shall affect any subsequent default or shall impair any right consequent thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case the Trustee shall have proceeded
to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission
and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company,
the Trustee and the securityholders, as the case may be, shall be restored respectively to their former positions and rights hereunder,
and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as
though no such proceedings had been taken.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.03. Collection of Indebtedness and Suits for
Enforcement by Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants that if</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>default
is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default
continues for a period of 90 days, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>default
is made in the payment of the principal or premium, if any, of any Security at the maturity thereof, including any maturity occurring
by reason of a call for redemption or otherwise, the Company will, upon demand of the Trustee, pay to it, for the benefit of the
holders of such Securities, the whole amount that shall have become due and payable on such Securities for principal or premium,
if any, and interest, with interest upon the overdue principal and, to the extent that payment of such interest shall be legally
enforceable, upon overdue installments of interest, at the rate borne by such Securities; and, in addition thereto, such further
amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Company fails to pay such amounts
forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding
for the collection of the sums so due and unpaid, and may prosecute such proceedings to judgment or final decree, and may enforce
the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable
in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If an Event of Default occurs and is continuing,
the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the securityholders by such appropriate
judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific
enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce
any other proper remedy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.04. Trustee May&nbsp;File Proofs of Claim.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the case of the pendency of a receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative
to the Company or any other obligor upon the Securities or the property of the Company or such other obligor or their creditors,
the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration
or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal
or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
file and prove a claim for the whole amount of principal and premium, if any, and any interest owing and unpaid in respect of the
Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee
(including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel)
and of the holders of Securities allowed in such judicial proceeding; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any
receiver, assignee, trustee, liquidator or sequestrator (or other similar official) in any such judicial proceeding is hereby authorized
by each holder of Securities 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 of Securities, to pay to the Trustee any amount due to it for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section&nbsp;7.06.
To the extent that such payment of reasonable compensation, expenses, disbursements, advances and other amounts out of the estate
in any such proceedings 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, moneys, securities and other property which the holders of the Securities may be entitled
to receive in such proceedings, whether in liquidation or under any plan or reorganization or arrangements or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Nothing herein contained shall be deemed
to authorize the Trustee to authorize or consent to or accept or adopt on behalf of the holder of a Security any plan of reorganization,
arrangement, adjustment or composition affecting the Securities or the rights of any holder thereof, or to authorize the Trustee
to vote in respect of the claim of any holder of a Security in any such proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.05. Trustee May&nbsp;Enforce Claims Without
Possession of Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All rights of action and claims under this
Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the
production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its
own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Securities
in respect of which such judgment has been recovered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.06. Application of Money Collected.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any money collected by the Trustee pursuant
to this Article&nbsp;shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution
of such money on account of principal or premium, if any, or any interest, upon presentation of the Securities, as the case may
be, and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FIRST: To the payment of all amounts due
the Trustee under Section&nbsp;7.06 or 14.05;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECOND: To the payment of all Senior Indebtedness
of the Company if and to the extent required by Article&nbsp;16;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIRD: To the payment of the amounts then
due and unpaid upon the Securities for principal of and premium, if any, and any interest on the Securities, in respect of which
or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the
amounts due and payable on such Securities, for principal and any interest, respectively; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FOURTH: To the Company or its successors
or assigns, or to whomsoever may be lawfully entitled to receive the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.07. Limitation on Suits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No holder of any Security of any series
shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment
of a receiver or trustee, or for any other remedy hereunder, unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>such
holder has previously given written notice to the Trustee of a continuing Event of Default;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made written request to
the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>such
holder or holders have offered to the Trustee indemnity against the costs, expenses and liabilities to be incurred in compliance
with such request;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceedings;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>no
direction inconsistent with such written request has been given to the Trustee during such 60-day period by the holders of a majority
in principal amount of the Outstanding Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">it being understood and intended that no one or more such holders
of Securities shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect,
disturb or prejudice the rights of any other of such holders of Securities or to obtain or to seek to obtain priority or preference
over any other of such holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal
and ratable benefit of all such holders of Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.08. Unconditional Right of Securityholders
to Receive Principal and Interest.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding any other provision in this
Indenture, the holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal
of and premium, if any, and (subject to Section&nbsp;2.05 and Section&nbsp;3.02) any interest on such Security on the respective
stated maturities expressed in such Security (or, in the case of redemption, on the redemption date) and to institute suit for
the enforcement of any such payment, and such right shall not be impaired without the consent of such holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.09. Restoration of Rights and Remedies.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Trustee or any holder of a Security
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 the Company,
the Trustee and the holders of Securities shall, subject to any determination in such proceeding, 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.10. Rights and Remedies Cumulative.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as provided in Section&nbsp;2.09,
no right or remedy herein conferred upon or reserved to the Trustee or to the holders of Securities is intended to be exclusive
of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment
of any right or remedy hereunder or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate
right or remedy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.11. Delay or Omission Not Waiver.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No delay or omission of the Trustee or of
any holder of any Security to exercise any right or remedy accruing upon any Default shall impair any such right or remedy or constitute
a waiver of any such Default or any acquiescence therein. Every right and remedy given by this Article&nbsp;or by law to the Trustee
or to the holders of Securities may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or
by the holders of Securities, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.12. Control by Securityholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The holders of a majority in principal amount
of Outstanding Securities of each series shall have the right to direct the time, method and place of conducting any proceeding
for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee, provided that</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>such
direction shall not be in conflict with any statute, rule&nbsp;of law or with this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee need not take any action which it in good faith determines might involve it in personal liability or be unjustly prejudicial
to the securityholders not consenting (provided, however, that the Trustee shall not have an affirmative obligation to determine
whether such action is unduly prejudicial to the securityholders not consenting).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon receipt by the Trustee of any such
direction with respect to Securities of a series all or part of which is represented by a temporary global Security or a permanent
global Security, the Trustee shall establish a record date for determining holders of Outstanding Securities of such series entitled
to join in such direction, which record date shall be at the close of business on the day the Trustee receives such direction.
The holders on such record date, or their duly designated proxies, and only such persons, shall be entitled to join in such direction,
whether or not such holders remain holders after such record date, provided that, unless such majority in principal amount shall
have been obtained prior to the day which is 90 days after such record date, such direction shall automatically and without further
action by any holder be cancelled and of no further effect. Nothing in this paragraph shall prevent a holder, or a proxy of a holder,
from giving, after expiration of such 90-day period, a new direction identical to a direction which has been cancelled pursuant
to the proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this
Section&nbsp;6.12.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.13. Waiver of Past Defaults.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The holders of a majority in principal amount
of the Securities of each series at the time Outstanding may, on behalf of the holders of all the Securities of that series, waive
any past default hereunder and its consequences, except a default:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>in
the payment of the principal of, premium, if any, or any interest on any Security; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>in
respect of a covenant or provision hereof that pursuant to Article&nbsp;10 cannot be modified or amended without the consent of
the holder of each Outstanding Security affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon any such waiver, such default shall
cease to exist, and any Default or 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.14. Undertaking for Costs.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All parties to this Indenture agree, and
each holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require,
in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action
taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of
such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys&rsquo; fees, against
any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant;
but the provisions of this Section&nbsp;shall not apply to any suit instituted by the Trustee, to any suit instituted by any holder,
or group of holders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities of any series, or
to any suit instituted by any holder of any Securities for the enforcement of the payment of the principal of, premium, if any,
or any interest on any Security on or after the respective stated maturities expressed in such Security (or, in the case of redemption,
on or after the redemption date, except, in the case of a partial redemption, with respect to the portion not so redeemed).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;6.15. Waiver of Stay or Extension Laws.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants (to the extent that
it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit
or advantage of, any stay or extension laws wherever enacted, now or at any time hereafter in force, which may affect the covenants
or the performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefits
or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted
to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;7</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONCERNING THE TRUSTEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.01. Duties and Responsibilities of Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Trustee, prior to the occurrence of an Event of Default of a particular series and after the curing of all Events of Default of
such series which may have occurred, undertakes to perform such duties and only such duties with respect to such series as are
specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the
Trustee. In the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements
and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming
to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically
required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they
conform on their face to the requirements of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In
case an Event of Default with respect to a particular series has occurred (which has not been cured), the Trustee shall exercise
with respect to such series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill
in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
provisions of this Indenture shall be construed to relieve the Trustee 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>prior
to the occurrence of an Event of Default with respect to a particular series and after the curing of all Events of Default with
respect to such series which may have occurred, the duties and obligations of the Trustee with respect to such series shall be
determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of
such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read
into this Indenture against the Trustee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT><FONT STYLE="font-size: 10pt">&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 or Officers, 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT><FONT STYLE="font-size: 10pt">&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 or omitted to be taken by it in good faith in accordance with the
direction of the holders of Securities pursuant to Section&nbsp;6.12 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
provision of this Indenture shall be construed as requiring the Trustee to expend or risk its own funds or otherwise to incur any
personal 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 for believing that repayment of such funds or adequate indemnity against such risk or liability
is not reasonably assured to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.02. Reliance on Documents, Opinions,&nbsp;etc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Section&nbsp;7.01:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, consent, order, judgement, bond, debenture, note, coupon or other paper or document believed
