<SEC-DOCUMENT>0001140361-25-046582.txt : 20251223
<SEC-HEADER>0001140361-25-046582.hdr.sgml : 20251223
<ACCEPTANCE-DATETIME>20251223171409
ACCESSION NUMBER:		0001140361-25-046582
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		17
FILED AS OF DATE:		20251223
DATE AS OF CHANGE:		20251223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Innventure, Inc.
		CENTRAL INDEX KEY:			0002001557
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				934440048
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-292427
		FILM NUMBER:		251601685

	BUSINESS ADDRESS:	
		STREET 1:		6900 TAVISTOCK LAKES BLVD, SUITE 400
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32827
		BUSINESS PHONE:		(321) 209-6787

	MAIL ADDRESS:	
		STREET 1:		6900 TAVISTOCK LAKES BLVD, SUITE 400
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32827

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Learn SPAC HoldCo, Inc.
		DATE OF NAME CHANGE:	20231117
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>ny20061800x1_s3.htm
<DESCRIPTION>S-3
<TEXT>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 540pt;"><a name="ny20061800x1_s3_100-regcov_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 540pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 25pt; text-align: center;">As filed with the Securities and Exchange Commission on December 23, 2025 </div><div class="BRDSX_regno" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 1pt; text-align: right;">Registration No. 333-&#8195;&#8195;&#8195; </div></div></div><div class="BRDSX_block-frill" style="width: 540pt; margin-left: 0pt;"><div><div class="BRDSX_rule-full" style="height: 0pt; width: 100%; border-bottom: 2pt solid #000000; margin-top: 1pt; margin-bottom: 1pt; margin-left: auto; margin-right: auto;"> </div><div class="BRDSX_rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 4pt;"> </div></div></div><div class="BRDSX_block-main" style="width: 540pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-weight: bold; margin-top: 9.5pt; text-align: center;">UNITED STATES<br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-weight: bold; margin-top: 0pt; text-align: center;">SECURITIES AND EXCHANGE COMMISSION<br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold; margin-top: 0pt; text-align: center; font-size: 12pt;"><font style="font-size: 12pt;">WASHINGTON, D.C. 20549</font></div><div><div class="BRDSX_rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 5.25pt;"> </div></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 10.5pt; text-align: center;">FORM S-3<br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold; margin-top: 0pt; text-align: center; font-size: 12pt;"><font style="font-size: 12pt;">REGISTRATION STATEMENT</font><br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold; margin-top: 0pt; text-align: center; font-size: 12pt;"><font style="font-size: 12pt;">UNDER</font><br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold; margin-top: 0pt; text-align: center; font-size: 12pt;"><font style="font-size: 12pt;">THE SECURITIES ACT OF 1933</font></div><div><div class="BRDSX_rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 5.25pt;"> </div></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 24pt; font-weight: bold; margin-top: 10.5pt; text-align: center;">INNVENTURE, INC. <br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold; margin-top: 0pt; text-align: center; font-size: 10pt;"><font style="font-size: 10pt; font-weight: normal;">(Exact name of registrant as specified in its charter) </font></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -2pt; margin-left: 0pt; text-align: left;"> </div><table cellspacing="0" cellpadding="0" class="BRDSX_txttab" style="margin-top: -2pt; width: 540pt; margin-left: auto; margin-right: auto;"><tr class="BRDSX_boxspacer"><td style="height: 6pt; width: 264pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 264pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr><tr><td style="width: 264pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">Delaware</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 264pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">93-4440048 </div></td></tr><tr><td style="width: 264pt; padding-top: 1.01pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">(State or other jurisdiction of incorporation or organization)</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 264pt; padding-top: 1.01pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">(I.R.S. Employer Identification Number)</div></td></tr><tr class="BRDSX_boxspacer"><td style="height: 2.75pt; width: 264pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 264pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr></table><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-weight: bold; margin-top: 3.5pt; text-align: center;">6900 Tavistock Lakes Blvd, Suite 400<br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-weight: bold; margin-top: 0pt; text-align: center;">Orlando, Florida 32827<br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-weight: bold; margin-top: 0pt; text-align: center;">(321) 209-6787<font style="font-weight: normal;"> </font></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 3.5pt; text-align: center;">(Address, including zip code, and telephone number, including area code, of registrant&#8217;s principal executive offices) </div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-weight: bold; margin-top: 3.5pt; text-align: center;">Gregory W. Haskell<br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-weight: bold; margin-top: 0pt; text-align: center;">Innventure, Inc.<br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-weight: bold; margin-top: 0pt; text-align: center;">6900 Tavistock Lakes Blvd, Suite 400<br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-weight: bold; margin-top: 0pt; text-align: center;">Orlando, Florida 32827<br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-weight: bold; margin-top: 0pt; text-align: center;">(321) 209-6787<font style="font-weight: normal;"> </font></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 3.5pt; text-align: center;">(Name, address, including zip code, and telephone number, including area code, of agent for service) </div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-style: italic; font-weight: bold; margin-top: 5.5pt; text-align: center;">Copies to:<font style="font-style: normal; font-weight: normal;"> </font><br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-style: italic; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-style: normal; font-weight: normal;">&#8195;</font><br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-style: italic; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-style: normal;">Joel T. May</font><br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-style: italic; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-style: normal;">Thomas L. Short</font><br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-style: italic; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-style: normal;">Jones Day</font><br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-style: italic; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-style: normal;">1221 Peachtree Street, N.E., Suite 400</font><br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-style: italic; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-style: normal;">Atlanta, Georgia 30361</font><br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-style: italic; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-style: normal;">Tel: (404) 521-3939</font></div><div><div class="BRDSX_rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 4.75pt;"> </div></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-weight: bold; margin-top: 5pt; margin-left: 0pt; text-align: left;">Approximate date of commencement of proposed sale to the public<font style="font-weight: normal;">: From time to time after this Registration Statement becomes effective.</font></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 3pt; margin-left: 0pt; text-align: left;">If the only securities being registered on this Form&#160;are being offered pursuant to dividend or interest reinvestment plans, please check the following box. <font style="font-size: 1pt;">&#8201;</font><font style="font-family: Arial, Helvetica, sans-serif;">&#x2610;</font></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 3pt; margin-left: 0pt; text-align: left;">If any of the securities being registered on this Form&#160;are to be offered on a delayed or continuous basis pursuant to Rule&#160;415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box. &#x2612;</div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 3pt; margin-left: 0pt; text-align: left;">If this Form&#160;is filed to register additional securities for an offering pursuant to Rule&#160;462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. <font style="font-size: 1pt;">&#8201;</font><font style="font-family: Arial, Helvetica, sans-serif;">&#x2610;</font></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 3pt; margin-left: 0pt; text-align: left;">If this Form&#160;is a post-effective amendment filed pursuant to Rule&#160;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. <font style="font-size: 1pt;">&#8201;</font><font style="font-family: Arial, Helvetica, sans-serif;">&#x2610;</font></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 3pt; margin-left: 0pt; text-align: left;">If this Form&#160;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&#160;462(e) under the Securities Act, check the following box. <font style="font-size: 1pt;">&#8201;</font><font style="font-family: Arial, Helvetica, sans-serif;">&#x2610;</font></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 3pt; margin-left: 0pt; text-align: left;">If this Form&#160;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&#160;413(b) under the Securities Act, check the following box. <font style="font-size: 1pt;">&#8201;</font><font style="font-family: Arial, Helvetica, sans-serif;">&#x2610;</font></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 3pt; margin-left: 0pt; text-align: left;">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 &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and "emerging growth company" in Rule&#160;12b-2 of the Exchange Act. </div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -2pt; margin-left: 0pt; text-align: left;"> </div><table cellspacing="0" cellpadding="0" class="BRDSX_txttab" style="margin-top: -2pt; width: 540pt; margin-left: auto; margin-right: auto;"><tr class="BRDSX_boxspacer"><td style="height: 6pt; width: 216pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 264pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 12pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr><tr><td style="width: 216pt; padding-bottom: 1.53pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Large accelerated filer </div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 12pt; padding-bottom: 1.53pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 1pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#8201;<font style="font-size: 9.2pt; 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padding-top: 1.19pt; padding-bottom: 1.53pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Non-accelerated filer </div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 12pt; padding-top: 1.19pt; padding-bottom: 1.53pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#x2612;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 264pt; padding-top: 1.19pt; padding-bottom: 1.53pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Smaller reporting company </div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 12pt; padding-top: 1.19pt; padding-bottom: 1.53pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#x2612; </div></td></tr><tr><td style="width: 216pt; padding-top: 1.19pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt;">&#160;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 12pt; padding-top: 1.19pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt;">&#160;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 264pt; padding-top: 1.19pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Emerging growth company </div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 12pt; padding-top: 1.19pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#x2612;</div></td></tr><tr class="BRDSX_boxspacer"><td style="height: 3.05pt; width: 216pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 3.05pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 3.05pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 3.05pt; width: 12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 3.05pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 3.05pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 3.05pt; width: 264pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 3.05pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 3.05pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 3.05pt; width: 12pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr></table><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; margin-top: 3pt; margin-left: 0pt; text-align: left;">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&#160;7(a)(2)(B) of Securities Act. <font style="font-size: 1pt;">&#8201;</font><font style="font-family: Arial, Helvetica, sans-serif;">&#x2610;</font> </div><div><div class="BRDSX_rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 4.75pt;"> </div></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.2pt; font-weight: bold; margin-top: 3pt; margin-left: 0pt; text-align: left;">The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.<font style="font-weight: normal;"> </font></div></div><div class="BRDSX_block-frill" style="width: 540pt; margin-top: 12pt; margin-left: 0pt;"><div><div class="BRDSX_rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-top: 1pt; margin-bottom: 1pt; margin-left: auto; margin-right: auto;"> </div><div class="BRDSX_rule-full" style="height: 0pt; width: 100%; border-bottom: 2pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 4pt;"> </div></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 528pt;"><a name="ny20061800x1_s3_101-cov_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 528pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #FC0014; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><div style="font-family: Arial, Helvetica, sans-serif; text-align: left; margin-bottom: 12pt;">The information contained in this prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities, and it is not soliciting an offer to buy these securities, in any state where the offer or sale is not permitted. </div>SUBJECT TO COMPLETION, DATED DECEMBER 23, 2025<font style="color: #000000;"> </font></div><div class="BRDSX_h2" style="color: #FC0014; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 14pt; margin-left: 0pt; text-align: left;">PROSPECTUS</div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 13.75pt; text-align: center;"><img style="height: 61px; width: 232px;" src="logo_innventure2.jpg"><br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#8201; <br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 15.5pt; text-align: center;">$200,000,000<br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 0pt; text-align: center;">&#8195; <br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 0pt; text-align: center;">Common Stock<br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 0pt; text-align: center;">Preferred Stock<br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 0pt; text-align: center;">Depositary Shares<br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 0pt; text-align: center;">Warrants<br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 0pt; text-align: center;">Subscription Rights <br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 0pt; text-align: center;">Debt Securities <br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 0pt; text-align: center;">Purchase Contracts<br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 0pt; text-align: center;">Units<br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 0pt; text-align: center;">&#8195; <br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold; margin-top: 0pt; text-align: center;">of</div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 18pt; font-weight: bold; margin-top: 13.5pt; text-align: center;">INNVENTURE, INC. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may offer and sell from time to time shares of our common stock, preferred stock, depositary shares, warrants, subscription rights, debt securities and purchase contracts, as well as units that include any of these securities. We may sell any combination of these securities in one or more offerings with an aggregate initial offering price of $200,000,000. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We will provide the specific terms of the securities to be offered in one or more supplements to this prospectus. You should read this prospectus and any applicable prospectus supplement carefully before you invest in our securities. This prospectus may not be used to offer and sell our securities unless accompanied by a prospectus supplement describing the method and terms of the offering of those offered securities. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may offer our securities through agents, underwriters or dealers or directly to investors. Each prospectus supplement will provide the amount, price and terms of the plan of distribution relating to the securities to be sold pursuant to such prospectus supplement. We will set forth the names of any underwriters or agents in the accompanying prospectus supplement, as well as the net proceeds we expect to receive from such sale. In addition, the underwriters, if any, may over-allot a portion of the securities. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Our common stock, par value $0.0001 per share (&#8220;Common Stock&#8221;), is listed on the Nasdaq Global Market (&#8220;NASDAQ&#8221;) under the symbol &#8220;INV.&#8221; On December 22, 2025, the last reported sales price of our Common Stock was $4.35 per share. None of the other securities that we may offer under this prospectus are currently publicly traded. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We are an &#8220;emerging growth company&#8221; as defined under the U.S. federal securities laws and, as such, have elected to comply with certain reduced public company reporting requirements.<font style="font-weight: normal;"> </font></div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Investing in our securities is highly speculative and involves a high degree of risk. Please read carefully the section titled &#8220;Risk Factors&#8221; beginning on page <a href="#tRF">6</a> of this prospectus.<font style="font-weight: normal;"> </font></div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; text-align: center;"><div class="BRDSX_rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-top: 6pt; display: inline-block; margin-left: auto; margin-right: auto;"> </div> <br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 122pt; text-align: center;">The date of this prospectus is &#8195;&#8195;&#8195;&#8195;, 2025</div></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_102-toc_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">TABLE OF CONTENTS</div><a name="TOC"><!--Anchor--></a><table cellspacing="0" cellpadding="0" class="BRDSX_fintab" style="margin-top: 4pt; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="BRDSX_boxspacer"><td style="height: 6pt; width: 432pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 16.44pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr><tr class="BRDSX_header"><td style="width: 432pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt; border-bottom: none;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Page</div></td></tr><tr><td style="width: 432pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tATP">ABOUT THIS PROSPECTUS<font style="padding-left: 0.99pt;"></font></a></div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tATP"><font style="padding-left: 5pt;">1</font> </a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tWY">WHERE YOU CAN FIND ADDITIONAL INFORMATION<font style="padding-left: 0.59pt;"></font></a></div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tWY"><font style="padding-left: 5pt;">1</font></a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tICI">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE<font style="padding-left: 2.16pt;"></font></a></div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tICI"><font style="padding-left: 5pt;">2</font></a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tDR">DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS<font style="padding-left: 1.19pt;"></font></a></div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tDR"><font style="padding-left: 5pt;">3</font></a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tOB">OUR BUSINESS<font style="padding-left: 3.68pt;"></font></a></div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tOB"><font style="padding-left: 5pt;">5</font></a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tRF">RISK FACTORS<font style="padding-left: 0.15pt;"></font></a></div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tRF"><font style="padding-left: 5pt;">6</font></a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tUP">USE OF PROCEEDS<font style="padding-left: 1.73pt;"></font></a></div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tUP"><font style="padding-left: 5pt;">7</font></a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tDC">DESCRIPTION OF CAPITAL STOCK<font style="padding-left: 0.6pt;"></font></a></div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tDC"><font style="padding-left: 5pt;">8</font></a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tDD">DESCRIPTION OF DEPOSITARY SHARES<font style="padding-left: 0.42pt;"></font></a></div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tDD">13</a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tDW">DESCRIPTION OF WARRANTS<font style="padding-left: 1.93pt;"></font></a></div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tDW">15</a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tDS">DESCRIPTION OF SUBSCRIPTION RIGHTS<font style="padding-left: 2.04pt;"></font></a></div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tDS">17</a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tDDS">DESCRIPTION OF DEBT SECURITIES<font style="padding-left: 1.65pt;"></font></a></div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tDDS">18</a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tDPC">DESCRIPTION OF PURCHASE CONTRACTS<font style="padding-left: 2.59pt;"></font></a></div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tDPC">25</a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tDOU">DESCRIPTION OF UNITS<font style="padding-left: 2.3pt;"></font></a></div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tDOU">26</a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tPOD">PLAN OF DISTRIBUTION<font style="padding-left: 0.64pt;"></font></a></div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tPOD">27</a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tLM">LEGAL MATTERS<font style="padding-left: 4.05pt;"></font></a></div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tLM">29</a></div></td></tr><tr><td style="width: 432pt; padding-top: 1.01pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tEX">EXPERTS<font style="padding-left: 1.77pt;"></font></a></div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 16.44pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tEX">29</a></div></td></tr><tr class="BRDSX_boxspacer"><td style="height: 2.75pt; width: 432pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 9.78pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 16.44pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">i<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_103-about_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tATP"><!--Anchor--></a>ABOUT THIS PROSPECTUS </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">This prospectus is part of a registration statement that we filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) using a &#8220;shelf&#8221; registration process. Under this shelf registration process, we may from time to time sell any combination of the securities described in this prospectus in one or more offerings up to an aggregate initial offering price of $200,000,000. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">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 more specific information about the terms of that offering. For a more complete understanding of the offering of the securities, you should refer to the registration statement, including its exhibits. The prospectus supplement may also add, update or change information contained in this prospectus. You should read both this prospectus and any applicable prospectus supplement together with additional information under the heading &#8220;<font style="font-style: italic;">Where You Can Find Additional Information</font>&#8221; and &#8220;<font style="font-style: italic;">Incorporation of Certain Information By Reference</font>.&#8221; </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">You should rely only on the information contained or incorporated by reference in this prospectus and in any applicable prospectus supplement. We have not authorized anyone to provide you with different information. You should not assume that the information contained in this prospectus, any applicable prospectus supplement, or any document incorporated by reference is accurate as of any date other than the date mentioned on the cover page of these documents. We are not making offers to sell the securities in any jurisdiction in which an offer or solicitation is not authorized or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make an offer or solicitation. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">On October&#160;2, 2024 (the &#8220;Closing Date&#8221; or &#8220;Closing&#8221;), Learn CW Investment Corporation, a Cayman Islands exempted company (both prior to and after the Closing Date, &#8220;Learn CW&#8221;) and Innventure LLC, a Delaware limited liability company (&#8220;Innventure LLC&#8221;), consummated the previously announced business combination (&#8220;Business Combination&#8221;) with Learn SPAC HoldCo, Inc., a Delaware corporation and direct, wholly-owned subsidiary of Learn CW (&#8220;Holdco&#8221;), LCW Merger Sub, Inc., a Delaware corporation and direct, wholly-owned subsidiary of Holdco (&#8220;LCW Merger Sub&#8221;), and Innventure Merger Sub, LLC, a Delaware limited liability company and direct, wholly-owned subsidiary of Holdco (&#8220;Innventure Merger Sub&#8221;). Following the Closing, each of Learn CW and Innventure LLC are subsidiaries of Holdco, and Holdco became a publicly traded company. At the Closing, Holdco changed its name to &#8220;Innventure, Inc.&#8221; Innventure, Inc.&#8217;s Common Stock is listed on NASDAQ under the symbol &#8220;INV&#8221;. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Unless the context indicates otherwise, references in this prospectus to the &#8220;Company,&#8221; &#8220;Innventure,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our&#8221; and similar terms refer to Innventure, Inc. (f/k/a Learn SPAC HoldCo, Inc.) and its consolidated subsidiaries. </div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; text-align: center;"><a name="tWY"><!--Anchor--></a>WHERE YOU CAN FIND ADDITIONAL INFORMATION </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We file annual, quarterly and current reports, proxy statements and other information with the SEC. The SEC maintains an Internet website that contains reports, proxy and information statements and other information regarding issuers, including us, that file electronically with the SEC. The address for the SEC&#8217;s website is www.sec.gov. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We make available, free of charge, on our website at www.innventure.com, our annual reports on Form&#160;10-K, quarterly reports on Form&#160;10-Q, current reports on Form&#160;8-K and amendments to those reports and statements as soon as reasonably practicable after they are filed with the SEC. The contents of our website are not part of this prospectus, and the reference to our website does not constitute incorporation by reference into this prospectus of the information contained at that site, other than documents we file with the SEC that are incorporated by reference into this prospectus. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">1<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_104-incorp_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tICI"><!--Anchor--></a>INCORPORATION OF CERTAIN INFORMATION BY REFERENCE </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The SEC allows us to &#8220;incorporate by reference&#8221; into this prospectus the information in documents we file with it, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be a part of this prospectus, and information that we file later with the SEC will automatically update and supersede this information. Any statement contained in any document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement contained in or omitted from this prospectus or any accompanying prospectus supplement, or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein, modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus. We incorporate by reference the documents listed below and any future documents that we file with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (1) after the date of the initial filing of the registration statement of which this prospectus forms a part prior to the effectiveness of the registration statement and (2) after the date of this prospectus until the offering of the securities is terminated. We do not, however, incorporate by reference in this prospectus any documents or portions thereof that are not deemed &#8220;filed&#8221; with the SEC, including any information furnished pursuant to item 2.02 or item 7.01 of our current reports on Form&#160;8-K after the date of this prospectus unless, and except to the extent, specified in such current reports. </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Our Annual Report on Form&#160;10-K for the fiscal year ended <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/2001557/000162828025017614/innv-20241231.htm">December&#160;31, 2024</a>; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Our Quarterly Reports on Form&#160;10-Q for the quarterly periods ended <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/2001557/000162828025025892/innv-20250331.htm">March&#160;31, 2025</a>, <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/2001557/000162828025040379/innv-20250630.htm">June&#160;30, 2025</a>, and <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/2001557/000162828025052035/innv-20250930.htm">September&#160;30, 2025</a>; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">The description of our capital stock contained in Exhibit&#160;4.1 to our Annual Report on Form&#160;10-K for the year ended <a href="https://www.sec.gov/Archives/edgar/data/2001557/000162828025017614/exhibit41to2024description.htm">December&#160;31, 2024</a>, as amended by any subsequent amendments and reports filed for the purpose of updating that description. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">You may obtain copies of these filings without charge by requesting the filings in writing or by telephone at the following address: </div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8.5pt; text-align: center;">Innventure, Inc.<br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">6900 Tavistock Lakes Boulevard, Suite 400<br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Orlando, Florida 32827<br></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">(321) 209-6787 </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We have filed with the SEC a registration statement on Form&#160;S-3 under the Securities Act of 1933 (the &#8220;Securities Act&#8221;) covering the securities to be offered and sold by this prospectus and any applicable prospectus supplement. This prospectus does not contain all of the information included in the registration statement, some of which is contained in exhibits to the registration statement. The registration statement, including the exhibits, can be read at the SEC website or at the SEC offices referred to above. Any statement made in this prospectus or any applicable prospectus supplement concerning the contents of any contract, agreement or other document is only a summary of the actual contract, agreement or other document. If we have filed any contract, agreement or other document as an exhibit to the registration statement, you should read the exhibit for a more complete understanding of the document or matter involved. Each statement regarding a contract, agreement or other document is qualified in its entirety by reference to the actual document. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">2<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_105-fls_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tDR"><!--Anchor--></a>DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Some of the statements contained in this prospectus and any accompanying prospectus supplement or incorporated by reference into this prospectus and any accompanying prospectus supplement are forward-looking statements within the meaning of Section&#160;27A of the Securities Act, and Section&#160;21E of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;). Forward-looking statements are all statements other than those of historical fact, including statements about the Company&#8217;s business model, the financial condition, results of operations, earnings outlook and its Operating Companies&#8217; (as defined below) prospects. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements generally relate to future events or the Company&#8217;s future financial or operating performance and may refer to projections and forecasts. Forward-looking statements are often identified by future or conditional words such as &#8220;plan,&#8221; &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;intend,&#8221; &#8220;outlook,&#8221; &#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;continue,&#8221; &#8220;could,&#8221; &#8220;may,&#8221; &#8220;might,&#8221; &#8220;possible,&#8221; &#8220;will,&#8221; &#8220;potential,&#8221; &#8220;predict,&#8221; &#8220;should,&#8221; &#8220;would&#8221; and other similar words and expressions (or the negative versions of such words or expressions), but the absence of these words does not mean that a statement is not forward-looking. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The forward-looking statements are based on the current expectations of the Company&#8217;s management and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of this prospectus. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. The risks and uncertainties include, but are not limited to, those factors discussed and identified in other public filings made with the SEC by the Company and the following: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">expectations regarding Innventure&#8217;s and the Innventure Companies&#8217; (as defined below) ability to execute on strategies and achieve future financial performance, including their respective future business plans, expansion and acquisition plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and Innventure&#8217;s ability to invest in growth initiatives; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the implementation, market acceptance and success of Innventure&#8217;s and the Innventure Companies&#8217; business models and growth strategies; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Innventure&#8217;s and the Innventure Companies&#8217; future capital requirements and sources and uses of cash; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">sustained unfavorable economic or other conditions which could cause the need for Innventure to evaluate and potentially record additional impairment charges for all, or a portion of, its goodwill and other intangible assets; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Innventure&#8217;s future capital requirements and sources and uses of cash, including: (i) Innventure&#8217;s ability to obtain funding for its operations and future growth; and (ii) Innventure&#8217;s ability to continue as a going concern; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Innventure&#8217;s ability to maintain control over the Innventure Companies; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Innventure&#8217;s ability to meet the various conditions imposed by, and to satisfy its obligations to, WTI Fund X, Inc. and WTI Fund XI, Inc., under a term loan facility in the aggregate principal amount of up to $50,000,000 (of which, the Company satisfied the conditions necessary to receive, and has received, $20,000,000); </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Innventure&#8217;s access to funds under the Standby Equity Purchase Agreement (the &#8220;SEPA&#8221;) entered into with YA II PN, Ltd. (&#8220;Yorkville&#8221;), dated October&#160;24, 2023, including ownership limitations, issuances and subscriptions based on trading volumes, and Innventure&#8217;s ability to continue to access the funds available under the SEPA due to certain conditions, restrictions and limitations set forth therein and in the securities purchase agreement, dated September&#160;15, 2025, entered into with Yorkville; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">certain restrictions and limitations set forth in Innventure&#8217;s debt instruments, which may impair Innventure&#8217;s financial and operating flexibility; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Innventure&#8217;s and the Innventure Companies&#8217; ability to generate liquidity and maintain sufficient capital to operate as anticipated; </div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">3<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_105-fls_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Innventure&#8217;s and the Innventure Companies&#8217; ability to obtain funding for their operations, future growth and to continue as going concerns; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the risk that the technology solutions that Innventure and the Innventure Companies license or acquire from third parties or develop internally may not function as anticipated or provide the benefits anticipated; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">developments and projections relating to Innventure&#8217;s and the Innventure Companies&#8217; competitors and industry; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the ability of Innventure and the Innventure Companies to scale the operations of their respective businesses; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the ability of Innventure and the Innventure Companies to establish substantial commercial sales of their products; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the ability of Innventure and the Innventure Companies to compete against companies with greater capital and other resources or superior technology or products; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Innventure and the Innventure Companies&#8217; ability to meet, and to continue to meet, applicable regulatory requirements for the use of their respective products and the numerous regulatory requirements generally applicable to their businesses; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the outcome of any legal proceedings against Innventure or the Innventure Companies; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Innventure&#8217;s ability to find future opportunities to license or acquire breakthrough technology solutions from multinational corporations or other third parties (collectively, &#8220;Technology Solutions Providers&#8221;) and to satisfy the requirements imposed by or to avoid disagreements with its current and future Technology Solutions Providers; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the risk that the launch of new companies distracts Innventure&#8217;s management from its subsidiaries and their respective operations; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the risk that Innventure may be deemed an investment company under the Investment Company Act of 1940, which would impose burdensome compliance requirements and restrictions on its activities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Innventure&#8217;s ability to sufficiently protect the intellectual property (&#8220;IP&#8221;) rights of itself and its Operating Companies, and to avoid or resolve in a timely and cost-effective manner any disputes that may arise relating to its use of the IP of third parties; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the risk of a cyber-attack or a failure of Innventure&#8217;s information technology and data security infrastructure; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">geopolitical risk and changes in applicable laws or regulations, including with respect to foreign trade policy and tariffs; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">potential adverse effects of other economic, business, and/or competitive factors; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">operational risks related to Innventure and the Innventure Companies, which have limited or no operating history; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the limited liquidity and trading of Innventure&#8217;s securities. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. All forward-looking statements in this prospectus and any accompanying prospectus supplement or incorporated by reference into this prospectus and any accompanying prospectus supplement are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required under applicable law. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">4<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_105-fls_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tOB"><!--Anchor--></a>OUR BUSINESS </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We were incorporated as a Delaware corporation in 2024. Innventure founds, funds, and operates companies with a focus on transformative, sustainable technology solutions that we acquire or license from technology innovators. Innventure has launched four such companies since its inception: PureCycle Technologies, Inc. (&#8220;PureCycle&#8221;) in late 2015, AeroFlexx, LLC (&#8220;AeroFlexx&#8221;) in 2018, Accelsius Holdings LLC (&#8220;Accelsius&#8221;) in 2022, and Refinity Olefins, LLC (&#8220;Refinity&#8221;) in 2024. PureCycle became a publicly traded company in 2021 and, as of the date of this prospectus, Innventure no longer has an economic interest in PureCycle. We refer to AeroFlexx, Accelsius and Refinity as &#8220;Innventure Companies&#8221; and to the Innventure Companies along with those subsidiary companies that Innventure may found, fund, and operate going forward as the &#8220;Operating Companies.&#8221; </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Our principal executive office is located at 900 Tavistock Lakes Blvd, Suite 400, Orlando, Florida 32827, and our telephone number is (321) 209-6787. Our website address is www.innventure.com. Information contained on or accessible through our website is not a part of this prospectus other than documents we file with the SEC that are specifically incorporated by reference into this prospectus. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">5<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_106-risk_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tRF"><!--Anchor--></a>RISK FACTORS </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">An investment in our securities involves a high degree of risk. You should carefully consider any risk factors contained in any applicable prospectus supplement, as well as the risk factors set forth in our most recently filed Annual Report on Form&#160;10-K and any material changes to those risk factors set forth in a Quarterly Report on Form&#160;10-Q. You should also refer to the other information in this prospectus and any applicable prospectus supplement, including our financial statements and the related notes incorporated by reference into this prospectus. Additional risks and uncertainties that are not yet identified may also materially harm our business, operating results and financial condition. If any of these risks actually occurs, our business, results of operations and financial condition could suffer. In that case, the trading price of our securities could decline, and you could lose all or part of your investment. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">6<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_107-use_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tUP"><!--Anchor--></a>USE OF PROCEEDS </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Unless otherwise indicated in any applicable prospectus supplement or other offering materials, we intend to use the net proceeds from the sale of our securities to which this prospectus relates for general corporate purposes. General corporate purposes may include repayment of debt, acquisitions, investments, additions to working capital, capital expenditures and advances to or investments in our Operating Companies. Pending any specific application, we may invest net proceeds in short-term marketable securities or apply them to the reduction of short-term debt. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">7<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tDC"><!--Anchor--></a>DESCRIPTION OF CAPITAL STOCK </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We are authorized to issue 250,000,000 shares of Common Stock and 25,000,000 shares of preferred stock, par&#160;value $0.0001 per share. Of the 25,000,000 shares of preferred stock, 3,000,000 shares are designated as &#8220;Series&#160;B Preferred Stock&#8221; and 5,000,000 shares are designated as &#8220;Series&#160;C Preferred Stock.&#8221; As of December 22, 2025, 67,743,847 shares of Common Stock were issued and outstanding, 33,144 shares of Series B Preferred Stock were issued and outstanding, and 150,000 shares of Series C Preferred Stock were issued and outstanding. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 12.5pt; margin-left: 0pt; text-align: left;">Common Stock </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">This section describes the general terms and provisions of our Common Stock. For more detailed information you should refer to our Amended and Restated Certificate of Incorporation &#8220;(A&amp;R Certificate of Incorporation&#8221;) and By-laws (the &#8220;Bylaws&#8221;), copies of which have been filed with the SEC. These documents are also incorporated by reference into the registration statement of which this prospectus forms a part. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Each share of Common Stock shall entitle the record holder to one (1) vote per share on all matters submitted to a vote of stockholders. The holders of shares of Common Stock shall not have cumulative voting rights. Upon the Company&#8217;s liquidation, dissolution or winding up and after payment in full of all amounts required to be paid to creditors or any other series of preferred stock having liquidation preferences, if any, the holders of Common Stock will be entitled to receive pro rata the Company&#8217;s remaining assets available for distribution. Holders of Common Stock do not have preemptive, subscription, redemption or conversion rights. Common Stock will not be subject to further calls or assessment by the Company. There will be no redemption or sinking fund provisions applicable to the Common Stock. All shares of Common Stock currently outstanding are fully paid and non-assessable. The rights, powers, preferences and privileges of holders of Common Stock will be subject to those of the holders of any series of the Company&#8217;s preferred stock that the Company may authorize and issue in the future, the Series&#160;B Preferred Stock and the Series&#160;C Preferred Stock. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">When a quorum is present at any meeting of stockholders, any matter other than the election of directors to be voted upon by the stockholders at such meeting will be decided by the affirmative vote of the holders of a majority of votes cast (excluding abstentions and broker non-votes) on such matter, unless a different or minimum vote is required by law. At all meetings of stockholders for the election of directors at which a quorum is present, a plurality of the votes cast will be sufficient to elect such directors. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 12pt; margin-left: 0pt; text-align: left;">Preferred Stock </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">This section describes the general terms and provisions of our preferred stock. For more detailed information, you should refer to the A&amp;R Certificate of Incorporation and our Bylaws, copies of which have been filed with the SEC. These documents are also incorporated by reference into the registration statement of which this prospectus forms a part. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">After the designation of the Series&#160;B Preferred Stock and the Series&#160;C Preferred Stock, 17,000,000 authorized shares of preferred stock remain available for the creation and issuance of one or more additional series of preferred stock by the Company&#8217;s Board of Directors (the &#8220;Board&#8221;). Unless required by law or by applicable stock exchange rule, the remaining authorized shares of preferred stock will be available for issuance without further action by you. The Board is authorized to fix from time to time before issuance the number of preferred shares to be included in any such series and the designation, powers, preferences and relative participating, optional or other rights, if any, and the qualifications, limitations or restrictions thereof. The authority of the Board with respect to each such series will include, without limiting the generality of the foregoing, the determination of any or all of the following: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the number of shares of any series and the designation to distinguish the shares of such series from the shares of all other series; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the voting powers, if any, and whether such voting powers are full or limited in such series; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the redemption provisions, if any, applicable to such series, including the redemption price or prices to be paid; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">whether dividends, if any, will be cumulative or noncumulative, the dividend rate of such series, and the dates and preferences of dividends on such series; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the rights of such series upon the voluntary or involuntary dissolution of, or upon any distribution of the assets of, the Company; </div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">8<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the provisions, if any, pursuant to which the shares of such series are convertible into, or exchangeable for, shares of any other class or classes or of any other series of the same or any other class or classes of stock, or any other security, of the Company or any other corporation or other entity, and the rates or other determinants of conversion or exchange applicable thereto; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the right, if any, to subscribe for or to purchase any securities of the Company or any other corporation or other entity; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the provisions, if any, of a sinking fund applicable to such series; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any other relative, participating, optional, or other special powers, preferences or rights and qualifications, limitations, or restrictions thereof; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">all as may be determined from time to time by the Board and stated or expressed in the resolution or resolutions providing for the issuance of such preferred stock (collectively, a &#8220;Preferred Stock Designation&#8221;). </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The Company could issue a series of preferred stock that could, depending on the terms of the series, impede or discourage an acquisition attempt or other transaction that some, or a majority, of the holders of Common Stock might believe to be in their best interests or in which the holders of Common Stock might receive a premium for their Common Stock over its market price. Additionally, the issuance of preferred stock may adversely affect the rights of holders of Common Stock by restricting dividends on Common Stock, diluting the voting power of Common Stock or subordinating the liquidation rights of Common Stock. As a result of these or other factors, the issuance of preferred stock could have an adverse impact on the market price of Common Stock. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 12pt; margin-left: 0pt; text-align: left;">Dividends </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The Delaware General Corporation Law, as amended (the &#8220;DGCL&#8221;), permits a corporation to declare and pay dividends out of &#8220;surplus&#8221; or, if there is no &#8220;surplus,&#8221; out of its net profits for the fiscal year in which the dividend is declared and/or the preceding fiscal year. &#8220;Surplus&#8221; is defined as the excess of the net assets of the corporation over the amount determined to be the capital of the corporation by the Board. The capital of the corporation is typically calculated to be (and cannot be less than) the aggregate par value of all issued shares of capital stock. Net assets equals the fair value of the total assets minus total liabilities. The DGCL also provides that dividends may not be paid out of net profits if, after the payment of the dividend, capital is less than the capital represented by the outstanding stock of all classes having a preference upon the distribution of assets. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Subject to applicable law and the rights, if any, of the holders of any outstanding series of preferred stock (including the Series&#160;B Preferred Stock and the Series&#160;C Preferred Stock) or any class or series of stock having a preference senior to or the right to participate with the Common Stock with respect to the payment of dividends (and other distributions of cash, stock or property), such holders of Common Stock shall be entitled to the payment of dividends (and other distributions of cash, stock or property) ratably in proportion to the number of shares held by each such stockholder when, as and if declared by the Board in its discretion from time to time in accordance with applicable law. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Innventure has no current plans to pay dividends on the Common Stock. Any decision to declare and pay dividends in the future will be made at the sole discretion of the Board and will depend on, among other things, Innventure&#8217;s results of operations, cash requirements, financial condition, contractual restrictions and other factors that the Board may deem relevant. Because Innventure is a holding company with no direct operations, Innventure will only be able to pay dividends from funds it receives from its subsidiaries. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 12pt; margin-left: 0pt; text-align: left;">Annual Stockholder Meetings </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The Bylaws provide that annual stockholder meetings will be held at such date, time and place, if any, as determined by the Board. The Board may also determine that a meeting of stockholders be held by means of remote communication as authorized by and in accordance with the DGCL. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 12pt; margin-left: 0pt; text-align: left;">Anti-Takeover Effects of Innventure&#8217;s A&amp;R Certificate of Incorporation and Bylaws and Certain Provisions of Delaware Law </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The A&amp;R Certificate of Incorporation and Bylaws contain, and the DGCL contains, provisions, which are summarized in the following paragraphs, that are intended to enhance the likelihood of continuity and stability in the composition of the Board. These provisions are intended to avoid costly takeover battles, reduce Innventure&#8217;s </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">9<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: left;">vulnerability to a hostile change of control and enhance the ability of the Board to maximize stockholder value in connection with any unsolicited offer to acquire Innventure. However, these provisions may have an anti-takeover effect and may delay, deter or prevent a merger or acquisition of Innventure by means of a tender offer, a proxy contest or other takeover attempt that a stockholder might consider in its best interest, including those attempts that might result in a premium over the prevailing market price for the shares of Common Stock held by stockholders. </div><div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12pt; margin-left: 20pt; text-align: left;">Authorized but Unissued Capital Stock </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Delaware law does not require stockholder approval for any issuance of authorized shares. However, the listing requirements of NASDAQ, which would apply if and so long as Common Stock remains listed on NASDAQ, require stockholder approval of certain issuances equal to or exceeding 20% of the then outstanding voting power or then outstanding number of shares of common stock. Additional shares that may be used in the future may be issued for a variety of corporate purposes, including future public offerings, to raise additional capital or to facilitate acquisitions. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The Board may generally issue preferred shares on terms calculated to discourage, delay or prevent a change of control of Innventure or the removal of Innventure&#8217;s management. Moreover, Innventure&#8217;s authorized but unissued shares of preferred stock will be available for future issuances without stockholder approval and could be utilized for a variety of corporate purposes, including future offerings to raise additional capital, to facilitate acquisitions and employee benefit plans. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">One of the effects of the existence of unissued and unreserved Common Stock or preferred stock may be to enable the Board to issue shares to persons friendly to current management, which issuance could render more difficult or discourage an attempt to obtain control of Innventure by means of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of Innventure&#8217;s management and possibly deprive Innventure&#8217;s stockholders of opportunities to sell their shares of Common Stock at prices higher than prevailing market prices. </div><div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12pt; margin-left: 20pt; text-align: left;">Classified Board of Directors </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Innventure&#8217;s directors, other than those who may be elected by the holders of any future series of preferred stock, will be classified with respect to the time for which they severally hold office into three classes, as nearly equal in number as possible, designated Class&#160;I, Class&#160;II, and Class&#160;III. At any meeting of stockholders at which directors are to be elected, the number of directors elected may not exceed the greatest number of directors then in office in any class of directors. The directors first elected to Class&#160;I held office for a term that expired at the annual meeting of stockholders held in 2025 and will hold office for a term expiring at the annual meeting of stockholders to be held in 2028; the directors first elected to Class&#160;II will hold office for a term expiring at the annual meeting of stockholders to be held in 2026; and the directors first elected to Class&#160;III will hold office for a term expiring at the annual meeting of stockholders to be held in 2027, with the members of each class to hold office until their successors are elected and qualified. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">At each succeeding annual meeting of the stockholders of Innventure, the successors to the class of directors whose term expires at that meeting will be elected by plurality vote of all votes cast at such meeting to hold office for a term expiring at the annual meeting of stockholders held in the third year following the year of their election and until their successors are elected and qualified. Subject to the rights, if any, of the holders of any future series of preferred stock to elect additional directors under circumstances specified in a Preferred Stock Designation, directors may be elected by the stockholders only at an annual meeting of stockholders. </div><div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12pt; margin-left: 20pt; text-align: left;">Removal of Directors; Vacancies </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Subject to the rights of the holders of any series of preferred stock then outstanding, for as long as this A&amp;R&#160;Certificate of Incorporation provides for a classified board of directors, any director may otherwise be removed only for cause by an affirmative vote of at least two-thirds of the total voting power of all the outstanding shares of capital stock of Innventure entitled to vote generally in the election of directors, voting together as a single class, at a meeting duly called for that purpose. Vacancies on the Board will be able to be filled only by resolution of a majority of the directors then in office, although less than a quorum, or by a sole remaining director. </div><div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12pt; margin-left: 20pt; text-align: left;">Special Stockholder Meetings </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Subject to the special rights of the holders of one or more series of preferred stock, special meetings of the stockholders of Innventure may be called, for any purpose or purposes, at any time only by or at the direction of the Board, the chairperson of the Board, the Chief Executive Officer, or President. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">10<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 6.75pt; margin-left: 20pt; text-align: left;">Requirements for Advance Notification of Director Nominations and Stockholder Proposals </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The Bylaws establish advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations made by or at the direction of the Board or a committee of the Board. In order for any matter to be properly brought before a meeting, a stockholder must comply with advance notice requirements and provide Innventure with certain information. Generally, to be timely, a stockholder&#8217;s notice relating to any nomination or other business to be brought before an annual meeting of stockholders must be delivered to the Secretary at Innventure&#8217;s principal executive offices not less than 90 days nor more than 120 days prior to the one-year anniversary of the immediately preceding annual meeting of stockholders. The Bylaws will also specify requirements as to the form and content of a stockholder&#8217;s notice. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">These notice provisions may defer, delay or discourage a potential acquirer from conducting a solicitation of proxies to elect the acquirer&#8217;s own slate of directors or otherwise attempting to influence or obtain control of Innventure. </div><div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 14pt; margin-left: 20pt; text-align: left;">Stockholder Action by Written Consent </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Any action required or permitted to be taken by the stockholders may be taken only at a duly called annual or special meeting of stockholders and may not be taken by consent of the stockholders in lieu of a meeting. However, any action required or permitted to be taken by the holders of any series of preferred stock (including the Series&#160;B Preferred Stock and Series&#160;C Preferred Stock), voting separately as a series or separately as a class with one or more other such series, may be taken without a meeting to the extent expressly provided by the applicable Preferred Stock Designation. </div><div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 14pt; margin-left: 20pt; text-align: left;">Dissenters&#8217; Rights of Appraisal and Payment </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Under the DGCL, with certain exceptions, Innventure&#8217;s stockholders will have appraisal rights in connection with a merger or consolidation of Innventure. Pursuant to the DGCL, stockholders who properly request and perfect appraisal rights in connection with such merger or consolidation will have the right to receive payment of the fair value of their shares as determined by the Court of Chancery (the &#8220;Chancery Court&#8221;) of the State of Delaware. </div><div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 14pt; margin-left: 20pt; text-align: left;">Stockholders&#8217; Derivative Actions </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Under the DGCL, any of Innventure&#8217;s stockholders may bring an action in Innventure&#8217;s name to procure a judgment in Innventure&#8217;s favor, also known as a derivative action, provided that the stockholder bringing the action is a holder of Innventure&#8217;s shares at the time of the transaction to which the action relates or such stockholder&#8217;s stock thereafter devolved by operation of law. </div><div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 14pt; margin-left: 20pt; text-align: left;">Amendment of the A&amp;R Certificate of Incorporation </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The A&amp;R Certificate of Incorporation provides that, in addition to any other vote that may be required by law, applicable stock exchange rule or the terms of any series of preferred stock, the affirmative vote of at least two-thirds of the outstanding shares entitled to vote generally in the election of directors will be required to amend or repeal any provision thereof. The A&amp;R Certificate of Incorporation also provides that, notwithstanding the foregoing, the affirmative vote of at least a majority of the then outstanding shares entitled to vote generally in the election of directors will be required to amend or repeal the provisions thereof relating to Innventure&#8217;s name, registered address or agent, or purpose. </div><div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 14pt; margin-left: 20pt; text-align: left;">Amendment of the Bylaws </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The Bylaws provide that the Board is empowered to adopt, amend or repeal the bylaws, and further provide that the stockholders also have the power to adopt, amend or repeal the bylaws, provided that such action by the stockholders will require the affirmative vote of at least two-thirds of the voting power of the outstanding shares of Innventure entitled to vote generally in the election of directors. </div><div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 14pt; margin-left: 20pt; text-align: left;">Exclusive Forum Selection </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The A&amp;R Certificate of Incorporation provides that, unless Innventure consents in writing to the selection of an alternative forum, (a) the Chancery Court will, to the fullest extent permitted by law, be the sole and exclusive forum for (i) any derivative action, suit or proceeding brought on behalf of Innventure, (ii) any action, suit or proceeding</div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">11<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg5"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: left;">asserting a claim of breach of a fiduciary duty owed by any director, officer or stockholder of Innventure to Innventure or to Innventure&#8217;s stockholders, (iii) any action, suit or proceeding arising pursuant to any provision of the DGCL or the Bylaws or the A&amp;R Certificate of Incorporation or (iv) any action, suit or proceeding asserting a claim against Innventure governed by the internal affairs doctrine; and (b) subject to the preceding provisions, the federal district courts of the United States will be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act. If any action the subject matter of which is within the scope of clause (a) of the immediately preceding sentence is filed in a court other than the Chancery Court (a &#8220;A&amp;R Certificate of Incorporation Foreign Action&#8221;) in the name of any stockholder, such stockholder will be deemed to have consented to (x) the personal jurisdiction of the state and federal courts in the State of Delaware in connection with any action brought in any such court to enforce the provisions of clause (a) above and (y) having service of process made upon such stockholder in any such action by service upon such stockholder&#8217;s counsel in the A&amp;R Certificate of Incorporation Foreign Action as agent for such stockholder. Any person purchasing or otherwise acquiring any interest in any security of Innventure will be deemed to have notice of and consented to the foregoing exclusive forum provisions. Notwithstanding the foregoing, such provisions will not apply to suits brought to enforce any liability or duty created by the Securities Act or Exchange Act, or any other claim for which the federal courts of the United States have exclusive jurisdiction. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Limitations on Liability and Indemnification of Officers and Directors </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The A&amp;R Certificate of Incorporation contains provisions that limit the liability of Innventure&#8217;s directors and officers for monetary damages to the fullest extent permitted by Delaware law. Consequently, Innventure&#8217;s directors and officers will not be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duties as directors or officers, provided that our certificate of incorporation will not limit the liability of: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">a director or officer for any breach of their duty of loyalty to our company or our stockholder; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">a director or officer for any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">a director for unlawful payments of dividends or unlawful stock repurchases, or redemptions as provided in Section&#160;174 of the DGCL; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">a director or officer for any transaction from which they derived an improper personal benefit; or </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">an officer in any action by or in the right of Innventure. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The Bylaws provide that we will indemnify, to the fullest extent permitted by law, any person who is or was a party or is threatened to be made a party to any action, suit or proceeding, by reason of the fact that he or she is or was one of our directors or officers or is or was serving at our request as a director or officer of another corporation, partnership, joint venture, trust or other enterprise. Our Bylaws also provide that we must advance expenses incurred by or on behalf of a director or officer in advance of the final disposition of any action or proceeding, subject to very limited exceptions. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling Innventure pursuant to the foregoing provisions, we have been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The limitation of liability, advancement and indemnification provisions in the A&amp;R Certificate of Incorporation and the Bylaws may discourage stockholders from bringing a lawsuit against directors or officers for breach of their fiduciary duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might otherwise benefit Innventure and its stockholders. In addition, your investment may be adversely affected to the extent Innventure pays the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Listing </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7.5pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Our Common Stock is quoted on the Nasdaq Global Market under the symbol &#8220;INV.&#8221; </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">12<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg6"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tDD"><!--Anchor--></a>DESCRIPTION OF DEPOSITARY SHARES </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may offer depositary shares representing fractional shares of our preferred stock of any series. The following description sets forth certain general terms and provisions of the depositary shares that we may offer pursuant to this prospectus. The particular terms of the depositary shares, including the fraction of a share of preferred stock that such depositary share will represent, and the extent, if any, to which the general terms and provisions may apply to the depositary shares so offered, will be described in the applicable prospectus supplement. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The shares of preferred stock represented by depositary shares will be deposited under a depositary agreement between us and a bank or trust company that meets certain requirements and is selected by us, which we refer to as the &#8220;bank depositary.&#8221; Each owner of a depositary share will be entitled to all the rights and preferences of the shares of preferred stock represented by the depositary share. The depositary shares will be evidenced by depositary receipts issued pursuant to the depositary agreement. Depositary receipts will be distributed to those persons purchasing the fractional shares of preferred stock in accordance with the terms of the offering. The deposit agreement will also contain provisions relating to the manner in which any subscription or similar rights we offer to holders of the preferred stock will be made available to the holders of depositary shares. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The following description is a general summary of some common provisions of a depositary agreement and the related depositary receipts. The description below and in any prospectus supplement does not include all of the terms of the depositary agreement and the related depositary receipts. Copies of the form of depositary agreement and the depositary receipts relating to any particular issue of depositary shares will be filed with the SEC each time we issue depositary shares, and you should read those documents for provisions that may be important to you. For more information on how you can obtain copies of the forms of the depositary agreement and the related depositary receipts, see &#8220;<font style="font-style: italic;">Where You Can Find Additional Information</font>.&#8221; </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 20pt; text-align: left;">Dividends and Other Distributions </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">If we pay a cash distribution or dividend on a series of preferred stock represented by depositary shares, the bank depositary will distribute these dividends to the record holders of these depositary shares. If the distributions are in property other than cash, the bank depositary will distribute the property to the record holders of the depositary shares. However, if the bank depositary determines that it is not feasible to make the distribution of property, the bank depositary may, with our approval, sell this property and distribute the net proceeds from this sale to the record holders of the depositary shares. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 20pt; text-align: left;">Redemption of Depositary Shares </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">If we redeem a series of preferred stock represented by depositary shares, the bank depositary will redeem the depositary shares from the proceeds received by the bank depositary in connection with the redemption. The redemption price per depositary share will equal the applicable fraction of the redemption price per share of the preferred stock. If fewer than all the depositary shares are redeemed, the depositary shares to be redeemed will be selected by lot or pro rata as the bank depositary may determine. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 20pt; text-align: left;">Voting the Preferred Stock </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Upon receipt of notice of any meeting at which the holders of the preferred stock represented by depositary shares are entitled to vote, the bank depositary will mail the notice to the record holders of the depositary shares relating to the preferred stock. Each record holder of these depositary shares on the record date (which will be the same date as the record date for the preferred stock) may instruct the bank depositary as to how to vote the preferred stock represented by this holder&#8217;s depositary shares. The bank depositary will endeavor, insofar as practicable, to vote the amount of the preferred stock represented by such depositary shares in accordance with these instructions, and we will take all action which the bank depositary deems necessary in order to enable the bank depositary to do so. The bank 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 this preferred stock. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">13<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg7"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; margin-left: 20pt; text-align: left;">Amendment and Termination of the Depositary Agreement </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The form of depositary receipt evidencing the depositary shares and any provision of the depositary agreement may be amended by agreement between the bank depositary and us. However, any amendment that materially and adversely alters the rights of the holders of depositary shares will not be effective unless this amendment has been approved by the holders of at least a majority of the depositary shares then outstanding. The depositary agreement may be terminated by the bank depositary or us only if: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">all outstanding depositary shares have been redeemed; or </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">there has been a final distribution in respect of the preferred stock in connection with any liquidation, dissolution or winding-up of the Company and this distribution has been distributed to the holders of depositary receipts. </div></td></tr></table><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 20pt; text-align: left;">Charges of Bank Depositary </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We will pay all transfer and other taxes and governmental charges arising solely from the existence of the depositary arrangements. We will pay charges of the bank depositary in connection with the initial deposit of the preferred stock and any redemption of the preferred stock. Holders of depositary receipts will pay other transfer, tax and governmental charges and any other charges, including a fee for the withdrawal of shares of preferred stock upon surrender of depositary receipts, as are expressly provided in the depositary agreement to be for their accounts. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 20pt; text-align: left;">Withdrawal of Preferred Stock </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Except as may be provided otherwise in the applicable prospectus supplement, upon surrender of depositary receipts at the principal office of the bank depositary, subject to the terms of the depositary agreement, the owner of the depositary shares may demand delivery of the number of whole shares of preferred stock and all money and other property, if any, represented by those depositary shares. Fractional shares of preferred stock will not be issued. If the depositary receipts delivered by the holder evidence a number of depositary shares in excess of the number of depositary shares representing the number of whole shares of preferred stock to be withdrawn, the bank depositary will deliver to this holder at the same time a new depositary receipt evidencing the excess number of depositary shares. Holders of preferred stock thus withdrawn may not thereafter deposit those shares under the depositary agreement or receive depositary receipts evidencing depositary shares therefor. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 20pt; text-align: left;">Miscellaneous </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The bank depositary will forward to holders of depositary receipts all reports and communications from us that are delivered to the bank depositary and that we are required to furnish to the holders of preferred stock. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Neither the bank depositary nor we will be liable if we are prevented or delayed by law or any circumstance beyond our control in performing our obligations under the depositary agreement. The obligations of the bank depositary and us under the depositary agreement will be limited to performance in good faith of our duties thereunder, and we will not be obligated to prosecute or defend any legal proceeding in respect of any depositary shares or shares of preferred stock unless satisfactory indemnity is furnished. We may rely upon written advice of counsel or accountants, or upon information provided by persons presenting shares of preferred stock for deposit, holders of depositary receipts or other persons believed to be competent and on documents believed to be genuine. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 20pt; text-align: left;">Resignation and Removal of Bank Depositary </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The bank depositary may resign at any time by delivering to us notice of its election to do so, and we may at any time remove the bank depositary. Any such resignation or removal will take effect upon the appointment of a successor bank depositary and the successor&#8217;s acceptance of this appointment. The successor bank depositary must be appointed within 60 days after delivery of the notice of resignation or removal and must be a bank or trust company meeting the requirements of the depositary agreement. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">14<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg8"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tDW"><!--Anchor--></a>DESCRIPTION OF WARRANTS </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may issue warrants for the purchase of Common Stock, preferred stock, depositary shares, or debt securities. The following description sets forth certain general terms and provisions of the warrants that we may offer pursuant to this prospectus. The particular terms of the warrants and the extent, if any, to which the general terms and provisions may apply to the warrants so offered will be described in the applicable prospectus supplement. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Warrants may be issued independently or together with other securities and may be attached to or separate from any offered securities. Each series of warrants will be issued under a separate warrant agreement to be entered into between us and a bank or trust company, as warrant agent. The warrant agent will act solely as our agent in connection with the warrants and will not have any obligation or relationship of agency or trust for or with any holders or beneficial owners of warrants. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">A copy of the forms of the warrant agreement and the warrant certificate relating to any particular issue of warrants will be filed with the SEC each time we issue warrants, and you should read those documents for provisions that may be important to you. For more information on how you can obtain copies of the forms of the warrant agreement and the related warrant certificate, see &#8220;<font style="font-style: italic;">Where You Can Find Additional Information</font>.&#8221; </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 20pt; text-align: left;">Debt Warrants </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The prospectus supplement relating to a particular issue of warrants to issue debt securities will describe the terms of those warrants, including the following: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the title of the warrants; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the offering price for the warrants, if any; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the aggregate number of the warrants; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the designation and terms of the debt securities purchasable upon exercise of the warrants; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">if applicable, the designation and terms of the debt securities that the warrants are issued with and the number of warrants issued with each debt security; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">if applicable, the date from and after which the warrants and any debt securities issued with them will be separately transferable; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the principal amount of debt securities that may be purchased upon exercise of a warrant and the price at which the debt securities may be purchased upon exercise; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the dates on which the right to exercise the warrants will commence and expire; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">if applicable, the minimum or maximum amount of the warrants that may be exercised at any one time; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">whether the warrants represented by the warrant certificates or debt securities that may be issued upon exercise of the warrants will be issued in registered or bearer form; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">information relating to book-entry procedures, if any; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the currency or currency units in which the offering price, if any, and the exercise price are payable; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">if applicable, a discussion of material U.S. federal income tax considerations; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">anti-dilution provisions of the warrants, if any; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">redemption or call provisions, if any, applicable to the warrants; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any additional terms of the warrants, including terms, procedures and limitations relating to the exchange and exercise of the warrants; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any other information we think is important about the warrants. </div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">15<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg9"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; margin-left: 20pt; text-align: left;">Stock and Depositary Share Warrants </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The prospectus supplement relating to a particular issue of warrants to issue Common Stock, preferred stock or depositary shares will describe the terms of the common stock warrants, preferred stock warrants and depositary share warrants, including the following: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the title of the warrants; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the offering price for the warrants, if any; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the aggregate number of the warrants; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the designation and terms of the Common Stock, preferred stock or depositary shares purchasable upon exercise of the warrants; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">if applicable, the designation and terms of the securities that the warrants are issued with and the number of warrants issued with each security; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">if applicable, the date from and after which the warrants and any securities issued with the warrants will be separately transferable; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the number of shares of Common Stock, preferred stock or depositary shares that may be purchased upon exercise of a warrant and the price at which the shares may be purchased upon exercise; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the dates on which the right to exercise the warrants will commence and expire; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">if applicable, the minimum or maximum amount of the warrants that may be exercised at any one time; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the currency or currency units in which the offering price, if any, and the exercise price are payable; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">if applicable, a discussion of material U.S. federal income tax considerations; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">anti-dilution provisions of the warrants, if any; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">redemption or call provisions, if any, applicable to the warrants; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any additional terms of the warrants, including terms, procedures and limitations relating to the exchange and exercise of the warrants; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any other information we think is important about the warrants. </div></td></tr></table><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Exercise of Warrants </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Each warrant will entitle the holder of the warrant to purchase at the exercise price set forth in the applicable prospectus supplement the number of shares of Common Stock, preferred stock or depositary shares or the principal amount of debt securities being offered. Holders may exercise warrants at any time up to the close of business on the expiration date set forth in the applicable prospectus supplement. After the close of business on the expiration date, unexercised warrants are void. Holders may exercise warrants as set forth in the prospectus supplement relating to the warrants being offered. