<SEC-DOCUMENT>0001104659-25-041391.txt : 20250430
<SEC-HEADER>0001104659-25-041391.hdr.sgml : 20250430
<ACCEPTANCE-DATETIME>20250430102435
ACCESSION NUMBER:		0001104659-25-041391
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		10
FILED AS OF DATE:		20250429
DATE AS OF CHANGE:		20250430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FUELCELL ENERGY INC
		CENTRAL INDEX KEY:			0000886128
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRICAL INDUSTRIAL APPARATUS [3620]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				060853042
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-286842
		FILM NUMBER:		25891731

	BUSINESS ADDRESS:	
		STREET 1:		3 GREAT PASTURE ROAD
		CITY:			DANBURY
		STATE:			CT
		ZIP:			06810
		BUSINESS PHONE:		2038256000

	MAIL ADDRESS:	
		STREET 1:		3 GREAT PASTURE ROAD
		CITY:			DANBURY
		STATE:			CT
		ZIP:			06810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ENERGY RESEARCH CORP /NY/
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
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<DESCRIPTION>S-3
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    <title>tm2513286-1_s3 - none - 3.9531464s</title>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:-0.18pt;">As filed with the Securities and Exchange Commission on April&#160;29, 2025</font><font style="font-weight:normal;letter-spacing:0.18pt;"> </font>
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        <div style="margin-left:20pt; margin-top:3pt; text-align:right; width:521.31pt; line-height:10pt;font-weight:bold;">
          <font style="letter-spacing:-0.18pt;">Registration No. 333-&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;</font>&#8203;</div>
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          <font style="letter-spacing:-0.32pt;">UNITED STATES </font>
          <br >
          <font style="letter-spacing:-0.32pt;">SECURITIES AND EXCHANGE COMMISSION </font>
          <br >
          <font style="font-size:9pt;letter-spacing:-0.18pt;">Washington, D.C. 20549</font><font style="font-weight:normal;letter-spacing:0.32pt;"> </font>
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        <div style="margin-top:3pt; text-align:center; width:541.31pt; line-height:17pt;font-weight:bold;font-size:16pt;">
          <font style="letter-spacing:-0.32pt;">FORM S-3</font>
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        <div style="margin-top:4pt; text-align:center; width:541.31pt; line-height:11pt;font-weight:bold;">
          <font style="letter-spacing:-0.18pt;">REGISTRATION STATEMENT </font>
          <br >
          <font style="letter-spacing:-0.18pt;">UNDER THE SECURITIES ACT OF 1933</font><font style="font-weight:normal;letter-spacing:0.18pt;"> </font>
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        <div style="margin-top:3pt; text-align:center; width:541.31pt; line-height:17pt;font-weight:bold;font-size:16pt;">
          <font style="letter-spacing:-0.32pt;">FUELCELL ENERGY, INC.</font><font style="font-weight:normal;letter-spacing:0.32pt;"> </font>
        </div>
        <div style="margin-top:0.2pt; text-align:center; width:541.31pt; line-height:9pt;font-size:8pt;">
          <font style="letter-spacing:0.16pt;">(Exact Name of Registrant as Specified in its Charter)</font><font style="font-size:9pt;">&#8203;<font style="letter-spacing:0.18pt;"> </font></font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:264.66pt;">
              <div style="text-align:center;font-weight:bold;font-size:9pt;">
                <font style="letter-spacing:-0.18pt;">Delaware</font>
              </div>
              <div style="text-align:center;">
                <font style="letter-spacing:0.16pt;">(State or other jurisdiction of</font>
                <br >
                <font style="letter-spacing:0.16pt;">incorporation or organization)</font><font style="font-size:9pt;">&#8203;</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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              <div style="text-align:center;font-weight:bold;font-size:9pt;">
                <font style="letter-spacing:-0.18pt;">06-0853042</font>
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              <div style="text-align:center;">
                <font style="letter-spacing:0.16pt;">(I.R.S. Employer</font>
                <br >
                <font style="letter-spacing:0.16pt;">Identification Number)</font>
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        <div style="margin-top:12pt; text-align:center; width:541.31pt; line-height:11pt;font-weight:bold;">
          <font style="letter-spacing:-0.18pt;">3 Great Pasture Road </font>
          <br >
          <font style="letter-spacing:-0.18pt;">Danbury, Connecticut 06810</font>
          <br >
          <font style="letter-spacing:-0.18pt;">(203) 825-6000</font><font style="font-weight:normal;letter-spacing:0.18pt;"> </font>
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          <font style="letter-spacing:0.16pt;">(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant&#8217;s Principal Executive Offices)</font><font style="font-size:9pt;">&#8203;<font style="letter-spacing:0.18pt;"> </font></font>
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        <div style="margin-top:4pt; text-align:center; width:541.31pt; line-height:11pt;font-weight:bold;">
          <font style="letter-spacing:-0.18pt;">Jason Few </font>
          <br >
          <font style="letter-spacing:-0.18pt;">President and Chief Executive Officer </font>
          <br >
          <font style="letter-spacing:-0.18pt;">FuelCell Energy, Inc.</font>
          <br >
          <font style="letter-spacing:-0.18pt;">3 Great Pasture Road </font>
          <br >
          <font style="letter-spacing:-0.18pt;">Danbury, Connecticut 06810</font>
          <br >
          <font style="letter-spacing:-0.18pt;">(203) 825-6000</font><font style="font-weight:normal;letter-spacing:0.18pt;"> </font>
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          <font style="letter-spacing:0.16pt;">(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)</font><font style="font-size:9pt;">&#8203;<font style="letter-spacing:0.18pt;"> </font></font>
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          <font style="letter-spacing:-0.18pt;">With copies to:</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.18pt;"> </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:264.66pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.18pt;">Megan A. Odroniec, Esq.</font>
                <br >
                <font style="letter-spacing:-0.18pt;">Foley &amp; Lardner LLP</font>
                <br >
                <font style="letter-spacing:-0.18pt;">100 North Tampa Street, Suite 2700</font>
                <br >
                <font style="letter-spacing:-0.18pt;">Tampa, Florida 33602</font>
                <br >
                <font style="letter-spacing:-0.18pt;">Telephone: (813) 229-2300</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:264.65pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.18pt;">Joshua Dolger, Esq.</font>
                <br >
                <font style="letter-spacing:-0.18pt;">Executive Vice President, General Counsel and</font>
                <br >
                <font style="letter-spacing:-0.18pt;">Corporate Secretary</font>
                <br >
                <font style="letter-spacing:-0.18pt;">FuelCell Energy, Inc.</font>
                <br >
                <font style="letter-spacing:-0.18pt;">3 Great Pasture Road</font>
                <br >
                <font style="letter-spacing:-0.18pt;">Danbury, Connecticut 06810</font>
                <br >
                <font style="letter-spacing:-0.18pt;">Telephone: (203) 825-6000</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        <div style="margin-top:11pt; text-align:center; width:541.31pt; line-height:10pt;font-weight:bold;">
          <font style="letter-spacing:-0.18pt;">Approximate date of commencement of proposed sale to the public: From time to time after the effective date of this registration statement.</font><font style="font-weight:normal;letter-spacing:0.18pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541.31pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box: &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541.31pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">If any of the securities being registered on this Form 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:&#160;&#9746; </font>
        </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541.31pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">If this Form 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. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541.31pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">If this Form 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. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541.31pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule&#160;462(e) under the Securities Act, check the following box. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541.31pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule&#160;413(b) under the Securities Act, check the following box. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541.31pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">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 &#8220;emerging growth company&#8221; in Rule&#160;12b-2 of the Exchange Act. </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:95.47pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.18pt;">Large accelerated filer &#9744; </font>
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            </td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:73.49pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.18pt;">Accelerated filer &#9746; </font>
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            </td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:91.38pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.18pt;">Non-accelerated filer &#9744; </font>
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            </td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:114.98pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.18pt;">Smaller reporting company &#9744; </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:9pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:9pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:95.47pt;">&#8203;</td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:73.49pt;">&#8203;</td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:91.38pt;">&#8203;</td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:0pt; width:21pt;">&#8203;</td>
            <td style="padding:3.5pt 0.5pt 1pt 0pt; width:114.98pt;text-align:right;">
              <div style="white-space:nowrap; text-align:right;">
                <font style="letter-spacing:0.18pt;">Emerging growth company &#9744;</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:11pt; width:541.31pt; line-height:10pt;">
          <font style="letter-spacing:0.18pt;">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 the Securities Act. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541.31pt; line-height:10pt;font-weight:bold;">
          <font style="letter-spacing:-0.18pt;">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&#160;8(a) of the Securities Act of 1933, as amended, or until this registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section&#160;8(a), may determine.</font>
        </div>
        <div style="margin-top:4.7pt; width:541.31pt;">
          <div style="margin-left: 0pt; width: 541.31pt; margin-top: 4.70000000000005pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:2.2pt; width:541.31pt;">
          <div style="margin-left: 0pt; width: 541.31pt; margin-top: 2.19999999999993pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
        </div>
      </div>
      <hr >
    </div>
    <div style="position:relative;overflow:hidden;min-height:775.71pt;page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="position:absolute;top:738.83pt;left:48.66pt;height:30.02pt;width:706pt;transform-origin:0pt -0pt;transform:rotate(-90deg) translate(0%, 0%);">
        <div style="text-align:justify; width:706pt; line-height:9.5pt;font-weight:bold;color:#FC0014;font-family:Helvetica, Arial, sans-serif;font-size:8pt;">
          <font style="letter-spacing:-0.08pt;">The information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and we are not soliciting offers to buy these securities in any state or jurisdiction where the offer or sale is not permitted. </font>
        </div>
      </div>
      <div style="margin-top:27.85pt;margin-bottom:51.9pt;margin-left:87.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;color:#FC0014;">
          <font style="letter-spacing:-0.2pt;">Subject to Completion, dated April&#160;29, 2025</font><font style="font-weight:normal;color:#000000;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PROSPECTUS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="position:relative;margin-top:10pt; text-align:center; width:456pt;">
          <img src="lg_fuelcellenergyvert-4c.jpg" alt="[MISSING IMAGE: lg_fuelcellenergyvert-4c.jpg]" height="63" width="184" >
        </div>
        <div style="margin-top:17pt; text-align:center; width:456pt; line-height:18pt;font-weight:bold;font-size:16pt;">
          <font style="letter-spacing:-0.32pt;">FuelCell Energy, Inc.</font><font style="font-weight:normal;letter-spacing:0.32pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">$200,000,000</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">Common Stock </font>
          <br >
          <font style="letter-spacing:-0.28pt;">Preferred Stock </font>
          <br >
          <font style="letter-spacing:-0.28pt;">Debt Securities </font>
          <br >
          <font style="letter-spacing:-0.28pt;">Warrants </font>
          <br >
          <font style="letter-spacing:-0.28pt;">Units</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may offer and sell from time to time up to $200&#160;million in the aggregate of the securities described in this prospectus. We may sell any combination of these securities in one or more offerings on the terms to be decided at the time of sale. We will provide specific terms of the offering in supplements to this prospectus. You should read this prospectus and any prospectus supplement carefully before you invest. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Securities may be sold directly by us, through dealers or agents designated from time to time, to or through underwriters or through a combination of these methods. See &#8220;Plan of Distribution&#8221; in this prospectus for more information. We may also describe the plan of distribution for any particular offering in any applicable prospectus supplement. If any agents, underwriters or dealers are involved in the sale in respect of which this prospectus is being delivered, we will disclose their names and the nature of our arrangements with them in a prospectus supplement. The net proceeds we expect to receive from any such sale will also be included in a prospectus supplement. No securities may be sold without delivery of this prospectus and the applicable prospectus supplement describing the method and terms of the offering. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our common stock is listed on The Nasdaq Global Market under the symbol &#8220;FCEL.&#8221; On April&#160;28, 2025, the last reported sale price for our common stock was $4.04 per share. </font>
        </div>
        <div style="margin-top:18.5pt; text-align:center; width:456pt;">
          <div style="margin-left: 38.158%; margin-right: 38.158%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="text-indent:20pt; margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Investing in our securities involves a high degree of risk. See &#8220;Risk Factors&#8221; on page <a href="#tRIFA">4</a> of this prospectus and any other risk factors included in any accompanying prospectus supplement and in the documents incorporated by reference in this prospectus and in any accompanying prospectus supplement for a discussion of the factors you should carefully consider before deciding to purchase our securities.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This prospectus may not be used to consummate sales of our securities unless, to the extent required by applicable law, it is accompanied by a prospectus supplement. </font>
        </div>
        <div style="margin-top:18.5pt; text-align:center; width:456pt;">
          <div style="margin-left: 38.158%; margin-right: 38.158%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:76pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The date of this prospectus is&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; &#8199;&#8199;, 2025.</font>
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="TOC">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:180pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">TABLE OF CONTENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:247pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tATP"><font style="letter-spacing:0.2pt;">ABOUT THIS PROSPECTUS </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tATP">1</a></font> <a href="#tATP"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tFOST"><font style="letter-spacing:0.2pt;">FORWARD-LOOKING STATEMENTS </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tFOST">1</a></font> <a href="#tFOST"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tIBR"><font style="letter-spacing:0.2pt;">INCORPORATION BY REFERENCE </font></a>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
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              <font style="letter-spacing:0.2pt;"><a href="#tIBR">2</a></font> <a href="#tIBR"></a></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tOUCO"><font style="letter-spacing:0.2pt;">OUR COMPANY </font></a>
              </div>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tOUCO">3</a></font> <a href="#tOUCO"></a></td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:434pt;text-align:left;">
              <div style="white-space:nowrap;">
                <a href="#tRIFA"><font style="letter-spacing:0.2pt;">RISK FACTORS </font></a>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:10.5pt; text-align:right; white-space:nowrap;">
              <font style="letter-spacing:0.2pt;"><a href="#tRIFA">4</a></font> <a href="#tRIFA"></a></td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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                <a href="#tUOP"><font style="letter-spacing:0.2pt;">USE OF PROCEEDS </font></a>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
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              <font style="letter-spacing:0.2pt;"><a href="#tUOP">5</a></font> <a href="#tUOP"></a></td>
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              <div style="white-space:nowrap;">
                <a href="#tTSWM"><font style="letter-spacing:0.2pt;">THE SECURITIES WE MAY OFFER </font></a>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
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              <font style="letter-spacing:0.2pt;"><a href="#tTSWM">5</a></font> <a href="#tTSWM"></a></td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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                <a href="#tDOCS"><font style="letter-spacing:0.2pt;">DESCRIPTION OF CAPITAL STOCK </font></a>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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              <font style="letter-spacing:0.2pt;"><a href="#tDOCS">6</a></font> <a href="#tDOCS"></a></td>
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              <div style="margin-left:10pt; text-indent:-10pt;">
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              <font style="letter-spacing:0.2pt;"><a href="#tDODS">13</a></font> <a href="#tDODS"></a></td>
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              <div style="white-space:nowrap;">
                <a href="#tWYCF"><font style="letter-spacing:0.2pt;">WHERE YOU CAN FIND ADDITIONAL INFORMATION </font></a>
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              <font style="letter-spacing:0.2pt;"><a href="#tWYCF">25</a></font>
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          <font style="letter-spacing:-0.2pt;">Neither we nor the underwriters (if any) have authorized anyone to provide you with any information other than that contained in or incorporated by reference into this prospectus or any amendment or supplement to this prospectus or in any free writing prospectus prepared by or on behalf of us or to which we have referred you. We and the underwriters (if any) take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus and any accompanying prospectus supplement do not constitute an offer to sell or the solicitation of an offer to buy any securities other than the securities described in any applicable prospectus supplement or an offer to sell or the solicitation of an offer to buy such securities in any circumstances in which such offer or solicitation is unlawful. You should assume that the information in this prospectus, any applicable prospectus supplement or any related free writing prospectus is accurate only as of the date on the front of the document and that any information we have incorporated by reference is accurate only as of the date of the document incorporated by reference, regardless of the time of delivery of this prospectus, any applicable prospectus supplement or any related free writing prospectus, or any sale of a security. Our business, financial condition, results of operations and prospects may have changed materially since those dates.</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tATP">&#8203;</a><a name="tFOST">&#8203;</a>
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        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ABOUT THIS PROSPECTUS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">This prospectus is part of a registration statement that FuelCell Energy, Inc. (&#8220;FuelCell Energy,&#8221; the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;our,&#8221; &#8220;us&#8221; or similar terms) 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 the securities or combination of the securities described in this prospectus in one or more offerings from time to time for an aggregate offering price of up to $200&#160;million. We have provided to you in this prospectus a general description of the securities that we may offer. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Each time we sell securities, we will, to the extent required by law, provide a prospectus supplement that will contain information about the specific terms of the offering. We may also add, update or change in any accompanying prospectus supplement any of the information contained in this prospectus. To the extent there is a conflict between the information contained in this prospectus and the prospectus supplement, you should rely on the information in the prospectus supplement, provided that if any statement in one of these documents is inconsistent with a statement in another document having a later date&#8201;&#8212;&#8201;for example, a document incorporated by reference in this prospectus or any prospectus supplement&#8201;&#8212;&#8201;the statement in the document having the later date modifies or supersedes the earlier statement. This prospectus, together with any accompanying prospectus supplement and any other document we may authorize to be delivered to you, includes all material information relating to the offering of our securities. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">As permitted by the rules and regulations of the SEC, the registration statement, of which this prospectus forms a part, includes and/or incorporates by reference additional information not contained in this prospectus. You may read the registration statement and the other reports we file with the SEC at the SEC&#8217;s website as described below under the heading &#8220;Where You Can Find Additional Information.&#8221; </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">FORWARD-LOOKING STATEMENTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">This prospectus, any prospectus supplement, the documents incorporated by reference herein and therein and any related free writing prospectuses issued by us may contain forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995 (the &#8220;PSLRA&#8221;)) about our financial condition, results of operations, plans, objectives, expectations, future performance and business. Statements preceded by, followed by or that include words such as &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;estimates,&#8221; &#8220;goals,&#8221; &#8220;projects,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;predicts,&#8221; &#8220;should,&#8221; &#8220;seeks,&#8221; &#8220;will,&#8221; &#8220;could,&#8221; &#8220;would,&#8221; &#8220;may,&#8221; &#8220;forecast,&#8221; or words or phrases of similar import are intended to identify some of the forward- looking statements and are included, along with this statement, for purposes of complying with the safe harbor provisions of the PSLRA. Forward-looking statements are neither historical facts, nor assurances of future performance. Instead, such statements are based only on our beliefs, expectations and assumptions regarding the future. As such, the realization of matters expressed in forward-looking statements involves inherent risks and uncertainties. Our actual results and future events may differ materially from those set forth in or contemplated by the forward-looking statements due to, among other factors, the risks and uncertainties described in or incorporated by reference into this prospectus, including under the heading &#8220;Risk Factors,&#8221; as well as any risks or uncertainties described in or incorporated by reference into any prospectus supplement. Any forward-looking statement contained in this prospectus, any prospectus supplement, the documents incorporated by reference herein and therein, and any related free writing prospectuses issued by us speaks only as of the date on which the statement was made, and we undertake no obligation to update publicly or revise any forward-looking statements for any reason, whether as a result of new information, future events or otherwise. New risks emerge from time to time, and we cannot predict all of the risks that may impact our business or the extent to which any particular risk, or combination of risks, may cause actual results to differ materially from those contained in any forward-looking statement. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Market data and industry forecasts and projections used in this prospectus and documents incorporated by reference herein have been obtained from independent industry sources. Forecasts, projections and other forward-looking information obtained from such sources are subject to similar qualifications and uncertainties as other forward-looking statements in this prospectus and documents incorporated by reference herein. </font>
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          <font style="letter-spacing:0.2pt;">1</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tIBR">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">INCORPORATION BY REFERENCE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The SEC allows us to &#8220;incorporate by reference&#8221; the information that we file with it, which means that we can disclose important information to you by referring you to other documents. The information incorporated by reference is an important part of this prospectus. We incorporate by reference the following documents (other than information furnished rather than filed): </font>
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          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">our <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000155837024016497/fcel-20241031x10k.htm">Annual Report on Form 10-K for the fiscal year ended October&#160;31, 2024 filed with the SEC on December&#160;27, 2024</a>; </font>
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          <font style="letter-spacing:0.2pt;">our <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000155837025002637/fcel-20250131x10q.htm">Quarterly Report on Form 10-Q for the quarter ended January&#160;31, 2025 filed with the SEC on March&#160;11, 2025</a>; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">our Current Reports on Form 8-K filed with the SEC on <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000155837024014138/fcel-20241031x8k.htm">November&#160;1, 2024</a>, <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000110465924115093/tm2427658d1_8k.htm">November&#160;7, 2024</a>, <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000155837024015778/fcel-20241113x8k.htm">November&#160;15, 2024</a>, <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000155837024015928/fcel-20241125x8k.htm">November&#160;26, 2024</a>, <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000155837025000037/fcel-20241230x8k.htm">January&#160;6, 2025</a>, <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000110465925031683/tm2511446d1_8k.htm">April&#160;3, 2025</a>, <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000155837025005071/fcel-20250417x8k.htm">April&#160;21, 2025</a> and <a style="-sec-extract:exhibit" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000155837025005823/fcel-20250423x8k.htm">April&#160;29, 2025</a>; </font>
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          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">our <a style="-sec-extract:exhibit" href="http://www.sec.gov/ix?doc=/Archives/edgar/data/886128/000155837025001307/fcel-20250403xdef14a.htm">definitive proxy statement filed with the SEC on February&#160;21, 2025</a>, as supplemented and amended by our <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000110465925031689/tm2511446d2_defa14a.htm">supplement to the definitive proxy statement filed with the SEC on April&#160;3, 2025</a>; and </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the description of our common stock set forth in our registration statement on <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000104264500000195/0001042645-00-000195-0001.txt">Form 8-A, filed with the SEC on June&#160;6, 2000</a>, including any amendments or reports filed for the purpose of updating such description, including <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000155837024016497/fcel-20241031xex4d1.htm">Exhibit&#160;4.1 to the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended October&#160;31, 2024</a>. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Notwithstanding the foregoing, information furnished under Items&#160;2.02 and 7.01 of any Current Report on Form 8-K, including the related exhibits under Item&#160;9.01, is not incorporated by reference in this prospectus. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">All reports and other documents we file pursuant to Section&#160;13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;) (other than information furnished rather than filed), (i)&#160;on or after the date of filing of the registration statement of which this prospectus is a part and prior to the effectiveness of such registration statement and (ii)&#160;on or after the effectiveness of the registration statement until the earlier of the date on which all of the securities registered hereunder have been sold or the registration statement of which this prospectus is a part has been withdrawn, will also be incorporated by reference into this prospectus and deemed to be part of this prospectus from the date of the filing of such reports and documents. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We will provide without charge, upon written or oral request, a copy of any or all of the documents that are incorporated by reference into this prospectus and a copy of any or all other contracts or documents which are referred to in this prospectus. You may request a copy of any or all of these documents, which will be provided to you at no cost, by writing or telephoning us using the following contact information: </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">FuelCell Energy, Inc.</font>
          <br >
          <font style="letter-spacing:0.2pt;">Attention: Corporate Secretary</font>
          <br >
          <font style="letter-spacing:0.2pt;">3 Great Pasture Road</font>
          <br >
          <font style="letter-spacing:0.2pt;">Danbury, Connecticut 06810</font>
          <br >
          <font style="letter-spacing:0.2pt;">Telephone: (203) 825-6000 </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our SEC filings are also available to the public on the &#8220;Investors&#8221; tab of our website at www.fuelcellenergy.com. The information on, or that can be accessed through, our website is not incorporated by reference in this prospectus, and you should not consider it to be a part of this prospectus. Our website address is included as an inactive textual reference only. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">2</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tOUCO">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">OUR COMPANY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">FuelCell Energy, Inc.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">At FuelCell Energy, our purpose is to enable a world powered by clean energy. We are a global leader in delivering a variety of clean energy solutions to address some of the world&#8217;s most critical challenges around energy access, resilience, reliability, affordability, safety and security. Since our inception, FuelCell Energy has been innovating and developing commercial technologies that produce clean electricity, heat, clean hydrogen, and water. We are also proud to be at the forefront of what we believe to be one of the most critical technologies required to achieve the world&#8217;s overall emissions objectives: carbon capture. Today, we offer commercial technology that produces clean electricity, heat, clean hydrogen, and water and is also capable of recovering and capturing carbon for utilization and/or sequestration, depending on product configuration and application. We also continue to invest in product development and commercializing technologies that are expected to add new capabilities to our platforms&#8217; abilities to deliver hydrogen and long duration hydrogen-based energy storage through our solid oxide technologies, as well as further enhance our existing platforms&#8217; carbon capture solutions. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We target a range of markets and applications with our products, including utilities and independent power producers, data centers, wastewater treatment, commercial and hospitality, food and beverage, and microgrids, among others. We market our products primarily in the United States, Europe and Korea, and we are also pursuing opportunities in other countries around the world. We target for expansion and development markets and geographic regions that benefit from and value clean distributed generation; are located where there are high energy costs, poor grid reliability, and/or challenged transmission and distribution lines; can leverage the multiple value streams delivered by our platforms (electricity, hydrogen, thermal, water, and carbon recovery); are aligned with regulatory frameworks that harmonize energy, economic and environmental policies; and are committed to reducing their Scope 1 and Scope 2 emissions. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">FuelCell Energy, headquartered in Danbury, Connecticut, was founded in 1969 as a New York corporation to provide applied research and development services on a contract basis. We completed our initial public offering in 1992 and reincorporated in Delaware in 1999. We began selling stationary fuel cell power plants commercially in 2003. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Corporate Information</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our principal executive offices are located at 3 Great Pasture Road, Danbury, Connecticut 06810. Our telephone number is (203) 825-6000. We maintain a website at www.fuelcellenergy.com. The information on, or that can be accessed through, our website is not incorporated by reference in this prospectus, and you should not consider it to be a part of this prospectus. Our website address is included as an inactive textual reference only. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In this prospectus, unless otherwise stated or the context otherwise requires, references to &#8220;FuelCell Energy,&#8221; the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221; and similar references refer to FuelCell Energy, Inc. and our consolidated subsidiaries. </font>
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          <font style="letter-spacing:0.2pt;">3</font>
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      <div style="margin-top:6pt;margin-bottom:536pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:-0.2pt;">RISK FACTORS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">An investment in our securities involves a high degree of risk. You should carefully consider the risk factors incorporated herein by reference to our most recent Annual Report on Form 10-K and the other information contained in this prospectus, as updated by our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other subsequent filings under the Exchange Act and the risk factors and other information contained or incorporated by reference in the applicable prospectus supplement before acquiring any of our securities. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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          <font style="letter-spacing:0.2pt;">4</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tUOP">&#8203;</a><a name="tTSWM">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">USE OF PROCEEDS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless otherwise provided in the applicable prospectus supplement, we currently intend to use the net proceeds from our sale of securities under this prospectus for general corporate purposes, which may include future investments in businesses, products, services and/or technologies, including strategic growth and acquisition opportunities, the repayment, redemption or refinancing of indebtedness, research with respect to and the development and commercialization of our products, working capital, capital expenditures, and acquisitions and repurchases of our securities. We may set forth additional information regarding the use of proceeds from the sale of the securities we offer under this prospectus in a prospectus supplement relating to the specific offering. We have not determined the amount of net proceeds to be used specifically for the foregoing purposes. As a result, our management will have broad discretion in the allocation of the net proceeds. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THE SECURITIES WE MAY OFFER</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may sell common stock, preferred stock, debt securities and warrants, as well as&#160;units that include any combination of the foregoing securities, in one or more offerings from time to time under this prospectus at prices and on terms to be determined at the time of any offering. This prospectus provides you with a general description of the securities we may offer. Each time we offer a type or series of securities under this prospectus, we will provide a prospectus supplement or free writing prospectus, or both, that will describe the specific amounts, prices and other important terms of the securities being offered.</font>
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          <font style="letter-spacing:0.2pt;">5</font>
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          <font style="letter-spacing:-0.2pt;">DESCRIPTION OF CAPITAL STOCK</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">General</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following description of our capital stock is a summary and does not purport to be complete. It is subject to, and qualified in its entirety by reference to, our Certificate of Incorporation, as amended (the &#8220;Certificate of Incorporation&#8221;), including the Amended Certificate of Designation for the 5% Series&#160;B Cumulative Convertible Perpetual Preferred Stock (the &#8220;Series&#160;B Certificate of Designation&#8221;), and our Third Amended and Restated By-laws (the &#8220;By-laws&#8221;), each of which is incorporated by reference as an exhibit to the registration statement of which this prospectus is a part. We encourage you to read our Certificate of Incorporation (including the Series&#160;B Certificate of Designation), our By-laws and the applicable provisions of the Delaware General Corporation Law (&#8220;DGCL&#8221;) for additional information. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">On November&#160;8, 2024, we effectuated a 1-for-30 reverse stock split of our issued and outstanding shares of common stock (the &#8220;Reverse Stock Split&#8221;). The Reverse Stock Split did not change the total number of shares, or par value, of common stock or preferred stock authorized for issuance by the Company. Certain share numbers and per share prices, conversion rates and conversion prices herein have been adjusted to reflect the Reverse Stock Split. However, common stock share and per share amounts, conversion rates and conversion prices in certain of the documents incorporated by reference herein have not been adjusted to give effect to the Reverse Stock Split. </font>
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          <font style="letter-spacing:-0.2pt;">Authorized and Outstanding Capital Stock</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Under our Certificate of Incorporation, we are authorized to issue 1,000,000,000 shares of common stock, par value $0.0001 per share, and 250,000 shares of preferred stock, par value $0.01 per share, in one or more series designated by our board of directors, of which 105,875 shares of our preferred stock have been designated as 5% Series&#160;B Cumulative Convertible Perpetual Preferred Stock (&#8220;Series&#160;B Preferred Stock&#8221;). </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As of March&#160;24, 2025, 22,714,736 shares of our common stock were issued and outstanding and 64,020 shares of our Series&#160;B Preferred Stock were issued and outstanding. No other shares of our preferred stock were issued and outstanding. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As of March&#160;24, 2025, we were obligated, if and when the holders exercise their conversion rights, to issue approximately 1,261 shares of our common stock upon conversion of all of the issued and outstanding Series&#160;B Preferred Stock. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">As of March&#160;24, 2025, there were outstanding options to purchase 532 shares of our common stock under our equity incentive plan; 713,064 shares of our common stock were reserved for issuance upon time-based vesting of outstanding restricted stock&#160;units granted under our equity incentive plan; 318,647 shares of our common stock were reserved, at the target performance level, for potential issuance in connection with the settlement of performance-based restricted stock&#160;units granted under our equity incentive plan; 318,647 shares of our common stock were reserved, for performance above the target level up to 200% maximum performance (which includes 184,184 performance share units which may be settled in cash in lieu of shares if actual performance achieved is such that the number of performance share units earned exceeds the number of shares then available under our equity incentive plan), for potential issuance in connection with the settlement of performance-based restricted stock&#160;units granted under our equity incentive plan; 842,033 shares of our common stock were available for future grants of awards under our equity incentive plan; and 11,562 shares of our common stock were reserved for future issuance under our employee stock purchase plan. </font>
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        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As of March&#160;24, 2025, there were 19 holders of record of our common stock. </font>
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          <font style="letter-spacing:-0.2pt;">Common Stock</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Voting Rights</font><font style="font-style:italic;letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;</font><font style="letter-spacing:0.2pt;">The holders of our common stock have one vote per share. Holders of our common stock are not entitled to vote cumulatively for the election of directors. Generally, matters to be voted on by stockholders (including the election of directors in uncontested elections) must be approved by a majority of the votes properly cast on the matter at a meeting at which a quorum is present, subject to any voting rights granted to holders of any then-outstanding preferred stock. (The voting rights of the outstanding Series&#160;B </font>
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          <font style="letter-spacing:0.2pt;">6</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">Preferred Stock are described below under the heading &#8220;Series&#160;B Preferred Stock&#8221;). A plurality voting standard applies in contested director elections (i.e., when the number of nominees for election as directors exceeds the number of directors to be elected at such meeting). </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Dividends</font><font style="font-style:italic;letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;</font><font style="letter-spacing:0.2pt;">Holders of our common stock will share ratably in any dividends declared by our board of directors, subject to the preferential rights of any of our preferred stock then outstanding. (The dividend rights of the outstanding Series&#160;B Preferred Stock are described below under the heading &#8220;Series&#160;B Preferred Stock&#8221;). Dividends consisting of shares of our common stock may be paid to holders of shares of our common stock. We have never paid a cash dividend on our common stock and do not anticipate paying any cash dividends on our common stock in the foreseeable future. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Liquidation Rights</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;In the event of our liquidation, dissolution or winding up, after payment of liabilities and liquidation preferences on any of our preferred stock then outstanding, the holders of shares of our common stock are entitled to share ratably in all assets available for distribution. (The liquidation and other rights of the outstanding Series&#160;B Preferred Stock are described below under the heading &#8220;Series&#160;B Preferred Stock&#8221;). </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Other Rights</font><font style="font-style:italic;letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;</font><font style="letter-spacing:0.2pt;">Holders of shares of our common stock (solely in their capacity as holders of shares of our common stock) have no preemptive rights or rights to convert their shares of our common stock into any other securities. There are no redemption or sinking fund provisions applicable to our common stock. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Listing on The Nasdaq Global Market</font><font style="font-style:italic;letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;</font><font style="letter-spacing:0.2pt;">Our common stock is listed on The Nasdaq Global Market under the symbol &#8220;FCEL.&#8221; </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Transfer Agent and Registrar</font><font style="font-style:italic;letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;</font><font style="letter-spacing:0.2pt;">The transfer agent and registrar for our common stock is Equiniti Trust Company, LLC. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Preferred Stock</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Our board of directors has broad discretion with respect to the creation and issuance of preferred stock without stockholder approval, subject to any applicable rights of holders of shares of any series of preferred stock outstanding from time to time. Under the terms of our Certificate of Incorporation, our board of directors is authorized, subject to any limitations prescribed by law, without stockholder approval, to issue such shares of preferred stock in one or more series. Each such series of preferred stock shall have such rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, as shall be determined by the board of directors. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The purpose of authorizing the board of directors to issue preferred stock and determine its rights and preferences is to eliminate delays associated with a stockholder vote on specific issuances. The issuance of preferred stock, while providing desirable flexibility in connection with possible acquisitions and other corporate purposes, could have the effect of making it more difficult for a third party to acquire, or of discouraging a third party from acquiring, a majority of our outstanding voting stock. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The holders of our common stock may be adversely affected by the rights, privileges and preferences of holders of shares of any series of preferred stock which the board of directors may designate and we may issue from time to time. The effects of issuing preferred stock could include one or more of the following: </font>
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          <font style="letter-spacing:0.2pt;">decreasing the amount of earnings and assets available for distribution to holders of common stock; </font>
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          <font style="letter-spacing:0.2pt;">restricting dividends on the common stock; </font>
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          <font style="letter-spacing:0.2pt;">diluting the voting power of the common stock; </font>
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          <font style="letter-spacing:0.2pt;">impairing the liquidation rights of the common stock; or </font>
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          <font style="letter-spacing:0.2pt;">delaying, deferring or preventing changes in our control or management. </font>
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          <font style="letter-spacing:-0.2pt;">Series&#160;B Preferred Stock</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As of the date of this prospectus, 105,875 shares of our preferred stock have been designated as Series&#160;B Preferred Stock. </font>
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          <font style="letter-spacing:0.2pt;">7</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Ranking</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Shares of our Series&#160;B Preferred Stock rank with respect to dividend rights and rights upon our liquidation, winding up or dissolution: </font>
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          <font style="letter-spacing:0.2pt;">senior to shares of our common stock; </font>
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          <font style="letter-spacing:0.2pt;">junior to our debt obligations; and </font>
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          <font style="letter-spacing:0.2pt;">effectively junior to our subsidiaries&#8217; (i)&#160;existing and future liabilities and (ii)&#160;capital stock held by others. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Dividends</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The Series&#160;B Preferred Stock pays cumulative annual dividends of $50.00 per share, which are payable quarterly in arrears on February&#160;15, May&#160;15, August&#160;15 and November&#160;15. Dividends accumulate and are cumulative from the date of original issuance. Unpaid accumulated dividends do not bear interest. </font>
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          <font style="letter-spacing:0.2pt;">The dividend rate is subject to upward adjustment as set forth in the Series&#160;B Certificate of Designation if we fail to pay, or to set apart funds to pay, any quarterly dividend on the Series&#160;B Preferred Stock. </font>
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          <font style="letter-spacing:0.2pt;">No dividends or other distributions may be paid or set apart for payment on our common stock (other than a dividend payable solely in shares of a like or junior ranking), nor may any stock junior to or on parity with the Series&#160;B Preferred Stock be redeemed, purchased or otherwise acquired for any consideration (or any money paid to or made available for a sinking fund for such stock) by us or on our behalf (except by conversion into or exchange for shares of a like or junior ranking), unless all accumulated and unpaid dividends on the Series&#160;B Preferred Stock have been paid or funds or shares of common stock have been set aside for payment of such accumulated and unpaid dividends. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The dividends on the Series&#160;B Preferred Stock will be paid in cash, unless a registered holder elects (pursuant to the procedures set forth in the Series&#160;B Certificate of Designation) to receive such dividends in shares of our common stock. Any such shares of common stock paid in lieu of cash dividends will be treated as restricted securities and will not be transferable by the recipient thereof except pursuant to an effective registration statement or pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;). </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Liquidation</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;The holders of Series&#160;B Preferred Stock are entitled to receive, in the event that the Company is liquidated, dissolved or wound up, whether voluntarily or involuntarily, $1,000.00 per share plus all accumulated and unpaid dividends up to but excluding the date of such liquidation, dissolution, or winding up (the &#8220;Liquidation Preference&#8221;). Until the holders of Series&#160;B Preferred Stock receive the Liquidation Preference with respect to their shares of Series&#160;B Preferred Stock in full, no payment will be made on any junior shares, including shares of our common stock. After the Liquidation Preference is paid in full, holders of the Series&#160;B Preferred Stock will not be entitled to receive any further distribution of our assets. (For the avoidance of doubt, neither the voluntary sale of all or substantially all of our assets, nor a merger involving the Company, shall be deemed to be a voluntary or involuntary liquidation, dissolution or winding up of the Company.) As of January&#160;31, 2025, the issued and outstanding shares of Series&#160;B Preferred Stock had an aggregate Liquidation Preference of $64.0&#160;million. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Conversion Rights</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Each share of Series&#160;B Preferred Stock may be converted at any time, at the option of the holder, into 0.0197 shares of our common stock (which is equivalent to a conversion price of $50,760.00 per share) plus cash in lieu of fractional shares. The conversion rate is subject to adjustment upon the occurrence of certain events, as described in the Series&#160;B Certificate of Designation. The conversion rate is not adjusted for accumulated and unpaid dividends. If converted, holders of Series&#160;B Preferred Stock do not receive a cash payment for all accumulated and unpaid dividends; rather, all accumulated and unpaid dividends are canceled. </font>