by it to be genuine and to have been signed or presented by the proper party or parties not only as the due execution, validity
and effectiveness, but also as to the truth and accuracy of any information contained herein. The Trustee need not investigate
any fact or matter stated in the document;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>any
request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company
Order (unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to
the Trustee by a copy thereof certified by the Secretary or any Assistant Secretary of the Company; and whenever in the administration
of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting
any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on
its part, rely upon an Officers&rsquo; Certificate and/or Opinion of Counsel;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&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 of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance
thereon;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order
or direction of any of the holders of any Securities pursuant to the provisions of this Indenture, unless such holders shall have
offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might
be incurred therein or thereby;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper or documents,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit,
and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records
and premises of the Company, personally or by agent or attorney;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</FONT><FONT STYLE="font-size: 10pt">&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
or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed
with due care by it hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall not be liable for any action taken, suffered or omitted to be taken by it in good faith and believed by it to be
authorized or within the discretion or rights or powers conferred upon it by this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>in
no event will the Trustee be responsible or liable for special, indirect, incidental, punitive 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>in
no event will 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 reasonable control, including, without limitation, strikes, pandemics,
work stoppages, accidents, acts of war or terrorism, civil or military disturbances, sabotage, epidemics, riots, nuclear or natural
catastrophes, earthquakes, fires, floods, or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software or hardware) services, labor disputes, acts of civil or military authorities and governmental actions, or
the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility; it being understood that
the Trustee will use reasonable efforts that 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)</FONT><FONT STYLE="font-size: 10pt">&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 hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</FONT><FONT STYLE="font-size: 10pt">&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; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)</FONT><FONT STYLE="font-size: 10pt">&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 other than for its negligence or willful misconduct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.03. No Responsibility for Recitals,&nbsp;etc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The recitals contained herein and in the
Securities, other than the Trustee&rsquo;s certificate of authentication, shall be taken as the statements of the Company, and
the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity
or sufficiency of this Indenture or of the Securities, provided that the Trustee shall not be relieved of its duty to authenticate
Securities only as authorized by this Indenture. The Trustee shall not be accountable for the use or application by the Company
of Securities or the proceeds thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.04. Ownership of Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee, any authenticating agent, any
paying agent, any Security Registrar or any other agent of the Company or of the Trustee, in its individual or any other capacity,
may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, authenticating agent,
paying agent, Security Registrar or such other agent of the Company or of the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.05. Moneys to be Held in Trust.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Section&nbsp;12.04
hereof, all moneys received by the Trustee or any paying agent shall, until used or applied as herein provided, be held un-invested
in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required
by law. Neither the Trustee nor any paying agent shall be under any liability for interest on any moneys received by it hereunder
except such as it may agree in writing with the Company to pay thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.06. Compensation and Expenses of Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants and agrees to pay
to the Trustee from time to time, and the Trustee shall be entitled to, such compensation for all services rendered by it hereunder
as agreed in writing between the Company and the Trustee (which to the extent permitted by law shall not be limited by any provision
of law in regard to the compensation of a trustee of an express trust), and, except as otherwise expressly provided, the Company
will pay or reimburse the Trustee forthwith upon its request for all reasonable expenses, disbursements and advances incurred or
made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses
and disbursements of its counsel and of all persons not regularly in its employ) except any such expense, disbursement or advance
as may arise from its negligence or willful misconduct. If any property other than cash shall at any time be subject to the lien
of this Indenture, the Trustee, if and to the extent authorized by a receivership or bankruptcy court of competent jurisdiction
or by the supplemental instrument subjecting such property to such lien, shall be entitled to make and to be reimbursed for, advances
for the purpose of preserving such property or of discharging tax liens or other prior liens or encumbrances thereon. The Company
also covenants to indemnify each of the Trustee and any predecessor Trustee for, and to hold it harmless against, any and all loss,
damage, claims, suit, liability or expense, (including attorney&rsquo;s fees and expenses, and taxes (other than taxes based upon,
measured or determined by, the income of the Trustee)) incurred without negligence or willful misconduct on the part of the Trustee,
arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of defending
itself against any claim of liability, whether asserted by the Company, a Holder or any other person. The obligations of the Company
under this Section&nbsp;shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a
lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in
trust for the benefit of the holders of particular Securities. This indemnification shall apply to officers, directors, employees,
shareholders and agents of the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To secure the Company&rsquo;s obligations
under this Section, the Trustee shall have a senior claim to which the Securities are hereby made subordinate on all money or property
held or collected by the Trustee, except that held in trust to pay principal of (and premium, if any) and interest, if any, on
particular Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">When the Trustee incurs expenses or renders
services after an Event of Default, the expenses and the compensation for the services are intended to constitute expenses of administration
under any bankruptcy law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The provisions of this Section&nbsp;shall
survive the resignation or removal of the Trustee and the termination of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.07. Officers&rsquo; Certificate or Opinion
of Counsel as Evidence.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Section&nbsp;7.01,
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 bad faith on the part of the Trustee, be deemed
to be conclusively proved and established by an Officers&rsquo; Certificate or Opinion of Counsel delivered to the Trustee, and
such certificate or opinion, in the absence of negligence or bad faith 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.08. Disqualifications; Conflicting Interest
of Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Trustee has or shall acquire any
 &ldquo;conflicting interest&rdquo; within the meaning of the Trust Indenture Act, the Trustee and the Company shall in all respects
comply with the provisions of Section&nbsp;310(b)&nbsp;of the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.09. Eligibility of Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There shall at all times be a Trustee hereunder
which shall be a corporation organized and doing business under the laws of the United States or of any State or Territory thereof
or of the District of Columbia, which (a)&nbsp;is authorized under such laws to exercise corporate trust powers, (b)&nbsp;is subject
to supervision or examination by federal, state, territorial or District of Columbia authority, (c)&nbsp;shall have at all times
a combined capital and surplus of not less than $50,000,000 and (d)&nbsp;shall not be the Company or any person directly or indirectly
controlling, controlled by, or under common control with the Company. If such corporation publishes reports of condition at least
annually, pursuant to law, or to the requirements of the aforesaid supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such corporation at any time shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified
in Section&nbsp;7.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.10. Resignation or Removal of Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series by giving
written notice of resignation to the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor
trustee with respect to the applicable series by written instrument, in duplicate, executed by order of the Board of Directors,
one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor
trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation,
the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee at the expense
of the Company. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In
case at any time any of the following shall occur:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall fail to comply with Section&nbsp;7.08 with respect to any series of Securities after written request therefor by
the Company or by any securityholder who has been a bona fide holder of a Security or Securities of such series for at least six
months, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall cease to be eligible in accordance with the provisions of Section&nbsp;7.09 with respect to any series of Securities
and shall fail to resign after written request therefor by the Company or by any such securityholder, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent,
or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee
or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, the Company
may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee with respect to such
series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be
delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section&nbsp;6.14,
any securityholder of such series who has been a bona fide holder of a Security or Securities of the applicable series for at least
six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal
of the Trustee and the appointment of a successor trustee with respect to such series. Such court may thereupon, after such notice,
if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Upon
30 days&rsquo; prior written notice, the holders of a majority in aggregate principal amount of the Securities of all series (voting
as one class) at the time Outstanding may at any time remove the Trustee with respect to Securities of all series and appoint a
successor trustee with respect to the Securities of all series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any
resignation or removal of the Trustee and any appointment of a successor trustee pursuant to any of the provisions of this Section&nbsp;shall
become effective upon the appointment of a successor trustee and the acceptance of appointment by the successor trustee as provided
in Section&nbsp;7.11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.11. Acceptance by Successor Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any successor trustee appointed as provided
in Section&nbsp;7.10 shall execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting
such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee with respect to all or any applicable
series shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with
all the rights, powers, duties and obligations with respect to such series of its predecessor hereunder, with like effect as if
originally named as trustee herein; but, nevertheless, on the written request of the Company or of the successor trustee, the predecessor
trustee shall, upon payment of any amounts then due it pursuant to the provisions of Section&nbsp;7.06, execute and deliver an
instrument transferring to such successor trustee all the rights and powers of the predecessor trustee. Upon request of any such
successor trustee, the Company shall execute any and all instruments in writing in order more fully and certainly to vest in and
confirm to such successor trustee all such rights and powers. Any trustee, including the initial Trustee, ceasing to act shall,
nevertheless, retain a lien upon all property or funds held or collected by such trustee to secure any amounts then due it pursuant
to the provisions of Section&nbsp;7.06.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case of the appointment hereunder of
a successor trustee with respect to the Securities of one or more (but not all) series, the Company, the predecessor Trustee and
each successor trustee with respect to the Securities of any applicable series shall execute and deliver an indenture supplemental
hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts
and duties of the predecessor Trustee with respect to the Securities of any series as to which the predecessor Trustee is not retiring
shall continue to be vested in the predecessor Trustee, and shall add to or change any of the provisions of this Indenture as shall
be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, it being understood
that nothing herein or in such supplemental indenture shall constitute such trustees co-trustees of the same trust and that each
such trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered
by any other such trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No successor trustee shall accept appointment
as provided in this Section&nbsp;unless at the time of such acceptance such successor trustee shall be qualified and eligible under
the provisions of this Article&nbsp;7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon acceptance of appointment by a successor
trustee as provided in this Section, the Company shall mail notice of the succession of such trustee hereunder to all holders of
Securities of any applicable series as the names and addresses of such holders shall appear on the registry books. If the Company
fails to mail such notice in the prescribed manner within ten days after the acceptance of appointment by the successor trustee,
the successor trustee shall cause such notice to be so mailed at the expense of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.12. Successor by Merger,&nbsp;etc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any corporation into which the Trustee may
be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation
to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business
of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be qualified and eligible under
the provisions of this Article&nbsp;7, without the execution or filing of any paper or any further act on the part of any of the
parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been authenticated, but not
delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may
adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself
authenticated such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.13. Limitations on Rights of Trustee as Creditor.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee shall comply with Section&nbsp;311(a)&nbsp;of
the Trust Indenture Act, excluding any creditor relationship described in Section&nbsp;311(b)&nbsp;of the Trust Indenture Act.