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Until a holder exercises the warrants to purchase our Common Stock, preferred stock, depositary shares or debt securities, the holder will not have any rights as a holder of our Common Stock, preferred stock, depositary shares or debt securities, as the case may be, by virtue of ownership of warrants. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">16<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg10"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tDS"><!--Anchor--></a>DESCRIPTION OF SUBSCRIPTION RIGHTS </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may issue to our securityholders subscription rights to purchase our Common Stock, preferred stock, depositary shares or debt securities. The following description sets forth certain general terms and provisions of the subscription rights that we may offer pursuant to this prospectus. The particular terms of the subscription rights and the extent, if any, to which the general terms and provisions may apply to the subscription rights so offered will be described in the applicable prospectus supplement. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Subscription rights may be issued independently or together with any other security offered by this prospectus and may or may not be transferable by the securityholder receiving the rights in the rights offering. In connection with any rights offering, we may enter into a standby underwriting agreement with one or more underwriters pursuant to which the underwriter will purchase any securities that remain unsubscribed for upon completion of the rights offering, or offer these securities to other parties who are not our securityholders. A copy of the form of subscription rights certificate will be filed with the SEC each time we issue subscription rights, and you should read that document for provisions that may be important to you. For more information on how you can obtain a copy of any subscription rights certificate, see &#8220;<font style="font-style: italic;">Where You Can Find Additional Information</font>.&#8221; </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The applicable prospectus supplement relating to any subscription rights will describe the terms of the offered subscription rights, including, where applicable, the following: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the exercise price for the subscription rights; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the number of subscription rights issued to each securityholder; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the extent to which the subscription rights are transferable; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any other terms of the subscription rights, including terms, procedures and limitations relating to the exchange and exercise of the subscription rights; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the date on which the right to exercise the subscription rights will commence and the date on which the right will expire; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the extent to which the subscription rights include an over-subscription privilege with respect to unsubscribed securities; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the material terms of any standby underwriting arrangement entered into by us in connection with the subscription rights offering. </div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">17<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg11"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tDDS"><!--Anchor--></a>DESCRIPTION OF DEBT SECURITIES </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The following description sets forth certain general terms and provisions of the debt securities that we may issue, which may be issued as convertible or exchangeable debt securities. We will set forth the particular terms of the debt securities we offer in a prospectus supplement and the extent, if any, to which the following general terms and provisions will apply to particular debt securities. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The debt securities will be issued under an indenture to be entered into between us and a trustee to be named in a prospectus supplement. The indenture, and any supplemental indentures thereto, will be subject to, and governed by, the Trust Indenture Act of 1939, as amended. The following description of general terms and provisions relating to the debt securities and the indenture under which the debt securities will be issued is a summary only and therefore is not complete and is subject to, and qualified in its entirety by reference to, the terms and provisions of the indenture. The form of the indenture has been filed with the SEC as an exhibit to the registration statement of which this prospectus forms a part, and you should read the indenture for provisions that may be important to you. For more information on how you can obtain a copy of the form of the indenture, see &#8220;<font style="font-style: italic;">Where You Can Find Additional Information</font>.&#8221; </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Capitalized terms used in this section and not defined herein have the meanings specified in the indenture. When we refer to &#8220;we,&#8221; &#8220;our&#8221; and &#8220;us&#8221; in this section, we mean Innventure, Inc. excluding, unless the context otherwise requires or as otherwise expressly stated, its subsidiaries. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">General </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Unless otherwise specified in a prospectus supplement, the debt securities will be our direct, unsecured obligations and will rank equally with all of our existing and future senior unsecured indebtedness and senior in right of payment to all of our subordinated indebtedness. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The indenture will not limit the aggregate principal amount of debt securities that may be issued under it and will provide that debt securities may be issued under it from time to time in one or more series. We may specify a maximum aggregate principal amount for the debt securities of any series. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Unless otherwise specified in the applicable prospectus supplement, the indenture will not afford the holders of the debt securities the right to require us to repurchase or redeem the debt securities in the event of a highly-leveraged transaction. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We will not be obligated to issue all debt securities of one series at the same time and, unless otherwise provided in the applicable prospectus supplement, we may reopen a series, without the consent of the holders of the outstanding debt securities of that series, for the issuance of additional debt securities of that series. Additional debt securities of a particular series will have the same terms and conditions as outstanding debt securities of such series, except for the issue date and, in some cases, the public offering price and the first interest payment date, and will be consolidated with, and form a single series with, such outstanding debt securities; provided, however, that if such additional debt securities are not fungible with the outstanding debt securities of such series for U.S. federal income tax purposes, the additional debt securities will have a separate CUSIP number. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We will set forth in a prospectus supplement relating to any debt securities being offered, the aggregate principal amount and the following terms of the debt securities, if applicable: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the title of debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the price or prices (expressed as a percentage of the principal amount) at which the debt securities will be issued; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any limit on the aggregate principal amount of the series of debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">whether the debt securities will be senior debt securities or subordinated debt securities, and if they are subordinated debt securities, the terms of the subordination; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the date or dates on which the principal on the series of debt securities is payable; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the rate or rates (which may be fixed or variable) per annum or the method used to determine such rate or rates (including any commodity, commodity index, stock exchange index or financial index) at which the </div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">18<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg12"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_bl" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 40pt; text-align: left;">series of debt securities will bear interest, if any, the date or dates from which such interest, if any, will accrue, the date or dates on which such interest, if any, will commence and be payable and any regular record date for the interest payable on any interest payment date; </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the right, if any, to extend the interest periods and the duration of that extension; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the place or places where the principal of, and premium and interest, if any, on, the debt securities will be payable; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the terms and conditions upon which the debt securities may be redeemed; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any obligation we may have to redeem or purchase the debt securities pursuant to any sinking fund or analogous provisions or at the option of a holder of the debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the dates on which and the price or prices at which we will repurchase the debt securities at the option of the holders of the debt securities and other detailed terms and provisions of such repurchase obligations; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the denominations in which the debt securities will be issued, if other than denominations of $2,000 and integral multiples of $1,000 in excess thereof; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">whether the debt securities will be issued in the form of certificated debt securities or global debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the portion of principal amount of the debt securities payable upon declaration of acceleration of the maturity date, if other than the principal amount; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the designation of the currency, currencies or currency units in which payment of principal of, and premium and interest, if any, on, the debt securities will be made if other than U.S. dollars; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any provisions relating to any security provided for the debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any addition to or change in the events of default described in this prospectus or in the indenture and any change in the acceleration provisions described in this prospectus or in the indenture with respect to the debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any addition to, or change in, the covenants described in this prospectus or in the indenture with respect to the debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any other terms of the debt securities (which may supplement, modify or delete any provision of the indenture as it applies to such debt securities); </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to the series of debt securities, if other than those, if any, appointed in the indenture; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any provisions relating to conversion of the debt securities. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The foregoing is not intended to be an exclusive list of the terms that may be applicable to any offered debt securities. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">In addition, the indenture will not limit our ability to issue convertible, exchangeable or subordinated debt securities. Any conversion, exchange or subordination provisions of debt securities will be described in the relevant prospectus supplement. Such terms may include provisions for conversion or exchange, either mandatory, at the option of the holder or at our option, in which case the number of shares of Common Stock or other securities to be received by the holders of debt securities would be calculated as of a time and in the manner stated in the prospectus supplement. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may issue debt securities that provide for an amount less than their stated principal amount to be due and payable upon declaration of acceleration of their maturity pursuant to the terms of the indenture. We will provide you with information on the U.S. federal income tax considerations and other special considerations applicable to any of these debt securities in the applicable prospectus supplement. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">If we denominate the purchase price of any of the debt securities in a foreign currency or currencies or a foreign currency unit or units, or if the principal of, and any premium and interest on, any series of debt securities is payable in a foreign currency or currencies or a foreign currency unit or units, we will provide you with information on the restrictions, elections, general tax considerations, specific terms and other information with respect to that issue of debt securities and such foreign currency or currencies or foreign currency unit or units in the applicable prospectus supplement. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">19<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg13"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; margin-left: 0pt; text-align: left;">Exchange and Transfer </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Debt securities may be transferred or exchanged at the office of the registrar or co-registrar designated by us. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We will not impose a service charge for any transfer or exchange, but we may require holders to pay any tax or other governmental charges associated with any transfer or exchange. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">In the event of any redemption of debt securities of any series, we will not be required to: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">issue, register the transfer of, or exchange any debt security of that series during a period beginning at the opening of 15 business days before the day of sending of a notice of redemption and ending at the close of business on the day such notice is sent; or </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">register the transfer of or exchange any debt security of that series selected, called or being called for redemption, in whole or in part, except the unredeemed portion of any series being redeemed in part. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may initially appoint the trustee as the registrar. Any transfer agent, in addition to the registrar initially designated by us, will be named in the prospectus supplement. We may designate additional transfer agents or change transfer agents or change the office of the transfer agent. However, we will be required to maintain a transfer agent in each place of payment for the debt securities of each series. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-left: 0pt; text-align: left;">Global Securities </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The debt securities of any series may be represented, in whole or in part, by one or more global securities. Each global security will: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">be registered in the name of a depositary that we will identify in a prospectus supplement; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">be deposited with the trustee as custodian for the depositary or its nominee; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">bear any required legends. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">No global security may be exchanged in whole or in part for debt securities registered in the name of any person other than the depositary or any nominee unless: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the depositary has notified us that it is unwilling or unable to continue as depositary or has ceased to be qualified to act as depositary, and in either case we fail to appoint a successor depositary registered as a clearing agency under the Exchange Act within 90 days of such event; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">we execute and deliver to the trustee an officer&#8217;s certificate to the effect that such global securities shall be so exchangeable; or </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">an event of default with respect to the debt securities represented by such global securities shall have occurred and be continuing. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">As long as the depositary, or its nominee, is the registered owner of a global security, the depositary or nominee will be considered the sole owner and holder of the debt securities represented by the global security for all purposes under the indenture. Except in the above limited circumstances, owners of beneficial interests in a global security: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">will not be entitled to have the debt securities registered in their names; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">will not be entitled to physical delivery of certificated debt securities; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">will not be considered to be holders of those debt securities under the indenture. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Payments on a global security will be made to the depositary or its nominee as the holder of the global security. Some jurisdictions have laws that require that certain purchasers of securities take physical delivery of such securities in definitive form. These laws may impair the ability to transfer beneficial interests in a global security. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Institutions that have accounts with the depositary or its nominee are referred to as &#8220;participants.&#8221; Ownership of beneficial interests in a global security will be limited to participants and to persons that may hold beneficial interests through participants. The depositary will credit, on its book-entry registration and transfer system, the respective principal amounts of debt securities represented by the global security to the accounts of its participants. Each person owning a beneficial interest in a global security must rely on the procedures of the depositary (and, if such person is not a participant, on procedures of the participant through which such person owns its interest) to exercise any rights of a holder under the indenture. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">20<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg14"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Ownership of beneficial interests in a global security will be shown on and effected through records maintained by the depositary, with respect to participants&#8217; interests, or by any participant, with respect to interests of persons held by participants on their behalf. Payments, transfers and exchanges relating to beneficial interests in a global security will be subject to policies and procedures of the depositary. The depositary&#8217;s policies and procedures may change from time to time. Neither we nor the trustee will have any responsibility or liability for the depositary&#8217;s acts or omissions or any participant&#8217;s records with respect to beneficial interests in a global security. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 12pt; margin-left: 0pt; text-align: left;">Payment and Paying Agent </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The provisions of this subsection will apply to the debt securities unless otherwise indicated in the prospectus supplement. Payment of interest on a debt security on any interest payment date will be made to the person in whose name the debt security is registered at the close of business on the regular record date. Payment on debt securities of a particular series will be payable at the office of a paying agent or paying agents designated by us. However, at our option, we may pay interest by mailing a check to the record holder. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may also name any other paying agents in the prospectus supplement. We may designate additional paying agents, change paying agents or change the office of any paying agent. However, we will be required to maintain a paying agent in each place of payment for the debt securities of a particular series. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Subject to any applicable abandoned property law, all monies paid by us to a paying agent for payment on any debt security that remain unclaimed at the end of two years after such payment was due will be repaid to us. Thereafter, the holder may look only to us for such payment. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 12pt; margin-left: 0pt; text-align: left;">Consolidation, Merger and Sale of Assets </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Except as otherwise set forth in the applicable prospectus supplement, we may not merge or consolidate with or into any other person, in a transaction in which we are not the surviving corporation, or sell, convey, transfer, lease or otherwise dispose of all or substantially all of the properties and assets of us and our subsidiaries, taken as a whole, to any person, unless: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the successor or transferee is a U.S. corporation, limited liability company, partnership, trust or other entity; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the successor or transferee assumes our obligations on the debt securities and under the indenture pursuant to a supplemental indenture in form reasonably satisfactory to the trustee; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">immediately after giving effect to the transaction and treating our obligations in connection with or as a result of such transaction as having been incurred as of the time of such transaction, no default or event of default under the indenture shall have occurred and be continuing; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">an officer&#8217;s certificate and an opinion of counsel have been delivered to the trustee in connection with the foregoing. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">In the event of the above transaction, if there is a successor or transferee, then the successor or transferee will expressly assume all of our obligations under the indenture and automatically be substituted for us in the indenture and as issuer of the debt securities and may exercise every right and power of ours under the indenture with the same effect as if such successor or transferee had been named in our place in the indenture; provided, however, that the predecessor company will not be relieved of the obligation to pay principal and interest on the debt securities except in the case of a sale of all of the assets of us and our subsidiaries. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 12pt; margin-left: 0pt; text-align: left;">Events of Default </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Event of default means, with respect to any series of debt securities, any of the following: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">default in the payment of any interest on any debt security of that series when it becomes due and payable, and continuance of that default for a period of 30 days; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">default in the payment of principal of, or premium on, any debt security of that series when due and payable; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">failure on our part to comply with the covenant described under &#8220;&#8212;Consolidation, Merger and Sale of Assets&#8221;; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">default in the performance or breach of any other covenant or warranty by us in the indenture or any supplemental indenture with respect to such series (other than a covenant or warranty that has been </div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">21<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg15"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_bl" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 40pt; text-align: left;">included in the indenture or supplemental indenture solely for the benefit of a series of debt securities other than that series), which default continues uncured for a period of 90 days after (1) we receive written notice from the trustee or (2) we and the trustee receive written notice from the holders of not less than 25% in aggregate principal amount of the outstanding debt securities of that series as provided in the indenture; </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">certain events of bankruptcy, insolvency or reorganization of our company or our significant subsidiaries; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any other event of default provided with respect to debt securities of that series that is described in the applicable prospectus supplement. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We will promptly deliver to the trustee written notice of any event which with the giving of notice and the lapse of time would become a covenant event of default, or any other event of default provided with respect to debt securities of that series that is described in the applicable prospectus supplement, along with a description of the status and what action we are taking or propose to take with respect to such event of default. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">No event of default with respect to a particular series of debt securities (except as to certain events of bankruptcy, insolvency or reorganization) necessarily constitutes an event of default with respect to any other series of debt securities. The occurrence of an event of default may constitute an event of default under our bank credit agreements in existence from time to time. In addition, the occurrence of certain events of default or an acceleration under the indenture may constitute an event of default under certain of our other indebtedness outstanding from time to time. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">If an event of default (other than an event of default resulting from certain events of bankruptcy, insolvency or reorganization of our company) with respect to debt securities of any series at the time outstanding occurs and is continuing, then the trustee or the holders of not less than 25% in aggregate principal amount of the outstanding debt securities of that series may, by a notice in writing to us (and to the trustee if given by the holders), declare to be due and payable immediately 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, and accrued and unpaid interest, if any, on all debt securities of that series. In the case of an event of default resulting from certain events of bankruptcy, insolvency or reorganization of our company, the principal (or such specified amount) of and accrued and unpaid interest, if any, on all outstanding debt securities will become and be immediately due and payable without any declaration or other act on the part of the trustee or any holder of outstanding debt securities. At any time after a declaration of acceleration with respect to debt securities of any series has been made, the holders of a majority in aggregate principal amount of the outstanding debt securities of that series may rescind and annul the acceleration if the rescission and annulment would not conflict with any judgment or decree already rendered and if all events of default with respect to that series, other than the non-payment of principal and interest, if any, with respect to debt securities of that series that has become due and payable solely because of the acceleration, have been cured or waived and all sums paid or advanced by the trustee and the reasonable compensation, expenses and disbursements of the trustee and its agents and counsel have been paid as provided in the indenture. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The indenture will provide that the trustee will be under no obligation to exercise any of its rights or powers under the indenture at the request of any holder of outstanding debt securities, unless the trustee receives security or indemnity satisfactory to the trustee against any loss, liability or expense. 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. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">No holder of any debt security of any series will have any right to 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: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">that holder has previously given to the trustee written notice of a continuing event of default with respect to debt securities of that series; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the holders of at least 25% in aggregate principal amount of the outstanding debt securities of that series have made written request, and offered security or indemnity satisfactory to the trustee, to institute the proceeding as trustee, and the trustee has not received from the holders of a majority in aggregate principal amount of the outstanding debt securities of that series a direction inconsistent with that request and has failed to institute the proceeding within 60 days. </div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">22<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg16"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Notwithstanding the foregoing, the holder of any debt security will have an absolute and unconditional right to receive payment of the principal of, and 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 such payment. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The indenture will require us, within 120 days after the end of our fiscal year, to furnish to the trustee a statement as to compliance with the indenture. The indenture will provide that the trustee may withhold notice to the holders of debt securities of any series of any default or event of default (except in payment on any debt securities of that series) with respect to debt securities of that series if it in good faith determines that withholding notice is in the interest of the holders of those debt securities. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20pt; margin-left: 0pt; text-align: left;">Modification and Waiver </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may amend or modify the indenture without the consent of any holder of debt securities of the series affected by the modifications or amendments in order to: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">cure any ambiguity, defect or inconsistency; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">conform the text of the indenture, including any supplemental indenture, or the debt securities to any corresponding provision of this &#8220;<font style="font-style: italic;">Description of Debt Securities</font>&#8221; or description of the debt securities found in the prospectus supplement as evidenced by an officer&#8217;s certificate; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">provide for the issuance of additional debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">provide for the assumption of our obligations in the case of a merger or consolidation and our discharge upon such assumption provided that the provision under &#8220;Merger, Consolidation, or Sale of Assets&#8221; of the indenture is complied with; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">add covenants or make any change that would provide any additional rights or benefits to the holders of the debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">add guarantees with respect to the debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">provide for uncertificated debt securities in addition to or in place of certificated debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">secure the debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">add or appoint a successor or separate trustee; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">make any change that does not adversely affect the rights of any holder of debt securities in any material respect, as evidenced by an officer&#8217;s certificate; or </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">obtain or maintain the qualification of the indenture under the Trust Indenture Act of 1939, as amended. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Other amendments and modifications of the indenture or the debt securities issued may be made with the consent of the holders of at least a majority of the aggregate principal amount of the outstanding debt securities of the affected series, and our compliance with any provision of the indenture with respect to the debt securities may be waived by written notice to the trustee by the holders of a majority of the aggregate principal amount of the outstanding debt securities of the affected series. However, no modification or amendment may, without the consent of the holder of each outstanding debt security of the affected series: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">reduce the principal amount or any premium or change the stated maturity of any debt security or alter or waive any of the provisions with respect to the redemption or repurchase of the debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">change the place of payment or currency in which principal, any premium or interest is paid; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">impair the right to institute suit for the enforcement of any payment on the debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">waive a payment default with respect to the debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">reduce the interest rate or extend the time for payment of interest on the debt securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">make any change to the amendment and modification provisions in the indenture; or </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">reduce the percentage in principal amount outstanding of debt securities, the consent of the holders of which is required for any of the foregoing modifications or otherwise necessary to modify, supplement or amend the indenture or to waive any past default. </div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">23<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg17"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Except for certain specified provisions, the holders of at least a majority in principal amount of the outstanding debt securities of an affected series may, on behalf of the holders of all debt securities of such series, waive our compliance with provisions of the indenture. Prior to the acceleration of the maturity of the debt securities of any series pursuant to the terms of the indenture, the holders of a majority in aggregate principal amount of the outstanding debt securities of such series may, on behalf of the holders of all the debt securities of such series, waive any past default under the indenture with respect to such debt securities and its consequences, except (i) a default with respect to such series in the payment of the principal of, or premium or any interest on, the debt securities of such series or (ii) a default or event of default in respect of a covenant or provision that cannot be modified or amended without the consent of all of the holders of the outstanding debt securities of the affected series. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Defeasance of Debt Securities and Certain Covenants in Certain Circumstances </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Legal Defeasance<font style="font-style: normal;">. The indenture will provide that, in certain circumstances, we may be discharged from any and all obligations in respect of the debt securities of any series (except for certain obligations to register the transfer or exchange of debt securities, to replace stolen, lost or mutilated debt securities, and to maintain paying agencies and certain provisions relating to the treatment of funds held by paying agents). We will be so discharged upon the deposit with the trustee, in trust, of money and/or U.S. government obligations that, through the payment of interest and principal in accordance with their terms, will provide money in an amount sufficient in the written opinion of a nationally recognized firm of independent public accountants, a nationally recognized investment bank or a nationally recognized appraisal firm to pay and discharge each installment of principal, premium and interest in accordance with the terms of the indenture and the debt securities of that series. </font></div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">This discharge may occur only if, among other things, we have delivered to the trustee an opinion of counsel stating that we have received from, or there has been published by, the United States 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 such opinion shall confirm that, the beneficial owners of the debt securities of the applicable series will not recognize income, gain or loss for U.S. federal income tax purposes as a result of the deposit, defeasance and discharge 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 the deposit, defeasance and discharge had not occurred. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Defeasance of Certain Covenants<font style="font-style: normal;">. The indenture will provide that, upon compliance with certain conditions, we may be released from our obligation to comply with certain covenants set forth in the indenture and any supplemental indenture, and any failure to comply with those covenants will not constitute a default or an event of default with respect to the debt securities of the applicable series, or covenant defeasance. If we exercise our covenant defeasance option with respect to a series of debt securities, payment of such debt securities may not be accelerated because of an event of default related to certain events of bankruptcy, insolvency or reorganization of our significant subsidiaries. </font></div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The conditions include: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">depositing with the trustee money and/or U.S. government obligations that, through the payment of interest and principal in accordance with their terms, will provide money in an amount sufficient in the written opinion of a nationally recognized firm of independent public accountants, a nationally recognized investment bank or a nationally recognized appraisal firm to pay and discharge each installment of principal of, premium and interest in accordance with the terms of the indenture and the debt securities of the applicable series; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">delivering to the trustee an opinion of counsel to the effect that the beneficial owners of the debt securities of the applicable series will not recognize income, gain or loss for U.S. federal income tax purposes as a result of the deposit and related covenant 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 the deposit and related covenant defeasance had not occurred. </div></td></tr></table><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20pt; margin-left: 0pt; text-align: left;">Governing Law </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The indenture and the debt securities will be governed by, and construed in accordance with, the internal laws of the State of New York. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">24<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg18"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tDPC"><!--Anchor--></a>DESCRIPTION OF PURCHASE CONTRACTS </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may issue purchase contracts, including contracts obligating holders to purchase from us, and obligating us to sell to the holders, a specified number of shares of Common Stock or other securities at a future date or dates. The price per security of the securities and the number of securities may be fixed at the time the purchase contracts are issued or may be determined by reference to a specific formula set forth in the purchase contracts. The purchase contracts also may require us to make periodic payments to the holders of the purchase contracts, or vice versa, and those payments may be unsecured or refunded on some basis. The purchase contracts may require holders to secure their obligations thereunder in a specified manner and may provide for the prepayment of all or part of the consideration payable by holders in connection with the purchase of the underlying security or other property pursuant to the purchase contracts. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The securities related to the purchase contracts may be pledged to a collateral agent for our benefit pursuant to a pledge agreement to secure the obligations of holders of purchase contracts to purchase the underlying security or property under the related purchase contracts. The rights of holders of purchase contracts to the related pledged securities will be subject to our security interest therein created by the pledge agreement. No holder of purchase contracts will be permitted to withdraw the pledged securities related to such purchase contracts from the pledge arrangement. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The prospectus supplement relating to any particular issuance of purchase contracts will describe the terms of the purchase contracts. The description in the prospectus supplement will not necessarily be complete, and reference will be made to the purchase contracts, and, if applicable, collateral or depositary arrangements, relating to the purchase contracts, which will be filed with the SEC each time we issue purchase contracts. U.S. federal income tax considerations applicable to the purchase contracts will also be discussed in the prospectus supplement. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">25<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_108-desc_pg19"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tDOU"><!--Anchor--></a>DESCRIPTION OF UNITS </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may issue units comprising one or more securities described in this prospectus in any combination. The following description sets forth certain general terms and provisions of the units that we may offer pursuant to this prospectus. The particular terms of the units and the extent, if any, to which the general terms and provisions may apply to the units so offered will be described in the applicable prospectus supplement. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Each unit will be issued so that the holder of the unit also is the holder of each security included in the unit. Thus, the unit will have the rights and obligations of a holder of each included security. Units will be issued pursuant to the terms of a unit agreement, which may provide that the securities included in the unit may not be held or transferred separately at any time or at any time before a specified date. A copy of the forms of the unit agreement and the unit certificate relating to any particular issue of units will be filed with the SEC each time we issue units, and you should read those documents for provisions that may be important to you. For more information on how you can obtain copies of the forms of the unit agreement and the related unit certificate, see &#8220;<font style="font-style: italic;">Where You Can Find Additional Information</font>.&#8221; </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The prospectus supplement relating to any particular issuance of units will describe the terms of those units, including, to the extent applicable, the following: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the designation and terms of the units and the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any provision for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">whether the units will be issued in fully registered or global form. </div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">26<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_109-plan_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tPOD"><!--Anchor--></a>PLAN OF DISTRIBUTION </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may sell the offered securities in and outside the United States: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">through underwriters or dealers; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">directly to purchasers; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">in a rights offering; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">in &#8220;at the market&#8221; offerings, within the meaning of Rule&#160;415(a)(4) of the Securities Act, to or through a market maker or into an existing trading market on an exchange or otherwise; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">through agents; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">through a combination of any of these methods; or </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">through any other method permitted pursuant to applicable law. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Any applicable prospectus supplement will include the following information: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the terms of the offering; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the names of any underwriters or agents; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the name or names of any managing underwriter or underwriters; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the purchase price or initial public offering price of the securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the net proceeds from the sale of the securities; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any delayed delivery arrangements; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any underwriting discounts, commissions and other items constituting underwriters&#8217; compensation; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any discounts or concessions allowed or reallowed or paid to dealers; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any commissions paid to agents. </div></td></tr></table><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-left: 0pt; text-align: left;">Sale through Underwriters or Dealers </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">If underwriters are used in the sale, the underwriters will acquire the securities for their own account. The underwriters may resell the securities 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. Underwriters may offer the securities to the public either through underwriting syndicates represented by one or more managing underwriters or directly by one or more firms acting as underwriters. Unless we inform you otherwise in any applicable prospectus supplement, the obligations of the underwriters to purchase the securities will be subject to certain conditions, and the underwriters will be obligated to purchase all the offered securities if they purchase any of them. The underwriters may change from time to time any initial public offering price and any discounts or concessions allowed or reallowed or paid to dealers. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">If we offer securities in a subscription rights offering to our existing security holders, we may enter into a standby underwriting agreement with dealers, acting as standby underwriters. We may pay the standby underwriters a commitment fee for the securities they commit to purchase on a standby basis. If we do not enter into a standby underwriting agreement, we may retain a dealer-manager to manage a subscription rights offering for us. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">During and after an offering through underwriters, the underwriters may purchase and sell the securities in the open market. These transactions may include over-allotment and stabilizing transactions and purchases to cover syndicate short positions created in connection with the offering. The underwriters may also impose a penalty bid, which means that selling concessions allowed to syndicate members or other broker-dealers for the offered securities sold for their account may be reclaimed by the syndicate if the offered securities are repurchased by the syndicate in stabilizing or covering transactions. These activities may stabilize, maintain or otherwise affect the market price of the offered securities, which may be higher than the price that might otherwise prevail in the open market. If commenced, the underwriters may discontinue these activities at any time. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Some or all of the securities that we offer though this prospectus may be new issues of securities with no established trading market. Certain underwriters may use this prospectus and any accompanying prospectus </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">27<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_109-plan_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: left;">supplement for offers and sales related to market-making transactions in the securities. Any underwriters to whom we sell our securities for public offering and sale may make a market in those securities, but they will not be obligated to do so and they may discontinue any market making at any time without notice. Accordingly, we cannot assure you of the liquidity of, or continued trading markets for, any securities that we offer. These underwriters may act as principal or agent in these transactions, and the sales will be made at prices related to prevailing market prices at the time of sale. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">If dealers are used in the sale of the securities, we will sell the securities to them as principals. They may then resell the securities to the public at varying prices determined by the dealers at the time of resale. We will include in any applicable prospectus supplement the names of the dealers and the terms of the transaction. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Direct Sales and Sales through Agents </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may sell the securities directly. In this case, no underwriters or agents would be involved. We may also sell the securities through agents designated from time to time. In any applicable prospectus supplement, we will name any agent involved in the offer or sale of the offered securities and we will describe any commissions payable to the agent. Unless we inform you otherwise in any applicable prospectus supplement, any agent will agree to use its reasonable best efforts to solicit purchases for the period of its appointment. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may sell the securities directly to institutional investors or others who may be deemed to be underwriters within the meaning of the Securities Act with respect to any sale of those securities. We will describe the terms of any sales of these securities in any applicable prospectus supplement. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Remarketing Arrangements </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Offered securities may also be offered and sold, if so indicated in any applicable prospectus supplement, in connection with a remarketing upon their purchase, in accordance with a redemption or repayment pursuant to their terms, or otherwise, by one or more remarketing firms, acting as principals for their own accounts or as agents for us. Any remarketing firm will be identified and the terms of its agreements, if any, with us and its compensation will be described in any applicable prospectus supplement. Remarketing firms may be deemed to be underwriters in connection with the securities they remarket. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Delayed Delivery Contracts </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">If we so indicate in any applicable prospectus supplement, we may authorize agents, underwriters or dealers to solicit offers from certain types of institutions to purchase securities from us at the public offering price under delayed delivery contracts. These contracts would provide for payment and delivery on a specified date in the future. The contracts would be subject only to those conditions described in any applicable prospectus supplement. Any applicable prospectus supplement will describe the commission payable for solicitation of those contracts. </div><div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">General Information </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may have agreements with the agents, dealers, underwriters and remarketing firms to indemnify them against certain civil liabilities, including liabilities under the Securities Act, or to contribute with respect to payments that the agents, dealers, underwriters or remarketing firms may be required to make. Agents, dealers, underwriters and remarketing firms may be customers of, engage in transactions with or perform other services for us in the ordinary course of their businesses. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">28<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_110-legal_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tLM"><!--Anchor--></a>LEGAL MATTERS </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Jones Day will pass upon certain legal matters for us in connection with the securities offered hereby. Any underwriters may be advised about legal matters by their own counsel, who will be named in the applicable prospectus supplement. </div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; text-align: center;"><a name="tEX"><!--Anchor--></a>EXPERTS </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The consolidated financial statements of Innventure, Inc. (the &#8220;Company&#8221;) as of December&#160;31, 2024 (&#8220;Successor&#8221;) and 2023 (&#8220;Predecessor&#8221;) and for the period from October&#160;2, 2024 to December&#160;31, 2024 (&#8220;Successor&#8221;) and the periods from January&#160;1, 2024 to October&#160;1, 2024 (&#8220;Predecessor&#8221;) and for the year ended December&#160;31, 2023 (&#8220;Predecessor&#8221;), incorporated by reference in this Prospectus and in the Registration Statement have been so incorporated in reliance on the report of BDO USA, P.C., an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. The report on the consolidated financial statements contains an explanatory paragraph regarding the Company&#8217;s ability to continue as a going concern. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">29<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; position: relative; width: 468pt;"><a name="ny20061800x1_s3_300-part2_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">PART II <br></div><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">INFORMATION NOT REQUIRED IN PROSPECTUS </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt;"><tr><td style="width: 50pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item&#160;14.<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">Other Expenses of Issuance and Distribution. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The following table sets forth the expenses in connection with the securities being registered. All amounts of such expenses are presently not known and cannot be estimated, other than the SEC filing fee. </div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> </div><table cellspacing="0" cellpadding="0" class="BRDSX_fintab" style="width: 468pt; margin-left: auto; margin-right: auto;"><tr class="BRDSX_boxspacer"><td style="height: 6pt; width: 396pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 4.12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 4.12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 63.76pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr><tr class="BRDSX_header"><td style="width: 396pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td><td style="width: 4.12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 4.12pt; border-bottom: none;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 63.76pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Amount to be paid </div></td></tr><tr><td style="width: 396pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">SEC registration statement filing fee<font style="padding-left: 2.43pt;"></font></div></td><td style="width: 4.12pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 4.12pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 63.76pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.38pt; text-align: left;">$<font style="padding-left: 2.5pt;">&#8203;27,620 </font></div></td></tr><tr><td style="width: 396pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Legal fees and expenses<font style="padding-left: 1.6pt;"></font></div></td><td style="width: 4.12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 4.12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 63.76pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.38pt; text-align: left;"><font style="padding-left: 5pt;">&#8195;&#8195;&#8195;</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup> </div></td></tr><tr><td style="width: 396pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Accounting fees and expenses<font style="padding-left: 2.71pt;"></font></div></td><td style="width: 4.12pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 4.12pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 63.76pt; padding-top: 1.1pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 7.5pt; margin-top: 0pt; margin-left: 14.38pt; text-align: left;"><font style="padding-left: 35pt; position: relative; top: -4.25pt;">(1)</font><font style="font-size: 10pt;"> </font></div></td></tr><tr><td style="width: 396pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Transfer agent fees and expenses<font style="padding-left: 1.69pt;"></font></div></td><td style="width: 4.12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 4.12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 63.76pt; padding-top: 1.1pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 7.5pt; margin-top: 0pt; margin-left: 14.38pt; text-align: left;"><font style="padding-left: 35pt; position: relative; top: -4.25pt;">(1)</font><font style="font-size: 10pt;"> </font></div></td></tr><tr><td style="width: 396pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Printing fees and miscellaneous expenses<font style="padding-left: 3pt;"></font></div></td><td style="width: 4.12pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 4.12pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 63.76pt; padding-top: 1.1pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 7.5pt; margin-top: 0pt; margin-left: 14.38pt; text-align: left;"><font style="padding-left: 35pt; position: relative; top: -4.25pt;">(1)</font><font style="font-size: 10pt;"> </font></div></td></tr><tr><td style="width: 396pt; padding-top: 1.01pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Total<font style="padding-left: 3.09pt;"></font></div></td><td style="width: 4.12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 4.12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 63.76pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.38pt; text-align: left;">$&#8195;&#8195;&#8195;<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div></td></tr><tr class="BRDSX_boxspacer"><td style="height: 2.75pt; width: 396pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 4.12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 4.12pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 63.76pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr></table><div><div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 0pt; margin-top: 8.25pt;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(1)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">Amounts of expenses are presently not known and cannot be estimated. </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt;"><tr><td style="width: 50pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item&#160;15.<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">Indemnification of Directors and Officers. </div></td></tr></table><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Section&#160;145(a) of the DGCL provides, in general, that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation), because he or she is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding, if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Section&#160;145(b) of the DGCL provides, in general, that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor because the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&#8217; fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, except that no indemnification shall be made with respect to any claim, issue or matter as to which he or she shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or other adjudicating court determines that, despite the adjudication of liability but in view of all of the circumstances of the case, he or she is fairly and reasonably entitled to indemnity for such expenses that the Court of Chancery or other adjudicating court shall deem proper. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Section&#160;145(g) of the DGCL provides, in general, that a corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of his or her status as such, whether or not the corporation would have the power to indemnify the person against such liability under Section&#160;145 of the DGCL. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">If the DGCL is amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of the directors will be eliminated or limited to the fullest extent permitted by the DGCL, as so amended. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Delaware law and the A&amp;R Certificate of Incorporation provide that we will, in certain situations, indemnify our directors and officers and may indemnify other employees and other agents, to the fullest extent permitted by law. Any indemnified person is also entitled, subject to certain limitations, to advancement, direct payment, or reimbursement of reasonable expenses (including attorneys&#8217; fees and disbursements) in advance of the final disposition of the proceeding. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-1<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_300-part2_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">In addition, we have entered into separate indemnification agreements with our directors and officers. These agreements, among other things, require us to indemnify our directors and officers for certain expenses, including attorneys&#8217; fees, judgments, fines, and settlement amounts incurred by a director or officer in any action or proceeding arising out of their services as one of our directors or officers or any other company or enterprise to which the person provides services at its request. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We also maintain a directors&#8217; and officers&#8217; insurance policy pursuant to which our directors and officers are insured against liability for actions taken in their capacities as directors and officers. We believe these provisions in the A&amp;R Certificate of Incorporation and these indemnification agreements are necessary to attract and retain qualified persons as directors and officers. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, or control persons, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-2<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_300-part2_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 0pt;"><tr><td style="width: 50pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item&#160;16.<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">Exhibits. </div></td></tr></table><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7pt; margin-left: 0pt; text-align: left;">The following is a list of exhibits filed as a part of this registration statement: </div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;">(a) Exhibits </div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> </div><table cellspacing="0" cellpadding="0" class="BRDSX_fintab" style="width: 468pt; margin-left: auto; margin-right: auto;"><tr class="BRDSX_boxspacer"><td style="height: 6pt; width: 60pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 402pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr><tr class="BRDSX_header"><td style="width: 60pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Exhibit&#160;Number</div></td><td style="width: 3pt; border-bottom: none;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; border-bottom: none;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Description of Exhibits </div></td></tr><tr><td style="width: 60pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">1.1&#8224;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form&#160;of Underwriting Agreement </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/Archives/edgar/data/2001557/000114036124043179/ef20036737_ex3-1.htm">3.1</a></div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Amended and Restated Certificate of Incorporation of Innventure, Inc., filed with the Secretary of State of Delaware on October&#160;2, 2024 (incorporated by reference to Exhibit&#160;3.1 to Innventure, Inc.&#8217;s Current Report on Form&#160;8-K filed with the SEC on October&#160;9, 2024) </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/Archives/edgar/data/2001557/000114036124043179/ef20036737_ex3-2.htm">3.2</a></div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">By-laws of Innventure, Inc. (incorporated by reference to Exhibit&#160;3.2 to Innventure, Inc.&#8217;s Current Report on Form&#160;8-K filed with the SEC on October&#160;9, 2024) </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/Archives/edgar/data/2001557/000162828025025892/inv-ex33innventureseriesbp.htm">3.3</a></div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Certificate of Designation of Series&#160;B Preferred Stock of Innventure, Inc., filed with the Secretary of State of State of Delaware on October&#160;2, 2024 (incorporated by reference to Exhibit&#160;3.3 to Innventure, Inc.&#8217;s Quarterly Report on Form&#160;10-Q filed with the SEC on May&#160;15, 2025) </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/Archives/edgar/data/2001557/000114036125010165/ef20045914_ex3-1.htm">3.4</a></div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Certificate of Designation of Series&#160;C Preferred Stock of Innventure, Inc., filed with the Secretary of State of Delaware on March&#160;24, 2025 (incorporated by reference to Exhibit&#160;3.1 to Innventure, Inc.&#8217;s Current Report on Form&#160;8-K filed with the SEC on March&#160;25, 2025) </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="ny20061800x1_ex4-1.htm">4.1</a></div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form&#160;of Debt Securities Indenture </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">4.2&#8224;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form&#160;of Debt Securities </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">4.3&#8224;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Preferred Stock Certificate of Amendment </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">4.4&#8224;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form&#160;of Warrant Agreement </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">4.5&#8224;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form&#160;of Warrant Certificate </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">4.6&#8224;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form&#160;of Depositary Agreement </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">4.7&#8224;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form&#160;of Depositary Receipt </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">4.8&#8224;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form&#160;of Subscription Rights Certificate </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">4.9&#8224;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form&#160;of Purchase Contract </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">4.10&#8224;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form&#160;of Unit Agreement </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">4.11&#8224;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form&#160;of Unit Certificate </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="ny20061800x1_ex5-1.htm">5.1</a></div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Opinion of Jones Day </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="ny20061800x1_ex23-1.htm">23.1</a></div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Consent of Independent Registered Public Accounting Firm </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="ny20061800x1_ex5-1.htm">23.2</a></div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Consent of Jones Day (included in Exhibit&#160;5.1 hereto) </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tPOA">24.1</a></div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Power of Attorney (included on the signature page hereto) </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">25.1*</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt; background-color: #CCEEFF;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form T-1 Statement of Eligibility under Trust Indenture Act of 1939 of Trustee under Debt Securities Indenture </div></td></tr><tr><td style="width: 60pt; padding-top: 1.01pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="ny20061800x1_ex107.htm">107</a></div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 402pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Filing Fee Table</div></td></tr><tr class="BRDSX_boxspacer"><td style="height: 2.75pt; width: 60pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 3pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 402pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr></table><div><div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 0pt; margin-top: 8.25pt;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#8224;<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">To be filed either by amendment or as an exhibit to a report filed under the Securities Exchange Act of 1934 and incorporated herein by reference. </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">To be filed in accordance with the requirements of Section&#160;305(b)(2) of the Trust Indenture Act of 1939, as amended. </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt;"><tr><td style="width: 50pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item&#160;17.<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">Undertakings. </div></td></tr></table><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7pt; margin-left: 0pt; text-align: left;">The undersigned registrant hereby undertakes: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(1)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(i)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">To include any prospectus required by Section&#160;10(a)(3) of the Securities Act of 1933; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(ii)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">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&#160;424(b) if, in the aggregate, the changes in </div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-3<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_300-part2_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 60pt; text-align: left;">volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement; and </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(iii)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">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; </div></td></tr></table><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 40pt; text-align: left;">provided<font style="font-style: normal;">, </font>however<font style="font-style: normal;">, that paragraphs (1)(i), (1)(ii) and (1)(iii) do 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 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this registration statement, or is contained in a form of prospectus filed pursuant to Rule&#160;424(b) that is part of this registration statement. </font></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(2)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">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 <font style="font-style: italic;">bona fide</font> offering thereof. </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(3)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">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. </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(4)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser: </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(i)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Each prospectus filed by the registrant pursuant to Rule&#160;424(b)(3) shall be deemed to be a part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(ii)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Each prospectus required to be filed pursuant to Rule&#160;424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule&#160;430B relating to an offering made pursuant to Rule&#160;415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by section&#160;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&#160;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 <font style="font-style: italic;">bona fide</font> offering thereof. <font style="font-style: italic;">Provided, however,</font> 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. </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(5)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">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: </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(i)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule&#160;424; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(ii)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">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; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(iii)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">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 </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(iv)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser. </div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-4<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_300-part2_pg5"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: left;">The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&#8217;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&#8217;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. </div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-align: left;">The undersigned registrant hereby undertakes to supplement the prospectus, after the expiration of the subscription period, to set forth the results of the subscription offer, the transactions by the underwriters during the subscription period, the amount of unsubscribed securities to be purchased by the underwriters, and the terms of any subsequent reoffering thereof. If any public offering by the underwriters is to be made on terms differing from those set forth on the cover page of the prospectus, a post-effective amendment will be filed to set forth the terms of such offering. </div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-align: left;">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 Securities Act of 1933 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 Securities Act of 1933 and will be governed by the final adjudication of such issue. </div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-align: left;">The undersigned registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of Section&#160;310 of the Trust Indenture Act in accordance with the rules and regulations prescribed by the Commission under Section&#160;305(b)(2) of the Trust Indenture Act. </div></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-5<br></div></div></div>
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<div class="BRDSX_page" style="text-align: left; margin: auto; line-height: initial; width: 468pt;"><a name="ny20061800x1_s3_301-sig_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="BRDSX_page-content"><div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">SIGNATURES </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form&#160;S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Orlando, State of Florida, on December 23, 2025. </div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> </div><table cellspacing="0" cellpadding="0" class="BRDSX_txttab" style="width: 468pt; margin-left: auto; margin-right: auto;"><tr class="BRDSX_boxspacer"><td style="height: 6pt; width: 216pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 6pt; width: 240pt;" colspan="4"><div style="font-size: 1pt;">&#8194;</div></td></tr><tr><td style="width: 216pt; padding-bottom: 0.63pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td colspan="4" style="width: 240pt; padding-bottom: 0.63pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">INNVENTURE, INC.</div></td></tr><tr><td style="width: 216pt; padding-top: 0.26pt; padding-bottom: 0.63pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 24pt; padding-top: 0.26pt; padding-bottom: 0.63pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 204pt; padding-top: 0.26pt; padding-bottom: 0.63pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 216pt; padding-top: 0.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 24pt; padding-top: 0.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">By:</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt; border-bottom: none;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 204pt; padding-top: 0.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">/s/ Gregory W. Haskell </div></td></tr><tr><td style="width: 216pt; padding-top: 1.01pt; padding-bottom: 0.63pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 24pt; padding-top: 1.01pt; padding-bottom: 0.63pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Name: </div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 204pt; padding-top: 1.01pt; padding-bottom: 0.63pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Gregory W. Haskell </div></td></tr><tr><td style="width: 216pt; padding-top: 0.26pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 24pt; padding-top: 0.26pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Title:</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 204pt; padding-top: 0.26pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Chief Executive Officer and Director</div></td></tr><tr class="BRDSX_boxspacer"><td style="height: 2.75pt; width: 216pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 24pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 204pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr></table><div class="BRDSX_h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 16.5pt; text-align: center;"><a name="tPOA"><!--Anchor--></a>Power of Attorney </div><div class="BRDSX_para" style="color: #000000; 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height: 12.5pt; padding-top: 0.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">/s/ Daniel J. Hennessy</div></td><td style="width: 6pt; border-bottom: none;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;" rowspan="2"><div style="font-size: 1pt;">&#8194;</div></td><td rowspan="2" style="width: 228pt; height: 12.5pt; padding-top: 0.26pt; padding-bottom: 0.63pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Director</div></td><td style="width: 6pt;" rowspan="2"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;" rowspan="2"><div style="font-size: 1pt;">&#8194;</div></td><td rowspan="2" style="width: 96pt; height: 12.5pt; padding-top: 0.26pt; padding-bottom: 0.63pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">December 23, 2025 </div></td></tr><tr><td style="width: 120pt; padding-top: 1.01pt; padding-bottom: 0.63pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Daniel J. Hennessy</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr><tr><td style="width: 120pt; padding-top: 0.26pt; padding-bottom: 0.63pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 228pt; padding-top: 0.26pt; padding-bottom: 0.63pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 96pt; padding-top: 0.26pt; padding-bottom: 0.63pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 120pt; height: 12.5pt; padding-top: 0.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">/s/ Michael Amalfitano</div></td><td style="width: 6pt; border-bottom: none;"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;" rowspan="2"><div style="font-size: 1pt;">&#8194;</div></td><td rowspan="2" style="width: 228pt; height: 12.5pt; padding-top: 0.26pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Director</div></td><td style="width: 6pt;" rowspan="2"><div style="font-size: 1pt;">&#8194;</div></td><td style="width: 6pt;" rowspan="2"><div style="font-size: 1pt;">&#8194;</div></td><td rowspan="2" style="width: 96pt; height: 12.5pt; padding-top: 0.26pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">December 23, 2025</div></td></tr><tr><td style="width: 120pt; padding-top: 1.01pt; text-align: left; vertical-align: top;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Michael Amalfitano</div></td><td style="width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr><tr class="BRDSX_boxspacer"><td style="height: 2.75pt; width: 120pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 228pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 6pt;"><div style="font-size: 1pt;">&#8194;</div></td><td style="height: 2.75pt; width: 96pt;"><div style="font-size: 1pt;">&#8194;</div></td></tr></table></div></div><div class="BRDSX_block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="BRDSX_unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-6<br></div></div></div>
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<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>ny20061800x1_ex4-1.htm
<DESCRIPTION>EXHIBIT 4.1
<TEXT>
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    <div style="text-align: right;"><font style="font-weight: bold; font-size: 10pt;"> Exhibit 4.1</font><font style="font-size: 10pt;"><br>
      </font> </div>
    <div> <font style="font-size: 10pt;"><br>
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    <div>
      <div style="font-size: 10pt; font-weight: bold; text-align: center;">INNVENTURE, INC.</div>
      <div style="font-size: 10pt; font-weight: bold; text-align: center;"> <br>
        </div>
      <div>
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          <hr noshade="noshade" align="center" style="height: 2px; width: 10%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div><font style="font-size: 10pt;"><br>
          </font> </div>
      </div>
      <div style="font-size: 10pt; font-weight: bold; text-align: center;">INDENTURE</div>
      <div style="font-size: 10pt; font-weight: bold; text-align: center;"> <br>
        </div>
      <div style="font-size: 10pt; font-weight: bold; text-align: center;">Dated as of [&#160; &#160; &#160; ]</div>
      <div style="font-size: 10pt; font-weight: bold; text-align: center;"> <br>
        </div>
      <div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; width: 10%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div><font style="font-size: 10pt;"><br>
          </font> </div>
      </div>
      <div style="font-size: 10pt; font-weight: bold; text-align: center;">[&#160; &#160; &#160; ],</div>
      <div style="font-size: 10pt; font-weight: bold; text-align: center;">as Trustee</div>
      <div style="font-size: 10pt; font-weight: bold; text-align: center;"> <br>
        </div>
      <div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; width: 10%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
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      <div style="text-align: center; margin-bottom: 12pt; font-size: 10pt; font-weight: bold;">CROSS-REFERENCE TABLE*</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z960daa3159e94b9994739b79a100c917">