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          <font style="letter-spacing:0.2pt;">We may, at our option, cause shares of Series&#160;B Preferred Stock to be automatically converted into that number of shares of our common stock that are issuable at the then-prevailing conversion rate. We may exercise our conversion right only if the closing price of our common stock exceeds 150% of the then- prevailing conversion price ($50,760.00 per share as of January&#160;31, 2025) for 20 trading days during any consecutive 30 trading day period, as described in the Series&#160;B Certificate of Designation. </font>
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          <font style="letter-spacing:0.2pt;">If the holders of Series&#160;B Preferred Stock elect to convert their shares in connection with certain &#8220;fundamental changes&#8221; &#8203;(as defined in the Series&#160;B Certificate of Designation and described below), we will </font>
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          <font style="letter-spacing:0.2pt;">8</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">in certain circumstances increase the conversion rate by a number of additional shares of common stock upon conversion or, in lieu thereof, we may in certain circumstances elect to adjust the conversion rate and related conversion obligation so that shares of Series&#160;B Preferred Stock are converted into shares of the acquiring or surviving company, in each case as described in the Series&#160;B Certificate of Designation. </font>
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          <font style="letter-spacing:0.2pt;">The adjustment of the conversion price is to prevent dilution of the interests of the holders of the Series&#160;B Preferred Stock from certain dilutive transactions with holders of our common stock. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Redemption</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;We do not have the option to redeem the Series&#160;B Preferred Stock. However, holders of the Series&#160;B Preferred Stock can require us to redeem all or a portion of their shares of Series&#160;B Preferred Stock at a redemption price equal to the Liquidation Preference of the shares to be redeemed in the case of a &#8220;fundamental change&#8221; &#8203;(as further described in the Series&#160;B Certificate of Designation). A fundamental change will be deemed to have occurred if any of the following occurs: </font>
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          <font style="letter-spacing:0.2pt;">any &#8220;person&#8221; or &#8220;group&#8221; is or becomes the beneficial owner, directly or indirectly, of 50% or more of the total voting power of all classes of our capital stock then outstanding and normally entitled to vote in the election of directors; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.81pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">during any period of two consecutive&#160;years, individuals who at the beginning of such period constituted the board of directors of the Company (together with any new directors whose election to our board of directors or whose nomination for election by the stockholders was approved by a vote of 66</font><font style=" position:relative; bottom:2.66pt;font-size:7pt;letter-spacing:0.14pt;">2</font><font style="letter-spacing:0.2pt;">&#8725;</font><font style="font-size:7pt;letter-spacing:0.14pt;">3</font><font style="letter-spacing:0.2pt;">% of our directors then still in office who were either directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the directors of the Company then in office; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">the termination of trading of our common stock on The Nasdaq Stock Market and our common stock is not approved for trading or quoted on any other U.S. securities exchange or established over-the-counter trading market in the U.S.; or </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">we (i)&#160;consolidate with or merge with or into another person or another person merges with or into our Company or (ii)&#160;sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the assets of the Company and certain of its subsidiaries, taken as a whole, to another person and, in the case of any such merger or consolidation described in clause (i), the securities that are outstanding immediately prior to such transaction (and which represent 100% of the aggregate voting power of our voting stock) are changed into or exchanged for cash, securities or property, unless pursuant to the transaction such securities are changed into or exchanged for securities of the surviving person that represent, immediately after such transaction, at least a majority of the aggregate voting power of the voting stock of the surviving person. </font>
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          <font style="letter-spacing:0.2pt;">Notwithstanding the foregoing, holders of shares of Series&#160;B Preferred Stock will not have the right to require us to redeem their shares if: </font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
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          <font style="letter-spacing:0.2pt;">the last reported sale price of shares of our common stock for any five trading days within the 10 consecutive trading days ending immediately before the later of the fundamental change or its announcement equaled or exceeded 105% of the conversion price of the Series&#160;B Preferred Stock immediately before the fundamental change or announcement; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
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          <font style="letter-spacing:0.2pt;">at least 90% of the consideration (excluding cash payments for fractional shares and in respect of dissenters&#8217; appraisal rights) in the transaction or transactions constituting the fundamental change consists of shares of capital stock traded on a U.S. national securities exchange or quoted on The Nasdaq Stock Market, or which will be so traded or quoted when issued or exchanged in connection with a fundamental change, and as a result of the transaction or transactions, shares of Series&#160;B Preferred Stock become convertible into such publicly traded securities; or </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">in the case of a merger or consolidation constituting a fundamental change (as described in the fourth bullet above), the transaction is affected solely to change our jurisdiction of incorporation. </font>
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          <font style="letter-spacing:0.2pt;">Moreover, we will not be required to redeem any Series&#160;B Preferred Stock upon the occurrence of a fundamental change if a third party makes an offer to purchase the Series&#160;B Preferred Stock in the manner, at the price, at the times and otherwise in compliance with the requirements set forth above and such third party purchases all shares of Series&#160;B Preferred Stock validly tendered and not withdrawn. </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">9</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:144pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">We may, at our option, elect to pay the redemption price in cash, in shares of our common stock valued at a discount of 5% from the market price of shares of our common stock, or in any combination thereof. Notwithstanding the foregoing, we may only pay such redemption price in shares of our common stock that are registered under the Securities Act and eligible for immediate sale in the public market by non-affiliates of our Company. </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Voting Rights</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;Holders of Series&#160;B Preferred Stock currently have no voting rights; however, holders may receive certain voting rights, as described in the Series&#160;B Certificate of Designation, if (a)&#160;dividends on any shares of Series&#160;B Preferred Stock, or any other class or series of stock ranking on parity with the Series&#160;B Preferred Stock with respect to the payment of dividends, shall be in arrears for dividend periods, whether or not consecutive, containing in the aggregate a number of days equivalent to six calendar quarters or (b)&#160;we fail to pay the redemption price, plus accrued and unpaid dividends, if any, on the redemption date for shares of Series&#160;B Preferred Stock following a fundamental change. In each such event, the holders of Series&#160;B Preferred Stock (voting separately as a class with all other classes or series of stock ranking on parity with the Series&#160;B Preferred Stock with respect to the payment of dividends and upon which like voting rights have been conferred and are exercisable) will be entitled to elect two directors to the Company&#8217;s board of directors in addition to those directors already serving on the Company&#8217;s board of directors at such time (the &#8220;Series&#160;B Directors&#8221;), at the next annual meeting of the Company&#8217;s stockholders (or at a special meeting of the Company&#8217;s stockholders called for such purpose, whichever is earlier). The right to elect the Series&#160;B Directors will continue for each subsequent annual meeting of the Company&#8217;s stockholders until all dividends accumulated on the shares of Series&#160;B Preferred Stock have been fully paid or set aside for payment or the Company pays in full or sets aside for payment such redemption price, plus accrued but unpaid dividends, if any, on the redemption date for the shares of Series&#160;B Preferred Stock following a fundamental change. The term of office of any Series&#160;B Directors will terminate immediately upon the termination of the right of holders of Series&#160;B Preferred Stock to elect such Series&#160;B Directors, as described in this paragraph. Each holder of Series&#160;B Preferred Stock will have one vote for each share of Series&#160;B Preferred Stock held in the election of Series&#160;B Directors. We previously failed to make timely payment of the accrued dividends on the Series&#160;B Preferred Stock with respect to the May&#160;15, 2019 and August&#160;15, 2019 dividend payment dates. Such amounts were fully paid on or about November&#160;15, 2019. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">So long as any shares of Series&#160;B Preferred Stock remain outstanding, we will not, without the consent of the holders of at least two-thirds of the shares of Series&#160;B Preferred Stock outstanding at the time (voting separately as a class with all other series of preferred stock, if any, on parity with our Series&#160;B Preferred Stock upon which like voting rights have been conferred and are exercisable) issue or increase the authorized amount of any class or series of shares ranking senior to the outstanding shares of the Series&#160;B Preferred Stock as to dividends or upon liquidation. In addition, we will not, subject to certain conditions, amend, alter or repeal provisions of our Certificate of Incorporation, including the Series&#160;B Certificate of Designation, whether by merger, consolidation or otherwise, so as to adversely amend, alter or affect any power, preference or special right of the outstanding shares of Series&#160;B Preferred Stock or the holders thereof without the affirmative vote of not less than two-thirds of the issued and outstanding shares of Series&#160;B Preferred Stock. </font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">10</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tCPOD">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">CERTAIN PROVISIONS OF DELAWARE LAW, OUR CERTIFICATE OF INCORPORATION, </font>
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          <font style="letter-spacing:-0.2pt;">AND BY-LAWS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The following description of certain provisions of Delaware law is only a summary. For a complete description, we refer you to the DGCL and to our Certificate of Incorporation and our By-laws, the forms of which are filed as exhibits to the registration statement of which this prospectus forms a part. </font>
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          <font style="letter-spacing:-0.2pt;">Anti-Takeover Provisions</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Provisions of our Certificate of Incorporation and By-laws.&nbsp;&nbsp;&nbsp;</font><font style="letter-spacing:0.2pt;">A number of provisions of our Certificate of Incorporation and By-laws concern matters of corporate governance and the rights of stockholders. Some of these provisions, including, but not limited to, the inability of stockholders to take action by unanimous written consent, certain advance notice requirements for stockholder proposals and director nominations, supermajority voting provisions requiring the affirmative vote of eighty&#160;percent of the votes entitled to be cast by the stockholders to amend or repeal voting rights provisions (e.g., provisions giving holders of our common stock one vote per share, provisions prohibiting stockholders from taking action without a meeting, and the supermajority voting provisions), the filling of vacancies on the board of directors by the affirmative vote of a majority of the remaining directors, and the ability of the board of directors to issue shares of preferred stock and to set the voting rights, preferences and other terms thereof without further stockholder action, may be deemed to have an anti-takeover effect and may discourage takeover attempts not first approved by the board of directors, including takeovers which stockholders may deem to be in their best interests. If takeover attempts are discouraged, temporary fluctuations in the market price of shares of our common stock, which may result from actual or rumored takeover attempts, may be inhibited. These provisions, together with the ability of the board of directors to issue preferred stock without further stockholder action, could also delay or frustrate the removal of incumbent directors or the assumption of control by our stockholders, even if the removal or assumption would be beneficial to our stockholders. These provisions could also discourage or inhibit a merger, tender offer or proxy contest, even if favorable to the interests of stockholders, and could depress the market price of our common stock. The board of directors believes these provisions are appropriate to protect our interests and the interests of our stockholders. The board of directors has no present plans to adopt any further measures or devices which may be deemed to have an &#8220;anti-takeover effect.&#8221; </font>
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          <font style="font-style:italic;font-weight:bold;letter-spacing:-0.2pt;">Delaware Anti-Takeover Provisions.&nbsp;&nbsp;&nbsp;</font><font style="letter-spacing:0.2pt;">We are subject to Section&#160;203 of the DGCL, which prohibits a publicly-held Delaware corporation from engaging in a &#8220;business combination,&#8221; except under certain circumstances, with an &#8220;interested stockholder&#8221; for a period of three&#160;years following the date such person became an &#8220;interested stockholder&#8221; unless: </font>
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          <font style="letter-spacing:0.2pt;">before such person became an interested stockholder, the board of directors of the corporation approved either the business combination or the transaction that resulted in the interested stockholder becoming an interested stockholder; </font>
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          <font style="letter-spacing:0.2pt;">upon the consummation of the transaction that resulted in the interested stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding shares held by directors who are also officers of the corporation and shares held by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or </font>
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          <font style="letter-spacing:0.2pt;">at or following the time such person became an interested stockholder, the business combination is approved by the board of directors of the corporation and authorized at an annual or special meeting of stockholders (and not by written consent) by the affirmative vote of the holders of at least 66</font><font style=" position:relative; bottom:2.66pt;font-size:7pt;letter-spacing:0.14pt;">2</font><font style="letter-spacing:0.2pt;">&#8725;</font><font style="font-size:7pt;letter-spacing:0.14pt;">3</font><font style="letter-spacing:0.2pt;">% of the outstanding voting stock of the corporation which is not owned by the interested stockholder. </font>
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          <font style="letter-spacing:0.2pt;">The term &#8220;interested stockholder&#8221; generally is defined as a person who, together with affiliates and associates, owns, or, within the three&#160;years prior to the determination of interested stockholder status, owned, 15% or more of a corporation&#8217;s outstanding voting stock. The term &#8220;business combination&#8221; includes mergers, asset or stock sales and other similar transactions resulting in a financial benefit to an interested stockholder. Section&#160;203 makes it more difficult for an &#8220;interested stockholder&#8221; to effect various business </font>
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          <font style="letter-spacing:0.2pt;">11</font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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          <font style="letter-spacing:0.2pt;">combinations with a corporation for a three-year period. The existence of this provision would be expected to have an anti-takeover effect with respect to transactions not approved in advance by the board of directors, including discouraging attempts that might result in a premium over the market price for the shares of our common stock held by stockholders. A Delaware corporation may &#8220;opt out&#8221; of Section&#160;203 with an express provision in its original certificate of incorporation or any amendment thereto. Our Certificate of Incorporation does not contain any such exclusion. </font>
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          <font style="letter-spacing:-0.2pt;">Exclusive Forum</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our By-laws provide that unless we consent in writing to an alternative forum, a state court located within the State of Delaware (or, if no state court located within the State of Delaware has jurisdiction, the federal district court for the District of Delaware) will be the sole and exclusive forum for: (i)&#160;any derivative action or proceeding brought on behalf of the Company; (ii)&#160;any action asserting a claim of breach of a fiduciary duty owed by any of the Company&#8217;s directors or officers or other employees to the Company or our stockholders; (iii)&#160;any action asserting a claim against the Company or any of our directors or officers or other employees arising pursuant to any provision of the DGCL or our Certificate of Incorporation or our By-laws (as either may be amended from time to time); or (iv)&#160;any action asserting a claim against the Company or any of our directors or officers or other employees which claim is governed by the internal affairs doctrine. </font>
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          <font style="letter-spacing:-0.2pt;">Limitations of Directors&#8217; Liability</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our Certificate of Incorporation provides that none of our directors will be personally liable to the Company or our stockholders for monetary damages for breach of fiduciary duty as a director, except for liability: </font>
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          <font style="letter-spacing:0.2pt;">for any breach of the director&#8217;s duty of loyalty to the Company or our stockholders; </font>
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          <font style="letter-spacing:0.2pt;">&#8226;</font>
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          <font style="letter-spacing:0.2pt;">for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law; </font>
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          <font style="letter-spacing:0.2pt;">under Section&#160;174 of the DGCL; or </font>
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          <font style="letter-spacing:0.2pt;">for any transaction from which the director derived an improper personal benefit. </font>
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          <font style="letter-spacing:0.2pt;">The effect of these provisions is to eliminate our rights and the rights of our stockholders (through stockholders&#8217; derivative suits on behalf of us) to recover monetary damages against a director for breach of fiduciary duty as a director (including breaches resulting from grossly negligent behavior), except in the situations described above. These provisions do not limit the liability of directors under federal securities laws and do not affect the availability of equitable remedies such as an injunction or rescission based upon a director&#8217;s breach of his duty of care. </font>
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          <font style="letter-spacing:-0.2pt;">Disclosure of Commission Position on Indemnification for Securities Act Liabilities</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Our Certificate of Incorporation provides that none of our directors will be personally liable to the Company or our stockholders for monetary damages for breach of fiduciary duty as a director, except to the extent described above. Our By-laws provide for indemnification of our officers and directors to the fullest extent permitted by applicable law. Insofar as indemnification for liabilities under the Securities Act may be permitted to directors, officers or controlling persons of the Company pursuant to our Certificate of Incorporation, our By-laws, applicable law, or otherwise, 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. </font>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDODS">&#8203;</a>
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          <font style="letter-spacing:-0.2pt;">DESCRIPTION OF DEBT SECURITIES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The following description, together with the additional information we include in any applicable prospectus supplement, summarizes certain general terms and provisions of the debt securities that we may offer under this prospectus. When we offer to sell a particular series of debt securities, we will describe the specific terms of the series in a supplement to this prospectus. We will also indicate in the supplement to what extent the general terms and provisions described in this prospectus apply to a particular series of debt securities. </font>
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          <font style="letter-spacing:0.2pt;">We may issue debt securities either separately, or together with, or upon the conversion or exercise of or in exchange for, other securities described in this prospectus. Debt securities may be our senior, senior subordinated or subordinated obligations and, unless otherwise specified in a supplement to this prospectus, the debt securities will be our direct, unsecured obligations and may be issued in one or more series. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The debt securities will be issued under an indenture, dated as of April&#160;29, 2025, among us and Wilmington Trust, National Association, as trustee. We have summarized select portions of the indenture below. The summary is not complete. The indenture has been incorporated by reference as an exhibit to the registration statement. You should read the indenture for provisions that may be important to you. Capitalized terms used in the summary have the meanings specified in the indenture. The indenture is governed by the Trust Indenture Act of 1939, as amended. </font>
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          <font style="letter-spacing:-0.2pt;">General</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">The terms of each series of debt securities will be established by or pursuant to a resolution of our board of directors and set forth or determined in the manner provided in a resolution of our board of directors, in an officer&#8217;s certificate or by a supplemental indenture. The particular terms of each series of debt securities will be described in a prospectus supplement relating to such series (including any pricing supplement or term sheet). </font>
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          <font style="letter-spacing:0.2pt;">We can issue an unlimited amount of debt securities under the indenture that may be in one or more series with the same or various maturities, at par, at a premium, or at a discount. We will set forth in a prospectus supplement (including any pricing supplement or term sheet) relating to any series of debt securities being offered the aggregate principal amount and the following terms of the debt securities, if applicable: </font>
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          <font style="letter-spacing:0.2pt;">the title and ranking of the debt securities (including the terms of any subordination provisions); </font>
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          <font style="letter-spacing:0.2pt;">the price or prices (expressed as a&#160;percentage of the principal amount) at which we will sell the debt securities; </font>
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          <font style="letter-spacing:0.2pt;">any limit upon the aggregate principal amount of the debt securities; </font>
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          <font style="letter-spacing:0.2pt;">the date or dates on which the principal of the securities of the series is payable; </font>
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          <font style="letter-spacing:0.2pt;">the rate or rates (which may be fixed or variable) per annum or the method used to determine the rate or rates (including any commodity, commodity index, stock exchange index or financial index) at which the debt securities will bear interest, the date or dates from which interest will accrue, the date or dates on which interest will commence and be payable and any regular record date for the interest payable on any interest payment date; </font>
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          <font style="letter-spacing:0.2pt;">the place or places where principal of, and interest, if any, on the debt securities will be payable (and the method of such payment), where the securities of such series may be surrendered for registration of transfer or exchange, and where notices and demands to us in respect of the debt securities may be delivered; </font>
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the period or periods within which, the price or prices at which and the terms and conditions upon which we may redeem the debt securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any obligation we have to redeem or purchase the debt securities pursuant to any sinking fund or analogous provisions or at the option of a holder of debt securities and the period or periods within which, the price or prices at which and the terms and conditions upon which securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">13</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the dates on which and the price or prices at which we will repurchase debt securities at the option of the holders of debt securities and other detailed terms and provisions of these repurchase obligations; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.71pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.71pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the denominations in which the debt securities will be issued, if other than minimum denominations of $1,000 and any integral multiple thereof; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">whether the debt securities will be issued in the form of certificated debt securities or global debt securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the portion of principal amount of the debt securities payable upon declaration of acceleration of the maturity date, if other than the principal amount; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.71pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.71pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the currency of denomination of the debt securities, which may be United States dollars or any foreign currency, and if such currency of denomination is a composite currency, the agency or organization, if any, responsible for overseeing such composite currency; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the designation of the currency, currencies or currency&#160;units in which payment of principal of, premium and interest on the debt securities will be made; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">if payments of principal of, premium or interest on the debt securities will be made in one or more currencies or currency&#160;units other than that or those in which the debt securities are denominated, the manner in which the exchange rate with respect to these payments will be determined; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the manner in which the amounts of payment of principal of, premium, if any, or interest on the debt securities will be determined, if these amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.71pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.71pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any provisions relating to any security provided for the debt securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any addition to, deletion of or change in the Events of Default described in this prospectus or in the indenture with respect to the debt securities and any change in the acceleration provisions described in this prospectus or in the indenture with respect to the debt securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any addition to, deletion of or change in the covenants described in this prospectus or in the indenture with respect to the debt securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.71pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.71pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to the debt securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any other terms of the debt securities, which may supplement, modify or delete any provision of the indenture as it applies to that series, including any terms that may be required under applicable law or regulations or advisable in connection with the marketing of the securities; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">whether any of our direct or indirect subsidiaries will guarantee the debt securities of that series, including the terms of subordination, if any, of such guarantees. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">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 federal income tax considerations and other special considerations applicable to any of these debt securities in the applicable prospectus supplement. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If we denominate the purchase price of any of the debt securities in a foreign currency or currencies or a foreign currency unit or&#160;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&#160;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&#160;units in the applicable prospectus supplement. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Transfer and Exchange</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Each debt security will be represented by either one or more global securities registered in the name of a clearing agency registered under the Exchange Act, which we refer to as the depositary, or a nominee of </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">14</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">the depositary (we will refer to any debt security represented by a global debt security as a &#8220;book-entry debt security&#8221;), or a certificate issued in definitive registered form (we will refer to any debt security represented by a certificated security as a &#8220;certificated debt security&#8221;) as set forth in the applicable prospectus supplement. Except as set forth under the heading &#8220;Global Debt Securities and Book-Entry System&#8221; below, book-entry debt securities will not be issuable in certificated form. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Certificated Debt Securities</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You may transfer or exchange certificated debt securities at any office we maintain for this purpose in accordance with the terms of the indenture. No service charge will be made for any transfer or exchange of certificated debt securities, but we may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with a transfer or exchange. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You may effect the transfer of certificated debt securities and the right to receive the principal of, premium and interest on certificated debt securities only by surrendering the certificate representing those certificated debt securities and either reissuance by us or the trustee of the certificate to the new holder or the issuance by us or the trustee of a new certificate to the new holder. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Global Debt Securities and Book-Entry System</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Each global debt security representing book-entry debt securities will be deposited with, or on behalf of, the depositary, and registered in the name of the depositary or a nominee of the depositary. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Covenants</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We&#160;will set forth in the applicable prospectus supplement any restrictive covenants applicable to any issue of debt securities. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">No Protection in the Event of a Change of Control</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Unless we state otherwise in the applicable prospectus supplement, the debt securities will not contain any provisions which may afford holders of the debt securities protection in the event we have a change in control or in the event of a highly leveraged transaction (whether or not such transaction results in a change in control) which could adversely affect holders of debt securities. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Conversion or Exchange Rights</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For any series of debt securities that are convertible into or exchangeable for shares of our common stock, we will set forth in the applicable prospectus supplement the terms on which such series of debt securities may be convertible into or exchangeable for our common stock. We will include provisions as to settlement upon conversion or exchange and whether conversion or exchange is mandatory, at the option of the holder or at our option. We may include provisions pursuant to which the number of shares of our common stock that the holders of the series of debt securities receive would be subject to adjustment. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Consolidation, Merger and Sale of Assets</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may not consolidate with or merge with or into, or convey, transfer or lease all or substantially all of our properties and assets to any person, which we refer to as a successor person, unless: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.79pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">we are the surviving corporation or the successor person (if other than us) is a corporation organized and validly existing under the laws of any U.S. domestic jurisdiction and expressly assumes our obligations on the debt securities and under the indenture; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.99pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">immediately after giving effect to the transaction, no Default or Event of Default, shall have occurred and be continuing. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Notwithstanding the above, any of our subsidiaries may consolidate with, merge into or transfer all or part of its properties to us. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">15</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Events of Default</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#8220;Event of Default&#8221; means with respect to any series of debt securities, any of the following: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">default in the payment of any interest upon any debt security of that series when it becomes due and payable, and continuance of such default for a period of 30&#160;days (unless the entire amount of the payment is deposited by us with the trustee or with a paying agent prior to the expiration of the 30-day period); </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.19pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">default in the payment of principal of any security of that series at its maturity; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">default in the performance or breach of any other covenant or warranty by us in the indenture (other than a covenant or warranty that has been included in the indenture solely for the benefit of a series of debt securities other than that series), which default continues uncured for a period of 60&#160;days after we receive written notice from the trustee, or we and the trustee receive written notice from the holders of not less than 25% in principal amount of the outstanding debt securities of that series as provided in the indenture; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">certain voluntary or involuntary events of bankruptcy, insolvency or reorganization of us; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any other Event of Default provided with respect to debt securities of that series that is described in the applicable prospectus supplement. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">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 certain Events of Default or an acceleration under the indenture may constitute an event of default under certain indebtedness of ours or our subsidiaries outstanding from time to time. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We will provide the trustee written notice of any Default or Event of Default within 30&#160;days of becoming aware of the occurrence of such Default or Event of Default, which notice will describe in reasonable detail the status of such Default or Event of Default and what action we are taking or propose to take in respect thereof. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If an Event of Default 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 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 of (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) 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, 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, but before a judgment or decree for payment of the money due has been obtained by the trustee, the holders of a majority in principal amount of the outstanding debt securities of that series may rescind and annul the acceleration if all Events of Default, other than the non-payment of accelerated principal and interest, if any, with respect to debt securities of that series, have been cured or waived as provided in the indenture. We refer you to the prospectus supplement relating to any series of debt securities that are discount securities for the particular provisions relating to acceleration of a portion of the principal amount of such discount securities upon the occurrence of an Event of Default. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The indenture provides that the trustee may refuse to perform any duty or exercise any of its rights or powers under the indenture unless the trustee receives indemnity satisfactory to it against any cost, liability or expense which might be incurred by it in performing such duty or exercising such right or power. 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. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">16</font>
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">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: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">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 </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the holders of not less than 25% in principal amount of the outstanding debt securities of that series have made written request, and offered indemnity or security satisfactory to the trustee, to the trustee to institute the proceeding as trustee, and the trustee has not received from the holders of not less than a majority in 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&#160;days. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Notwithstanding any other provision in the indenture, the holder of any debt security will have an absolute and unconditional right to receive payment of the principal of, premium and any interest on that debt security on or after the due dates expressed in that debt security and to institute suit for the enforcement of payment. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The indenture requires us, within 120&#160;days after the end of our fiscal year, to furnish to the trustee a statement as to compliance with the indenture. If a Default or Event of Default occurs and is continuing with respect to the securities of any series and if it is actually known to a responsible officer of the trustee, the trustee shall send to each securityholder of the securities of that series notice of a Default or Event of Default within 90&#160;days after it occurs or, if later, after a responsible officer of the trustee has knowledge of such Default or Event of Default. The indenture provides 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 the trustee determines in good faith that withholding notice is in the interest of the holders of those debt securities. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Modification&#160;and Waiver</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We and the trustee may modify, amend or supplement the indenture or the debt securities of any series without the consent of any holder of any debt security: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to cure any ambiguity, defect or inconsistency; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to comply with covenants in the indenture described above under the heading &#8220;Consolidation, Merger and Sale of Assets&#8221;; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to provide for uncertificated securities in addition to or in place of certificated securities; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to add guarantees with respect to debt securities of any series or secure debt securities of any series; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.81pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.81pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to surrender any of our rights or powers under the indenture; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to add covenants or events of default for the benefit of the holders of debt securities of any series; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to comply with the applicable procedures of the applicable depositary; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to make any change that does not adversely affect the rights of any holder of debt securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to provide for the issuance of and establish the form and terms and conditions of debt securities of any series as permitted by the indenture; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.8pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to effect the appointment of a successor trustee or a separate trustee with respect to the debt securities of any series and to add to or change any of the provisions of the indenture to provide for or facilitate administration by more than one trustee; or </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.81pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.81pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to comply with requirements of the SEC in order to effect or maintain the qualification of the indenture under the Trust Indenture Act. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We may also modify and amend the indenture with the consent of the holders of at least a majority in principal amount of the outstanding debt securities of each series affected by the modifications or amendments. We may not make any modification or amendment without the consent of the holders of each affected debt security then outstanding if that amendment will: </font>
        </div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">17</font>
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">reduce the amount of debt securities whose holders must consent to an amendment, supplement or waiver; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">reduce the rate of or extend the time for payment of interest (including default interest) on any debt security; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">reduce the principal of or premium on or change the fixed maturity of any debt security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation with respect to any series of debt securities; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">reduce the principal amount of discount securities payable upon acceleration of maturity; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">waive a default in the payment of the principal of, premium or interest on any debt security (except a rescission of acceleration of the debt securities of any series by the holders of at least a majority in aggregate principal amount of the then outstanding debt securities of that series and a waiver of the payment default that resulted from such acceleration); </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">make the principal of or premium or interest on any debt security payable in currency other than that stated in the debt security; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
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        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">make any change to certain provisions of the indenture relating to, among other things, the right of holders of debt securities to receive payment of the principal of, premium and interest on those debt securities and to institute suit for the enforcement of any such payment and to waivers or amendments; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">waive a redemption payment with respect to any debt security. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Except for certain specified provisions, the holders of at least a majority in principal amount of the outstanding debt securities of any series may on behalf of the holders of all debt securities of that series waive our compliance with provisions of the indenture. The holders of a majority in principal amount of the outstanding debt securities of any 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 that series and its consequences, except a default in the payment of the principal of, premium or any interest on any debt security of that series; provided, however, that the holders of a majority in principal amount of the outstanding debt securities of any series may rescind an acceleration and its consequences, including any related payment default that resulted from the acceleration. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Defeasance&#160;of Debt Securities and Certain Covenants in Certain Circumstances</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Legal&#160;Defeasance</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The indenture provides that, unless otherwise provided by the terms of the applicable series of debt securities, we may be discharged from any and all obligations in respect of the debt securities of any series (subject to certain exceptions). We will be so discharged upon the irrevocable deposit with the trustee, in trust, of money and/or U.S. government obligations or, in the case of debt securities denominated in a single currency other than U.S. dollars, government obligations of the government that issued or caused to be issued such currency, that, through the payment of interest and principal in accordance with their terms, will provide money or U.S. government obligations in an amount sufficient in the opinion of a nationally recognized firm of independent public accountants or investment bank to pay and discharge each installment of principal, premium and interest on and any mandatory sinking fund payments in respect of the debt securities of that series on the stated maturity of those payments in accordance with the terms of the indenture and those debt securities. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">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 United States federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the holders of the debt securities of that series will not recognize income, gain or loss for United States federal income tax purposes as a result of the deposit, defeasance and discharge and will be subject to United States 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. </font>
        </div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">18</font>
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    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Defeasance&#160;of Certain Covenants</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The indenture provides that, unless otherwise provided by the terms of the applicable series of debt securities, upon compliance with certain conditions: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">we may omit to comply with the covenant described under the heading &#8220;Consolidation, Merger and Sale of Assets&#8221; and certain other covenants set forth in the indenture, as well as any additional covenants which may be set forth in the applicable prospectus supplement; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
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        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any omission to comply with those covenants will not constitute a Default or an Event of Default with respect to the debt securities of that series. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We refer to this as covenant defeasance. The conditions include: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">depositing with the trustee money and/or U.S. government obligations or, in the case of debt securities denominated in a single currency other than U.S. dollars, government obligations of the government that issued or caused to be issued such currency, that, through the payment of interest and principal in accordance with their terms, will provide money in an amount sufficient in the opinion of a nationally recognized firm of independent public accountants or investment bank to pay and discharge each installment of principal of, premium and interest on and any mandatory sinking fund payments in respect of the debt securities of that series on the stated maturity of those payments in accordance with the terms of the indenture and those debt securities; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">such deposit will not result in a breach or violation of, or constitute a default under the indenture or any other agreement to which we are a party; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">no Default or Event of Default with respect to the applicable series of debt securities shall have occurred or is continuing on the date of such deposit; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.7pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:5.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">delivering to the trustee an opinion of counsel to the effect 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 United States federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the holders of the debt securities of that series will not recognize income, gain or loss for United States federal income tax purposes as a result of the deposit and related covenant defeasance and will be subject to United States 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. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">No Personal Liability of Directors, Officers, Employees or Stockholders</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">None of our past, present or future directors, officers, employees or stockholders, as such, will have any liability for any of our obligations under the debt securities or the indenture or for any claim based on, or in respect or by reason of, such obligations or their creation. By accepting a debt security, each holder waives and releases all such liability. This waiver and release is part of the consideration for the issue of the debt securities. However, this waiver and release may not be effective to waive liabilities under U.S. federal securities laws, and it is the view of the SEC that such a waiver is against public policy. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Governing Law</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The indenture and the debt securities, including any claim or controversy arising out of or relating to the indenture or the securities, will be governed by the laws of the State of New York. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The indenture will provide that we, the trustee and the holders of the debt securities (by their acceptance of the debt securities) irrevocably waive, 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 the indenture, the debt securities or the transactions contemplated thereby. The indenture will provide that any legal suit, action or proceeding arising out of or based upon the indenture or the transactions contemplated thereby may be instituted in the federal courts of the United States of America located in the City of New York or the courts of the State of New York in each case located in the City of New York, and we, the trustee and the holder of the debt securities (by their acceptance of the debt securities) irrevocably submit to the non-exclusive jurisdiction of such courts in any such suit, action or proceeding. The indenture will further provide that service of any </font>