A Trustee who has resigned or been removed shall be subject to Section&nbsp;311(a)&nbsp;of the Trust Indenture Act to the extent
included therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.14. Notice of Default.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Within 90 days after the occurrence of any
default on a series of Securities hereunder of which a Responsible Officer of the Trustee has received notice or is deemed to have
notice in accordance with this Section&nbsp;7.14, the Trustee shall transmit to all securityholders of that series, in the manner
and to the extent provided in Section&nbsp;15.04, notice of such default hereunder actually known to a Responsible Officer of the
Trustee, unless such default shall have been cured or waived; provided, that except in the case of a default in the payment of
the principal of or interest on any Security or on the payment of any sinking or purchase fund installment, the Trustee shall be
protected in withholding such notice if and so long as a Responsible Officer of the Trustee in good faith determine that the withholding
of such notice is in the interests of the securityholders; and provided, further, that in the case of any default of the character
specified in clause (c)&nbsp;of Section&nbsp;6.01 no such notice to securityholders shall be given until at least 30 days after
the occurrence thereof. The Trustee will not be required to take notice or be deemed to have notice of any default or Event of
Default, except failure by the Company to pay or cause to be made any of the payments required to be made to the Trustee, unless
a Responsible Officer shall receive written notice of such default or Event of Default from the Company or by the holders of at
least 25% in aggregate principal amount of the then Outstanding Securities delivered to the Corporate Trust Office of the Trustee
and such notice states that it is a notice of a default or Event of Default with respect to the Securities and this Indenture,
and in the absence of such notice so delivered the Trustee may conclusively assume no default or Event of Default exists. For the
purpose of this Section, the term &ldquo;default&rdquo; means any event which is, or after notice or lapse of time or both would
become, an Event of Default with respect to Securities of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;7.15. Appointment of Authenticating Agent.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee may appoint an authenticating
agent or agents (which may be an affiliate or affiliates of the Company) with respect to one or more series of Securities which
shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon original issue or upon
exchange, registration of transfer or partial redemption thereof or pursuant to Section&nbsp;2.09, and Securities so authenticated
shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the
Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee
or the Trustee&rsquo;s certificate of authentication, such reference shall be deemed to include authentication and delivery on
behalf of the Trustee by an authenticating agent and a certificate of authentication executed on behalf of the Trustee by an authenticating
agent. Each authenticating agent shall be acceptable to the Company and shall at all times be a corporation organized and doing
business under the laws of the United States of America or of any State or Territory thereof or of the District of Columbia, which
(a)&nbsp;is authorized under such laws to exercise corporate trust powers or to otherwise act as authenticating agent, (b)&nbsp;is
subject to supervision or examination by federal, state, territorial or District of Columbia authority, and (c)&nbsp;shall have
at all times a combined capital and surplus of not less than $50,000,000. If such authenticating agent publishes reports of condition
at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such authenticating agent shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. If at any time an authenticating agent shall cease to be eligible
in accordance with the provisions of this Section, such authenticating agent shall resign immediately in the manner and with the
effect specified in this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any corporation into which an authenticating
agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which such authenticating agent shall be a party, or any corporation succeeding to the corporate agency or
corporate trust business of such authenticating agent, shall continue to be an authenticating agent, provided such corporation
shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of
the Trustee or such authenticating agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">An authenticating agent may resign at any
time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate the agency of an
authenticating agent by giving written notice thereof to such authenticating agent and to the Company. Upon receiving such a notice
of resignation or upon such a termination, or in case at any time such authenticating agent shall cease to be eligible in accordance
with the provisions of this Section, the Trustee may appoint a successor authenticating agent which shall be acceptable to the
Company and shall promptly give notice of such appointment to all holders of Securities in the manner and to the extent provided
in Section&nbsp;15.04. Any successor authenticating agent upon acceptance of its appointment hereunder shall become vested with
all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an authenticating agent.
No successor authenticating agent shall be appointed unless eligible under the provisions of this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company agrees to pay to each authenticating
agent from time to time reasonable compensation for its services under this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If an appointment with respect to one or
more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee&rsquo;s
certificate of authentication, an alternative certificate of authentication in the following form:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[ ],</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as Trustee</P></TD></TR>
<TR>
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%">By:</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 45%">[ ], as Authenticating Agent</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt">&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Authorized Signatory</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date:</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If all of the Securities of a series may
not be originally issued at one time, and the Trustee does not have an office capable of authenticating Securities upon original
issuance located in a Place of Payment where the Company wishes to have Securities of such series authenticated upon original issuance,
the Trustee, if so requested by the Company in writing, shall appoint in accordance with this Section&nbsp;an authenticating agent
(which, if so requested by the Company, shall be such affiliate of the Company) having an office in a Place of Payment designated
by the Company with respect to such series of Securities, provided that the terms and conditions of such appointment are acceptable
to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONCERNING THE SECURITYHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.01. Action by Securityholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Whenever in this Indenture it is provided
that the holders of a specified percentage in aggregate principal amount of the Securities of any or all series may take any action
(including the making of any demand or request, the giving of any authorization, notice, consent or waiver or the taking of any
other action), the fact that at the time of taking any such action the holders of such specified percentage have joined therein
may be evidenced (a)&nbsp;by any instrument or any number of instruments of similar tenor executed by securityholders in person
or by agent or proxy appointed in writing, or (b)&nbsp;by a combination of such instrument or instruments and any such record of
such a meeting of securityholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In determining whether the holders of a
specified percentage in aggregate principal amount of the Securities of any or all series have taken any action (including the
making of any demand or request, the giving of any authorization, direction, notice, consent or waiver or the taking of any other
action), (i)&nbsp;the principal amount of any Original Issue Discount Security that may be counted in making such determination
and that shall be deemed to be outstanding for such purposes shall be equal to the amount of the principal thereof that could be
declared to be due and payable upon an Event of Default pursuant to the terms of such Original Issue Discount Security at the time
the taking of such of such action is evidenced to the Trustee, and (ii)&nbsp;the principal amount of a Security denominated in
a foreign currency or currency unit shall be the Dollar equivalent, determined as of the date of original issuance of such Security
in accordance with Section&nbsp;2.03(b)&nbsp;hereof, of the principal amount of such Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.02. Proof of Execution by Securityholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Section&nbsp;7.01,
Section&nbsp;7.02 and Section&nbsp;9.05, proof of the execution of any instrument by a securityholder or its agent or proxy, or
of the holding by any person of a Security, shall be sufficient and conclusive in favor of the Trustee and the Company if made
in accordance with such reasonable rules&nbsp;and regulations as may be prescribed by the Trustee or in such manner as shall be
satisfactory to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The principal amount and serial numbers
of Registered Securities held by any person, and the date of holding the same, shall be proved by the Security Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The record of any securityholders&rsquo;
meeting shall be proved in the manner provided in Section&nbsp;9.06.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.03. Who Are Deemed Absolute Owners.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">.Prior to due presentment of a Registered
Security for registration of transfer, the Company, the Trustee and any agent of the Company or of the Trustee may deem the person
in whose name such Registered Security shall be registered upon the Security Register to be, and may treat him as, the absolute
owner of such Registered Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership
or other writing thereon), for the purpose of receiving payment of or on account of the principal of (and premium, if any) and,
subject to the provisions of Section&nbsp;2.05 and Section&nbsp;2.07, any interest on such Security and for all other purposes;
and neither the Company nor the Trustee nor any agent of the Company or of the Trustee shall be affected by any notice to the contrary.
All such payments so made to any holder for the time being, or upon his order, shall be valid and, to the extent of the sum or
sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the foregoing, with respect
to any temporary or permanent global Security, nothing herein shall prevent the Company, the Trustee, or any agent of the Company
or of the Trustee, from giving effect to any written certification, proxy or other authorization furnished by a Depositary, or
impair, as between a Depositary and holders of beneficial interests in any temporary or permanent global Security, as the case
may be, the operation of customary practices governing the exercise of the rights of the Depositary as holder of such temporary
or permanent global Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.04. Company-Owned Securities Disregarded.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In determining whether the holders of the
required aggregate principal amount of Securities have provided any request, demand, authorization, notice, direction, consent
or waiver under this Indenture, Securities which are owned by the Company or any other obligor on the Securities, or by any person
directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor
on the Securities, shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that
for the purpose of determining whether the Trustee shall be protected in relying on any such request, demand, authorization, direction,
notice, consent or waiver, only Securities which the Trustee actually knows are so owned shall be so disregarded. Securities so
owned which have been pledged in good faith may be regarded as Outstanding for the purposes of this Section&nbsp;if the pledgee
shall establish to the satisfaction of the Trustee the pledgee&rsquo;s right to vote such Securities and that the pledgee is not
a person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any
such other obligor. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall
be full protection to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.05. Revocation of Consents; Future Securityholders
Bound.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At any time prior to the taking of any action
by the holders of the percentage in aggregate principal amount of the Securities specified in this Indenture in connection with
such action, any holder of a Security, the identifying number of which is shown by the evidence to be included in the Securities
the holders of which have consented to such action, may, by filing written notice with the Trustee at its office and upon proof
of holding as provided in Section&nbsp;8.02, revoke such action so far as concerns such Security. Except as aforesaid any such
action taken by the holder of any Security shall be conclusive and binding upon such holder and upon all future holders and owners
of such Security and of any Security issued upon registration of transfer of or in exchange or substitution therefor in respect
of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, irrespective of whether or
not any notation in regard thereto is made upon such Security. Any action taken by the holders of the percentage in aggregate principal
amount of the Securities specified in this Indenture in connection with such action shall be conclusively binding upon the Company,
the Trustee and the holders of all the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;8.06. Record Date.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company may, but shall not be obligated
to, set a record date for purposes of determining the identity of holders of Securities of any series entitled to vote or consent
to any action by vote or consent or to otherwise take any action under this Indenture authorized or permitted by Section&nbsp;6.12
and Section&nbsp;6.13 or otherwise under this Indenture. Such record date shall be the later of (i)&nbsp;the date 20 days prior
to the first solicitation of such consent or vote or other action and (ii)&nbsp;the date of the most recent list of holders of
such Securities delivered to the principal corporate trust office of the Trustee pursuant to Section&nbsp;5.01 prior to such solicitation.