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            <td nowrap="nowrap" style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>
                <div style="text-align: center; font-size: 10pt; font-style: italic; font-weight: bold;">Trust Indenture</div>
                <div style="text-align: center; font-size: 10pt; font-style: italic; font-weight: bold;">Act Section</div>
              </div>
            </td>
            <td style="width: 78%; vertical-align: bottom; padding-bottom: 2px; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>
                <div style="text-align: center; font-size: 10pt; font-style: italic; font-weight: bold;">Indenture</div>
                <div style="text-align: center; font-size: 10pt; font-style: italic; font-weight: bold;">Section</div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">310(a)(1)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">7.10</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(a)(2)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">7.10</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(a)(3)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">N.A.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(a)(4)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">N.A.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(a)(5)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">7.10</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(b)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">7.10</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(c)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">N.A.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">311(a)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">7.11</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(b)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">7.11</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(c)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">N.A.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">312(a)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">2.06</div>
            </td>
          </tr>
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            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(b)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">11.03</div>
            </td>
          </tr>
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            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(c)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">11.03</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">313(a)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">7.06</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(b)(2)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">7.06; 7.07</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(c)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">7.06; 11.02</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(d)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">7.06</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">314(a)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">4.03; 4.04; 11.05</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(b)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">N.A.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(c)(l)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">11.04</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(c)(2)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">11.04</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(c)(3)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">N.A.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(d)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">N.A.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(e)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">11.05</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(f)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">N.A.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">315(a)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">7.01</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(b)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">7.05; 11.02</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(c)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">7.01</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(d)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">7.01</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(e)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">6.11</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">316(a) (last sentence)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">2.10</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(a)(l)(A)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">6.05</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(a)(l)(B)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">6.04</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(a)(2)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">N.A.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(b)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">6.07</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(c)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">2.14</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">317(a)(l)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">6.08</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(a)(2)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">6.09</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(b)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">2.05</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">318(a)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">11.01</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="font-size: 10pt;">(b)</div>
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            <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-size: 10pt;">N.A.</div>
            </td>
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          <tr>
            <td style="vertical-align: top;" colspan="2">
              <div style="font-size: 10pt;">(c)</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 10pt;">11.01</div>
            </td>
          </tr>