        </div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">19</font>
          <br >
        </div>
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Helvetica, Arial, sans-serif;font-size:9pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:544pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">process, summons, notice or document by mail (to the extent allowed under any applicable statute or rule of court) to such party&#8217;s address set forth in the indenture will be effective service of process for any suit, action or other proceeding brought in any such court. The indenture will further provide that we, the trustee and the holders of the debt securities (by their acceptance of the debt securities) irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding in the courts specified above and irrevocably and unconditionally waive and agree not to plead or claim any such suit, action or other proceeding has been brought in an inconvenient forum. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">20</font>
          <br >
        </div>
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDOW">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:10pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DESCRIPTION OF WARRANTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may issue warrants in the future for the purchase of debt securities, common stock, preferred stock, units or other securities. Warrants may be issued independently or together with debt securities, common stock, preferred stock or&#160;units offered by any prospectus supplement and/or other offering material and may be attached to or separate from any such 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, provided that we may also act as warrant agent and enter into warrant agreements directly with the purchasers of securities offered pursuant to this prospectus. In each case, the terms of the warrants will be set forth in a prospectus supplement and/or other offering material relating to the particular issue of warrants. The warrant agent, if any, will act solely as our agent in connection with the warrants and will not assume any obligation or relationship of agency or trust for or with any holders of warrants or beneficial owners of warrants. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The following summary of certain provisions of the warrants we may issue in the future does not purport to be complete and is subject to, and is qualified in its entirety by reference to, all provisions of the warrant agreements. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Reference is made to the prospectus supplement and/or other offering material relating to the particular issue of warrants for the terms of and information relating to such warrants, including, where applicable: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the designation, aggregate principal amount, currencies, denominations and terms of the series of debt securities purchasable upon exercise of warrants to purchase debt securities and the price at which such debt securities may be purchased upon such exercise; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the number of shares of common stock or preferred stock purchasable upon the exercise of warrants and the price at which such number of shares of common stock or preferred stock may be purchased upon such exercise; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the designation and number of&#160;units of other securities purchasable upon the exercise of warrants to purchase other securities and the price at which such number of&#160;units of such other securities may be purchased upon such exercise; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the date on which the right to exercise such warrants shall commence and the date on which such right shall expire; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">certain material U.S. federal income tax considerations applicable to such warrants; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the amount of warrants outstanding as of the most recent practicable date; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any other terms of such warrants. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Warrants will be issued in registered form only. The exercise price for warrants will be subject to adjustment as set forth in the applicable prospectus supplement and/or other offering material. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Each warrant will entitle the holder thereof to purchase such principal amount of debt securities or such number of shares of common stock, preferred stock, units or other securities at such exercise price as shall in each case be set forth in, or calculable from, the prospectus supplement and/or other offering material relating to the warrants, which exercise price may be subject to adjustment upon the occurrence of certain events as set forth in such prospectus supplement and/or other offering material. After the close of business on the expiration date, or such later date to which such expiration date may be extended by us, unexercised warrants will become void. The place or places where, and the manner in which, warrants may be exercised shall be specified in the prospectus supplement and/or other offering material relating to such warrants. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Prior to the exercise of any warrants, holders of such warrants will not have any of the rights of holders of the underlying securities, as the case may be, purchasable upon such exercise, including the right to receive payments of dividends, if any, or to exercise any applicable right to vote. </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">21</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDOU">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:476pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">DESCRIPTION OF UNITS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">As specified in the applicable prospectus supplement, we may issue&#160;units consisting of one or more shares of common stock, shares of preferred stock, debt securities and warrants. The applicable prospectus supplement will specify the following terms of the&#160;units: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the terms of the underlying securities comprising the&#160;units, including whether and under what circumstances the underlying securities may be traded separately; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">a description of the terms of any unit agreement governing the&#160;units (if any); </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">if appropriate, a discussion of certain material U.S. federal income tax considerations applicable to such&#160;units; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">a description of the provisions for the payment, settlement, transfer or exchange of the&#160;units. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">22</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tPOD">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PLAN OF DISTRIBUTION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The securities may be sold: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to or through underwriting syndicates represented by managing underwriters; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">through one or more underwriters without a syndicate for them to offer and sell to the public; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.29pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.29pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">through dealers or agents; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">in &#8220;at the market offerings&#8221; to or through a market maker or into an existing trading market, or a securities exchange or otherwise; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">to investors directly in negotiated sales or in competitively bid transactions; or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">as otherwise described in a prospectus supplement, including through a combination of any of these methods of sale. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We will describe the plan of distribution for any particular offering in the applicable prospectus supplement, in accordance with applicable law. The prospectus supplement will set forth the terms of the offering, including the following: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the name or names of any underwriters, dealers or agents; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">the purchase price, the proceeds from that sale and the expected use of such proceeds; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any options under which underwriters may purchase additional securities from us; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any underwriting discounts and other items constituting underwriters&#8217; compensation; </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any initial public offering price and any discounts or concessions allowed or reallowed or paid to underwriters, dealers or agents; and </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.19pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#8226;</font>
          <br >
        </div>
        <div style=" margin-top:6.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">any securities exchanges on which the securities may be listed. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The securities may be distributed from time to time in one or more transactions, at negotiated prices, at a fixed price or fixed prices (that may be subject to change), at market prices prevailing at the time of sale, at various prices determined at the time of sale or at prices related to prevailing market prices. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Underwriters</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">If underwriters are used in the sale, we will execute an underwriting agreement with the underwriters relating to the securities that we will offer. Unless otherwise set forth in the prospectus supplement, the obligations of the underwriters to purchase these securities will be subject to conditions. The underwriters will be obligated to purchase all of the offered securities if any are purchased. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The securities subject to the underwriting agreement will be acquired by the underwriters for their own account and may be resold by them from time to time in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale. Underwriters may be deemed to have received compensation from us in the form of underwriting discounts or commissions and may also receive commissions from the purchasers of these securities for whom they may act as agent. Underwriters may sell these securities to or through dealers. These dealers may receive compensation in the form of discounts, concessions or commissions from the underwriters and/or commissions from the purchasers for whom they may act as agent. Any initial public offering price and any discounts or concessions allowed or reallowed or paid to dealers may be changed from time to time. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We also may sell the securities in connection with a remarketing upon their purchase, in connection with a redemption or repayment, by a remarketing firm acting as principal for its own account or as our agent. Remarketing firms may be deemed to be underwriters in connection with the securities that they remarket. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may authorize underwriters to solicit offers by institutions to purchase the securities subject to the underwriting agreement from us, at the public offering price stated in the prospectus supplement under delayed delivery contracts providing for payment and delivery on a specified date in the future. If we sell </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">23</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:344pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">securities under these delayed delivery contracts, the prospectus supplement will state that as well as the conditions to which these delayed delivery contracts will be subject and the commissions payable for that solicitation. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Any dealers and agents participating in the distribution of securities may be deemed to be underwriters, and compensation received by them on resale of the securities may be deemed to be underwriting discounts. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Agents</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may also sell any of the securities through agents designated by us from time to time. We will name any agent involved in the offer or sale of these securities and will list commissions payable by us to any such agents in the prospectus supplement. These agents will be acting on a best efforts basis to solicit purchases for the period of their appointment, unless we state otherwise in the prospectus supplement. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Direct Sales</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may sell any of the securities directly to purchasers. In this case, we will not engage underwriters or agents in the offer and sale of these securities. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Indemnification</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We may indemnify underwriters, dealers or agents who participate in the distribution of securities against certain liabilities, including liabilities under the Securities Act and agree to contribute to payments which these underwriters, dealers or agents may be required to make. The terms and conditions of any indemnification or contribution will be described in the applicable prospectus supplement. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">24</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tLEMA">&#8203;</a><a name="tEXP">&#8203;</a><a name="tWYCF">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:84pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">LEGAL MATTERS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The validity of the securities covered by this prospectus will be passed upon for us by Foley &amp; Lardner LLP. The validity of the securities covered by this prospectus will be passed upon for any underwriters or agents by counsel named in the applicable prospectus supplement. The opinions of Foley &amp; Lardner LLP and counsel for any underwriters or agents may be conditioned upon and may be subject to assumptions regarding future action required to be taken by us and any underwriters, dealers or agents in connection with the issuance of any securities. The opinions of Foley &amp; Lardner LLP and counsel for any underwriters or agents may be subject to other conditions and assumptions, as indicated in the applicable prospectus supplement. </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">EXPERTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The consolidated financial statements of FuelCell Energy, Inc. as of October&#160;31, 2024 and 2023, and for each of the&#160;years in the three-year period ended October&#160;31, 2024, and management&#8217;s assessment of the effectiveness of internal control over financial reporting as of October&#160;31, 2024 have been incorporated by reference herein and in the registration statement in reliance upon the report of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing. </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">WHERE YOU CAN FIND ADDITIONAL INFORMATION</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We file annual, quarterly and current reports, proxy statements and other information with the SEC. Our SEC filings are available to the public at the SEC&#8217;s website at http://www.sec.gov. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This prospectus is part of a registration statement that we have filed with the SEC relating to the securities to be offered. This prospectus does not contain all of the information we have included in the registration statement and the accompanying exhibits and schedules in accordance with the rules and regulations of the SEC, and we refer you to the omitted information. The statements this prospectus makes pertaining to the content of any contract, agreement or other document that is an exhibit to the registration statement necessarily are summaries of their material provisions and do not describe all provisions, exceptions and qualifications contained in those contracts, agreements or documents. You should read those contracts, agreements or documents for information that may be important to you. The registration statement, exhibits and schedules are available at the SEC&#8217;s website at http://www.sec.gov. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Neither we nor the underwriters (if any) have authorized anyone to provide you with any information other than that contained in or incorporated by reference into this prospectus or any amendment or supplement to this prospectus or in any free writing prospectus prepared by or on behalf of us or to which we have referred you. We and the underwriters (if any) take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. You should not assume that the information in this prospectus or any prospectus supplement is accurate as of any date other than the date on the front of those documents or that any document incorporated by reference is accurate as of any date other than its filing date. You should not consider this prospectus to be an offer or solicitation relating to the securities in any jurisdiction in which such an offer or solicitation relating to the securities is not authorized. Furthermore, you should not consider this prospectus to be an offer or solicitation relating to the securities if the person making the offer or solicitation is not qualified to do so, or if it is unlawful for you to receive such an offer or solicitation.</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">25</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PART II</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">INFORMATION NOT REQUIRED IN PROSPECTUS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Item&#160;14.&nbsp;&nbsp;&nbsp;Other Expenses of Issuance and Distribution.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The following table itemizes the expenses incurred by us in connection with the issuance and registration of the securities being registered hereunder. </font>
        </div>
        <table style="width:416pt;height:130pt;margin-left:20pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:371.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">SEC registration fee </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">30,620</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:371.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">FINRA filing fees </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">30,500 </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:371.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Nasdaq listing fees </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">
              <div style="font-size:7.5pt;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <div style="font-size:7.5pt;">
                <font style=" position:relative; bottom:4.25pt;">(1</font><font style="position:absolute;padding-top:0pt;"><font style=" position:relative; bottom:4.25pt;">)</font>
                </font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:371.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Printing and mailing expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">
              <div style="font-size:7.5pt;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <div style="font-size:7.5pt;">
                <font style=" position:relative; bottom:4.25pt;">(1</font><font style="position:absolute;padding-top:0pt;"><font style=" position:relative; bottom:4.25pt;">)</font>
                </font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:371.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Legal fees and expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">
              <div style="font-size:7.5pt;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <div style="font-size:7.5pt;">
                <font style=" position:relative; bottom:4.25pt;">(1</font><font style="position:absolute;padding-top:0pt;"><font style=" position:relative; bottom:4.25pt;">)</font>
                </font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:371.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Accounting fees and expenses </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">
              <div style="font-size:7.5pt;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <div style="font-size:7.5pt;">
                <font style=" position:relative; bottom:4.25pt;">(1</font><font style="position:absolute;padding-top:0pt;"><font style=" position:relative; bottom:4.25pt;">)</font>
                </font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:371.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Transfer agent fees </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">
              <div style="font-size:7.5pt;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <div style="font-size:7.5pt;">
                <font style=" position:relative; bottom:4.25pt;">(1</font><font style="position:absolute;padding-top:0pt;"><font style=" position:relative; bottom:4.25pt;">)</font>
                </font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:371.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Miscellaneous </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">
              <div style="font-size:7.5pt;">&#8203;</div>
            </td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <div style="font-size:7.5pt;">
                <font style=" position:relative; bottom:4.25pt;">(1</font><font style="position:absolute;padding-top:0pt;"><font style=" position:relative; bottom:4.25pt;">)</font>
                </font>
              </div>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:371.29pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">Total </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24pt; text-align:right; white-space:nowrap;">
              <font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1</font><font style="position:absolute;padding-top:0pt;"><font style=" position:relative; bottom:3.25pt;font-size:7.5pt;">)</font>
              </font>
            </td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.3pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">These fees are calculated based on the type of securities offered, the number of offerings, and the amount of securities offered and accordingly cannot be estimated at this time. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Item&#160;15.&nbsp;&nbsp;&nbsp;Indemnification of Directors and Officers.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Delaware General Corporation Law</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Section&#160;145 of the Delaware General Corporation Law (the &#8220;DGCL&#8221;) provides that a corporation may indemnify any person who was or is, 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 such corporation), by reason of the fact that such person is or was a director, officer, employee or agent of such corporation, or is or was serving at the request of such corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise. The indemnity may include expenses (including attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of such corporation, and, with respect to any criminal actions and proceedings, had no reasonable cause to believe that such person&#8217;s conduct was unlawful. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">In addition, under Section&#160;145 of the DGCL, a Delaware corporation may indemnify any person who was or is, or is threatened to be made, a party to any threatened, pending or contemplated action or suit by or in the right of such corporation to procure a judgment in its favor, by reason of the fact that such person is or was a director, officer, employee or agent of such corporation, or is or was serving at the request of such 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 such person in connection with the defense or settlement of such action or suit if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of such corporation and except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to such corporation unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">To the extent that an officer or director of a corporation has been successful, on the merits or otherwise, in the defense of any action, suit or proceeding referred to above, or in defense of any claim, issue or matter </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-1</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:368pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">therein, the corporation must indemnify such person against expenses (including attorneys&#8217; fees) actually and reasonably incurred by such person in connection therewith. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Certificate of Incorporation, as amended, Third Amended and Restated By-laws, and Insurance</font><font style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company&#8217;s Certificate of Incorporation, as amended, provides that the Company may, to the fullest extent permitted by Section&#160;145 of the DGCL, indemnify any and all persons whom it shall have power to indemnify under said section from and against any and all of the expenses, liabilities or other matters referred to in or covered by said section. The Company&#8217;s Certificate of Incorporation, as amended, further provides that no director will be personally liable to the Company or its stockholders for monetary damages for any breach of fiduciary duty by such director as a director; provided, however, that a director will be liable to the extent provided by applicable law (i)&#160;for breach of such director&#8217;s duty of loyalty to the Company or its stockholders, (ii)&#160;for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii)&#160;pursuant to Section&#160;174 of the DGCL, or (iv)&#160;for any transaction from which the director derived an improper personal benefit. </font>
        </div>
        <div style="text-indent:20pt; margin-top:4pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company&#8217;s Third Amended and Restated By-laws also provide for indemnification of the Company&#8217;s officers and directors to the fullest extent permitted by applicable law. </font>
        </div>
        <div style="margin-left:20pt; margin-top:4pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In addition, the Company maintains directors&#8217; and officers&#8217; liability insurance policies. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Item&#160;16.&nbsp;&nbsp;&nbsp;Exhibits.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The exhibits listed below are filed or incorporated by reference as part of this Registration Statement. </font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-2</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;margin-bottom:5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:32.71pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Exhibit</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Number </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:411.29pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Description of Exhibit </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">1.1* </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:411.29pt;">
              <font style="letter-spacing:0.2pt;">Form of Underwriting Agreement. </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">1.2.1</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000110465922079247/tm2220757d1_ex10-1.htm">Open Market Sale Agreement</a><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000110465922079247/tm2220757d1_ex10-1.htm">SM</a></font> <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000110465922079247/tm2220757d1_ex10-1.htm">among FuelCell Energy, Inc., Jefferies LLC, B. Riley Securities, Inc., Barclays Capital Inc., BMO Capital Markets Corp., BofA Securities, Inc., Canaccord Genuity LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Loop Capital Markets LLC, dated July&#160;12, 2022 (incorporated by reference to Exhibit&#160;10.1 to the Company&#8217;s Current Report on Form 8-K filed on July&#160;12, 2022).</a></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">1.2.2 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000110465924045894/tm2411398d1_ex10-1.htm">Amendment No. 1 to Open Market Sale Agreement</a><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000110465924045894/tm2411398d1_ex10-1.htm">SM</a></font> <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000110465924045894/tm2411398d1_ex10-1.htm">among FuelCell Energy, Inc., Jefferies LLC, B. Riley Securities, Inc., Barclays Capital Inc., BMO Capital Markets Corp., BofA Securities, Inc., Canaccord Genuity LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Loop Capital Markets LLC, dated April&#160;10, 2024 (incorporated by reference to Exhibit&#160;10.1 to the Company&#8217;s Current Report on Form 8-K filed on April&#160;10, 2024).</a></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">1.2.3 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000155837024016497/fcel-20241031xex10d98.htm">Amendment No. 2 to Open Market Sale Agreement</a><font style=" position:relative; bottom:4.25pt;font-size:6.5pt;letter-spacing:0.15pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000155837024016497/fcel-20241031xex10d98.htm">SM</a></font> <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000155837024016497/fcel-20241031xex10d98.htm">among FuelCell Energy, Inc., Jefferies LLC, B. Riley Securities, Inc., Barclays Capital Inc., BMO Capital Markets Corp., BofA Securities, Inc., Canaccord Genuity LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Loop Capital Markets LLC, dated December&#160;27, 2024 (incorporated by reference to Exhibit&#160;10.98 to the Company&#8217;s Annual Report on Form 10-K filed on December&#160;27, 2024).</a></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.1 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000088612899000032/0000886128-99-000032.txt">Certificate of Incorporation of the Company, as amended, July&#160;12, 1999 (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form 8-K dated September&#160;21, 1999).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.2 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex33.htm">Certificate of Amendment of the Certificate of Incorporation of the Company, dated November&#160;21, 2000 (incorporated by reference to Exhibit&#160;3.3 to the Company&#8217;s Annual Report on Form 10-K dated January&#160;12, 2017).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.3 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000100329703000432/ex3-11.htm">Certificate of Amendment of the Certificate of Incorporation of the Company, dated October&#160;31, 2003 (incorporated by reference to Exhibit&#160;3.1.1 to the Company&#8217;s Current Report on Form 8-K dated November&#160;3, 2003).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.4 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000114420404020159/v08931_ex3-1.htm">Certificate of Designation for the Company&#8217;s 5% Series&#160;B Cumulative Convertible Perpetual Preferred Stock (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form 8-K, dated November&#160;22, 2004).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.5 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex34.htm">Amended Certificate of Designation of 5% Series&#160;B Cumulative Convertible Perpetual Preferred Stock, dated March&#160;14, 2005 (incorporated by reference to Exhibit&#160;3.4 to the Company&#8217;s Annual Report on Form 10-K dated January&#160;12, 2017).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.6 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex35.htm">Certificate of Amendment of the Certificate of Incorporation of the Company, dated April&#160;8, 2011 (incorporated by reference to Exhibit&#160;3.5 to the Company&#8217;s Annual Report on Form 10-K dated January&#160;12, 2017).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.7 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000088612817000007/fcel-20161031xex36.htm">Certificate of Amendment of the Certificate of Incorporation of the Company, dated April&#160;5, 2012 (incorporated by reference to Exhibit&#160;3.6 to the Company&#8217;s Annual Report on Form 10-K dated January&#160;12, 2017).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.8 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000088612815000023/exhibit3112-3x15.htm">Certificate of Amendment of the Certificate of Incorporation of the Company, dated December&#160;3, 2015 (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form 8-K dated December&#160;3, 2015).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.9 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000088612816000054/fcel-2016430xex39.htm">Certificate of Amendment of the Certificate of Incorporation of the Company, dated April&#160;18, 2016 (incorporated by reference to Exhibit&#160;3.9 to the Company&#8217;s Quarterly Report on Form 10-Q for the period ended April&#160;30, 2016).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.10 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000156459017012328/fcel-ex310_243.htm">Certificate of Amendment of the Certificate of Incorporation of the Company, dated April&#160;7, 2017 (incorporated by reference to Exhibit&#160;3.10 to the Company&#8217;s Quarterly Report on Form&#160;10-Q for the period ended April&#160;30, 2017).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.11 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000114420417047252/v474606_ex3-1.htm">Certificate of Designations for the Company&#8217;s Series&#160;C Convertible Preferred Stock (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form 8-K, dated September&#160;5, 2017).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-3</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <table style="width:456pt;height:491.5pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:32.71pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.16pt;">Exhibit</font>
                <br >
                <font style="letter-spacing:-0.16pt;">Number </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:411.29pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Description of Exhibit </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.12 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000114420417063979/tv481509_ex3-1.htm">Certificate of Amendment of the Certificate of Incorporation of the Company, dated December&#160;14, 2017 (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form 8-K dated December&#160;14, 2017).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.13 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000114420418047136/tv501807_ex3-1.htm">Certificate of Designations, Preferences and Rights for the Company&#8217;s Series&#160;D Convertible Preferred Stock (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form 8-K dated August&#160;27, 2018).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.14 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000156459019017009/fcel-ex31_9.htm">Certificate of Amendment of the Certificate of Incorporation of FuelCell Energy, Inc., dated May&#160;8, 2019 (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form&#160;8-K filed on May&#160;8, 2019).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.15 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000156459020024506/fcel-ex31_79.htm">Certificate of Amendment of the Certificate of Incorporation of FuelCell Energy, Inc., dated May&#160;11, 2020 (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form&#160;8-K filed on May&#160;12, 2020).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.16 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000156459021018838/fcel-ex31_7.htm">Certificate of Amendment of the Certificate of Incorporation of FuelCell Energy, Inc., dated April&#160;8, 2021 (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form&#160;8-K/A filed on April&#160;14, 2021).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.17 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000155837023016365/fcel-20231010xex3d1.htm">Certificate of Amendment of the Certificate of Incorporation of FuelCell Energy, Inc., dated October&#160;11, 2023 (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form 8-K filed on October&#160;11, 2023).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.18 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000110465924115093/tm2427658d1_ex3-1.htm">Certificate of Amendment of the Certificate of Incorporation of FuelCell Energy, Inc., effective November&#160;8, 2024 (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form 8-K filed on November&#160;7, 2024).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.19 </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/886128/000110465924096939/tm2423319d1_ex3-1.htm">Third Amended and Restated By-Laws of the Company, effective as of September&#160;3, 3024 (incorporated by reference to Exhibit&#160;3.1 to the Company&#8217;s Current Report on Form 8-K filed on September&#160;4, 2024).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.20* </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.29pt;">
              <font style="letter-spacing:0.2pt;">Form of Warrant Agreement and Warrant Certificate. </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.21* </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.29pt;">
              <font style="letter-spacing:0.2pt;">Form of Unit Agreement and Unit Certificate.</font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.22* </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.29pt;">
              <font style="letter-spacing:0.2pt;">Form of Debt Securities. </font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">4.23** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:411.29pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="tm2513286d2_ex4-23.htm">Indenture, dated April&#160;29, 2025, between the Company and Wilmington Trust, National Association.</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <font style="margin-left:5pt;letter-spacing:0.2pt;">5.1** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.29pt;">
              <a style="-sec-extract:exhibit" href="tm2513286d2_ex5-1.htm">Opinion of Foley &amp; Lardner LLP (including consent of such firm).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <font style="letter-spacing:0.2pt;">23.1** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.29pt;">
              <a style="-sec-extract:exhibit" href="tm2513286d2_ex5-1.htm">Consent of Foley &amp; Lardner LLP (included in Exhibit&#160;5.1).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <font style="letter-spacing:0.2pt;">23.2** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.29pt;">
              <a style="-sec-extract:exhibit" href="tm2513286d2_ex23-2.htm">Consent of KPMG LLP, independent registered public accounting firm.</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <font style="letter-spacing:0.2pt;">24.1** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.29pt;">
              <a href="#SIG">Powers of Attorney (included on the signature page).</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <font style="letter-spacing:0.2pt;">25.1** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.29pt;">
              <a style="-sec-extract:exhibit" href="tm2513286d2_ex25-1.htm">Form T-1 Statement of Eligibility and Qualification under the Trust Indenture Act of 1939.</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;letter-spacing:0.2pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:32.71pt;">
              <font style="letter-spacing:0.2pt;">107** </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:411.29pt;">
              <a style="-sec-extract:exhibit" href="tm2513286d2_ex-filingfees.htm">Filing Fee Table.</a>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.3pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:7.5pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">*</font>
          <br >
        </div>
        <div style=" margin-top:7.5pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">To be filed, if necessary, by amendment or incorporated by reference in connection with the offering. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:3.51pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">**</font>
          <br >
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        <div style=" margin-top:3.51pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">Filed herewith. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Item&#160;17.&nbsp;&nbsp;&nbsp;Undertakings.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(a)&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes: </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(1)&nbsp;&nbsp;&nbsp;To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: </font>
        </div>
        <div style="margin-left:60pt; margin-top:8pt; width:396pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;To include any prospectus required by Section&#160;10(a)(3) of the Securities Act; </font>
        </div>
        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; width:416pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;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 </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-4</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:40pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">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 Securities and Exchange Commission (the &#8220;Commission&#8221;) pursuant to Rule&#160;424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Filing Fee Tables&#8221; in the effective registration statement; and </font>
        </div>
        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(iii)&nbsp;&nbsp;&nbsp;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; </font>
        </div>
        <div style="margin-left:40pt; margin-top:8pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">provided, however, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(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&#160;13 or Section&#160;15(d) of the Exchange Act that are incorporated by reference in the registration statement or is contained in a form of prospectus filed pursuant to Rule&#160;424(b) that is part of the registration statement. </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(2)&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act, each such post- effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(3)&nbsp;&nbsp;&nbsp;To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. </font>
        </div>
        <div style="margin-left:40pt; margin-top:8pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(4)&nbsp;&nbsp;&nbsp;That, for the purpose of determining liability under the Securities Act to any purchaser: </font>
        </div>
        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;Each prospectus filed by the registrant pursuant to Rule&#160;424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and </font>
        </div>
        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;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)&#160;or (x), for the purpose of providing the information required by Section&#160;10(a) of the Securities Act 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 the prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date. </font>
        </div>
        <div style="margin-left:20pt; text-indent:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(5)&nbsp;&nbsp;&nbsp;That, for the purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution of the securities, in a primary offering of securities of the 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: </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-5</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-bottom:220pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:40pt; text-indent:20pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(i)&nbsp;&nbsp;&nbsp;Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule&#160;424; </font>
        </div>
        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(ii)&nbsp;&nbsp;&nbsp;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; </font>
        </div>
        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(iii)&nbsp;&nbsp;&nbsp;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 </font>
        </div>
        <div style="margin-left:40pt; text-indent:20pt; margin-top:8pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(iv)&nbsp;&nbsp;&nbsp;Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(b)&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant&#8217;s annual report pursuant to Section&#160;13(a) or Section&#160;15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section&#160;15(d) of the Exchange Act) 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. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(c)&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act 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 Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(d)&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee to act under subsection (a)&#160;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.</font>
        </div>
      </div>
      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">II-6</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">
        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="SIG">&#8203;</a>
      </div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">SIGNATURES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all the requirements for filing on Form 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 Danbury, State of Connecticut, on the 29th day of April, 2025. </font>
        </div>
        <div style="margin-left:240pt; margin-top:12pt; width:216pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">FUELCELL ENERGY, INC.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">By:</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:260pt;">
          <!--blacklining:none;-->
          <font style="letter-spacing:0.2pt;">/s/ Michael S. Bishop </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="white-space:nowrap; margin-left:260pt; margin-top:3pt; width:196pt;">
          <div style="margin-left: 0pt; width: 196pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style="margin-left:260pt; margin-top:2.5pt; width:196pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Michael S. Bishop</font>
          <br >
          <font style="letter-spacing:0.2pt;">Executive Vice President, Chief Financial Officer and Treasurer </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">SPECIAL POWER OF ATTORNEY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears on the signature page to this registration statement constitutes and appoints Michael S. Bishop and Jason Few, and each or any of them, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, including any amendment or registration statement filed pursuant to Rule&#160;462, and to file the same, with all exhibits hereto, and other documents in connection therewith, with the Securities and Exchange Commission, and grants unto said attorneys-in-fact and agents, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or his or her substitute or substitutes may lawfully do or cause to be done by virtue hereof. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated. </font>
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        <table style="width:456pt;height:286.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:144pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Signature </font>
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            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:144pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Title </font>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:144pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:-0.16pt;">Date </font>
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            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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            <td style="padding:13.917pt 0pt 0.5pt 0pt; width:144pt;">
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                <font style="letter-spacing:0.2pt;">/s/ Jason Few</font>
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          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:14.167pt 0pt 0.5pt 0pt; width:144pt;text-align:center;">
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:14.167pt 0pt 0.5pt 0pt; width:144pt;text-align:center;">
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
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              <font style="letter-spacing:0.2pt;">Director </font>
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            <td style="padding:14.167pt 0pt 0.5pt 0pt; width:144pt;text-align:center;">
              <div style="text-align:center;">
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        <a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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      <div style="margin-top:6pt;height:660pt;margin-left:69.66pt;width:456pt;">
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
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            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:144pt;">
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          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:13.917pt 0pt 0.5pt 0pt; width:144pt;white-space:normal;">
              <div>
                <font style="letter-spacing:0.2pt;">/s/ Donna Sims Wilson</font>
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              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 144pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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              <div style="margin-top:2pt;">
                <font style="letter-spacing:0.2pt;">Donna Sims Wilson </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:13.917pt 0pt 0.5pt 0pt; width:144pt;">
              <font style="letter-spacing:0.2pt;">Director </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:13.917pt 0pt 0.5pt 0pt; width:144pt;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;29, 2025 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:14.167pt 0pt 0.5pt 0pt; width:144pt;white-space:normal;">
              <div>
                <font style="letter-spacing:0.2pt;">/s/ Betsy Bingham</font>
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              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 144pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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              <div style="margin-top:2pt;">
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:14.167pt 0pt 0.5pt 0pt; width:144pt;">
              <font style="letter-spacing:0.2pt;">Director </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:14.167pt 0pt 0.5pt 0pt; width:144pt;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;29, 2025 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:14.167pt 0pt 0.5pt 0pt; width:144pt;white-space:normal;">
              <div>
                <font style="letter-spacing:0.2pt;">/s/ Tyrone Michael Jordan</font>
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                <div style="margin-left: 0pt; width: 144pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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              <div style="margin-top:2pt;">
                <font style="letter-spacing:0.2pt;">Tyrone Michael Jordan </font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:14.167pt 0pt 0.5pt 0pt; width:144pt;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:14.167pt 0pt 0.5pt 0pt; width:144pt;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;29, 2025</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.23
<SEQUENCE>2
<FILENAME>tm2513286d2_ex4-23.htm
<DESCRIPTION>EXHIBIT 4.23
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="margin: 0; text-align: right"><B>Exhibit&#8239;4.23</B></P>