If such a record date is fixed, those persons who were holders of such Securities at the close of business on such record date
shall be entitled to vote or consent or take such other action, or to revoke any such action, whether or not such persons continue
to be holders after such record date, and for that purpose the Outstanding Securities shall be computed as of such record date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;9</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITYHOLDERS&rsquo; MEETINGS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.01. Purposes of Meeting.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A meeting of holders of any or all series
of Securities may be called at any time and from time to time pursuant to the provisions of this Article&nbsp;for any of the following
purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
give any notice to the Company or to the Trustee, or to give any directions to the Trustee, or to waive any default hereunder and
its consequences, or to take any other action authorized to be taken by securityholders pursuant to any of the provisions of Article&nbsp;6;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
remove the Trustee and appoint a successor trustee pursuant to the provisions of Article&nbsp;7;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of Section&nbsp;10.02; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
take any other action authorized to be taken by or on behalf of the holders of any specified aggregate principal amount of the
Securities of any or all series, as the case may be, under any other provision of this Indenture or under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.02. Call of Meetings by Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee may at any time call a meeting
of securityholders of any or all series to take any action specified in Section&nbsp;9.01, to be held at such time and at such
place in New York, New York or as the Trustee shall determine. Notice of every meeting of the securityholders of any or all series,
setting forth the time and place of such meeting and in general terms the action proposed to be taken at such meeting, shall be
given in the manner provided in Section&nbsp;15.04 not less than 20 nor more than 180 days prior to the date fixed for the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.03. Call of Meetings by Company or Securityholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case at any time the Company, pursuant
to a Board Resolution, or the holders of at least 10% in aggregate principal amount of the Securities of any or all series, as
the case may be, then Outstanding, shall have requested the Trustee to call a meeting of securityholders of any or all series to
take any action authorized in Section&nbsp;9.01, by written request setting forth in reasonable detail the action proposed to be
taken at the meeting, and the Trustee shall not have provided notice of such meeting in the manner provided in Section&nbsp;15.04
within 30 days after receipt of such request, then the Company or the holders of such Securities in the amount above specified
may determine the time and the place in New York, New York for such meeting and may call such meeting
by giving notice thereof as provided in Section&nbsp;9.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.04. Qualifications for Voting.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To be entitled to vote at any meeting of
securityholders a person shall be a holder of one or more Securities of such series Outstanding with respect to which a meeting
is being held or a person appointed by an instrument in writing as proxy by such a holder or holders. The only persons who shall
be entitled to be present or to speak at any meeting of the securityholders of any series shall be the persons entitled to vote
at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company
and its counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.05. Regulations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding any other provisions of
this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of securityholders of
a series, in regard to proof of the holding of Securities and of the appointment of proxies, and in regard to the appointment and
duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote,
and such other matters concerning the conduct of the meeting as it deems fit. Except as otherwise permitted or required by any
such regulations, the holding of Securities shall be proved in the manner specified in Article&nbsp;8 and the appointment of any
proxy shall be proved in the manner specified in Article&nbsp;8. Such regulations may provide that written instruments appointing
proxies, regular on their face, may be presumed valid and genuine without the proof specified in Article&nbsp;8 or other proof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee shall, by an instrument in writing,
appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by securityholders as
provided in Section&nbsp;9.03, in which case the Company or the securityholders calling the meeting, as the case may be, shall
in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by
vote of the holders of a majority in principal amount of the Securities represented at the meeting and entitled to vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of Section&nbsp;8.01
and Section&nbsp;8.04, at any meeting each securityholder or proxy shall be entitled to one vote for each $1,000 (or the Dollar
equivalent thereof in connection with Securities issued in a foreign currency or currency unit) Outstanding principal amount of
Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in
respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman
of the meeting shall have no right to vote except as a securityholder or proxy. Any meeting of securityholders duly called pursuant
to the provisions of Section&nbsp;9.02 or Section&nbsp;9.03 may be adjourned from time to time, and the meeting may be reconvened
without further notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;9.06. Voting.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The vote upon any resolution submitted to
any meeting of securityholders shall be by written ballot on which shall be subscribed the signatures of the securityholders or
proxies and on which shall be inscribed the identifying number or numbers or to which shall be attached a list of identifying numbers
of the Securities held or represented by them. The chairman of the meeting shall appoint two inspectors of votes who shall count
all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their
verified written reports in duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting
of securityholders shall be prepared by the secretary of the meeting and there shall be attached to the record the original reports
of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts
setting forth a copy of the notice of the meeting and showing that the notice was mailed as provided in Section&nbsp;9.02. The
record shall be signed and verified by the chairman and secretary of the meeting and one of the duplicates shall be delivered to
the Company and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted
at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any record so signed and verified shall
be conclusive evidence of the matters therein stated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;10</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUPPLEMENTAL INDENTURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;10.01. Supplemental Indentures without Consent
of Securityholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Without the consent of any holders of Securities,
the Company, when authorized by or pursuant to Board Resolution, and the Trustee may from time to time and at any time enter into
an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as in force at
the date of the execution thereof) for one or more of the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
evidence the succession of another corporation to the Company, or successive successions, pursuant to Article&nbsp;11 hereof, and
the assumption by the successor corporation of the covenants, agreements and obligations of the Company herein and in the Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
add to the covenants of the Company such further covenants, restrictions, conditions or provisions as its Board of Directors shall
consider to be for the protection of the holders of Securities, and to make the occurrence, or the occurrence and continuance,
of a default in any of such additional covenants, restrictions, conditions or provisions an Event of Default permitting the enforcement
of all or any of the several remedies provided in this Indenture as herein set forth, with such period of grace, if any, and subject
to such conditions as such supplemental indenture may provide;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
establish any series of Securities and the form or terms of securities of any series as permitted by Section&nbsp;2.01 and Section&nbsp;2.03,
including, without limitation, any subordination provisions and any conversion or exchange provisions applicable to Securities
that are convertible into or exchangeable for other securities or property, and any deletions from or additions or changes to this
Indenture in connection therewith (provided that any such deletions, additions and changes shall not be applicable to any other
series of Securities then Outstanding);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
add any additional Events of Default with respect to all or any series of Securities (as shall be specified in such supplemental
indenture);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance,
covenant defeasance and/or satisfaction and discharge of any series of Securities pursuant to Article&nbsp;14, provided that any
such action shall not adversely affect the interests of any holder of a Security of such series or any other Security in any material
respect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance
of Securities, registrable or not registrable as to principal;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
make provisions with respect to conversion or exchange rights of holders of Securities of any series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>in
the case of any series of Securities which are convertible into or exchangeable for commodities or for the securities of the Company
to safeguard or provide for the conversion or exchange rights, as the case may be, of such Securities in the event of any reclassification
or change of outstanding securities or any merger, consolidation, statutory share exchange or combination of the Company with or
into another Person or any sale, lease, assignment, transfer, disposition or other conveyance of all or substantially all of the
properties and assets of the Company to any other Person or other similar transactions, if expressly required by the terms of such
series of Securities established pursuant to Section&nbsp;2.03;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
add to, delete from or revise the conditions, limitations or restrictions on issue, authentication and delivery of Securities of
any series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(j)&nbsp;to modify, eliminate or add to
the provisions of this Indenture to such extent as shall be necessary to effect the qualification of this Indenture under the Trust
Indenture Act, or under any similar federal statute hereafter enacted, and to add to this Indenture such other provisions as may
be expressly permitted by the Trust Indenture Act, excluding however, the provisions referred to in Section&nbsp;316(a)(2)&nbsp;of
the Trust Indenture Act or any corresponding provision in any similar federal statute hereafter enacted;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
modify, eliminate or add to any of the provisions of this Indenture, provided that any such change or elimination (i)&nbsp;shall
become effective only when there is no Security of any series Outstanding and created prior to the execution of such supplemental
indenture that is entitled to the benefit of such provision or (ii)&nbsp;shall not apply to any Security Outstanding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
conform the Indenture or the Securities to the description thereof in the related prospectus, offering memorandum or disclosure
document (as provided in an Officers&rsquo; Certificate delivered to the Trustee);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
cure any ambiguity or to correct or supplement any provision contained herein or in any supplemental indenture which may be defective
or inconsistent with any other provisions contained herein or in any supplemental indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
add guarantees with respect to, or to secure, any series of Security;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
evidence and provide for the acceptance and appointment hereunder by a successor trustee with respect to the Securities of one
or more series and to add or change any provisions of this Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one trustee, pursuant to Section&nbsp;7.11; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to
make any change to the Securities of any series or to make any other provisions in regard to matters or questions arising under