      </table>
      <div>
        <div><font style="font-size: 10pt;"><br>
          </font> </div>
        <hr noshade="noshade" align="left" style="height: 2px; width: 20%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
      <div style="text-indent: -18pt; margin-left: 18pt; font-size: 10pt;">N.A. means not applicable.</div>
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            <td style="width: 18pt; vertical-align: top; font-size: 10pt;">*</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-size: 10pt;">This Cross Reference Table is not part of this Indenture.</div>
            </td>
          </tr>

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      <div><font style="font-size: 10pt;"><br>
        </font> </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" class="BRPFPageBreakArea">
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        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 10pt; font-weight: bold;">TABLE OF CONTENTS</div>
        <div style="color: #000000; font-size: 10pt; font-weight: bold;"> <br>
          </div>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z8a2c0d49afde4552af47251aaf4d7b85">

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            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">ARTICLE 1</div>
            </td>
            <td style="width: 83%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">DEFINITIONS AND INCORPORATION BY REFERENCE</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">1</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

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            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 1.01</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Definitions</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">1</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 1.02</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Other Definitions</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">5</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 1.03</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Incorporation by Reference of Trust Indenture Act</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">5</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 1.04</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Rules of Construction</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">5</div>
            </td>
          </tr>

      </table>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 12%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 83%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 5%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">ARTICLE 2</td>
              <td style="width: 83%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">THE NOTES</td>
              <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right; font-size: 10pt;">6<br>
              </td>
            </tr>

        </table>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

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            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 2.01</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Issuable in Series</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">6</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 2.02</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Establishment of Terms of Series of Notes</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">6</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 2.03</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Execution and Authentication</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">7</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 2.04</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Registrar and Paying Agent</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">8</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 2.05</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Paying Agent to Hold Money in Trust</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">8</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 2.06</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Holder Lists</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 2.07</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Transfer and Exchange</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 2.08</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Replacement Notes</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 2.09</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Outstanding Notes</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 2.10</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Treasury Notes</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">10</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 2.11</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Temporary Notes</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">10</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 2.12</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Cancellation</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">10</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 2.13</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Defaulted Interest</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">10</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 2.14</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Global Notes</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">11</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 2.15</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">CUSIP Number</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">12</div>
            </td>
          </tr>

      </table>
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        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 83%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 12%; vertical-align: top; font-size: 10pt;">ARTICLE 3</td>
              <td style="width: 83%; vertical-align: top; font-size: 10pt;">REDEMPTION AND PREPAYMENT</td>
              <td style="width: 5%; vertical-align: top; text-align: right; font-size: 10pt;">12<br>
              </td>
            </tr>

        </table>
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      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

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            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 3.01</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Notice to Trustee</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">12</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 3.02</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Selection of Notes to Be Redeemed</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">12</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 3.03</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Notice of Redemption</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">12</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 3.04</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Effect of Notice of Redemption</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">13</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 3.05</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Deposit of Redemption Price</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">13</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 3.06</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Notes Redeemed in Part</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">13</div>
            </td>
          </tr>

      </table>
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        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 83%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 12%; vertical-align: top; font-size: 10pt;">ARTICLE 4</td>
              <td style="width: 83%; vertical-align: top; font-size: 10pt;">COVENANTS</td>
              <td style="width: 5%; vertical-align: top; text-align: right; font-size: 10pt;">14<br>
              </td>
            </tr>

        </table>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

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            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 4.01</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Payment of Principal and Interest</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">14</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 4.02</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Maintenance of Office or Agency</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">14</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 4.03</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Reports</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">14</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 4.04</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Compliance Certificate</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">14</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 4.05</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Taxes</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">14</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 4.06</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Stay, Extension and Usury Laws</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">15</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 4.07</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Corporate Existence</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">15</div>
            </td>
          </tr>

      </table>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 12%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 83%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 5%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">ARTICLE 5</td>
              <td style="width: 83%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">SUCCESSORS</td>
              <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right; font-size: 10pt;">15<br>
              </td>
            </tr>

        </table>
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      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 5.01</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Merger, Consolidation, or Sale of Assets</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">15</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 5.02</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Successor Corporation Substituted</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">16</div>
            </td>
          </tr>

      </table>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 12%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 83%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 5%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">ARTICLE 6</td>
              <td style="width: 83%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">DEFAULTS AND REMEDIES</td>
              <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right; font-size: 10pt;">16<br>
              </td>
            </tr>

        </table>
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      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 6.01</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Events of Default</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">16</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 6.02</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Acceleration</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">17</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 6.03</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Other Remedies</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">17</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 6.04</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Waiver of Past Defaults</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">17</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 6.05</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Control by Majority</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">18</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 6.06</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Limitation on Suits</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">18</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 6.07</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Rights of Holders of Notes to Receive Payment</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">18</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 6.08</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Collection Suit by Trustee</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">18</div>
            </td>
          </tr>

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        </font> </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" class="BRPFPageBreakArea">
        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">i</font></div>
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          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 10pt;"><font style="font-weight: bold;">TABLE OF CONTENTS</font></div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 10pt;"><font style="font-weight: bold;"> </font>(continued)</div>
      </div>
      <font style="font-size: 10pt;"><br>
      </font>
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          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 6.09</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Trustee May File Proofs of Claim</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">19</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 6.10</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Priorities</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">19</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 6.11</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Undertaking for Costs</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">19</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 6.12</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Restoration of Rights and Remedies</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">19</div>
            </td>
          </tr>

      </table>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 83%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 12%; vertical-align: top; font-size: 10pt;">ARTICLE 7</td>
              <td style="width: 83%; vertical-align: top; font-size: 10pt;">TRUSTEE</td>
              <td style="width: 5%; vertical-align: top; text-align: right; font-size: 10pt;">20<br>
              </td>
            </tr>

        </table>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

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            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 7.01</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Duties of Trustee</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">20</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 7.02</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Rights of Trustee</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">20</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 7.03</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Individual Rights of Trustee</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">21</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 7.04</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Trustee&#8217;s Disclaimer</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 7.05</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Notice of Defaults</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 7.06</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Reports by Trustee to Holders of the Notes</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 7.07</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Compensation and Indemnity</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 7.08</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Replacement of Trustee</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">23</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 7.09</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Successor Trustee by Merger, etc</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 7.10</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Eligibility; Disqualification</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 7.11</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Preferential Collection of Claims Against Company</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">24</div>
            </td>
          </tr>

      </table>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 12%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 83%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 5%; vertical-align: top; font-size: 10pt;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">ARTICLE 8</td>
              <td style="width: 83%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">LEGAL DEFEASANCE AND COVENANT DEFEASANCE</td>
              <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right; font-size: 10pt;">24<br>
              </td>
            </tr>

        </table>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 8.01</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Option to Effect Legal Defeasance or Covenant Defeasance</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 8.02</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Legal Defeasance and Discharge</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 8.03</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Covenant Defeasance</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 8.04</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Conditions to Legal or Covenant Defeasance</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 8.05</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 8.06</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Repayment to Company</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 8.07</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Reinstatement</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">27</div>
            </td>
          </tr>

      </table>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 83%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 12%; vertical-align: top; font-size: 10pt;">ARTICLE 9</td>
              <td style="width: 83%; vertical-align: top; font-size: 10pt;">AMENDMENT, SUPPLEMENT AND WAIVER</td>
              <td style="width: 5%; vertical-align: top; text-align: right; font-size: 10pt;">27<br>
              </td>
            </tr>

        </table>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 9.01</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Without Consent of Holders of Notes</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 9.02</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">With Consent of Holders of Notes</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 9.03</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Compliance with Trust Indenture Act</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 9.04</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Revocation and Effect of Consents</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 9.05</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Notation on or Exchange of Notes</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 9.06</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Trustee to Sign Amendments, etc</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">29</div>
            </td>
          </tr>

      </table>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 83%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
              <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 12%; vertical-align: top; font-size: 10pt;">ARTICLE 10</td>
              <td style="width: 83%; vertical-align: top; font-size: 10pt;">SATISFACTION AND DISCHARGE</td>
              <td style="width: 5%; vertical-align: top; text-align: right; font-size: 10pt;">29<br>
              </td>
            </tr>

        </table>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 10.01</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Satisfaction and Discharge</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 10.02</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Application of Trust Money</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">30</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
            <td style="width: 83%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: top;">
              <div style="margin-top: 0px; margin-bottom: 0px; font-size: 10pt;">ARTICLE 11</div>
            </td>
            <td style="width: 83%; vertical-align: top;">
              <div style="margin-top: 0px; margin-bottom: 0px; font-size: 10pt;">MISCELLANEOUS</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="margin-top: 0px; margin-bottom: 0px; font-size: 10pt; text-align: right;">30</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 11.01</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Trust Indenture Act Controls</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">30</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 11.02</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Notices</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">30</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 11.03</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Communication by Holders of Notes with Other Holders of Notes</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">32</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 11.04</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Certificate and Opinion as to Conditions Precedent</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">32</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 11.05</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Statements Required in Certificate or Opinion</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">32</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 11.06</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Rules by Trustee and Agents</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">32</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 11.07</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Calculation of Foreign Currency Amounts</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">32</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 11.08</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">No Personal Liability of Directors, Officers, Employees and Shareholders</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">33</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 11.09</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Governing Law</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">33</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 11.10</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">No Adverse Interpretation of Other Agreements</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">33</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 11.11</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Successors</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">33</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 11.12</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Severability</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">33</div>
            </td>
          </tr>

      </table>
      <div><font style="font-size: 10pt;"><br>
        </font> </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" class="BRPFPageBreakArea">
        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">ii</font></div>
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          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div>
          <div style="text-align: center; color: rgb(0, 0, 0); font-size: 10pt;"><font style="font-weight: bold;">TABLE OF CONTENTS</font></div>
          <div style="text-align: center; color: rgb(0, 0, 0); font-size: 10pt;"><font style="font-weight: bold;">&#160;</font>(continued)</div>
        </div>
      </div>
      <div> <font style="font-size: 10pt;"><br>
        </font></div>
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          <tr>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" colspan="1">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 11.13</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Counterpart Originals</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">33</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;" colspan="1">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 11.14</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Table of Contents, Headings, etc</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">33</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" colspan="1">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 11.15</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Waiver of Jury Trial</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">33</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; font-size: 10pt;" colspan="1">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="font-size: 10pt;">Section 11.16</div>
            </td>
            <td style="width: 78%; vertical-align: top;">
              <div style="font-size: 10pt;">Patriot Act Compliance</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-size: 10pt; text-align: right;">33</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;" colspan="1">&#160;</td>
            <td style="width: 12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Section 11.17</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt;">Foreign Account Tax Compliance Act (FATCA)</div>
            </td>
            <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="font-size: 10pt; text-align: right;">34</div>
            </td>
          </tr>