<P STYLE="border-bottom: Black 1pt solid; margin: 0">&nbsp;</P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dated as of April&nbsp;29, 2025</P>

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

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

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

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

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

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

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; width: 87%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: center; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;I
    DEFINITIONS AND INCORPORATION BY REFERENCE</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;1.1
    Definitions</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;1.2
    Other Definitions</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;1.3
    Incorporation by Reference of Trust Indenture Act</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;1.4
    Rules&nbsp;of Construction</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;II
    THE SECURITIES</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.1
    Issuable in Series</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.2
    Establishment of Terms of Series&nbsp;of Securities</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.3
    Execution and Authentication</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.4
    Registrar and Paying Agent</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.5
    Paying Agent to Hold Money in Trust</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.6
    Securityholder Lists</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.7
    Transfer and Exchange</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.8
    Mutilated, Destroyed, Lost and Stolen Securities</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.9
    Outstanding Securities</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.10
    Treasury Securities</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.11
    Temporary Securities</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.12
    Cancellation</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.13
    Defaulted Interest</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.14
    Global Securities</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;2.15
    CUSIP Numbers</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;III
    REDEMPTION</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;3.1
    Notice to Trustee</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;3.2
    Selection of Securities to be Redeemed</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;3.3
    Notice of Redemption</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font-size: 10pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
</TABLE>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-bottom: 8pt; width: 8%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; width: 87%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;3.4 Effect of Notice of Redemption</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;3.5 Deposit of Redemption Price</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;3.6 Securities Redeemed in Part</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;IV COVENANTS</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;4.1 Payment of Principal and Interest</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;4.2 SEC Reports</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;4.3 Compliance Certificate</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;4.4 Stay, Extension and Usury Laws</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;V SUCCESSORS</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;5.1 When Company May&nbsp;Merge, Etc</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;5.2 Successor Corporation Substituted</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;VI DEFAULTS AND REMEDIES</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.1 Events of Default</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.2 Acceleration of Maturity; Rescission and Annulment</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.3 Collection of Indebtedness and Suits for Enforcement by Trustee</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.4 Trustee May&nbsp;File Proofs of Claim</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.5 Trustee May&nbsp;Enforce Claims Without Possession of Securities</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.6 Application of Money Collected</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.7 Limitation on Suits</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.8 Unconditional Right of Holders to Receive Principal and Interest</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.9 Restoration of Rights and Remedies</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.10 Rights and Remedies Cumulative</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.11 Delay or Omission Not Waiver</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.12 Control by Holders</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.13 Waiver of Past Defaults</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;6.14 Undertaking for Costs</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;VII TRUSTEE</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt; width: 8%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; width: 87%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;7.1 Duties of Trustee</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;7.2 Rights of Trustee</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;7.3 Individual Rights of Trustee</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;7.4 Trustee&rsquo;s Disclaimer</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;7.5 Notice of Defaults</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</FONT></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;7.6 Reports by Trustee to Holders</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;7.7 Compensation and Indemnity</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;7.8 Replacement of Trustee</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;7.9 Successor Trustee by Merger, Etc</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;7.10 Eligibility; Disqualification</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;7.11 Preferential Collection of Claims Against Company</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;VIII SATISFACTION AND DISCHARGE; DEFEASANCE</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;8.1 Satisfaction and Discharge of Indenture</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;8.2 Application of Trust Funds; Indemnification</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;8.3 Legal Defeasance of Securities of any Series</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">35</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;8.4 Covenant Defeasance</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;8.5 Repayment to Company</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;8.6 Reinstatement</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;IX AMENDMENTS AND WAIVERS</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;9.1 Without Consent of Holders</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;9.2 With Consent of Holders</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;9.3 Limitations</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;9.4 Compliance with Trust Indenture Act</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;9.5 Revocation and Effect of Consents</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</FONT></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;9.6 Notation on or Exchange of Securities</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;9.7 Trustee Protected</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</FONT></TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;X MISCELLANEOUS</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt; width: 8%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; width: 87%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.1 Trust Indenture Act Controls</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.2 Notices</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.3 Communication by Holders with Other Holders</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.4 Certificate and Opinion as to Conditions Precedent</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.5 Statements Required in Certificate or Opinion</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.6 Rules&nbsp;by Trustee and Agents</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.7 Legal Holidays</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.8 No Recourse Against Others</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.9 Counterparts</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.10 Governing Law; Waiver of Jury Trial; Consent to Jurisdiction</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.11 No Adverse Interpretation of Other Agreements</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">44</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.12 Successors</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">44</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.13 Severability</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">44</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.14 Table of Contents, Headings, Etc</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">44</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.15 Securities in a Foreign Currency</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">44</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.16 Judgment Currency</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;10.17 Force Majeure</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE&nbsp;XI SINKING FUNDS</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">46</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;11.1 Applicability of Article</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">46</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;11.2 Satisfaction of Sinking Fund Payments with Securities</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">46</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;11.3 Redemption of Securities for Sinking Fund</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">47</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Reconciliation and tie between Trust Indenture
Act of 1939 and Indenture, dated as of April&nbsp;29, 2025</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding: 1pt; width: 34%">&nbsp;</TD>
    <TD STYLE="padding: 1pt; width: 32%">&nbsp;</TD>
    <TD STYLE="padding: 1pt; width: 34%">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">&sect; 310(a)(1)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.10</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(a)(2)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.10</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(a)(3)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">Not Applicable</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(a)(4)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">Not Applicable</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(a)(5)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.10</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(b)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.10</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">&sect; 311(a)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.11</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(b)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.11</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(c)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">Not Applicable</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">&sect; 312(a)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">2.6</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(b)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">10.3</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(c)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">10.3</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">&sect; 313(a)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.6</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(b)(1)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.6</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(b)(2)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.6</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(c)(1)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.6</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(d)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.6</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">&sect; 314(a)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">4.2, 10.5</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(b)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">Not Applicable</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(c)(1)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">10.4</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(c)(2)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">10.4</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(c)(3)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">Not Applicable</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(d)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">Not Applicable</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(e)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">10.5</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(f)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">Not Applicable</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">&sect; 315(a)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.1</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(b)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.5</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(c)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.1</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(d)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">7.1</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(e)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">6.14</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">&sect; 316(a)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">2.10</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(a)(1)(A)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">6.12</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(a)(1)(B)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">6.13</TD></TR>
</TABLE>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right; width: 34%">(b)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt; width: 32%">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt; width: 34%">6.8</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">&sect; 317(a)(1)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">6.3</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(a)(2)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">6.4</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">(b)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">2.5</TD></TR>
  <TR>
    <TD STYLE="padding: 1.75pt 4pt 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: right">&sect; 318(a)</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.75pt 1.25pt 1.75pt 4pt; vertical-align: top; font-size: 10pt">10.1</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note: This reconciliation and tie shall not, for any purpose, be deemed
to be part of the Indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">Indenture dated as of April&nbsp;29,
2025 between FuelCell Energy,&nbsp;Inc., a company incorporated under the laws of Delaware (the &ldquo;<I>Company</I>&rdquo;), and Wilmington
Trust, National Association, a national banking association organized under the laws of the United States, as trustee (the &ldquo;<I>Trustee</I>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Each party agrees as follows for the benefit of
the other party and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;1.1 <U>Definitions</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Additional Amounts</I>&rdquo; means
any additional amounts which are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the
Company in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such Holders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Affiliate</I>&rdquo; of any specified
person means any other person directly or indirectly controlling or controlled by or under common control with such specified person.
For the purposes of this definition, &ldquo;control&rdquo; (including, with correlative meanings, the terms &ldquo;controlled by&rdquo;
and &ldquo;under common control with&rdquo;), as used with respect to any person, shall mean 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
or by agreement or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Agent</I>&rdquo; means any Registrar,
Paying Agent or Notice Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Board of Directors</I>&rdquo; means
the board of directors of the Company or any duly authorized committee thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Board Resolution</I>&rdquo; 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Business Day</I>&rdquo; means, any day
except a Saturday, Sunday or a Legal Holiday in The City of New York, New York (or in connection with any payment, the place of payment)
on which banking institutions are authorized or required by law, regulation or executive order to close.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Capital Stock</I>&rdquo; means any and
all shares, interests, participations, rights or other equivalents (however designated) of corporate stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Company</I>&rdquo; means the party named
as such above until a successor replaces it and thereafter means the successor.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Company Order</I>&rdquo; means a written
order signed in the name of the Company by an Officer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Corporate Trust Office</I>&rdquo; means
the principal office of the Trustee at which at any time this Indenture shall be administered, which office as of the date hereof is located
at the address specified in Section&nbsp;10.2. With respect to presentation for transfer or exchange, conversions or principal payment,
such address shall be at the address specified in Section&nbsp;10.2, or such other address as the Trustee may designate from time to time
by written 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 written notice to the Holders and the Company).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Default</I>&rdquo; means any event which
is, or after notice or passage of time or both would be, an Event of Default.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Depositary</I>&rdquo; means, with respect
to the Securities of any Series&nbsp;issuable or issued in whole or in part in the form of one or more Global Securities, the person designated
as Depositary for such Series&nbsp;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, &ldquo;Depositary&rdquo; as used with respect to the Securities of any Series&nbsp;shall
mean the Depositary with respect to the Securities of such Series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Discount Security</I>&rdquo; means any
Security 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&nbsp;6.2.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Dollars</I>&rdquo; and &ldquo;<I>$</I>&rdquo;
means the currency of The United States of America.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Exchange Act</I>&rdquo; means the Securities
Exchange Act of 1934, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Foreign Currency</I>&rdquo; means any
currency or currency unit issued by a government other than the government of The United States of America.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Foreign Government Obligations</I>&rdquo;
means, with respect to Securities of any Series&nbsp;that are denominated in a Foreign Currency, direct obligations of, or obligations
guaranteed by, the government that issued or caused to be issued such currency for the payment of which obligations its full faith and
credit is pledged and which are not callable or redeemable at the option of the issuer thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in"><I>&ldquo;GAAP&rdquo;</I> means accounting principles
generally accepted in the United States of America 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 as of the date of determination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Global Security</I>&rdquo; or &ldquo;<I>Global
Securities</I>&rdquo; means a Security or Securities, as the case may be, in the form established pursuant to Section&nbsp;2.2 evidencing
all or part of a Series&nbsp;of Securities, issued to the Depositary for such Series&nbsp;or its nominee, and registered in the name of
such Depositary or nominee.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Holder</I>&rdquo; or &ldquo;<I>Securityholder</I>&rdquo;
means a person in whose name a Security is registered on the books of the Registrar.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Indenture</I>&rdquo; means this Indenture
as amended or supplemented from time to time and shall include the form and terms of particular Series&nbsp;of Securities established
as contemplated hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>interest</I>&rdquo; with respect to
any Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Maturity</I>,&rdquo; when used with
respect to any Security, means the date on which the principal of such Security becomes due and payable as therein or herein provided,
whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Officer</I>&rdquo; means the Chief Executive
Officer, President, the Chief Financial Officer, the Treasurer or any Assistant Treasurer, the Secretary or any Assistant Secretary, and
any Vice President of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Officer&rsquo;s Certificate</I>&rdquo;
means a certificate signed by any Officer that meets the requirements of Section&nbsp;10.5.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Opinion of Counsel</I>&rdquo; means
a written opinion of legal counsel who is acceptable to the Trustee. The opinion may contain customary limitations, qualifications, conditions
and exceptions. The counsel may be an employee of or counsel to the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>person</I>&rdquo; means any individual,
corporation, partnership, joint venture, association, limited liability company, joint-stock company, trust, unincorporated organization
or government or any agency or political subdivision thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>principal</I>&rdquo; of a Security means
the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in respect of, the Security.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Responsible Officer</I>&rdquo; means
any officer of the Trustee in its Corporate Trust Office having direct responsibility for the administration of this Indenture and also
means, with respect to a particular corporate trust matter, any other officer to whom any corporate trust matter is referred because of
his or her knowledge of and familiarity with a particular subject and who shall have direct responsibility for the administration of this
Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>SEC</I>&rdquo; means the Securities
and Exchange Commission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Securities</I>&rdquo; means the debentures,
notes or other debt instruments of the Company of any Series&nbsp;authenticated and delivered under this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Series</I>&rdquo; or &ldquo;<I>Series&nbsp;of
Securities</I>&rdquo; means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.1
and 2.2 hereof.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Stated Maturity</I>&rdquo; when used
with respect to any Security, means the date specified in such Security as the fixed date on which the principal of such Security or interest
is due and payable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Subsidiary</I>&rdquo; of any specified
person means 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) to vote in the election of directors, managers or trustees thereof
is at the time owned or controlled, directly or indirectly, by such person or one or more of the other Subsidiaries of that person or
a combination thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>TIA</I>&rdquo; means the Trust Indenture
Act of 1939 (15 U.S. Code &sect;&sect; 77aaa-77bbbb) as in effect on the date of this Indenture; <U>provided</U>, <U>however</U>, that
in the event the Trust Indenture Act of 1939 is amended after such date, &ldquo;TIA&rdquo; means, to the extent required by any such amendment,
the Trust Indenture Act as so amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Trustee</I>&rdquo; means the person
named as the &ldquo;Trustee&rdquo; in the first paragraph of this instrument in its capacity as such until a successor Trustee shall have
become such pursuant to the applicable provisions of this Indenture, and thereafter &ldquo;Trustee&rdquo; shall mean or include each person
who is then a Trustee hereunder, and if at any time there is more than one such person, &ldquo;Trustee&rdquo; as used with respect to
the Securities of any Series&nbsp;shall mean the Trustee with respect to Securities of that Series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>U.S. Government Obligations</I>&rdquo;
means securities which are direct obligations of, or guaranteed by, The United States of America for the payment of which its full faith
and credit is pledged and which are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary
receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest
on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt, <I>provided</I>
that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such
depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by such depositary
receipt.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;1.2 <U>Other Definitions</U></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 92%; border-collapse: collapse; margin-left: 0.7in">
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: bottom; font-size: 10pt; text-align: center; width: 60%">TERM</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt; width: 2%">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: bottom; font-size: 10pt; text-align: center; width: 38%">DEFINED IN SECTION</TD></TR>
<TR>
<TD STYLE="border-top: black 1pt solid; padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>Bankruptcy Law</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="border-top: black 1pt solid; padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">6.1</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>Custodian</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">6.1</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>Event of Default</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">6.1</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>Judgment Currency</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">10.16</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>Legal Holiday</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">10.7</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>mandatory sinking fund payment</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">11.1</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>New York Banking Day</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">10.16</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>Notice Agent</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">2.4</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>optional sinking fund payment</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">11.1</TD></TR>
</TABLE>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 92%; border-collapse: collapse; margin-left: 0.7in">
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; width: 60%">&ldquo;<I>Paying Agent</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt; width: 2%">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center; width: 38%">2.4</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>Registrar</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">2.4</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>Required Currency</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">10.16</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>Specified Courts</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">10.10</TD></TR>
<TR>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top">&ldquo;<I>successor person</I>&rdquo;</TD>
<TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
<TD STYLE="padding: 1.75pt 1.25pt; vertical-align: top; font-size: 10pt; text-align: center">5.1</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;1.3 <U>Incorporation by Reference
of Trust Indenture Act</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Whenever this Indenture refers to a provision
of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture
have the following meanings:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<I>Commission</I>&rdquo; means the SEC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<I>default&rdquo;</I> means Event of Default.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<I>indenture securities</I>&rdquo; means
the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<I>indenture security holder</I>&rdquo;
means a Securityholder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<I>indenture to be qualified&rdquo;</I>
means this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<I>indenture trustee</I>&rdquo; or &ldquo;<I>institutional
trustee</I>&rdquo; means the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<I>obligor</I>&rdquo; on the indenture securities
means the Company and any successor obligor upon the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;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&nbsp;under the TIA and not otherwise defined herein
are used herein as so defined.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;1.4 <U>Rules&nbsp;of Construction</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Unless the context otherwise requires:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;a term has the meaning assigned to it;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;an accounting term not otherwise defined
has the meaning assigned to it in accordance with GAAP;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&ldquo;<I>or</I>&rdquo; is not exclusive;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;words in the singular include the plural,
and in the plural include the singular; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;provisions apply to successive events and
transactions.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.1 <U>Issuable in Series</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The aggregate principal amount of Securities that
may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities
of a Series&nbsp;shall be identical except as may be set forth or determined in the manner provided in a Board Resolution, a supplemental
indenture or an Officer&rsquo;s Certificate detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution.
In the case of Securities of a Series&nbsp;to be issued from time to time, the Board Resolution, Officer&rsquo;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.
Securities may differ between Series&nbsp;in respect of any matters, provided that all Series&nbsp;of Securities shall be equally and
ratably entitled to the benefits of the Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.2 <U>Establishment of Terms of Series&nbsp;of
Securities</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">At or prior to the issuance of any Securities
within a Series, the following shall be established (as to the Series&nbsp;generally, in the case of Subsection 2.2.1 and either as to
such Securities within the Series&nbsp;or as to the Series&nbsp;generally in the case of Subsections 2.2.2 through 2.2.23) by or pursuant
to a Board Resolution, and set forth or determined in the manner provided in a Board Resolution, supplemental indenture hereto or Officer&rsquo;s
Certificate:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.1. the title (which shall distinguish the
Securities of that particular Series&nbsp;from the Securities of any other Series) and ranking (including the terms of any subordination
provisions) of the Series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.2. the price or prices (expressed as a percentage
of the principal amount thereof) at which the Securities of the Series&nbsp;will be issued;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.3. any limit upon the aggregate principal
amount of the Securities of the Series&nbsp;which may be authenticated and delivered under this Indenture (except for Securities authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the Series&nbsp;pursuant to Section&nbsp;2.7,
2.8, 2.11, 3.6 or 9.6);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.4. the date or dates on which the principal
of the Securities of the Series&nbsp;is payable;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.5. 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 Securities of the Series&nbsp;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;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.6. the place or places where the principal
of and interest, if any, on the Securities of the Series&nbsp;shall be payable, where the Securities of such Series&nbsp;may be surrendered
for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of such Series&nbsp;and
this Indenture may be delivered, and the method of such payment, if by wire transfer, mail or other means;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.7. if applicable, the period or periods within
which, the price or prices at which and the terms and conditions upon which the Securities of the Series&nbsp;may be redeemed, in whole
or in part, at the option of the Company;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.8. the obligation, if any, of the Company
to redeem or purchase the Securities of the Series&nbsp;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 Securities of the
Series&nbsp;shall be redeemed or purchased, in whole or in part, pursuant to such obligation;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.9. the dates, if any, on which and the price
or prices at which the Securities of the Series&nbsp;will be repurchased by the Company at the option of the Holders thereof and other
detailed terms and provisions of such repurchase obligations;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.10. if other than denominations of $1,000
and any integral multiple thereof, the denominations in which the Securities of the Series&nbsp;shall be issuable;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.11. the forms of the Securities of the Series&nbsp;and
whether the Securities will be issuable as Global Securities;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.12. if other than the principal amount thereof,
the portion of the principal amount of the Securities of the Series&nbsp;that shall be payable upon declaration of acceleration of the
maturity thereof pursuant to Section&nbsp;6.2;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.13. the currency of denomination of the Securities
of the Series, which may be Dollars or any Foreign Currency, and if such currency of denomination is a composite currency, the agency
or organization, if any, responsible for overseeing such composite currency;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.14. the designation of the currency, currencies
or currency units in which payment of the principal of and interest, if any, on the Securities of the Series&nbsp;will be made;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.15. if payments of principal of or interest,
if any, on the Securities of the Series&nbsp;are to be made in one or more currencies or currency units other than that or those in which
such Securities are denominated, the manner in which the exchange rate with respect to such payments will be determined;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.16. the manner in which the amounts of payment
of principal of or interest, if any, on the Securities of the Series&nbsp;will be determined, if such amounts may be determined by reference
to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.17. the provisions, if any, relating to any
security provided for the Securities of the Series;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.18. any addition to, deletion of or change
in the Events of Default which applies to any Securities of the Series&nbsp;and any change in the right of the Trustee or the requisite
Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section&nbsp;6.2;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.19. any addition to, deletion of or change
in the covenants set forth in Articles IV or V which applies to Securities of the Series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.20. any Depositaries, interest rate calculation
agents, exchange rate calculation agents, conversion agents or other agents with respect to Securities of such Series&nbsp;if other than
those appointed herein;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.21. the provisions, if any, relating to conversion
or exchange of any Securities of such Series, including if applicable, the conversion or exchange price, the conversion or exchange period,
provisions as to whether conversion or exchange will be mandatory, at the option of the Holders thereof or at the option of the Company,
the events requiring an adjustment of the conversion price or exchange price and provisions affecting conversion or exchange if such Series&nbsp;of
Securities are redeemed;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.22. any other terms of the Series&nbsp;(which
may supplement, modify or delete any provision of this Indenture insofar as it applies to such Series), including any terms that may be
required under applicable law or regulations or advisable in connection with the marketing of Securities of that Series; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.2.23. whether any of the Company&rsquo;s direct
or indirect Subsidiaries will guarantee the Securities of that Series, including the terms of subordination, if any, of such guarantees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">All Securities of any one Series&nbsp;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&rsquo;s Certificate referred to above. No Board Resolution, supplemental
indenture hereto or Officer&rsquo;s Certificate may affect the Trustee&rsquo;s own rights, duties, indemnities or immunities under this
Indenture or otherwise with respect to any Series&nbsp;of Securities except as the Trustee may agree in writing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.3 <U>Execution and Authentication</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">An Officer shall sign the Securities for the Company
by manual, electronic (including .pdf or DocuSign or other electronic signature platform) or facsimile signature.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If an Officer whose signature is on a Security
no longer holds that office at the time the Security is authenticated, the Security shall nevertheless be valid.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">A Security shall not be valid until authenticated
by the manual signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security has been
authenticated under this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Trustee shall at any time, and from time to
time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto
or Officer&rsquo;s Certificate, upon receipt by the Trustee of a Company Order. Each Security shall be dated the date of its authentication.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The aggregate principal amount of Securities of
any Series&nbsp;outstanding at any time may not exceed any limit upon the maximum principal amount for such Series&nbsp;set forth in the
Board Resolution, supplemental indenture hereto or Officer&rsquo;s Certificate delivered pursuant to Section&nbsp;2.2, except as provided
in Section&nbsp;2.8.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Prior to the issuance of Securities of any Series,
the Trustee shall have received and (subject to Section&nbsp;7.2) shall be fully protected in relying on: (a)&nbsp;the Board Resolution,
supplemental indenture hereto or Officer&rsquo;s Certificate establishing the form of the Securities of that Series&nbsp;or of Securities
within that Series&nbsp;and the terms of the Securities of that Series&nbsp;or of Securities within that Series, (b)&nbsp;an Officer&rsquo;s
Certificate complying with Section&nbsp;10.4, (c)&nbsp;an Opinion of Counsel complying with Section&nbsp;10.4 and (d)&nbsp;an Opinion
of Counsel (which may be the same Opinion of Counsel referred to in the preceding clause (c)) that such Securities, when they have been
duly executed, issued, and authenticated in accordance with the terms of the Indenture and delivered against payment therefor in the circumstances
described in such Opinion of Counsel, will be legally valid and binding obligations of the Company, enforceable against the Company in
accordance with their terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Trustee shall have the right to decline to
authenticate and deliver any Securities of such Series: (a)&nbsp;if the Trustee, being advised by counsel, determines that such action
may not be taken lawfully; (b)&nbsp;if the Trustee in good faith shall determine that such action would expose the Trustee to personal
liability to Holders of any then-outstanding Series&nbsp;of Securities; or (c)&nbsp;if the Trustee in good faith shall determine that
the terms of any such Securities as set forth in a Board Resolution, supplemental indenture or Officer&rsquo;s Certificate would adversely
affect it.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Trustee may appoint an authenticating agent
acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities 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 the Company or an Affiliate of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.4 <U>Registrar and Paying Agent</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company shall maintain, with respect to each
Series&nbsp;of Securities, at the place or places specified with respect to such Series&nbsp;pursuant to Section&nbsp;2.2, an office or
agency where Securities of such Series&nbsp;may be presented or surrendered for payment (&ldquo;<I>Paying Agent</I>&rdquo;), where Securities
of such Series&nbsp;may be surrendered for registration of transfer or exchange (&ldquo;<I>Registrar</I>&rdquo;) and where notices and
demands to or upon the Company in respect of the Securities of such Series&nbsp;and this Indenture may be delivered (&ldquo;<I>Notice
Agent</I>&rdquo;). The Registrar shall keep a register with respect to each Series&nbsp;of Securities and to their transfer and exchange.
The Company will give prompt written notice to the Trustee of the name and address, and any change in the name or address, of each Registrar,
Paying Agent or Notice Agent. If at any time the Company shall fail to maintain any such required Registrar, Paying Agent or Notice Agent
or shall fail to furnish the Trustee with the name and address thereof, such presentations, surrenders, notices and demands may be made
or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations,
surrenders, notices and demands; <U>provided</U>, <U>however</U>, that any appointment of the Trustee as the Notice Agent shall exclude
the appointment of the Trustee or any office of the Trustee as an agent to receive the service of legal process on the Company.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company may also from time to time designate
one or more co-registrars, additional paying agents or additional notice agents and may from time to time rescind such designations; <U>provided</U>,
<U>however</U>, that no such designation or rescission shall in any manner relieve the Company of its obligations to maintain a Registrar,
Paying Agent and Notice Agent in each place so specified pursuant to Section&nbsp;2.2 for Securities of any Series&nbsp;for such purposes.
The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name or address
of any such co-registrar, additional paying agent or additional notice agent. The term &ldquo;<I>Registrar</I>&rdquo; includes any co-registrar;
the term &ldquo;<I>Paying Agent</I>&rdquo; includes any additional paying agent; and the term &ldquo;<I>Notice Agent</I>&rdquo; includes
any additional notice agent. The Company or any of its Affiliates may serve as Registrar or Paying Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company hereby appoints the Trustee the initial
Registrar, Paying Agent and Notice Agent for each Series&nbsp;unless another Registrar, Paying Agent or Notice Agent, as the case may
be, is appointed prior to the time Securities of that Series&nbsp;are first issued.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.5 <U>Paying Agent to Hold Money
in Trust</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">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 Securityholders of any Series&nbsp;of
Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series&nbsp;of Securities,
and will notify the Trustee in writing of any default by the Company in making any such payment. While any such default continues, the
Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay
all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of
the Company) shall have no further liability for the money. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall
segregate and hold in a separate trust fund for the benefit of Securityholders of any Series&nbsp;of Securities all money held by it as
Paying Agent. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying
Agent for the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.6 <U>Securityholder Lists</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">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 Securityholders of each Series&nbsp;of
Securities and shall otherwise comply with TIA &sect; 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee
at least ten 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 Securityholders of each Series&nbsp;of Securities.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.7 <U>Transfer and Exchange</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Where Securities of a Series&nbsp;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 Securities
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 Securities at the Registrar&rsquo;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, 3.6 or 9.6).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Neither the Company nor the Registrar shall be
required (a)&nbsp;to issue, register the transfer of, or exchange Securities of any Series&nbsp;for the period beginning at the opening
of business fifteen days immediately preceding the sending of a notice of redemption of Securities of that Series&nbsp;selected for redemption
and ending at the close of business on the day such notice is sent, or (b)&nbsp;to register the transfer of or exchange Securities of
any Series&nbsp;selected, called or being called for redemption as a whole or the portion being redeemed of any such Securities selected,
called or being called for redemption in part.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.8 <U>Mutilated, Destroyed, Lost
and Stolen Securities</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If any mutilated Security is surrendered to the
Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same Series&nbsp;and
of like tenor and principal amount and bearing a number not contemporaneously outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If there shall be delivered to the Company and
the Trustee (i)&nbsp;evidence to their satisfaction of the destruction, loss or theft of any Security and (ii)&nbsp;such security or indemnity
bond as may be required by each of them to hold itself and any of its agents harmless, then, in the absence of notice to the Company or
the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon receipt of a Company Order
the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security
of the same Series&nbsp;and of like tenor and principal amount and bearing a number not contemporaneously outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">In case any such mutilated, destroyed, lost or
stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security,
pay such Security.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Upon the issuance of any new Security under this
Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Every new Security of any Series&nbsp;issued pursuant
to this Section&nbsp;in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation
of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled
to all the benefits of this Indenture equally and proportionately with any and all other Securities of that Series&nbsp;duly issued hereunder.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The provisions of this Section&nbsp;are exclusive
and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.9 <U>Outstanding Securities</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Securities outstanding at any time are all
the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions
in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section&nbsp;as
not outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If a Security is replaced pursuant to Section&nbsp;2.8,
it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If the Paying Agent (other than the Company, a
Subsidiary of the Company or an Affiliate of the Company) holds on the Maturity of Securities of a Series&nbsp;money sufficient to pay
such Securities payable on that date, then on and after that date such Securities of the Series&nbsp;cease to be outstanding and interest
on them ceases to accrue.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company may purchase or otherwise acquire
the Securities, whether by open market purchases, negotiated transactions or otherwise. A Security does not cease to be outstanding because
the Company or an Affiliate of the Company holds the Security (but see Section&nbsp;2.10 below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">In determining whether the Holders of the requisite