this Indenture that do not adversely affect the legal rights under this Indenture of any holder of Securities of any series issued
under this Indenture, including provisions necessary or desirable to provide for or facilitate the administration of the trusts
hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee is hereby authorized to join
with the Company in the execution of any such supplemental indenture, to make any further appropriate agreements and stipulations
which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder,
but the Trustee shall not be obligated to enter into any such supplemental indenture which adversely affects the Trustee&rsquo;s
own rights, duties or immunities under this Indenture or otherwise. No supplemental indenture shall be effective as against the
Trustee unless and until the Trustee has duly executed and delivered the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;10.02. Supplemental Indentures with Consent
of Holders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">With the consent (evidenced as provided
in Section&nbsp;8.01) of the holders of not less than a majority in aggregate principal amount of the Securities of all series
at the time Outstanding affected by such supplemental indenture (voting as one class), the Company, when authorized by a Board
Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which
shall conform to the provisions of the Trust Indenture Act as in force at the date of the execution thereof) for the purpose of
adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental
indenture or of modifying in any manner the rights of the holders of the Securities of such series under this Indenture; provided,
that no such supplemental indenture shall (a)&nbsp;extend the fixed maturity of any Securities, or reduce the principal amount
thereof or premium, if any, or reduce the rate or extend the time of payment of interest thereon, without the consent of the holder
of each Security so affected, (b)&nbsp;reduce the aforesaid percentage of Securities, the consent of the holders of which is required
for any such supplemental indenture, without the consent of the holders of all Securities then Outstanding, (c)&nbsp;modify the
subordination provisions in a manner adverse to the holders of such Securities, or (d)&nbsp;modify any of the above provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the request of the Company, accompanied
by a copy of a Board Resolution certified by the Secretary or an Assistant Secretary of the Company authorizing the execution of
any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of securityholders as aforesaid,
the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture 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 supplemental indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">It shall not be necessary for the consent
of the securityholders under this Section&nbsp;to approve the particular form of any proposed supplemental indenture, but it shall
be sufficient if such consent shall approve the substance thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Promptly after the execution by the Company
and the Trustee of any supplemental indenture pursuant to the provisions of this Article&nbsp;10, the Company shall provide notice,
in the manner and to the extent provided in Section&nbsp;15.04, setting forth in general terms the substance of such supplemental
indenture, to all holders of Securities of each series so affected. Any failure of the Company so to provide such notice, or any
defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;10.03. Compliance with Trust Indenture Act;
Effect of Supplemental Indentures.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any supplemental indenture executed pursuant
to the provisions of this Article&nbsp;10 shall comply with the Trust Indenture Act, as then in effect. Upon the execution of any
supplemental indenture pursuant to the provisions of this Article&nbsp;10 and subject to the provisions in any supplemental indenture
relating to the prospective application of such instrument, this Indenture shall be and be deemed to be modified and amended in
accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture
of the Trustee, the Company and the holders of Securities theretofore or thereafter authenticated and delivered hereunder shall
thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all
the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this
Indenture for any and all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee, subject to the provisions of
Section&nbsp;7.01 and Section&nbsp;7.02, shall be entitled to receive and shall be fully protected in relying upon an Officers&rsquo;
Certificate and Opinion of Counsel as conclusive evidence that any such supplemental indenture complies with the provisions of
this Article&nbsp;10 and that all conditions precedent thereto have been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;10.04. Notation on Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Securities of any series authenticated and
delivered after the execution of any supplemental indenture pursuant to the provisions of this Article&nbsp;10 may bear a notation
in form approved by the Company as to any matter provided for in such supplemental indenture. New Securities of any series so modified
as to conform, in the opinion of the Company and the Board of Directors, to any modification of this Indenture contained in any
such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered, without charge to the securityholders,
in exchange for the Securities of such series then Outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;11</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATION, MERGER, SALE OR CONVEYANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;11.01. Company May&nbsp;Consolidate,&nbsp;etc.,
on Certain Terms.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company covenants that it will not merge
into or consolidate with any other corporation or sell or convey all or substantially all of its assets to any person, firm or
corporation, unless (a)&nbsp;either the Company shall be the continuing corporation, or the successor corporation (if other than
the Company) shall be a corporation organized and existing under the laws of the United States of America or a state thereof or
the District of Columbia and such corporation shall expressly assume the due and punctual payment of the principal of (and premium,
if any, on) and any interest on all the Securities, according to their tenor, and the due and punctual performance and observance
of all of the covenants and conditions of this Indenture to be performed by the Company by supplemental indenture in form satisfactory
to the Trustee, executed and delivered to the Trustee by such corporation, and (b)&nbsp;the Company or such successor corporation,
as the case may be, shall not, immediately after such merger or consolidation, or such sale or conveyance, be in default in the
performance of any such covenant or condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;11.02. Successor Corporation Substituted.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case of any such consolidation, merger,
sale or conveyance and upon any such assumption by the successor corporation, such successor corporation shall succeed to and be
substituted for, and may exercise every right and power of, the Company, with the same effect as if it had been named herein as
the party of the first part. Such successor corporation thereupon may cause to be signed, and may issue either in its own name
or in the name of the Company, any or all of the Securities issuable hereunder which theretofore shall not have been signed by
the Company and delivered to the Trustee; and, upon the order of such successor corporation, instead of the Company, and subject
to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall make available
for delivery any Securities which previously shall have been signed and delivered by the officers of the Company to the Trustee
for authentication, and any Securities which such successor corporation thereafter shall cause to be signed and delivered to the
Trustee for that purpose. All of the Securities so issued shall in all respects have the same legal rank and benefit under this
Indenture as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such
Securities had been issued at the date of the execution thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case of any such consolidation, merger,
sale or conveyance such changes in phraseology and form (but not in substance) may be made in the Securities thereafter to be issued
as may be appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;11.03. Opinion of Counsel and Officers&rsquo;
Certificate to be Given Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee shall receive an Opinion of
Counsel and Officers&rsquo; Certificate as conclusive evidence that any such consolidation, merger, sale or conveyance, and any
such assumption, complies with the provisions of this Article&nbsp;11 and that all conditions precedent herein provided for relating
to such transaction have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;12</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SATISFACTION AND DISCHARGE OF INDENTURE;
UNCLAIMED MONEYS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;12.01. Discharge of Indenture.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If at any time:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Company shall have delivered to the Trustee for cancellation all Securities of any series theretofore authenticated (other than
(i)&nbsp;Securities that have been destroyed, lost or stolen and that have been replaced or paid as provided in Section&nbsp;2.09,
and (ii)&nbsp;Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the
Company and thereafter repaid to the Company or discharged from such trust, as provided in Section&nbsp;4.03), or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>all
such Securities of such series not theretofore delivered to the Trustee for cancellation (i)&nbsp;shall have become due and payable,
or (ii)&nbsp;are by their terms to become due and payable within one year, or (iii)&nbsp;are to be called for redemption within
one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company in the case of
(b)(i), (b)(ii)&nbsp;or (b)(iii)&nbsp;above shall deposit or cause to be deposited with the Trustee as trust funds the entire amount
(other than moneys repaid by the Trustee or any paying agent to the Company in accordance with Section&nbsp;12.04) sufficient to
pay at maturity or upon redemption all Securities of such series not therefore delivered to the Trustee for cancellation, including
principal (and premium, if any) and any interest due or to become due to such date of maturity or date fixed for redemption, as
the case may be, and if in either case the Company shall also pay or cause to be paid all other sums payable hereunder by the Company
with respect to such series, then this Indenture shall cease to be of further effect with respect to the Securities of such series,
and the Trustee, on demand of and at the cost and expense of the Company and subject to Section&nbsp;15.05, shall execute proper
instruments acknowledging satisfaction of and discharging this Indenture with respect to the Securities of such series. The Company
agrees to reimburse the Trustee for any costs or expenses thereafter reasonably and properly incurred by the Trustee in connection
with this Indenture or the Securities of such series. Notwithstanding the satisfaction and discharge of this Indenture with respect
to the Securities of any series or of all series, the obligations of the Company to the Trustee under Section&nbsp;7.06 shall survive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will deliver to the Trustee
an Officers&rsquo; Certificate and an Opinion of Counsel which together shall state that all conditions precedent herein provided
for relating to the satisfaction and discharge of this Indenture have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;12.02. Deposited Moneys to be Held in Trust
by Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of clause (e)&nbsp;of
Section&nbsp;4.03, all moneys deposited with the Trustee pursuant to Section&nbsp;12.01 shall be held in trust and applied by it
to the payment, either directly or through any paying agent (including the Company acting as its own paying agent), to the persons
entitled thereto, of all sums due and to become due thereon for principal and interest (and premium, if any) for which payment
of such money has been deposited with the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;12.03. Paying Agent to Repay Moneys Held.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with the satisfaction and
discharge of this Indenture with respect to Securities of any series and the payment of all amounts due to the Trustee under Section&nbsp;7.06,
all moneys with respect to such Securities then held by any paying agent under the provisions of this Indenture shall, upon demand
of the Company, be repaid to it or paid to the Trustee and thereupon such paying agent shall be released from all further liability
with respect to such moneys.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;12.04. Return of Unclaimed Moneys.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to applicable law, any moneys deposited
with or paid to the Trustee or any paying agent for the payment of the principal of (and premium, if any) or interest on any Security