      </table>
      <div><font style="font-size: 10pt;"><br>
        </font> </div>
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        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">iii</font></div>
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        <div style="text-indent: 18pt; font-size: 10pt;">INDENTURE, dated as of [<font style="font-weight: bold;">&#160; &#160; &#160; </font>], by and between
          Innventure, Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;), and [<font style="font-weight: bold;">&#160; &#160; &#160; </font>], as trustee (the &#8220;<u>Trustee</u>&#8221;).</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the
          Notes issued under this Indenture.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;"><a name="z_Toc40730628"></a>ARTICLE 1</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">DEFINITIONS AND INCORPORATION</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">BY REFERENCE</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730629"></a><font style="font-weight: bold;">Section 1.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Definitions</font>.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Affiliate</u>&#8221; of any specified Person means any other Person directly
          or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, &#8220;control,&#8221; as used with respect to any Person, means the possession, directly or indirectly, of the
          power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms &#8220;<u>controlling</u>,&#8221; &#8220;<u>controlled by</u>&#8221; and &#8220;<u>under common control with</u>&#8221; have
          correlative meanings.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Agent</u>&#8221; means any Registrar, co-registrar, Custodian, Paying Agent or
          additional paying agent or conversion agent.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Applicable Procedures</u>&#8221; means, with respect to any payment, tender,
          redemption, transfer, exchange, or conversion of or for beneficial interests in any Global Note, the rules and procedures of the Depositary that apply to such payment, tender, redemption, transfer, exchange, or conversion.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Bankruptcy Law</u>&#8221; means Title 11, U.S. Code or any similar federal or
          state law for the relief of debtors.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Board of Directors</u>&#8221; means:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;with
              respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on behalf of such board;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;with
              respect to a partnership, the Board of Directors of the general partner of the partnership;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;with
              respect to a limited liability company, the managing member or members or any controlling committee of managing members thereof; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;with
              respect to any other Person, the board or committee of such Person serving a similar function.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Board Resolution</u>&#8221; means a copy of a resolution certified by the
          Secretary or an Assistant Secretary of the Company to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the
          Trustee.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Business Day</u>&#8221; means any day other than a Legal Holiday. If a payment
          date falls on a day that is not a Business Day, the related payment shall be made on the next succeeding Business Day as if made on the date the payment is due, and no interest shall accrue on such payment for the intervening period.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Capital Lease Obligation</u>&#8221; means, at the time any determination is to
          be made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet prepared in accordance with GAAP.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Capital Stock</u>&#8221; means:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;in
              the case of a corporation, corporate stock;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">1</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;in
              the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;in
              the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership interests; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
              other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Company</u>&#8221; means Innventure, Inc., and, subject to Article 5, any and
          all successors thereto.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Company Order</u>&#8221; means a written order signed in the name of the
          Company by an Officer.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Corporate Trust Office of the Trustee</u>&#8221; means the designated office
          of the Trustee at which at any time its corporate trust business in respect of this Indenture shall be administered, which office at the date hereof is located at [<font style="font-weight: bold;">&#160; &#160; &#160; </font>],
          Attention: [<font style="font-weight: bold;">&#160; &#160; &#160; </font>], 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).</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Custodian</u>&#8221; means the Trustee, as custodian for the Depositary with
          respect to any Global Notes, or any successor entity thereto.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Default</u>&#8221; means any event that is, or with the passage of time or the
          giving of notice or both would be, an Event of Default.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Depositary</u>&#8221; means, with respect to the Notes of any Series issuable
          or issued in whole or in part in the form of one or more Global Notes, the person designated as Depositary for such Series by the Company, which Depositary shall be a clearing agency registered under the Exchange Act; and if at any time there is
          more than one such person, &#8220;Depositary&#8221; as used with respect to the Notes of any Series shall mean the Depositary with respect to the Notes of such Series.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Discount Note</u>&#8221; means any Note that provides for an amount less than
          the stated principal amount thereof to be due and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.02.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Dollars</u>&#8221; and &#8220;<u>$</u>&#8221; means the currency of The United States of America.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Equity Interests</u>&#8221; means Capital Stock and all warrants, options or
          other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock).</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Exchange Act</u>&#8221; means the Securities Exchange Act of 1934, as amended.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Foreign Currency</u>&#8221; means any currency or currency unit issued by a
          government other than the government of The United States of America.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>GAAP</u>&#8221; means generally accepted accounting principles set forth in
          the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other
          entity as have been approved by a significant segment of the accounting profession, which are in effect from time to time.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Global Note</u>&#8221; or &#8220;<u>Global Notes</u>&#8221; means a Note or Notes, as the case may be, in the form established pursuant to Section 2.02 evidencing all or part of a Series of Notes, issued to the Depositary for such Series or its nominee, and
          registered in the name of such Depositary or nominee.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Government Securities</u>&#8221; means direct obligations of, or obligations
          guaranteed by, The United States of America, and the payment for which the United States pledges its full faith and credit.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Guarantee</u>&#8221; means a guarantee other than by endorsement of negotiable
          instruments for collection in the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of all or
          any part of any Indebtedness.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">2</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
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        </div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Hedging Obligations</u>&#8221; means, with respect to any specified Person,
          the obligations of such Person under:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;interest
              rate swap agreements (whether from fixed to floating or from floating to fixed), interest rate cap agreements and interest rate collar agreements;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;other
              agreements or arrangements designed to manage interest rates or interest rate risk; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;other
              agreements or arrangements designed to protect such Person against fluctuations in currency exchange rates or commodity prices.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Holder</u>&#8221; means a Person in whose name a Note is registered.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Indebtedness</u>&#8221; means, with respect to any specified Person, any
          indebtedness of such Person, whether or not contingent (without duplication):</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;in
              respect of borrowed money;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;evidenced
              by bonds, notes, debentures or similar instruments;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;in
              respect of banker&#8217;s acceptances or other similar instruments or credit transactions (including reimbursement obligations with respect thereto), other than obligations with respect to letters of credit securing obligations (other than
              obligations described in clauses (1) &#8211; (2), (4) or (5) hereof) entered into in the ordinary course of business of such Person to the extent such letters of credit are not drawn upon or, if and to the extent drawn upon, such drawing is
              reimbursed no later than the third Business Day following receipt by such Person of a demand for reimbursement following payment on the letter of credit;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;representing
              Capital Lease Obligations;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;representing
              the balance deferred and unpaid of the purchase price of any property, except any such balance that constitutes an accrued expense or trade payable; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(6)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;representing
              any Hedging Obligations,</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;">if and to the extent any of the preceding items, other than letters of credit and Hedging Obligations, would appear as a liability upon a balance sheet of the
          specified Person prepared in accordance with GAAP. In addition, the term &#8220;Indebtedness&#8221; includes all Indebtedness of others secured by a Lien on any asset of the specified Person, whether or not such Indebtedness is assumed by the specified
          Person, and, to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person or any liability of any person, whether or not contingent and whether or not it appears on the balance sheet of such
          Person. Notwithstanding anything to the contrary in the foregoing, the term &#8220;Indebtedness&#8221; excludes (x) any indebtedness of the Company or any Subsidiary of the Company to the Company or another Subsidiary of the Company and (y) any Guarantee by
          the Company or any Subsidiary of the Company of indebtedness of the Company or any Subsidiary of the Company.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The amount of any Indebtedness outstanding as of any date shall be:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              accreted value of the Indebtedness, in the case of any Indebtedness that does not require the current payment of interest; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              principal amount of the Indebtedness, together with any interest on the Indebtedness that is more than 30 days past due, in the case of any other Indebtedness.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Indenture</u>&#8221; means this Indenture, as amended, supplemented or
          restated from time to time and shall include the form and terms of particular Series of Notes established as contemplated hereunder.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">3</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Legal Holiday</u>&#8221; means a Saturday, a Sunday or a day on which banking
          institutions in the City of New York or the city where the Corporate Trust Office of the Trustee is located at such time are required or authorized by law, regulation or executive order to close or be closed.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Lien</u>&#8221; means, with respect to any asset, any mortgage, lien, pledge,
          charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature
          thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction; <font style="font-style: italic;">provided</font> that in no event shall an operating lease be deemed to constitute a Lien.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Notes</u>&#8221; means notes or other debt instruments of the Company of any
          Series issued under this Indenture.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Officer</u>&#8221; means, with respect to any Person, the Chief Executive
          Officer, the President, the Chief Financial Officer, the Executive Chairman of the Board of Directors, the Chief Strategy Officer, the Treasurer, the Controller, the Secretary, the Assistant Secretary or any Vice-President of such Person.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Officer&#8217;s Certificate</u>&#8221; means a certificate signed on behalf of the
          Company by an Officer of the Company that meets the requirements of Section 11.05 hereof.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Opinion of Counsel</u>&#8221; means an opinion from legal counsel, who may be
          an employee of or counsel to the Company or any Subsidiary of the Company, or other counsel reasonably acceptable to the Trustee, that meets the requirements of Section 11.05 hereof.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Person</u>&#8221; means any individual, corporation, partnership, joint
          venture, association, joint-stock company, trust, unincorporated organization, limited liability company or government or other entity.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Responsible Officer</u>,&#8221; when used with respect to the Trustee, means
          any director, vice president, assistant vice president or associate within the Corporate Trust Office of the Trustee (or any successor group of the Trustee) or any other officer of the Trustee customarily performing functions similar to those
          performed by any of the above designated officers who at the time shall have direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter
          is referred because of such person&#8217;s knowledge of and familiarity with the particular subject.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>SEC</u>&#8221; means the Securities and Exchange Commission.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Securities Act</u>&#8221; means the Securities Act of 1933, as amended.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Series</u>&#8221; or &#8220;<u>Series
              of Notes</u>&#8221; means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.01 and 2.02 hereof.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Significant Subsidiary</u>&#8221; means a Subsidiary of any Person that would
          be a &#8220;significant subsidiary&#8221; as defined under Regulation S-X promulgated under the Securities Act.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Stated Maturity</u>&#8221; means, with respect to any installment of interest
          or principal on any series of Indebtedness, the date on which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness, and will not include any contingent obligations to repay, redeem or
          repurchase any such interest or principal prior to the date originally scheduled for the payment thereof.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Subsidiary</u>&#8221; means, with respect to any specified Person:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
              corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or
              shareholders&#8217; agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly,
              by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">4</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
              partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any
              combination thereof).</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>TIA</u>&#8221; means the Trust Indenture Act of 1939, as amended (15 U.S.C. &#167;&#167;
          77aaa-77bbbb).</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Trustee</u>&#8221; means the person named as the &#8220;Trustee&#8221; in the first
          paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter &#8220;Trustee&#8221; shall mean each person who is then a Trustee hereunder, and if at any time there is
          more than one such person, &#8220;Trustee&#8221; as used with respect to the Notes of any Series shall mean the Trustee with respect to Notes of that Series.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Voting Stock</u>&#8221; of any specified Person as of any date means the
          Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730630"></a><font style="font-weight: bold;">Section 1.02</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Other Definitions.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <table cellspacing="0" cellpadding="0" border="0" align="center" id="z8bf91659123449fe996a6942cf81bc67" style="border-collapse: collapse; width: 80%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

            <tr>
              <td style="width: 1%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td style="width: 67%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
                <div style="font-style: italic; font-weight: bold;"><u>Term</u></div>
              </td>
              <td style="width: 11%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-style: italic; font-weight: bold;">Defined</div>
                <div style="text-align: center; font-style: italic; font-weight: bold;"><u>in Section</u></div>
              </td>
              <td style="width: 1%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td style="width: 67%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>&#8220;<u>Authentication Order</u>&#8221;</div>
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              <td style="width: 11%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right;">2.03</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td style="width: 67%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>&#8220;<u>Covenant Defeasance</u>&#8221;</div>
              </td>
              <td style="width: 11%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right;">8.03</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td style="width: 67%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>&#8220;<u>Event of Default</u>&#8221;</div>
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              <td style="width: 11%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right;">6.01</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td style="width: 67%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>&#8220;<u>Legal Defeasance</u>&#8221;</div>
              </td>
              <td style="width: 11%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right;">8.02</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td style="width: 67%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>&#8220;<u>Paying Agent</u>&#8221;</div>
              </td>
              <td style="width: 11%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right;">2.04</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td style="width: 67%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>&#8220;<u>Registrar</u>&#8221;</div>
              </td>
              <td style="width: 11%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right;">2.04</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            </tr>