principal amount of outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder,
the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal
thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity thereof
pursuant to Section&nbsp;6.2.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.10 <U>Treasury Securities</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">In determining whether the Holders of the required
principal amount of Securities of a Series&nbsp;have concurred in any request, demand, authorization, direction, notice, consent or waiver,
Securities of a Series&nbsp;owned by the Company or any Affiliate of the Company shall be disregarded, except that for the purposes of
determining whether the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or
waiver only Securities of a Series&nbsp;that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.11 <U>Temporary Securities</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Until definitive Securities are ready for delivery,
the Company may prepare and the Trustee shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be substantially
in the form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without
unreasonable delay, the Company shall prepare and the Trustee upon receipt of a Company Order shall authenticate definitive Securities
of the same Series&nbsp;and date of maturity in exchange for temporary Securities. Until so exchanged, temporary securities shall have
the same rights under this Indenture as the definitive Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.12 <U>Cancellation</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company at any time may deliver Securities
to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for
registration of transfer, exchange or payment. The Trustee shall cancel all Securities surrendered for transfer, exchange, payment, replacement
or cancellation in accordance with its customary procedures (subject to the record retention requirement of the Exchange Act and the Trustee)
and deliver a certificate of such cancellation to the Company upon written request of the Company. The Company may not issue new Securities
to replace Securities that it has paid or delivered to the Trustee for cancellation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.13 <U>Defaulted Interest</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If the Company defaults in a payment of interest
on a Series&nbsp;of Securities, it shall pay the defaulted interest, plus, to the extent permitted by law, any interest payable on the
defaulted interest, to the persons who are Securityholders of the Series&nbsp;on a subsequent special record date. The Company shall fix
the record date and payment date. At least 10 days before the special record date, the Company shall send to the Trustee and to each Securityholder
of the Series&nbsp;a notice that states the special record date, the payment date and the amount of interest to be paid. The Company may
pay defaulted interest in any other lawful manner.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.14 <U>Global Securities</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.14.1. <U>Terms of Securities</U>. A Board Resolution,
a supplemental indenture hereto or an Officer&rsquo;s Certificate shall establish whether the Securities of a Series&nbsp;shall be issued
in whole or in part in the form of one or more Global Securities and the Depositary for such Global Security or Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.14.2. <U>Transfer and Exchange</U>. Notwithstanding
any provisions to the contrary contained in Section&nbsp;2.7 of the Indenture and in addition thereto, any Global Security shall be exchangeable
pursuant to Section&nbsp;2.7 of the Indenture for Securities registered in the names of Holders other than the Depositary for such Security
or its nominee only if (i)&nbsp;such Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such
Global Security 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
or (ii)&nbsp;the Company executes and delivers to the Trustee an Officer&rsquo;s Certificate to the effect that such&#8239;Global Security shall
be so exchangeable. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities
registered in such names as the Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of
the Global Security with like tenor and terms.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Except as provided in this Section&nbsp;2.14.2,
a Global Security may not be transferred except as a whole by the Depositary with respect to such Global Security 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Neither the Trustee nor any Agent shall have any
responsibility for any actions taken or not taken by the Depositary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.14.3. <U>Legends</U>. Any Global Security issued
hereunder shall bear a legend in substantially the following form:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;THIS SECURITY IS A GLOBAL SECURITY 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
SECURITY IS EXCHANGEABLE FOR SECURITIES 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&nbsp;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.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">In addition, so long as the Depository Trust Company
(&ldquo;<I>DTC</I>&rdquo;) is the Depositary, each Global Note registered in the name of DTC or its nominee shall bear a legend in substantially
the following form:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;UNLESS THIS GLOBAL NOTE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (&ldquo;DTC&rdquo;), TO THE COMPANY OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY GLOBAL NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE&nbsp;&amp; CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE&nbsp;&amp; CO. OR TO SUCH OTHER ENTITY
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH THE REGISTERED OWNER HEREOF, CEDE&nbsp;&amp; CO., HAS AN INTEREST HEREIN.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.14.4. <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 the Indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;Any request, demand, authorization, direction,
notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by
one or more instruments of substantially similar tenor signed by such Holders in person or by agent duly appointed in writing; and, except
as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee
and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the &ldquo;Act&rdquo; of Holders signing such instrument or instruments. Proof of execution
of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and conclusive
in favor of the Trustee and the Company, if made in the manner provided in this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;The fact and date of the execution by any
Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary
public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or
writing acknowledged to such officer the execution thereof. Where such execution is by a signer acting in a capacity other than such signer&rsquo;s
individual capacity, such certificate or affidavit shall also constitute sufficient proof of such signer&rsquo;s authority. The fact and
date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any
other manner which the Trustee deems sufficient.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;The ownership of Global Securities or any
Securities issued in certificated form shall be proved by the Registrar.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;If the Company shall solicit from the Holders
any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company may, at its option, by or pursuant to
a Board Resolution, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization,
direction, notice, consent, waiver or other Act, but the Company shall have no obligation to do so. If such a record date is fixed, such
request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only
the Holders of record at the close of business on such record date shall be deemed to be Holders for the purposes of determining whether
Holders of the requisite proportion of Outstanding Securities have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Securities shall be computed as of such record date;
provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall
become effective pursuant to the provisions of this Indenture not later than six months after the record date.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.14.5. <U>Payments</U>. Notwithstanding the other
provisions of this Indenture, unless otherwise specified as contemplated by Section&nbsp;2.2, payment of the principal of and interest,
if any, on any Global Security shall be made to the Holder thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">2.14.6. <U>Consents, Declaration and Directions</U>.
The Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount of outstanding Securities of such Series&nbsp;represented
by a Global Security as shall be specified in a written statement of the Depositary or by the applicable procedures of such Depositary
with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or directions required to be given
by the Holders pursuant to this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;2.15 <U>CUSIP Numbers</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company in issuing the Securities may use
 &ldquo;CUSIP&rdquo; numbers (if then generally in use), and, if so, the Trustee shall use &ldquo;CUSIP&rdquo; numbers in notices of redemption
as a convenience to Holders; <U>provided</U> that the Trustee shall not be responsible for the accuracy of any CUSIP printed on any Security,
notice or elsewhere and <I><U>provided further</U></I> that any such notice may state that no representation is made as to the correctness
of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only
on the other elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission
of such numbers. The Company shall promptly notify the Trustee of any change that the Company is aware of in the CUSIP numbers.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;3.1 <U>Notice to Trustee</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company may, with respect to any Series&nbsp;of
Securities, reserve the right to redeem and pay the Series&nbsp;of Securities or may covenant to redeem and pay the Series&nbsp;of Securities
or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities. If a Series&nbsp;of
Securities is redeemable and the Company wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the Series&nbsp;of
Securities pursuant to the terms of such Securities, it shall notify the Trustee in writing of the redemption date and the principal amount
of Series&nbsp;of Securities to be redeemed. The Company shall give the notice at least 5 days before the notice is delivered to the Holders,
unless a shorter period is satisfactory to the Trustee.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;3.2 <U>Selection of Securities to
be Redeemed</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Unless otherwise indicated for a particular Series&nbsp;by
a Board Resolution, a supplemental indenture hereto or an Officer&rsquo;s Certificate, if less than all the Securities of a Series&nbsp;are
to be redeemed, the Securities of the Series&nbsp;to be redeemed will be selected as follows: (a)&nbsp;if the Securities are in the form
of Global Securities, in accordance with the procedures of the Depositary, (b)&nbsp;if the Securities are listed on any national securities
exchange, in compliance with the requirements of the principal national securities exchange, if any, on which the Securities are listed,
or (c)&nbsp;if not otherwise provided for under clause (a)&nbsp;or (b)&nbsp;in the manner that the Trustee deems fair and appropriate,
including <I>pro rata,</I> by lot or other method, unless otherwise required by law or applicable stock exchange requirements, subject,
in the case of Global Securities, to the applicable rules&nbsp;and procedures of the Depositary. The Securities to be redeemed shall be
selected from Securities of the Series&nbsp;outstanding not previously called for redemption. Portions of the principal of Securities
of the Series&nbsp;that have denominations larger than $1,000 may be selected for redemption. Securities of the Series&nbsp;and portions
of them it selected for redemption shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to Securities of any Series&nbsp;issuable
in other denominations pursuant to Section&nbsp;2.2.10, the minimum principal denomination for each Series&nbsp;and the authorized integral
multiples thereof. Provisions of this Indenture that apply to Securities of a Series&nbsp;called for redemption also apply to portions
of Securities of that Series&nbsp;called for redemption.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;3.3 <U>Notice of Redemption</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Unless otherwise indicated for a particular Series&nbsp;by
Board Resolution, a supplemental indenture hereto or an Officer&rsquo;s Certificate, at least 15 days but not more than 60 days before
a redemption date, the Company shall send or cause to be sent by first-class mail or electronically, in accordance with the procedures
of the Depositary, a notice of redemption to each Holder whose Securities are to be redeemed (with a copy to the Trustee).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The notice shall identify the Securities of the
Series&nbsp;to be redeemed and shall state:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;the redemption date;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;the redemption price (or manner of calculation
if not then known);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;the name and address of the Paying Agent;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;if any Securities are being redeemed in
part, the portion of the principal amount of such Securities to be redeemed and that, after the redemption date and upon surrender of
such Security, a new Security or Securities in principal amount equal to the unredeemed portion of the original Security shall be issued
in the name of the Holder thereof upon cancellation of the original Security;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;that Securities of the Series&nbsp;called
for redemption must be surrendered to the Paying Agent to collect the redemption price;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;that interest on Securities of the Series&nbsp;called
for redemption ceases to accrue on and after the redemption date unless the Company defaults in the deposit of the redemption price;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;the CUSIP number, if any; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)&nbsp;any other information as may be required
by the terms of the particular Series&nbsp;or the Securities of a Series&nbsp;being redeemed.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">At the Company&rsquo;s request, the Trustee shall
give the notice of redemption in the Company&rsquo;s name and at its expense, provided, however, that the Company has delivered to the
Trustee, at least 5 days (unless a shorter time shall be acceptable to the Trustee) prior to the notice date, an Officer&rsquo;s Certificate
requesting that the Trustee give such notice and setting forth the information to be stated in such notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;3.4 <U>Effect of Notice of Redemption</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Once notice of redemption is sent as provided
in Section&nbsp;3.3, Securities of a Series&nbsp;called for redemption become due and payable on the redemption date and at the redemption
price. Except as otherwise provided in the supplemental indenture, Board Resolution or Officer&rsquo;s Certificate for a Series, a notice
of redemption may not be conditional. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued
interest to the redemption date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;3.5 <U>Deposit of Redemption Price</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">On or before 11:00 a.m., New York City time, on
the redemption date, the Company shall irrevocably deposit with the Paying Agent money sufficient (as determined by the Company) to pay
the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;3.6 <U>Securities Redeemed in Part</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Upon surrender of a Security that is redeemed
in part, the Trustee shall authenticate for the Holder a new Security of the same Series&nbsp;and the same maturity equal in principal
amount to the unredeemed portion of the Security surrendered.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;4.1 <U>Payment of Principal and Interest</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company covenants and agrees for the benefit
of the Holders of each Series&nbsp;of Securities that it will duly and punctually pay the principal of and interest, if any, on the Securities
of that Series&nbsp;in accordance with the terms of such Securities and this Indenture. On or before 11:00 a.m., New York City time, on
the applicable payment date, the Company shall deposit with the Paying Agent money sufficient to pay the principal of and interest, if
any, on the Securities of each Series&nbsp;in accordance with the terms of such Securities and this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;4.2 <U>SEC Reports</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">To the extent any Securities of a Series&nbsp;are
outstanding, the Company shall deliver to the Trustee within 15 days after it files them with the SEC copies of the annual reports and
of the information, documents, and other reports (or copies of such portions of any of the foregoing as the SEC may by rules&nbsp;and
regulations prescribe) which the Company is required to file with the SEC pursuant to Section&nbsp;13 or 15(d)&nbsp;of the Exchange Act.
The Company also shall comply with the other provisions of TIA &sect; 314(a). Reports, information and documents filed with the SEC via
the EDGAR system (or any successor system thereto) will be deemed to be delivered to the Trustee as of the time of such filing via EDGAR
for purposes of this Section&nbsp;4.2, it being understood that the Trustee shall have no responsibility whatsoever to determine if such
filings have been made, and that the Trustee shall not be deemed to have knowledge of the information contained therein.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Trustee shall have no duty to review or analyze
reports delivered to it. Delivery of reports, information and documents to the Trustee under this Section&nbsp;4.2 are for informational
purposes only and the Trustee&rsquo;s receipt of the foregoing shall not constitute constructive or actual notice or knowledge of any
information contained therein or determinable from information contained therein, including the Company&rsquo;s compliance with any of
their covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer&rsquo;s Certificates).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;4.3 <U>Compliance Certificate</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">To the extent any Securities of a Series&nbsp;are
outstanding, the Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officer&rsquo;s
Certificate 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 Officers with a view to determining whether the Company has kept, observed, performed and fulfilled
its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his/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 hereof (or, if a Default or Event of Default shall have
occurred, describing all such Defaults or Events of Default of which the Officer may have knowledge).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;4.4 <U>Stay, Extension and Usury Laws</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company covenants (to the extent that it may
lawfully do so) that it 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, which may affect the covenants or the performance
of this Indenture or the Securities; and the Company (to the extent it may lawfully do so) 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, but will suffer and permit the execution of every such power as though no such law has been enacted.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;5.1 <U>When Company May&nbsp;Merge,
Etc</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company shall not consolidate with or merge
with or into, or convey, transfer or lease all or substantially all of its properties and assets to, any person (a &ldquo;<I>successor
person</I>&rdquo;) unless:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;the Company is the surviving corporation
or the successor person (if other than the Company) is a corporation organized and validly existing under the laws of any U.S. domestic
jurisdiction and expressly assumes, by a supplemental indenture, executed and delivered to the Trustee, the Company&rsquo;s obligations
on the Securities and under this Indenture; and</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;immediately after giving effect to the transaction,
no Default or Event of Default, shall have occurred and be continuing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Where the Company is not the surviving corporation,
the Company shall deliver to the Trustee prior to the consummation of the proposed transaction an Officer&rsquo;s Certificate to the foregoing
effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture comply with this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Notwithstanding the above, any Subsidiary of the
Company may consolidate with, merge into or transfer all or part of its properties to the Company. Neither an Officer&rsquo;s Certificate
nor an Opinion of Counsel shall be required to be delivered in connection therewith.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;5.2 <U>Successor Corporation Substituted</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Upon any consolidation or merger, or any sale,
lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section&nbsp;5.1, the
successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, lease, conveyance
or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this
Indenture with the same effect as if such successor person has been named as the Company herein; <U>provided</U>, <U>however</U>, that
the predecessor Company in the case of a sale, conveyance or other disposition (other than a lease) shall be released from all obligations
and covenants under this Indenture and the Securities.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.1 <U>Events of Default</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&ldquo;<I>Event of Default</I>,&rdquo; wherever
used herein with respect to Securities of any Series, means any one of the following events, unless in the establishing Board Resolution,
supplemental indenture or Officer&rsquo;s Certificate, it is provided that such Series&nbsp;shall not have the benefit of said Event of
Default:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;default in the payment of any interest on
any Security of that Series&nbsp;when it becomes due and payable, and continuance of such default for a period of 30 days (unless the
entire amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to 11:00 a.m., New York City time,
on the 30<FONT STYLE="font-size: 10pt">th</FONT> day of such period); or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;default in the payment of principal of any
Security of that Series&nbsp;at its Maturity; or</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;default in the performance or breach of
any covenant or warranty of the Company in this Indenture (other than defaults pursuant to paragraphs (a)&nbsp;or (b)&nbsp;above or pursuant
to a covenant or warranty that has been included in this Indenture solely for the benefit of Series&nbsp;of Securities other than that
Series), which default continues uncured for a period of 60 days after there has been given, by registered or certified mail, to the Company
by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the outstanding Securities of that
Series&nbsp;a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a &ldquo;Notice
of Default&rdquo; hereunder; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;the Company pursuant to or within the meaning
of any Bankruptcy Law:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(i)&nbsp;commences a voluntary case,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(ii)&nbsp;consents to the entry of an order for
relief against it in an involuntary case,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(iii)&nbsp;consents to the appointment of a Custodian
of it or for all or substantially all of its property,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(iv)&nbsp;makes a general assignment for the benefit
of its creditors, or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(v)&nbsp;generally is unable to pay its debts
as the same become due; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;a court of competent jurisdiction enters
an order or decree under any Bankruptcy Law that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(i)&nbsp;is for relief against the Company in
an involuntary case,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(ii)&nbsp;appoints a Custodian of the Company
or for all or substantially all of its property, or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(iii)&nbsp;orders the liquidation of the Company,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">and the order or decree remains unstayed and in effect for 60 days;
or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;any other Event of Default provided with
respect to Securities of that Series, which is specified in a Board Resolution, a supplemental indenture hereto or an Officer&rsquo;s
Certificate, in accordance with Section&nbsp;2.2.18.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The term &ldquo;<I>Bankruptcy Law</I>&rdquo; means
title 11, U.S. Code or any similar U.S. Federal or State law for the relief of debtors. The term &ldquo;<I>Custodian</I>&rdquo; means
any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company will provide the Trustee written notice
of any Default or Event of Default within 30 days of becoming aware of the occurrence of such Default or Event of Default, which notice
will describe in reasonable detail the status of such Default or Event of Default and what action the Company is taking or proposes to
take in respect thereof.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.2 <U>Acceleration of Maturity; Rescission
and Annulment</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If an Event of Default with respect to Securities
of any Series&nbsp;at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section&nbsp;6.1(d)&nbsp;or
(e)) then in every such case the Trustee or the Holders of not less than 25% in principal amount of the outstanding Securities of that
Series&nbsp;may declare the principal amount (or, if any Securities of that Series&nbsp;are Discount Securities, such portion of the principal
amount as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities of that
Series&nbsp;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&nbsp;6.1(d)&nbsp;or (e)&nbsp;shall occur, the principal amount (or specified
amount) of and accrued and unpaid interest, if any, on all outstanding Securities shall <I>ipso facto</I> become and be immediately due
and payable without any declaration or other act on the part of the Trustee or any Holder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">At any time after such a declaration of acceleration
with respect to any Series&nbsp;has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee
as hereinafter in this Article&nbsp;provided, the Holders of a majority in principal amount of the outstanding Securities of that Series,
by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if all Events of Default
with respect to Securities of that Series, other than the non-payment of the principal and interest, if any, of Securities of that Series&nbsp;which
have become due solely by such declaration of acceleration, have been cured or waived as provided in Section&nbsp;6.13.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">No such rescission shall affect any subsequent
Default or impair any right consequent thereon.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.3 <U>Collection of Indebtedness
and Suits for Enforcement by Trustee</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company covenants that if</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;default is made in the payment of any interest
on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;default is made in the payment of principal
of any Security at the Maturity thereof, or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;default is made in the deposit of any sinking
fund payment, if any, when and as due by the terms of a Security,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;<I>then</I>, the Company will, upon demand of the Trustee, pay
to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and
interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any overdue
interest at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient
to cover the costs and expenses of collection, including the compensation, reasonable expenses, disbursements and advances of the Trustee,
its agents and counsel.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If the Company fails to pay such amounts forthwith
upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection
of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company
or any other obligor upon such Securities and collect the moneys adjudged or deemed to be payable in the manner provided by law out of
the property of the Company or any other obligor upon such Securities, wherever situated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If an Event of Default with respect to any Securities
of any Series&nbsp;occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights
of the Holders of Securities of such Series&nbsp;by such appropriate judicial proceedings as the Trustee shall deem most effectual to
protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of
the exercise of any power granted herein, or to enforce any other proper remedy.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.4 <U>Trustee May&nbsp;File Proofs
of Claim</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">In case of the pendency of any receivership, insolvency,
liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or
any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective
of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective
of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and
empowered, by intervention in such proceeding or otherwise,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;to file and prove a claim for the whole
amount of principal and interest owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary
or advisable in order to have the claims of the Trustee (including any claim for the compensation, reasonable expenses, disbursements
and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;to collect and receive any moneys or other
property payable or deliverable on any such claims and to distribute the same, and any custodian, receiver, assignee, trustee, liquidator,
sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due it for the compensation, reasonable expenses, disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due the Trustee under Section&nbsp;7.7.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">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 Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim
of any Holder in any such proceeding.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.5 <U>Trustee May&nbsp;Enforce Claims
Without Possession of Securities</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">All rights of action and claims under this Indenture
or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof
in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an
express trust, and any recovery of judgment shall, after provision for the payment of the compensation, reasonable expenses, disbursements
and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such
judgment has been recovered.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.6 <U>Application of Money Collected</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Any money or property collected by the Trustee
pursuant to this Article&nbsp;shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution
of such money or property on account of principal or interest, upon presentation of the Securities and the notation thereon of the payment
if only partially paid and upon surrender thereof if fully paid:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">First: To the payment of all amounts due the Trustee
under Section&nbsp;7.7; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Second: To the payment of the amounts then due
and unpaid for principal of and interest on the Securities in respect of which or for the benefit of which such money has been collected,
ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and interest,
respectively; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Third: To the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.7 <U>Limitation on Suits</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">No Holder of any Security of any Series&nbsp;shall
have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver
or trustee, or for any other remedy hereunder, unless</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;such Holder has previously given written
notice to the Trustee of a continuing Event of Default with respect to the Securities of that Series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;the Holders of not less than 25% in principal
amount of the outstanding Securities of that Series&nbsp;shall have made written request to the Trustee to institute proceedings in respect
of such Event of Default in its own name as Trustee hereunder;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;such Holder or Holders have offered to the
Trustee indemnity or security satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by the Trustee
in compliance with such request;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;the Trustee for 60 days after its receipt
of such notice, request and offer of indemnity has failed to institute any such proceeding; and</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;no direction inconsistent with such written
request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the outstanding Securities
of that Series; it being understood, intended and expressly covenanted by the Holder of every Security with every other Holder and the
Trustee that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision
of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority
or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for
the equal and ratable benefit of all such Holders of the applicable Series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.8 <U>Unconditional Right of Holders
to Receive Principal and Interest</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Notwithstanding any other provision in this Indenture,
the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest,
if any, on such Security on the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in the case of
redemption, on the redemption date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired
without the consent of such Holder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.9 <U>Restoration of Rights and Remedies</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">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 shall be restored severally and respectively to their former positions hereunder and thereafter
all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.10 <U>Rights and Remedies Cumulative</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Except as otherwise provided with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities in Section&nbsp;2.8, no right or remedy herein conferred upon
or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall,
to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing
at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent
permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.11 <U>Delay or Omission Not Waiver</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">No delay or omission of the Trustee or of any
Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute
a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article&nbsp;or by law to the Trustee
or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the
case may be.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.12 <U>Control by Holders</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Holders of a majority in principal amount
of the outstanding Securities of any Series&nbsp;shall have the right to direct the time, method and place of conducting any proceeding
for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of
such Series, provided that</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;such direction shall not be in conflict
with any rule&nbsp;of law or with this Indenture,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;the Trustee may take any other action deemed
proper by the Trustee which is not inconsistent with such direction,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;subject to the provisions of Section&nbsp;7.1,
the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer
of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability, and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;prior to taking any action as directed under
this Section&nbsp;6.12, the Trustee shall be entitled to indemnity satisfactory to it against the losses, costs, expenses and liabilities
which might be incurred by it in compliance with such request or direction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.13 <U>Waiver of Past Defaults</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Holders of not less than a majority in principal
amount of the outstanding Securities of any Series&nbsp;may on behalf of the Holders of all the Securities of such Series, by written
notice to the Trustee and the Company, waive any past Default hereunder with respect to such Series&nbsp;and its consequences, except
a Default in the payment of the principal of or interest on any Security of such Series&nbsp;(provided, however, that the Holders of a
majority in principal amount of the outstanding Securities of any Series&nbsp;may rescind an acceleration and its consequences, including
any related payment default that resulted from such acceleration). Upon any such waiver, such Default shall cease to exist, and any Event
of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend
to any subsequent or other Default or impair any right consequent thereon.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;6.14 <U>Undertaking for Costs</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">All parties to this Indenture agree, and each
Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any
suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered
or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such
court may in its discretion assess reasonable costs, including reasonable attorneys&rsquo; fees, against any party litigant in such suit,
having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section&nbsp;shall
not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group
of Holders, holding in the aggregate more than 10% in principal amount of the outstanding Securities of any Series, or to any suit instituted
by any Holder for the enforcement of the payment of the principal of or interest on any Security on or after the Maturity of such Security,
including the Stated Maturity expressed in such Security (or, in the case of redemption, on the redemption date).</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;7.1 <U>Duties of Trustee</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;If an Event of Default has occurred and
is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill
in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such person&rsquo;s own affairs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;Except during the continuance of an Event
of Default:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(i)&nbsp;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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(ii)&nbsp;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 Officer&rsquo;s
Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of this Indenture; <U>however</U>, in
the case of any such Officer&rsquo;s Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be
furnished to the Trustee, the Trustee shall examine such Officer&rsquo;s Certificates and Opinions of Counsel to determine whether or
not they conform to the form requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations
or other facts stated therein).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;The Trustee may not be relieved from liability
for its own negligent action, its own negligent failure to act or its own willful misconduct, except that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(i)&nbsp;This paragraph does not limit the effect
of paragraph (b)&nbsp;of this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(ii)&nbsp;The Trustee shall not be liable for
any error of judgment made in good faith by a Responsible Officer, unless it is proved in a court of competent jurisdiction that the Trustee
was negligent in ascertaining the pertinent facts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(iii)&nbsp;The Trustee shall not be liable with
respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any Series&nbsp;in good faith in accordance
with the direction of the Holders of a majority in principal amount of the outstanding Securities of such Series&nbsp;relating to the
time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred
upon the Trustee, under this Indenture with respect to the Securities of such Series&nbsp;in accordance with Section&nbsp;6.12.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;Every provision of this Indenture that in
any way relates to the Trustee is subject to paragraph (a), (b)&nbsp;and (c)&nbsp;of this Section.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;The Trustee may refuse to perform any duty
or exercise any right or power unless it receives indemnity satisfactory to it against the losses, costs, expenses and liabilities which
might be incurred by it in performing such duty or exercising such right or power.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;The Trustee shall not be liable for interest
or investment 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;No provision of this Indenture shall require
the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties, or in
the exercise of any of its rights or powers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)&nbsp;The Paying Agent, the Registrar and any
authenticating agent shall be entitled to the protections and immunities as are set forth in paragraphs (e), (f)&nbsp;and (g)&nbsp;of
this Section&nbsp;and in Section&nbsp;7.2, each with respect to the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;7.2 <U>Rights of Trustee</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;The Trustee may conclusively rely on and
shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;Before the Trustee acts or refrains from
acting, it may require an Officer&rsquo;s Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action
it takes or omits to take in good faith in reliance on such Officer&rsquo;s Certificate or Opinion of Counsel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;The Trustee may act through its attorneys
and agents and shall not be responsible for the misconduct or negligence of any attorney or agent appointed with due care. No Depositary
shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any Depositary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;The Trustee shall not be liable for any
action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers, provided that the Trustee&rsquo;s
conduct does not constitute willful misconduct or negligence.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;The Trustee may consult with counsel and
the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action
taken, suffered or omitted by it hereunder without willful misconduct or negligence, and in reliance thereon.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;The Trustee shall 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 of Securities
unless such Holders shall have offered (and, if requested, provided) to the Trustee security or indemnity satisfactory to it against the
losses, costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;The Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion,
may make such further inquiry or investigation into such facts or matters as it may see fit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)&nbsp;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 any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice
references the existence of a Default or Event of Default, the Securities generally or the Securities of a particular Series&nbsp;and
this Indenture and states that it is a notice of &ldquo;Default&rdquo; or &ldquo;Event of Default&rdquo;.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)&nbsp;In no event shall the Trustee be responsible
or liable to any person for special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including
but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the
form of action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(j)&nbsp;The permissive right of the Trustee to take
the actions permitted by this Indenture shall not be construed as an obligation or duty to do so.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(k)&nbsp;No bond or surety shall be required with
respect to performance of Trustee&rsquo;s duties and powers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(l)&nbsp;Under no circumstances shall the Trustee
be liable in its individual capacity for the obligations evidenced by the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(m)&nbsp;Any request or direction of the Company
mentioned herein shall be sufficiently evidenced by a Company Order and any resolution of the Board of Directors may be sufficiently evidenced
by a Board Resolution.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(o)&nbsp;The rights, privileges, protections, immunities
and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable
by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;7.3 <U>Individual Rights of Trustee</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Trustee in its individual or any other capacity
may become the owner or pledgee of Securities and may otherwise deal with the Company or an Affiliate of the Company with the same rights
it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is also subject to Sections 7.10 and 7.11.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;7.4 <U>Trustee&rsquo;s Disclaimer</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Trustee shall not be responsible for and makes
no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company&rsquo;s
use of the proceeds from the Securities, or any money paid to the Company or upon the Company&rsquo;s direction under any provision of
this Indenture, it shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee,
and it shall not be responsible for any statement herein or in the Securities or any other document in connection with the sale of the
Securities other than its authentication. The recitals contained herein and in the Securities, except the Trustee&rsquo;s certificates
of authentication, shall be taken as the statements of the Company, and the Trustee or any Authenticating Agent assumes no responsibility
for their correctness.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;7.5 <U>Notice of Defaults</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If a Default or Event of Default occurs and is
continuing with respect to the Securities of any Series&nbsp;and if it is actually known to a Responsible Officer of the Trustee, the
Trustee shall send to each Securityholder of the Securities of that Series&nbsp;notice of a Default or Event of Default within 90 days
after it occurs or, if later, after a Responsible Officer of the Trustee has knowledge of such Default or Event of Default. Except in
the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold
the notice if and so long as it in good faith determines that withholding the notice is in the interests of Securityholders of that Series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;7.6 <U>Reports by Trustee to Holders</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Within 60 days after each , commencing , 20 ,
the Trustee shall transmit by mail to all Securityholders, as their names and addresses appear on the register kept by the Registrar,
a brief report dated as of such anniversary date, in accordance with, and to the extent required under, TIA &sect; 313.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">A copy of each report at the time of its sending
to Securityholders of any Series&nbsp;shall be filed with the SEC and each national securities exchange on which the Securities of that
Series&nbsp;are listed. The Company shall promptly notify the Trustee in writing when Securities of any Series&nbsp;are listed on any
national securities exchange or delisted from any national securities exchange.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;7.7 <U>Compensation and Indemnity</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company shall pay to the Trustee from time
to time compensation for its services as the Company and the Trustee shall from time to time agree upon in writing. The Trustee&rsquo;s
compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee
upon request for all reasonable out of pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses
of the Trustee&rsquo;s agents and counsel.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company shall indemnify each of the Trustee
and any predecessor Trustee (including for the cost of defending itself) against any cost, damages, losses, expense (including, without
limitation, reasonable out of pocket attorneys&rsquo; fees and expenses) or liability, including taxes (other than taxes based upon, measured
by or determined by the income of the Trustee) incurred by it except as set forth in the next paragraph in the performance of its duties
under this Indenture or in connection with its acceptance of its obligations hereunder or enforcement of this Indenture (including, without
limitation, enforcement of its right to indemnity hereunder), as Trustee or Agent, whether brought by the Company, any Holder or any third