and not applied but remaining unclaimed for two years after the date upon which such principal (and premium, if any, on) or interest
shall have become due and payable, shall be repaid to the Company by the Trustee or such paying agent upon written request from
the Company, and the holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for any
payment which such holder may be entitled to collect and all liability of the Trustee or any paying agent with respect to such
moneys shall thereupon cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;13</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMMUNITY OF INCORPORATORS, STOCKHOLDERS,
OFFICERS AND DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;13.01. Indenture and Securities Solely Corporate
Obligations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No recourse under or upon any obligation,
covenant or agreement contained in this Indenture, or in any Security, or because of any indebtedness evidenced thereby, shall
be had against any incorporator, or against any past, present or future stockholder, officer or director, as such, of the Company
or of any successor corporation, either directly or through the Company or any successor corporation, under any rule&nbsp;of law,
statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise,
all such liability being expressly waived and released by the acceptance of the Securities by the holders thereof and as part of
the consideration for the issue of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;14</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEFEASANCE AND COVENANT DEFEASANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;14.01. Applicability of Article.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless, as specified pursuant to Section&nbsp;2.03(b),
provision is made that either or both of (a)&nbsp;defeasance of the Securities of a series under Section&nbsp;14.02 and (b)&nbsp;covenant
defeasance of the Securities of a series under Section&nbsp;14.03 shall not apply to the Securities of a series, then the provisions
of such Section&nbsp;14.02 and Section&nbsp;14.03, together with Section&nbsp;14.04 and Section&nbsp;14.05, shall be applicable
to the Outstanding Securities of all series upon compliance with the conditions set forth below in this Article&nbsp;14.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;14.02. Defeasance and Discharge.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to Section&nbsp;14.05, the Company
may cause itself to be discharged from its obligations with respect to the Outstanding Securities of any series on and after the
date the conditions precedent set forth below are satisfied but subject to satisfaction of the conditions subsequent set forth
below (hereinafter, &ldquo;defeasance&rdquo;). For this purpose, such defeasance means that the Company shall be deemed to have
paid and discharged the entire indebtedness represented by the Outstanding Securities of such series and to have satisfied all
its other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive
until otherwise terminated or discharged hereunder: (a)&nbsp;the rights of holders of Outstanding Securities of such series to
receive, solely from the trust fund described in Section&nbsp;14.04 and as more fully set forth in such Section, payments of the
principal of and any premium and interest on such Securities when such payments are due, (b)&nbsp;the Company&rsquo;s obligations
with respect to such Securities under Section&nbsp;2.07, Section&nbsp;2.08, Section&nbsp;2.09, Section&nbsp;4.02 and Section&nbsp;4.03
and such obligations as shall be ancillary thereto, (c)&nbsp;the rights, powers, trusts, duties, immunities and other provisions
in respect of the Trustee hereunder, and (D)&nbsp;this Article&nbsp;14. Subject to compliance with this Article&nbsp;14, defeasance
with respect to Securities of a series by the Company is permitted under this Section&nbsp;14.02 notwithstanding the prior exercise
of its rights under Section&nbsp;14.03 with respect to the Securities of such series. Following a defeasance, payment of the Securities
of such series may not be accelerated because of an Event of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;14.03. Covenant Defeasance.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company may cause itself to be released
from its obligations under any Sections applicable to Securities of a series that are determined pursuant to Section&nbsp;2.03(b)&nbsp;to
be subject to this provision with respect to the Outstanding Securities of such series on and after the date the conditions precedent
set forth below are satisfied but subject to satisfaction of the conditions subsequent set forth below (hereinafter, &ldquo;covenant
defeasance&rdquo;). For this purpose, such covenant defeasance means that, with respect to the Outstanding Securities of such series,
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 Section, whether directly or indirectly by reason of any reference elsewhere herein to any such Section&nbsp;or by reason
of any reference in any such Section&nbsp;to any other provision herein or in any other document, but the remainder of this Indenture
and such Securities shall be unaffected thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;14.04. Conditions to Defeasance or Covenant
Defeasance.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following shall be the conditions precedent
or, as specifically noted below, subsequent to application of either Section&nbsp;14.02 or Section&nbsp;14.03 to the Outstanding
Securities of such series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Company shall irrevocably have deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose of
making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the holders of such
Securities, (i)&nbsp;money in an amount, or (ii)&nbsp;U.S. Government Obligations which through the scheduled payment of principal
and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any
payment, money in an amount, or (iii)&nbsp;a combination thereof, sufficient, without reinvestment, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay
and discharge, and which shall be applied by the Trustee to pay and discharge, (1)&nbsp;the principal of and any premium and interest
on the Outstanding Securities of such series to maturity or redemption, as the case may be, and (2)&nbsp;any mandatory sinking
fund payments or analogous payments applicable to the Outstanding Securities of such series on the due dates thereof. Before such
a deposit the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date or dates
in accordance with Article&nbsp;3 which shall be given effect in applying the foregoing. For this purpose, &ldquo;U.S. Government
Obligations&rdquo; means securities that are (x)&nbsp;direct obligations of the United States of America for the payment of which
its full faith and credit is pledged or (y)&nbsp;obligations of a person controlled or supervised by and acting as an agency or
instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation
by the United States of America, which, in either case, are not callable or redeemable at the option of the issuer thereof, and
shall also include a depository receipt issued by a bank (as defined in Section&nbsp;3(a)(2)&nbsp;of the Securities Act) as custodian
with respect to any such U.S. Government Obligation or a specific payment of principal of or interest on any such U.S. Government
Obligation held by such custodian for the account of the holder of such depository receipt, provided that (except as required by
law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from
any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal of or interest
on the U.S. Government Obligation evidenced by such depository receipt;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
default, or event that after notice or lapse of time, or both, would become a default with respect to the Securities of such series,
shall have happened and be continuing (i)&nbsp;on the date of such deposit or (ii)&nbsp;insofar as Section&nbsp;6.01(a)&nbsp;and
Section&nbsp;6.01(b)&nbsp;are concerned, at any time during the period ending on the 123rd day after the date of such deposit or,
if longer, ending on the day following the expiration of the longest preference period applicable to the Company in respect of
such deposit (it being understood that the condition in this clause (b)&nbsp;is a condition subsequent and shall not be deemed
satisfied until the expiration of such period);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Such
defeasance or covenant defeasance shall not (i)&nbsp;cause the Trustee for the Securities of such series to have a conflicting
interest as defined in Section&nbsp;7.08 or for purposes of the Trust Indenture Act with respect to any securities of the Company
or (ii)&nbsp;result in the trust arising from such deposit to constitute, unless it is qualified as, a regulated investment company
under the Investment Company Act of 1940, as amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Such
defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default under, this Indenture or
any other agreement or instrument to which the Company is a party or by which it is bound;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Such
defeasance or covenant defeasance shall not cause any Securities of such series then listed on any registered national securities
exchange under the Exchange Act to be delisted;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In
the case of a defeasance under Section&nbsp;14.02, the Company shall have delivered to the Trustee an Opinion of Counsel stating
that (x)&nbsp;the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (y)&nbsp;since
the date of this Indenture there has been a change in the applicable federal income tax law, in either case to the effect that,
and based thereon such opinion shall confirm that, the holders of the Outstanding Securities of such series will not recognize
income, gain or loss for federal income tax purposes as a result of such defeasance and will be subject to federal income tax on
the same amounts, in the same manner and at the same times as would have been the case if such defeasance had not occurred;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In
the case of covenant defeasance under Section&nbsp;14.03, the Company shall have delivered to the Trustee an Opinion of Counsel
to the effect that the holders of the Outstanding Securities of such series will not recognize income, gain or loss for federal
income tax purposes as a result of such covenant defeasance and will be subject to 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Such
defeasance or covenant defeasance shall be effected in compliance with any additional terms, conditions or limitations which may
be imposed on the Company in connection therewith pursuant to Section&nbsp;2.03(b); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT><FONT STYLE="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 Officers&rsquo; Certificate and an Opinion of Counsel, each stating that all conditions
precedent and subsequent provided for in this Indenture relating to either the defeasance under Section&nbsp;14.02 or the covenant
defeasance under Section&nbsp;14.03, as the case may be, have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;14.05. Deposited Money and U.S. Government Obligations
to be Held in Trust; Other Miscellaneous Provisions.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All money and U.S. Government Obligations
(including the proceeds thereof) deposited with the Trustee pursuant to Section&nbsp;14.04 in respect of the Outstanding Securities
of such series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this
Indenture, to the payment, either directly or through any paying agent (but not including the Company acting as its own paying
agent) as the Trustee may determine, to the holders of such Securities of all sums due and to become due thereon in respect of
principal and any premium and interest, 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall pay and indemnify the
Trustee against any tax, fee or other charge imposed on or assessed against the money or U.S. Government Obligations deposited
pursuant to Section&nbsp;14.04 or the principal and interest received in respect thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Anything herein to the contrary notwithstanding,
the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or U.S. Government Obligations
held by it as provided in Section&nbsp;14.04 which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be
required to be deposited to effect an equivalent defeasance or covenant defeasance, provided that the Trustee shall not be required
to liquidate any U.S. Government Obligations in order to comply with the provisions of this paragraph.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Anything herein to the contrary notwithstanding,
if and to the extent the deposited money or U.S. Government Obligations (or the proceeds thereof) either (i)&nbsp;cannot be applied
by the Trustee in accordance with this Section&nbsp;because of a court order or by operation of Article&nbsp;16 or (ii)&nbsp;are
for any reason insufficient in amount, then the Company&rsquo;s obligations to pay principal of and any premium and interest on
the Securities of such series shall be reinstated to the extent necessary to cover the deficiency on any due date for payment.