        </table>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730631"></a><font style="font-weight: bold;">Section 1.03</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Incorporation by Reference of Trust Indenture Act.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The following TIA terms used in this Indenture have the following meanings:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>indenture securities</u>&#8221; means the Notes;</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>indenture security Holder</u>&#8221; means a Holder of a Note;</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>indenture to be qualified</u>&#8221; means this Indenture;</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>indenture trustee</u>&#8221; or &#8220;<u>institutional trustee</u>&#8221; means the Trustee; and</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>obligor</u>&#8221; on the indenture securities means the Company, and any
          other obligor upon the Notes.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule
          under the TIA have the meanings so assigned to them.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730632"></a><font style="font-weight: bold;">Section 1.04</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Rules of Construction.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Unless the context otherwise requires:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a
              term has the meaning assigned to it;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;an
              accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;or&#8221;
              is not exclusive;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;words
              in the singular include the plural, and in the plural include the singular;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">5</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;will&#8221;
              shall be interpreted to express a command;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(6)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;provisions
              apply to successive events and transactions; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(7)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;references
              to sections of or rules under the Securities Act will be deemed to include substitute, replacement or successor sections or rules adopted by the SEC from time to time.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;"><a name="z_Toc40730633"></a>ARTICLE 2</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">THE NOTES</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730634"></a><font style="font-weight: bold;">Section 2.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Issuable in Series.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is unlimited. The Notes may be issued
          in one or more Series. All Notes of a Series shall be identical except as may be set forth in a Board Resolution, a supplemental indenture or an Officer&#8217;s Certificate detailing the adoption of the terms thereof pursuant to the authority granted
          under a Board Resolution. In the case of Notes of a Series to be issued from time to time, the Board Resolution, Officer&#8217;s Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a
          Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined. Notes may differ between Series in respect of any matters, <font style="font-style: italic;">provided</font> that all Series of Notes shall be equally and ratably entitled to the benefits of this Indenture.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730635"></a><font style="font-weight: bold;">Section 2.02</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Establishment of Terms of Series of Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">At or prior to the issuance of any Notes within a Series, the following shall be established (as to the Series generally, in the case of
          Subsection 2.02(a) and either as to such Notes within the Series or as to the Series generally in the case of Subsections 2.02(b) through 2.02(s)) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board
          Resolution, supplemental indenture or an Officer&#8217;s Certificate pursuant to authority granted under a Board Resolution:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the title of the
              Series (which shall distinguish the Notes of that particular Series from the Notes of any other Series);</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the price or
              prices (expressed as a percentage of the principal amount thereof) at which the Notes of the Series will be issued;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any limit upon the
              aggregate principal amount of the Notes of the Series which may be authenticated and delivered under this Indenture (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes
              of the Series pursuant to Section 2.07, 2.08, 2.11, 3.06 or 9.05);</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the date or dates
              on which the principal of the Notes of the Series is payable;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the rate or rates
              (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Notes of the
              Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any
              interest payment date, and the basis of computation of interest if other than on the basis of a 360-day year consisting of twelve 30-day months;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the place or
              places where the principal of, premium and interest, if any, on the Notes of the Series shall be payable, where the Notes of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the
              Company in respect of the Notes of such Series and this Indenture may be served, and the method of such payment, if by wire transfer, mail or other means;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;if applicable, the
              period or periods within which, the price or prices at which and the terms and conditions upon which the Notes of the Series may be redeemed, in whole or in part, at the option of the Company;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">6</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the obligation, if
              any, of the Company to redeem or purchase the Notes of the Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and
              conditions upon which Notes of the Series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(i)&#160;&#160;&#160; &#160; &#160;&#160;&#160;&#160; the dates, if
              any, on which and the price or prices at which the Notes of the Series will be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; the
              denominations in which the Notes of the Series shall be issuable, if other than minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the forms of the
              Notes of the Series in bearer or fully registered form (and, if in fully registered form, whether the Notes will be issuable as Global Notes);</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; if other than
              the principal amount thereof, the portion of the principal amount of the Notes of the Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.02;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the designation of
              the currency, currencies or currency units in which payment of the principal of, premium and interest, if any, on the Notes of the Series will be made if other than Dollars;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;whether the Notes
              of the Series may be exchangeable for and/or convertible into common shares of the Company or any other security;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the provisions, if
              any, relating to any security provided for the Notes of the Series, and any subordination in right of payment, if any, of the Notes of the Series;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(p)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any addition to or
              change in the Events of Default which applies to any Notes of the Series and any change in the right of the Trustee or the requisite Holders of such Notes to declare the principal amount thereof due and payable pursuant to Section 6.02;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(q)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any addition to or
              change in the covenants set forth in Articles 4 or 5 that applies to Notes of the Series;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(r)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any other terms of
              the Notes of the Series (which may modify or delete any provision of this Indenture insofar as it applies to such Series); and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(s)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any depositaries,
              interest rate calculation agents, exchange rate calculation agents or other agents with respect to Notes of such Series if other than those appointed herein.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">All Notes 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, supplemental indenture hereto or Officer&#8217;s Certificate referred to above, and, unless otherwise provided, a Series may be reopened, without the consent of the Holders, for
          issuances of additional Notes of such Series; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that if such
          additional Notes are not fungible with the Notes of such Series for U.S. federal income tax purposes, the additional Notes will have a separate CUSIP number. No Board Resolution or Officer&#8217;s Certificate may affect the Trustee&#8217;s own rights, duties
          or immunities under this Indenture or otherwise with respect to any series of Notes except as it may agree in writing.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730636"></a><font style="font-weight: bold;">Section 2.03</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Execution and Authentication.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">One Officer shall sign the Notes for the Company by manual or facsimile signature. If an Officer whose signature is on a Note no longer
          holds that office at the time such Note is authenticated, such Note shall nevertheless be valid.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">A Note shall not be valid until authenticated by the manual signature of the Trustee. The signature shall be conclusive evidence that the
          Note, as applicable, has been authenticated under this Indenture.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">7</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee shall, upon a written order of the Company signed by one Officer (an &#8220;<u>Authentication
              Order</u>&#8221;), authenticate Notes for original issue in accordance with this Indenture. The Notes shall be dated their date of authentication.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. An authenticating agent may authenticate
          Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the
          Company.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Notes of any Series executed
          by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes, and the Trustee in accordance with the Company Order will authenticate and deliver such Notes. In authenticating
          such Notes, and accepting the additional responsibilities under this Indenture in relation to such Notes, the Trustee shall receive, and (subject to Section 7.01) will be fully protected in relying upon, an Opinion of Counsel stating:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;that such form has
              been established in conformity with the provisions of this Indenture;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;that such terms
              have been established in conformity with the provisions of this Indenture; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;that this
              Indenture and such Notes, when authenticated and delivered by the Trustee and, with respect to the Notes, when issued by the Company, in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and
              binding obligations of the Company enforceable in accordance with their terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium, or other laws relating to or affecting creditors&#8217; rights
              and by general principles of equity.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730637"></a><font style="font-weight: bold;">Section 2.04</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Registrar and Paying Agent.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company shall maintain an office or agency where Notes may be presented for registration of transfer or for exchange (&#8220;<u>Registrar</u>&#8221;) and an office or agency where Notes may be presented for payment (&#8220;<u>Paying Agent</u>&#8221;). The Registrar
          shall keep a register with respect to each Series of the Notes and of their transfer and exchange. The Company may appoint one or more co-registrars and one or more additional paying agents or change the office of such Registrar or Paying Agent.
          The term &#8220;Registrar&#8221; includes any co-registrar and the term &#8220;Paying Agent&#8221; includes any additional paying agent. The Company may change any Paying Agent or Registrar without notice to any Holder; however, the Company shall maintain a Paying Agent
          in each place of payment for the Notes of each Series. The Company shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain another entity as Registrar or
          Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to act as Custodian with respect to the Global
          Notes. The Company shall be responsible for making calculations called for under the Notes and this Indenture, including, but not limited to, determination of interest, additional amounts, redemption price, premium, if any, and any other amounts
          payable on the Notes. The Company will make the calculations in good faith and, absent manifest error, its calculations will be final and binding on the Holders. The Company will provide a schedule of its calculations to the Trustee when
          requested by the Trustee in writing, and the Trustee is entitled to rely conclusively on the accuracy of the Company&#8217;s calculations without independent verification. The Trustee shall forward the Company&#8217;s calculations to any Holder of the Notes
          upon the written request of such Holder.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730638"></a><font style="font-weight: bold;">Section 2.05</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Paying Agent to Hold Money in Trust.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the
          benefit of Holders of any Series of Notes, or the Trustee, all money held by the Paying Agent for the payment of principal or interest on the Series of Notes, and shall notify the Trustee of any default by the Company in making any such payment.
          While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Subject to applicable abandoned
          property law, all payments to a Paying Agent on any Notes which remain unclaimed for a period of two years after such payment was due shall be repaid to the Company. Thereafter, the Holder may look only to the Company for repayment. Upon payment
          over to the Trustee, or to the Company, as the case may be, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the money. If the Company or a Subsidiary acts as Paying Agent, it shall segregate and
          hold in a separate trust fund for the benefit of Holders of any Series of Notes all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee shall serve as Paying Agent for the
          Notes.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">8</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-size: 10pt;"><a name="z_Toc40730639"></a><font style="font-weight: bold;">Section 2.06</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Holder Lists.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and
          addresses of Holders of each Series of Notes and shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee, at least seven Business Days before each interest payment date and at
          such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders of each Series of Notes and the Company shall otherwise comply with
          Section 312(a) of the TIA.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730640"></a><font style="font-weight: bold;">Section 2.07</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Transfer and Exchange.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Notes may be transferred or exchanged at the office of the Registrar or co-registrar designated by the Company. Where Notes of a Series are
          presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Notes of the same Series, the Registrar shall register the transfer or make the exchange if its requirements
          for such transactions are met. To permit registrations of transfers and exchanges, the Trustee shall authenticate Notes at the Registrar&#8217;s request. No service charge shall be made for any registration of transfer or exchange (except as otherwise
          expressly permitted herein), but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar governmental charge payable
          upon exchanges pursuant to Sections 2.11, 3.06 or 9.05).</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Neither the Company nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Notes of any Series for the
          period beginning at the opening of business fifteen days immediately preceding the mailing or sending of a notice of redemption of Notes of that Series selected for redemption and ending at the close of business on the day of such mailing or
          sending, or (b) to register the transfer of or exchange Notes of any Series selected, called or being called for redemption as a whole or a portion thereof, except the unredeemed portion of Notes being redeemed in part.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed
          under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Depositary participants or beneficial owners of interests in any Global Note) other than to require
          delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form
          with the express requirements hereof.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730641"></a><font style="font-weight: bold;">Section 2.08</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Replacement Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If any mutilated Note is surrendered to the Trustee, or if the Company and the Trustee receive evidence to their satisfaction of the
          destruction, loss or theft of any Note, the Company shall issue and the Trustee, upon receipt of an Authentication Order together with such indemnity or security sufficient in the judgment of the Trustee and the Company to protect the Company,
          the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced, shall authenticate a replacement Note of the same Series if the Trustee&#8217;s requirements are met. The Company may charge for its
          expenses in replacing a Note.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Every replacement Note of any Series is an additional obligation of the Company and shall be entitled to all of the benefits of this
          Indenture equally and proportionately with all other Notes of that Series duly issued hereunder.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">9</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-size: 10pt;"><a name="z_Toc40730642"></a><font style="font-weight: bold;">Section 2.09</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Outstanding Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those canceled by it, those delivered to it for
          cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section as not outstanding. Except as set forth in Section 2.10 hereof, a Note does not
          cease to be outstanding because the Company or an Affiliate of the Company holds the Note.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If a Note is replaced pursuant to Section 2.08 hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory to it
          that the replaced Note is held by a bona fide purchaser.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If the principal amount of any Note is considered paid under Section 4.01 hereof, it ceases to be outstanding and interest on it ceases to
          accrue.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof) holds, on a redemption date or maturity date,
          money sufficient to pay Notes payable on that date, then on and after that date such Notes shall be deemed to be no longer outstanding and shall cease to accrue interest.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730643"></a><font style="font-weight: bold;">Section 2.10</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Treasury Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">In determining whether the Holders of the required principal amount of Notes of a Series have concurred in any direction, waiver or
          consent, Notes owned by the Company, or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company, shall be considered as though not outstanding, except that for the purposes of
          determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes of a Series that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730644"></a><font style="font-weight: bold;">Section 2.11</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Temporary Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Until certificates representing Notes are ready for delivery, the Company may prepare and the Trustee, upon receipt of an Authentication
          Order, shall authenticate temporary Notes. Temporary Notes shall be substantially in the form of certificated Notes but may have variations that the Company considers appropriate for temporary Notes and as shall be reasonably acceptable to the
          Trustee. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Notes in exchange for temporary Notes.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Holders of temporary Notes shall be entitled to all of the benefits of this Indenture.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730645"></a><font style="font-weight: bold;">Section 2.12</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Cancellation.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any
          Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation. The Company may not issue
          new Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation. Cancelled Notes shall be disposed of by the Trustee (subject to the record retention requirement of the Exchange Act) pursuant to its
          standard procedures and, upon request by the Company, the Trustee shall deliver a certificate or other evidence of such disposition.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730646"></a><font style="font-weight: bold;">Section 2.13</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Defaulted Interest.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If the Company defaults in a payment of interest on a Series of Notes, it shall pay the defaulted interest in any lawful manner plus, to
          the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders of the Series on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company shall notify
          the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Company shall fix or cause to be fixed each such special record date and payment date, <font style="font-style: italic;">provided</font> that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special
          record date, the Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed (or, in the case of the Depositary with respect to any Global Note, sent
          electronically) to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">10</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-size: 10pt;"><a name="z_Toc40730647"></a><font style="font-weight: bold;">Section 2.14</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Global Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Terms of Notes</u>. A Board Resolution, a supplemental indenture hereto, or an Officer&#8217;s Certificate shall establish whether the Notes of a Series shall be issued in whole or in
              part in the form of one or more Global Notes and shall name the Depositary for such Global Note or Notes. Except as provided herein, each Global Note shall be (i) registered in the name of the Depositary, (ii) deposited with the Depositary or
              its nominee, and (iii) bear the legend indicated in Section 2.14(c).</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Transfer and Exchange</u>. Notwithstanding any provisions to the contrary contained in Section 2.07 and in addition thereto, any Global Note shall be exchangeable pursuant to
              Section 2.07 for Notes registered in the names of Holders other than the Depositary for such Note or its nominee only if (i) such Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such Global Note or
              if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to appoint a successor Depositary registered as a clearing agency under the Exchange Act within 90 days of
              such event, (ii) the Company executes and delivers to the Trustee an Officer&#8217;s Certificate to the effect that such Global Note shall be so exchangeable or (iii) an Event of Default with respect to the Notes represented by such Global Note
              shall have happened and be continuing. Any Global Note that is exchangeable pursuant to the preceding sentence shall be exchangeable for Notes registered in such names as the Depositary shall direct in writing in an aggregate principal amount
              equal to the principal amount of the Global Note with like tenor and terms.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Except as provided in this Section 2.14(b), a Global Note may not be transferred except as a whole by the Depositary with respect to such
          Global Note to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary, or any such nominee to a successor Depositary or a nominee of such a successor Depositary.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Legend</u>. Any Global Note issued hereunder shall bear a legend in substantially the following form:</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt; font-size: 10pt;">&#8220;This Note is a Global Note within the meaning of the Indenture hereinafter referred to and is registered in the name of
          the Depositary or a nominee of the Depositary. This Note is exchangeable for Notes registered in the name of a person other than the Depositary or its nominee only in the limited circumstances described in the Indenture, and may not be
          transferred except as a whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee
          of such a successor Depositary.&#8221;</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Acts of Holders</u>. The Depositary, as a Holder, may appoint agents and otherwise authorize participants to give or take any request, demand, authorization, direction, notice,
              consent, waiver or other action which a Holder is entitled to give or take under this Indenture. The record date for purposes of determining the identity of Holders entitled to vote or consent to any action by vote or consent authorized or
              permitted under this Indenture may be determined as provided for in Section 316(c) of the TIA.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Payments</u>. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.02, payment of the principal of and interest, if any,
              on any Global Note shall be made to the Holder thereof. Prior to due presentment of a Note for registration of transfer, the Company, the Trustee, and any agent of the Company or the Trustee may treat the Person in whose name such Note is
              registered as the owner of such Note at the close of business on the regular record date for the purpose of receiving payment of principal of and any premium and (subject to Section 2.13) any interest on such Note and for all other purposes
              whatsoever, whether or not such Note shall be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee will be affected by notice to the contrary.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Consents, Declaration and Directions</u>. Except as provided in Section 2.14(e), the Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount
              of outstanding Notes of such Series represented by a Global Note as shall be specified in a written statement of the Depositary with respect to such Global Note, for purposes of obtaining any consents, declarations, waivers or directions
              required to be given by the Holders pursuant to this Indenture.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">11</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Responsibility of Trustee or Agents</u>. Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the Depositary. The Company has
              entered into a letter of representations with the Depositary in the form provided by the Depositary and the Trustee and each Agent is hereby authorized to act in accordance with such letter and the Applicable Procedures.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730648"></a><font style="font-weight: bold;">Section 2.15</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">CUSIP Number.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company in issuing the Notes may use &#8220;CUSIP&#8221; numbers (if then generally in use), and, if so, the Trustee shall use CUSIP numbers in
          notices as a convenience to Holders; <font style="font-style: italic;">provided</font> that any such notice may state that no representation is made as to the correctness of such numbers either as
          printed on the Notes or as contained in any notice and that reliance may be placed only on the other identification numbers printed on the Notes, and any such notice shall not be affected by any defect in or the omission of such numbers. The
          Company shall promptly notify the Trustee in writing of any change in the CUSIP numbers.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;"><a name="z_Toc40730649"></a>ARTICLE 3</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">REDEMPTION AND PREPAYMENT</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730650"></a><font style="font-weight: bold;">Section 3.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Notice to Trustee.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company may, with respect to any Series of Notes, reserve the right to redeem and pay the Series of Notes or may covenant to redeem and
          pay the Series of Notes or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Notes. If a Series of Notes is redeemable and the Company wants or is obligated to redeem prior to the Stated
          Maturity thereof all or part of the Series of Notes pursuant to the terms of such Notes, it shall notify the Trustee in writing of the redemption date and the principal amount of Series of Notes to be redeemed. The Company shall give the notice
          at least 15 days prior to the mailing or sending of notice of redemption to the Holders of the Notes to be redeemed (or such shorter notice as may be acceptable to the Trustee).</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730651"></a><font style="font-weight: bold;">Section 3.02</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Selection of Notes to Be Redeemed.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If less than all of the Notes of a Series are to be redeemed or purchased in an offer to purchase at any time, the Trustee (subject to the
          applicable procedures of the Depositary) shall select the Notes of a Series to be redeemed or purchased among the Holders of the Notes (a) in compliance with the requirements of the principal national securities exchange, if any, on which the
          Notes are listed or, (b) if the Notes are not so listed, on a <font style="font-style: italic;">pro rata</font> basis, by lot or in accordance with any other method the Trustee considers fair and
          appropriate.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee shall promptly notify the Company in writing of the Notes selected for redemption and, in the case of any Note selected for
          partial redemption, the principal amount thereof to be redeemed. Notes of a Series and portions of them selected shall be in amounts of no less than $2,000 and whole multiples of $1,000 in excess thereof, or with respect to Notes of any Series
          issuable in other denominations pursuant to Section 2.02(j), the minimum principal denomination for each Series and integral multiples thereof. Except as provided in the preceding sentence, provisions of this Indenture that apply to Notes of a
          Series called for redemption or repurchase also apply to portions of Notes of a Series called for redemption or repurchase.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730652"></a><font style="font-weight: bold;">Section 3.03</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Notice of Redemption.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officer&#8217;s Certificate, at
          least 30 days but not more than 60 days before a redemption date, the Company shall mail or cause to be mailed, by first class mail, or, in the case of the Depositary with respect to any Global Note, sent electronically, a notice of redemption to
          each Holder whose Notes are to be redeemed at its registered address.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The notice shall identify the Notes of the Series to be redeemed and shall state:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              redemption date;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">12</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              redemption price (or manner of calculation if not then known);</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              name and address of the Paying Agent;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;that
              Notes of the Series called for redemption must be surrendered to the Paying Agent to collect the redemption price;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;that
              interest on Notes of the Series called for redemption ceases to accrue on and after the redemption date;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(6)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              CUSIP number, if any, provided that no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the Notes;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(7)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              conditions precedent, if any, to the redemption; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(8)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
              other information as may be required by the terms of the particular Series of the Notes or the Notes of a Series being redeemed.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">At the Company&#8217;s request, and upon receipt of an Officer&#8217;s Certificate complying with Section 11.04 hereof at least 15 days prior to the
          date notice is to be given (unless a shorter period shall be satisfactory to the Trustee), together with the notice to be given setting forth the information to be stated therein as provided in the preceding paragraph, the Trustee shall give the
          notice of redemption in the Company&#8217;s name and at its expense.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730653"></a><font style="font-weight: bold;">Section 3.04</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Effect of Notice of Redemption.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Once notice of redemption is sent in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and payable on
          the redemption date at the redemption price. Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officer&#8217;s Certificate, a notice of redemption may not be conditional.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730654"></a><font style="font-weight: bold;">Section 3.05</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Deposit of Redemption Price.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">At least one Business Day prior to the redemption date, the Company shall deposit with the Trustee or with the Paying Agent money
          sufficient to pay the redemption price of and accrued interest on all Notes to be redeemed on that date. The Trustee or the Paying Agent shall promptly return to the Company any money deposited with the Trustee or the Paying Agent by the Company
          in excess of the amounts necessary to pay the redemption price of, and accrued interest on, all Notes to be redeemed.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If the Company complies with the provisions of the preceding paragraph, on and after the redemption date, interest shall cease to accrue on
          the Notes or the portions of Notes called for redemption. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure of the Company to comply with the preceding paragraph, interest shall be paid on
          the unpaid principal, from the redemption date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01 hereof.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730655"></a><font style="font-weight: bold;">Section 3.06</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Notes Redeemed in Part.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Upon surrender of a Note that is redeemed in part, the Company shall issue and, upon the Company&#8217;s written request, the Trustee shall
          authenticate for the Holder, or transfer by book-entry, at the expense of the Company, a new Note equal in principal amount to the unredeemed portion of the Note surrendered.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">No Notes of $2,000 or less can be redeemed in part (or with respect to Notes of any Series issuable in other denominations pursuant to
          Section 2.02(j), the minimum denomination for each Series and integral multiples thereof).</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">13</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;"><a name="z_Toc40730656"></a>ARTICLE 4</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">COVENANTS</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730657"></a><font style="font-weight: bold;">Section 4.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Payment of Principal and Interest.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company covenants and agrees for the benefit of the Holders of each Series of Notes that it will pay or cause to be paid the principal
          of, premium, if any, and interest on such Series of Notes on the dates and in the manner provided in such Notes. Principal, premium, if any, and interest on any Series of Notes will be considered paid on the date due if the Paying Agent, if other
          than the Company or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest then
          due.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730658"></a><font style="font-weight: bold;">Section 4.02</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Maintenance of Office or Agency.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company covenants and agrees for the benefit of the Holders of each Series of Notes that it will maintain an office or agency (which
          may be an office of the Trustee for such Notes or an affiliate of the Trustee, Registrar for such Notes or co-registrar) where Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the
          Company in respect of such Notes and this Indenture may be served. The Company will give prompt written notice to the Trustee for such Notes of the location, and any change in the location, of such office or agency. If at any time the Company
          fails to maintain any such required office or agency or fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">With respect to each Series of Notes, the Company hereby designates the Corporate Trust Office of the Trustee as one such office or agency
          of the Company in accordance with Section 2.04.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730659"></a><font style="font-weight: bold;">Section 4.03</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Reports.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company will at all times comply with Section 314(a) of the TIA. Delivery of such reports, information and documents to the Trustee is
          for informational purposes only and the Trustee&#8217;s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company&#8217;s compliance with any of its
          covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer&#8217;s Certificates).</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730660"></a><font style="font-weight: bold;">Section 4.04</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Compliance Certificate.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company and each guarantor of any Series of Notes (to the extent that such guarantor is so required under the TIA) shall deliver to the
          Trustee with respect to such Series, within 120 days after the end of each fiscal year, an Officer&#8217;s Certificate that need not comply with Section 11.05 signed by the principal executive officer, the principal financial officer or the principal
          accounting officer, stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officer with a view to determining whether the Company has kept,
          observed, performed and fulfilled its obligations under this Indenture, and further stating, as to the Officer signing such certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and
          every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default shall have occurred, describing all such
          Defaults or Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by
          reason of which payments on account of the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730661"></a><font style="font-weight: bold;">Section 4.05</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Taxes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and
          governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">14</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-size: 10pt;"><a name="z_Toc40730662"></a><font style="font-weight: bold;">Section 4.06</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Stay, Extension and Usury Laws.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company covenants (to the extent that it may lawfully do so) that it will not, and each guarantor of such Notes will not, at any time
          insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this
          Indenture; and the Company and each of such guarantors (to the extent that it may lawfully do so), as applicable, hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder,
          delay or impede the execution of any power herein granted to the Trustee for such Notes, but will suffer and permit the execution of every such power as though no such law has been enacted.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730663"></a><font style="font-weight: bold;">Section 4.07</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Corporate Existence.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Subject to Articles 5 hereof, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the corporate,
              partnership or other existence of itself and each of its Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the rights
              (charter and statutory), licenses and franchises of the Company and its Subsidiaries; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that the Company shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any of its Subsidiaries, if an Officer shall determine that
              the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any material respect to the Holders of the Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;"><a name="z_Toc40730664"></a>ARTICLE 5</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">SUCCESSORS</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730665"></a><font style="font-weight: bold;">Section 5.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Merger, Consolidation, or Sale of Assets.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company shall not, directly or indirectly:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;merge or
              consolidate with or into another Person or Persons; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;sell, convey,
              transfer, lease or otherwise dispose of all or substantially all of the properties or assets of the Company and its Subsidiaries, taken as a whole, in one or more related transactions, to another Person or Persons, unless:</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;either:</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-size: 10pt;">(A)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the
              transaction is a merger or consolidation and the Company is the surviving entity; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-size: 10pt;">(B)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the
              Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, conveyance, transfer, lease or other disposition has been made is a corporation, limited liability company, partnership, trust
              or other entity organized and existing under the laws of the United States, any state of the United States or the District of Columbia and expressly assumes all the obligations of the Company under the Notes and this Indenture pursuant to a
              supplemental indenture in form reasonably satisfactory to the Trustee;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;immediately
              after giving effect to such transaction and treating the Company&#8217;s obligations in connection with or as a result of such transaction as having been incurred as of the time of such transaction, no Default or Event of Default shall have
              occurred and be continuing; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">15</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              Company or the surviving entity shall have delivered to the Trustee (a) an Officer&#8217;s Certificate stating that the conditions in (1) and (2) above have been satisfied and any other conditions precedent in this Indenture relating to such
              transaction have been satisfied and (b) an Opinion of Counsel stating that the conditions in (1) above have been satisfied and any other conditions precedent in this Indenture relating to such transaction have been satisfied.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730666"></a><font style="font-weight: bold;">Section 5.02</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Successor Corporation Substituted.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Upon any merger or consolidation, or any sale, conveyance, transfer, lease or other disposition of all or substantially all of the
          properties or assets of the Company and its Subsidiaries, taken as a whole, in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof, the successor Person into which the Company is merged or formed by
          such consolidation or to which such sale, conveyance, transfer, lease or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such merger, consolidation, sale, conveyance, transfer, lease or other
          disposition, the provisions of this Indenture referring to the &#8220;Company&#8221; shall refer instead to the successor Person and not to the Company), and may exercise every right and power of the Company under this Indenture with the same effect as if
          such successor Person had been named as the Company herein, and (except in the case of a lease) when the successor Person duly assumes all the obligations of the Company under the Notes and this Indenture, the predecessor Company shall be
          relieved from all such obligations.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;"><a name="z_Toc40730667"></a>ARTICLE 6</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">DEFAULTS AND REMEDIES</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730668"></a><font style="font-weight: bold;">Section 6.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Events of Default.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">&#8220;<u>Event of Default</u>,&#8221; wherever used herein with respect to Notes of any
          Series, means any one of the following events, unless in the establishing Board Resolution, supplemental indenture or Officer&#8217;s Certificate, it is provided that such Series shall not have the benefit of said Event of Default:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;default in the
              payment of any interest on any Note of that Series when it becomes due and payable, and continuance of such default for a period of 30 days; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;default in payment
              when due of the principal of, or premium, if any, on any Note of that Series; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;default in the
              performance or breach of any covenant or warranty of the Company in this Indenture or in any Board Resolution, supplemental indenture or Officer&#8217;s Certificate with respect to such Series (other than a covenant or warranty that has been
              included in this Indenture or a Board Resolution, supplemental indenture or Officer&#8217;s Certificate solely for the benefit of Series of Notes other than that Series), which default continues uncured for a period of 90 days after (i) the Company
              receives written notice from the Trustee for such Notes or (ii) the Company and the Trustee receive written notice from Holders of not less than 25% in aggregate principal amount of Notes of that Series outstanding; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Company or any
              of its Significant Subsidiaries:</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;commences
              a voluntary case in bankruptcy,</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;consents
              to the entry of an order for relief against it in an involuntary bankruptcy case,</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;applies
              for or consents to the appointment of any custodian, receiver, trustee, conservator, liquidator, rehabilitator or similar officer of it or a Significant Subsidiary or for all or substantially all of any of its property,</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;makes
              a general assignment for the benefit of its creditors, or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;generally
              is unable to pay its debts as they become due;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a court of
              competent jurisdiction enters an order or decree under any Bankruptcy Law that:</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;is
              for relief against the Company or any of its Significant Subsidiaries;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">16</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;appoints
              a custodian of the Company or any of its Significant Subsidiaries or for all or substantially all of the property of the Company or any of its Significant Subsidiaries; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;orders
              the winding up or liquidation of the Company or any of its Significant Subsidiaries;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="margin-left: 36pt; font-size: 10pt;">and the order or decree remains unstayed and in effect for 60 consecutive days; or</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any other Event of
              Default provided with respect to Notes of that Series, which is specified in a Board Resolution, a supplemental indenture hereto or an Officer&#8217;s Certificate, in accordance with Section 2.02.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company shall deliver to the Trustee promptly after becoming aware of the occurrence thereof, written notice in the form of an
          Officer&#8217;s Certificate of any event which with the giving of notice and the lapse of time would become an Event of Default under clause (c) or (f), its status and what action the Company is taking or proposes to take with respect thereto.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730669"></a><font style="font-weight: bold;">Section 6.02</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Acceleration.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If an Event of Default with respect to Notes of any Series at the time outstanding occurs and is continuing (other than an Event of Default
          referred to in Section 6.01(d) or (e)) (in either case with respect to the Company) then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the outstanding Notes of that Series may declare the
          principal amount (or, if any Notes of that Series are Discount Notes, such portion of the principal amount as may be specified in the terms of such Notes) of and accrued and unpaid interest, if any, on all of the Notes of that Series to be due
          and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately
          due and payable. If an Event of Default specified in Section 6.01(d) or (e) (in either case with respect to the Company) shall occur, the principal amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding Notes
          shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">At any time after such a declaration of acceleration with respect to any Series has been made, the Holders of a majority in principal
          amount of the outstanding Notes of that Series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if the rescission and annulment would not conflict with any judgment or decree already
          rendered and if all existing Events of Default with respect to that Series (except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or waived and all sums paid or advanced by the
          Trustee hereunder and the reasonable compensation expenses and disbursements of the Trustee and its agents and counsel have been paid.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">No such rescission shall affect any subsequent Event of Default or impair any right consequent thereon.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730670"></a><font style="font-weight: bold;">Section 6.03</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Other Remedies.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If an Event of Default with respect to Notes of any Series at the time outstanding occurs and is continuing, the Trustee may pursue any
          available remedy to collect the payment of principal, premium, if any, and interest on such Notes or to enforce the performance of any provision of such Notes or this Indenture.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A
          delay or omission by the Trustee or any Holder of a Note in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
          cumulative to the extent permitted by law.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730671"></a><font style="font-weight: bold;">Section 6.04</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Waiver of Past Defaults.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Prior to the acceleration of the maturity of the Notes of any Series as provided in Section 6.02, the Holders of a majority in aggregate
          principal amount of the Notes of any Series then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes of such Series waive any existing Default or Event of Default with respect to such Series and its consequences
          under this Indenture except (i) a continuing Default or Event of Default in the payment of premium or interest on, or the principal of, the Notes of such Series (including in connection with an offer to purchase) or (ii) a Default or Event of
          Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Holder affected thereby. Upon any such waiver, such Default or Event of Default shall cease to exist, and any Event of Default arising
          therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">17</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-size: 10pt;"><a name="z_Toc40730672"></a><font style="font-weight: bold;">Section 6.05</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Control by Majority.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Holders of a majority in aggregate principal amount of the then outstanding Notes of any Series may in writing direct the time, method and
          place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it, subject to Section 7.02(f). However, the Trustee may refuse to follow any direction that conflicts with law or
          this Indenture that the Trustee determines may be unduly prejudicial to the rights of other Holders of Notes of such Series (it being understood that the Trustee does not have an affirmative duty to ascertain whether any such directions are
          unduly prejudicial to such Holders) or that may involve the Trustee in personal liability. The Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730673"></a><font style="font-weight: bold;">Section 6.06</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Limitation on Suits.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">A Holder of any Series of Notes may pursue a remedy with respect to this Indenture or the Notes only if:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Holder of a
              Note gives to the Trustee written notice of a continuing Event of Default;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Holders of at
              least 25% in aggregate principal amount of the then outstanding Notes of such Series make a written request to the Trustee to pursue the remedy;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;such Holder of a
              Note or Holders of Notes offer and, if requested, provide to the Trustee security or indemnity satisfactory to the Trustee against any loss, liability or expense;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Trustee does
              not comply with the request within 60 days after receipt of the request and the offer and, if requested, the provision of security or indemnity; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;during such 60-day
              period the Holders of a majority in aggregate principal amount of the then outstanding Notes of such Series do not give the Trustee a direction inconsistent with the request.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">A Holder of any Series of Notes may not use this Indenture to prejudice the rights of another Holder of Notes or to obtain a preference or
          priority over another Holder of Notes.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730674"></a><font style="font-weight: bold;">Section 6.07</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Rights of Holders of Notes to Receive Payment.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to receive payment of principal, premium, if any,
          and interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be
          impaired or affected without the consent of such Holder.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730675"></a><font style="font-weight: bold;">Section 6.08</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Collection Suit by Trustee.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If an Event of Default specified in Section 6.01 (a) or (b) hereof occurs and is continuing, the Trustee is authorized to recover judgment
          in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium, if any, and interest remaining unpaid on, the Notes and interest on overdue principal and, to the extent lawful, interest and
          such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">18</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-size: 10pt;"><a name="z_Toc40730676"></a><font style="font-weight: bold;">Section 6.09</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Trustee May File Proofs of Claim.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee for each Series of Notes is authorized to file such proofs of claim and other papers or documents as may be necessary or
          advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders of the Notes of such Series allowed in any
          judicial proceedings relative to the Company (or any other obligor upon the Notes of such Series), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or
          deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder of such Series 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 such Series, 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 7.07 hereof. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in any
          such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders of such Series may be
          entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on
          behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730677"></a><font style="font-weight: bold;">Section 6.10</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Priorities.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If the Trustee collects any money or property with respect to a Series of Notes pursuant to this Article 6, or, after an Event of Default,
          any money or other property distributable in respect of the Company&#8217;s obligations under this Indenture, it shall pay out the money or property in the following order:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt; font-size: 10pt;"><font style="font-style: italic;">First</font>: to the Trustee, its agents and attorneys for amounts due under Section 7.07 hereof applicable to the Notes of such Series, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee
            and the costs and expenses of collection;</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt; font-size: 10pt;"><font style="font-style: italic;">Second</font>: to Holders of Notes of such Series for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for
            principal, premium, if any, and interest, respectively; and</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt; font-size: 10pt;"><font style="font-style: italic;">Third</font>: to the Company or to such party as a court of competent jurisdiction shall direct.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730678"></a><font style="font-weight: bold;">Section 6.11</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Undertaking for Costs.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">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 or
          omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable
          attorneys&#8217; fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder of
          a Note pursuant to Section 6.07 hereof, or a suit by Holders or group of Holders of more than 10% in principal amount of the then outstanding Notes of any Series.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730679"></a><font style="font-weight: bold;">Section 6.12</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Restoration of Rights and Remedies.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been
          discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee, and the Holders will be restored
          severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders will continue as though no such proceeding had been instituted.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">19</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;"><a name="z_Toc40730680"></a>ARTICLE 7</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">TRUSTEE</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730681"></a><font style="font-weight: bold;">Section 7.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Duties of Trustee.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If an Event of
              Default has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the
              circumstances in the conduct of such person&#8217;s own affairs.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except during the
              continuance of an Event of Default, the duties of the Trustee will be determined solely by the express provisions of this Indenture and the Trustee need perform only those duties that are specifically set forth in this Indenture and no
              others, and no implied covenants or obligations shall be read into this Indenture against the Trustee.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In the absence of
              bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of
              this Indenture. However, the Trustee will examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or
              other facts stated thereon).</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Trustee may
              not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that:</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;this
              paragraph does not limit the effect of paragraph (b) of this Section 7.01;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05 hereof; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;no
              provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability. The Trustee will be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders,
              unless such Holder has offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Whether or not
              therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b), (c) and (d) of this Section 7.01.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Trustee will
              not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. The Trustee
              shall not be required to give any bond or surety in respect of the performance of its powers or duties hereunder. The permissive rights or powers of the Trustee to do things enumerated in this Indenture shall not be construed as a duty of the
              Trustee.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730682"></a><font style="font-weight: bold;">Section 7.02</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Rights of Trustee.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Trustee may
              conclusively rely upon any document (whether in its original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the
              document.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Before the Trustee
              acts or refrains from acting or as specifically called for in this Indenture, it may require an Officer&#8217;s Certificate or an Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits to take in good faith in
              reliance on such Officer&#8217;s Certificate or Opinion of Counsel. The Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel will be full and complete authorization and protection from liability in
              respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
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          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">20</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
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        </div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Trustee may
              act through its attorneys and agents and will not be responsible for the misconduct or negligence of any attorney or agent appointed with due care.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Trustee will
              not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unless otherwise
              specifically provided in this Indenture, any demand, request, direction or notice from the Company will be sufficient if signed by an Officer of the Company. Any resolution of the Board of Directors may be sufficiently evidenced by a Board
              Resolution.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Trustee will
              be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to the Trustee
              against the losses, liabilities and expenses that might be incurred by it in compliance with such request or direction.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In no event shall
              the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation strikes, work
              stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services,
              or other unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking
              industry to resume performance as soon as practicable under the circumstances.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In no event shall
              the Trustee be responsible or liable for special, indirect, 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.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The rights,
              privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be compensated, reimbursed, and indemnified, are extended to, and shall be enforceable by, the Trustee in each of its
              capacities hereunder, and each agent, custodian and other Person employed to act hereunder.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Trustee shall
              not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of a Default or Event of Default from the Company or by the Holders of at least
              25% in aggregate principal amount of the then outstanding Notes of such Series is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;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.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Trustee will
              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, other evidence of indebtedness,
              or other paper or document, or inquire as to the performance by the Company or any guarantor of any of their covenants in this Indenture, 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 will be entitled to examine the books, records, and premises of the Company or any such guarantor, personally or by agent or
              attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730683"></a><font style="font-weight: bold;">Section 7.03</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Individual Rights of Trustee.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any
          Affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest as defined in the TIA it must eliminate such conflict within 90 days, apply to the SEC
          for permission to continue as trustee (if this Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">21</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
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        </div>
        <div style="font-size: 10pt;"><a name="z_Toc40730684"></a><font style="font-weight: bold;">Section 7.04</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Trustee&#8217;s Disclaimer.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee will not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, it shall
          not be accountable for the Company&#8217;s use of the proceeds from the Notes or any money paid to the Company or upon the Company&#8217;s direction under any provision of this Indenture, it will not be responsible for the use or application of any money
          received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture
          other than its certificate of authentication. Under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by any Notes.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730685"></a><font style="font-weight: bold;">Section 7.05</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Notice of Defaults.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If a Default or Event of Default occurs and is continuing and if it is known to the Trustee, the Trustee will mail to Holders of Notes a
          notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium, if any, or interest on, any Note, the Trustee may withhold the notice from Holders
          of the Notes if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders of the Notes.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730686"></a><font style="font-weight: bold;">Section 7.06</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Reports by Trustee to Holders of the Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Within 60 days
              after each December 15 beginning with the December 15 following the first issuance of Notes under this Indenture, and for so long as Notes remain outstanding, the Trustee will mail to the Holders of the Notes a brief report dated as of such
              reporting date that complies with Section 313(a) of the TIA (but if no event described in Section 313(a) of the TIA has occurred within the twelve months preceding the reporting date, no report need be transmitted). The Trustee also will
              comply with Section 313(b)(2) of the TIA. The Trustee will also transmit by mail all reports as required by Section 313(c) of the TIA.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A copy of each
              report at the time of its mailing to the Holders of Notes will be mailed by the Trustee to the Company and filed by the Trustee with the SEC and each stock exchange on which the Notes are listed in accordance with Section 313(d) of the TIA.
              The Company will promptly notify the Trustee when the Notes are listed on any stock exchange or delisted therefrom.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730687"></a><font style="font-weight: bold;">Section 7.07</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Compensation and Indemnity.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company will
              pay to the Trustee from time to time such compensation for its acceptance of this Indenture and services hereunder as the Trustee and the Company may agree from time to time in writing. The Trustee&#8217;s compensation will not be limited by any
              law on compensation of a trustee of an express trust. The Company will reimburse the Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred or made by it in addition to the compensation for its
              services. Such expenses will include the reasonable compensation, disbursements and expenses of the Trustee&#8217;s agents and counsel.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company will
              indemnify the Trustee, its officers, directors, employees, representatives and agents from and against any and all losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance or administration of its
              duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Company (including this Section 7.07) and defending itself against any claim (whether asserted by the Company, any Holder or any other
              Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its negligence or willful misconduct as finally
              adjudicated by a court of competent jurisdiction. The Trustee will notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company will not relieve the Company of its obligations
              hereunder. The Company will defend the claim and the Trustee will cooperate in the defense. The Trustee may have separate counsel and the Company will pay the reasonable fees and expenses of such counsel. The Company need not pay for any
              settlement made without its consent, which consent will not be unreasonably withheld.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">22</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
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        </div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The obligations of
              the Company under this Section 7.07 will survive the resignation or removal of the Trustee and the satisfaction and discharge of this Indenture.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To secure the
              Company&#8217;s payment obligations in this Section 7.07, the Trustee will have a Lien prior to the Notes on all money or property held or collected by the Trustee. Such Lien will survive the resignation or removal of the Trustee and the
              satisfaction and discharge of this Indenture.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;When the Trustee
              incurs expenses or renders services after an Event of Default specified in Section 6.01(e) or (f) hereof occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to
              constitute expenses of administration under any Bankruptcy Law.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Trustee will
              comply with the provisions of Section 313(b)(2) of the TIA to the extent applicable.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Trustee&#8221; for the
              purposes of this Section 7.07 shall include any predecessor Trustee and the Trustee in each of its capacities hereunder and each agent, custodian and other person employed to act hereunder; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that the negligence or willful misconduct of any Trustee hereunder shall not affect the rights
              of any other Trustee hereunder.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730688"></a><font style="font-weight: bold;">Section 7.08</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Replacement of Trustee.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A resignation or
              removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee&#8217;s acceptance of appointment as provided in this Section 7.08.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Trustee may
              resign in writing at any time and be discharged from the trust hereby created with respect to one or more Series of Notes by so notifying the Company with 30 days prior notice. The Holders of a majority in aggregate principal amount of the
              then outstanding Notes of such Series may remove the Trustee by so notifying the Trustee and the Company with 30 days prior notice in writing. The Company may remove the Trustee with respect to one or more Series of Notes with 30 days prior
              written notice if:</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              Trustee fails to comply with Section 7.10 hereof;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a
              custodian or public officer takes charge of the Trustee or its property; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              Trustee becomes incapable of acting.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If the Trustee
              resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company will promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate
              principal amount of the then outstanding Notes of such Series may appoint a successor Trustee to replace the successor Trustee appointed by the Company.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If a successor
              Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes of such Series may
              petition any court of competent jurisdiction, at the expense of the Company, for the appointment of a successor Trustee.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If the Trustee,
              after written request by any Holder who has been a Holder for at least six months, fails to comply with Section 7.10 hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a
              successor Trustee.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A successor
              Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights,
              powers and duties of the Trustee under this Indenture. The successor Trustee will mail or send a notice of its succession to Holders. The retiring Trustee will promptly transfer all properly held by it as Trustee to the successor Trustee; <font style="font-style: italic;">provided</font> all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the
              Trustee pursuant to this Section 7.08, the Company&#8217;s obligations under Section 7.07 hereof will continue for the benefit of the retiring Trustee.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">23</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-size: 10pt;"><a name="z_Toc40730689"></a><font style="font-weight: bold;">Section 7.09</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Successor Trustee by Merger, etc.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
          corporation, the successor corporation without any further act will be the successor Trustee.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730690"></a><font style="font-weight: bold;">Section 7.10</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Eligibility; Disqualification.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of
          America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at least $100.0
          million as set forth in its most recent published annual report of condition.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">This Indenture will always have a Trustee who satisfies the requirements of Sections 310(a)(1), (2) and (5) of the TIA. The Trustee is
          subject to Section 310(b) of the TIA. There shall be excluded from the operation of Section 310(b)(1) of the TIA any series of Notes under this Indenture if the requirements for such exclusion set forth in Section 310(b)(1) of the TIA are met.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730691"></a><font style="font-weight: bold;">Section 7.11</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Preferential Collection of Claims Against Company.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee is subject to Section 311(a) of the TIA, excluding any creditor relationship listed in Section 311(b) of the TIA. A Trustee who
          has resigned or been removed shall be subject to Section 311(a) of the TIA to the extent indicated therein.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;"><a name="z_Toc40730692"></a>ARTICLE 8</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">LEGAL DEFEASANCE AND COVENANT DEFEASANCE</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730693"></a><font style="font-weight: bold;">Section 8.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Option to Effect Legal Defeasance or Covenant Defeasance.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officer&#8217;s Certificate, elect
          to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730694"></a><font style="font-weight: bold;">Section 8.02</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Legal Defeasance and Discharge.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Upon the Company&#8217;s exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Company will, subject to the
          satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from its obligations with respect to all outstanding Notes of such Series on the date the conditions set forth below are satisfied (hereinafter, &#8220;<u>Legal Defeasance</u>&#8221;). For this purpose, Legal Defeasance means that the Company will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding
          Notes of such Series, which will thereafter be deemed to be &#8220;outstanding&#8221; only for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in clauses (a) and (b) below, and to have satisfied all their other
          obligations under such Notes and this Indenture (and the Trustee, on written demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which will survive until
          otherwise terminated or discharged hereunder:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the rights of
              Holders of outstanding Notes to receive payments in respect of the principal of, or interest or premium, if any, on, such Notes when such payments are due from the trust referred to in Section 8.04 hereof;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Company&#8217;s
              obligations with respect to such Notes under Article 2 and Section 4.02 hereof;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the rights,
              powers, trusts, duties and immunities of the Trustee hereunder and the Company&#8217;s obligations in connection therewith; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">24</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;this Article 8.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Subject to compliance with this Article 8, the Company may exercise its option under this Section 8.02 notwithstanding the prior exercise
          of its option under Section 8.03 hereof.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730695"></a><font style="font-weight: bold;">Section 8.03</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Covenant Defeasance.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Upon the Company&#8217;s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Company and each of the
          guarantors, if any, will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from their obligations under the covenants contained in Section 4.03 and any other covenants specified in the applicable Board
          Resolutions, supplemental indenture or Officer&#8217;s Certificate as being subject to covenant defeasance pursuant to this Section 8.03, in each case, with respect to the outstanding Notes of the applicable Series on and after the date the conditions
          set forth in Section 8.04 are satisfied (hereinafter, &#8220;<u>Covenant Defeasance</u>&#8221;), and the Notes shall thereafter be deemed not &#8220;outstanding&#8221; for the purposes of any direction,
          waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed &#8220;outstanding&#8221; for all other purposes hereunder (it being understood that such Notes shall
          not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes 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 covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any
          other document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. In addition,
          upon the Company&#8217;s exercise under Section 8.01 hereof of the option applicable to this Section 8.03 hereof, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, (i) the failure to comply with any such covenants shall
          not constitute an Event of Default pursuant to Section 6.01(d) and (ii) Section 6.01(f) (with respect to Significant Subsidiaries only) and (g) (with respect to Significant Subsidiaries only) shall not constitute an Event of Default.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730696"></a><font style="font-weight: bold;">Section 8.04</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Conditions to Legal or Covenant Defeasance.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Company must
              irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in Dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be sufficient, in the written opinion of a nationally
              recognized investment bank, appraisal firm, or firm of independent public accountants delivered to the Trustee, to pay the principal of, premium, if any, and interest on, the outstanding Notes on the stated date for payment thereof or on the
              applicable redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to such stated date for payment or to a particular redemption date;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;in the case of an
              election under Section 8.02 hereof, the Company must deliver to the Trustee an Opinion of Counsel confirming that:</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
              Company has received from, or there has been published by, the Internal Revenue Service a ruling; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;since
              the date of this Indenture, there has been a change in the applicable federal income tax law,</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="margin-left: 36pt; font-size: 10pt;">in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the beneficial owners of the outstanding
          Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Legal 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 Legal Defeasance had not occurred;</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">25</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;in the case of an
              election under Section 8.03 hereof, the Company must deliver to the Trustee an Opinion of Counsel confirming that the beneficial owners of the outstanding Notes 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;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;no Default or
              Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or
              violation of, or constitute a default under, any other instrument to which the Company is a party or by which the Company is bound;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;such Legal
              Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by
              which the Company or any of its Subsidiaries is bound;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Company must
              deliver to the Trustee an Officer&#8217;s Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders of Notes over the other creditors of the Company with the intent of defeating, hindering, delaying
              or defrauding any creditors of the Company or others; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Company must
              deliver to the Trustee an Officer&#8217;s Certificate and an Opinion of Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730697"></a><font style="font-weight: bold;">Section 8.05</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Subject to Section 8.06 hereof, all money and non-callable Government Securities (including the proceeds thereof) deposited with the
          Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the &#8220;<u>Trustee</u>&#8221;) pursuant to Section 8.04 hereof in respect of the outstanding Notes of any
          Series will be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee
          may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable
          Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes of the
          applicable Series.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to the Company from time to time upon the
          request of the Company any money or non-callable Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification
          thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(a) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730698"></a><font style="font-weight: bold;">Section 8.06</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Repayment to Company.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of,
          premium, if any, or interest on, any Series of Notes and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall, subject to applicable abandoned property law, be paid to the Company
          on its request or (if then held by the Company) will be discharged from such trust; and the Holder of such Note will thereafter be permitted to look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent
          with respect to such trust money, and all liability of the Company as trustee thereof, will thereupon cease; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in <font style="font-style: italic;">The New York Times</font> and <font style="font-style: italic;">The Wall Street Journal</font> (national edition), notice that such money remains unclaimed and
          that, after a date specified therein, which will not be less than 30 days from the date of such notification or publication, any unclaimed balance of such money then remaining will be repaid to the Company.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">26</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-size: 10pt;"><a name="z_Toc40730699"></a><font style="font-weight: bold;">Section 8.07</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Reinstatement.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If the Trustee or Paying Agent is unable to apply any Dollars or non-callable Government Securities in accordance with Section 8.02 or 8.03
          hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company&#8217;s and any applicable guarantors&#8217; obligations under this
          Indenture and the applicable Notes and the guarantees will be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in
          accordance with Section 8.02 or 8.03 hereof, as the case may be; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>,
          that, if the Company makes any payment of principal of, premium, if any, or interest on, any Note following the reinstatement of its obligations, the Company will be subrogated to the rights of the Holders of such Notes to receive such payment
          from the money held by the Trustee or Paying Agent.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;"><a name="z_Toc40730700"></a>ARTICLE 9</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">AMENDMENT, SUPPLEMENT AND WAIVER</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730701"></a><font style="font-weight: bold;">Section 9.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Without Consent of Holders of Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Notwithstanding Section 9.02 of this Indenture, the Company and the Trustee may amend or supplement this Indenture or the Notes of one or
          more Series without the consent of any Holder of Note:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to cure any
              ambiguity or to correct or supplement any provision contained herein or in any supplemental indenture that may be defective or inconsistent with any other provision contained herein or in any supplemental indenture, or to conform the
              provisions of this Indenture to the description of the Notes contained in the prospectus or other offering document pursuant to which the Notes of one or more Series were sold, as evidenced by an Officer&#8217;s Certificate stating that such text
              constitutes an unintended conflict with the description of the corresponding provision in the offering document;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to provide for
              uncertificated Notes in addition to or in place of certificated Notes;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to provide for the
              assumption of the Company&#8217;s obligations to the Holders of the Notes by a successor to the Company pursuant to Article 5 hereof;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to make any change
              that would provide any additional rights or benefits to the Holders of all or any Series of Notes or that does not adversely affect the rights hereunder of any Holder in any material respect, as evidenced by an Officer&#8217;s Certificate;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to comply with
              requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to provide for the
              issuance of and establish the form and terms and conditions of Notes of any Series as permitted by this Indenture;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to add guarantees
              with respect to the Notes of any Series or to provide security for the Notes of any Series; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to evidence and
              provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Notes of one or more Series and to 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.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Upon the request of the Company accompanied by a Board Resolution authorizing the execution of any such amended or supplemental indenture,
          and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Company in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make
          any further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Indenture
          or otherwise.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">27</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-size: 10pt;"><a name="z_Toc40730702"></a><font style="font-weight: bold;">Section 9.02</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">With Consent of Holders of Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority in
          aggregate principal amount of the outstanding Notes of each Series affected by such supplemental indenture (including consents obtained in connection with a tender offer or exchange offer for the Notes of such Series), 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 Notes of each such Series. Except as otherwise provided
          herein, the Holders of at least a majority in aggregate principal amount of the outstanding Notes of each Series, by notice to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Notes of such
          Series) may waive compliance by the Company with any provision of this Indenture or the Notes with respect to such Series.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">It shall not be necessary for the consent of the Holders of Notes under this Section 9.02 to approve the particular form of any proposed
          supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof. Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or
          supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the
          Trustee will join with the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee&#8217;s own rights, duties or immunities under this Indenture or otherwise, in
          which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">After a supplemental indenture or waiver under this section becomes effective, the Company shall mail or send to the Holders of Notes
          affected thereby a notice briefly describing the supplemental indenture or waiver. Any failure by the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental
          indenture or waiver. However, without the consent of each Holder affected, an amendment or waiver under this Section 9.02 may not, with respect to any Notes held by a non-consenting Holder:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;reduce the
              principal amount, any premium or change the Stated Maturity of any Note or alter or waive any of the provisions with respect to the redemption or repurchase of the Notes;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;reduce the rate
              (or alter the method of computation) of or extend the time for payment of interest, including defaulted interest, on any Note;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;waive a Default or
              Event of Default in the payment of principal of or premium, if any, or interest on the Notes, except a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding Notes
              of such Series with respect to a nonpayment default and a waiver of the payment default that resulted from such acceleration;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;make the principal
              of or premium, if any or interest on any Note payable in currency other than that stated in the Notes;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;change any place
              of payment where the Notes of any series or interest thereon is payable;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;make any change in
              the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders of the Notes to receive payments of principal of or premium, interest, if any, on the Notes and to institute suit for the enforcement of any such
              payments;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;make any change in
              the foregoing amendment and waiver provisions; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;reduce the
              percentage in principal amount of any Notes, the consent of the Holders of which is required for any of the foregoing modifications or otherwise necessary to modify or amend this Indenture or to waive any past Defaults.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730703"></a><font style="font-weight: bold;">Section 9.03</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">Compliance with Trust Indenture Act.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Every amendment to this Indenture or the Notes of one or more Series will be set forth in a supplemental indenture hereto that complies
          with the TIA as then in effect.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">28</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-size: 10pt;"><a name="z_Toc40730704"></a><font style="font-weight: bold;">Section 9.04</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Revocation and Effect of Consents.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Until an amendment or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a Note and
          every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder&#8217;s Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note may
          revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the amendment or waiver becomes effective. An amendment or waiver becomes effective in accordance with its terms and thereafter binds every
          Holder.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730705"></a><font style="font-weight: bold;">Section 9.05</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Notation on or Exchange of Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee may place an appropriate notation about an amendment or waiver on any Note of any Series thereafter authenticated. The Company
          in exchange for Notes of that Series may issue and the Trustee shall authenticate upon request new Notes of that Series that reflect the amendment or waiver.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Failure to make the appropriate notation or issue a new Note will not affect the validity and effect of such amendment or waiver.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730706"></a><font style="font-weight: bold;">Section 9.06</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Trustee to Sign Amendments, etc.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications
          thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 7.01) shall be fully protected in relying upon, an Officer&#8217;s Certificate and an Opinion of Counsel stating that the execution of
          such supplemental indenture is authorized or permitted by this Indenture, and an Opinion of Counsel stating that it will be the legal, valid and binding upon the Company in accordance with its terms, subject to customary exceptions. The Trustee
          shall sign all supplemental indentures, except that the Trustee need not sign any supplemental indenture that adversely affects its rights, duties, liabilities or immunities under this Indenture or otherwise.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;"><a name="z_Toc40730707"></a>ARTICLE 10</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">SATISFACTION AND DISCHARGE</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730708"></a><font style="font-weight: bold;">Section 10.01</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Satisfaction and Discharge.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">This Indenture will be discharged and will cease to be of further effect as to a Series of Notes issued hereunder, when:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;either:</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
              such Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment money has theretofore been deposited in trust and thereafter repaid to the Company, have been
              delivered to the Trustee for cancellation; or</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all
              such Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the sending of a notice of redemption or otherwise or will become due and payable within one year and the Company has irrevocably
              deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders of such Notes, cash in Dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be
              sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to the date of
              maturity or redemption;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;no Default or
              Event of Default has occurred and is continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or
              violation of, or constitute a default under, any other material instrument to which the Company or any guarantor, as applicable, is a party or by which the Company, or any guarantor, as applicable, is bound;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">29</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Company or any
              guarantor of such Notes has paid or caused to be paid all sums payable by it under this Indenture; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt;"><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Company has
              delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment of the Notes at maturity or on the redemption date, as the case may be.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">In addition, the Company must deliver an Officer&#8217;s Certificate and an Opinion of Counsel to the Trustee stating that all conditions
          precedent to satisfaction and discharge have been satisfied.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to subclause (2) of
          clause (a) of this Section 10.01, the provisions of Sections 10.02 and 8.06 hereof will survive. In addition, nothing in this Section 10.01 will be deemed to discharge those provisions of Section 7.07 hereof, that, by their terms, survive the
          satisfaction and discharge of this Indenture. After the conditions to discharge contained in this Article Ten have been satisfied, and the Company has paid or caused to be paid all other sums payable hereunder by the Company, and delivered to the
          Trustee an Officer&#8217;s Certificate and Opinion of Counsel, each stating that all conditions precedent to satisfaction and discharge have been satisfied, the Trustee upon Company request shall acknowledge in writing the discharge of the obligations
          of the Company (except for those surviving obligations specified in this Section 10.01 and the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Company&#8217;s obligations in connection therewith).</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730709"></a><font style="font-weight: bold;">Section 10.02</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Application of Trust Money.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 10.01 hereof shall be held in
          trust and applied by it, in accordance with the provisions of the Notes with respect to which such deposit was made and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying
          Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds
          except to the extent required by law.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with Section 10.01 hereof by reason of
          any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company&#8217;s and any applicable guarantor&#8217;s obligations under this Indenture and
          the applicable Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 10.01 hereof; <font style="font-style: italic;">provided</font> that if the Company has made any
          payment of principal of, premium, if any, or interest on, any Notes because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government
          Securities held by the Trustee or Paying Agent.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;"><a name="z_Toc40730710"></a>ARTICLE 11</div>
        <div style="text-align: center; font-size: 10pt; font-weight: bold;">MISCELLANEOUS</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730711"></a><font style="font-weight: bold;">Section 11.01</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Trust Indenture Act Controls.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Section 318(c) of the TIA, the imposed duties
          will control.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730712"></a><font style="font-weight: bold;">Section 11.02</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Notices.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Any notice or communication by the Company or the Trustee to the other is duly given if in writing and delivered in Person or by first
          class mail (registered or certified, return receipt requested), facsimile transmission or overnight air courier guaranteeing next day delivery, to the other&#8217;s address:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">30</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: -36pt; margin-left: 72pt; font-size: 10pt;">If to the Company:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt; margin-left: 72pt;">Innventure, Inc.</div>
        <div style="font-size: 10pt; margin-left: 72pt;">6900 Tavistock Lakes Blvd.</div>
        <div style="font-size: 10pt; margin-left: 72pt;">Orlando, Florida 32827</div>
        <div style="font-size: 10pt; margin-left: 72pt;">Attention: General Counsel</div>
        <div style="font-size: 10pt; margin-left: 72pt;">Telephone No.: (321) 209-6787</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 0pt; margin-left: 72pt; font-size: 10pt;">With a copy to:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">Jones Day</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">1221 Peachtree Street, N.E., Suite 400</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">Atlanta, Georgia 30361</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">Attention: Joel T. May, Esq.</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Thomas L. Short, Esq.</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">Telephone No.: (404) 521-3939</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: -36pt; margin-left: 72pt; font-size: 10pt;">If to the Trustee:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">[<font style="font-weight: bold;">&#160; &#160; &#160; </font>]</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">[<font style="font-weight: bold;">&#160; &#160; &#160; </font>]</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">[<font style="font-weight: bold;">&#160; &#160; &#160; </font>]</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">Attention: [<font style="font-weight: bold;">&#160; &#160; &#160; </font>]</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">Facsimile No.: [<font style="font-weight: bold;">&#160; &#160; &#160; </font>]</div>
        <div style="text-indent: -36pt; margin-left: 108pt; font-size: 10pt;">Telephone No.: [<font style="font-weight: bold;">&#160; &#160; &#160; </font>]</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Company or the Trustee, by notice to the other, may designate additional or different addresses for subsequent notices or
          communications.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">All notices and communications (other than those sent to Holders) will be deemed to have been duly given: at the time delivered by hand, if
          personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight
          air courier guaranteeing next day delivery.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Any notice or communication to a Holder will be mailed by first class mail, certified or registered, return receipt requested, or by
          overnight air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Any notice or communication will also be so mailed to any Person described in Section 313(c) of the TIA, to the extent required by
          the TIA. Failure to mail a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other Holders. Notwithstanding any other provision of this Indenture or any Global Note, where this Indenture or
          any Global Note provides for notice of any event (including any notice of redemption or repurchase) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary (or its designee)
          pursuant to the Applicable Procedures, including by electronic mail in accordance with the standing instructions from the Depositary.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the
          addressee receives it.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">If the Company mails a notice or communication to Holders, it will mail a copy to the Trustee and each Agent at the same time.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">31</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-indent: 18pt; font-size: 10pt;">The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf, facsimile
          transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such written instructions, subsequent to such transmission of written instructions, shall provide the originally executed instructions or
          directions to the Trustee in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the party providing such instructions or directions. If the party elects to give the
          Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee&#8217;s understanding of such instructions shall be deemed controlling. The
          Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee&#8217;s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent
          written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the
          Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730713"></a><font style="font-weight: bold;">Section 11.03</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Communication by Holders of Notes with Other Holders of Notes.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Holders may communicate pursuant to Section 312(b) of the TIA with other Holders with respect to their rights under this Indenture or the
          Notes. The Company, the Trustee, the Registrar and anyone else shall have the protection of Section 312(c) of the TIA.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730714"></a><font style="font-weight: bold;">Section 11.04</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Certificate and Opinion as to Conditions Precedent.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the
          Trustee (except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional
          certificate or opinion need be furnished):</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;an
              Officer&#8217;s Certificate stating that, in the opinion of the signers (who may rely upon an Opinion of Counsel as to matters of law), all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been
              satisfied; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;an
              Opinion of Counsel stating that, in the opinion of such counsel (who may rely upon an Officer&#8217;s Certificate as to matters of fact), all such conditions precedent and covenants have been satisfied.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730715"></a><font style="font-weight: bold;">Section 11.05</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Statements Required in Certificate or Opinion.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a
          certificate provided pursuant to Section 314(a)(4) of the TIA) must comply with the provisions of Section 314(e) of the TIA and must include:</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a
              statement that the Person making such certificate or opinion has read such covenant or condition;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;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;</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a
              statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been satisfied; and</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a
              statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730716"></a><font style="font-weight: bold;">Section 11.06</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Rules by Holders and Agents.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">Holders may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set
          reasonable requirements for its functions.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730717"></a><font style="font-weight: bold;">Section 11.07</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Calculation of Foreign Currency Amounts.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The calculation of the Dollar equivalent amount for any amount denominated in a foreign currency shall be the noon buying rate in the City
          of New York as certified by the Federal Reserve Bank of New York on the date on which such determination is required to be made or, if such day is not a day on which such rate is published, the rate most recently published prior to such day.</div>
        <div style="font-size: 10pt;">&#160;</div>
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          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">32</font></div>
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        <div style="font-size: 10pt;"><a name="z_Toc40730718"></a><font style="font-weight: bold;">Section 11.08</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">No Personal Liability of Directors, Officers, Employees and Shareholders.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">No past, present or future director, officer, employee, incorporator or shareholder of the Company, as such, will have any liability for
          any obligations of the Company under the Notes, this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The
          waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730719"></a><font style="font-weight: bold;">Section 11.09</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Governing Law.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES, AND THE GUARANTEES, IF ANY,
          WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730720"></a><font style="font-weight: bold;">Section 11.10</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">No Adverse Interpretation of Other Agreements.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">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.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730721"></a><font style="font-weight: bold;">Section 11.11</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Successors.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">All agreements of the Company in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture
          will bind its successors.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730722"></a><font style="font-weight: bold;">Section 11.12</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Severability.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of
          the remaining provisions will not in any way be affected or impaired thereby.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730723"></a><font style="font-weight: bold;">Section 11.13</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Counterpart Originals.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The parties may sign any number of copies of this Indenture. Each signed copy will be an original, but all of them together represent the
          same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original
          Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730724"></a><font style="font-weight: bold;">Section 11.14</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Table of Contents, Headings, etc.</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">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 will in no way modify or restrict any of the terms or provisions hereof.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730725"></a><font style="font-weight: bold;">Section 11.15</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Waiver of Jury Trial</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">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 NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="font-size: 10pt;"><a name="z_Toc40730726"></a><font style="font-weight: bold;">Section 11.16</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Patriot Act Compliance</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">The parties hereto acknowledge that in accordance with Section 326 of the USA Patriot Act 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, which information
          includes the name, address, tax identification number and formation documents and other information that will allow Trustee to identify the person or legal entity in accordance with the USA Patriot Act. The parties to this Agreement agree that
          they will provide the Trustee with such information in order for the Trustee to satisfy the requirements of the USA Patriot Act.</div>
        <div style="font-size: 10pt;">&#160;</div>
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          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">33</font></div>
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        <div style="font-size: 10pt;"><a name="z_Toc40730727"></a><font style="font-weight: bold;">Section 11.17</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Foreign Account Tax Compliance Act (FATCA)</font></div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-indent: 18pt; font-size: 10pt;">In order to comply with applicable tax laws, rules and regulations (inclusive of directives, guidelines and interpretations promulgated by
          competent authorities) in effect from time to time (&#8220;Applicable Law&#8221;) to which a foreign financial institution, issuer, trustee, paying agent, holder or other institution is or has agreed to be subject related to this Indenture, the Company
          agrees (i) to provide to the Trustee sufficient information about Holders or other applicable parties and/or transactions (including any modification to the terms of such transactions) so as to enable the Trustee to determine whether it has tax
          related obligations under Applicable Law and (ii) that the Trustee shall be entitled to make any withholding or deduction from payments under this Indenture to the extent necessary to comply with Applicable Law for which the Trustee shall not
          have any liability. The terms of this section shall survive the termination of this Indenture.</div>
        <div style="font-size: 10pt;">&#160;</div>
        <div style="text-align: center; font-size: 10pt;">[Signatures on following page]</div>
        <div style="text-align: center; font-size: 10pt;"> <br>
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        <div style="text-align: center; font-size: 10pt; font-weight: bold;">SIGNATURES</div>
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                <div>Dated as of [&#160; &#160; &#160; ]</div>
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              <td style="vertical-align: top;" colspan="3">&#160;</td>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="vertical-align: top;" colspan="3">
                <div style="font-weight: bold;">INNVENTURE, INC.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="vertical-align: top;" colspan="3" rowspan="1">&#160;</td>
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                <div>By:</div>
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              <td style="width: 13%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
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                <div>Name:</div>
              </td>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
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                <div>Title:</div>
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              <td style="vertical-align: top;" colspan="3" rowspan="1">&#160;</td>
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                <div style="font-weight: bold;">[&#160; &#160; &#160; ], as Trustee</div>
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              <td style="vertical-align: top;" colspan="3" rowspan="1">&#160;</td>
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                <div>By:</div>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>ny20061800x1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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    <div>
      <div style="text-align: right; font-weight: bold;">Exhibit 5.1</div>
      <div><br>
      </div>
      <div style="text-align: center;"><img src="ny20061800x1_ex5-1img01.jpg"></div>
      <div><br>
      </div>
      <div style="text-align: center; font-size: 8pt;">1221 PEACHTREE STREE, N.E.&#160; &#8226;&#160; SUITE 400&#160; &#8226;&#160; ATLANTA, GEORGIA&#160; 30361</div>
      <div style="text-align: center; font-size: 8pt;">TELEPHONE: +1.404.521.3939 &#8226; JONESDAY.COM</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: center;">December 23, 2025</div>
      <div><br>
      </div>
      <div>Innventure, Inc.</div>
      <div>6900 Tavistock Lakes Blvd.</div>
      <div>Orlando, Florida 32827</div>
      <div><br>
      </div>
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            <td style="width: 72pt;"><br>
            </td>
            <td style="width: 27pt; vertical-align: top;">Re:</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Registration Statement on Form S-3 filed by Innventure, Inc.</u></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>Ladies and Gentlemen:</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">We have acted as counsel for Innventure, Inc., a Delaware corporation (the &#8220;<font style="font-weight: bold; font-style: italic;">Company</font>&#8221;), in connection with the authorization of the possible issuance and sale
        from time to time, on a delayed basis, by the Company of up to $200,000,000 in initial aggregate offering price of: (i) shares of common stock, par value $0.0001 per share, of the Company (the &#8220;<font style="font-weight: bold; font-style: italic;">Common