party. The Trustee shall notify the Company promptly of any third party claim for which it may seek indemnity. Failure by the Trustee
to so notify the Company shall not relieve the Company of its obligations hereunder, unless and to the extent that the Company is materially
prejudiced thereby. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have separate counsel
and the Company shall 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. This indemnification shall apply to officers, directors, employees, shareholders
and agents of the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company need not reimburse any expense or
indemnify against any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee
through willful misconduct or negligence, as finally adjudicated by a court of competent jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">To secure the Company&rsquo;s payment obligations
in this Section, the Trustee shall have a lien prior to the Securities of any Series&nbsp;on all money or property held or collected by
the Trustee, except that held in trust to pay principal of and interest on particular Securities of that Series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">When the Trustee incurs expenses or renders services
after an Event of Default specified in Section&nbsp;6.1(d)&nbsp;or (e)&nbsp;occurs, the expenses and the compensation for the services
are intended to constitute expenses of administration under any Bankruptcy Law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The provisions of this Section&nbsp;shall survive
the termination of this Indenture, the repayment of the Securities or the resignation or removal of the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;7.8 <U>Replacement of Trustee</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">A resignation or removal of the Trustee and appointment
of a successor Trustee shall become effective only upon the successor Trustee&rsquo;s acceptance of appointment as provided in this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Trustee may resign with respect to the Securities
of one or more Series&nbsp;by so notifying the Company at least 30 days prior to the date of the proposed resignation. The Holders of
a majority in principal amount of the Securities of any Series&nbsp;may remove the Trustee with respect to that Series&nbsp;by so notifying
the Trustee and the Company in writing at least 30 days prior to such removal. The Company may remove the Trustee with respect to Securities
of one or more Series&nbsp;with at least 30 days written notice if:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;the Trustee fails to comply with Section&nbsp;7.10;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;the Trustee is adjudged a bankrupt or an
insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;a Custodian or public officer takes charge
of the Trustee or its property; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;the Trustee becomes incapable of acting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If the Trustee resigns or is removed or if a vacancy
exists in the office of Trustee for any reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor
Trustee takes office, the Holders of a majority in principal amount of the then-outstanding Securities may appoint a successor Trustee
to replace the successor Trustee appointed by the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If a successor Trustee with respect to the Securities
of any one or more Series&nbsp;does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee
(at the expense of the Company), the Company or the Holders of at least a majority in principal amount of the Securities of the applicable
Series&nbsp;may petition any court of competent jurisdiction for the appointment of a successor Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">A successor Trustee shall deliver a written acceptance
of its appointment to the retiring Trustee and to the Company. Promptly after that, the retiring Trustee shall transfer all property held
by it as Trustee to the successor Trustee subject to the lien provided for in Section&nbsp;7.7, the resignation or removal of the retiring
Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to
each Series&nbsp;of Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall send a notice of its
succession to each Securityholder of each such Series. Notwithstanding replacement of the Trustee pursuant to this Section&nbsp;7.8, the
Company&rsquo;s obligations under Section&nbsp;7.7 hereof shall continue for the benefit of the retiring Trustee with respect to expenses
and liabilities incurred by it for actions taken or omitted to be taken in accordance with its rights, powers and duties under this Indenture
prior to such replacement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;7.9 <U>Successor Trustee by Merger,
Etc</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If the Trustee consolidates with, merges or converts
into, sells or transfers all or substantially all of its corporate trust business to, another corporation, or national banking association,
the successor corporation or national banking association without any further act shall be the successor Trustee, subject to Section&nbsp;7.10.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;7.10 <U>Eligibility; Disqualification</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">This Indenture shall always have a Trustee who
satisfies the requirements of TIA &sect; 310(a)(1), (2)&nbsp;and (5). The Trustee shall always have a combined capital and surplus of
at least $50,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA &sect; 310(b).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;7.11 <U>Preferential Collection of
Claims Against Company</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Trustee is subject to TIA &sect; 311(a), excluding
any creditor relationship listed in TIA &sect; 311(b). A Trustee who has resigned or been removed shall be subject to TIA &sect; 311(a)&nbsp;to
the extent indicated.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;8.1 <U>Satisfaction and Discharge
of Indenture</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">This Indenture shall upon Company Order be discharged
with respect to the Securities of any Series&nbsp;and cease to be of further effect as to all Securities of such Series&nbsp;(except as
hereinafter provided in this Section&nbsp;8.1), and the Trustee, at the expense of the Company, shall execute instruments acknowledging
satisfaction and discharge of this Indenture, when</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(i)&nbsp;all Securities of such Series&nbsp;theretofore
authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been replaced or paid) have
been delivered to the Trustee for cancellation; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.75in">(ii)&nbsp;all such Securities of such Series&nbsp;not
theretofore delivered to the Trustee for cancellation</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(1)&nbsp;have become due and payable by reason of
sending a notice of redemption or otherwise, or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(2)&nbsp;will become due and payable at their Stated
Maturity within one year, or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(3)&nbsp;have been called for redemption or are to
be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Company, or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(4)&nbsp;are deemed paid and discharged pursuant
to Section&nbsp;8.3, as applicable;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">and the Company, in the case of (1), (2)&nbsp;or (3)&nbsp;above, shall
have irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust an amount of money or U.S. Government Obligations,
which amount shall be sufficient (as determined by the Company) for the purpose of paying and discharging each installment of principal
(including mandatory sinking fund or analogous payments) of and interest on all the Securities of such Series&nbsp;on the dates such installments
of principal or interest are due;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;the Company has paid or caused to be paid
all other sums payable hereunder by the Company; and</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;the Company shall have delivered to the
Trustee an Officer&rsquo;s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to
the satisfaction and discharge contemplated by this Indenture have been complied with.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Notwithstanding the satisfaction and discharge
of this Indenture, the obligations of the Company to the Trustee under Section&nbsp;7.7, and, if money shall have been deposited with
the Trustee pursuant to clause (a)&nbsp;of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall survive.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;8.2 <U>Application of Trust Funds;
Indemnification</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;Subject to the provisions of Section&nbsp;8.5,
all money and U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section&nbsp;8.1, 8.3
or 8.4 and all money received by the Trustee in respect of U.S. Government Obligations or Foreign Government Obligations deposited with
the Trustee pursuant to Section&nbsp;8.1, 8.3 or 8.4, shall be held in trust and applied by it, in accordance with the provisions of the
Securities 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 interest for whose payment such money has been
deposited with or received by the Trustee or to make mandatory sinking fund payments or analogous payments as contemplated by Sections
8.1, 8.3 or 8.4.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;The Company shall pay and shall indemnify
the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign Government Obligations
deposited pursuant to Sections 8.1, 8.3 or 8.4 or the interest and principal received in respect of such obligations other than any payable
by or on behalf of Holders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;The Trustee shall deliver or pay to the
Company from time to time upon Company Order any U.S. Government Obligations or Foreign Government Obligations or money held by it as
provided in Sections 8.3 or 8.4 which, in the opinion of a nationally recognized firm of independent certified public accountants or investment
bank expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount thereof which then would
have been required to be deposited for the purpose for which such U.S. Government Obligations or Foreign Government Obligations or money
were deposited or received. This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations or Foreign Government
Obligations held under this Indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;8.3 <U>Legal Defeasance of Securities
of any Series</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Unless this Section&nbsp;8.3 is otherwise specified,
pursuant to Section&nbsp;2.2, to be inapplicable to Securities of any Series, the Company shall be deemed to have paid and discharged
the entire indebtedness on all the outstanding Securities of any Series&nbsp;on the 91st day after the date of the deposit referred to
in subparagraph (d)&nbsp;hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of such Series, shall
no longer be in effect (and the Trustee, at the expense of the Company, shall, upon receipt of a Company Order, execute instruments acknowledging
the same), except as to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;the rights of Holders of Securities of such
Series&nbsp;to receive, from the trust funds described in subparagraph (d)&nbsp;hereof, (i)&nbsp;payment of the principal of and each
installment of principal of and interest on the outstanding Securities of such Series&nbsp;on the Maturity of such principal or installment
of principal or interest and (ii)&nbsp;the benefit of any mandatory sinking fund payments applicable to the Securities of such Series&nbsp;on
the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such Series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;the provisions of Sections 2.4, 2.5, 2.7,
2.8, 7.7, 8.2, 8.3, 8.5 and 8.6; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;the rights, powers, trusts, indemnities
and immunities of the Trustee hereunder and the Company&rsquo;s obligations in connection therewith;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">provided that, the following conditions shall have been satisfied:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;the Company shall have irrevocably deposited
or caused to be deposited (except as provided in Section&nbsp;8.2(c)) with the Trustee as trust funds specifically pledged as security
for and dedicated solely to the benefit of the Holders of such Securities (i)&nbsp;in the case of Securities of such Series&nbsp;denominated
in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii)&nbsp;in the case of Securities of such Series&nbsp;denominated
in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest
and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax liability
will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in
the opinion of a nationally recognized firm of independent public accountants or investment bank expressed in a written certification
thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest, on and any mandatory sinking fund
payments in respect of all the Securities of such Series&nbsp;on the dates such installments of principal or interest and such sinking
fund payments are due;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;such deposit will not result in a breach
or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or
by which it is bound;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;no Default or Event of Default with respect
to the Securities of such Series&nbsp;shall have occurred and be continuing on the date of such deposit or during the period ending on
the 91st day after such date;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;the Company shall have delivered to the
Trustee an Officer&rsquo;s Certificate and an Opinion of Counsel to the effect that (i)&nbsp;the Company has received from, or there has
been published by, the Internal Revenue Service a ruling, or (ii)&nbsp;since the date of execution of this Indenture, there has been a
change in the applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm
that, the Holders of the Securities of such Series&nbsp;will not recognize income, gain or loss for Federal income tax purposes as a result
of such deposit, defeasance and discharge and will be subject to Federal income tax on the same amount and in the same manner and at the
same times as would have been the case if such deposit, defeasance and discharge had not occurred;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)&nbsp;the Company shall have delivered to the
Trustee an Officer&rsquo;s Certificate stating that the deposit was not made by the Company with the intent of defeating, hindering, delaying
or defrauding any other creditors of the Company; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)&nbsp;the Company shall have delivered to the
Trustee an Officer&rsquo;s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to
the defeasance contemplated by this Indenture have been complied with.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;8.4 <U>Covenant Defeasance</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Unless this Section&nbsp;8.4 is otherwise specified
pursuant to Section&nbsp;2.2 to be inapplicable to Securities of any Series, the Company may omit to comply with respect to the Securities
of any Series&nbsp;with any term, provision or condition set forth under Sections 4.2, 4.3, 4.4 and 5.1 and, unless otherwise specified
therein, any additional covenants specified in a supplemental indenture for such Series&nbsp;of Securities or a Board Resolution or an
Officer&rsquo;s Certificate delivered pursuant to Section&nbsp;2.2 (and the failure to comply with any such covenants shall not constitute
a Default or Event of Default with respect to such Series&nbsp;under Section&nbsp;6.1) and the occurrence of any event specified in a
supplemental indenture for such Series&nbsp;of Securities or a Board Resolution or an Officer&rsquo;s Certificate delivered pursuant to
Section&nbsp;2.2.18 and designated as an Event of Default shall not constitute a Default or Event of Default hereunder, with respect to
the Securities of such Series, but, except as specified above, the remainder of this Indenture and such Securities will be unaffected
thereby; provided that the following conditions shall have been satisfied:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;with reference to this Section&nbsp;8.4,
the Company has irrevocably deposited or caused to be irrevocably deposited (except as provided in Section&nbsp;8.2(c)) with the Trustee
as trust funds in trust for the purpose of making the following payments specifically pledged as security for, and dedicated solely to,
the benefit of the Holders of such Securities (i)&nbsp;in the case of Securities of such Series&nbsp;denominated in Dollars, cash in Dollars
and/or U.S. Government Obligations, or (ii)&nbsp;in the case of Securities of such Series&nbsp;denominated in a Foreign Currency (other
than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect
thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee),
not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized
firm of independent certified public accountants or investment bank expressed in a written certification thereof delivered to the Trustee,
to pay and discharge each installment of principal (including mandatory sinking fund or analogous payments) of and interest on all the
Securities of such Series&nbsp;on the dates such installments of principal or interest are due;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;such deposit will not result in a breach
or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or
by which it is bound;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;no Default or Event of Default with respect
to the Securities of such Series&nbsp;shall have occurred and be continuing on the date of such deposit;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;the Company shall have delivered to the
Trustee an Officers&rsquo; Certificate and an Opinion of Counsel to the effect that (i)&nbsp;the Company has received from, or there has
been published by, the Internal Revenue Service a ruling, or (ii)&nbsp;since the date of execution of this Indenture, there has been a
change in the applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm,
subject to customary exclusions, that the Holders of the Securities of such Series&nbsp;will not recognize income, gain or loss for Federal
income tax purposes as a result of such deposit, covenant defeasance and discharge and will be subject to Federal income tax on the same
amount and in the same manner and at the same times as would have been the case if such deposit, covenant defeasance and discharge had
not occurred;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;The Company shall have delivered to the
Trustee an Officer&rsquo;s Certificate stating the deposit was not made by the Company with the intent of defeating, hindering, delaying
or defrauding any other creditors of the Company; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;The Company shall have delivered to the
Trustee an Officer&rsquo;s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating
to the covenant defeasance contemplated by this Indenture have been complied with.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;8.5 <U>Repayment to Company</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Subject to applicable abandoned property law,
the Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of principal and interest
that remains unclaimed for two years. After that, Securityholders entitled to the money must look to the Company for payment as general
creditors unless an applicable abandoned property law designates another person, and the Trustee shall have no further liability with
respect to such money.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;8.6 <U>Reinstatement</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If the Trustee or the Paying Agent is unable to
apply any money deposited with respect to Securities of any Series&nbsp;in accordance with Section&nbsp;8.1 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 obligations of the Company under this Indenture with respect to the Securities of such Series&nbsp;and under the Securities of such
Series&nbsp;shall be revived and reinstated as though no deposit had occurred pursuant to Section&nbsp;8.1 until such time as the Trustee
or the Paying Agent is permitted to apply all such money in accordance with Section&nbsp;8.1; <U>provided</U>, <U>however</U>, that if
the Company has made any payment of principal of or interest on or any Additional Amounts with respect to any Securities because of the
reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment
from the money or U.S. Government Obligations held by the Trustee or Paying Agent after payment in full to the Holders.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;9.1 <U>Without Consent of Holders</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company and the Trustee may amend or supplement
this Indenture or the Securities of one or more Series&nbsp;without the consent of any Securityholder:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;to cure any ambiguity, defect or inconsistency
as evidenced by an Officer Certificate;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;to comply with Article&nbsp;V;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;to provide for uncertificated Securities
in addition to or in place of certificated Securities;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;to add guarantees with respect to Securities
of any Series&nbsp;or secure Securities of any Series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;to surrender any of the Company&rsquo;s
rights or powers under this Indenture;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;to add covenants or events of default for
the benefit of the holders of Securities of any Series;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;to comply with the applicable procedures
of the applicable depositary;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)&nbsp;to make any change that does not adversely
affect the rights of any Securityholder;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)&nbsp;to provide for the issuance of and establish
the form and terms and conditions of Securities of any Series&nbsp;as permitted by this Indenture;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(j)&nbsp;to evidence and provide for the acceptance
of appointment hereunder by a successor or separate Trustee with respect to the Securities of one or more Series&nbsp;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;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(k)&nbsp;to comply with requirements of the SEC in
order to effect or maintain the qualification of this Indenture under the TIA;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(l)&nbsp;to add to, change or eliminate any provision
of this Indenture or the Securities of such Series&nbsp;in accordance with the TIA, or to comply with the provisions of DTC, Euroclear
or Clearstream or the Trustee with respect to provisions of this Indenture or the Securities of such Series&nbsp;relating to transfers
or exchanges of the Securities of such Series&nbsp;or beneficial interests in the Securities of such Series; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(m)&nbsp;to conform any provision of this Indenture,
in so far as it relates to the Securities of such Series, to the description of the Securities of such Series&nbsp;in the prospectus supplement
relation to the offering of the Securities of such Series.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;9.2 <U>With Consent of Holders</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">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 Securities of
each Series&nbsp;affected by such supplemental indenture (including consents obtained in connection with a tender offer or exchange offer
for the Securities 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 Securityholders of each such Series.
Except as provided in Section&nbsp;6.13, the Holders of at least a majority in aggregate principal amount of the outstanding Securities
of any Series&nbsp;by notice to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Securities
of such Series) may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">It shall not be necessary for the consent of the
Holders of Securities under this Section&nbsp;9.2 to approve the particular form of any proposed supplemental indenture or waiver, but
it shall be sufficient if such consent approves the substance thereof. After a supplemental indenture or waiver under this section becomes
effective, the Company shall send to the Holders of Securities affected thereby, a notice briefly describing the supplemental indenture
or waiver. Any failure by the Company to send such notice, or any defect therein, shall not, however, in any way impair or affect the
validity of any such supplemental indenture or waiver.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;9.3 <U>Limitations</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Without the consent of each Securityholder affected,
an amendment or waiver may not:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;reduce the principal amount of Securities
whose Holders must consent to an amendment, supplement or waiver;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;reduce the rate of or extend the time for
payment of interest (including default interest) on any Security;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;reduce the principal or change the Stated
Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;reduce the principal amount of Discount
Securities payable upon acceleration of the maturity thereof;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;waive a Default or Event of Default in the
payment of the principal of or interest, if any, on any Security (except a rescission of acceleration of the Securities of any Series&nbsp;by
the Holders of at least a majority in principal amount of the outstanding Securities of such Series&nbsp;and a waiver of the payment default
that resulted from such acceleration);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;make the principal of or interest, if any,
on any Security payable in any currency other than that stated in the Security;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;make any change in Sections 6.8, 6.13 or
9.3 (this sentence); or</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)&nbsp;waive a redemption payment with respect
to any Security, provided that such redemption is made at the Company&rsquo;s option.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;9.4 <U>Compliance with Trust Indenture
Act</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Every amendment to this Indenture or the Securities
of one or more Series&nbsp;shall be set forth in a supplemental indenture hereto that complies with the TIA as then in effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;9.5 <U>Revocation and Effect of Consents</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Until an amendment is set forth in a supplemental
indenture or a waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent
Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder&rsquo;s Security, even if notation
of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to his Security or
portion of a Security if the Trustee receives the notice of revocation before the date of the supplemental indenture or the date the waiver
becomes effective.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Any amendment or waiver once effective shall bind
every Securityholder of each Series&nbsp;affected by such amendment or waiver unless it is of the type described in any of clauses (a)&nbsp;through
(h)&nbsp;of Section&nbsp;9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every
subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder&rsquo;s Security.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company may, but shall not be obligated to,
fix a record date for the purpose of determining the Holders entitled to give their consent or take any other action described above or
required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the second immediately preceding
paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those persons, shall be entitled
to give such consent or to revoke any consent previously given or take any such action, whether or not such Persons continue to be Holders
after such record date. No such consent shall be valid or effective for more than 120 days after such record date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;9.6 <U>Notation on or Exchange of
Securities</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company or the Trustee may place an appropriate
notation about an amendment or waiver on any Security of any Series&nbsp;thereafter authenticated. The Company in exchange for Securities
of that Series&nbsp;may issue and the Trustee shall authenticate upon receipt of a Company Order in accordance with Section&nbsp;2.3 new
Securities of that Series&nbsp;that reflect the amendment or waiver.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;9.7 <U>Trustee Protected</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">In executing, or accepting the additional trusts
created by, any supplemental indenture permitted by this Article&nbsp;or the modifications thereby of the trusts created by this Indenture,
the Trustee shall be entitled to receive, and (subject to Section&nbsp;7.1) shall be fully protected in relying upon, an Officer&rsquo;s
Certificate or an Opinion of Counsel or both complying with Section&nbsp;10.4 and stating that the supplemental indenture is authorized
or permitted by this Indenture and, with respect to such Opinion of Counsel, that such supplemental indenture constitutes a legal valid
and binding obligation of the Company, enforceable against it in accordance with its terms. The Trustee shall sign all supplemental indentures
upon delivery of such an Officer&rsquo;s Certificate or Opinion of Counsel or both, except that the Trustee need not sign any supplemental
indenture that adversely affects its rights, duties, indemnities, liabilities or immunities under this Indenture.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.1 <U>Trust Indenture Act Controls</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If any provision of this Indenture limits, qualifies,
or conflicts with another provision which is required or deemed to be included in this Indenture by the TIA, such required or deemed provision
shall control.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.2 <U>Notices</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Any notice or communication by the Company or
the Trustee to the other, or by a Holder to the Company or the Trustee, is duly given if in writing and delivered in person or mailed
by first-class mail (registered or certified, return receipt requested), facsimile transmission, email or overnight air courier guaranteeing
next day delivery, to the others&rsquo; address:</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%; font-size: 10pt; text-indent: 1in">FuelCell Energy,&nbsp;Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-indent: 1in">3 Great Pasture Road</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-indent: 1in">Danbury, CT 06810</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-indent: 1in">Attention: General Counsel</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-indent: 1in">Foley&nbsp;&amp; Lardner LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-indent: 1in">100 North Tampa Street, Suite&nbsp;2700</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-indent: 1in">Tampa, Florida 33602</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-indent: 1in">Attention: Megan A. Odroniec</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="1" STYLE="padding-left: 1in; font: 10pt Times New Roman, Times, Serif">Wilmington Trust, National Association</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="1" STYLE="padding-left: 1in; font: 10pt Times New Roman, Times, Serif">Global Capital Markets</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="1" STYLE="padding-left: 1in; font: 10pt Times New Roman, Times, Serif">99 Wood Avenue South - Suite #1000</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="1" STYLE="padding-left: 1in; font: 10pt Times New Roman, Times, Serif">Iselin, NJ 08830</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="1" STYLE="padding-left: 1in; font: 10pt Times New Roman, Times, Serif">Attention: FuelCell Energy Administrator</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company or the Trustee by notice to the other
may designate additional or different addresses for subsequent notices or communications. Any notice or communication delivered to the
Trustee shall be deemed effective upon actual receipt thereof.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Any notice or communication to a Securityholder
shall be sent electronically or by first-class mail to his address shown on the register kept by the Registrar, in accordance with the
procedures of the Depositary. Failure to send a notice or communication to a Securityholder of any Series&nbsp;or any defect in it shall
not affect its sufficiency with respect to other Securityholders of that or any other Series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If a notice or communication is sent or published
in the manner provided above, within the time prescribed, it is duly given, whether or not the Securityholder receives it.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If the Company sends a notice or communication
to Securityholders, it shall send a copy to the Trustee and each Agent at the same time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Notwithstanding any other provision of this Indenture
or any Security, where this Indenture or any Security provides for notice of any event (including any notice of redemption) to a Holder
of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given to the Depositary for such Security (or its
designee) pursuant to the customary procedures of such Depositary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.3 <U>Communication by Holders with
Other Holders</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Securityholders of any Series&nbsp;may communicate
pursuant to TIA &sect; 312(b)&nbsp;with other Securityholders of that Series&nbsp;or any other Series&nbsp;with respect to their rights
under this Indenture or the Securities of that Series&nbsp;or all Series. The Company, the Trustee, the Registrar and anyone else shall
have the protection of TIA &sect; 312(c).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.4 <U>Certificate and Opinion as
to Conditions Precedent</U></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;an Officer&rsquo;s Certificate stating that,
in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been
complied with; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;an Opinion of Counsel stating that, in the
opinion of such counsel, all such conditions precedent have been complied with.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.5 <U>Statements Required in Certificate
or Opinion</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">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 TIA &sect; 314(a)(4)) shall
comply with the provisions of TIA &sect; 314(e)&nbsp;and shall include:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;a statement that the person making such
certificate or opinion has read such covenant or condition;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;a brief statement as to the nature and scope
of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;a statement that, in the opinion of such
person, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not
such covenant or condition has been complied with; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;a statement as to whether or not, in the
opinion of such person, such condition or covenant has been complied with.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.6 <U>Rules&nbsp;by Trustee and
Agents</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Trustee may make reasonable rules&nbsp;for
action by or a meeting of Securityholders of one or more Series. Any Agent may make reasonable rules&nbsp;and set reasonable requirements
for its functions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.7 <U>Legal Holidays</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">A &ldquo;<I>Legal Holiday</I>&rdquo; is any day
that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next
succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.8 <U>No Recourse Against Others</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">A director, officer, employee or stockholder (past
or present), as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture
or for any claim based on, in respect of or by reason of such obligations or their creation. Each Securityholder by accepting a Security
waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.9 <U>Counterparts</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">This Indenture may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and
all of which taken together shall constitute one and the same agreement. The exchange of copies of this Indenture and of signature pages&nbsp;by
facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be
used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed
to be their original signatures for all purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.10 <U>Governing Law; Waiver of
Jury Trial; Consent to Jurisdiction</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in"><B>THIS INDENTURE AND THE SECURITIES,&nbsp;INCLUDING
ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF
NEW YORK. THE COMPANY, THE TRUSTEE AND THE HOLDERS (BY THEIR ACCEPTANCE OF THE SECURITIES) EACH HEREBY IRREVOCABLY WAIVE, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE,
THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Any legal suit, action or proceeding arising out
of or based upon this Indenture or the transactions contemplated hereby may be instituted in the federal courts of the United States of
America located in the City of New York or the courts of the State of New York in each case located in the City of New York (collectively,
the &ldquo;<I>Specified Courts</I>&rdquo;), and each party irrevocably submits to the nonexclusive jurisdiction of such courts in any
such suit, action or proceeding. Service of any process, summons, notice or document by mail (to the extent allowed under any applicable
statute or rule&nbsp;of court) to such party&rsquo;s address set forth above shall be effective service of process for any suit, action
or other proceeding brought in any such court. The Company, the Trustee and the Holders (by their acceptance of the Securities) each hereby
irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding in the Specified Courts
and irrevocably and unconditionally waive and agree not to plead or claim any such suit, action or other proceeding has been brought in
an inconvenient forum.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.11 <U>No Adverse Interpretation
of Other Agreements</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">This Indenture may not be used to interpret another
indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be
used to interpret this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.12 <U>Successors</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">All agreements of the Company in this Indenture
and the Securities shall bind its successor. All agreements of the Trustee in this Indenture shall bind its successor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.13 <U>Severability</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">In case any provision in this Indenture or in
the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall
not in any way be affected or impaired thereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.14 <U>Table of Contents, Headings,
Etc</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">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 hereof, and shall in no way modify or restrict any of the terms or provisions hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.15 <U>Securities in a Foreign Currency</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Unless otherwise specified in a Board Resolution,
a supplemental indenture hereto or an Officer&rsquo;s Certificate delivered pursuant to Section&nbsp;2.2 of this Indenture with respect
to a particular Series&nbsp;of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified
percentage in aggregate principal amount of Securities of all Series&nbsp;or all Series&nbsp;affected by a particular action at the time
outstanding and, at such time, there are outstanding Securities of any Series&nbsp;which are denominated in more than one currency, then
the principal amount of Securities of such Series&nbsp;which shall be deemed to be outstanding for the purpose of taking such action shall
be determined by converting any such other currency into a currency that is designated upon issuance of any particular Series&nbsp;of
Securities. Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officer&rsquo;s Certificate delivered
pursuant to Section&nbsp;2.2 of this Indenture with respect to a particular Series&nbsp;of Securities, such conversion shall be at the
spot rate for the purchase of the designated currency as published in The Financial Times in the &ldquo;Currency Rates&rdquo; section
(or, if The Financial Times is no longer published, or if such information is no longer available in The Financial Times, such source
as may be selected in good faith by the Company) on any date of determination. The provisions of this paragraph shall apply in determining
the equivalent principal amount in respect of Securities of a Series&nbsp;denominated in currency other than Dollars in connection with
any action taken by Holders of Securities pursuant to the terms of this Indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">All decisions and determinations provided for
in the preceding paragraph shall, in the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and
irrevocably binding upon the Trustee and all Holders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.16 <U>Judgment Currency</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company agrees, to the fullest extent that
it may effectively do so under applicable law, that (a)&nbsp;if for the purpose of obtaining judgment in any court it is necessary to
convert the sum due in respect of the principal of or interest or other amount on the Securities of any Series&nbsp;(the &ldquo;<I>Required
Currency</I>&rdquo;) into a currency in which a judgment will be rendered (the &ldquo;<I>Judgment Currency</I>&rdquo;), the rate of exchange
used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required
Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking
Day, then the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase
in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final
unappealable judgment is entered and (b)&nbsp;its obligations under this Indenture to make payments in the Required Currency (i)&nbsp;shall
not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance with subsection
(a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt,
by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii)&nbsp;shall be enforceable
as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such
actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable, and (iii)&nbsp;shall not be affected
by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, &ldquo;<I>New York Banking Day</I>&rdquo;
means any day except a Saturday, Sunday or a Legal Holiday in The City of New York on which banking institutions are authorized or required
by law, regulation or executive order to close.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;10.17 <U>Force Majeure</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">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, any act or provision of any present or future law or regulation or governmental authority;
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 the unavailability
of the Federal Reserve Bank wire or telex or other wire or communication facility, it being understood that the Trustee shall use reasonable
best efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the
circumstances.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Section&nbsp;10.18. <U>U.S.A. Patriot Act.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The parties hereto acknowledge that in accordance
with Section&nbsp;326 of the U.S.A. Patriot Act, the Trustee is required to obtain, verify, and record information that identifies each
person or legal entity that establishes a relationship or opens an account with the Trustee. The parties to this Indenture agree that
they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A.
Patriot Act.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;11.1 <U>Applicability of Article</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The provisions of this Article&nbsp;shall be applicable
to any sinking fund for the retirement of the Securities of a Series&nbsp;if so provided by the terms of such Securities pursuant to Section&nbsp;2.2
and except as otherwise permitted or required by any form of Security of such Series&nbsp;issued pursuant to this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The minimum amount of any sinking fund payment
provided for by the terms of the Securities of any Series&nbsp;is herein referred to as a &ldquo;<I>mandatory sinking fund payment</I>&rdquo;
and any other amount provided for by the terms of Securities of such Series&nbsp;is herein referred to as an &ldquo;<I>optional sinking
fund payment</I>.&rdquo; If provided for by the terms of Securities of any Series, the cash amount of any sinking fund payment may be
subject to reduction as provided in Section&nbsp;11.2. Each sinking fund payment shall be applied to the redemption of Securities of any
Series&nbsp;as provided for by the terms of the Securities of such Series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;11.2 <U>Satisfaction of Sinking Fund
Payments with Securities</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">The Company may, in satisfaction of all or any
part of any sinking fund payment with respect to the Securities of any Series&nbsp;to be made pursuant to the terms of such Securities
(1)&nbsp;deliver outstanding Securities of such Series&nbsp;to which such sinking fund payment is applicable (other than any of such Securities
previously called for mandatory sinking fund redemption) and (2)&nbsp;apply as credit Securities of such Series&nbsp;to which such sinking
fund payment is applicable and which have been repurchased by the Company or redeemed either at the election of the Company pursuant to
the terms of such Series&nbsp;of Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional
sinking fund payments or other optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been
previously so credited. Such Securities shall be received by the Trustee, together with an Officer&rsquo;s Certificate with respect thereto,
not later than 15 days prior to the date on which the Trustee begins the process of selecting Securities for redemption, and shall be
credited for such purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund
and the amount of such sinking fund payment shall be reduced accordingly. If as a result of the delivery or credit of Securities in lieu
of cash payments pursuant to this Section&nbsp;11.2, the principal amount of Securities of such Series&nbsp;to be redeemed in order to
exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such Series&nbsp;for redemption,
except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent
and applied to the next succeeding sinking fund payment, <U>provided</U>, <U>however</U>, that the Trustee or such Paying Agent shall
from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Trustee or
such Paying Agent upon delivery by the Company to the Trustee of Securities of that Series&nbsp;purchased by the Company having an unpaid
principal amount equal to the cash payment required to be released to the Company.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;11.3 <U>Redemption of Securities for
Sinking Fund</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Not less than 45 days (unless otherwise indicated
in the Board Resolution, supplemental indenture hereto or Officer&rsquo;s Certificate in respect of a particular Series&nbsp;of Securities)
prior to each sinking fund payment date for any Series&nbsp;of Securities, the Company will deliver to the Trustee an Officer&rsquo;s
Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that Series&nbsp;pursuant to the terms of that
Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied
by delivering and crediting of Securities of that Series&nbsp;pursuant to Section&nbsp;11.2, and the optional amount, if any, to be added
in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon be obligated to pay the amount therein specified.
Not less than 30 days (unless otherwise indicated in the Board Resolution, Officer&rsquo;s Certificate or supplemental indenture in respect
of a particular Series&nbsp;of Securities) before each such sinking fund payment date the Securities to be redeemed upon such sinking
fund payment date will be selected in the manner specified in Section&nbsp;3.2 and the Company shall send or cause to be sent a notice
of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in and in accordance with
Section&nbsp;3.3. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 3.4, 3.5 and 3.6.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">IN WITNESS WHEREOF, the parties hereto have caused
this Indenture to be duly executed as of the day and year first above written.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">FUELCELL ENERGY,&nbsp;INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-size: 10pt">/s/ Michael S. Bishop</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Michael S. Bishop</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Its: Executive Vice President,  Chief Financial
Officer and Treasurer</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">WILMINGTON TRUST, NATIONAL ASSOCIATION</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">as Trustee</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Latoya S. Elvin</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Latoya S. Elvin</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Its: Vice President</FONT></TD></TR>
  </TABLE>