In any such case, the Company&rsquo;s interest in the deposited money and U.S. Government Obligations (and proceeds thereof) shall
be reinstated to the extent the Company&rsquo;s payment obligations are reinstated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;15</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MISCELLANEOUS PROVISIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.01. Benefits of Indenture Restricted to Parties
and Securityholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Nothing in this Indenture or in the Securities,
expressed or implied, shall give or be construed to give to any person, firm or corporation, other than the parties hereto and
their successors and assigns and the holders of the Securities (and, with respect to the provisions of Article&nbsp;16, the holders
of Senior Indebtedness), any legal or equitable right, remedy or claim under this Indenture or under any covenant or provision
herein contained, all such covenants and provisions being for the sole benefit of the parties hereto and their successors and assigns
and the holders of the Securities (and, with respect to the provisions of Article&nbsp;16, the holders of Senior Indebtedness).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.02. Provisions Binding on Company&rsquo;s
Successors.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All the covenants, stipulations, promises
and agreements in this Indenture contained by or in behalf of the Company shall bind its successors and assigns, whether so expressed
or not.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.03. Addresses for Notices,&nbsp;etc., to
Company and Trustee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any request, demand, authorization, direction,
notice, consent, waiver or other document provided or permitted by this Indenture is duly given if in writing and delivered in
person or delivered by first-class postage prepaid mail, facsimile, email or overnight air courier guaranteeing next day delivery,
to the other&rsquo;s address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If
to the Trustee, addressed to the Trustee at the principal Corporate Trust Office of the Trustee, [ ], Attention: Metropolitan Bank
Holding Corp. Administrator, Telephone: [ ].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If
to the Company by the Trustee or by the holders of Securities, addressed to it at 99 Park Avenue,&nbsp;New York,&nbsp;New York
10016, Attention: [ ], Email: [ ].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company or the Trustee by written notice
to the other may designate additional or different addresses for subsequent notices or communications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All notices and communications will be deemed
to have been duly given: five Business Days after being deposited in the mail, postage prepaid, if delivered by mail; on the first
Business Day after being sent, if sent by facsimile and the sender receives confirmation of successful transmission; upon confirmation
of transmittal (but excluding any automatic reply to such email), if sent by email; and the next Business Day after timely delivery
to the courier, if sent by overnight air courier guaranteeing next day delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.04. Notice to Holders of Securities; Waiver.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as otherwise expressly provided herein,
where this Indenture provides for notice of holders of Securities of any event, such notice shall be sufficiently given to holders
of Registered Securities if in writing and mailed, first-class postage prepaid, to each holder of a Registered Security affected
by such event, at the address of such holder as it appears in the Security Register, not earlier than the earliest date, and not
later than the latest date, prescribed for the giving of such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case by reason of the suspension of regular
mail service or by reason of any other cause it shall be impracticable to give such notice to holders of Registered Securities
by mail, then such notification as shall be made with the approval of the Trustee shall constitute sufficient notice to such holders
for every purpose hereunder. In any case where notice to holders of Registered Securities is given by mail, neither the failure
to mail such notice, nor any defect in any notice so mailed, to any particular holder of a Registered Security shall affect the
sufficiency of such notice with respect to other holders of Registered Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding any other provision of this
Indenture or any Security, where this Indenture or any Security provides for notice of any event (including any notice of redemption)
to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given when delivered to the
Depositary for such Security (or its designee) pursuant to the customary procedures of such Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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 of Securities 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any request, demand, authorization, direction,
notice, consent or waiver required or permitted under this Indenture shall be in the English language.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.05. Evidence of Compliance with Conditions
Precedent.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon any application or demand by the Company
to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officers&rsquo;
Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have
been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any,
have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents
is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate
or opinion need be furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Officers&rsquo; Certificate and Opinion
of Counsel provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant
provided for in this Indenture shall include (a)&nbsp;a statement that the person making such certificate or opinion has read such
covenant or condition; (b)&nbsp;a brief statement as to the nature and scope of the examination or investigation upon which the
statements or opinions contained in such certificate or opinion are based; (c)&nbsp;a statement that, in the opinion of such person,
he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not
such covenant or condition has been complied with; and (d)&nbsp;a statement as to whether or not, in the opinion of such person,
such condition or covenant has been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.06. Legal Holidays.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In any case where the date of maturity of
interest on or principal of the Securities or the date fixed for redemption of any Securities shall be a Saturday or Sunday or
a legal holiday in City of New York, New York or in such other Place of Payment as the Company may designate pursuant to Section&nbsp;4.02,
or a day on which banking institutions in City of New York, New York or in such other Place of Payment are authorized or obligated
by law, regulation or executive order to remain closed, then payment of interest or principal (and premium, if any) 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 date of
maturity or the date fixed for redemption, and no interest shall accrue for the period after such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.07. Trust Indenture Act to Control.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If and to the extent that any provision
of this Indenture limits, qualifies or conflicts with another provision included in this Indenture which is required to be included
in this Indenture by any of Sections 310 to 317, inclusive, of the Trust Indenture Act, such required provision shall control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.08. Execution in Counterparts.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Indenture may be executed in any number
of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument.
The exchange of copies of this Indenture and of signature pages&nbsp;by facsimile or electronic format (<I>e.g</I>., &ldquo;.pdf&rdquo;
or &ldquo;.tif&rdquo;) transmission will 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
electronic format (e.g., &ldquo;.pdf&rdquo; or &ldquo;.tif&rdquo;) will be deemed to be their original signatures for all purposes.
Unless otherwise provided herein or in any other Securities, the words &ldquo;execute&rdquo;, &ldquo;execution&rdquo;, &ldquo;signed&rdquo;,
and &ldquo;signature&rdquo; and words of similar import used in or related to any document to be signed in connection with this
Indenture, any other Securities or any of the transactions contemplated hereby (including amendments, waivers, consents and other
modifications) shall be deemed to include electronic signatures and the keeping of records in electronic form, each of which shall
be of the same legal effect, validity or enforceability as a manually executed signature in ink or the use of a paper-based recordkeeping
system, as applicable, to the fullest extent and as provided for in any Applicable Law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, and any other similar state laws
based on the Uniform Electronic Transactions Act, provided that, notwithstanding anything herein to the contrary, the Trustee is
not under any obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by such
Trustee pursuant to procedures approved by such Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.09. Governing Law; Waiver of Jury Trial.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIS INDENTURE AND EACH SECURITY SHALL BE
DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE
EXTENT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF
THE NEW YORK GENERAL OBLIGATIONS LAW). EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE
SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The parties hereby (i)&nbsp;irrevocably
submit to the non-exclusive jurisdiction of any federal or state court sitting in the Borough of Manhattan, the city of New York,
(ii)&nbsp;waive any objection to laying of venue in any such action or proceeding in such courts, and (iii)&nbsp;waive any objection
that such courts are an inconvenient forum or do not have jurisdiction over any party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.10. Severability.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In case any provision in this Indenture
or in the Securities 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Trustee, by its execution of this Indenture,
hereby accepts the trusts in this Indenture declared and provided, upon the terms and conditions hereinabove set forth. This Indenture,
any supplemental indenture hereto and the exhibits hereto or thereto set forth the entire agreement and understanding of the parties
related to this transaction and supersedes all prior agreements and understandings, oral or written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.11. Interpretations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Indenture may not be used to interpret
any other indenture, loan or debt agreement of the Company or its 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;15.12. U.S.A. Patriot Act.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The parties hereto acknowledge that in accordance
with Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
Act of 2001 (the &ldquo;USA PATRIOT Act&rdquo;), the Trustee, like all financial institutions and in order to help fight the funding
of terrorism and money laundering, 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 will provide
the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the USA PATRIOT Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUBORDINATION OF SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION&nbsp;16.01. Securities Subordinate to Senior Indebtedness.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as otherwise provided in a supplemental
indenture or pursuant to Section&nbsp;2.03, the Company agrees, and each holder by accepting a Security agrees, that the indebtedness
evidenced by the Securities is subordinated in right of payment, to the extent and in the manner provided in this Article, to the
prior payment in full of all Senior Indebtedness and that the subordination is for the benefit of the holders of Senior Indebtedness.
Notwithstanding theforegoing, if a deposit is made pursuant to Section&nbsp;14.02 or Section&nbsp;14.03 with respect to any Securities
(and provided all other conditions set out in Section&nbsp;14.02 or 14.03, as applicable, shall have been satisfied with respect
to such Securities), then, when the 90th day after such deposit has ended, no money obligations so deposited, and no proceeds thereon,
will be subject to any rights of holders of Senior Indebtedness, including any such rights arising under this Article&nbsp;16.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties hereto have
caused this Indenture to be duly executed, all as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt"><B>METROPOLITAN BANK HOLDING CORP.</B></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt; width: 40%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 17%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="background-color: white">Mark R. DeFazio</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-size: 10pt">President and Chief Executive Officer</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt"><B>[ ], as Trustee</B></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt">[ ]</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt">[Vice President]</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TYPE>EX-5.1
<SEQUENCE>4
<FILENAME>tm2131062d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit 5.1</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LUSE GORMAN, PC</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ATTORNEYS AT LAW</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">5335 WISCONSIN AVENUE,
N.W., SUITE 780</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">WASHINGTON, D.C.