          Stock</font>&#8221;); (ii) shares of preferred stock, par value $0.0001 per share, of the Company (the &#8220;<font style="font-weight: bold; font-style: italic;">Preferred Stock</font>&#8221;), in one or more series, certain of which may be convertible into or
        exchangeable for shares of Common Stock or other securities of the Company; (iii) debt securities of the Company (the &#8220;<font style="font-weight: bold; font-style: italic;">Debt Securities</font>&#8221;), in one or more series, certain of which may be
        convertible into or exchangeable for shares of Common Stock; (iv) depositary shares representing fractional interests in shares of Preferred Stock (the &#8220;<font style="font-weight: bold; font-style: italic;">Depositary Shares</font>&#8221;); (v) warrants
        to purchase shares of Common Stock, shares of Preferred Stock, Depositary Shares or Debt Securities or any combination thereof (the &#8220;<font style="font-weight: bold; font-style: italic;">Warrants</font>&#8221;); (vi) subscription rights to purchase shares
        of Common Stock, shares of Preferred Stock, Depositary Shares or Debt Securities or any combination thereof (the &#8220;<font style="font-weight: bold; font-style: italic;">Subscription Rights</font>&#8221;); (vii) purchase contracts to purchase securities at
        a future date or dates (the &#8220;<font style="font-weight: bold; font-style: italic;">Purchase Contracts</font>&#8221;); and (viii) units consisting of one or more of the securities described in clauses (i) through (vii) above (the &#8220;<font style="font-weight: bold; font-style: italic;">Units</font>&#8221;), in each case as contemplated by the Company&#8217;s Registration Statement on Form S-3 to which this opinion is filed as an exhibit (as the same may be amended from time to time, the &#8220;<font style="font-weight: bold; font-style: italic;">Registration Statement</font>&#8221;). The Common Stock, the Preferred Stock, the Debt Securities, the Depositary Shares, the Warrants, the Subscription Rights, the Purchase Contracts and the Units are collectively referred
        to herein as the &#8220;<font style="font-weight: bold; font-style: italic;">Securities</font>.&#8221; The Securities may be offered and sold from time to time pursuant to Rule 415 under the Securities Act of 1933 (the &#8220;<font style="font-weight: bold; font-style: italic;">Securities Act</font>&#8221;).</div>
      <div style="text-indent: 36pt;"> <br>
      </div>
      <div><br>
      </div>
      <div style="text-align: center; font-size: 8pt;">AMSTERDAM &#8226; ATLANTA &#8226; BEIJING &#8226; BOSTON &#8226; BRISBANE &#8226; BRUSSELS &#8226; CHICAGO &#8226; CLEVELAND &#8226; COLUMBUS &#8226; DALLAS</div>
      <div style="text-align: center; font-size: 8pt;">DETROIT &#8226; DUBAI &#8226; D&#220;SSELDORF &#8226; FRANKFURT &#8226; HONG KONG &#8226; HOUSTON &#8226; IRVINE &#8226; LONDON &#8226; LOS ANGELES &#8226; MADRID</div>
      <div style="text-align: center; font-size: 8pt;">MELBOURNE &#8226; MEXICO CITY &#8226; MIAMI &#8226; MILAN &#8226; MINNEAPOLIS &#8226; MUNICH &#8226; NEW YORK &#8226; PARIS &#8226; PERTH &#8226; PITTSBURGH</div>
      <div style="text-align: center; font-size: 8pt;">SAN DIEGO &#8226; SAN FRANCISCO &#8226; S&#195;O PAULO &#8226; SHANGHAI &#8226; SILICON VALLEY &#8226; SINGAPORE &#8226; SYDNEY &#8226; TAIPEI &#8226; TOKYO &#8226; WASHINGTON</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div>&#160;
        <div style="text-align: right;"><img src="ny20061800x1_ex5-1img01.jpg"></div>
      </div>
      <div><br>
      </div>
      <div>Innventure, Inc.<br>
        December 23, 2025<br>
        Page <font class="BRPFPageNumber">2</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">In connection with the opinions expressed herein, we have examined such documents, records and matters of law as we have deemed relevant or necessary for purposes of these opinions. Based on the foregoing, and subject
        to the further limitations, qualifications and assumptions set forth herein, we are of the opinion that:</div>
      <div><br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1f8b07c603204537b2359b5ec49803d0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 36pt; vertical-align: top; text-align: right;">
                <div style="text-align: left;">1.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The shares of Common Stock, upon receipt by the Company of such lawful consideration therefor having a value not less than the par value therefor as the Company&#8217;s Board of Directors (or an authorized committee or subcommittee thereof)
                  may determine, will be validly issued, fully paid and nonassessable.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4579180774d3486b8e8b1133478342c9" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 36pt; vertical-align: top; text-align: right;">
                <div style="text-align: left;">2.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The shares of Preferred Stock, upon receipt by the Company of such lawful consideration therefor having a value not less than the par value thereof as the Company&#8217;s Board of Directors (or an authorized committee or subcommittee
                  thereof) may determine, will be validly issued, fully paid and nonassessable.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z01af0be5c5214438857dbff1f140c477" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 36pt; vertical-align: top; text-align: right;">
                <div style="text-align: left;">3.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Debt Securities, upon receipt by the Company of such lawful consideration therefor as the Company&#8217;s Board of Directors (or an authorized committee or subcommittee thereof) may determine, will constitute valid and binding
                  obligations of the Company.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
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            <tr>
              <td style="width: 36pt; vertical-align: top; text-align: right;">
                <div style="text-align: left;">4.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Depositary Shares, upon receipt by the Company of such lawful consideration therefor as the Company&#8217;s Board of Directors (or an authorized committee or subcommittee thereof) may determine, will be validly issued, and the depositary
                  receipts representing the Depositary Shares will entitle the holders thereof to the rights specified therein and in the Deposit Agreement (as defined below) pursuant to which they are issued.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
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            <tr>
              <td style="width: 36pt; vertical-align: top; text-align: right;">
                <div style="text-align: left;">5.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Warrants, upon receipt by the Company of such lawful consideration therefor as the Company&#8217;s Board of Directors (or an authorized committee or subcommittee thereof) may determine, will constitute valid and binding obligations of
                  the Company.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
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            <tr>
              <td style="width: 36pt; vertical-align: top; text-align: right;">
                <div style="text-align: left;">6.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Subscription Rights, upon receipt by the Company of such lawful consideration therefor as the Company&#8217;s Board of Directors (or an authorized committee or subcommittee thereof) may determine, will constitute valid and binding
                  obligations of the Company.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb820f9c513ab4d5eb281ab419c78fb29" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 36pt; vertical-align: top; text-align: right;">
                <div style="text-align: left;">7.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Purchase Contracts, upon receipt by the Company of such lawful consideration therefor as the Company&#8217;s Board of Directors (or an authorized committee or subcommittee thereof) may determine, will constitute valid and binding
                  obligations of the Company.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
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            <tr>
              <td style="width: 36pt; vertical-align: top; text-align: right;">
                <div style="text-align: left;">8.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Units, upon receipt by the Company of such lawful consideration therefor as the Company&#8217;s Board of Directors (or an authorized committee or subcommittee thereof) may determine, will constitute valid and binding obligations of the
                  Company.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
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      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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      </div>
      <div>
        <div>&#160;
          <div style="text-align: right;"><img src="ny20061800x1_ex5-1img01.jpg"></div>
        </div>
        <div><br>
        </div>
        <div>Innventure, Inc.<br>
          December 23, 2025<br>
          Page 3</div>
      </div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">In rendering the foregoing opinions, we have assumed that: (i) the Registration Statement, and any amendments thereto, will have become effective (and will remain effective at the time of issuance of any Securities
        thereunder); (ii) a prospectus supplement describing each class and/or series of Securities offered pursuant to the Registration Statement, to the extent required by applicable law and relevant rules and regulations of the Securities and Exchange
        Commission (the &#8220;<font style="font-weight: bold; font-style: italic;">Commission</font>&#8221;), will be timely filed with the Commission; (iii) the definitive terms of each class and/or series of Securities will have been established in accordance with
        the authorizing resolutions adopted by the Company&#8217;s Board of Directors (or an authorized committee or subcommittee thereof), the Company&#8217;s Amended and Restated Certificate of Incorporation (the &#8220;<font style="font-weight: bold; font-style: italic;">Certificate



          of Incorporation</font>&#8221;) and applicable law; (iv) the Company will issue and deliver the Securities in the manner contemplated by the Registration Statement and any Securities that consist of shares of capital stock will have been authorized and
        reserved for issuance, in each case within the limits of the then remaining authorized but unreserved and unissued amounts of such capital stock; (v) the resolutions authorizing the Company to issue, offer and sell the Securities will have been
        adopted by the Company&#8217;s Board of Directors (or an authorized committee or subcommittee thereof) and will be in full force and effect at all times at which the Securities are offered or sold by the Company; (vi) all Securities will be issued in
        compliance with applicable federal and state securities laws; and (vii) the Indenture and any Deposit Agreement, Warrant Agreement, Subscription Rights Agreement, Purchase Contract Agreement (each as defined below), or unit agreement will be
        governed by and construed in accordance with the laws of the State of New York and will constitute a valid and binding obligation of each party thereto other than the Company.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">With respect to any Securities consisting of Preferred Stock, we have further assumed that the Company will issue and deliver the shares of Preferred Stock being issued and delivered after the filing with the Secretary
        of State of the State of Delaware of a certificate of amendment to the Certificate of Incorporation, approved by us, establishing the designations, preferences and rights of the class or series of Preferred Stock being issued and delivered.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">With respect to any Securities consisting of any series of Debt Securities, we have further assumed that: (i) such Debt Securities will have been issued pursuant to an indenture that has been authorized, executed and
        delivered by the Company and the applicable trustee in a form approved by us (the &#8220;<font style="font-weight: bold; font-style: italic;">Indenture</font>&#8221;), and the Indenture will have been qualified under the Trust Indenture Act of 1939; (ii) all
        terms of such Debt Securities not provided for in the Indenture will have been established in accordance with the provisions of the Indenture and reflected in appropriate documentation approved by us and, if applicable, executed and delivered by
        the Company and the applicable trustee; and (iii) such Debt Securities will be executed, authenticated, issued and delivered in accordance with the provisions of the Indenture.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">With respect to any Securities consisting of Depositary Shares, we have further assumed that the Depositary Shares will be: (i) issued and delivered after authorization, execution and delivery of the deposit agreement,
        approved by us, relating to the Depositary Shares (the &#8220;<font style="font-weight: bold; font-style: italic;">Deposit Agreement</font>&#8221;) to be entered into between the Company and an entity selected by the Company to act as depositary (the &#8220;<font style="font-weight: bold; font-style: italic;">Depositary</font>&#8221;); and (ii) issued after the Company deposits with the Depositary shares of Preferred Stock to be represented by such Depositary Shares that are authorized, validly issued, fully
        paid and nonassessable as contemplated by the Registration Statement and the Deposit Agreement.</div>
      <div><br>
      </div>
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      </div>
      <div>
        <div>&#160;
          <div style="text-align: right;"><img src="ny20061800x1_ex5-1img01.jpg"></div>
        </div>
        <div><br>
        </div>
        <div>Innventure, Inc.<br>
          December 23, 2025<br>
          Page 4</div>
      </div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">With respect to any Securities consisting of Warrants, we have further assumed that: (i) the warrant agreement, approved by us, relating to the Warrants (the &#8220;<font style="font-weight: bold; font-style: italic;">Warrant



          Agreement</font>&#8221;) to be entered into between the Company and an entity selected by the Company to act as the warrant agent (the &#8220;<font style="font-weight: bold; font-style: italic;">Warrant Agent</font>&#8221;) will have been authorized, executed and
        delivered by the Company and the Warrant Agent; and (ii) the Warrants will be authorized, executed and delivered by the Company and the Warrant Agent in accordance with the provisions of the Warrant Agreement.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">With respect to any Securities consisting of Subscription Rights, we have further assumed that: (i) the subscription rights agreement, approved by us, relating to the Subscription Rights (the &#8220;<font style="font-weight: bold; font-style: italic;">Subscription Rights Agreement</font>&#8221;) to be entered into between the Company and an entity selected by the Company to act as the subscription rights agent (the &#8220;<font style="font-weight: bold; font-style: italic;">Subscription