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

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<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>tm2513286d2_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 69%">
    <IMG SRC="tm2513286d2_ex5-1img001.jpg" ALT=""><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P></TD>
    <TD STYLE="width: 31%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>ATTORNEYS AT LAW</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">100 NORTH TAMPA STREET,
    SUITE 2700<BR>
    TAMPA, FL 33602-5810<BR>
    P.O.&nbsp;BOX 3391<BR>
    TAMPA, FL 33601-3391</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">813.229.2300 TEL</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">813.221.4210 FAX</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">www.foley.com</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CLIENT/MATTER NUMBER</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">106876-0129</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">April&nbsp;29, 2025</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">3 Great Pasture Road</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Danbury, Connecticut 06810 &nbsp;</P>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We have acted as counsel to
FuelCell Energy,&nbsp;Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), in connection with a Registration Statement on
Form&#8239;S-3 (the &ldquo;<U>Registration Statement</U>&rdquo;) filed by the Company with the Securities and Exchange Commission (the
 &ldquo;<U>Commission</U>&rdquo;) under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;), on the date hereof,
including the prospectus constituting a part thereof (the &ldquo;<U>Prospectus</U>&rdquo;), relating to the potential issuance and sale
by the Company from time to time of up to $200,000,000 aggregate amount of any of the following: (i)&nbsp;shares of the Company&rsquo;s
common stock, $0.0001 par value (the &ldquo;<U>Common Stock</U>&rdquo;); (ii)&nbsp;shares of the Company&rsquo;s preferred stock, $0.01
par value (the &ldquo;<U>Preferred Stock</U>&rdquo;); (iii)&nbsp;debt securities of the Company (the &ldquo;<U>Debt Securities</U>&rdquo;);
(iv)&nbsp;warrants to purchase Common Stock, Preferred Stock, Debt Securities, Units (as hereinafter defined) or other securities of the
Company (the &ldquo;<U>Warrants</U>&rdquo;); and (v)&nbsp;units consisting of one or more shares of Common Stock, shares of Preferred
Stock, Debt Securities, or Warrants or any combination of the foregoing (the &ldquo;<U>Units</U>&rdquo;). The Common Stock, the Preferred
Stock, the Debt Securities, the Warrants and the Units are referred to herein collectively as the &ldquo;<U>Securities</U>&rdquo;. The
Prospectus provides that it will be supplemented in the future by one or more supplements to such Prospectus and/or other offering material
in connection with the Company&rsquo;s specific proposed offering of any of such Securities (each, a &ldquo;<U>Prospectus Supplement</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">In connection with our representation,
we have examined: (i)&nbsp;the Registration Statement and the Prospectus, (ii)&nbsp;the Certificate of Incorporation of the Company, as
amended as of the date hereof, (iii)&nbsp;the Third Amended and Restated By-laws of the Company, (iv)&nbsp;the Indenture filed as Exhibit&nbsp;4.23
to the Registration Statement (the &ldquo;<U>Indenture</U>&rdquo;) and (v)&nbsp;the proceedings and actions taken by the Board of Directors
of the Company to authorize and approve the Registration Statement (the &ldquo;<U>Board Resolutions</U>&rdquo;). We have also considered
such matters of law and of fact, including the examination of originals or copies, certified or otherwise identified to our satisfaction,
of such records and documents of the Company, certificates of officers, directors and representatives of the Company, certificates of
public officials, and such other documents as we have deemed appropriate as a basis for the opinions set forth below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">In our examination of the above-referenced
documents, we have assumed all electronic and manual signatures on all documents reviewed by us (including, without limitation, signatures
delivered via electronic signature systems such as DocuSign, SecureDocs, or comparable electronic signature methods or systems) are genuine
signatures of the purported signatories, the authenticity of all documents, certificates and instruments submitted to us as originals
and the conformity with the originals of all documents, certificates and instruments submitted to us as copies. We have also assumed that
(i)&nbsp;the Registration Statement, and any amendments thereto (including post-effective amendments), will have become effective and
will comply with all applicable laws; (ii)&nbsp;a Prospectus Supplement, if required, will have been prepared and filed with the Commission
describing the Securities offered thereby; (iii)&nbsp;all Securities will be issued and sold in compliance with applicable federal and
state securities laws and in the manner stated in the Registration Statement and any applicable Prospectus Supplement; (iv)&nbsp;a definitive
purchase, underwriting, placement, dealer or similar agreement with respect to any Securities offered will have been duly authorized and
validly executed and delivered by the Company and the other parties thereto; (v)&nbsp;any Securities issuable upon conversion, exchange
or exercise of any Security being offered will have been duly authorized, created and, if appropriate, reserved for issuance upon such
conversion, exchange or exercise; and (vi)&nbsp;with respect to shares of Common Stock or Preferred Stock offered, there will be sufficient
shares of Common Stock or Preferred Stock authorized under the Company&rsquo;s Certificate of Incorporation, and not otherwise reserved
for issuance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">AUSTIN | BOSTON | BRUSSELS | CHICAGO |
DALLAS | DENVER | DETROIT | HOUSTON | JACKSONVILLE | LOS ANGELES MADISON | MEXICO CITY | MIAMI | MILWAUKEE | NEW YORK | ORLANDO |
RALEIGH | SACRAMENTO | SALT LAKE CITY SAN DIEGO | SAN FRANCISCO | SILICON VALLEY | TALLAHASSEE | TAMPA | TOKYO | WASHINGTON,
D.C.</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Based upon and subject to the
foregoing and the other matters set forth herein, and having regard for such legal considerations as we deem relevant, we are of the opinion
that:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">All requisite actions necessary to make the shares of Common Stock subsequently offered by the Company
under the Registration Statement validly issued, fully paid and non-assessable shall have been taken when:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">The Company&rsquo;s Board of Directors, or a committee thereof duly authorized by the Board of Directors,
has adopted appropriate resolutions to authorize the issuance and sale of the Common Stock; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">Such shares of Common Stock have been issued and sold by the Company for the consideration contemplated
by, and otherwise in conformity with, the Registration Statement, as supplemented by a Prospectus Supplement with respect to such issuance
and sale, and the acts, proceedings and documents referred to above.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">All requisite actions necessary to make the shares of Preferred Stock subsequently offered by the Company
under the Registration Statement validly issued, fully paid and non-assessable shall have been taken when:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">The Company&rsquo;s Board of Directors, or a committee thereof duly authorized by the Board of Directors,
has adopted appropriate resolutions to establish the voting powers, designations, preferences and relative, participating, optional or
other special rights, if any, or the qualifications, limitations or restrictions, if any, and other terms of such shares of Preferred
Stock as set forth in or contemplated by the Registration Statement, the exhibits thereto and any Prospectus Supplement relating to such
Preferred Stock, and to authorize the issuance and sale of such shares of Preferred Stock;</TD></TR></TABLE>

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

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

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    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">A Certificate of Amendment to the Company&rsquo;s Certificate of Incorporation or a Certificate of Designation
with respect to any such established voting powers, designations, preferences and relative, participating, optional or other special rights,
if any, or the qualifications, limitations or restrictions, if any, and other terms of such shares of Preferred Stock has been filed with
the Delaware Secretary of State in the form and manner required by law; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">Such shares of Preferred Stock have been issued and sold by the Company for the consideration contemplated
by, and otherwise in conformity with, the Registration Statement, as supplemented by a Prospectus Supplement with respect to such issuance
and sale, and the acts, proceedings and documents referred to above.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">All requisite actions necessary to make the Debt Securities subsequently offered by the Company under
the Registration Statement valid, legal and binding obligations of the Company, subject to (i)&nbsp;bankruptcy, insolvency, reorganization,
fraudulent transfer, fraudulent conveyance, moratorium and other similar laws of general application affecting the rights and remedies
of creditors, and (ii)&nbsp;general principles of equity, regardless of whether applied in a proceeding in equity or at law, shall have
been taken when:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">The Company&rsquo;s Board of Directors, or a committee thereof or one or more officers of the Company,
in each case duly authorized by the Board of Directors, has taken action to establish the terms of such Debt Securities and to authorize
the issuance and sale of such Debt Securities;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">The terms of such Debt Securities and of their issuance and sale by the Company have been established
in conformity with the underlying Indenture so as not to violate any applicable law or result in a default under or breach of any agreement
or instrument binding upon the Company and so as to comply with any requirements or restrictions imposed by any court or governmental
entity having jurisdiction over the Company;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">Such Debt Securities have been duly executed, authenticated and delivered in accordance with the terms
and provisions of the underlying Indenture; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">Such Debt Securities have been issued and sold by the Company for the consideration contemplated by, and
otherwise in conformity with, the Registration Statement, as supplemented by a Prospectus Supplement with respect to such issuance and
sale, and the acts, proceedings and documents referred to above.</TD></TR></TABLE>

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

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

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    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">All requisite actions necessary to make the Warrants subsequently offered by the Company under the Registration
Statement valid, legal and binding obligations of the Company, subject to (i)&nbsp;bankruptcy, insolvency, reorganization, fraudulent
transfer, fraudulent conveyance, moratorium and other similar laws of general application affecting the rights and remedies of creditors,
and (ii)&nbsp;general principles of equity, regardless of whether applied in a proceeding in equity or at law, shall have been taken when:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">The Company&rsquo;s Board of Directors, or a committee thereof or one or more officers of the Company,
in each case duly authorized by the Board of Directors, has taken action to approve and establish the terms and form of the Warrants and
the documents, including any warrant agreements, evidencing and used in connection with the issuance and sale of the Warrants, and to
authorize the issuance and sale of such Warrants;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">The terms of such Warrants and of their issuance and sale by the Company have been established so as not
to violate any applicable law or result in a default under or breach of any agreement or instrument binding upon the Company and so as
to comply with any requirements or restrictions imposed by any court or governmental entity having jurisdiction over the Company;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">All applicable warrant agreements have been duly executed and delivered;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">Such Warrants have been duly executed and delivered in accordance with the terms and provisions of any
applicable warrant agreement; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: justify">Such Warrants have been issued and sold by the Company for the consideration contemplated by, and otherwise
in conformity with, the Registration Statement, as supplemented by a Prospectus Supplement with respect to such issuance and sale, and
the acts, proceedings and documents referred to above.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">All requisite actions necessary to make the Units subsequently offered by the Company under the Registration
Statement valid, legal and binding obligations of the Company, subject to (i)&nbsp;bankruptcy, insolvency, reorganization, fraudulent
transfer, fraudulent conveyance, moratorium and other similar laws of general application affecting the rights and remedies of creditors,
and (ii)&nbsp;general principles of equity, regardless of whether applied in a proceeding in equity or at law, shall have been taken when:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">The Company&rsquo;s Board of Directors, or a committee thereof or one or more officers of the Company,
in each case duly authorized by the Board of Directors, has taken action to approve and establish the terms and form of the Units, including
any agreements, evidencing and used in connection with the issuance and sale of such Units, and to authorize the issuance and sale of
such Units;</TD></TR></TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2513286d2_ex5-1img001.jpg" ALT=""></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April&nbsp;29, 2025</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">The terms of such Units and of their issuance and sale have been established so as not to violate any
applicable law or result in a default under or breach of any agreement or instrument binding upon the Company and so as to comply with
any requirements or restrictions imposed by any court or governmental entity having jurisdiction over the Company;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">All documents evidencing such Units have been duly executed and delivered in accordance with their respective
terms and provisions, as applicable; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">Such Units have been sold by the Company for the consideration contemplated by, and otherwise in conformity
with, the Registration Statement, as supplemented by a Prospectus Supplement with respect to such issuance and sale, and the acts, proceedings
and documents referred to above.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We render no opinion as to the
effect of the laws of any state or jurisdiction other than the laws of the State of New York, the corporate law of the State of Delaware
and the federal laws of the United States. We assume no obligation to supplement this opinion letter if any applicable law changes after
the date hereof or if we become aware of any fact that might change the opinions expressed herein after the date hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We hereby consent to the filing
of this letter as an exhibit to the Registration Statement and to the reference to our firm under the caption &ldquo;Legal Matters&rdquo;
in the Prospectus that is a part of the Registration Statement. In giving this consent, we do not thereby admit that we are &ldquo;experts&rdquo;
within the meaning of Section&nbsp;11 of the Securities Act or within the category of persons whose consent is required by Section&nbsp;7
of the Securities Act.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Foley&nbsp;&amp; Lardner LLP</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Foley&nbsp;&amp; Lardner LLP</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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    <!-- Field: /Page -->

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

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>tm2513286d2_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 23.2</B></P>

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

<P STYLE="margin: 0"><IMG SRC="tm2513286d2_ex23-2img001.jpg" ALT=""></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 75%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">KPMG LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Suite&nbsp;4000</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">1735 Market Street</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Philadelphia, PA 19103-7501</FONT></TD></TR>
  </TABLE>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the use of our report dated December&nbsp;27, 2024, with
respect to the consolidated financial statements of FuelCell Energy,&nbsp;Inc. and subsidiaries, and the effectiveness of internal control
over financial reporting, incorporated herein by reference, and to the reference to our firm under the heading &quot;Experts&quot; in
the prospectus.</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2513286d2_ex23-2img002.jpg" ALT=""></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April&nbsp;29, 2025</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 29%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 42%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">KPMG LLP, a Delaware limited liability
    partnership and a member firm of<BR> the KPMG global organization of independent member firms affiliated with<BR> KPMG International
    Limited, a private English company limited by guarantee.</FONT></TD>
    <TD STYLE="width: 29%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  </TABLE>


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

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

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    <!-- Field: /Page -->

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

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-25.1
<SEQUENCE>5
<FILENAME>tm2513286d2_ex25-1.htm
<DESCRIPTION>EXHIBIT 25.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 25.1</B></P>

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&#8239;Check if an Application to Determine Eligibility
of a Trustee Pursuant to Section&nbsp;305(b)(2)</P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Wilmington, DE 19890-0001</B></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>285 Delaware Ave.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Buffalo, NY 14202</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(716) 839-6909</B></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Exact name of obligor as specified in its charter)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>06-0853042</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of incorporation or organization)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>3 Great Pasture Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Danbury, Connecticut
06810</B></P>

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

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

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

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

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>ITEM&#8239;1.</B><TD STYLE="text-align: justify"><B>GENERAL INFORMATION.</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Furnish the following information as to the trustee:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 24pt">(a)</TD><TD>Name and address of each examining or supervising authority to which it is subject.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                                                              <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Comptroller of Currency, Washington, D.C.</TD></TR>
                                                                                                                                                              <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Federal Deposit Insurance Corporation, Washington, D.C.</TD></TR>
                                                                                                                                                              </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 24pt">(b)</TD><TD>Whether it is authorized to exercise corporate trust powers.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>The trustee is authorized to exercise
corporate trust powers.</TD></TR>
                                                                                                                                       </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="font-size: 10pt"><B>ITEM 2.</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B>AFFILIATIONS WITH THE OBLIGOR.</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">If the obligor is an affiliate of the trustee,
describe each affiliation:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Based upon an examination of the books and records of the
trustee and information available to the trustee, the obligor is not an affiliate of the trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 3 &ndash; 15. </B>Not applicable.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 48pt"><B>ITEM 16.</B></TD><TD><B>LIST OF EXHIBITS.</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in">Listed below are all exhibits filed
as part of this Statement of Eligibility and Qualification.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 16.5pt">1.</TD><TD>A copy of the Charter for Wilmington Trust, National Association.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 16.5pt">2.</TD><TD>The authority of Wilmington Trust, National Association to commence business was granted under the Charter for Wilmington Trust, National
Association, incorporated herein by reference to Exhibit&nbsp;1 above.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 16.5pt">3.</TD><TD>The authorization to exercise corporate trust powers was granted under the Charter for Wilmington Trust, National Association, incorporated
herein by reference to Exhibit&nbsp;1 above.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 16.5pt">4.</TD><TD>A copy of the existing By-Laws of Trustee, as now in effect, incorporated herein by reference to Exhibit&nbsp;4 of this Form&nbsp;T-1.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 16.5pt">5.</TD><TD>Not applicable.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 16.5pt">6.</TD><TD>The consent of Wilmington Trust, National Association as required by Section&nbsp;321(b)&nbsp;of the Trust Indenture Act of 1939,
attached hereto as Exhibit&nbsp;6 of this Form&nbsp;T-1.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 16.5pt">7.</TD><TD>Current Report of the Condition of Wilmington Trust, National Association, published pursuant to law or the requirements of its supervising
or examining authority, attached hereto as Exhibit&nbsp;7 of this Form&nbsp;T-1.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 16.5pt">8.</TD><TD>Not applicable.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 16.5pt">9.</TD><TD>Not applicable.</TD></TR></TABLE>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Trust Indenture Act of 1939, as
amended, the trustee, Wilmington Trust, National Association, a national banking association organized and existing under the laws of
the United States of America, has duly caused this Statement of Eligibility to be signed on its behalf by the undersigned, thereunto duly
authorized, all in the City of Iselin and State of New Jersey on the 29th day of April, 2025.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">WILMINGTON TRUST, NATIONAL ASSOCIATION</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-size: 10pt">/s/ Latoya S. Elvin</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Latoya S. Elvin</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Vice President</FONT></TD></TR>
  </TABLE>


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">FIRST.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
title of this association shall be Wilmington Trust, National Association.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SECOND.&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The main office of the
association shall be in the City of Wilmington, County of New Castle, State of Delaware. The general business of the association shall
be conducted at its main office and its branches.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">THIRD.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The board of directors
of this association shall consist of not less than five nor more than twenty-five persons, unless the OCC has exempted the bank from
the 25-member limit. The exact number is to be fixed and determined from time to time by resolution of a majority of the full board of
directors or by resolution of a majority of the shareholders at any annual or special meeting thereof. Each director shall own common
or preferred stock of the association or of a holding company owning the association, with an aggregate par, fair market or equity value
$1,000. Determination of these values may be based as of either (i)&nbsp;the date of purchase or (ii)&nbsp;the date the person became
a director, whichever value is greater. Any combination of common or preferred stock of the association or holding company may be used.</P>

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">FOURTH.&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>There shall be an annual
meeting of the shareholders to elect directors and transact whatever other business may be brought before the meeting. It shall be held
at the main office or any other convenient place the board of directors may designate, on the day of each year specified therefor in
the bylaws, or, if that day falls on a legal holiday in the state in which the association is located, on the next following banking
day. If no election is held on the day fixed, or in the event of a legal holiday on the following banking day, an election may be held
on any subsequent day within 60 days of the day fixed, to be designated by the board of directors, or, if the directors fail to fix the
day, by shareholders representing two-thirds of the shares issued and outstanding. In all cases at least 10 days advance notice of the
time, place and purpose of a shareholders&rsquo; meeting shall be given to the shareholders by first class mail, unless the OCC determines
that an emergency circumstance exists. The sole shareholder of the bank is permitted to waive notice of the shareholders&rsquo; meeting.</P>

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

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

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD>The name and address of each proposed nominee.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD>The principal occupation of each proposed nominee.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3)</TD><TD>The total number of shares of capital stock of the association that will be voted for each proposed nominee.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4)</TD><TD>The name and residence address of the notifying shareholder.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5)</TD><TD>The number of shares of capital stock of the association owned by the notifying shareholder.</TD></TR></TABLE>

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">FIFTH.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
authorized amount of capital stock of this association shall be ten thousand shares of common stock of the par value of one hundred dollars
($100) each; but said capital stock may be increased or decreased from time to time, according to the provisions of the laws of the United
States.</FONT></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SIXTH.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The board of directors
shall appoint one of its members president of this association, and one of its members chairperson of the board and shall have the power
to appoint one or more vice presidents, a secretary who shall keep minutes of the directors' and shareholders' meetings and be responsible
for authenticating the records of the association, and such other officers and employees as may be required to transact the business
of this association.</P>