20015</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 1.5in"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">TELEPHONE (202) 274-2000</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">FACSIMILE (202) 362-2902</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>www.luselaw.com</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 27, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Metropolitan Bank Holding Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">99 Park Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York,&nbsp;New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD>Registration Statement on Form&nbsp;S-3</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</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: 30.05pt">We refer to the Registration Statement on Form
S-3 (the &ldquo;Registration Statement&rdquo;) of Metropolitan Bank Holding Corp. (the &ldquo;Company&rdquo;), a New York corporation,
relating to the Company&rsquo;s (1) common stock, $0.01 par value per share (the &ldquo;Common Stock&rdquo;), (2) preferred stock, $0.01
par value per share (the &ldquo;Preferred Stock&rdquo;), (3) debt securities (the &ldquo;Debt Securities&rdquo;), (4) depositary shares
(the &ldquo;Depositary Shares&rdquo;), (5) warrants (the &ldquo;Warrants&rdquo;), and (6) subscription rights (&ldquo;Subscription Rights&rdquo;),
each of which may be issued on a delayed or continuous basis from time to time pursuant to Rule 415 under the Securities Act of 1933,
as amended (the &ldquo;Act&rdquo;). The Common Stock, Preferred Stock, Debt Securities, Depositary Shares, Warrants, and Subscription
Rights are sometimes each referred to herein as a &ldquo;Security&rdquo; and collectively as the &ldquo;Securities.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">This opinion is being furnished in connection
with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining
to the contents of the Registration Statement or related prospectus, other than as expressly stated herein with respect to the issue of
the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">We have examined originals, or copies certified
or otherwise identified to our satisfaction, of such corporate records, documents, agreements, instruments and certificates of public
officials of the State of New York and of officers of the Company as we have deemed necessary or appropriate in order to express the opinions
hereinafter set forth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">Based upon the foregoing, we are of the opinion
that, as of the date hereof:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 30.05pt"></TD><TD STYLE="width: 18pt">1.</TD><TD>When an issuance of Common Stock has been duly authorized by all necessary corporate action of the Company, upon issuance, delivery
and payment therefor in the manner contemplated by the Registration Statement and by such corporate action, such shares of Common Stock
will be validly issued, fully paid and nonassessable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Metropolitan Bank Holding Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 27, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 30.05pt"></TD><TD STYLE="width: 18pt">2.</TD><TD>When a series of Preferred Stock has been duly established in accordance with the terms of the Company&rsquo;s Certificate of Incorporation,
an appropriate certificate of amendment to the Company&rsquo;s Certificate of Incorporation relating to the series of Preferred Stock
has been duly authorized and adopted and filed with the Secretary of State of the State of New York, and authorized by all necessary corporate
action of the Company, and upon issuance, delivery and payment therefor in the manner contemplated by the Registration Statement and by
such corporate action, such shares of such series of Preferred Stock will be validly issued, fully paid and nonassessable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 30.05pt"></TD><TD STYLE="width: 18pt">3.</TD><TD>When an Indenture has been duly authorized by all necessary corporate action of the Company, and duly executed and delivered, and
when the specific terms of a particular Debt Security have been duly established in accordance with such Indenture and authorized by all
necessary corporate action of the Company, and such Debt Security has been duly executed, authenticated, issued and delivered against
payment therefor in accordance with such Indenture and in the manner contemplated by the Registration Statement and by such corporate
action, such Debt Security will be a legally valid and binding obligation of the Company, enforceable against the Company in accordance
with its terms.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 30.05pt"></TD><TD STYLE="width: 18pt">4.</TD><TD>When (i) a deposit agreement (a &ldquo;Deposit Agreement&rdquo;) representing the Depositary Shares has been duly authorized by all
necessary corporate action of the Company, and duly executed and delivered, (ii) the specific terms establishing the depositary receipts
representing the Depositary Shares (the &ldquo;Depositary Receipts&rdquo;) have been duly established in accordance with such Deposit
Agreement and authorized by all necessary corporate action by the Company, (iii) a series of Preferred Stock with respect to which Depositary
Shares are to be issued has been duly established in accordance with the terms of the Company&rsquo;s Certificate of Incorporation, an
appropriate certificate of amendment to the Company&rsquo;s Certificate of Incorporation relating to the Preferred Stock has been duly
authorized and adopted and filed with the Secretary of State of the State of New York, and authorized by all necessary corporate action
of the Company, (iv) such Depositary Shares have been duly executed, authenticated, issued and delivered against payment therefor in accordance
with such Deposit Agreement and in the manner contemplated by the Registration Statement and by such corporate action, the Depositary
Shares will be validly issued and will entitle the holders thereof to the rights specified in the Depositary Receipts and such Deposit
Agreement for such Depositary Receipts.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 30.05pt"></TD><TD STYLE="width: 18pt">5.</TD><TD>When a warrant agreement (a &ldquo;Warrant Agreement&rdquo;) has been duly authorized by all necessary corporate action of the Company,
and duly executed and delivered, and when the specific terms of a particular Warrant have been duly established in accordance with such
Warrant Agreement, and authorized by all necessary corporate action of the Company, and such Warrant has been duly executed, authenticated,
issued and delivered against payment therefor in accordance with such Warrant Agreement, as applicable, and in the manner contemplated
by the Registration Statement and by such corporate action, such Warrant will be a legally valid and binding obligation of the Company,
enforceable against the Company in accordance with its terms.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Metropolitan Bank Holding Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 27, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 30.05pt"></TD><TD STYLE="width: 18pt">6.</TD><TD>With respect to any Subscription Rights, when (a)&nbsp;the Company has taken all necessary corporate action to approve the issuance
and terms of such Subscription Rights, the terms, execution and delivery of the subscription agreement relating to the Subscription Rights
(&ldquo;Subscription Rights Agreement&rdquo;), the terms of the offering thereof and related matters, (b)&nbsp;the Subscription Rights
Agreement has been duly authorized and validly executed and delivered, and (c)&nbsp;such Subscription Rights have been duly executed,
attested, issued and delivered by duly authorized officers of the Company in accordance with the provisions of the applicable Subscription
Rights Agreement and the applicable definitive purchase, underwriting or similar agreement approved by the Company, upon payment of the
consideration therefor provided for therein, then such Subscription Rights will constitute valid and binding obligations of the Company,
enforceable against the Company in accordance with its terms.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">In connection with the opinions expressed above,
we have assumed that, at or prior to the time of the delivery of any such Security, (i) the Board of Directors of the Company shall have
duly established the terms of such Security and duly authorized the issuance and sale of such Security and such authorization shall not
have been modified or rescinded; (ii) the Company shall remain validly existing as a corporation in good standing under the laws of the
State of New York; (iii) the Registration Statement shall have become effective and such effectiveness shall not have been withdrawn,
terminated or rescinded; (iv) any Indenture and any supplemental indenture to be entered into in connection with the issuance of any Debt
Security is a valid, binding and enforceable agreement of each party thereto; and (v) there shall not have occurred any change in law
affecting the validity or enforceability of such Security. We have also assumed that the execution, delivery and performance by the Company
of any Security whose terms are established subsequent to the date hereof (a) require no action by or in respect of, or filing with, any
governmental body, agency or official and (b) do not contravene, or constitute a default under, any public policy, any provision of applicable
law or regulation or any judgment, injunction, order or decree or any agreement or other instrument binding upon the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">Our opinions are subject to: (i) the effect of
bankruptcy, insolvency, reorganization, preference, fraudulent transfer, moratorium or other similar laws relating to or affecting the
rights and remedies of creditors; (ii) the effect of general principles of equity, whether considered in a proceeding in equity or at
law (including the possible unavailability of specific performance or injunctive relief), concepts of materiality, reasonableness, good
faith and fair dealing, and the discretion of the court before which a proceeding is brought; and (iii) the invalidity under certain circumstances
under law or court decisions of provisions providing for the indemnification of or contribution to a party with respect to a liability
where such indemnification or contribution is contrary to public policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Metropolitan Bank Holding Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 27, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">The foregoing opinions are limited to the laws
of the State of New York. We express no opinion as to the effect of the laws of any other jurisdiction or the securities or &ldquo;blue
sky&rdquo; laws of any jurisdiction. Our opinion is expressed as of the date hereof and is based on laws currently in effect. Accordingly,
the conclusions set forth in this opinion are subject to change if any laws should change or be enacted in the future. We are under no
obligation to update this opinion or to otherwise communicate with you in the event of any such change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.05pt">We hereby consent to the filing of this opinion
as an exhibit to the Registration Statement. In giving such consent, we do not hereby concede that we are within the category of persons
whose consent is required under Section 7 of the Act, or the rules and regulations of the Securities and Exchange Commission thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 30%; text-align: justify">Very truly yours,</TD>
    <TD STYLE="width: 20%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">/s/ Luse Gorman, PC</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">LUSE GORMAN, PC</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 247.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 247.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 247.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 247.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 247.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>5
<FILENAME>tm2131062d1_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXHIBIT 23.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the use in this Registration Statement of Metropolitan
Bank Holding Corp. on Form S-3 of our report dated March 8, 2021, on the consolidated financial statements of Metropolitan Bank Holding
Corp. and to the reference to us under the heading &ldquo;Experts&rdquo; in the prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif">/s/ Crowe LLP</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 27, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