          Rights Agent</font>&#8221;) will have been authorized, executed and delivered by the Company and the Subscription Rights Agent; and (ii) the Subscription Rights will be authorized, executed and delivered by the Company and the Subscription Rights Agent
        in accordance with the provisions of the Subscription Rights Agreement.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">With respect to any Securities consisting of Purchase Contracts, we have further assumed that: (i) the purchase contract agreement, approved by us, relating to the Purchase Contracts (the &#8220;<font style="font-weight: bold; font-style: italic;">Purchase Contract Agreement</font>&#8221;) to be entered into between the Company and an entity selected by the Company to act as the purchase contract agent (the &#8220;<font style="font-weight: bold; font-style: italic;">Purchase
          Contract Agent</font>&#8221;) will have been authorized, executed and delivered by the Company and the Purchase Contract Agent; and (ii) the Purchase Contracts will be authorized, executed and delivered by the Company and the Purchase Contract Agent in
        accordance with the provisions of the Purchase Contract Agreement.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">With respect to any Securities consisting of Units, we have further assumed that each component of such Unit will be authorized, validly issued, fully paid and nonassessable (to the extent applicable) and will
        constitute a valid and binding obligation of the Company or any third party (to the extent applicable) as contemplated by the Registration Statement and the applicable unit agreement, if any.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">The opinions expressed herein are limited by bankruptcy, insolvency, reorganization, fraudulent transfer and fraudulent conveyance, voidable preference, moratorium or other similar laws and related regulations and
        judicial doctrines from time to time in effect relating to or affecting creditors&#8217; rights generally, and by general equitable principles and public policy considerations, whether such principles and considerations are considered in a proceeding at
        law or in equity.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">As to facts material to the opinions and assumptions expressed herein, we have relied upon oral or written statements and representations of officers and other representatives of the Company and others. The opinions
        expressed herein are limited to the laws of the State of New York and the General Corporation Law of the State of Delaware, in each case as currently in effect, and we express no opinion as to the effect of the laws of any other jurisdiction.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement and to the reference to Jones Day under the caption &#8220;Legal Matters&#8221; in the prospectus constituting a part of such
        Registration Statement. In giving such consent, we do not thereby admit that we are included in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission promulgated
        thereunder.</div>
      <div><br>
      </div>
      <div>
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            <tr>
              <td style="width: 50.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 50.00%;">
                <div>Very truly yours, <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 50.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 50.00%;">
                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 50.00%;">
                <div>/s/ Jones Day <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <br>
      <div> <br>
      </div>
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<TYPE>EX-23.1
<SEQUENCE>4
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<DESCRIPTION>EXHIBIT 23.1
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    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 23.1</font><br>
    </div>
    <div> <br>
    </div>
    <div>
      <div style="text-align: center; color: #000000;"><u>Consent of Independent Registered Public Accounting Firm</u></div>
      <div><br>
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      <div style="text-align: justify;">We hereby consent to the incorporation by reference in the Prospectus constituting a part of<font style="color: #000000;">&#160;</font>this Registration Statement of our report dated April 14, 2025, relating to the consolidated financial statements<font style="color: #000000;">
          of Innventure, Inc. (the Company)</font> appearing in the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2024.<font style="color: #000000;"> Our report contains
          an explanatory paragraph regarding the Company&#8217;s ability to continue as a going concern.</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; color: #000000;">We also consent to the reference to us under the caption &#8220;Experts&#8221; in the Prospectus.</div>
      <div><br>
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      <div style="text-align: justify; color: #000000;">/s/ BDO USA, P.C.</div>
      <div style="text-align: justify; color: #000000;">Raleigh, North Carolina</div>
      <div><br>
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      <div style="text-align: justify; color: #000000;">December 23, 2025</div>
      <div style="text-align: justify; color: #000000;"> <br>
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<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>5
<FILENAME>ny20061800x1_ex107.htm
<DESCRIPTION>FILING FEES TABLE
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   <span style="color: rgb(0, 0, 0); font-weight: bold;">Exhibit 107</span>
  </div><div>
  </div><div style="margin-bottom: 10pt; margin-top: 10pt; text-align: center;">
   <span style="font-weight: bold;">CALCULATION OF FILING FEE TABLE</span>
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  </div><div style="text-align: center;"><b>Form <ix:nonNumeric contextRef="c0" name="ffd:SubmissnTp" id="ixv-467"><ix:nonNumeric contextRef="c0" name="ffd:FormTp" id="ixv-468">S-3</ix:nonNumeric></ix:nonNumeric></b></div><div>
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   <span style="color: rgb(0, 0, 0);">(Form Type)</span>
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  </div><div style="text-align: center;"> <ix:nonNumeric contextRef="c0" name="dei:EntityRegistrantName" id="ixv-24"><span style="font-weight: bold;"><b>Innventure, Inc.</b></span></ix:nonNumeric></div><div style="text-align: center;">
   <span style="color: rgb(0, 0, 0);">(Exact Name of Registrant as Specified in its Charter)</span>
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  </div><div style="text-align: center; margin-right: 0.75pt;">&#160;
  </div><div>
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   <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration: underline;">Table 1: Newly Registered and Carry Forward Securities</span>
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 </div><table style="font-size: 10pt; border-spacing: 0px; border-collapse: collapse; margin-left: auto; width: 100%; margin-right: 0px;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 9%;">&#160;</td><td style="width: 9%;">&#160;</td><td style="width: 12%;">&#160;</td><td style="width: 7%;">&#160;</td><td style="width: 7%;">&#160;</td><td style="width: 7%;">&#160;</td><td style="width: 7%;">&#160;</td><td style="width: 7%;">&#160;</td><td style="width: 7%;">&#160;</td><td style="width: 7%;">&#160;</td><td style="width: 7%;">&#160;</td><td style="width: 7%;">&#160;</td><td style="width: 7%;">&#160;</td></tr><tr style="vertical-align: top;"> <td style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom;">&#160;</td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Security<br/>Type</span> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 2pt 1px; vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Security<br/>Class Title</span> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 2pt 1px; vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Fee<br/>Calculation<br/>or<br/>Carry<br/>Forward<br/>Rule</span> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Amount<br/>Registered<sup>(1)</sup></span></td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Proposed<br/>Maximum<br/>Offering<br/>Price Per<br/>Unit<sup>(1)(2)</sup></span></td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Maximum<br/>Aggregate<br/>Offering<br/>Price<sup>(1)(3)</sup></span></td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; white-space: nowrap;"> <span style="font-weight: bold;">Fee Rate</span> </td> <td style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Amount of Registration<br/>Fee</span> </td> <td style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Carry<br/>Forward<br/>Form<br/>Type</span> </td> <td style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Carry<br/>Forward <br/>File<br/>Number</span> </td> <td style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Carry<br/>Forward<br/>Initial<br/>Effective<br/>Date</span> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.5pt 1.75pt 1px; vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Filing Fee<br/>Previously<br/>Paid In<br/>Connection<br/>with<br/>Unsold<br/>Securities<br/>to be<br/>Carried<br/>Forward</span> </td> </tr> <tr style="vertical-align: top;"> <td colspan="13" style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Newly Registered Securities</span> </td> </tr> <tr style="vertical-align: top; height: 11pt; background-color: rgb(204, 238, 255);"> <td rowspan="9" style="padding: 2pt 1.25pt 1.75pt 5.4pt; border-width: 1pt; border-style: solid; border-color: black; height: 11pt; vertical-align: middle;"> <ix:nonNumeric contextRef="c9" format="ixt:fixed-false" name="ffd:PrevslyPdFlg" id="ixv-469"><ix:nonNumeric contextRef="c8" format="ixt:fixed-false" name="ffd:PrevslyPdFlg" id="ixv-470"><ix:nonNumeric contextRef="c7" format="ixt:fixed-false" name="ffd:PrevslyPdFlg" id="ixv-471"><ix:nonNumeric contextRef="c6" format="ixt:fixed-false" name="ffd:PrevslyPdFlg" id="ixv-472"><ix:nonNumeric contextRef="c5" format="ixt:fixed-false" name="ffd:PrevslyPdFlg" id="ixv-473"><ix:nonNumeric contextRef="c4" format="ixt:fixed-false" name="ffd:PrevslyPdFlg" id="ixv-474"><ix:nonNumeric contextRef="c3" format="ixt:fixed-false" name="ffd:PrevslyPdFlg" id="ixv-475"><ix:nonNumeric contextRef="c2" format="ixt:fixed-false" name="ffd:PrevslyPdFlg" id="ixv-476"><ix:nonNumeric contextRef="c1" format="ixt:fixed-false" name="ffd:PrevslyPdFlg" id="ixv-477">Fees to Be Paid</ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c1" name="ffd:OfferingSctyTp" id="ixv-478">Equity</ix:nonNumeric> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c1" name="ffd:OfferingSctyTitl" id="ixv-479">Common Stock, par value
$0.0001 per share</ix:nonNumeric><sup>(4)(12) </sup></td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c1" format="ixt:fixed-true" name="ffd:Rule457oFlg" id="ixv-480">457(o)</ix:nonNumeric> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom; text-align: center; height: 11pt;">&#160;</td> <td style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom; text-align: center; height: 11pt;">&#160;</td> <td style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom; text-align: center; height: 11pt;">&#160;</td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.5pt 1.75pt 1px; vertical-align: bottom; font-size: 0px; height: 11pt;">&#160;</td> </tr><tr style="vertical-align: top; height: 11pt;"> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c2" name="ffd:OfferingSctyTp" id="ixv-481">Equity</ix:nonNumeric> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c2" name="ffd:OfferingSctyTitl" id="ixv-482">Preferred Stock, par value
$0.0001 per share</ix:nonNumeric><sup>(5)(12) </sup></td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c2" format="ixt:fixed-true" name="ffd:Rule457oFlg" id="ixv-483">457(o)</ix:nonNumeric> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom; text-align: center; height: 11pt;">&#160;</td> <td style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom; text-align: center; height: 11pt;">&#160;</td> <td style="padding: 0px 5.4pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom; text-align: center; height: 11pt;">&#160;</td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.5pt 1.75pt 1px; vertical-align: bottom; font-size: 0px; height: 11pt;">&#160;</td> </tr><tr style="vertical-align: top; height: 11pt; background-color: rgb(204, 238, 255);"> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c3" name="ffd:OfferingSctyTp" id="ixv-484">Equity</ix:nonNumeric> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c3" name="ffd:OfferingSctyTitl" id="ixv-485">Depositary Shares</ix:nonNumeric><sup>(6)(12) </sup></td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c3" format="ixt:fixed-true" name="ffd:Rule457oFlg" id="ixv-486">457(o)</ix:nonNumeric> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="border-width: 1pt; 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border-width: 1pt; border-style: solid; border-color: black; vertical-align: bottom; text-align: center; height: 11pt;">&#160;</td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.5pt 1.75pt 1px; vertical-align: bottom; font-size: 0px; height: 11pt;">&#160;</td> </tr><tr style="vertical-align: top; height: 11pt;"> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c4" name="ffd:OfferingSctyTp" id="ixv-487">Other</ix:nonNumeric> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c4" name="ffd:OfferingSctyTitl" id="ixv-488">Warrants</ix:nonNumeric><sup>(7)(12) </sup></td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; 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border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c5" name="ffd:OfferingSctyTitl" id="ixv-491">Subscription Rights</ix:nonNumeric><sup>(8)(12) </sup></td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> <ix:nonNumeric contextRef="c5" format="ixt:fixed-true" name="ffd:Rule457oFlg" id="ixv-492">457(o)</ix:nonNumeric> </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; vertical-align: bottom; text-align: center; height: 11pt;"> &#8212; </td> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 2pt 1.25pt 1.75pt 1px; 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specified as to each class of securities to be registered pursuant to
Instructions 2.A.ii.b. and 2.A.iii.b. to the Calculation of Filing Fee Tables
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<span style="display: none;">v3.25.4</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Submission<br></strong></div></th>
<th class="th"><div>Dec. 23, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissionLineItems', window );"><strong>Submission [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Central Index Key</a></td>
<td class="text">0002001557<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Registrant Name</a></td>
<td class="text">Innventure, Inc.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FormTp', window );">Form Type</a></td>
<td class="text">S-3<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissnTp', window );">Submission Type</a></td>
<td class="text">S-3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeExhibitTp', window );">Fee Exhibit Type</a></td>
<td class="text">EX-FILING FEES<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OffsetTableNa', window );">Offset Table N/A</a></td>
<td class="text">N/A<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_CombinedProspectusTableNa', window );">Combined Prospectus Table N/A</a></td>
<td class="text">N/A<span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
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<td>dei:centralIndexKeyItemType</td>
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<td>na</td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>xbrli:normalizedStringItemType</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_CombinedProspectusTableNa</td>
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<td>na</td>
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<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeExhibitTp</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FormTp</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.4</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Offerings<br></strong></div></th>
<th class="th">
<div>Dec. 23, 2025 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=1', window );">Offering: 1</a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457oFlg', window );">Rule 457(o)</a></td>
<td class="text">true<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Common Stock, par value
$0.0001 per share<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%; font-size: 10pt;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(4)</span>&#160;</td><td style="width: 98%; font-size: 10pt; vertical-align: top;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="text-decoration-thickness: initial; float: none; display: inline !important;">Subject to note (13) below, there is being registered an indeterminate number of shares of common stock.</span></span></td></tr></table><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%;">&#160;</td><td style="width: 98%;">&#160;</td></tr><tr><td style="vertical-align: top; font-size: 10pt;">(12)</td><td style="font-size: 10pt;">Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.</td></tr></table><span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=2', window );">Offering: 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457oFlg', window );">Rule 457(o)</a></td>
<td class="text">true<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Preferred Stock, par value
$0.0001 per share<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%; font-size: 10pt;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(5)</span>&#160;</td><td style="width: 98%; font-size: 10pt; vertical-align: top;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="text-decoration-thickness: initial; float: none; display: inline !important;">Subject to note (13) below, there is being registered an indeterminate number of shares of preferred stock.</span></span></td></tr></table><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%;">&#160;</td><td style="width: 98%;">&#160;</td></tr><tr><td style="vertical-align: top; font-size: 10pt;">(12)</td><td style="font-size: 10pt;">Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.</td></tr></table><span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=3', window );">Offering: 3</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
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<td class="text">true<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Depositary Shares<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%; vertical-align: top; font-size: 10pt;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(6)</span>&#160;</td><td style="width: 98%; font-size: 10pt; vertical-align: top;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="text-decoration-thickness: initial; float: none; display: inline !important;">Subject to note (13) below, there is being registered an indeterminate number of depositary shares to be evidenced by depositary receipts issued pursuant to a deposit agreement. If the registrant elects to offer to the public fractional interests in shares of preferred stock, then depositary receipts will be distributed to those persons purchasing the fractional interests and the shares of preferred stock will be issued to the depositary under the deposit agreement.</span></span></td></tr></table><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%;">&#160;</td><td style="width: 98%;">&#160;</td></tr><tr><td style="vertical-align: top; font-size: 10pt;">(12)</td><td style="font-size: 10pt;">Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.</td></tr></table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=4', window );">Offering: 4</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457oFlg', window );">Rule 457(o)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Warrants<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%; vertical-align: top;"><span style="font-size: medium; letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="font-size: 10pt;"><span style="font-size: 10pt">(7)</span></span></span>&#160;</td><td style="width: 98%; font-size: 10pt;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="text-decoration-thickness: initial; float: none; display: inline !important;">Subject to note (13) below, there is being registered hereunder an indeterminate amount and number of warrants. The warrants may represent the right to purchase shares of common stock, shares of preferred stock, depositary shares or debt securities.</span></span></td></tr></table><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%;">&#160;</td><td style="width: 98%;">&#160;</td></tr><tr><td style="vertical-align: top; font-size: 10pt;">(12)</td><td style="font-size: 10pt;">Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.</td></tr></table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=5', window );">Offering: 5</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457oFlg', window );">Rule 457(o)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Subscription Rights<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%; font-size: 10pt; vertical-align: top;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="text-decoration-thickness: initial; float: none; display: inline !important;"><span style="font-size: 10pt">(8)</span></span></span>&#160;</td><td style="width: 98%; font-size: 10pt; vertical-align: top;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="text-decoration-thickness: initial; float: none; display: inline !important;">Subject to note (13) below, there is being registered an indeterminate number of subscription rights that may represent a right to purchase shares of common stock, shares of preferred stock, depositary shares or debt securities.</span></span></td></tr></table><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%;">&#160;</td><td style="width: 98%;">&#160;</td></tr><tr><td style="vertical-align: top; font-size: 10pt;">(12)</td><td style="font-size: 10pt;">Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.</td></tr></table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=6', window );">Offering: 6</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457oFlg', window );">Rule 457(o)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Debt<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Debt Securities<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%; font-size: 10pt;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="text-decoration-thickness: initial; float: none; display: inline !important;">(9)</span></span>&#160;</td><td style="width: 98%; font-size: 10pt; vertical-align: top;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="text-decoration-thickness: initial; float: none; display: inline !important;">Subject to note (13) below, there is being registered an indeterminate principal amount of debt securities.</span></span></td></tr></table><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%;">&#160;</td><td style="width: 98%;">&#160;</td></tr><tr><td style="vertical-align: top; font-size: 10pt;">(12)</td><td style="font-size: 10pt;">Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.</td></tr></table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=7', window );">Offering: 7</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457oFlg', window );">Rule 457(o)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Purchase Contracts<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%; font-size: 10pt;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="text-decoration-thickness: initial; float: none; display: inline !important;">(10)</span></span>&#160;</td><td style="width: 98%; font-size: 10pt; vertical-align: top;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="text-decoration-thickness: initial; float: none; display: inline !important;">Subject to note (13) below, there is being registered an indeterminate number of purchase contracts.</span></span></td></tr></table><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%;">&#160;</td><td style="width: 98%;">&#160;</td></tr><tr><td style="vertical-align: top; font-size: 10pt;">(12)</td><td style="font-size: 10pt;">Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.</td></tr></table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=8', window );">Offering: 8</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457oFlg', window );">Rule 457(o)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Units<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%;">&#160;</td><td style="width: 98%;">&#160;</td></tr><tr><td style="font-size: 10pt; vertical-align: top;"><span style="font-size: 10pt">(11)</span></td><td style="font-size: 10pt;">Subject
to note (13) below, there is being registered an indeterminate number of units.
Each unit will be issued under a unit agreement and will represent an interest
in a combination of one or more of the securities registered hereunder.</td></tr></table><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%;">&#160;</td><td style="width: 98%;">&#160;</td></tr><tr><td style="vertical-align: top; font-size: 10pt;">(12)</td><td style="font-size: 10pt;">Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.</td></tr></table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=9', window );">Offering: 9</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457oFlg', window );">Rule 457(o)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Unallocated (Universal) Shelf<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_MaxAggtOfferingPric', window );">Maximum Aggregate Offering Price</a></td>
<td class="nump">$ 200,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01381%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeAmt', window );">Amount of Registration Fee</a></td>
<td class="nump">$ 27,620<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text"><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%;">&#160;</td><td style="width: 98%;">&#160;</td></tr><tr><td style="vertical-align: top; font-size: 10pt;">(1)</td><td style="font-size: 10pt;">Not
specified as to each class of securities to be registered pursuant to
Instructions 2.A.ii.b. and 2.A.iii.b. to the Calculation of Filing Fee Tables
and Related Disclosure under Item 16(b) of Form S-3 under the Securities Act.</td></tr></table><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%; font-size: 10pt;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</span>&#160;</td><td style="width: 98%; font-size: 10pt; vertical-align: top;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(o).</span></td></tr></table><table style="font-size: 10pt; width:100%;"><tr style="height: 0px; font-size: 0px;"><td style="width: 2%;">&#160;</td><td style="width: 98%;">&#160;</td></tr><tr><td style="vertical-align: top; font-size: 10pt;">(13)</td><td style="font-size: 10pt;">In
no event will the aggregate initial offering price of all securities issued
from time to time pursuant to the prospectus contained in this registration
statement exceed $200,000,000. Such amount represents the offering price of any
common stock, preferred stock and depositary shares, the principal amount of
any debt securities issued at their stated principal amount, the issue price
rather than the principal amount of any debt securities issued at an original
issue discount, the issue price of any warrants, the exercise price of any
securities issuable upon the exercise of warrants, the issue price of any
securities issuable upon the exercise of subscription rights, and the purchase
price of any purchase contracts. The aggregate principal amount of debt
securities may be increased if any debt securities are issued at an original
issue discount by an amount such that the offering price to be received by the
registrant shall be equal to the above amount to be registered. The securities
registered hereunder may be sold separately or as units with other securities
registered hereunder.</td></tr></table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total amount of registration fee (amount due after offsets).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The rate per dollar of fees that public companies and other issuers pay to register their securities with the Commission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_MaxAggtOfferingPric">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum aggregate offering price for the offering that is being registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_MaxAggtOfferingPric</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative100TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTitl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The title of the class of securities being registered (for each class being registered).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTitl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Type of securities: "Asset-backed Securities", "ADRs/ADSs", "Debt", "Debt Convertible into Equity", "Equity", "Face Amount Certificates", "Limited Partnership Interests", "Mortgage Backed Securities", "Non-Convertible Debt", "Unallocated (Universal) Shelf", "Exchange Traded Vehicle Securities", "Other"</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingTable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingTable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_PrevslyPdFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_PrevslyPdFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_Rule457oFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Checkbox indicating whether filer is using Rule 457(o) to calculate the registration fee due.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 457<br> -Subsection o<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_Rule457oFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=3">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=3</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=4">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=4</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=5">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=5</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=6">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=6</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=7">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=7</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=8">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=8</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=9">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=9</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</html>
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<SEQUENCE>11
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.25.4</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fees Summary<br></strong></div></th>
<th class="th">
<div>Dec. 23, 2025 </div>
<div>USD ($)</div>
</th>
</tr>
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    <ffd:PrevslyPdFlg contextRef="c6" id="ixv-472">false</ffd:PrevslyPdFlg>
    <ffd:PrevslyPdFlg contextRef="c5" id="ixv-473">false</ffd:PrevslyPdFlg>
    <ffd:PrevslyPdFlg contextRef="c4" id="ixv-474">false</ffd:PrevslyPdFlg>
    <ffd:PrevslyPdFlg contextRef="c3" id="ixv-475">false</ffd:PrevslyPdFlg>
    <ffd:PrevslyPdFlg contextRef="c2" id="ixv-476">false</ffd:PrevslyPdFlg>
    <ffd:PrevslyPdFlg contextRef="c1" id="ixv-477">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="c1" id="ixv-478">Equity</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c1" id="ixv-479">Common Stock, par value $0.0001 per share</ffd:OfferingSctyTitl>
    <ffd:Rule457oFlg contextRef="c1" id="ixv-480">true</ffd:Rule457oFlg>
    <ffd:OfferingSctyTp contextRef="c2" id="ixv-481">Equity</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c2" id="ixv-482">Preferred Stock, par value $0.0001 per share</ffd:OfferingSctyTitl>
    <ffd:Rule457oFlg contextRef="c2" id="ixv-483">true</ffd:Rule457oFlg>
    <ffd:OfferingSctyTp contextRef="c3" id="ixv-484">Equity</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c3" id="ixv-485">Depositary Shares</ffd:OfferingSctyTitl>
    <ffd:Rule457oFlg contextRef="c3" id="ixv-486">true</ffd:Rule457oFlg>
    <ffd:OfferingSctyTp contextRef="c4" id="ixv-487">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c4" id="ixv-488">Warrants</ffd:OfferingSctyTitl>
    <ffd:Rule457oFlg contextRef="c4" id="ixv-489">true</ffd:Rule457oFlg>
    <ffd:OfferingSctyTp contextRef="c5" id="ixv-490">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c5" id="ixv-491">Subscription Rights</ffd:OfferingSctyTitl>
    <ffd:Rule457oFlg contextRef="c5" id="ixv-492">true</ffd:Rule457oFlg>
    <ffd:OfferingSctyTp contextRef="c6" id="ixv-493">Debt</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c6" id="ixv-494">Debt Securities</ffd:OfferingSctyTitl>
    <ffd:Rule457oFlg contextRef="c6" id="ixv-495">true</ffd:Rule457oFlg>
    <ffd:OfferingSctyTp contextRef="c7" id="ixv-496">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c7" id="ixv-497">Purchase Contracts</ffd:OfferingSctyTitl>
    <ffd:Rule457oFlg contextRef="c7" id="ixv-498">true</ffd:Rule457oFlg>
    <ffd:OfferingSctyTp contextRef="c8" id="ixv-499">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c8" id="ixv-500">Units</ffd:OfferingSctyTitl>
    <ffd:Rule457oFlg contextRef="c8" id="ixv-501">true</ffd:Rule457oFlg>
    <ffd:OfferingSctyTp contextRef="c9" id="ixv-502">Unallocated (Universal) Shelf</ffd:OfferingSctyTp>
    <ffd:Rule457oFlg contextRef="c9" id="ixv-503">true</ffd:Rule457oFlg>
    <ffd:MaxAggtOfferingPric contextRef="c9" decimals="INF" id="ixv-504" unitRef="usd">200000000</ffd:MaxAggtOfferingPric>
    <ffd:FeeAmt contextRef="c9" decimals="2" id="ixv-505" unitRef="usd">27620</ffd:FeeAmt>
    <ffd:TtlOfferingAmt contextRef="c0" decimals="INF" id="ixv-506" unitRef="usd">200000000</ffd:TtlOfferingAmt>
    <ffd:TtlFeeAmt contextRef="c0" decimals="2" id="ixv-507" unitRef="usd">27620</ffd:TtlFeeAmt>
    <ffd:TtlPrevslyPdAmt contextRef="c0" decimals="0" id="ixv-508" unitRef="usd">0</ffd:TtlPrevslyPdAmt>
    <ffd:TtlOffsetAmt contextRef="c0" decimals="0" id="ixv-509" unitRef="usd">0</ffd:TtlOffsetAmt>
    <ffd:NetFeeAmt contextRef="c0" decimals="2" id="ixv-510" unitRef="usd">27620</ffd:NetFeeAmt>
    <ffd:OfferingNote contextRef="c9" id="ixv-346">&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%;"&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%;"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align: top; font-size: 10pt;"&gt;(1)&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;Not
specified as to each class of securities to be registered pursuant to
Instructions 2.A.ii.b. and 2.A.iii.b. to the Calculation of Filing Fee Tables
and Related Disclosure under Item 16(b) of Form S-3 under the Securities Act.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%; font-size: 10pt;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;(3)&lt;/span&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%; font-size: 10pt; vertical-align: top;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(o).&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%;"&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%;"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align: top; font-size: 10pt;"&gt;(13)&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;In
no event will the aggregate initial offering price of all securities issued
from time to time pursuant to the prospectus contained in this registration
statement exceed $200,000,000. Such amount represents the offering price of any
common stock, preferred stock and depositary shares, the principal amount of
any debt securities issued at their stated principal amount, the issue price
rather than the principal amount of any debt securities issued at an original
issue discount, the issue price of any warrants, the exercise price of any
securities issuable upon the exercise of warrants, the issue price of any
securities issuable upon the exercise of subscription rights, and the purchase
price of any purchase contracts. The aggregate principal amount of debt
securities may be increased if any debt securities are issued at an original
issue discount by an amount such that the offering price to be received by the
registrant shall be equal to the above amount to be registered. The securities
registered hereunder may be sold separately or as units with other securities
registered hereunder.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c1" id="ixv-369">&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%; font-size: 10pt;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;(4)&lt;/span&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%; font-size: 10pt; vertical-align: top;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;&lt;span style="text-decoration-thickness: initial; float: none; display: inline !important;"&gt;Subject to note (13) below, there is being registered an indeterminate number of shares of common stock.&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%;"&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%;"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align: top; font-size: 10pt;"&gt;(12)&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c2" id="ixv-377">&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%; font-size: 10pt;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;(5)&lt;/span&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%; font-size: 10pt; vertical-align: top;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;&lt;span style="text-decoration-thickness: initial; float: none; display: inline !important;"&gt;Subject to note (13) below, there is being registered an indeterminate number of shares of preferred stock.&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%;"&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%;"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align: top; font-size: 10pt;"&gt;(12)&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c3" id="ixv-385">&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%; vertical-align: top; font-size: 10pt;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;(6)&lt;/span&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%; font-size: 10pt; vertical-align: top;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;&lt;span style="text-decoration-thickness: initial; float: none; display: inline !important;"&gt;Subject to note (13) below, there is being registered an indeterminate number of depositary shares to be evidenced by depositary receipts issued pursuant to a deposit agreement. If the registrant elects to offer to the public fractional interests in shares of preferred stock, then depositary receipts will be distributed to those persons purchasing the fractional interests and the shares of preferred stock will be issued to the depositary under the deposit agreement.&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%;"&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%;"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align: top; font-size: 10pt;"&gt;(12)&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c4" id="ixv-393">&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%; vertical-align: top;"&gt;&lt;span style="font-size: medium; letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;&lt;span style="font-size: 10pt;"&gt;&lt;span style="font-size: 10pt"&gt;(7)&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%; font-size: 10pt;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;&lt;span style="text-decoration-thickness: initial; float: none; display: inline !important;"&gt;Subject to note (13) below, there is being registered hereunder an indeterminate amount and number of warrants. The warrants may represent the right to purchase shares of common stock, shares of preferred stock, depositary shares or debt securities.&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%;"&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%;"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align: top; font-size: 10pt;"&gt;(12)&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c5" id="ixv-403">&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%; font-size: 10pt; vertical-align: top;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;&lt;span style="text-decoration-thickness: initial; float: none; display: inline !important;"&gt;&lt;span style="font-size: 10pt"&gt;(8)&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%; font-size: 10pt; vertical-align: top;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;&lt;span style="text-decoration-thickness: initial; float: none; display: inline !important;"&gt;Subject to note (13) below, there is being registered an indeterminate number of subscription rights that may represent a right to purchase shares of common stock, shares of preferred stock, depositary shares or debt securities.&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%;"&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%;"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align: top; font-size: 10pt;"&gt;(12)&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c6" id="ixv-413">&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%; font-size: 10pt;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;&lt;span style="text-decoration-thickness: initial; float: none; display: inline !important;"&gt;(9)&lt;/span&gt;&lt;/span&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%; font-size: 10pt; vertical-align: top;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;&lt;span style="text-decoration-thickness: initial; float: none; display: inline !important;"&gt;Subject to note (13) below, there is being registered an indeterminate principal amount of debt securities.&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%;"&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%;"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align: top; font-size: 10pt;"&gt;(12)&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c7" id="ixv-422">&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%; font-size: 10pt;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;&lt;span style="text-decoration-thickness: initial; float: none; display: inline !important;"&gt;(10)&lt;/span&gt;&lt;/span&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%; font-size: 10pt; vertical-align: top;"&gt;&lt;span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"&gt;&lt;span style="text-decoration-thickness: initial; float: none; display: inline !important;"&gt;Subject to note (13) below, there is being registered an indeterminate number of purchase contracts.&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%;"&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%;"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align: top; font-size: 10pt;"&gt;(12)&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c8" id="ixv-431">&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%;"&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%;"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="font-size: 10pt; vertical-align: top;"&gt;&lt;span style="font-size: 10pt"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;Subject
to note (13) below, there is being registered an indeterminate number of units.
Each unit will be issued under a unit agreement and will represent an interest
in a combination of one or more of the securities registered hereunder.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="font-size: 10pt; width:100%;"&gt;&lt;tr style="height: 0px; font-size: 0px;"&gt;&lt;td style="width: 2%;"&gt;&#160;&lt;/td&gt;&lt;td style="width: 98%;"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align: top; font-size: 10pt;"&gt;(12)&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;Subject
to note (13) below, this registration statement also covers an indeterminate
amount of securities as may be issued in exchange for, or upon conversion or
exercise of, as the case may be, the preferred stock, depositary shares,
warrants or subscription rights registered hereunder. Any securities registered
hereunder may be sold separately or as units with other securities registered
hereunder. No separate consideration will be received for any securities
registered hereunder that are issued in exchange for, or upon conversion of, as
the case may be, the preferred stock, depositary shares, warrants or
subscription rights.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ffd:OfferingNote>
    <ffd:FeeRate
      contextRef="c9"
      decimals="8"
      id="hidden-fact-0"
      unitRef="pure">0.00013810</ffd:FeeRate>
    <ffd:CombinedProspectusTableNa contextRef="c0" id="ixv-514">N/A</ffd:CombinedProspectusTableNa>
    <dei:EntityCentralIndexKey contextRef="c0" id="ixv-515">0002001557</dei:EntityCentralIndexKey>
    <ffd:FeeExhibitTp contextRef="c0" id="ixv-516">EX-FILING FEES</ffd:FeeExhibitTp>
    <ffd:OffsetTableNa contextRef="c0" id="ixv-517">N/A</ffd:OffsetTableNa>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