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD>Define the duties of the officers, employees, and agents of the association.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD>Delegate the performance of its duties, but not the responsibility for its duties, to the officers, employees, and agents of the association.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3)</TD><TD>Fix the compensation and enter into employment contracts with its officers and employees upon reasonable terms and conditions consistent
with applicable law.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4)</TD><TD>Dismiss officers and employees.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5)</TD><TD>Require bonds from officers and employees and to fix the penalty thereof.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6)</TD><TD>Ratify written policies authorized by the association's management or committees of the board.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7)</TD><TD>Regulate the manner in which any increase or decrease of the capital of the association shall be made, provided that nothing herein
shall restrict the power of shareholders to increase or decrease the capital of the association in accordance with law, and nothing shall
raise or lower from two-thirds the percentage required for shareholder approval to increase or reduce the capital.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">8)</TD><TD>Manage and administer the business and affairs of the association.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">9)</TD><TD>Adopt initial bylaws, not inconsistent with law or the articles of association, for managing the business and regulating the affairs
of the association.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">10)</TD><TD>Amend or repeal bylaws, except to the extent that the articles of association reserve this power in whole or in part to shareholders.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">11)</TD><TD>Make contracts.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">12)</TD><TD>Generally perform all acts that are legal for a board of directors to perform.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SEVENTH.&#8239;&#8239;&#8239;&#8239;</FONT>The board of directors
shall have the power to change the location of the main office to any other place within the limits of Wilmington, Delaware, without
the approval of the shareholders, or with a vote of shareholders owning two-thirds of the stock of such association for a relocation
outside such limits and upon receipt of a certificate of approval from the Comptroller of the Currency, to any other location within
or outside the limits of Wilmington Delaware, but not more than 30 miles beyond such limits. The board of directors shall have the power
to establish or change the location of any branch or branches of the association to any other location permitted under applicable law,
without approval of shareholders, subject to approval by the Comptroller of the Currency.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">EIGHTH.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The corporate existence
of this association shall continue until termination according to the laws of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">NINTH.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The board of directors
of this association, or any one or more shareholders owning, in the aggregate, not less than 50 percent of the stock of this association,
may call a special meeting of shareholders at any time. Unless otherwise provided by the bylaws or the laws of the United States, a notice
of the time, place, and purpose of every annual and special meeting of the shareholders shall be given at least 10 days prior to the
meeting by first-class mail, unless the OCC determines that an emergency circumstance exists. If the association is a wholly-owned subsidiary,
the sole shareholder may waive notice of the shareholders&rsquo; meeting. Unless otherwise provided by the bylaws or these articles,
any action requiring approval of shareholders must be effected at a duly called annual or special meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">TENTH.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>For purposes of this Article&nbsp;Tenth,
the term &ldquo;institution-affiliated party&rdquo; shall mean any institution-affiliated party of the association as such term is defined
in 12 U.S.C. 1813(u).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any institution-affiliated party (or his or her
heirs, executors or administrators) may be indemnified or reimbursed by the association for reasonable expenses actually incurred in connection
with any threatened, pending or completed actions or proceedings and appeals therein, whether civil, criminal, governmental, administrative
or investigative, in accordance with and to the fullest extent permitted by law, as such law now or hereafter exists; provided, however,
that when an administrative proceeding or action instituted by a federal banking agency results in a final order or settlement pursuant
to which such person: (i)&nbsp;is assessed a civil money penalty, (ii)&nbsp;is removed from office or prohibited from participating in
the conduct of the affairs of the association, or (iii)&nbsp;is required to cease and desist from or to take any affirmative action described
in 12 U.S.C. 1818(b)&nbsp;with respect to the association, then the association shall require the repayment of all legal fees and expenses
advanced pursuant to the next succeeding paragraph and may not indemnify such institution-affiliated parties (or their heirs, executors
or administrators) for expenses, including expenses for legal fees, penalties or other payments incurred. The association shall provide
indemnification in connection with an action or proceeding (or part thereof) initiated by an institution-affiliated party (or by his or
her heirs, executors or administrators) only if such action or proceeding (or part thereof) was authorized by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Expenses incurred by an institution-affiliated
party (or by his or her heirs, executors or administrators) in connection with any action or proceeding under 12 U.S.C. 164 or 1818 may
be paid by the association in advance of the final disposition of such action or proceeding upon (a)&nbsp;a determination by the board
of directors acting by a quorum consisting of directors who are not parties to such action or proceeding that the institution-affiliated
party (or his or her heirs, executors or administrators) has a reasonable basis for prevailing on the merits, (b)&nbsp;a determination
that the indemnified individual (or his or her heirs, executors or administrators) will have the financial capacity to reimburse the bank
in the event he or she does not prevail, (c)&nbsp;a determination that the payment of expenses and fees by the association will not adversely
affect the safety and soundness of the association, and (d)&nbsp;receipt of an undertaking by or on behalf of such institution-affiliated
party (or by his or her heirs, executors or administrators) to repay such advancement in the event of a final order or settlement pursuant
to which such person: (i)&nbsp;is assessed a civil money penalty, (ii)&nbsp;is removed from office or prohibited from participating in
the conduct of the affairs of the association, or (iii)&nbsp;is required to cease and desist from or to take any affirmative action described
in 12 U.S.C. 1818(b)&nbsp;with respect to the association. In all other instances, expenses incurred by an institution-affiliated party
(or by his or her heirs, executors or administrators) in connection with any action or proceeding as to which indemnification may be given
under these articles of association may be paid by the association in advance of the final disposition of such action or proceeding upon
(a)&nbsp;receipt of an undertaking by or on behalf of such institution-affiliated party (or by or on behalf of his or her heirs, executors
or administrators) to repay such advancement in the event that such institution-affiliated party (or his or her heirs, executors or administrators)
is ultimately found not to be entitled to indemnification as authorized by these articles of association and (b)&nbsp;approval by the
board of directors acting by a quorum consisting of directors who are not parties to such action or proceeding or, if such a quorum is
not obtainable, then approval by stockholders. To the extent permitted by law, the board of directors or, if applicable, the stockholders,
shall not be required to find that the institution-affiliated party has met the applicable standard of conduct provided by law for indemnification
in connection with such action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that a majority of the members of
the board of directors are named as respondents in an administrative proceeding or civil action and request indemnification, the remaining
members of the board may authorize independent legal counsel to review the indemnification request and provide the remaining members of
the board with a written opinion of counsel as to whether the conditions delineated in the first four paragraphs of this Article&nbsp;Tenth
have been met. If independent legal counsel opines that said conditions have been met, the remaining members of the board of directors
may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that all of the members of the board
of directors are named as respondents in an administrative proceeding or civil action and request indemnification, the board shall authorize
independent legal counsel to review the indemnification request and provide the board with a written opinion of counsel as to whether
the conditions delineated in the first four paragraphs of this Article&nbsp;Tenth have been met. If legal counsel opines that said conditions
have been met, the board of directors may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To the extent permitted under applicable law, the
rights of indemnification and to the advancement of expenses provided in these articles of association (a)&nbsp;shall be available with
respect to events occurring prior to the adoption of these articles of association, (b)&nbsp;shall continue to exist after any restrictive
amendment of these articles of association with respect to events occurring prior to such amendment, (c)&nbsp;may be interpreted on the
basis of applicable law in effect at the time of the occurrence of the event or events giving rise to the action or proceeding, or on
the basis of applicable law in effect at the time such rights are claimed, and (d)&nbsp;are in the nature of contract rights which may
be enforced in any court of competent jurisdiction as if the association and the institution-affiliated party (or his or her heirs, executors
or administrators) for whom such rights are sought were parties to a separate written agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The rights of indemnification and to the advancement
of expenses provided in these articles of association shall not, to the extent permitted under applicable law, be deemed exclusive of
any other rights to which any such institution affiliated party (or his or her heirs, executors or administrators) may now or hereafter
be otherwise entitled whether contained in these articles of association, the bylaws, a resolution of stockholders, a resolution of the
board of directors, or an agreement providing such indemnification, the creation of such other rights being hereby expressly authorized.
Without limiting the generality of the foregoing, the rights of indemnification and to the advancement of expenses provided in these articles
of association shall not be deemed exclusive of any rights, pursuant to statute or otherwise, of any such institution-affiliated party
(or of his or her heirs, executors or administrators) in any such action or proceeding to have assessed or allowed in his or her favor,
against the association or otherwise, his or her costs and expenses incurred therein or in connection therewith or any part thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this Article&nbsp;Tenth or any part hereof shall
be held unenforceable in any respect by a court of competent jurisdiction, it shall be deemed modified to the minimum extent necessary
to make it enforceable, and the remainder of this Article&nbsp;Tenth shall remain fully enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The association may, upon affirmative vote of a
majority of its board of directors, purchase insurance to indemnify its institution-affiliated parties to the extent that such indemnification
is allowed in these articles of association; provided, however, that no such insurance shall include coverage to pay or reimburse any
institution-affiliated party for the cost of any judgment or civil money penalty assessed against such person in an administrative proceeding
or civil action commenced by any federal banking agency. Such insurance may, but need not, be for the benefit of all institution-affiliated
parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">ELEVENTH.&#8239;&#8239;</FONT>These articles of association
may be amended at any regular or special meeting of the shareholders by the affirmative vote of the holders of a majority of the stock
of this association, unless the vote of the holders of a greater amount of stock is required by law, and in that case by the vote of
the holders of such greater amount. The association's board of directors may propose one or more amendments to the articles of association
for submission to the shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BY-LAWS OF WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED AND RESTATED BYLAWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Effective as of March&nbsp;7, 2024)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED AND RESTATED BYLAWS OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Meetings of Shareholders</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;1. Annual Meeting</B>. The annual meeting of shareholders
shall be held on such date and at such time as may be designated by the chair of the Board of Directors, the chief executive officer,
the president, the chief operating officer, the secretary, or the Board of Directors for the purpose of the election of directors and
for the transaction of such other business as may properly come before the meeting, except such date shall not be a legal holiday in Delaware.
Notice of the meeting shall be mailed by first class mail, postage prepaid, at least 10 days and no more than 60 days prior to the date
thereof, addressed to each shareholder at his or her address appearing on the books of the association. If, for any cause, an election
of directors is not made on that date, an election may be held on any subsequent day within 60 days of the date fixed, to be designated
by the Board of Directors, or, if the directors fail to fix the date, by shareholders representing two-thirds of the shares. In these
circumstances, at least 10 days&rsquo; notice must be given by first class mail to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;2. Special Meetings</B>. The chair of the Board of
Directors, the president, the chief executive officer, the secretary, or the Board of Directors may call a special meeting of the shareholders.
A special meeting shall be called to act on any matter that may properly be considered at a meeting of shareholders upon the written request
of shareholders entitled to cast not less than a majority of all the votes entitled to be cast on such matter at the meeting. Every such
special meeting, unless otherwise provided by law, shall be called by mailing, postage prepaid, not less than 10 days nor more than 60
days prior to the date fixed for the meeting, to each shareholder at the address appearing on the books of the association a notice stating
the purpose of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Board of Directors may fix a record date for determining shareholders
entitled to notice and to vote at any meeting, in reasonable proximity to the date of giving notice to the shareholders of such meeting.
The record date for determining shareholders entitled to demand a special meeting is the date the first shareholder signs a demand for
the meeting describing the purpose or purposes for which it is to be held.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;3. Adjournment</B>. If an annual or special shareholders'
meeting is adjourned to a different date, time, or place, notice need not be given of the new date, time or place, if the new date, time
or place is announced at the meeting before adjournment, unless any additional items of business are to be considered, or the association
becomes aware of an intervening event materially affecting any matter to be voted on more than 10 days prior to the date to which the
meeting is adjourned. If a new record date for the adjourned meeting is fixed, however, notice of the adjourned meeting must be given
to persons who are shareholders as of the new record date. If, however, the meeting to elect the directors is adjourned before the election
takes place, at least ten days&rsquo; notice of the new election must be given to the shareholders by first-class mail.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;4. Nominations of Directors</B>. Nominations for election
to the Board of Directors may be made by the Board of Directors or by any shareholder of any outstanding class of capital stock of the
association entitled to vote for the election of directors. Nominations, other than those made by or on behalf of the existing management
of the association, shall be made in writing and shall be delivered or mailed to the president of the association, not less than 14 days
nor more than 50 days prior to any meeting of shareholders called for the election of directors; <I>provided, however, </I>that if less
than 21 days' notice of the meeting is given to shareholders, such nomination shall be mailed or delivered to the president of the association
not later than the close of business on the seventh day following the day on which the notice of meeting was mailed. Such notification
shall contain the following information to the extent known to the notifying shareholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>The name and address of each proposed nominee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>The principal occupation of each proposed nominee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>The total number of shares of capital stock of the association that will be voted for each proposed nominee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD>The name and residence of the notifying shareholder; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD>The number of shares of capital stock of the association owned by the notifying shareholder</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nominations not made in accordance herewith may, in his/her discretion,
be disregarded by the chair of the meeting, and upon his/her instructions, all votes cast for each such nominee may be disregarded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;5. Proxies</B>. Shareholders may vote at any meeting
of the shareholders by proxies duly authorized in writing, but no officer or employee of this association shall act as proxy. A director
or an attorney of the association may act as proxy for shareholders voting if they are not also employed as an officer of the association.
Proxies shall be valid only for one meeting, to be specified therein, and any adjournments of such meeting. Proxies shall be dated and
filed with the records of the meeting. Proxies with facsimile signatures may be used and unexecuted proxies may be counted upon receipt
of a written confirmation from the shareholder. Proxies meeting the above requirements submitted at any time during a meeting shall be
accepted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;6. Quorum</B>. A majority of the outstanding capital
stock, represented in person or by proxy, shall constitute a quorum at any meeting of shareholders, unless otherwise provided by law,
but less than a quorum may adjourn any meeting, from time to time, and the meeting may be held, as adjourned, without further notice.
A majority of the votes cast shall decide every question or matter submitted to the shareholders at any meeting, unless otherwise provided
by law or by the articles of association. If a meeting for the election of directors is not held on the fixed date, at least 10 days&rsquo;
notice must be given by first-class mail to the shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Directors</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;1. Board of Directors</B>. The Board of Directors shall
have the power to manage and administer the business and affairs of the association. Except as expressly limited by law, all corporate
powers of the association shall be vested in and may be exercised by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;2. Number</B>. The Board of Directors shall consist
of not less than five nor more than twenty-five members, unless the OCC has exempted the association from the 25-member limit. The exact
number within such minimum and maximum limits is to be fixed and determined from time to time by resolution of a majority of the full
Board of Directors or by resolution of a majority of the shareholders at any meeting thereof. The Board of Directors may not increase
the number of directors between meetings of shareholders to a number which: (a)&nbsp;exceeds by more than 2 the number of directors last
elected by shareholders where the number was 15 or less; or (b)&nbsp;exceeds by more than 4 the number of directors last elected by shareholders
where the number was 16 or more, but in no event shall the number of directors exceed 25, unless the OCC has exempted the association
from the 25-member limit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;3. Qualifications. </B>Each director must be a citizen
of the United States and must own in his or her own right either shares of the capital stock of the association or a company that controls
the association that has not less than an aggregate par value of $1,000, an aggregate shareholders&rsquo; equity of $1,000, or an aggregate
fair market value of $1,000. The value of the common or preferred stock held by a director is valued as of the date purchased or the date
on which the individual became a director, whichever is greater.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;4. Organization Meeting</B>.&#8239;After
each annual meeting of shareholders at which directors shall have been elected, the Board of Directors shall meet as soon as practicable
for the purpose of organization and the transaction of other business. Such first regular meeting shall be held at any place as may be
designated by the chair, the president or the Board of Directors for such first regular meeting or, in default of such designation, where
the immediately preceding meeting of shareholders was held.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;5. Regular Meetings</B>. Regular
meetings of the Board of Directors shall be held on such dates and at such places as may be designated from time to time by the chair.
No notice of regular meetings shall be necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;6. Special Meetings</B>. Special meetings of the Board
of Directors may be called at any time by the chair, the chief executive officer, the president or by a majority of the then- acting
directors by vote at a meeting or in writing, or by a majority of the members of the executive committee, if one is constituted, by vote
at a meeting or in writing. A special meeting of the Board of Directors shall be held on such date and at any place as may be designated
from time to time by the Board of Directors. In the absence of such designation, such meeting shall be held at such place as may be designated
in the call. Each member of the Board of Directors shall be given notice stating the date, time and place, by letter, electronic delivery
or in person, of each&#8239;special meeting not less than one day before the meeting. Such notice need not specify the purpose for which the
meeting is called, unless required by the Articles of Association or the bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;7. Quorum</B>. A majority of the entire Board then
in office shall constitute a quorum at any meeting, except when otherwise provided by law or these Bylaws, but a lesser number may adjourn
any meeting, from time to time, and the meeting may be held, as adjourned, without further notice. If the number of directors present
at the meeting is reduced below the number that would constitute a quorum, no business may be transacted, except selecting directors to
fill vacancies in conformance with Article&nbsp;II, Section&nbsp;11. If a quorum is present, the board of directors may take action through
the vote of a majority of the directors who are in attendance. No director may vote by proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;8. Attendance by Electronic, Telephonic or Similar
Means. </B>Any one or more members of the Board of Directors or any committee thereof may participate in a regular or special meeting
of such board or committee by, or conduct the meeting through the use of, <FONT STYLE="color: #333333">conference telephone or other communications
equipment </FONT>by which all directors or committee members participating may simultaneously hear each other during the meeting. Participation
in a meeting by these means constitutes presence in person at a meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;9. Procedures</B>. The order of business and all other
matters of procedure at every meeting of the Board of Directors may be determined by the person presiding at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;10. Removal of Directors</B>. Any director may be removed
for cause at any meeting of shareholders, notice of which shall have referred to the proposed action, by vote of the shareholders. Any
director may be removed without cause at any meeting of shareholders, notice of which shall have referred to the proposed action, by the
vote of the holders of a majority of the shares of the association entitled to vote. Any director may be removed for cause at any meeting
of the directors, notice of which shall have referred to the proposed action, by vote of a majority of the entire Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;11. Vacancies</B>. When any vacancy occurs among the
directors, a majority of the remaining members of the Board of Directors may appoint a director to fill such vacancy until the next election
at any regular meeting of the Board of Directors, or at a special meeting called for that purpose at which a quorum is present, or if
the directors remaining in office constitute fewer than a quorum of the Board of Directors, by the affirmative vote of a majority of all
the directors remaining in office, or by shareholders at a special meeting called for that purpose in conformance with Section&nbsp;2
of Article&nbsp;I. A vacancy that will occur at a specific later date (by reason of a resignation effective at a later date) may be filled
before the vacancy occurs but the new director may not take office until the vacancy occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;12. Consent of Directors without a Meeting</B>. Any
action required or permitted to be taken at any meeting of the Board of Directors may be taken without a meeting if the action is taken
by all members of the Board. The action may be evidenced by one or more written consents signed by each director before or after such
action, describing the action taken, and&#8239;included in the minutes or filed with the corporate records. A director&rsquo;s consent to action
taken without a meeting may be in electronic form and delivered by electronic means.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;13. Ratification</B>. The board of directors may ratify
and make binding on the association any action or inaction by the association or its officers to the extent that the Board of Directors
or the shareholders could have originally authorized the matter and as permitted by law. Moreover, any action or inaction questioned in
any shareholders&rsquo; derivative proceeding or any other proceeding on the ground of lack of authority, defective or irregular execution,
adverse interest of a director, officer or shareholder, non-disclosure, miscomputation, the application of improper principles or practices
of accounting or otherwise, may be ratified, before or after judgment, by the Board of Directors or by the shareholders, and if so ratified,
shall have the same force and effect as if the questioned action or inaction had been originally duly authorized, and such ratification
shall be binding upon the shareholders and shall constitute a bar to any claim or execution of any judgment in respect of such questioned
action or inaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;III</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Committees</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;1. Executive Committee</B>. The Board of Directors
may appoint an Executive Committee, which shall have and may exercise, during the intervals between meetings of the Board of Directors,
all the powers of the Board of Directors in the management of the business, properties and affairs of the association except as prohibited
by law, the Articles of Association or these Bylaws. All acts done and powers conferred by the Executive Committee shall be deemed to
be and may be certified as being, done or conferred under authority of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;2. Trust Audit Committee. </B>Unless delegated pursuant
to Section&nbsp;5 of this Article&nbsp;III, there shall be a Trust Audit Committee composed of not less than 2 directors, appointed by
the Board of Directors, which shall, at least once during each calendar year make suitable audits of the association&rsquo;s fiduciary
activities or cause suitable audits to be made by auditors responsible only to the Board, and at such time shall ascertain whether fiduciary
powers have been administered according to law, Part&nbsp;9 of the Regulations of the Comptroller of the Currency, and sound fiduciary
principles. Such committee: (1)&nbsp;must not include any officers of the association or an affiliate who participate significantly in
the administration of the association&rsquo;s fiduciary activities; and (2)&nbsp;must consist of a majority of members who are not also
members of any committee to which the Board of Directors has delegated power to manage and control the fiduciary activities of the bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;3. Examining Committee</B>. Unless delegated pursuant
to Section&nbsp;5 of this Article&nbsp;III, there shall be an examining committee composed of not less than 2 directors, exclusive of
any active officers, appointed by the board of directors annually or more often. The duty of that committee shall be to examine at least
once during each calendar year and within 15 months of the last examination the affairs of the association or cause suitable examinations
to be made by auditors responsible only to the board of directors and to report the result of such examination in writing to the board
of directors at the next regular meeting thereafter. Such&#8239;report shall state whether the association is in a sound condition, and
whether adequate internal controls and procedures are being maintained and shall recommend to the board of directors such changes in
the manner of conducting the affairs of the association as shall be deemed advisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;4. Other Committees</B>. The Board of Directors may
from time to time by resolution adopted by affirmative vote of a majority of the Board of Directors, appoint other committees of the Board
of Directors which shall have such powers and duties as the Board of Directors may properly determine. No such other committee of the
Board of Directors shall be composed of fewer than three (3)&nbsp;directors. The Board of Directors may also appoint one or more directors
as alternative members of a committee. All acts done and powers conferred by the Board of Directors on committees of the Board of Directors
shall be deemed to be and may be certified as being, done or conferred under that authority of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;5. Delegation of Responsibility and Authority</B>.
The responsibility, authority and constitution of any committee under this Article&nbsp;III may, if authorized by law, be given over to
a duly constituted committee of the association&rsquo;s parent corporation by resolution adopted by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;IV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Officers and Employees</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;1 Officers. </B>The Board of Directors shall annually,
at the Annual Reorganization Meeting of the Board of Directors following the annual meeting of shareholders, appoint or elect a chair
of the Board, a chief executive officer, a president, one (1)&nbsp;or more senior executive vice presidents, a corporate secretary, a
treasurer, a chief auditor, and such other officers as it may determine, each to hold office until the next Annual Reorganization meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The officers below the level of senior executive vice president may
be elected as follows: the head of the Human Resources Department of M&amp;T Bank, or his or her designee, may appoint officers up to
and including (without limitation as to title or number) one (1)&nbsp;or more executive vice presidents, senior vice presidents, vice
presidents, assistant vice presidents, assistant secretaries, assistant treasurers, and assistant auditors, and any other officer positions
as they deem necessary and appropriate, except the chair of the board, chief executive officer, president, any &ldquo;Executive Officer&rdquo;
of the association for the purposes of Regulation O (codified at 12&#8239;C.F.R. &sect;215.2(e)(1)), and any &ldquo;Senior Executive
Officer&rdquo; within the meaning of 12 C.F.R.&#8239;&sect;5.51(c)(4)&nbsp;may only be appointed by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;2. Chair of the Board</B>. The Board of Directors shall
appoint one of its members to be the chair of the Board to serve at its pleasure. Such person shall preside at all meetings of the Board
of Directors. The chair of the Board shall supervise the carrying out of the policies adopted or approved by the Board of Directors; shall
have general executive powers, as well as the specific powers conferred by these Bylaws; and shall also have and may exercise such further
powers and duties as from time to time may be conferred upon or assigned by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;3. President</B>. The Board of Directors shall appoint
one of its members to be the president of the association. The president shall be a member of the Board of Directors. In the&#8239;absence of
the chair, the president shall preside at any meeting of the Board of Directors. The president shall have general executive powers and
shall have and may exercise any and all other powers and duties pertaining by law, regulation, or practice to the office of president,
or imposed by these Bylaws. The president shall also have and may exercise such further powers and duties as from time to time may be
conferred or assigned by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;4. Vice President</B>. The Board of Directors may appoint
one or more vice presidents. Each vice president shall have such powers and duties as may be assigned by the Board of Directors. One vice
president shall be designated by the Board of Directors, in the absence of the president, to perform all the duties of the president.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;5. Secretary</B>. The Board of Directors shall appoint
a secretary or other designated officer who shall be secretary of the Board of Directors and of the association and who shall keep accurate
minutes of all meetings. The secretary shall attend to the giving of all notices required by these Bylaws; shall be custodian of the corporate
seal, records, documents and papers of the association; shall provide for the keeping of proper records of all transactions of the association;
shall have and may exercise any and all other powers and duties pertaining by law, regulation or practice, or imposed by these bylaws;
and shall also perform such other duties as may be assigned from time to time, by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;6. Other Officers</B>. The Board of Directors may appoint
one or more assistant vice presidents, one or more trust officers, one or more officers, one or more assistant secretaries, one or more
assistant treasurers, one or more managers and assistant managers of branches and such other officers and attorneys in fact as from time
to time may appear to the Board of Directors to be required or desirable to transact the business of the association. Such officers shall
respectively exercise such powers and perform such duties as pertain to their several offices, or as may be conferred upon or assigned
to them by the Board of Directors, the chair of the Board, or the president. The Board of Directors may authorize an officer to appoint
one or more officers or assistant officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;7. Resignation</B>. An officer may resign at any time
by delivering notice to the association. A resignation is effective when the notice is given unless the notice specifies a later effective
date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;V</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Stock and Stock Certificates</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;1. Transfers</B>. Shares of stock shall be transferable
on the books of the association, and a transfer book shall be kept in which all transfers of stock shall be recorded. Every person becoming
a shareholder by such transfer shall in proportion to such shareholder's shares, succeed to all rights of the prior holder of such shares.
The Board of Directors may impose conditions upon the transfer of the stock reasonably calculated to simplify the work of the association
with respect to stock transfers, voting at shareholder meetings and related matters and to protect it against fraudulent transfers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;2. Stock Certificates</B>. Certificates of stock shall
bear the signature of the president (which may be engraved, printed or impressed) and shall be signed manually, by facsimile process,
or electronic means by the secretary, assistant secretary, treasurer, assistant treasurer, or any other officer appointed by the Board
of Directors for that purpose, to be known as an authorized officer, and the seal of the association shall be engraved thereon. Each
certificate shall recite on its face that the stock represented thereby is transferable only upon the books of the association properly
endorsed and otherwise comply with the requirements of 12&#8239;U.S.C. 52 and 12 C.F.R. <FONT STYLE="font-family: Times New Roman, Times, Serif">&sect;</FONT>7.2016(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;3. Lost, Stolen or Destroyed Certificates</B>. In case
any certificate representing shares shall be lost, stolen or destroyed, the Board of Directors, in its discretion, or any officer or officers
thereunder duly authorized by the Board of Directors, may authorize the issue of a substitute certificate or substitute shares in uncertificated
form in the place of the certificate so lost, stolen or destroyed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;4. Fixing of Record Date</B>. The Board of Directors
may set, in advance, a record date for the purpose of determining shareholders entitled to notice of or to vote at any meeting of shareholders
or determining shareholders entitled to receive payment of any dividend or the allotment of any other rights, in order to make a determination
of shareholders for any other proper purpose. Such date, in any case, shall be the close of business on the day before the first notice
is mailed or otherwise sent to the shareholders, provided that in no event may a record date be more than 10 days before the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;VII</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Corporate Seal</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;1. Seal</B>. The seal of the association shall be in
such form as may be determined from time to time by the Board of Directors. The president, the treasurer, the secretary or any assistant
treasurer or assistant secretary, or other officer thereunto designated by the Board of Directors shall have authority to affix the corporate
seal to any document requiring such seal and to attest the same. The seal on any corporate obligation for the payment of money may be
facsimile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;VIII</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Miscellaneous Provisions</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;1. Fiscal Year</B>. The fiscal year of the association
shall be the calendar year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;2. Execution of Instruments</B>. All agreements, indentures,
mortgages, deeds, conveyances, transfers, certificates, declarations, receipts, discharges, releases, satisfactions, settlements, petitions,
schedules, accounts, affidavits, bonds, undertakings, proxies and other instruments or documents may be signed, executed, acknowledged,
verified, delivered or accepted on behalf of the association by any officer elected or appointed pursuant to Article&nbsp;IV of these
Bylaws. Any such instruments may also be executed, acknowledged, verified, delivered or accepted on behalf of the association in such
other manner and by such other officers as the&#8239;Board of Directors may from time to time direct. The provisions of this Section&nbsp;2
are supplementary to any other provision of these Bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;3. Records</B>. The Articles of Association, the Bylaws
and the proceedings of all meetings of the shareholders, the Board of Directors, and standing committees of the Board of Directors shall
be recorded in appropriate minute books provided for that purpose. The minutes of each meeting shall be signed by the secretary, treasurer
or other officer appointed to act as secretary of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;4. Corporate Governance Procedures.
</B>To the extent not inconsistent with federal banking statutes and regulations, or safe and sound banking practices, the association
may follow the Delaware General Corporation Law, Del. Code Ann. tit. 8 (1991, as amended 1994, and as amended thereafter) with respect
to matters of corporate governance procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;5. Indemnification. </B>For purposes of this Section&nbsp;5
of Article&nbsp;VIII, the term &ldquo;institution-affiliated party&rdquo; shall mean any institution-affiliated party of the association
as such term is defined in 12 U.S.C. 1813(u).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any institution-affiliated party (or his or her heirs, executors or
administrators) may be indemnified or reimbursed by the association for reasonable expenses actually incurred in connection with any threatened,
pending or completed actions or proceedings and appeals therein, whether civil, criminal, governmental, administrative or investigative,
in accordance with and to the fullest extent permitted by law, as such law now or hereafter exists; provided, however, that when an administrative
proceeding or action instituted by a federal banking agency results in a final order or settlement pursuant to which such person: (i)&nbsp;is
assessed a civil money penalty, (ii)&nbsp;is removed from office or prohibited from participating in the conduct of the affairs of the
association, or (iii)&nbsp;is required to cease and desist from or to take any affirmative action described in 12 U.S.C. 1818(b)&nbsp;with
respect to the association, then the association shall require the repayment of all legal fees and expenses advanced pursuant to the next
succeeding paragraph and may not indemnify such institution-affiliated parties (or their heirs, executors or administrators) for expenses,
including expenses for legal fees, penalties or other payments incurred. The association shall provide indemnification in connection with
an action or proceeding (or part thereof) initiated by an institution-affiliated party (or by his or her heirs, executors or administrators)
only if such action or proceeding (or part thereof) was authorized by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Expenses incurred by an institution-affiliated party (or by his or
her heirs, executors or administrators) in connection with any action or proceeding under 12 U.S.C. 164 or 1818 may be paid by the association
in advance of the final disposition of such action or proceeding upon (a)&nbsp;a determination by the Board of Directors acting by a
quorum consisting of directors who are not parties to such action or proceeding that the institution-affiliated party (or his or her
heirs, executors or administrators) has a reasonable basis for prevailing on the merits, (b)&nbsp;a determination that the indemnified
individual (or his or her heirs, executors or administrators) will have the financial capacity to reimburse the association in the event
he or she does not prevail, (c)&nbsp;a determination that the payment of expenses and fees by the association will not adversely affect
the safety and soundness of the association, and (d)&nbsp;receipt of an undertaking by&#8239;or on behalf of such institution-affiliated party
(or by his or her heirs, executors or administrators) to repay such advancement in the event of a final order or settlement pursuant
to which such person: (i)&nbsp;is assessed a civil money penalty, (ii)&nbsp;is removed from office or prohibited from participating in
the conduct of the affairs of the association, or (iii)&nbsp;is required to cease and desist from or to take any affirmative action described
in 12 U.S.C. 1818(b)&nbsp;with respect to the association. In all other instances, expenses incurred by an institution-affiliated party
(or by his or her heirs, executors or administrators) in connection with any action or proceeding as to which indemnification may be
given under the Articles of Association may be paid by the association in advance of the final disposition of such action or proceeding
upon (a)&nbsp;receipt of an undertaking by or on behalf of such institution-affiliated party (or by or on behalf of his or her heirs,
executors or administrators) to repay such advancement in the event that such institution- affiliated party (or his or her heirs, executors
or administrators) is ultimately found not to be entitled to indemnification as authorized by these Bylaws and (b)&nbsp;approval by the
Board of Directors acting by a quorum consisting of directors who are not parties to such action or proceeding or, if such a quorum is
not obtainable, then approval by shareholders. To the extent permitted by law, the Board of Directors or, if applicable, the shareholders,
shall not be required to find that the institution-affiliated party has met the applicable standard of conduct provided by law for indemnification
in connection with such action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event that a majority of the members of the Board of Directors
are named as respondents in an administrative proceeding or civil action and request indemnification, the remaining members of the Board
may authorize independent legal counsel to review the indemnification request and provide the remaining members of the Board with a written
opinion of counsel as to whether the conditions delineated in the first four paragraphs of this Section&nbsp;5 of Article&nbsp;VIII have
been met. If independent legal counsel opines that said conditions have been met, the remaining members of the Board of Directors may
rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event that all of the members of the Board of Directors are
named as respondents in an administrative proceeding or civil action and request indemnification, the Board shall authorize independent
legal counsel to review the indemnification request and provide the Board with a written opinion of counsel as to whether the conditions
delineated in the first four paragraphs of this Section&nbsp;5 of Article&nbsp;VIII have been met. If legal counsel opines that said conditions
have been met, the Board of Directors may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To the extent permitted under applicable law, the rights of indemnification
and to the advancement of expenses provided in the Articles of Association (a)&nbsp;shall be available with respect to events occurring
prior to the adoption of these Bylaws, (b)&nbsp;shall continue to exist after any restrictive amendment of these Bylaws with respect to
events occurring prior to such amendment, (c)&nbsp;may be interpreted on the basis of applicable law in effect at the time of the occurrence
of the event or events giving rise to the action or proceeding, or on the basis of applicable law in effect at the time such rights are
claimed, and (d)&nbsp;are in the nature of contract rights which may be enforced in any court of competent jurisdiction as if the association
and the institution-affiliated party (or his or her heirs, executors or administrators) for whom such rights are sought were parties to
a separate written agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The rights of indemnification and to the advancement of expenses provided
in these Bylaws shall not, to the extent permitted under applicable law, be deemed exclusive of any other rights to which any such institution-affiliated
party (or his or her heirs, executors or administrators) may now or hereafter be otherwise entitled whether contained in the association&rsquo;s
Articles of Association, these Bylaws, a resolution of shareholders, a resolution of the Board of Directors, or an agreement providing
such indemnification, the creation of such other rights being hereby expressly authorized. Without limiting the generality of the foregoing,
the rights of indemnification and to the advancement of expenses provided in these Bylaws shall not be deemed exclusive of any rights,
pursuant to statute or otherwise, of any such institution-affiliated party (or of his or her heirs, executors or administrators) in any
such action or proceeding to have assessed or allowed in his or her favor, against the association or otherwise, his or her costs and
expenses incurred therein or in connection therewith or any part thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this Section&nbsp;5 of Article&nbsp;VIII or any part hereof shall
be held unenforceable in any respect by a court of competent jurisdiction, it shall be deemed modified to the minimum extent necessary
to make it enforceable, and the remainder of this Section&nbsp;5 of Article&nbsp;VIII shall remain fully enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The association may, upon affirmative vote of a majority of its Board
of Directors, purchase insurance to indemnify its institution-affiliated parties to the extent that such indemnification is allowed in
these Bylaws; provided, however, that no such insurance shall include coverage for a final order assessing civil money penalties against
such persons by a bank regulatory agency. Such insurance may, but need not, be for the benefit of all institution- affiliated parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE&nbsp;IX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Inspection and Amendments</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;1. Inspection</B>. A copy of the bylaws of the association,
with all amendments, shall at all times be kept in a convenient place at the main office of the association, and shall be open for inspection
to all shareholders during banking hours.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;2. Amendments</B>. The Board of Directors shall have
the power, at any regular or special meeting thereof, to amend, alter or repeal the bylaws of the association, or to make and adopt new
bylaws. These Bylaws may be amended, altered or repealed and new bylaws may be adopted by the shareholders of the association to the extent
and as permitted in the Articles of Association or applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Section&nbsp;321(b)&nbsp;Consent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to Section&nbsp;321(b)&nbsp;of the Trust Indenture Act of
1939, as amended, Wilmington Trust, National Association hereby consents that reports of examinations by Federal, State, Territorial or
District authorities may be furnished by such authorities to the Securities and Exchange Commission upon requests therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">WILMINGTON TRUST, NATIONAL ASSOCIATION</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Dated: April&nbsp;29, 2025</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-size: 10pt">/s/ Latoya S. Elvin</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Latoya S. Elvin</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Vice President</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>EXHIBIT&nbsp;7</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>REPORT&#8239; OF&#8239; CONDITION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">As of the close of business on December&nbsp;31,
2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap"><B>ASSETS</B></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap">Thousands of Dollars</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; font: 10pt Times New Roman, Times, Serif; text-align: left">Cash and balances due from depository institutions:</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">575,791</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Securities:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,088</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Federal funds sold and securities purchased under agreement to resell:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Loans and leases held for sale:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Loans and leases net of unearned income, allowance:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">33,276</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Premises and fixed asset</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,427</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Other real estate owned:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">348</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Investments in unconsolidated subsidiaries and associated companies:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Direct and indirect investments in real estate ventures:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Intangible assets:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">Other assets:</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">68,030</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total Assets:</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">710,960</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap">LIABILITIES</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">Thousands of Dollars</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 87%">Deposits</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">5,760</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Federal funds purchased and securities sold under agreements to repurchase</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Other borrowed money:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">Other Liabilities:</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">101,838</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total Liabilities</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">107,598</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: left">EQUITY CAPITAL</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">Thousands of Dollars</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 87%">Common Stock</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">1,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Surplus</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">352,350</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Retained Earnings</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">250,021</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Accumulated other comprehensive income</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total Equity Capital</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">603,362</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total Liabilities and Equity Capital</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">710,960</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
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<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>6
<FILENAME>tm2513286d2_ex-filingfees.htm
<DESCRIPTION>EX-FILING FEES
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;107</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Calculation of Filing Fee Tables</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&nbsp;S-3</B><BR>
(Form&nbsp;Type)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FuelCell Energy,&nbsp;Inc.</B><BR>
(Exact Name of Registrant as Specified in its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Table 1: Newly Registered Securities and Carry
Forward Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="background-color: White; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap; vertical-align: top; width: 10%">&nbsp;</TD>
    <TD STYLE="background-color: White; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; vertical-align: top; width: 3%; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 11%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Security&nbsp;type</B></FONT></TD>
    <TD STYLE="background-color: White; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 25%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Security<BR>
class<BR>
title<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="background-color: White; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 8%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Fee<BR>
calculation<BR>
or carry<BR>
forward rule</B></FONT></TD>
    <TD STYLE="background-color: White; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 6%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount<BR>
registered</B></FONT></TD>
    <TD STYLE="background-color: White; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 9%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed<BR>
maximum<BR>
offering price<BR>
per unit</B></FONT></TD>
    <TD STYLE="background-color: White; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 10%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Maximum<BR>
aggregate<BR>
offering price<SUP>(2)</SUP></B></FONT></TD>
    <TD STYLE="background-color: White; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 8%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Fee rate</B></FONT></TD>
    <TD STYLE="background-color: White; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 10%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount of<BR>
registration fee</B></FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap"><FONT STYLE="font-size: 10pt">Fees to Be Paid</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Equity</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Common Stock, par value $0.0001</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">457(o)</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap"><FONT STYLE="font-size: 10pt">Fees to Be Paid</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Equity</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Preferred Stock, par value $0.01</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">457(o)</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap"><FONT STYLE="font-size: 10pt">Fees to Be Paid</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Debt</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Debt Securities</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">457(o)</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap"><FONT STYLE="font-size: 10pt">Fees to Be Paid</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Other</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Warrants</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">457(o)</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap"><FONT STYLE="font-size: 10pt">Fees to Be Paid</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Other</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Units</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">457(o)</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap"><FONT STYLE="font-size: 10pt">Fees to Be Paid</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Unallocated (Universal) Shelf</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">457(o)</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">$200,000,000</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">0.00015310</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">$30,620</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap"><FONT STYLE="font-size: 10pt">Fees Previously Paid</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">- </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Total Offering Amounts</B></FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$200,000,000</FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$30,620</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Total Fees Previously Paid</B></FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Total Fee Offsets</B></FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Net Fee Due</B></FONT></TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: White; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$30,620</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 95%">(1)&nbsp;We are registering hereunder such indeterminate number of each identified class of securities up to a proposed aggregate offering price of $200,000,000, which may be offered by us from time to time in unspecified numbers and at indeterminate prices, and as may be issued upon conversion, exercise, redemption, repurchase or exchange of any securities registered hereunder, including any applicable anti-dilution provisions. Pursuant to Rule&nbsp;416 under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), the securities being registered hereunder include such indeterminate number of shares of common stock and preferred stock as may be issuable with respect to the securities being registered hereunder as a result of stock splits, stock dividends or similar transactions.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(2)&nbsp;The proposed maximum aggregate offering price per class of security will be determined from time to time by the registrant in connection with the issuance by the registrant of the securities registered hereunder and is not specified as to each class of security pursuant to Instruction 2.A.iii.b. of the Instructions to the Calculation of Filing Fee Tables and Related Disclosure under Item 16(b)&nbsp;of Form&nbsp;S-3 under the Securities Act.</TD></TR>
  </TABLE>
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